Can I retire at age 56 with 3,100,000?

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 $3,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$255,995$253,715$251,490$249,319$247,198$241,812
2 years$126,730$124,370$122,083$119,865$117,714$112,314
3 years$83,648$81,277$78,996$76,799$74,682$69,438
4 years$62,110$59,747$57,489$55,329$53,264$48,216
5 years$49,192$46,843$44,613$42,498$40,490$35,652
6 years$40,582$38,251$36,054$33,986$32,039$27,415
7 years$34,434$32,123$29,961$27,942$26,056$21,649
8 years$29,826$27,535$25,410$23,440$21,616$17,423
9 years$26,243$23,974$21,885$19,965$18,204$14,222
10 years$23,379$21,132$19,080$17,210$15,511$11,736
11 years$21,037$18,813$16,798$14,978$13,340$9,768
12 years$19,087$16,885$14,908$13,138$11,560$8,185
13 years$17,438$15,259$13,319$11,599$10,080$6,896
14 years$16,026$13,870$11,967$10,296$8,836$5,837
15 years$14,803$12,671$10,805$9,182$7,780$4,959
16 years$13,734$11,625$9,796$8,222$6,876$4,225
17 years$12,792$10,706$8,914$7,387$6,097$3,610
18 years$11,956$9,893$8,137$6,657$5,421$3,091
19 years$11,208$9,169$7,449$6,015$4,832$2,651
20 years$10,536$8,520$6,837$5,448$4,316$2,278
21 years$9,929$7,936$6,288$4,945$3,862$1,960
22 years$9,377$7,408$5,796$4,496$3,462$1,688
23 years$8,875$6,929$5,351$4,094$3,108$1,455
24 years$8,415$6,492$4,949$3,734$2,793$1,255
25 years$7,992$6,092$4,584$3,410$2,514$1,084
26 years$7,603$5,726$4,251$3,118$2,264$936
27 years$7,243$5,389$3,948$2,854$2,041$809
28 years$6,909$5,078$3,670$2,615$1,842$700
29 years$6,599$4,790$3,415$2,398$1,663$606
30 years$6,310$4,524$3,181$2,201$1,503$524
31 years$6,041$4,276$2,966$2,021$1,359$454
32 years$5,788$4,046$2,767$1,858$1,229$393
33 years$5,552$3,832$2,584$1,708$1,112$340
34 years$5,329$3,632$2,414$1,572$1,007$295
35 years$5,120$3,445$2,257$1,447$912$255
36 years$4,924$3,270$2,111$1,333$826$221
37 years$4,738$3,105$1,976$1,228$749$192
38 years$4,562$2,951$1,850$1,132$679$166
39 years$4,396$2,806$1,734$1,043$616$144
40 years$4,238$2,670$1,625$962$559$125
41 years$4,089$2,542$1,524$888$507$108
42 years$3,947$2,420$1,429$819$460$94
43 years$3,812$2,306$1,341$756$417$81
44 years$3,683$2,198$1,259$698$379$71
45 years$3,561$2,096$1,182$645$344$61
46 years$3,444$2,000$1,110$596$312$53
47 years$3,333$1,908$1,043$550$283$46
48 years$3,226$1,822$980$509$257$40
49 years$3,124$1,740$921$470$234$35
50 years$3,027$1,662$866$435$212$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $3,100,000, adding $2,199 every year, while hoping to spend $43,539 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: 78/11/11 Blend
55$3,100,000$3,100,000$3,100,000$3,100,000
56$3,418,468$3,254,168$3,206,118$3,678,164
57$3,720,827$3,367,297$3,267,198$3,962,364
58$4,052,567$3,484,511$3,328,865$4,268,179
59$4,416,639$3,605,962$3,391,092$4,602,343
60$4,816,294$3,731,812$3,453,852$4,967,665
61$5,255,112$3,862,227$3,517,112$5,367,238
62$5,737,038$3,997,380$3,580,839$5,804,468
63$6,266,416$4,137,452$3,644,998$6,283,109
64$6,848,033$4,282,630$3,709,548$6,807,289
65$7,487,162$4,433,108$3,774,447$7,381,561
66$8,189,612$4,589,090$3,839,650$8,010,936
67$8,961,782$4,750,785$3,905,109$8,700,934
68$9,810,724$4,918,414$3,970,770$9,457,635
69$10,744,206$5,092,204$4,036,579$10,287,735
70$11,770,786$5,272,393$4,102,475$11,198,613
71$12,899,893$5,459,227$4,168,395$12,198,395
72$14,141,916$5,652,963$4,234,270$13,296,032
73$15,508,302$5,853,869$4,300,029$14,501,387
74$17,011,663$6,062,223$4,365,593$15,825,324
75$18,665,894$6,278,313$4,430,882$17,279,811
76$20,486,306$6,502,441$4,495,808$18,878,034
77$22,489,770$6,734,922$4,560,278$20,634,519
78$24,694,874$6,976,080$4,624,195$22,565,272
79$27,122,099$7,226,256$4,687,454$24,687,926
80$29,794,015$7,485,804$4,749,945$27,021,907
81$32,735,487$7,755,092$4,811,551$29,588,620
82$35,973,919$8,034,503$4,872,150$32,411,649
83$39,539,502$8,324,437$4,931,610$35,516,977
84$43,465,506$8,625,309$4,989,794$38,933,235
85$47,788,591$8,937,553$5,046,555$42,691,968
86$52,549,153$9,261,619$5,101,741$46,827,933
87$57,791,705$9,597,977$5,155,188$51,379,428
88$63,565,298$9,947,117$5,206,726$56,388,651
89$69,923,981$10,309,548$5,256,173$61,902,101
90$76,927,313$10,685,801$5,303,341$67,971,012
91$84,640,923$11,076,430$5,348,027$74,651,838
92$93,137,133$11,482,012$5,390,022$82,006,786
93$102,495,636$11,903,146$5,429,104$90,104,401
94$112,804,250$12,340,458$5,465,037$99,020,215
95$124,159,745$12,794,602$5,497,577$108,837,455
96$136,668,758$13,266,257$5,526,466$119,647,831
97$150,448,800$13,756,132$5,551,430$131,552,402
98$165,629,360$14,264,965$5,572,186$144,662,525
99$182,353,133$14,793,527$5,588,433$159,100,911
100$200,777,363$15,342,620$5,599,855$175,002,776