Can I retire at age 56 with 2,730,000?

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 $2,730,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$225,441$223,433$221,474$219,561$217,694$214,618
2 years$111,604$109,526$107,511$105,558$103,664$100,571
3 years$73,664$71,576$69,567$67,632$65,769$62,755
4 years$54,697$52,616$50,627$48,725$46,907$43,995
5 years$43,320$41,252$39,289$37,426$35,658$32,857
6 years$35,738$33,685$31,751$29,930$28,215$25,528
7 years$30,324$28,289$26,385$24,607$22,946$20,374
8 years$26,266$24,249$22,377$20,642$19,036$16,579
9 years$23,111$21,113$19,273$17,582$16,031$13,687
10 years$20,589$18,610$16,803$15,156$13,659$11,427
11 years$18,526$16,567$14,793$13,190$11,747$9,625
12 years$16,809$14,870$13,128$11,570$10,180$8,165
13 years$15,357$13,438$11,729$10,214$8,877$6,966
14 years$14,113$12,215$10,539$9,067$7,782$5,972
15 years$13,036$11,158$9,515$8,086$6,852$5,140
16 years$12,095$10,238$8,627$7,240$6,056$4,439
17 years$11,265$9,429$7,850$6,505$5,369$3,845
18 years$10,529$8,712$7,166$5,863$4,774$3,337
19 years$9,870$8,075$6,560$5,297$4,255$2,903
20 years$9,278$7,503$6,021$4,798$3,801$2,530
21 years$8,744$6,989$5,538$4,354$3,401$2,208
22 years$8,258$6,524$5,104$3,959$3,049$1,930
23 years$7,816$6,102$4,713$3,606$2,737$1,688
24 years$7,410$5,717$4,358$3,289$2,460$1,479
25 years$7,038$5,365$4,037$3,003$2,214$1,296
26 years$6,695$5,042$3,744$2,746$1,994$1,137
27 years$6,378$4,745$3,477$2,514$1,798$998
28 years$6,085$4,472$3,232$2,303$1,622$876
29 years$5,811$4,218$3,008$2,112$1,465$770
30 years$5,557$3,984$2,801$1,938$1,323$677
31 years$5,320$3,766$2,612$1,780$1,196$595
32 years$5,097$3,563$2,437$1,636$1,082$524
33 years$4,889$3,375$2,275$1,504$979$461
34 years$4,693$3,198$2,126$1,384$887$406
35 years$4,509$3,034$1,987$1,274$803$357
36 years$4,336$2,879$1,859$1,173$728$314
37 years$4,172$2,735$1,740$1,081$660$277
38 years$4,017$2,599$1,630$997$598$244
39 years$3,871$2,471$1,527$919$542$215
40 years$3,732$2,351$1,431$848$492$189
41 years$3,601$2,238$1,342$782$446$167
42 years$3,476$2,132$1,259$722$405$147
43 years$3,357$2,031$1,181$666$367$130
44 years$3,244$1,936$1,109$615$334$114
45 years$3,136$1,846$1,041$568$303$101
46 years$3,033$1,761$978$525$275$89
47 years$2,935$1,681$919$485$250$78
48 years$2,841$1,604$863$448$227$69
49 years$2,751$1,532$811$414$206$61
50 years$2,665$1,464$763$383$187$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,730,000, adding $2,756 every year, while hoping to spend $38,883 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: 56/22/22 Blend
55$2,730,000$2,730,000$2,730,000$2,730,000
56$3,011,303$2,866,613$2,824,298$3,161,839
57$3,277,084$2,965,706$2,877,541$3,364,160
58$3,568,673$3,068,351$2,931,264$3,580,107
59$3,888,659$3,174,681$2,985,442$3,814,535
60$4,239,897$3,284,835$3,040,050$4,069,233
61$4,625,531$3,398,957$3,095,056$4,346,167
62$5,049,024$3,517,195$3,150,429$4,647,501
63$5,514,192$3,639,705$3,206,136$4,975,619
64$6,025,237$3,766,648$3,262,139$5,333,143
65$6,586,790$3,898,192$3,318,399$5,722,960
66$7,203,950$4,034,512$3,374,874$6,148,248
67$7,882,339$4,175,789$3,431,518$6,612,508
68$8,628,146$4,322,211$3,488,282$7,119,592
69$9,448,192$4,473,975$3,545,115$7,673,743
70$10,349,993$4,631,284$3,601,961$8,279,633
71$11,341,826$4,794,351$3,658,761$8,942,408
72$12,432,815$4,963,397$3,715,452$9,667,732
73$13,633,009$5,138,651$3,771,967$10,461,848
74$14,953,483$5,320,352$3,828,235$11,331,626
75$16,406,438$5,508,748$3,884,180$12,284,638
76$18,005,316$5,704,098$3,939,722$13,329,220
77$19,764,930$5,906,671$3,994,774$14,474,558
78$21,701,602$6,116,747$4,049,248$15,730,766
79$23,833,315$6,334,617$4,103,048$17,108,989
80$26,179,884$6,560,585$4,156,071$18,621,503
81$28,763,144$6,794,965$4,208,211$20,281,830
82$31,607,154$7,038,087$4,259,355$22,104,867
83$34,738,422$7,290,292$4,309,382$24,107,027
84$38,186,161$7,551,936$4,358,166$26,306,390
85$41,982,558$7,823,390$4,405,574$28,722,875
86$46,163,083$8,105,040$4,451,464$31,378,427
87$50,766,817$8,397,287$4,495,688$34,297,225
88$55,836,828$8,700,549$4,538,089$37,505,906
89$61,420,572$9,015,264$4,578,503$41,033,821
90$67,570,342$9,341,883$4,616,754$44,913,306
91$74,343,762$9,680,880$4,652,660$49,179,990
92$81,804,330$10,032,747$4,686,028$53,873,128
93$90,022,017$10,397,998$4,716,656$59,035,974
94$99,073,928$10,777,165$4,744,329$64,716,185
95$109,045,029$11,170,806$4,768,824$70,966,273
96$120,028,946$11,579,500$4,789,905$77,844,099
97$132,128,856$12,003,852$4,807,323$85,413,416
98$145,458,450$12,444,492$4,820,819$93,744,474
99$160,143,015$12,902,075$4,830,120$102,914,678
100$176,320,611$13,377,286$4,834,938$113,009,322