Can I retire at age 56 with 3,400,000?

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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$280,769$278,268$275,828$273,446$271,121$264,889
2 years$138,994$136,406$133,897$131,465$129,105$122,861
3 years$91,743$89,143$86,640$84,231$81,910$75,849
4 years$68,121$65,529$63,052$60,683$58,419$52,587
5 years$53,952$51,376$48,931$46,611$44,409$38,823
6 years$44,509$41,952$39,543$37,275$35,139$29,805
7 years$37,767$35,231$32,861$30,646$28,578$23,496
8 years$32,712$30,200$27,869$25,708$23,708$18,877
9 years$28,783$26,294$24,003$21,897$19,965$15,381
10 years$25,642$23,177$20,926$18,876$17,012$12,669
11 years$23,073$20,633$18,423$16,428$14,631$10,524
12 years$20,934$18,519$16,350$14,409$12,679$8,801
13 years$19,126$16,736$14,608$12,721$11,056$7,401
14 years$17,577$15,213$13,125$11,292$9,692$6,251
15 years$16,236$13,897$11,850$10,071$8,533$5,299
16 years$15,063$12,750$10,744$9,017$7,542$4,506
17 years$14,030$11,742$9,777$8,102$6,687$3,842
18 years$13,112$10,851$8,925$7,302$5,946$3,282
19 years$12,293$10,056$8,170$6,598$5,300$2,809
20 years$11,556$9,345$7,498$5,975$4,734$2,408
21 years$10,890$8,704$6,897$5,423$4,236$2,067
22 years$10,285$8,125$6,357$4,931$3,797$1,776
23 years$9,734$7,599$5,869$4,491$3,408$1,527
24 years$9,229$7,120$5,428$4,096$3,064$1,315
25 years$8,766$6,682$5,027$3,740$2,757$1,132
26 years$8,339$6,280$4,663$3,420$2,483$976
27 years$7,944$5,910$4,330$3,130$2,239$842
28 years$7,578$5,569$4,025$2,868$2,020$726
29 years$7,238$5,254$3,746$2,630$1,824$627
30 years$6,921$4,962$3,489$2,414$1,648$541
31 years$6,625$4,690$3,253$2,217$1,490$467
32 years$6,348$4,438$3,035$2,037$1,348$403
33 years$6,089$4,203$2,834$1,874$1,220$349
34 years$5,845$3,983$2,648$1,724$1,104$301
35 years$5,616$3,778$2,475$1,587$1,000$260
36 years$5,400$3,586$2,316$1,461$906$225
37 years$5,196$3,406$2,167$1,347$821$194
38 years$5,003$3,237$2,030$1,241$745$168
39 years$4,821$3,078$1,901$1,144$675$145
40 years$4,648$2,928$1,782$1,056$613$126
41 years$4,484$2,788$1,671$974$556$109
42 years$4,329$2,655$1,568$899$504$94
43 years$4,181$2,529$1,471$830$458$81
44 years$4,040$2,411$1,381$766$415$70
45 years$3,905$2,299$1,297$707$377$61
46 years$3,777$2,193$1,218$654$342$53
47 years$3,655$2,093$1,144$604$311$45
48 years$3,538$1,998$1,075$558$282$39
49 years$3,426$1,908$1,011$516$256$34
50 years$3,320$1,823$950$477$233$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $3,400,000, adding $4,345 every year, while hoping to spend $24,406 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: 21/50/29 Blend
55$3,400,000$3,400,000$3,400,000$3,400,000
56$3,751,282$3,571,082$3,518,382$3,795,417
57$4,107,945$3,720,097$3,610,280$3,985,351
58$4,500,169$3,875,596$3,704,438$4,185,945
59$4,931,557$4,037,871$3,800,908$4,399,850
60$5,406,076$4,207,227$3,899,738$4,628,160
61$5,928,098$4,383,983$4,000,982$4,872,069
62$6,502,441$4,568,475$4,104,691$5,132,884
63$7,134,411$4,761,051$4,210,919$5,412,032
64$7,829,857$4,962,078$4,319,721$5,711,076
65$8,595,222$5,171,940$4,431,151$6,031,723
66$9,437,605$5,391,036$4,545,266$6,375,843
67$10,364,831$5,619,787$4,662,122$6,745,485
68$11,385,518$5,858,631$4,781,778$7,142,891
69$12,509,165$6,108,028$4,904,291$7,570,517
70$13,746,237$6,368,458$5,029,722$8,031,056
71$15,108,266$6,640,425$5,158,131$8,527,457
72$16,607,959$6,924,456$5,289,578$9,062,958
73$18,259,319$7,221,102$5,424,127$9,641,105
74$20,077,773$7,530,941$5,561,839$10,265,791
75$22,080,325$7,854,575$5,702,779$10,941,287
76$24,285,706$8,192,638$5,847,011$11,672,278
77$26,714,563$8,545,791$5,994,600$12,463,910
78$29,389,641$8,914,728$6,145,612$13,321,829
79$32,336,009$9,300,174$6,300,115$14,252,238
80$35,581,288$9,702,889$6,458,174$15,261,947
81$39,155,916$10,123,667$6,619,860$16,358,438
82$43,093,434$10,563,341$6,785,240$17,549,930
83$47,430,803$11,022,783$6,954,384$18,845,455
84$52,208,751$11,502,906$7,127,362$20,254,939
85$57,472,160$12,004,665$7,304,246$21,789,289
86$63,270,488$12,529,061$7,485,105$23,460,499
87$69,658,234$13,077,142$7,670,013$25,281,751
88$76,695,457$13,650,004$7,859,041$27,267,541
89$84,448,337$14,248,798$8,052,262$29,433,810
90$92,989,803$14,874,725$8,249,749$31,798,088
91$102,400,223$15,529,047$8,451,576$34,379,656
92$112,768,158$16,213,082$8,657,816$37,199,724
93$124,191,200$16,928,213$8,868,542$40,281,623
94$136,776,895$17,675,888$9,083,830$43,651,024
95$150,643,753$18,457,621$9,303,754$47,336,169
96$165,922,372$19,275,001$9,528,386$51,368,136
97$182,756,669$20,129,691$9,757,802$55,781,126
98$201,305,236$21,023,433$9,992,075$60,612,775
99$221,742,839$21,958,050$10,231,279$65,904,508
100$244,262,069$22,935,455$10,475,487$71,701,917