Can I retire at age 56 with 2,870,000?

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 $2,870,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$237,002$234,891$232,831$230,821$228,858$226,846
2 years$117,328$115,143$113,025$110,972$108,980$106,952
3 years$77,441$75,247$73,135$71,101$69,141$67,161
4 years$57,502$55,314$53,223$51,224$49,312$47,394
5 years$45,542$43,367$41,303$39,345$37,486$35,637
6 years$37,571$35,413$33,379$31,464$29,662$27,883
7 years$31,880$29,739$27,738$25,869$24,123$22,415
8 years$27,613$25,492$23,524$21,701$20,012$18,376
9 years$24,296$22,196$20,261$18,484$16,853$15,288
10 years$21,645$19,564$17,664$15,933$14,360$12,864
11 years$19,476$17,417$15,551$13,867$12,350$10,923
12 years$17,671$15,632$13,802$12,163$10,702$9,343
13 years$16,144$14,127$12,331$10,738$9,332$8,039
14 years$14,837$12,841$11,079$9,532$8,181$6,951
15 years$13,705$11,731$10,003$8,501$7,203$6,036
16 years$12,715$10,763$9,069$7,612$6,366$5,260
17 years$11,843$9,912$8,253$6,839$5,645$4,597
18 years$11,068$9,159$7,534$6,163$5,019$4,028
19 years$10,376$8,489$6,897$5,569$4,473$3,537
20 years$9,754$7,888$6,329$5,044$3,996$3,112
21 years$9,192$7,347$5,822$4,578$3,576$2,743
22 years$8,682$6,859$5,366$4,162$3,205$2,420
23 years$8,216$6,415$4,954$3,791$2,877$2,139
24 years$7,791$6,010$4,582$3,457$2,586$1,892
25 years$7,399$5,640$4,244$3,157$2,327$1,675
26 years$7,039$5,301$3,936$2,887$2,096$1,485
27 years$6,706$4,989$3,655$2,642$1,890$1,317
28 years$6,397$4,701$3,398$2,421$1,705$1,169
29 years$6,110$4,435$3,162$2,220$1,540$1,038
30 years$5,842$4,188$2,945$2,038$1,391$922
31 years$5,592$3,959$2,746$1,871$1,258$819
32 years$5,359$3,746$2,562$1,720$1,138$729
33 years$5,140$3,548$2,392$1,581$1,030$648
34 years$4,934$3,362$2,235$1,455$932$577
35 years$4,741$3,189$2,089$1,340$844$513
36 years$4,558$3,027$1,955$1,234$765$457
37 years$4,386$2,875$1,829$1,137$693$407
38 years$4,224$2,732$1,713$1,048$629$362
39 years$4,070$2,598$1,605$966$570$323
40 years$3,924$2,472$1,504$891$517$288
41 years$3,785$2,353$1,411$822$469$256
42 years$3,654$2,241$1,323$759$426$228
43 years$3,529$2,135$1,242$700$386$204
44 years$3,410$2,035$1,166$647$351$181
45 years$3,297$1,941$1,094$597$318$162
46 years$3,188$1,851$1,028$552$289$144
47 years$3,085$1,767$966$510$262$129
48 years$2,987$1,687$907$471$238$115
49 years$2,892$1,611$853$435$216$102
50 years$2,802$1,539$802$402$197$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,870,000, adding $5,372 every year, while hoping to spend $20,242 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: 45/41/14 Blend
55$2,870,000$2,870,000$2,870,000$2,870,000
56$3,168,281$3,016,171$2,971,686$3,297,957
57$3,469,909$3,142,426$3,049,700$3,515,037
58$3,801,623$3,274,189$3,129,650$3,747,820
59$4,166,474$3,411,709$3,211,577$3,999,799
60$4,567,816$3,555,245$3,295,528$4,272,756
61$5,009,352$3,705,071$3,381,546$4,568,651
62$5,495,156$3,861,469$3,469,678$4,889,632
63$6,029,719$4,024,739$3,559,970$5,238,063
64$6,617,991$4,195,192$3,652,469$5,616,539
65$7,265,424$4,373,154$3,747,225$6,027,910
66$7,978,025$4,558,966$3,844,285$6,475,311
67$8,762,415$4,752,987$3,943,700$6,962,184
68$9,625,888$4,955,590$4,045,520$7,492,315
69$10,576,480$5,167,165$4,149,797$8,069,866
70$11,623,049$5,388,124$4,256,583$8,699,412
71$12,775,353$5,618,895$4,365,931$9,385,984
72$14,044,143$5,859,926$4,477,894$10,135,117
73$15,441,271$6,111,687$4,592,528$10,952,895
74$16,979,791$6,374,670$4,709,889$11,846,013
75$18,674,091$6,649,389$4,830,031$12,821,835
76$20,540,023$6,936,385$4,953,012$13,888,463
77$22,595,058$7,236,220$5,078,891$15,054,810
78$24,858,445$7,549,486$5,207,724$16,330,687
79$27,351,396$7,876,800$5,339,573$17,726,885
80$30,097,286$8,218,811$5,474,496$19,255,284
81$33,121,872$8,576,196$5,612,554$20,928,957
82$36,453,537$8,949,664$5,753,810$22,762,294
83$40,123,560$9,339,959$5,898,324$24,771,134
84$44,166,405$9,747,860$6,046,160$26,972,913
85$48,620,053$10,174,179$6,197,381$29,386,824
86$53,526,357$10,619,772$6,352,052$32,033,999
87$58,931,436$11,085,532$6,510,236$34,937,701
88$64,886,112$11,572,393$6,671,999$38,123,547
89$71,446,392$12,081,336$6,837,407$41,619,739
90$78,673,989$12,613,387$7,006,525$45,457,333
91$86,636,914$13,169,621$7,179,422$49,670,528
92$95,410,109$13,751,162$7,356,162$54,296,981
93$105,076,162$14,359,191$7,536,815$59,378,164
94$115,726,080$14,994,940$7,721,448$64,959,749
95$127,460,152$15,659,705$7,910,129$71,092,035
96$140,388,895$16,354,838$8,102,926$77,830,420
97$154,634,096$17,081,758$8,299,907$85,235,918
98$170,329,961$17,841,952$8,501,142$93,375,732
99$187,624,386$18,636,976$8,706,698$102,323,882
100$206,680,345$19,468,460$8,916,645$112,161,899