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%16.6%
1 years$289,027$286,452$283,940$281,489$279,095$271,577
2 years$143,083$140,418$137,835$135,331$132,902$125,382
3 years$94,441$91,765$89,188$86,708$84,319$77,031
4 years$70,125$67,457$64,906$62,468$60,137$53,138
5 years$55,539$52,887$50,370$47,982$45,715$39,024
6 years$45,818$43,186$40,706$38,371$36,173$29,796
7 years$38,878$36,268$33,827$31,547$29,418$23,357
8 years$33,674$31,088$28,688$26,464$24,405$18,655
9 years$29,630$27,068$24,709$22,542$20,553$15,109
10 years$26,396$23,859$21,542$19,431$17,512$12,368
11 years$23,752$21,240$18,965$16,911$15,061$10,209
12 years$21,550$19,064$16,831$14,833$13,051$8,482
13 years$19,688$17,228$15,038$13,095$11,381$7,084
14 years$18,094$15,660$13,511$11,625$9,977$5,943
15 years$16,713$14,306$12,199$10,367$8,784$5,003
16 years$15,506$13,125$11,060$9,283$7,763$4,224
17 years$14,443$12,088$10,064$8,340$6,884$3,575
18 years$13,498$11,170$9,187$7,516$6,121$3,032
19 years$12,654$10,352$8,411$6,792$5,455$2,575
20 years$11,895$9,620$7,719$6,151$4,873$2,191
21 years$11,210$8,960$7,100$5,583$4,361$1,866
22 years$10,587$8,364$6,544$5,076$3,909$1,591
23 years$10,020$7,823$6,042$4,623$3,509$1,358
24 years$9,501$7,329$5,588$4,216$3,154$1,159
25 years$9,024$6,878$5,175$3,850$2,838$991
26 years$8,584$6,464$4,800$3,521$2,556$847
27 years$8,177$6,084$4,457$3,223$2,305$725
28 years$7,801$5,733$4,143$2,953$2,080$620
29 years$7,451$5,408$3,856$2,708$1,878$531
30 years$7,124$5,107$3,592$2,485$1,697$454
31 years$6,820$4,828$3,348$2,282$1,534$389
32 years$6,535$4,569$3,124$2,097$1,388$333
33 years$6,268$4,326$2,917$1,929$1,256$286
34 years$6,017$4,100$2,725$1,775$1,137$245
35 years$5,781$3,889$2,548$1,634$1,030$210
36 years$5,559$3,691$2,384$1,504$933$180
37 years$5,349$3,506$2,231$1,386$846$154
38 years$5,151$3,332$2,089$1,278$767$132
39 years$4,963$3,168$1,957$1,178$695$113
40 years$4,785$3,014$1,835$1,087$631$97
41 years$4,616$2,869$1,720$1,003$572$83
42 years$4,456$2,733$1,614$925$519$71
43 years$4,304$2,604$1,514$854$471$61
44 years$4,158$2,482$1,421$789$428$52
45 years$4,020$2,367$1,335$728$388$45
46 years$3,888$2,258$1,254$673$352$39
47 years$3,763$2,155$1,178$622$320$33
48 years$3,642$2,057$1,107$574$291$28
49 years$3,527$1,964$1,040$531$264$24
50 years$3,417$1,876$978$491$240$21

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 $4,369 every year, while hoping to spend $45,855 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: 65/19/16 Blend
55$3,500,000$3,500,000$3,500,000$3,500,000
56$3,861,507$3,676,007$3,621,757$4,097,191
57$4,206,591$3,807,342$3,694,296$4,386,862
58$4,585,337$3,943,575$3,767,729$4,697,577
59$5,001,130$4,084,899$3,842,036$5,035,993
60$5,457,698$4,231,512$3,917,198$5,404,816
61$5,959,150$4,383,623$3,993,190$5,807,025
62$6,510,010$4,541,447$4,069,989$6,245,903
63$7,115,263$4,705,210$4,147,566$6,725,058
64$7,780,401$4,875,146$4,225,890$7,248,468
65$8,511,473$5,051,500$4,304,929$7,820,509
66$9,315,145$5,234,525$4,384,645$8,445,999
67$10,198,760$5,424,486$4,465,001$9,130,246
68$11,170,408$5,621,661$4,545,953$9,879,092
69$12,239,002$5,826,335$4,627,455$10,698,972
70$13,414,363$6,038,808$4,709,457$11,596,971
71$14,707,311$6,259,392$4,791,907$12,580,894
72$16,129,767$6,488,413$4,874,746$13,659,336
73$17,694,866$6,726,208$4,957,913$14,841,762
74$19,417,081$6,973,131$5,041,342$16,138,599
75$21,312,358$7,229,549$5,124,962$17,561,331
76$23,398,268$7,495,846$5,208,697$19,122,608
77$25,694,170$7,772,421$5,292,467$20,836,363
78$28,221,396$8,059,691$5,376,186$22,717,946
79$31,003,452$8,358,088$5,459,761$24,784,265
80$34,066,236$8,668,067$5,543,095$27,053,946
81$37,438,288$8,990,099$5,626,085$29,547,508
82$41,151,055$9,324,675$5,708,620$32,287,557
83$45,239,186$9,672,308$5,790,583$35,298,996
84$49,740,865$10,033,532$5,871,849$38,609,261
85$54,698,164$10,408,906$5,952,287$42,248,579
86$60,157,446$10,799,011$6,031,757$46,250,251
87$66,169,796$11,204,454$6,110,112$50,650,969
88$72,791,509$11,625,866$6,187,195$55,491,156
89$80,084,617$12,063,908$6,262,840$60,815,350
90$88,117,476$12,519,267$6,336,873$66,672,622
91$96,965,410$12,992,663$6,409,110$73,117,041
92$106,711,422$13,484,843$6,479,355$80,208,178
93$117,446,976$13,996,590$6,547,402$88,011,673
94$129,272,863$14,528,718$6,613,036$96,599,848
95$142,300,149$15,082,079$6,676,026$106,052,391
96$156,651,223$15,657,560$6,736,133$116,457,108
97$172,460,956$16,256,089$6,793,101$127,910,750
98$189,877,968$16,878,631$6,846,664$140,519,922
99$209,066,034$17,526,197$6,896,540$154,402,091
100$230,205,628$18,199,840$6,942,434$169,686,693