Can I retire at age 56 with 3,500,000?

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 $3,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$289,027$286,452$283,940$281,489$279,095$272,348
2 years$143,083$140,418$137,835$135,331$132,902$126,145
3 years$94,441$91,765$89,188$86,708$84,319$77,763
4 years$70,125$67,457$64,906$62,468$60,137$53,833
5 years$55,539$52,887$50,370$47,982$45,715$39,680
6 years$45,818$43,186$40,706$38,371$36,173$30,413
7 years$38,878$36,268$33,827$31,547$29,418$23,935
8 years$33,674$31,088$28,688$26,464$24,405$19,196
9 years$29,630$27,068$24,709$22,542$20,553$15,613
10 years$26,396$23,859$21,542$19,431$17,512$12,836
11 years$23,752$21,240$18,965$16,911$15,061$10,642
12 years$21,550$19,064$16,831$14,833$13,051$8,883
13 years$19,688$17,228$15,038$13,095$11,381$7,454
14 years$18,094$15,660$13,511$11,625$9,977$6,283
15 years$16,713$14,306$12,199$10,367$8,784$5,316
16 years$15,506$13,125$11,060$9,283$7,763$4,510
17 years$14,443$12,088$10,064$8,340$6,884$3,837
18 years$13,498$11,170$9,187$7,516$6,121$3,271
19 years$12,654$10,352$8,411$6,792$5,455$2,793
20 years$11,895$9,620$7,719$6,151$4,873$2,389
21 years$11,210$8,960$7,100$5,583$4,361$2,046
22 years$10,587$8,364$6,544$5,076$3,909$1,754
23 years$10,020$7,823$6,042$4,623$3,509$1,505
24 years$9,501$7,329$5,588$4,216$3,154$1,292
25 years$9,024$6,878$5,175$3,850$2,838$1,110
26 years$8,584$6,464$4,800$3,521$2,556$955
27 years$8,177$6,084$4,457$3,223$2,305$821
28 years$7,801$5,733$4,143$2,953$2,080$707
29 years$7,451$5,408$3,856$2,708$1,878$608
30 years$7,124$5,107$3,592$2,485$1,697$524
31 years$6,820$4,828$3,348$2,282$1,534$451
32 years$6,535$4,569$3,124$2,097$1,388$389
33 years$6,268$4,326$2,917$1,929$1,256$335
34 years$6,017$4,100$2,725$1,775$1,137$289
35 years$5,781$3,889$2,548$1,634$1,030$249
36 years$5,559$3,691$2,384$1,504$933$215
37 years$5,349$3,506$2,231$1,386$846$185
38 years$5,151$3,332$2,089$1,278$767$160
39 years$4,963$3,168$1,957$1,178$695$138
40 years$4,785$3,014$1,835$1,087$631$119
41 years$4,616$2,869$1,720$1,003$572$102
42 years$4,456$2,733$1,614$925$519$88
43 years$4,304$2,604$1,514$854$471$76
44 years$4,158$2,482$1,421$789$428$66
45 years$4,020$2,367$1,335$728$388$57
46 years$3,888$2,258$1,254$673$352$49
47 years$3,763$2,155$1,178$622$320$42
48 years$3,642$2,057$1,107$574$291$36
49 years$3,527$1,964$1,040$531$264$31
50 years$3,417$1,876$978$491$240$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $3,500,000, adding $2,409 every year, while hoping to spend $32,294 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: 77/9/14 Blend
55$3,500,000$3,500,000$3,500,000$3,500,000
56$3,859,485$3,673,985$3,619,735$4,145,310
57$4,218,792$3,819,650$3,706,635$4,479,751
58$4,613,666$3,971,369$3,795,365$4,842,074
59$5,047,700$4,129,407$3,885,950$5,238,495
60$5,524,855$4,294,037$3,978,418$5,672,402
61$6,049,491$4,465,546$4,072,797$6,147,529
62$6,626,415$4,644,234$4,169,111$6,667,985
63$7,260,921$4,830,413$4,267,388$7,238,297
64$7,958,843$5,024,411$4,367,654$7,863,449
65$8,726,608$5,226,571$4,469,934$8,548,931
66$9,571,299$5,437,249$4,574,253$9,300,790
67$10,500,716$5,656,820$4,680,635$10,125,686
68$11,523,459$5,885,673$4,789,106$11,030,954
69$12,648,999$6,124,218$4,899,688$12,024,674
70$13,887,773$6,372,882$5,012,404$13,115,746
71$15,251,283$6,632,110$5,127,277$14,313,975
72$16,752,200$6,902,369$5,244,327$15,630,161
73$18,404,487$7,184,147$5,363,574$17,076,200
74$20,223,529$7,477,955$5,485,038$18,665,199
75$22,226,280$7,784,326$5,608,738$20,411,597
76$24,431,420$8,103,817$5,734,690$22,331,299
77$26,859,533$8,437,013$5,862,910$24,441,830
78$29,533,301$8,784,522$5,993,414$26,762,496
79$32,477,717$9,146,983$6,126,213$29,314,568
80$35,720,322$9,525,064$6,261,319$32,121,479
81$39,291,464$9,919,461$6,398,743$35,209,049
82$43,224,585$10,330,906$6,538,491$38,605,723
83$47,556,533$10,760,161$6,680,572$42,342,844
84$52,327,916$11,208,026$6,824,988$46,454,944
85$57,583,480$11,675,335$6,971,741$50,980,072
86$63,372,532$12,162,963$7,120,831$55,960,149
87$69,749,406$12,671,824$7,272,255$61,441,366
88$76,773,977$13,202,875$7,426,007$67,474,619
89$84,512,223$13,757,117$7,582,079$74,115,987
90$93,036,851$14,335,597$7,740,459$81,427,260
91$102,427,979$14,939,410$7,901,134$89,476,526
92$112,773,895$15,569,703$8,064,084$98,338,805
93$124,171,889$16,227,675$8,229,288$108,096,762
94$136,729,173$16,914,583$8,396,720$118,841,487
95$150,563,890$17,631,739$8,566,352$130,673,347
96$165,806,232$18,380,519$8,738,149$143,702,941
97$182,599,664$19,162,361$8,912,074$158,052,137
98$201,102,284$19,978,770$9,088,082$173,855,222
99$221,488,310$20,831,324$9,266,127$191,260,170
100$243,949,730$21,721,671$9,446,154$210,430,038