Can I retire at age 56 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$237,828$235,709$233,642$231,625$229,655$223,019
2 years$117,736$115,544$113,419$111,358$109,360$102,726
3 years$77,711$75,509$73,389$71,348$69,382$62,960
4 years$57,703$55,507$53,409$51,402$49,484$43,322
5 years$45,701$43,518$41,447$39,482$37,617$31,732
6 years$37,702$35,536$33,496$31,574$29,765$24,162
7 years$31,991$29,843$27,835$25,959$24,207$18,886
8 years$27,709$25,581$23,606$21,776$20,082$15,041
9 years$24,381$22,273$20,332$18,548$16,912$12,145
10 years$21,720$19,632$17,726$15,989$14,410$9,910
11 years$19,544$17,478$15,606$13,915$12,393$8,154
12 years$17,732$15,687$13,850$12,205$10,739$6,752
13 years$16,200$14,176$12,374$10,776$9,365$5,621
14 years$14,888$12,886$11,118$9,565$8,209$4,699
15 years$13,752$11,772$10,038$8,531$7,228$3,942
16 years$12,759$10,800$9,101$7,638$6,388$3,316
17 years$11,884$9,947$8,281$6,863$5,664$2,796
18 years$11,107$9,191$7,560$6,185$5,036$2,363
19 years$10,413$8,518$6,921$5,589$4,489$2,000
20 years$9,788$7,916$6,351$5,062$4,010$1,695
21 years$9,224$7,373$5,842$4,594$3,588$1,438
22 years$8,712$6,882$5,384$4,177$3,216$1,221
23 years$8,245$6,437$4,972$3,804$2,887$1,038
24 years$7,818$6,031$4,598$3,469$2,595$883
25 years$7,425$5,660$4,259$3,168$2,335$751
26 years$7,063$5,319$3,950$2,897$2,103$640
27 years$6,729$5,006$3,668$2,652$1,896$545
28 years$6,419$4,717$3,409$2,429$1,711$465
29 years$6,131$4,450$3,173$2,228$1,545$396
30 years$5,862$4,203$2,955$2,045$1,396$338
31 years$5,612$3,973$2,755$1,878$1,262$288
32 years$5,377$3,759$2,571$1,726$1,142$246
33 years$5,158$3,560$2,400$1,587$1,033$210
34 years$4,951$3,374$2,243$1,460$936$179
35 years$4,757$3,200$2,097$1,344$847$153
36 years$4,574$3,038$1,961$1,238$768$130
37 years$4,401$2,885$1,836$1,141$696$111
38 years$4,238$2,742$1,719$1,051$631$95
39 years$4,084$2,607$1,611$969$572$81
40 years$3,937$2,480$1,510$894$519$69
41 years$3,799$2,361$1,416$825$471$59
42 years$3,667$2,249$1,328$761$427$50
43 years$3,541$2,143$1,246$703$388$43
44 years$3,422$2,042$1,170$649$352$37
45 years$3,308$1,948$1,098$599$319$31
46 years$3,200$1,858$1,031$554$290$27
47 years$3,096$1,773$969$511$263$23
48 years$2,997$1,693$911$473$239$20
49 years$2,902$1,616$856$437$217$17
50 years$2,812$1,544$805$404$197$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,880,000, adding $5,831 every year, while hoping to spend $20,103 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: 75/19/6 Blend
55$2,880,000$2,880,000$2,880,000$2,880,000
56$3,179,775$3,027,135$2,982,495$3,415,838
57$3,482,722$3,154,075$3,061,019$3,698,801
58$3,815,897$3,286,561$3,141,500$4,005,625
59$4,182,360$3,424,845$3,223,982$4,341,244
60$4,585,486$3,569,187$3,308,510$4,708,501
61$5,028,991$3,719,863$3,395,131$5,110,525
62$5,516,970$3,877,159$3,483,890$5,550,762
63$6,053,937$4,041,375$3,574,836$6,033,004
64$6,644,863$4,212,827$3,668,018$6,561,426
65$7,295,226$4,391,843$3,763,484$7,140,624
66$8,011,063$4,578,767$3,861,284$7,775,659
67$8,799,025$4,773,959$3,961,470$8,472,104
68$9,666,440$4,977,797$4,064,094$9,236,094
69$10,621,383$5,190,676$4,169,207$10,074,385
70$11,672,753$5,413,008$4,276,865$10,994,417
71$12,830,354$5,645,226$4,387,120$12,004,383
72$14,104,991$5,887,783$4,500,029$13,113,307
73$15,508,568$6,141,152$4,615,648$14,331,126
74$17,054,203$6,405,829$4,734,033$15,668,784
75$18,756,351$6,682,334$4,855,243$17,138,336
76$20,630,941$6,971,211$4,979,335$18,753,059
77$22,695,524$7,273,028$5,106,371$20,527,577
78$24,969,442$7,588,380$5,236,408$22,477,996
79$27,474,007$7,917,893$5,369,510$24,622,062
80$30,232,705$8,262,219$5,505,738$26,979,318
81$33,271,416$8,622,042$5,645,155$29,571,294
82$36,618,656$8,998,078$5,787,823$32,421,708
83$40,305,852$9,391,077$5,933,808$35,556,685
84$44,367,632$9,801,824$6,083,175$39,005,007
85$48,842,158$10,231,141$6,235,989$42,798,382
86$53,771,480$10,679,888$6,392,316$46,971,742
87$59,201,936$11,148,968$6,552,224$51,563,568
88$65,184,591$11,639,324$6,715,780$56,616,257
89$71,775,714$12,151,946$6,883,054$62,176,518
90$79,037,314$12,687,869$7,054,113$68,295,812
91$87,037,722$13,248,176$7,229,028$75,030,835
92$95,852,238$13,834,005$7,407,869$82,444,054
93$105,563,839$14,446,544$7,590,705$90,604,291
94$116,263,966$15,087,040$7,777,609$99,587,374
95$128,053,384$15,756,798$7,968,652$109,476,849
96$141,043,132$16,457,185$8,163,905$120,364,770
97$155,355,576$17,189,631$8,363,441$132,352,561
98$171,125,560$17,955,639$8,567,331$145,551,974
99$188,501,680$18,756,777$8,775,649$160,086,140
100$207,647,685$19,594,693$8,988,467$176,090,733