Can I retire at age 56 with 2,760,000?

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 $2,760,000?

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$227,918$225,888$223,907$221,974$220,086$214,244
2 years$112,831$110,729$108,693$106,718$104,803$98,958
3 years$74,473$72,363$70,331$68,375$66,491$60,826
4 years$55,298$53,194$51,183$49,261$47,422$41,981
5 years$43,796$41,705$39,720$37,837$36,050$30,847
6 years$36,131$34,055$32,100$30,258$28,525$23,565
7 years$30,658$28,600$26,675$24,877$23,198$18,483
8 years$26,555$24,515$22,623$20,869$19,245$14,771
9 years$23,365$21,345$19,485$17,776$16,207$11,971
10 years$20,815$18,814$16,987$15,323$13,809$9,805
11 years$18,730$16,749$14,955$13,335$11,877$8,098
12 years$16,993$15,033$13,273$11,697$10,292$6,733
13 years$15,525$13,586$11,858$10,327$8,975$5,627
14 years$14,268$12,349$10,655$9,167$7,867$4,724
15 years$13,179$11,281$9,620$8,175$6,927$3,980
16 years$12,228$10,350$8,722$7,320$6,122$3,362
17 years$11,389$9,532$7,936$6,577$5,428$2,848
18 years$10,644$8,808$7,245$5,927$4,827$2,417
19 years$9,979$8,163$6,632$5,356$4,302$2,055
20 years$9,380$7,586$6,087$4,851$3,843$1,749
21 years$8,840$7,066$5,599$4,402$3,439$1,491
22 years$8,349$6,596$5,160$4,003$3,082$1,272
23 years$7,901$6,169$4,764$3,645$2,767$1,087
24 years$7,492$5,780$4,406$3,325$2,487$929
25 years$7,116$5,424$4,081$3,036$2,238$794
26 years$6,769$5,098$3,785$2,776$2,016$679
27 years$6,449$4,798$3,515$2,541$1,817$582
28 years$6,151$4,521$3,267$2,328$1,640$498
29 years$5,875$4,265$3,041$2,135$1,481$427
30 years$5,618$4,028$2,832$1,959$1,338$366
31 years$5,378$3,807$2,640$1,800$1,210$313
32 years$5,153$3,603$2,464$1,654$1,094$269
33 years$4,943$3,412$2,300$1,521$990$230
34 years$4,745$3,234$2,149$1,399$897$198
35 years$4,559$3,067$2,009$1,288$812$169
36 years$4,384$2,911$1,880$1,186$736$145
37 years$4,218$2,765$1,759$1,093$667$125
38 years$4,062$2,628$1,648$1,008$605$107
39 years$3,914$2,499$1,544$929$548$92
40 years$3,773$2,377$1,447$857$497$79
41 years$3,640$2,263$1,357$791$451$68
42 years$3,514$2,155$1,273$730$409$58
43 years$3,394$2,053$1,194$673$372$50
44 years$3,279$1,957$1,121$622$337$43
45 years$3,170$1,866$1,052$574$306$37
46 years$3,066$1,780$989$530$278$31
47 years$2,967$1,699$929$490$252$27
48 years$2,872$1,622$873$453$229$23
49 years$2,782$1,549$820$419$208$20
50 years$2,695$1,480$771$387$189$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,760,000, adding $3,613 every year, while hoping to spend $22,442 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: 63/18/19 Blend
55$2,760,000$2,760,000$2,760,000$2,760,000
56$3,045,247$2,898,967$2,856,187$3,222,135
57$3,331,984$3,017,138$2,927,991$3,459,811
58$3,647,216$3,140,348$3,001,448$3,716,413
59$3,993,826$3,268,818$3,076,591$3,996,125
60$4,374,990$3,402,784$3,153,450$4,301,203
61$4,794,207$3,542,489$3,232,059$4,634,129
62$5,255,332$3,688,187$3,312,449$4,997,635
63$5,762,614$3,840,147$3,394,655$5,394,726
64$6,320,733$3,998,646$3,478,708$5,828,710
65$6,934,846$4,163,977$3,564,642$6,303,231
66$7,610,634$4,336,446$3,652,491$6,822,296
67$8,354,358$4,516,371$3,742,289$7,390,319
68$9,172,916$4,704,087$3,834,070$8,012,160
69$10,073,910$4,899,943$3,927,867$8,693,168
70$11,065,713$5,104,305$4,023,715$9,439,232
71$12,157,554$5,317,555$4,121,648$10,256,840
72$13,359,603$5,540,093$4,221,701$11,153,133
73$14,683,062$5,772,337$4,323,908$12,135,975
74$16,140,279$6,014,726$4,428,304$13,214,028
75$17,744,857$6,267,718$4,534,922$14,396,830
76$19,511,789$6,531,792$4,643,798$15,694,886
77$21,457,591$6,807,449$4,754,965$17,119,766
78$23,600,466$7,095,216$4,868,457$18,684,212
79$25,960,473$7,395,640$4,984,309$20,402,259
80$28,559,711$7,709,297$5,102,554$22,289,369
81$31,422,537$8,036,788$5,223,225$24,362,569
82$34,575,788$8,378,742$5,346,355$26,640,617
83$38,049,038$8,735,820$5,471,977$29,144,176
84$41,874,874$9,108,709$5,600,122$31,896,007
85$46,089,207$9,498,133$5,730,823$34,921,184
86$50,731,611$9,904,845$5,864,110$38,247,330
87$55,845,690$10,329,638$6,000,013$41,904,873
88$61,479,498$10,773,338$6,138,561$45,927,338
89$67,685,988$11,236,812$6,279,784$50,351,656
90$74,523,510$11,720,968$6,423,708$55,218,516
91$82,056,367$12,226,754$6,570,361$60,572,743
92$90,355,416$12,755,164$6,719,767$66,463,725
93$99,498,740$13,307,239$6,871,951$72,945,873
94$109,572,387$13,884,069$7,026,937$80,079,136
95$120,671,176$14,486,794$7,184,745$87,929,564
96$132,899,597$15,116,608$7,345,395$96,569,930
97$146,372,796$15,774,762$7,508,906$106,080,413
98$161,217,661$16,462,565$7,675,294$116,549,359
99$177,574,019$17,181,387$7,844,573$128,074,106
100$195,595,959$17,932,665$8,016,756$140,761,905