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%12.6%
1 years$289,027$286,452$283,940$281,489$279,095$276,065
2 years$143,083$140,418$137,835$135,331$132,902$129,852
3 years$94,441$91,765$89,188$86,708$84,319$81,342
4 years$70,125$67,457$64,906$62,468$60,137$57,257
5 years$55,539$52,887$50,370$47,982$45,715$42,941
6 years$45,818$43,186$40,706$38,371$36,173$33,507
7 years$38,878$36,268$33,827$31,547$29,418$26,862
8 years$33,674$31,088$28,688$26,464$24,405$21,959
9 years$29,630$27,068$24,709$22,542$20,553$18,215
10 years$26,396$23,859$21,542$19,431$17,512$15,281
11 years$23,752$21,240$18,965$16,911$15,061$12,935
12 years$21,550$19,064$16,831$14,833$13,051$11,029
13 years$19,688$17,228$15,038$13,095$11,381$9,459
14 years$18,094$15,660$13,511$11,625$9,977$8,153
15 years$16,713$14,306$12,199$10,367$8,784$7,055
16 years$15,506$13,125$11,060$9,283$7,763$6,127
17 years$14,443$12,088$10,064$8,340$6,884$5,336
18 years$13,498$11,170$9,187$7,516$6,121$4,659
19 years$12,654$10,352$8,411$6,792$5,455$4,076
20 years$11,895$9,620$7,719$6,151$4,873$3,573
21 years$11,210$8,960$7,100$5,583$4,361$3,137
22 years$10,587$8,364$6,544$5,076$3,909$2,759
23 years$10,020$7,823$6,042$4,623$3,509$2,428
24 years$9,501$7,329$5,588$4,216$3,154$2,140
25 years$9,024$6,878$5,175$3,850$2,838$1,887
26 years$8,584$6,464$4,800$3,521$2,556$1,666
27 years$8,177$6,084$4,457$3,223$2,305$1,472
28 years$7,801$5,733$4,143$2,953$2,080$1,301
29 years$7,451$5,408$3,856$2,708$1,878$1,151
30 years$7,124$5,107$3,592$2,485$1,697$1,018
31 years$6,820$4,828$3,348$2,282$1,534$901
32 years$6,535$4,569$3,124$2,097$1,388$798
33 years$6,268$4,326$2,917$1,929$1,256$707
34 years$6,017$4,100$2,725$1,775$1,137$626
35 years$5,781$3,889$2,548$1,634$1,030$555
36 years$5,559$3,691$2,384$1,504$933$492
37 years$5,349$3,506$2,231$1,386$846$436
38 years$5,151$3,332$2,089$1,278$767$387
39 years$4,963$3,168$1,957$1,178$695$343
40 years$4,785$3,014$1,835$1,087$631$305
41 years$4,616$2,869$1,720$1,003$572$270
42 years$4,456$2,733$1,614$925$519$240
43 years$4,304$2,604$1,514$854$471$213
44 years$4,158$2,482$1,421$789$428$189
45 years$4,020$2,367$1,335$728$388$168
46 years$3,888$2,258$1,254$673$352$149
47 years$3,763$2,155$1,178$622$320$132
48 years$3,642$2,057$1,107$574$291$117
49 years$3,527$1,964$1,040$531$264$104
50 years$3,417$1,876$978$491$240$92

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 $6,967 every year, while hoping to spend $24,505 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: 44/40/16 Blend
55$3,500,000$3,500,000$3,500,000$3,500,000
56$3,864,186$3,678,686$3,624,436$4,016,078
57$4,232,260$3,832,869$3,719,782$4,277,334
58$4,637,056$3,993,785$3,817,500$4,557,348
59$5,082,295$4,161,739$3,917,645$4,860,328
60$5,572,073$4,337,049$4,020,270$5,188,403
61$6,110,908$4,520,047$4,125,433$5,543,912
62$6,703,774$4,711,083$4,233,188$5,929,423
63$7,356,153$4,910,520$4,343,594$6,347,756
64$8,074,086$5,118,741$4,456,710$6,802,010
65$8,864,227$5,336,144$4,572,594$7,295,590
66$9,733,910$5,563,147$4,691,308$7,832,237
67$10,691,215$5,800,187$4,812,913$8,416,061
68$11,745,045$6,047,723$4,937,472$9,051,584
69$12,905,211$6,306,232$5,065,048$9,743,772
70$14,182,522$6,576,217$5,195,707$10,498,089
71$15,588,890$6,858,202$5,329,513$11,320,542
72$17,137,439$7,152,736$5,466,534$12,217,735
73$18,842,632$7,460,395$5,606,838$13,196,935
74$20,720,406$7,781,780$5,750,493$14,266,132
75$22,788,322$8,117,521$5,897,568$15,434,118
76$25,065,730$8,468,279$6,048,136$16,710,563
77$27,573,952$8,834,743$6,202,267$18,106,109
78$30,336,487$9,217,636$6,360,034$19,632,464
79$33,379,224$9,617,716$6,521,511$21,302,512
80$36,730,696$10,035,775$6,686,772$23,130,432
81$40,422,342$10,472,643$6,855,894$25,131,830
82$44,488,807$10,929,189$7,028,952$27,323,882
83$48,968,268$11,406,321$7,206,025$29,725,493
84$53,902,794$11,904,994$7,387,190$32,357,475
85$59,338,745$12,426,205$7,572,526$35,242,738
86$65,327,205$12,970,997$7,762,114$38,406,505
87$71,924,470$13,540,466$7,956,035$41,876,543
88$79,192,573$14,135,755$8,154,369$45,683,427
89$87,199,874$14,758,066$8,357,199$49,860,819
90$96,021,704$15,408,655$8,564,609$54,445,787
91$105,741,076$16,088,837$8,776,681$59,479,148
92$116,449,466$16,799,990$8,993,500$65,005,850
93$128,247,680$17,543,558$9,215,150$71,075,391
94$141,246,803$18,321,052$9,441,718$77,742,282
95$155,569,249$19,134,056$9,673,288$85,066,560
96$171,349,917$19,984,229$9,909,947$93,114,343
97$188,737,459$20,873,307$10,151,781$101,958,453
98$207,895,691$21,803,110$10,398,876$111,679,100
99$229,005,133$22,775,544$10,651,321$122,364,628
100$252,264,717$23,792,606$10,909,200$134,112,349