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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.1%
1 years$247,737$245,530$243,378$241,276$239,224$236,137
2 years$122,642$120,358$118,144$115,998$113,916$110,810
3 years$80,949$78,655$76,447$74,321$72,273$69,245
4 years$60,107$57,820$55,634$53,544$51,546$48,619
5 years$47,605$45,332$43,174$41,127$39,184$36,367
6 years$39,273$37,017$34,891$32,890$31,005$28,301
7 years$33,324$31,087$28,995$27,040$25,216$22,625
8 years$28,864$26,647$24,590$22,684$20,919$18,442
9 years$25,397$23,201$21,179$19,321$17,617$15,253
10 years$22,625$20,450$18,465$16,655$15,010$12,758
11 years$20,359$18,206$16,256$14,495$12,909$10,766
12 years$18,471$16,341$14,427$12,714$11,187$9,150
13 years$16,875$14,767$12,889$11,225$9,755$7,822
14 years$15,509$13,423$11,581$9,964$8,551$6,719
15 years$14,326$12,262$10,456$8,886$7,529$5,795
16 years$13,291$11,250$9,480$7,957$6,654$5,015
17 years$12,379$10,361$8,626$7,149$5,900$4,353
18 years$11,570$9,574$7,875$6,443$5,246$3,787
19 years$10,846$8,873$7,209$5,821$4,676$3,301
20 years$10,196$8,245$6,616$5,272$4,177$2,883
21 years$9,608$7,680$6,086$4,785$3,738$2,522
22 years$9,075$7,169$5,609$4,351$3,350$2,209
23 years$8,589$6,705$5,179$3,962$3,007$1,937
24 years$8,143$6,282$4,789$3,614$2,703$1,700
25 years$7,734$5,896$4,436$3,300$2,432$1,494
26 years$7,358$5,541$4,114$3,018$2,191$1,314
27 years$7,009$5,215$3,820$2,762$1,975$1,156
28 years$6,686$4,914$3,551$2,531$1,782$1,018
29 years$6,386$4,636$3,305$2,321$1,610$896
30 years$6,107$4,378$3,078$2,130$1,454$790
31 years$5,846$4,139$2,870$1,956$1,315$696
32 years$5,601$3,916$2,678$1,798$1,189$614
33 years$5,373$3,708$2,500$1,653$1,076$542
34 years$5,158$3,515$2,336$1,521$975$478
35 years$4,955$3,334$2,184$1,400$883$422
36 years$4,765$3,164$2,043$1,290$800$372
37 years$4,585$3,005$1,912$1,188$725$329
38 years$4,415$2,856$1,791$1,095$657$290
39 years$4,254$2,716$1,678$1,010$596$256
40 years$4,101$2,584$1,573$931$541$227
41 years$3,957$2,460$1,475$859$490$200
42 years$3,819$2,342$1,383$793$445$177
43 years$3,689$2,232$1,298$732$404$156
44 years$3,564$2,127$1,218$676$367$138
45 years$3,446$2,029$1,144$624$333$122
46 years$3,333$1,935$1,074$577$302$108
47 years$3,225$1,847$1,009$533$274$95
48 years$3,122$1,763$949$492$249$84
49 years$3,023$1,684$892$455$226$74
50 years$2,929$1,608$838$421$206$66

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 $5,987 every year, while hoping to spend $36,263 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: 49/43/8 Blend
55$3,000,000$3,000,000$3,000,000$3,000,000
56$3,312,176$3,153,176$3,106,676$3,467,216
57$3,611,434$3,269,098$3,172,166$3,689,813
58$3,940,001$3,389,484$3,238,634$3,927,121
59$4,300,829$3,514,517$3,306,076$4,184,028
60$4,697,168$3,644,382$3,374,484$4,462,373
61$5,132,599$3,779,277$3,443,849$4,764,177
62$5,611,069$3,919,406$3,514,163$5,091,664
63$6,136,923$4,064,982$3,585,412$5,447,276
64$6,714,950$4,216,228$3,657,585$5,833,696
65$7,350,426$4,373,374$3,730,665$6,253,878
66$8,049,163$4,536,663$3,804,636$6,711,068
67$8,817,565$4,706,346$3,879,478$7,208,835
68$9,662,686$4,882,687$3,955,170$7,751,105
69$10,592,300$5,065,958$4,031,688$8,342,199
70$11,614,971$5,256,447$4,109,006$8,986,868
71$12,740,136$5,454,451$4,187,096$9,690,338
72$13,978,191$5,660,280$4,265,925$10,458,363
73$15,340,593$5,874,260$4,345,460$11,297,271
74$16,839,963$6,096,729$4,425,663$12,214,028
75$18,490,210$6,328,039$4,506,493$13,216,301
76$20,306,658$6,568,560$4,587,907$14,312,526
77$22,306,193$6,818,675$4,669,858$15,511,991
78$24,507,421$7,078,786$4,752,294$16,824,921
79$26,930,842$7,349,311$4,835,161$18,262,569
80$29,599,048$7,630,688$4,918,399$19,837,327
81$32,536,931$7,923,371$5,001,945$21,562,836
82$35,771,919$8,227,838$5,085,731$23,454,117
83$39,334,238$8,544,584$5,169,686$25,527,708
84$43,257,190$8,874,129$5,253,730$27,801,822
85$47,577,476$9,217,014$5,337,783$30,296,511
86$52,335,534$9,573,803$5,421,754$33,033,861
87$57,575,927$9,945,088$5,505,552$36,038,192
88$63,347,758$10,331,484$5,589,074$39,336,290
89$69,705,138$10,733,635$5,672,216$42,957,654
90$76,707,691$11,152,212$5,754,865$46,934,776
91$84,421,122$11,587,917$5,836,899$51,303,440
92$92,917,835$12,041,483$5,918,194$56,103,064
93$102,277,613$12,513,675$5,998,613$61,377,063
94$112,588,377$13,005,293$6,078,014$67,173,262
95$123,947,011$13,517,171$6,156,246$73,544,340
96$136,460,275$14,050,181$6,233,149$80,548,327
97$150,245,818$14,605,236$6,308,555$88,249,148
98$165,433,284$15,183,285$6,382,284$96,717,222
99$182,165,538$15,785,324$6,454,149$106,030,128
100$200,600,010$16,412,392$6,523,950$116,273,326