Can I retire at age 56 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$240,305$238,165$236,076$234,038$232,047$225,706
2 years$118,963$116,747$114,600$112,518$110,499$104,156
3 years$78,521$76,296$74,154$72,091$70,105$63,959
4 years$58,304$56,085$53,965$51,938$49,999$44,099
5 years$46,177$43,972$41,879$39,893$38,009$32,369
6 years$38,095$35,906$33,845$31,903$30,075$24,701
7 years$32,324$30,154$28,125$26,229$24,459$19,352
8 years$27,998$25,847$23,852$22,003$20,291$15,447
9 years$24,635$22,505$20,544$18,742$17,088$12,504
10 years$21,946$19,837$17,911$16,156$14,560$10,229
11 years$19,748$17,660$15,768$14,060$12,522$8,437
12 years$17,917$15,850$13,994$12,333$10,851$7,006
13 years$16,369$14,324$12,503$10,888$9,463$5,848
14 years$15,044$13,020$11,234$9,665$8,295$4,902
15 years$13,896$11,894$10,142$8,620$7,303$4,124
16 years$12,892$10,913$9,196$7,718$6,455$3,479
17 years$12,008$10,050$8,368$6,934$5,723$2,942
18 years$11,223$9,287$7,639$6,249$5,089$2,493
19 years$10,521$8,607$6,993$5,647$4,536$2,117
20 years$9,890$7,998$6,418$5,114$4,051$1,799
21 years$9,320$7,450$5,903$4,641$3,626$1,531
22 years$8,803$6,954$5,441$4,220$3,250$1,305
23 years$8,331$6,504$5,023$3,843$2,917$1,112
24 years$7,899$6,094$4,646$3,505$2,622$949
25 years$7,502$5,719$4,303$3,201$2,359$810
26 years$7,137$5,375$3,991$2,927$2,125$692
27 years$6,799$5,058$3,706$2,679$1,916$592
28 years$6,486$4,766$3,445$2,455$1,729$506
29 years$6,195$4,497$3,206$2,251$1,561$433
30 years$5,924$4,246$2,986$2,066$1,411$370
31 years$5,670$4,014$2,784$1,897$1,275$317
32 years$5,433$3,798$2,597$1,744$1,154$271
33 years$5,211$3,597$2,425$1,604$1,044$232
34 years$5,003$3,409$2,266$1,475$945$199
35 years$4,807$3,234$2,119$1,358$856$170
36 years$4,622$3,069$1,982$1,251$776$146
37 years$4,447$2,915$1,855$1,152$703$125
38 years$4,282$2,770$1,737$1,062$637$107
39 years$4,126$2,634$1,627$979$578$92
40 years$3,978$2,506$1,525$903$524$78
41 years$3,838$2,386$1,430$834$476$67
42 years$3,705$2,272$1,342$769$432$58
43 years$3,578$2,165$1,259$710$392$49
44 years$3,457$2,064$1,182$656$356$42
45 years$3,343$1,968$1,110$606$323$36
46 years$3,233$1,877$1,042$559$293$31
47 years$3,128$1,791$979$517$266$27
48 years$3,028$1,710$920$477$242$23
49 years$2,933$1,633$865$441$219$19
50 years$2,841$1,560$813$408$199$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,910,000, adding $3,157 every year, while hoping to spend $29,311 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: 61/26/13 Blend
55$2,910,000$2,910,000$2,910,000$2,910,000
56$3,210,076$3,055,846$3,010,741$3,395,579
57$3,506,318$3,174,396$3,080,415$3,639,144
58$3,831,793$3,297,773$3,151,439$3,901,205
59$4,189,453$3,426,181$3,223,830$4,186,461
60$4,582,550$3,559,836$3,297,601$4,497,155
61$5,014,664$3,698,963$3,372,765$4,835,761
62$5,489,742$3,843,794$3,449,334$5,204,995
63$6,012,131$3,994,575$3,527,322$5,607,848
64$6,586,620$4,151,560$3,606,739$6,047,611
65$7,218,486$4,315,018$3,687,596$6,527,906
66$7,913,544$4,485,226$3,769,902$7,052,718
67$8,678,198$4,662,475$3,853,667$7,626,434
68$9,519,508$4,847,070$3,938,899$8,253,884
69$10,445,250$5,039,328$4,025,604$8,940,381
70$11,463,992$5,239,582$4,113,788$9,691,778
71$12,585,176$5,448,178$4,203,457$10,514,517
72$13,819,204$5,665,479$4,294,612$11,415,689
73$15,177,538$5,891,863$4,387,257$12,403,104
74$16,672,809$6,127,726$4,481,393$13,485,360
75$18,318,933$6,373,482$4,577,017$14,671,925
76$20,131,245$6,629,564$4,674,128$15,973,224
77$22,126,642$6,896,422$4,772,721$17,400,740
78$24,323,743$7,174,530$4,872,790$18,967,116
79$26,743,063$7,464,381$4,974,328$20,686,277
80$29,407,211$7,766,491$5,077,323$22,573,560
81$32,341,097$8,081,400$5,181,764$24,645,856
82$35,572,172$8,409,671$5,287,636$26,921,771
83$39,130,683$8,751,895$5,394,921$29,421,794
84$43,049,962$9,108,687$5,503,600$32,168,500
85$47,366,738$9,480,692$5,613,651$35,186,749
86$52,121,484$9,868,585$5,725,047$38,503,931
87$57,358,799$10,273,069$5,837,759$42,150,213
88$63,127,829$10,694,882$5,951,757$46,158,829
89$69,482,731$11,134,795$6,067,005$50,566,391
90$76,483,183$11,593,613$6,183,462$55,413,230
91$84,194,947$12,072,180$6,301,088$60,743,777
92$92,690,491$12,571,376$6,419,834$66,606,980
93$102,049,672$13,092,124$6,539,649$73,056,766
94$112,360,489$13,635,389$6,660,478$80,152,545
95$123,719,914$14,202,178$6,782,259$87,959,771
96$136,234,809$14,793,548$6,904,928$96,550,558
97$150,022,930$15,410,602$7,028,413$106,004,356
98$165,214,042$16,054,495$7,152,639$116,408,701
99$181,951,144$16,726,436$7,277,522$127,860,038
100$200,391,817$17,427,687$7,402,975$140,464,628