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%15.1%
1 years$255,995$253,715$251,490$249,319$247,198$242,009
2 years$126,730$124,370$122,083$119,865$117,714$112,510
3 years$83,648$81,277$78,996$76,799$74,682$69,627
4 years$62,110$59,747$57,489$55,329$53,264$48,396
5 years$49,192$46,843$44,613$42,498$40,490$35,823
6 years$40,582$38,251$36,054$33,986$32,039$27,577
7 years$34,434$32,123$29,961$27,942$26,056$21,801
8 years$29,826$27,535$25,410$23,440$21,616$17,566
9 years$26,243$23,974$21,885$19,965$18,204$14,356
10 years$23,379$21,132$19,080$17,210$15,511$11,861
11 years$21,037$18,813$16,798$14,978$13,340$9,884
12 years$19,087$16,885$14,908$13,138$11,560$8,293
13 years$17,438$15,259$13,319$11,599$10,080$6,997
14 years$16,026$13,870$11,967$10,296$8,836$5,930
15 years$14,803$12,671$10,805$9,182$7,780$5,045
16 years$13,734$11,625$9,796$8,222$6,876$4,305
17 years$12,792$10,706$8,914$7,387$6,097$3,683
18 years$11,956$9,893$8,137$6,657$5,421$3,158
19 years$11,208$9,169$7,449$6,015$4,832$2,713
20 years$10,536$8,520$6,837$5,448$4,316$2,335
21 years$9,929$7,936$6,288$4,945$3,862$2,011
22 years$9,377$7,408$5,796$4,496$3,462$1,735
23 years$8,875$6,929$5,351$4,094$3,108$1,498
24 years$8,415$6,492$4,949$3,734$2,793$1,295
25 years$7,992$6,092$4,584$3,410$2,514$1,120
26 years$7,603$5,726$4,251$3,118$2,264$969
27 years$7,243$5,389$3,948$2,854$2,041$839
28 years$6,909$5,078$3,670$2,615$1,842$727
29 years$6,599$4,790$3,415$2,398$1,663$630
30 years$6,310$4,524$3,181$2,201$1,503$546
31 years$6,041$4,276$2,966$2,021$1,359$473
32 years$5,788$4,046$2,767$1,858$1,229$410
33 years$5,552$3,832$2,584$1,708$1,112$356
34 years$5,329$3,632$2,414$1,572$1,007$309
35 years$5,120$3,445$2,257$1,447$912$268
36 years$4,924$3,270$2,111$1,333$826$233
37 years$4,738$3,105$1,976$1,228$749$202
38 years$4,562$2,951$1,850$1,132$679$175
39 years$4,396$2,806$1,734$1,043$616$152
40 years$4,238$2,670$1,625$962$559$132
41 years$4,089$2,542$1,524$888$507$115
42 years$3,947$2,420$1,429$819$460$100
43 years$3,812$2,306$1,341$756$417$87
44 years$3,683$2,198$1,259$698$379$75
45 years$3,561$2,096$1,182$645$344$65
46 years$3,444$2,000$1,110$596$312$57
47 years$3,333$1,908$1,043$550$283$49
48 years$3,226$1,822$980$509$257$43
49 years$3,124$1,740$921$470$234$37
50 years$3,027$1,662$866$435$212$32

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 $6,350 every year, while hoping to spend $58,159 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: 47/24/29 Blend
55$3,100,000$3,100,000$3,100,000$3,100,000
56$3,422,750$3,258,450$3,210,400$3,554,877
57$3,709,990$3,356,233$3,256,068$3,746,705
58$4,024,579$3,456,859$3,301,316$3,948,674
59$4,369,245$3,560,404$3,346,069$4,166,812
60$4,746,994$3,666,950$3,390,248$4,402,672
61$5,161,133$3,776,576$3,433,768$4,657,963
62$5,615,308$3,889,368$3,476,538$4,934,567
63$6,113,533$4,005,410$3,518,465$5,234,556
64$6,660,228$4,124,790$3,559,449$5,560,213
65$7,260,265$4,247,598$3,599,384$5,914,052
66$7,919,007$4,373,926$3,638,159$6,298,840
67$8,642,364$4,503,867$3,675,656$6,717,626
68$9,436,846$4,637,517$3,711,751$7,173,770
69$10,309,623$4,774,974$3,746,313$7,670,972
70$11,268,595$4,916,338$3,779,205$8,213,306
71$12,322,465$5,061,712$3,810,281$8,805,264
72$13,480,821$5,211,200$3,839,390$9,451,791
73$14,754,225$5,364,909$3,866,370$10,158,337
74$16,154,314$5,522,948$3,891,052$10,930,907
75$17,693,911$5,685,429$3,913,259$11,776,117
76$19,387,139$5,852,465$3,932,803$12,701,255
77$21,249,563$6,024,171$3,949,487$13,714,352
78$23,298,330$6,200,667$3,963,106$14,824,258
79$25,552,332$6,382,072$3,973,443$16,040,724
80$28,032,386$6,568,510$3,980,270$17,374,495
81$30,761,428$6,760,105$3,983,347$18,837,409
82$33,764,729$6,956,985$3,982,424$20,442,513
83$37,070,134$7,159,280$3,977,238$22,204,184
84$40,708,324$7,367,122$3,967,512$24,138,262
85$44,713,106$7,580,644$3,952,957$26,262,206
86$49,121,731$7,799,984$3,933,269$28,595,252
87$53,975,244$8,025,279$3,908,130$31,158,599
88$59,318,873$8,256,672$3,877,207$33,975,609
89$65,202,454$8,494,305$3,840,149$37,072,024
90$71,680,902$8,738,323$3,796,591$40,476,215
91$78,814,727$8,988,874$3,746,150$44,219,446
92$86,670,607$9,246,107$3,688,424$48,336,168
93$95,322,015$9,510,172$3,622,992$52,864,349
94$104,849,913$9,781,223$3,549,415$57,845,830
95$115,343,516$10,059,415$3,467,232$63,326,719
96$126,901,132$10,344,904$3,375,962$69,357,830
97$139,631,092$10,637,848$3,275,101$75,995,161
98$153,652,768$10,938,407$3,164,121$83,300,422
99$169,097,702$11,246,741$3,042,471$91,341,620
100$186,110,849$11,563,013$2,909,576$100,193,701