Can I retire at age 56 with 2,860,000?

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 $2,860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$236,176$234,072$232,020$230,017$228,060$226,433
2 years$116,919$114,741$112,631$110,585$108,600$106,960
3 years$77,172$74,985$72,880$70,853$68,900$67,297
4 years$57,302$55,122$53,038$51,045$49,140$47,586
5 years$45,383$43,216$41,159$39,208$37,356$35,856
6 years$37,440$35,289$33,263$31,355$29,558$28,115
7 years$31,769$29,636$27,642$25,779$24,039$22,652
8 years$27,517$25,403$23,442$21,625$19,943$18,612
9 years$24,212$22,118$20,191$18,420$16,794$15,521
10 years$21,569$19,496$17,603$15,878$14,310$13,092
11 years$19,408$17,356$15,497$13,819$12,307$11,143
12 years$17,609$15,578$13,753$12,121$10,665$9,555
13 years$16,088$14,078$12,288$10,701$9,300$8,243
14 years$14,785$12,796$11,041$9,499$8,152$7,147
15 years$13,657$11,690$9,968$8,471$7,178$6,222
16 years$12,671$10,725$9,038$7,585$6,344$5,437
17 years$11,802$9,878$8,224$6,815$5,625$4,765
18 years$11,030$9,127$7,507$6,142$5,001$4,187
19 years$10,340$8,459$6,873$5,550$4,458$3,687
20 years$9,720$7,861$6,307$5,026$3,982$3,254
21 years$9,160$7,322$5,802$4,562$3,563$2,876
22 years$8,651$6,835$5,347$4,148$3,194$2,546
23 years$8,188$6,392$4,937$3,777$2,867$2,256
24 years$7,763$5,989$4,566$3,445$2,577$2,002
25 years$7,374$5,621$4,229$3,146$2,319$1,778
26 years$7,014$5,282$3,922$2,877$2,089$1,581
27 years$6,682$4,971$3,642$2,633$1,883$1,407
28 years$6,374$4,684$3,386$2,413$1,699$1,252
29 years$6,088$4,419$3,151$2,212$1,534$1,116
30 years$5,822$4,174$2,935$2,030$1,386$994
31 years$5,573$3,945$2,736$1,865$1,253$887
32 years$5,340$3,733$2,553$1,714$1,134$791
33 years$5,122$3,535$2,384$1,576$1,026$706
34 years$4,917$3,351$2,227$1,450$929$630
35 years$4,724$3,178$2,082$1,335$841$563
36 years$4,542$3,016$1,948$1,229$762$503
37 years$4,371$2,865$1,823$1,133$691$449
38 years$4,209$2,723$1,707$1,044$626$401
39 years$4,055$2,589$1,599$963$568$359
40 years$3,910$2,463$1,499$888$515$321
41 years$3,772$2,345$1,406$819$467$287
42 years$3,641$2,233$1,319$756$424$256
43 years$3,517$2,128$1,237$698$385$229
44 years$3,398$2,028$1,162$644$349$205
45 years$3,285$1,934$1,091$595$317$184
46 years$3,177$1,845$1,024$550$288$164
47 years$3,075$1,761$962$508$262$147
48 years$2,976$1,681$904$469$238$131
49 years$2,882$1,605$850$434$216$118
50 years$2,792$1,533$799$401$196$105

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,860,000, adding $2,605 every year, while hoping to spend $27,120 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: 38/32/30 Blend
55$2,860,000$2,860,000$2,860,000$2,860,000
56$3,154,407$3,002,827$2,958,497$3,246,037
57$3,447,301$3,121,110$3,028,751$3,432,211
58$3,769,161$3,244,280$3,100,450$3,630,628
59$4,122,914$3,372,548$3,173,613$3,844,567
60$4,511,782$3,506,134$3,248,260$4,075,458
61$4,939,317$3,645,267$3,324,410$4,324,872
62$5,409,432$3,790,190$3,402,082$4,594,533
63$5,926,437$3,941,152$3,481,295$4,886,337
64$6,495,081$4,098,417$3,562,066$5,202,367
65$7,120,598$4,262,258$3,644,414$5,544,912
66$7,808,753$4,432,962$3,728,356$5,916,487
67$8,565,898$4,610,829$3,813,908$6,319,858
68$9,399,032$4,796,173$3,901,087$6,758,067
69$10,315,868$4,989,320$3,989,907$7,234,458
70$11,324,902$5,190,612$4,080,385$7,752,709
71$12,435,497$5,400,407$4,172,533$8,316,864
72$13,657,970$5,619,079$4,266,364$8,931,373
73$15,003,687$5,847,018$4,361,892$9,601,132
74$16,485,175$6,084,634$4,459,127$10,331,527
75$18,116,235$6,332,353$4,558,080$11,128,483
76$19,912,074$6,590,621$4,658,759$11,998,522
77$21,889,450$6,859,906$4,761,172$12,948,821
78$24,066,829$7,140,696$4,865,326$13,987,277
79$26,464,556$7,433,501$4,971,225$15,122,585
80$29,105,054$7,738,856$5,078,874$16,364,314
81$32,013,027$8,057,318$5,188,274$17,722,997
82$35,215,701$8,389,471$5,299,426$19,210,232
83$38,743,073$8,735,926$5,412,328$20,838,785
84$42,628,201$9,097,321$5,526,976$22,622,712
85$46,907,513$9,474,325$5,643,364$24,577,491
86$51,621,148$9,867,636$5,761,486$26,720,163
87$56,813,340$10,277,985$5,881,331$29,069,493
88$62,532,831$10,706,136$6,002,885$31,646,146
89$68,833,332$11,152,889$6,126,135$34,472,877
90$75,774,033$11,619,081$6,251,061$37,574,747
91$83,420,155$12,105,587$6,377,642$40,979,357
92$91,843,573$12,613,323$6,505,855$44,717,105
93$101,123,488$13,143,247$6,635,672$48,821,470
94$111,347,178$13,696,360$6,767,062$53,329,329
95$122,610,822$14,273,713$6,899,989$58,281,297
96$135,020,403$14,876,402$7,034,416$63,722,113
97$148,692,715$15,505,577$7,170,300$69,701,059
98$163,756,459$16,162,438$7,307,593$76,272,418
99$180,353,464$16,848,243$7,446,243$83,495,989
100$198,640,020$17,564,310$7,586,194$91,437,643