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%11%
1 years$235,350$233,254$231,209$229,212$227,263$226,305
2 years$116,510$114,340$112,237$110,198$108,220$107,254
3 years$76,902$74,723$72,625$70,605$68,660$67,714
4 years$57,102$54,929$52,852$50,867$48,969$48,051
5 years$45,225$43,065$41,016$39,071$37,225$36,338
6 years$37,309$35,166$33,147$31,245$29,455$28,600
7 years$31,657$29,532$27,545$25,688$23,955$23,132
8 years$27,421$25,315$23,360$21,549$19,873$19,082
9 years$24,127$22,041$20,120$18,355$16,736$15,978
10 years$21,494$19,428$17,541$15,822$14,260$13,533
11 years$19,341$17,296$15,443$13,770$12,264$11,569
12 years$17,548$15,524$13,705$12,078$10,628$9,964
13 years$16,032$14,029$12,245$10,663$9,267$8,634
14 years$14,733$12,752$11,002$9,466$8,124$7,520
15 years$13,609$11,649$9,933$8,442$7,153$6,578
16 years$12,627$10,688$9,006$7,559$6,322$5,775
17 years$11,760$9,843$8,195$6,791$5,605$5,085
18 years$10,991$9,095$7,481$6,120$4,984$4,491
19 years$10,304$8,429$6,849$5,530$4,442$3,974
20 years$9,686$7,833$6,285$5,009$3,968$3,525
21 years$9,128$7,296$5,781$4,546$3,551$3,132
22 years$8,621$6,811$5,328$4,133$3,183$2,787
23 years$8,159$6,370$4,920$3,764$2,857$2,483
24 years$7,736$5,968$4,550$3,433$2,568$2,215
25 years$7,348$5,601$4,214$3,135$2,311$1,978
26 years$6,990$5,264$3,908$2,867$2,082$1,768
27 years$6,659$4,954$3,629$2,624$1,877$1,582
28 years$6,352$4,668$3,374$2,404$1,693$1,416
29 years$6,067$4,404$3,140$2,205$1,529$1,269
30 years$5,801$4,159$2,925$2,023$1,382$1,137
31 years$5,553$3,932$2,726$1,858$1,249$1,020
32 years$5,321$3,720$2,544$1,708$1,130$915
33 years$5,104$3,523$2,375$1,570$1,023$821
34 years$4,900$3,339$2,219$1,445$926$738
35 years$4,708$3,167$2,075$1,330$839$663
36 years$4,526$3,006$1,941$1,225$760$595
37 years$4,356$2,855$1,817$1,129$689$535
38 years$4,194$2,713$1,701$1,040$624$481
39 years$4,041$2,580$1,594$959$566$432
40 years$3,896$2,455$1,494$885$513$389
41 years$3,759$2,337$1,401$816$466$350
42 years$3,628$2,225$1,314$753$423$315
43 years$3,504$2,120$1,233$695$384$283
44 years$3,386$2,021$1,157$642$348$255
45 years$3,274$1,927$1,087$593$316$229
46 years$3,166$1,839$1,021$548$287$206
47 years$3,064$1,755$959$506$261$186
48 years$2,966$1,675$901$468$237$167
49 years$2,872$1,599$847$432$215$151
50 years$2,783$1,528$796$399$195$136

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 $5,090 every year, while hoping to spend $59,323 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: 77/11/12 Blend
55$2,850,000$2,850,000$2,850,000$2,850,000
56$3,145,950$2,994,900$2,950,725$3,380,533
57$3,403,718$3,078,531$2,986,455$3,619,354
58$3,685,790$3,164,272$3,021,394$3,873,105
59$3,994,582$3,252,163$3,055,453$4,149,674
60$4,332,756$3,342,245$3,088,536$4,451,311
61$4,703,241$3,434,559$3,120,546$4,780,496
62$5,109,264$3,529,145$3,151,378$5,139,960
63$5,554,381$3,626,045$3,180,920$5,532,708
64$6,042,504$3,725,298$3,209,058$5,962,053
65$6,577,946$3,826,943$3,235,667$6,431,643
66$7,165,454$3,931,022$3,260,620$6,945,496
67$7,810,260$4,037,571$3,283,781$7,508,038
68$8,518,125$4,146,631$3,305,006$8,124,145
69$9,295,395$4,258,237$3,324,145$8,799,188
70$10,149,063$4,372,428$3,341,041$9,539,084
71$11,086,829$4,489,238$3,355,527$10,350,353
72$12,117,177$4,608,703$3,367,430$11,240,176
73$13,249,456$4,730,856$3,376,565$12,216,466
74$14,493,960$4,855,728$3,382,740$13,287,940
75$15,862,036$4,983,351$3,385,753$14,464,204
76$17,366,181$5,113,752$3,385,393$15,755,839
77$19,020,164$5,246,959$3,381,437$17,174,505
78$20,839,157$5,382,996$3,373,651$18,733,050
79$22,839,873$5,521,885$3,361,791$20,445,629
80$25,040,729$5,663,646$3,345,599$22,327,839
81$27,462,015$5,808,296$3,324,808$24,396,866
82$30,126,086$5,955,848$3,299,135$26,671,647
83$33,057,575$6,106,313$3,268,285$29,173,049
84$36,283,624$6,259,698$3,231,947$31,924,064
85$39,834,135$6,416,005$3,189,800$34,950,028
86$43,742,061$6,575,233$3,141,502$38,278,859
87$48,043,707$6,737,376$3,086,698$41,941,321
88$52,779,080$6,902,422$3,025,018$45,971,313
89$57,992,261$7,070,355$2,956,070$50,406,190
90$63,731,822$7,241,154$2,879,450$55,287,115
91$70,051,286$7,414,788$2,794,729$60,659,448
92$77,009,628$7,591,223$2,701,463$66,573,173
93$84,671,834$7,770,417$2,599,186$73,083,372
94$93,109,512$7,952,318$2,487,409$80,250,740
95$102,401,569$8,136,869$2,365,625$88,142,165
96$112,634,956$8,324,002$2,233,300$96,831,354
97$123,905,483$8,513,640$2,089,877$106,399,528
98$136,318,729$8,705,696$1,934,775$116,936,194
99$149,991,036$8,900,071$1,767,386$128,539,986
100$165,050,603$9,096,656$1,587,076$141,319,597