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 years$237,828$235,709$233,642$231,625$229,655$223,109
2 years$117,736$115,544$113,419$111,358$109,360$102,815
3 years$77,711$75,509$73,389$71,348$69,382$63,045
4 years$57,703$55,507$53,409$51,402$49,484$43,402
5 years$45,701$43,518$41,447$39,482$37,617$31,807
6 years$37,702$35,536$33,496$31,574$29,765$24,233
7 years$31,991$29,843$27,835$25,959$24,207$18,952
8 years$27,709$25,581$23,606$21,776$20,082$15,102
9 years$24,381$22,273$20,332$18,548$16,912$12,202
10 years$21,720$19,632$17,726$15,989$14,410$9,963
11 years$19,544$17,478$15,606$13,915$12,393$8,203
12 years$17,732$15,687$13,850$12,205$10,739$6,797
13 years$16,200$14,176$12,374$10,776$9,365$5,662
14 years$14,888$12,886$11,118$9,565$8,209$4,737
15 years$13,752$11,772$10,038$8,531$7,228$3,976
16 years$12,759$10,800$9,101$7,638$6,388$3,348
17 years$11,884$9,947$8,281$6,863$5,664$2,825
18 years$11,107$9,191$7,560$6,185$5,036$2,389
19 years$10,413$8,518$6,921$5,589$4,489$2,023
20 years$9,788$7,916$6,351$5,062$4,010$1,716
21 years$9,224$7,373$5,842$4,594$3,588$1,457
22 years$8,712$6,882$5,384$4,177$3,216$1,238
23 years$8,245$6,437$4,972$3,804$2,887$1,053
24 years$7,818$6,031$4,598$3,469$2,595$897
25 years$7,425$5,660$4,259$3,168$2,335$764
26 years$7,063$5,319$3,950$2,897$2,103$651
27 years$6,729$5,006$3,668$2,652$1,896$555
28 years$6,419$4,717$3,409$2,429$1,711$473
29 years$6,131$4,450$3,173$2,228$1,545$404
30 years$5,862$4,203$2,955$2,045$1,396$345
31 years$5,612$3,973$2,755$1,878$1,262$294
32 years$5,377$3,759$2,571$1,726$1,142$251
33 years$5,158$3,560$2,400$1,587$1,033$214
34 years$4,951$3,374$2,243$1,460$936$183
35 years$4,757$3,200$2,097$1,344$847$156
36 years$4,574$3,038$1,961$1,238$768$134
37 years$4,401$2,885$1,836$1,141$696$114
38 years$4,238$2,742$1,719$1,051$631$98
39 years$4,084$2,607$1,611$969$572$83
40 years$3,937$2,480$1,510$894$519$71
41 years$3,799$2,361$1,416$825$471$61
42 years$3,667$2,249$1,328$761$427$52
43 years$3,541$2,143$1,246$703$388$44
44 years$3,422$2,042$1,170$649$352$38
45 years$3,308$1,948$1,098$599$319$32
46 years$3,200$1,858$1,031$554$290$28
47 years$3,096$1,773$969$511$263$24
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$15

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 $2,847 every year, while hoping to spend $42,994 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: 41/46/13 Blend
55$2,880,000$2,880,000$2,880,000$2,880,000
56$3,176,697$3,024,057$2,979,417$3,294,621
57$3,454,974$3,126,490$3,033,482$3,480,390
58$3,760,196$3,232,502$3,087,917$3,676,863
59$4,095,063$3,342,222$3,142,690$3,888,568
60$4,462,554$3,455,785$3,197,764$4,116,911
61$4,865,947$3,573,331$3,253,102$4,363,436
62$5,308,855$3,695,006$3,308,662$4,629,841
63$5,795,257$3,820,960$3,364,401$4,917,989
64$6,329,536$3,951,350$3,420,272$5,229,931
65$6,916,521$4,086,339$3,476,223$5,567,921
66$7,561,532$4,226,095$3,532,203$5,934,436
67$8,270,429$4,370,795$3,588,153$6,332,201
68$9,049,669$4,520,620$3,644,012$6,764,214
69$9,906,365$4,675,759$3,699,715$7,233,770
70$10,848,352$4,836,410$3,755,194$7,744,497
71$11,884,266$5,002,776$3,810,375$8,300,384
72$13,023,619$5,175,070$3,865,180$8,905,821
73$14,276,891$5,353,511$3,919,527$9,565,639
74$15,655,630$5,538,329$3,973,327$10,285,154
75$17,172,559$5,729,762$4,026,488$11,070,217
76$18,841,697$5,928,057$4,078,912$11,927,269
77$20,678,489$6,133,471$4,130,495$12,863,397
78$22,699,954$6,346,270$4,181,126$13,886,407
79$24,924,845$6,566,733$4,230,689$15,004,888
80$27,373,824$6,795,148$4,279,062$16,228,300
81$30,069,658$7,031,814$4,326,115$17,567,056
82$33,037,434$7,277,044$4,371,710$19,032,624
83$36,304,794$7,531,161$4,415,704$20,637,631
84$39,902,197$7,794,502$4,457,945$22,395,979
85$43,863,207$8,067,418$4,498,271$24,322,982
86$48,224,805$8,350,273$4,536,515$26,435,502
87$53,027,745$8,643,445$4,572,497$28,752,112
88$58,316,930$8,947,330$4,606,032$31,293,265
89$64,141,844$9,262,336$4,636,920$34,081,489
90$70,557,011$9,588,890$4,664,957$37,141,599
91$77,622,515$9,927,434$4,689,922$40,500,927
92$85,404,565$10,278,432$4,711,587$44,189,577
93$93,976,117$10,642,361$4,729,712$48,240,715
94$103,417,566$11,019,722$4,744,043$52,690,870
95$113,817,504$11,411,035$4,754,314$57,580,286
96$125,273,552$11,816,838$4,760,247$62,953,293
97$137,893,288$12,237,697$4,761,548$68,858,730
98$151,795,254$12,674,195$4,757,911$75,350,397
99$167,110,082$13,126,942$4,749,012$82,487,569
100$183,981,720$13,596,572$4,734,515$90,335,545