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

Use the below retirement simulation to view the chances of a successful retirement.
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%16.5%
1 years$289,027$286,452$283,940$281,489$279,095$271,687
2 years$143,083$140,418$137,835$135,331$132,902$125,490
3 years$94,441$91,765$89,188$86,708$84,319$77,135
4 years$70,125$67,457$64,906$62,468$60,137$53,236
5 years$55,539$52,887$50,370$47,982$45,715$39,117
6 years$45,818$43,186$40,706$38,371$36,173$29,884
7 years$38,878$36,268$33,827$31,547$29,418$23,438
8 years$33,674$31,088$28,688$26,464$24,405$18,732
9 years$29,630$27,068$24,709$22,542$20,553$15,180
10 years$26,396$23,859$21,542$19,431$17,512$12,434
11 years$23,752$21,240$18,965$16,911$15,061$10,269
12 years$21,550$19,064$16,831$14,833$13,051$8,538
13 years$19,688$17,228$15,038$13,095$11,381$7,136
14 years$18,094$15,660$13,511$11,625$9,977$5,990
15 years$16,713$14,306$12,199$10,367$8,784$5,047
16 years$15,506$13,125$11,060$9,283$7,763$4,264
17 years$14,443$12,088$10,064$8,340$6,884$3,611
18 years$13,498$11,170$9,187$7,516$6,121$3,065
19 years$12,654$10,352$8,411$6,792$5,455$2,606
20 years$11,895$9,620$7,719$6,151$4,873$2,218
21 years$11,210$8,960$7,100$5,583$4,361$1,891
22 years$10,587$8,364$6,544$5,076$3,909$1,613
23 years$10,020$7,823$6,042$4,623$3,509$1,378
24 years$9,501$7,329$5,588$4,216$3,154$1,178
25 years$9,024$6,878$5,175$3,850$2,838$1,007
26 years$8,584$6,464$4,800$3,521$2,556$862
27 years$8,177$6,084$4,457$3,223$2,305$738
28 years$7,801$5,733$4,143$2,953$2,080$632
29 years$7,451$5,408$3,856$2,708$1,878$541
30 years$7,124$5,107$3,592$2,485$1,697$464
31 years$6,820$4,828$3,348$2,282$1,534$397
32 years$6,535$4,569$3,124$2,097$1,388$341
33 years$6,268$4,326$2,917$1,929$1,256$292
34 years$6,017$4,100$2,725$1,775$1,137$251
35 years$5,781$3,889$2,548$1,634$1,030$215
36 years$5,559$3,691$2,384$1,504$933$184
37 years$5,349$3,506$2,231$1,386$846$158
38 years$5,151$3,332$2,089$1,278$767$136
39 years$4,963$3,168$1,957$1,178$695$116
40 years$4,785$3,014$1,835$1,087$631$100
41 years$4,616$2,869$1,720$1,003$572$86
42 years$4,456$2,733$1,614$925$519$74
43 years$4,304$2,604$1,514$854$471$63
44 years$4,158$2,482$1,421$789$428$54
45 years$4,020$2,367$1,335$728$388$46
46 years$3,888$2,258$1,254$673$352$40
47 years$3,763$2,155$1,178$622$320$34
48 years$3,642$2,057$1,107$574$291$29
49 years$3,527$1,964$1,040$531$264$25
50 years$3,417$1,876$978$491$240$22

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 $6,780 every year, while hoping to spend $53,749 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: 60/16/24 Blend
55$3,500,000$3,500,000$3,500,000$3,500,000
56$3,863,994$3,678,494$3,624,244$4,070,689
57$4,200,932$3,801,551$3,688,467$4,335,004
58$4,570,438$3,928,837$3,753,041$4,616,841
59$4,975,774$4,060,502$3,817,920$4,923,183
60$5,420,538$4,196,702$3,883,055$5,256,425
61$5,908,691$4,337,598$3,948,395$5,619,199
62$6,444,596$4,483,359$4,013,885$6,014,406
63$7,033,060$4,634,159$4,079,466$6,445,237
64$7,679,377$4,790,178$4,145,073$6,915,209
65$8,389,381$4,951,604$4,210,640$7,428,192
66$9,169,496$5,118,631$4,276,094$7,988,452
67$10,026,801$5,291,460$4,341,360$8,600,682
68$10,969,095$5,470,302$4,406,356$9,270,054
69$12,004,970$5,655,373$4,470,996$10,002,265
70$13,143,889$5,846,899$4,535,187$10,803,588
71$14,396,283$6,045,114$4,598,832$11,680,933
72$15,773,639$6,250,261$4,661,829$12,641,913
73$17,288,618$6,462,591$4,724,068$13,694,914
74$18,955,166$6,682,366$4,785,433$14,849,171
75$20,788,649$6,909,859$4,845,801$16,114,861
76$22,805,999$7,145,350$4,905,043$17,503,195
77$25,025,872$7,389,133$4,963,023$19,026,523
78$27,468,822$7,641,511$5,019,596$20,698,452
79$30,157,498$7,902,801$5,074,608$22,533,970
80$33,116,854$8,173,330$5,127,899$24,549,596
81$36,374,389$8,453,439$5,179,299$26,763,524
82$39,960,400$8,743,481$5,228,629$29,195,803
83$43,908,273$9,043,824$5,275,700$31,868,523
84$48,254,794$9,354,848$5,320,313$34,806,022
85$53,040,498$9,676,951$5,362,259$38,035,116
86$58,310,051$10,010,544$5,401,317$41,585,353
87$64,112,670$10,356,054$5,437,255$45,489,291
88$70,502,589$10,713,927$5,469,829$49,782,803
89$77,539,567$11,084,625$5,498,783$54,505,416
90$85,289,458$11,468,626$5,523,847$59,700,686
91$93,824,825$11,866,430$5,544,738$65,416,606
92$103,225,627$12,278,556$5,561,158$71,706,059
93$113,579,978$12,705,542$5,572,793$78,627,319
94$124,984,971$13,147,949$5,579,317$86,244,595
95$137,547,598$13,606,358$5,580,384$94,628,646
96$151,385,759$14,081,376$5,575,632$103,857,437
97$166,629,374$14,573,630$5,564,684$114,016,885
98$183,421,609$15,083,777$5,547,139$125,201,663
99$201,920,227$15,612,496$5,522,583$137,516,093
100$222,299,077$16,160,496$5,490,576$151,075,137