Can I retire at age 56 with 2,710,000?

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$223,789$221,796$219,851$217,953$216,099$210,704
2 years$110,787$108,723$106,724$104,785$102,904$97,503
3 years$73,124$71,052$69,057$67,137$65,287$60,048
4 years$54,297$52,231$50,256$48,368$46,563$41,527
5 years$43,003$40,950$39,001$37,151$35,397$30,578
6 years$35,476$33,438$31,518$29,710$28,008$23,411
7 years$30,102$28,081$26,192$24,426$22,778$18,403
8 years$26,074$24,071$22,213$20,491$18,897$14,742
9 years$22,942$20,958$19,132$17,454$15,914$11,976
10 years$20,438$18,474$16,680$15,045$13,559$9,834
11 years$18,391$16,446$14,684$13,094$11,661$8,143
12 years$16,686$14,761$13,032$11,485$10,106$6,788
13 years$15,244$13,340$11,643$10,140$8,812$5,689
14 years$14,010$12,125$10,462$9,001$7,725$4,788
15 years$12,941$11,077$9,445$8,027$6,801$4,045
16 years$12,006$10,163$8,564$7,187$6,011$3,428
17 years$11,183$9,359$7,793$6,458$5,330$2,911
18 years$10,451$8,649$7,114$5,820$4,739$2,478
19 years$9,798$8,015$6,512$5,259$4,224$2,113
20 years$9,210$7,448$5,977$4,763$3,773$1,805
21 years$8,680$6,938$5,497$4,322$3,376$1,543
22 years$8,198$6,476$5,067$3,930$3,026$1,321
23 years$7,758$6,057$4,678$3,579$2,717$1,131
24 years$7,356$5,675$4,326$3,264$2,442$970
25 years$6,987$5,326$4,007$2,981$2,197$832
26 years$6,646$5,005$3,716$2,726$1,979$714
27 years$6,332$4,711$3,451$2,495$1,784$613
28 years$6,040$4,439$3,208$2,286$1,610$527
29 years$5,769$4,187$2,985$2,096$1,454$453
30 years$5,516$3,955$2,781$1,924$1,314$389
31 years$5,281$3,738$2,593$1,767$1,188$335
32 years$5,060$3,537$2,419$1,624$1,074$288
33 years$4,853$3,350$2,259$1,493$972$248
34 years$4,659$3,175$2,110$1,374$880$213
35 years$4,476$3,011$1,973$1,265$797$184
36 years$4,304$2,858$1,846$1,165$722$158
37 years$4,142$2,715$1,727$1,073$655$136
38 years$3,988$2,580$1,618$989$594$117
39 years$3,843$2,453$1,516$912$538$101
40 years$3,705$2,334$1,421$841$488$87
41 years$3,574$2,222$1,332$776$443$75
42 years$3,450$2,116$1,250$716$402$64
43 years$3,332$2,016$1,172$661$365$55
44 years$3,220$1,922$1,101$611$331$48
45 years$3,113$1,833$1,033$564$301$41
46 years$3,011$1,748$971$521$273$35
47 years$2,913$1,668$912$481$248$30
48 years$2,820$1,593$857$445$225$26
49 years$2,731$1,521$805$411$204$23
50 years$2,646$1,453$757$380$186$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,710,000, adding $2,810 every year, while hoping to spend $49,978 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: 64/12/24 Blend
55$2,710,000$2,710,000$2,710,000$2,710,000
56$2,989,319$2,845,689$2,803,684$3,161,718
57$3,241,053$2,931,951$2,844,431$3,364,668
58$3,516,789$3,020,765$2,884,868$3,580,482
59$3,818,922$3,112,204$2,924,932$3,815,155
60$4,150,091$3,206,341$2,964,556$4,070,541
61$4,513,201$3,303,251$3,003,669$4,348,681
62$4,911,451$3,403,015$3,042,196$4,651,824
63$5,348,367$3,505,711$3,080,057$4,982,446
64$5,827,831$3,611,421$3,117,169$5,343,274
65$6,354,119$3,720,230$3,153,444$5,737,313
66$6,931,941$3,832,223$3,188,787$6,167,874
67$7,566,488$3,947,490$3,223,099$6,638,603
68$8,263,473$4,066,121$3,256,277$7,153,516
69$9,029,195$4,188,209$3,288,210$7,717,041
70$9,870,591$4,313,849$3,318,782$8,334,051
71$10,795,302$4,443,138$3,347,872$9,009,920
72$11,811,747$4,576,177$3,375,351$9,750,567
73$12,929,203$4,713,067$3,401,083$10,562,511
74$14,157,888$4,853,913$3,424,925$11,452,940
75$15,509,061$4,998,824$3,446,729$12,429,769
76$16,995,127$5,147,907$3,466,335$13,501,723
77$18,629,751$5,301,276$3,483,579$14,678,413
78$20,427,992$5,459,045$3,498,286$15,970,432
79$22,406,442$5,621,332$3,510,272$17,389,449
80$24,583,379$5,788,258$3,519,346$18,948,325
81$26,978,945$5,959,944$3,525,306$20,661,230
82$29,615,333$6,136,517$3,527,939$22,543,782
83$32,516,995$6,318,105$3,527,024$24,613,185
84$35,710,875$6,504,838$3,522,326$26,888,403
85$39,226,662$6,696,852$3,513,601$29,390,330
86$43,097,066$6,894,283$3,500,591$32,141,991
87$47,358,135$7,097,271$3,483,029$35,168,759
88$52,049,585$7,305,957$3,460,631$38,498,595
89$57,215,182$7,520,489$3,433,101$42,162,311
90$62,903,151$7,741,013$3,400,130$46,193,861
91$69,166,631$7,967,682$3,361,394$50,630,662
92$76,064,178$8,200,649$3,316,551$55,513,948
93$83,660,315$8,440,072$3,265,247$60,889,158
94$92,026,143$8,686,110$3,207,108$66,806,365
95$101,240,008$8,938,928$3,141,744$73,320,749
96$111,388,243$9,198,691$3,068,748$80,493,121
97$122,565,984$9,465,567$2,987,691$88,390,492
98$134,878,064$9,739,728$2,898,127$97,086,709
99$148,440,001$10,021,350$2,799,589$106,663,155
100$163,379,093$10,310,608$2,691,588$117,209,509