Can I retire at age 56 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$247,737$245,530$243,378$241,276$239,224$230,096
2 years$122,642$120,358$118,144$115,998$113,916$104,827
3 years$80,949$78,655$76,447$74,321$72,273$63,509
4 years$60,107$57,820$55,634$53,544$51,546$43,174
5 years$47,605$45,332$43,174$41,127$39,184$31,226
6 years$39,273$37,017$34,891$32,890$31,005$23,466
7 years$33,324$31,087$28,995$27,040$25,216$18,092
8 years$28,864$26,647$24,590$22,684$20,919$14,205
9 years$25,397$23,201$21,179$19,321$17,617$11,303
10 years$22,625$20,450$18,465$16,655$15,010$9,085
11 years$20,359$18,206$16,256$14,495$12,909$7,360
12 years$18,471$16,341$14,427$12,714$11,187$5,998
13 years$16,875$14,767$12,889$11,225$9,755$4,912
14 years$15,509$13,423$11,581$9,964$8,551$4,039
15 years$14,326$12,262$10,456$8,886$7,529$3,331
16 years$13,291$11,250$9,480$7,957$6,654$2,754
17 years$12,379$10,361$8,626$7,149$5,900$2,282
18 years$11,570$9,574$7,875$6,443$5,246$1,894
19 years$10,846$8,873$7,209$5,821$4,676$1,574
20 years$10,196$8,245$6,616$5,272$4,177$1,309
21 years$9,608$7,680$6,086$4,785$3,738$1,091
22 years$9,075$7,169$5,609$4,351$3,350$909
23 years$8,589$6,705$5,179$3,962$3,007$758
24 years$8,143$6,282$4,789$3,614$2,703$633
25 years$7,734$5,896$4,436$3,300$2,432$528
26 years$7,358$5,541$4,114$3,018$2,191$441
27 years$7,009$5,215$3,820$2,762$1,975$369
28 years$6,686$4,914$3,551$2,531$1,782$308
29 years$6,386$4,636$3,305$2,321$1,610$257
30 years$6,107$4,378$3,078$2,130$1,454$215
31 years$5,846$4,139$2,870$1,956$1,315$180
32 years$5,601$3,916$2,678$1,798$1,189$151
33 years$5,373$3,708$2,500$1,653$1,076$126
34 years$5,158$3,515$2,336$1,521$975$105
35 years$4,955$3,334$2,184$1,400$883$88
36 years$4,765$3,164$2,043$1,290$800$74
37 years$4,585$3,005$1,912$1,188$725$62
38 years$4,415$2,856$1,791$1,095$657$52
39 years$4,254$2,716$1,678$1,010$596$43
40 years$4,101$2,584$1,573$931$541$36
41 years$3,957$2,460$1,475$859$490$30
42 years$3,819$2,342$1,383$793$445$25
43 years$3,689$2,232$1,298$732$404$21
44 years$3,564$2,127$1,218$676$367$18
45 years$3,446$2,029$1,144$624$333$15
46 years$3,333$1,935$1,074$577$302$12
47 years$3,225$1,847$1,009$533$274$10
48 years$3,122$1,763$949$492$249$9
49 years$3,023$1,684$892$455$226$7
50 years$2,929$1,608$838$421$206$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $3,000,000, adding $2,530 every year, while hoping to spend $55,366 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: 77/5/18 Blend
55$3,000,000$3,000,000$3,000,000$3,000,000
56$3,308,610$3,149,610$3,103,110$3,549,729
57$3,587,179$3,245,032$3,148,155$3,804,844
58$3,892,307$3,343,273$3,192,853$4,077,387
59$4,226,643$3,444,415$3,237,135$4,374,794
60$4,593,108$3,548,538$3,280,926$4,699,533
61$4,994,915$3,655,727$3,324,148$5,054,322
62$5,435,606$3,766,067$3,366,716$5,442,156
63$5,919,080$3,879,647$3,408,544$5,866,330
64$6,449,634$3,996,558$3,449,538$6,330,479
65$7,031,999$4,116,891$3,489,599$6,838,603
66$7,671,386$4,240,742$3,528,625$7,395,112
67$8,373,538$4,368,210$3,566,504$8,004,862
68$9,144,780$4,499,392$3,603,122$8,673,204
69$9,992,078$4,634,393$3,638,357$9,406,033
70$10,923,107$4,773,316$3,672,080$10,209,843
71$11,946,325$4,916,269$3,704,156$11,091,791
72$13,071,047$5,063,363$3,734,441$12,059,760
73$14,307,535$5,214,709$3,762,786$13,122,438
74$15,667,097$5,370,423$3,789,033$14,289,396
75$17,162,191$5,530,624$3,813,016$15,571,180
76$18,806,541$5,695,431$3,834,558$16,979,411
77$20,615,270$5,864,969$3,853,478$18,526,893
78$22,605,038$6,039,363$3,869,580$20,227,734
79$24,794,204$6,218,744$3,882,663$22,097,481
80$27,202,994$6,403,243$3,892,513$24,153,264
81$29,853,693$6,592,996$3,898,906$26,413,960
82$32,770,857$6,788,140$3,901,607$28,900,368
83$35,981,543$6,988,818$3,900,370$31,635,409
84$39,515,563$7,195,172$3,894,934$34,644,340
85$43,405,765$7,407,351$3,885,030$37,954,992
86$47,688,347$7,625,504$3,870,371$41,598,034
87$52,403,190$7,849,785$3,850,661$45,607,260
88$57,594,241$8,080,351$3,825,584$50,019,913
89$63,309,927$8,317,362$3,794,814$54,877,030
90$69,603,607$8,560,980$3,758,008$60,223,836
91$76,534,078$8,811,371$3,714,804$66,110,163
92$84,166,130$9,068,705$3,664,827$72,590,928
93$92,571,158$9,333,153$3,607,681$79,726,648
94$101,827,831$9,604,893$3,542,953$87,584,010
95$112,022,839$9,884,101$3,470,211$96,236,502
96$123,251,707$10,170,961$3,389,002$105,765,110
97$135,619,700$10,465,657$3,298,852$116,259,074
98$149,242,812$10,768,377$3,199,266$127,816,740
99$164,248,864$11,079,312$3,089,727$140,546,481
100$180,778,706$11,398,657$2,969,691$154,567,727