Can I retire at age 56 with 2,770,000?

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 $2,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$228,744$226,706$224,719$222,778$220,884$217,046
2 years$113,240$111,131$109,087$107,105$105,183$101,329
3 years$74,743$72,625$70,586$68,623$66,732$62,982
4 years$55,499$53,387$51,369$49,439$47,594$43,976
5 years$43,955$41,856$39,864$37,974$36,180$32,706
6 years$36,262$34,179$32,216$30,368$28,628$25,300
7 years$30,769$28,703$26,772$24,967$23,282$20,103
8 years$26,651$24,604$22,705$20,944$19,315$16,282
9 years$23,450$21,422$19,556$17,840$16,266$13,379
10 years$20,890$18,883$17,049$15,378$13,859$11,115
11 years$18,798$16,810$15,010$13,384$11,920$9,316
12 years$17,055$15,088$13,321$11,739$10,329$7,862
13 years$15,582$13,635$11,901$10,364$9,007$6,673
14 years$14,320$12,394$10,693$9,200$7,896$5,690
15 years$13,227$11,322$9,655$8,205$6,952$4,870
16 years$12,272$10,388$8,753$7,347$6,144$4,183
17 years$11,430$9,567$7,965$6,601$5,448$3,602
18 years$10,683$8,840$7,271$5,949$4,844$3,109
19 years$10,015$8,193$6,656$5,375$4,318$2,688
20 years$9,414$7,613$6,109$4,868$3,857$2,329
21 years$8,872$7,091$5,619$4,418$3,451$2,020
22 years$8,379$6,620$5,179$4,017$3,093$1,755
23 years$7,930$6,191$4,782$3,659$2,777$1,526
24 years$7,519$5,801$4,422$3,337$2,496$1,328
25 years$7,141$5,444$4,096$3,047$2,246$1,157
26 years$6,794$5,116$3,799$2,786$2,023$1,008
27 years$6,472$4,815$3,527$2,550$1,824$879
28 years$6,174$4,537$3,279$2,337$1,646$767
29 years$5,897$4,280$3,052$2,143$1,486$670
30 years$5,639$4,042$2,842$1,967$1,343$585
31 years$5,398$3,821$2,650$1,806$1,214$511
32 years$5,172$3,616$2,472$1,660$1,098$446
33 years$4,961$3,424$2,309$1,526$994$390
34 years$4,762$3,245$2,157$1,404$900$341
35 years$4,575$3,078$2,017$1,293$815$298
36 years$4,399$2,922$1,886$1,191$738$261
37 years$4,233$2,775$1,766$1,097$669$228
38 years$4,076$2,637$1,654$1,011$607$200
39 years$3,928$2,508$1,549$932$550$175
40 years$3,787$2,386$1,452$860$499$153
41 years$3,653$2,271$1,362$793$453$134
42 years$3,527$2,163$1,277$732$411$117
43 years$3,406$2,061$1,198$676$373$102
44 years$3,291$1,964$1,125$624$338$90
45 years$3,182$1,873$1,056$576$307$79
46 years$3,077$1,787$992$532$279$69
47 years$2,978$1,705$932$492$253$60
48 years$2,883$1,628$876$455$230$53
49 years$2,792$1,555$823$420$209$46
50 years$2,704$1,485$774$388$190$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,770,000, adding $6,107 every year, while hoping to spend $58,427 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: 68/19/13 Blend
55$2,770,000$2,770,000$2,770,000$2,770,000
56$3,058,839$2,912,029$2,869,094$3,257,523
57$3,308,675$2,992,553$2,903,043$3,471,034
58$3,582,036$3,075,064$2,936,171$3,696,939
59$3,881,260$3,159,598$2,968,389$3,942,510
60$4,208,920$3,246,191$2,999,602$4,209,671
61$4,567,854$3,334,877$3,029,712$4,500,541
62$4,961,181$3,425,693$3,058,614$4,817,453
63$5,392,341$3,518,672$3,086,197$5,162,974
64$5,865,121$3,613,847$3,112,346$5,539,935
65$6,383,691$3,711,254$3,136,937$5,951,451
66$6,952,646$3,810,924$3,159,843$6,400,954
67$7,577,046$3,912,888$3,180,927$6,892,224
68$8,262,464$4,017,179$3,200,048$7,429,426
69$9,015,040$4,123,826$3,217,054$8,017,146
70$9,841,538$4,232,857$3,231,789$8,660,437
71$10,749,408$4,344,300$3,244,087$9,364,866
72$11,746,858$4,458,181$3,253,775$10,136,565
73$12,842,929$4,574,524$3,260,668$10,982,290
74$14,047,583$4,693,352$3,264,576$11,909,486
75$15,371,795$4,814,684$3,265,297$12,926,352
76$16,827,653$4,938,539$3,262,620$14,041,924
77$18,428,480$5,064,933$3,256,324$15,266,158
78$20,188,949$5,193,879$3,246,175$16,610,022
79$22,125,230$5,325,387$3,231,930$18,085,603
80$24,255,138$5,459,466$3,213,334$19,706,217
81$26,598,300$5,596,117$3,190,119$21,486,538
82$29,176,343$5,735,343$3,162,004$23,442,733
83$32,013,093$5,877,139$3,128,695$25,592,620
84$35,134,807$6,021,496$3,089,884$27,955,829
85$38,570,411$6,168,403$3,045,249$30,553,992
86$42,351,780$6,317,842$2,994,452$33,410,946
87$46,514,035$6,469,790$2,937,139$36,552,958
88$51,095,875$6,624,218$2,872,942$40,008,971
89$56,139,941$6,781,092$2,801,472$43,810,882
90$61,693,219$6,940,369$2,722,325$47,993,836
91$67,807,481$7,102,001$2,635,077$52,596,565
92$74,539,778$7,265,933$2,539,286$57,661,749
93$81,952,970$7,432,099$2,434,487$63,236,419
94$90,116,328$7,600,426$2,320,197$69,372,402
95$99,106,179$7,770,832$2,195,909$76,126,814
96$109,006,631$7,943,225$2,061,094$83,562,592
97$119,910,365$8,117,501$1,915,198$91,749,092
98$131,919,510$8,293,546$1,757,645$100,762,746
99$145,146,603$8,471,233$1,587,829$110,687,780
100$159,715,656$8,650,423$1,405,121$121,617,010