Can I retire at age 56 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$239,479$237,346$235,265$233,234$231,250$228,171
2 years$118,554$116,346$114,206$112,132$110,119$107,022
3 years$78,251$76,033$73,899$71,844$69,864$66,845
4 years$58,103$55,893$53,780$51,759$49,828$46,910
5 years$46,018$43,821$41,735$39,756$37,878$35,071
6 years$37,964$35,783$33,728$31,793$29,972$27,277
7 years$32,213$30,050$28,028$26,139$24,375$21,795
8 years$27,902$25,759$23,770$21,927$20,221$17,755
9 years$24,550$22,428$20,473$18,677$17,029$14,676
10 years$21,871$19,769$17,849$16,100$14,510$12,268
11 years$19,680$17,599$15,714$14,012$12,479$10,346
12 years$17,855$15,796$13,946$12,290$10,814$8,787
13 years$16,313$14,275$12,460$10,850$9,430$7,507
14 years$14,992$12,975$11,195$9,632$8,266$6,445
15 years$13,848$11,853$10,108$8,590$7,278$5,554
16 years$12,848$10,875$9,164$7,691$6,433$4,803
17 years$11,967$10,016$8,339$6,911$5,704$4,166
18 years$11,184$9,255$7,612$6,228$5,071$3,622
19 years$10,485$8,577$6,969$5,627$4,520$3,155
20 years$9,856$7,970$6,396$5,097$4,038$2,754
21 years$9,288$7,424$5,883$4,626$3,613$2,407
22 years$8,772$6,930$5,422$4,206$3,239$2,107
23 years$8,302$6,482$5,006$3,830$2,907$1,846
24 years$7,872$6,073$4,630$3,493$2,613$1,619
25 years$7,477$5,699$4,288$3,190$2,351$1,421
26 years$7,112$5,356$3,977$2,917$2,118$1,249
27 years$6,776$5,041$3,693$2,670$1,910$1,098
28 years$6,463$4,750$3,433$2,446$1,723$966
29 years$6,173$4,481$3,195$2,243$1,556$850
30 years$5,903$4,232$2,976$2,059$1,406$748
31 years$5,651$4,001$2,774$1,891$1,271$659
32 years$5,415$3,785$2,588$1,738$1,150$581
33 years$5,193$3,585$2,417$1,598$1,040$512
34 years$4,986$3,398$2,258$1,470$942$451
35 years$4,790$3,223$2,111$1,354$853$398
36 years$4,606$3,059$1,975$1,247$773$351
37 years$4,432$2,905$1,849$1,149$701$310
38 years$4,268$2,761$1,731$1,059$635$273
39 years$4,112$2,625$1,622$976$576$241
40 years$3,965$2,498$1,520$900$522$213
41 years$3,825$2,378$1,425$831$474$188
42 years$3,692$2,264$1,337$767$430$166
43 years$3,566$2,157$1,255$708$390$146
44 years$3,446$2,056$1,178$653$354$129
45 years$3,331$1,961$1,106$603$322$114
46 years$3,222$1,871$1,039$557$292$101
47 years$3,118$1,785$976$515$265$89
48 years$3,018$1,704$917$476$241$79
49 years$2,923$1,628$862$440$219$69
50 years$2,831$1,555$810$406$199$61

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,900,000, adding $5,803 every year, while hoping to spend $26,766 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: 31/40/29 Blend
55$2,900,000$2,900,000$2,900,000$2,900,000
56$3,201,786$3,048,086$3,003,136$3,272,491
57$3,499,889$3,168,963$3,075,262$3,448,767
58$3,827,502$3,294,866$3,148,907$3,635,642
59$4,187,606$3,426,014$3,224,095$3,836,281
60$4,583,486$3,562,633$3,300,846$4,051,909
61$5,018,761$3,704,961$3,379,184$4,283,868
62$5,497,419$3,853,249$3,459,131$4,533,631
63$6,023,852$4,007,754$3,540,708$4,802,816
64$6,602,901$4,168,750$3,623,938$5,093,196
65$7,239,899$4,336,521$3,708,841$5,406,718
66$7,940,720$4,511,362$3,795,439$5,745,520
67$8,711,839$4,693,584$3,883,752$6,111,952
68$9,560,389$4,883,513$3,973,801$6,508,591
69$10,494,230$5,081,485$4,065,604$6,938,270
70$11,522,021$5,287,857$4,159,181$7,404,103
71$12,653,303$5,502,999$4,254,550$7,909,511
72$13,898,592$5,727,298$4,351,729$8,458,253
73$15,269,472$5,961,158$4,450,735$9,054,461
74$16,778,708$6,205,005$4,551,585$9,702,681
75$18,440,366$6,459,280$4,654,293$10,407,906
76$20,269,945$6,724,447$4,758,874$11,175,631
77$22,284,525$7,000,990$4,865,341$12,011,897
78$24,502,923$7,289,416$4,973,707$12,923,350
79$26,945,878$7,590,253$5,083,982$13,917,300
80$29,636,239$7,904,057$5,196,177$15,001,788
81$32,599,186$8,231,407$5,310,300$16,185,662
82$35,862,465$8,572,908$5,426,357$17,478,656
83$39,456,651$8,929,195$5,544,355$18,891,484
84$43,415,435$9,300,931$5,664,296$20,435,935
85$47,775,942$9,688,809$5,786,183$22,124,983
86$52,579,083$10,093,556$5,910,015$23,972,908
87$57,869,939$10,515,930$6,035,790$25,995,430
88$63,698,188$10,956,726$6,163,504$28,209,850
89$70,118,572$11,416,774$6,293,150$30,635,218
90$77,191,415$11,896,945$6,424,719$33,292,503
91$84,983,191$12,398,147$6,558,200$36,204,792
92$93,567,154$12,921,333$6,693,577$39,397,506
93$103,024,025$13,467,500$6,830,832$42,898,633
94$113,442,756$14,037,689$6,969,947$46,738,993
95$124,921,372$14,632,990$7,110,895$50,952,523
96$137,567,892$15,254,547$7,253,650$55,576,596
97$151,501,350$15,903,552$7,398,180$60,652,367
98$166,852,919$16,581,258$7,544,450$66,225,164
99$183,767,149$17,288,971$7,692,421$72,344,903
100$202,403,329$18,028,062$7,842,048$79,066,565