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%18.3%
1 years$280,769$278,268$275,828$273,446$271,121$262,023
2 years$138,994$136,406$133,897$131,465$129,105$120,029
3 years$91,743$89,143$86,640$84,231$81,910$73,140
4 years$68,121$65,529$63,052$60,683$58,419$50,023
5 years$53,952$51,376$48,931$46,611$44,409$36,409
6 years$44,509$41,952$39,543$37,275$35,139$27,542
7 years$37,767$35,231$32,861$30,646$28,578$21,382
8 years$32,712$30,200$27,869$25,708$23,708$16,908
9 years$28,783$26,294$24,003$21,897$19,965$13,553
10 years$25,642$23,177$20,926$18,876$17,012$10,977
11 years$23,073$20,633$18,423$16,428$14,631$8,961
12 years$20,934$18,519$16,350$14,409$12,679$7,362
13 years$19,126$16,736$14,608$12,721$11,056$6,079
14 years$17,577$15,213$13,125$11,292$9,692$5,040
15 years$16,236$13,897$11,850$10,071$8,533$4,192
16 years$15,063$12,750$10,744$9,017$7,542$3,496
17 years$14,030$11,742$9,777$8,102$6,687$2,922
18 years$13,112$10,851$8,925$7,302$5,946$2,447
19 years$12,293$10,056$8,170$6,598$5,300$2,052
20 years$11,556$9,345$7,498$5,975$4,734$1,724
21 years$10,890$8,704$6,897$5,423$4,236$1,449
22 years$10,285$8,125$6,357$4,931$3,797$1,219
23 years$9,734$7,599$5,869$4,491$3,408$1,026
24 years$9,229$7,120$5,428$4,096$3,064$865
25 years$8,766$6,682$5,027$3,740$2,757$729
26 years$8,339$6,280$4,663$3,420$2,483$615
27 years$7,944$5,910$4,330$3,130$2,239$519
28 years$7,578$5,569$4,025$2,868$2,020$438
29 years$7,238$5,254$3,746$2,630$1,824$369
30 years$6,921$4,962$3,489$2,414$1,648$312
31 years$6,625$4,690$3,253$2,217$1,490$263
32 years$6,348$4,438$3,035$2,037$1,348$222
33 years$6,089$4,203$2,834$1,874$1,220$188
34 years$5,845$3,983$2,648$1,724$1,104$159
35 years$5,616$3,778$2,475$1,587$1,000$134
36 years$5,400$3,586$2,316$1,461$906$113
37 years$5,196$3,406$2,167$1,347$821$96
38 years$5,003$3,237$2,030$1,241$745$81
39 years$4,821$3,078$1,901$1,144$675$68
40 years$4,648$2,928$1,782$1,056$613$58
41 years$4,484$2,788$1,671$974$556$49
42 years$4,329$2,655$1,568$899$504$41
43 years$4,181$2,529$1,471$830$458$35
44 years$4,040$2,411$1,381$766$415$29
45 years$3,905$2,299$1,297$707$377$25
46 years$3,777$2,193$1,218$654$342$21
47 years$3,655$2,093$1,144$604$311$18
48 years$3,538$1,998$1,075$558$282$15
49 years$3,426$1,908$1,011$516$256$13
50 years$3,320$1,823$950$477$233$11

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 $4,885 every year, while hoping to spend $21,509 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: 51/37/12 Blend
55$3,400,000$3,400,000$3,400,000$3,400,000
56$3,751,839$3,571,639$3,518,939$3,930,914
57$4,111,641$3,723,764$3,613,938$4,206,027
58$4,507,422$3,882,622$3,711,399$4,502,262
59$4,942,829$4,048,520$3,811,380$4,823,815
60$5,421,881$4,221,781$3,913,945$5,173,076
61$5,949,005$4,402,740$4,019,154$5,552,672
62$6,529,079$4,591,750$4,127,071$5,965,491
63$7,167,479$4,789,180$4,237,762$6,414,703
64$7,870,128$4,995,416$4,351,293$6,903,796
65$8,643,550$5,210,861$4,467,731$7,436,603
66$9,494,939$5,435,939$4,587,146$8,017,338
67$10,432,216$5,671,093$4,709,609$8,650,635
68$11,464,112$5,916,787$4,835,191$9,341,590
69$12,600,247$6,173,505$4,963,966$10,095,807
70$13,851,222$6,441,757$5,096,009$10,919,451
71$15,228,718$6,722,075$5,231,396$11,819,301
72$16,745,606$7,015,015$5,370,206$12,802,819
73$18,416,068$7,321,161$5,512,519$13,878,212
74$20,255,734$7,641,124$5,658,415$15,054,509
75$22,281,824$7,975,545$5,807,977$16,341,650
76$24,513,315$8,325,091$5,961,289$17,750,570
77$26,971,119$8,690,467$6,118,438$19,293,304
78$29,678,278$9,072,405$6,279,511$20,983,099
79$32,660,185$9,471,675$6,444,597$22,834,536
80$35,944,820$9,889,084$6,613,787$24,863,664
81$39,563,017$10,325,474$6,787,174$27,088,152
82$43,548,752$10,781,730$6,964,852$29,527,449
83$47,939,468$11,258,777$7,146,917$32,202,971
84$52,776,421$11,757,585$7,333,467$35,138,294
85$58,105,078$12,279,169$7,524,600$38,359,376
86$63,975,540$12,824,592$7,720,419$41,894,801
87$70,443,018$13,394,969$7,921,025$45,776,044
88$77,568,350$13,991,467$8,126,524$50,037,763
89$85,418,581$14,615,308$8,337,021$54,718,127
90$94,067,590$15,267,772$8,552,625$59,859,168
91$103,596,792$15,950,201$8,773,446$65,507,176
92$114,095,904$16,664,000$8,999,595$71,713,134
93$125,663,790$17,410,640$9,231,186$78,533,191
94$138,409,399$18,191,664$9,468,333$86,029,191
95$152,452,789$19,008,687$9,711,154$94,269,251
96$167,926,263$19,863,401$9,959,766$103,328,400
97$184,975,614$20,757,580$10,214,291$113,289,279
98$203,761,506$21,693,081$10,474,849$124,242,922
99$224,460,989$22,671,851$10,741,566$136,289,604
100$247,269,166$23,695,929$11,014,565$149,539,785