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%18.5%
1 years$280,769$278,268$275,828$273,446$271,121$261,814
2 years$138,994$136,406$133,897$131,465$129,105$119,823
3 years$91,743$89,143$86,640$84,231$81,910$72,944
4 years$68,121$65,529$63,052$60,683$58,419$49,839
5 years$53,952$51,376$48,931$46,611$44,409$36,237
6 years$44,509$41,952$39,543$37,275$35,139$27,381
7 years$37,767$35,231$32,861$30,646$28,578$21,233
8 years$32,712$30,200$27,869$25,708$23,708$16,770
9 years$28,783$26,294$24,003$21,897$19,965$13,426
10 years$25,642$23,177$20,926$18,876$17,012$10,860
11 years$23,073$20,633$18,423$16,428$14,631$8,855
12 years$20,934$18,519$16,350$14,409$12,679$7,265
13 years$19,126$16,736$14,608$12,721$11,056$5,991
14 years$17,577$15,213$13,125$11,292$9,692$4,960
15 years$16,236$13,897$11,850$10,071$8,533$4,119
16 years$15,063$12,750$10,744$9,017$7,542$3,431
17 years$14,030$11,742$9,777$8,102$6,687$2,864
18 years$13,112$10,851$8,925$7,302$5,946$2,394
19 years$12,293$10,056$8,170$6,598$5,300$2,005
20 years$11,556$9,345$7,498$5,975$4,734$1,681
21 years$10,890$8,704$6,897$5,423$4,236$1,411
22 years$10,285$8,125$6,357$4,931$3,797$1,185
23 years$9,734$7,599$5,869$4,491$3,408$997
24 years$9,229$7,120$5,428$4,096$3,064$838
25 years$8,766$6,682$5,027$3,740$2,757$705
26 years$8,339$6,280$4,663$3,420$2,483$594
27 years$7,944$5,910$4,330$3,130$2,239$500
28 years$7,578$5,569$4,025$2,868$2,020$422
29 years$7,238$5,254$3,746$2,630$1,824$355
30 years$6,921$4,962$3,489$2,414$1,648$299
31 years$6,625$4,690$3,253$2,217$1,490$252
32 years$6,348$4,438$3,035$2,037$1,348$213
33 years$6,089$4,203$2,834$1,874$1,220$180
34 years$5,845$3,983$2,648$1,724$1,104$151
35 years$5,616$3,778$2,475$1,587$1,000$128
36 years$5,400$3,586$2,316$1,461$906$108
37 years$5,196$3,406$2,167$1,347$821$91
38 years$5,003$3,237$2,030$1,241$745$77
39 years$4,821$3,078$1,901$1,144$675$65
40 years$4,648$2,928$1,782$1,056$613$55
41 years$4,484$2,788$1,671$974$556$46
42 years$4,329$2,655$1,568$899$504$39
43 years$4,181$2,529$1,471$830$458$33
44 years$4,040$2,411$1,381$766$415$28
45 years$3,905$2,299$1,297$707$377$23
46 years$3,777$2,193$1,218$654$342$20
47 years$3,655$2,093$1,144$604$311$17
48 years$3,538$1,998$1,075$558$282$14
49 years$3,426$1,908$1,011$516$256$12
50 years$3,320$1,823$950$477$233$10

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 $5,940 every year, while hoping to spend $50,109 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: 52/28/20 Blend
55$3,400,000$3,400,000$3,400,000$3,400,000
56$3,752,927$3,572,727$3,520,027$3,927,098
57$4,082,410$3,694,475$3,584,632$4,169,386
58$4,443,821$3,820,509$3,649,723$4,427,085
59$4,840,363$3,950,987$3,715,261$4,706,317
60$5,275,566$4,086,071$3,781,208$5,009,145
61$5,753,316$4,225,931$3,847,521$5,337,837
62$6,277,896$4,370,743$3,914,154$5,694,889
63$6,854,021$4,520,689$3,981,058$6,083,048
64$7,486,889$4,675,960$4,048,181$6,505,335
65$8,182,222$4,836,753$4,115,466$6,965,078
66$8,946,327$5,003,272$4,182,852$7,465,937
67$9,786,150$5,175,730$4,250,275$8,011,943
68$10,709,345$5,354,349$4,317,667$8,607,533
69$11,724,344$5,539,358$4,384,955$9,257,591
70$12,840,436$5,730,995$4,452,060$9,967,493
71$14,067,856$5,929,509$4,518,899$10,743,162
72$15,417,880$6,135,158$4,585,385$11,591,116
73$16,902,932$6,348,210$4,651,424$12,518,535
74$18,536,702$6,568,942$4,716,917$13,533,324
75$20,334,270$6,797,645$4,781,759$14,644,189
76$22,312,255$7,034,620$4,845,838$15,860,718
77$24,488,968$7,280,178$4,909,035$17,193,472
78$26,884,582$7,534,646$4,971,228$18,654,082
79$29,521,327$7,798,362$5,032,282$20,255,358
80$32,423,698$8,071,678$5,092,059$22,011,411
81$35,618,684$8,354,958$5,150,411$23,937,783
82$39,136,023$8,648,584$5,207,183$26,051,597
83$43,008,483$8,952,951$5,262,210$28,371,713
84$47,272,173$9,268,470$5,315,319$30,918,906
85$51,966,880$9,595,570$5,366,326$33,716,065
86$57,136,444$9,934,695$5,415,041$36,788,403
87$62,829,175$10,286,310$5,461,259$40,163,698
88$69,098,307$10,650,895$5,504,767$43,872,553
89$76,002,497$11,028,952$5,545,340$47,948,683
90$83,606,385$11,421,003$5,582,741$52,429,231
91$91,981,195$11,827,591$5,616,722$57,355,123
92$101,205,415$12,249,281$5,647,020$62,771,445
93$111,365,533$12,686,661$5,673,361$68,727,876
94$122,556,853$13,140,344$5,695,455$75,279,150
95$134,884,397$13,610,966$5,712,998$82,485,572
96$148,463,894$14,099,191$5,725,671$90,413,588
97$163,422,869$14,605,710$5,733,139$99,136,412
98$179,901,853$15,131,241$5,735,051$108,734,710
99$198,055,704$15,676,534$5,731,037$119,297,366
100$218,055,070$16,242,368$5,720,710$130,922,318