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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.3%
1 years$235,350$233,254$231,209$229,212$227,263$224,144
2 years$116,510$114,340$112,237$110,198$108,220$105,084
3 years$76,902$74,723$72,625$70,605$68,660$65,603
4 years$57,102$54,929$52,852$50,867$48,969$46,015
5 years$45,225$43,065$41,016$39,071$37,225$34,383
6 years$37,309$35,166$33,147$31,245$29,455$26,728
7 years$31,657$29,532$27,545$25,688$23,955$21,344
8 years$27,421$25,315$23,360$21,549$19,873$17,378
9 years$24,127$22,041$20,120$18,355$16,736$14,356
10 years$21,494$19,428$17,541$15,822$14,260$11,993
11 years$19,341$17,296$15,443$13,770$12,264$10,108
12 years$17,548$15,524$13,705$12,078$10,628$8,580
13 years$16,032$14,029$12,245$10,663$9,267$7,325
14 years$14,733$12,752$11,002$9,466$8,124$6,284
15 years$13,609$11,649$9,933$8,442$7,153$5,412
16 years$12,627$10,688$9,006$7,559$6,322$4,677
17 years$11,760$9,843$8,195$6,791$5,605$4,054
18 years$10,991$9,095$7,481$6,120$4,984$3,522
19 years$10,304$8,429$6,849$5,530$4,442$3,066
20 years$9,686$7,833$6,285$5,009$3,968$2,674
21 years$9,128$7,296$5,781$4,546$3,551$2,335
22 years$8,621$6,811$5,328$4,133$3,183$2,042
23 years$8,159$6,370$4,920$3,764$2,857$1,788
24 years$7,736$5,968$4,550$3,433$2,568$1,567
25 years$7,348$5,601$4,214$3,135$2,311$1,375
26 years$6,990$5,264$3,908$2,867$2,082$1,207
27 years$6,659$4,954$3,629$2,624$1,877$1,060
28 years$6,352$4,668$3,374$2,404$1,693$932
29 years$6,067$4,404$3,140$2,205$1,529$819
30 years$5,801$4,159$2,925$2,023$1,382$721
31 years$5,553$3,932$2,726$1,858$1,249$634
32 years$5,321$3,720$2,544$1,708$1,130$559
33 years$5,104$3,523$2,375$1,570$1,023$492
34 years$4,900$3,339$2,219$1,445$926$433
35 years$4,708$3,167$2,075$1,330$839$382
36 years$4,526$3,006$1,941$1,225$760$336
37 years$4,356$2,855$1,817$1,129$689$297
38 years$4,194$2,713$1,701$1,040$624$261
39 years$4,041$2,580$1,594$959$566$231
40 years$3,896$2,455$1,494$885$513$203
41 years$3,759$2,337$1,401$816$466$179
42 years$3,628$2,225$1,314$753$423$158
43 years$3,504$2,120$1,233$695$384$139
44 years$3,386$2,021$1,157$642$348$123
45 years$3,274$1,927$1,087$593$316$109
46 years$3,166$1,839$1,021$548$287$96
47 years$3,064$1,755$959$506$261$84
48 years$2,966$1,675$901$468$237$75
49 years$2,872$1,599$847$432$215$66
50 years$2,783$1,528$796$399$195$58

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 $3,584 every year, while hoping to spend $50,201 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: 38/48/14 Blend
55$2,850,000$2,850,000$2,850,000$2,850,000
56$3,144,397$2,993,347$2,949,172$3,250,426
57$3,411,712$3,086,607$2,994,556$3,419,716
58$3,704,611$3,182,755$3,039,777$3,597,439
59$4,025,649$3,281,879$3,084,778$3,788,415
60$4,377,644$3,384,069$3,129,497$3,993,861
61$4,763,695$3,489,420$3,173,867$4,215,114
62$5,187,219$3,598,029$3,217,818$4,453,642
63$5,651,978$3,709,994$3,261,277$4,711,061
64$6,162,115$3,825,419$3,304,165$4,989,147
65$6,722,196$3,944,410$3,346,400$5,289,851
66$7,337,248$4,067,075$3,387,893$5,615,323
67$8,012,812$4,193,526$3,428,552$5,967,924
68$8,754,989$4,323,879$3,468,279$6,350,256
69$9,570,502$4,458,253$3,506,970$6,765,176
70$10,466,755$4,596,770$3,544,516$7,215,833
71$11,451,909$4,739,556$3,580,801$7,705,691
72$12,534,950$4,886,741$3,615,705$8,238,560
73$13,725,783$5,038,459$3,649,099$8,818,638
74$15,035,317$5,194,848$3,680,848$9,450,542
75$16,475,574$5,356,049$3,710,811$10,139,358
76$18,059,795$5,522,209$3,738,836$10,890,683
77$19,802,575$5,693,478$3,764,767$11,710,682
78$21,719,989$5,870,010$3,788,439$12,606,140
79$23,829,753$6,051,965$3,809,676$13,584,532
80$26,151,383$6,239,507$3,828,296$14,654,086
81$28,706,386$6,432,805$3,844,106$15,823,866
82$31,518,458$6,632,033$3,856,904$17,103,853
83$34,613,708$6,837,369$3,866,477$18,505,041
84$38,020,905$7,048,999$3,872,603$20,039,537
85$41,771,748$7,267,111$3,875,047$21,720,678
86$45,901,169$7,491,902$3,873,562$23,563,155
87$50,447,654$7,723,571$3,867,893$25,583,147
88$55,453,614$7,962,326$3,857,767$27,798,482
89$60,965,782$8,208,379$3,842,901$30,228,794
90$67,035,652$8,461,949$3,822,999$32,895,715
91$73,719,966$8,723,263$3,797,747$35,823,074
92$81,081,251$8,992,551$3,766,820$39,037,127
93$89,188,405$9,270,052$3,729,875$42,566,794
94$98,117,351$9,556,013$3,686,553$46,443,942
95$107,951,748$9,850,685$3,636,480$50,703,677
96$118,783,785$10,154,328$3,579,262$55,384,679
97$130,715,051$10,467,210$3,514,487$60,529,564
98$143,857,489$10,789,606$3,441,725$66,185,285
99$158,334,455$11,121,798$3,360,524$72,403,578
100$174,281,881$11,464,078$3,270,414$79,241,444