Can I retire at age 56 with 2,850,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,850,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$235,350$233,254$231,209$229,212$227,263$221,589
2 years$116,510$114,340$112,237$110,198$108,220$102,540
3 years$76,902$74,723$72,625$70,605$68,660$63,150
4 years$57,102$54,929$52,852$50,867$48,969$43,673
5 years$45,225$43,065$41,016$39,071$37,225$32,157
6 years$37,309$35,166$33,147$31,245$29,455$24,621
7 years$31,657$29,532$27,545$25,688$23,955$19,354
8 years$27,421$25,315$23,360$21,549$19,873$15,504
9 years$24,127$22,041$20,120$18,355$16,736$12,595
10 years$21,494$19,428$17,541$15,822$14,260$10,342
11 years$19,341$17,296$15,443$13,770$12,264$8,564
12 years$17,548$15,524$13,705$12,078$10,628$7,138
13 years$16,032$14,029$12,245$10,663$9,267$5,983
14 years$14,733$12,752$11,002$9,466$8,124$5,036
15 years$13,609$11,649$9,933$8,442$7,153$4,254
16 years$12,627$10,688$9,006$7,559$6,322$3,605
17 years$11,760$9,843$8,195$6,791$5,605$3,062
18 years$10,991$9,095$7,481$6,120$4,984$2,606
19 years$10,304$8,429$6,849$5,530$4,442$2,222
20 years$9,686$7,833$6,285$5,009$3,968$1,898
21 years$9,128$7,296$5,781$4,546$3,551$1,623
22 years$8,621$6,811$5,328$4,133$3,183$1,389
23 years$8,159$6,370$4,920$3,764$2,857$1,190
24 years$7,736$5,968$4,550$3,433$2,568$1,020
25 years$7,348$5,601$4,214$3,135$2,311$875
26 years$6,990$5,264$3,908$2,867$2,082$751
27 years$6,659$4,954$3,629$2,624$1,877$645
28 years$6,352$4,668$3,374$2,404$1,693$554
29 years$6,067$4,404$3,140$2,205$1,529$476
30 years$5,801$4,159$2,925$2,023$1,382$410
31 years$5,553$3,932$2,726$1,858$1,249$352
32 years$5,321$3,720$2,544$1,708$1,130$303
33 years$5,104$3,523$2,375$1,570$1,023$261
34 years$4,900$3,339$2,219$1,445$926$224
35 years$4,708$3,167$2,075$1,330$839$193
36 years$4,526$3,006$1,941$1,225$760$166
37 years$4,356$2,855$1,817$1,129$689$143
38 years$4,194$2,713$1,701$1,040$624$123
39 years$4,041$2,580$1,594$959$566$106
40 years$3,896$2,455$1,494$885$513$91
41 years$3,759$2,337$1,401$816$466$79
42 years$3,628$2,225$1,314$753$423$68
43 years$3,504$2,120$1,233$695$384$58
44 years$3,386$2,021$1,157$642$348$50
45 years$3,274$1,927$1,087$593$316$43
46 years$3,166$1,839$1,021$548$287$37
47 years$3,064$1,755$959$506$261$32
48 years$2,966$1,675$901$468$237$28
49 years$2,872$1,599$847$432$215$24
50 years$2,783$1,528$796$399$195$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,850,000, adding $2,670 every year, while hoping to spend $44,348 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 74/21/5 Blend
55$2,850,000$2,850,000$2,850,000$2,850,000
56$3,143,454$2,992,404$2,948,229$3,374,730
57$3,416,900$3,091,846$2,999,809$3,626,658
58$3,716,752$3,194,674$3,051,630$3,896,641
59$4,045,655$3,301,008$3,103,654$4,191,102
60$4,406,525$3,410,970$3,155,840$4,512,442
61$4,802,573$3,524,689$3,208,142$4,863,308
62$5,237,334$3,642,298$3,260,514$5,246,608
63$5,714,706$3,763,934$3,312,905$5,665,550
64$6,238,979$3,889,740$3,365,260$6,123,660
65$6,814,881$4,019,864$3,417,523$6,624,823
66$7,447,620$4,154,459$3,469,631$7,173,319
67$8,142,934$4,293,684$3,521,520$7,773,856
68$8,907,143$4,437,704$3,573,121$8,431,623
69$9,747,210$4,586,690$3,624,359$9,152,332
70$10,670,808$4,740,820$3,675,158$9,942,275
71$11,686,388$4,900,279$3,725,434$10,808,380
72$12,803,264$5,065,256$3,775,099$11,758,279
73$14,031,693$5,235,950$3,824,062$12,800,378
74$15,382,981$5,412,567$3,872,223$13,943,936
75$16,869,582$5,595,320$3,919,480$15,199,150
76$18,505,219$5,784,430$3,965,722$16,577,255
77$20,305,012$5,980,127$4,010,833$18,090,625
78$22,285,619$6,182,650$4,054,693$19,752,893
79$24,465,398$6,392,245$4,097,170$21,579,075
80$26,864,573$6,609,170$4,138,130$23,585,715
81$29,505,431$6,833,690$4,177,429$25,791,037
82$32,412,528$7,066,084$4,214,916$28,215,121
83$35,612,921$7,306,637$4,250,430$30,880,086
84$39,136,425$7,555,649$4,283,806$33,810,304
85$43,015,892$7,813,428$4,314,866$37,032,623
86$47,287,523$8,080,296$4,343,424$40,576,627
87$51,991,207$8,356,586$4,369,285$44,474,907
88$57,170,898$8,642,647$4,392,243$48,763,374
89$62,875,030$8,938,837$4,412,084$53,481,592
90$69,156,973$9,245,530$4,428,579$58,673,155
91$76,075,538$9,563,115$4,441,490$64,386,096
92$83,695,530$9,891,995$4,450,567$70,673,339
93$92,088,361$10,232,589$4,455,548$77,593,196
94$101,332,721$10,585,333$4,456,156$85,209,921
95$111,515,322$10,950,678$4,452,101$93,594,311
96$122,731,719$11,329,096$4,443,081$102,824,376
97$135,087,207$11,721,073$4,428,776$112,986,074
98$148,697,815$12,127,119$4,408,853$124,174,120
99$163,691,404$12,547,759$4,382,961$136,492,881
100$180,208,870$12,983,543$4,350,734$150,057,356