Can I retire at age 56 with 2,790,000?

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 $2,790,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$230,396$228,343$226,341$224,387$222,479$219,063
2 years$114,057$111,933$109,874$107,878$105,942$102,510
3 years$75,283$73,149$71,096$69,119$67,214$63,871
4 years$55,899$53,773$51,740$49,796$47,938$44,710
5 years$44,272$42,158$40,152$38,248$36,441$33,338
6 years$36,524$34,425$32,449$30,587$28,835$25,860
7 years$30,991$28,910$26,965$25,148$23,450$20,605
8 years$26,843$24,782$22,869$21,096$19,454$16,737
9 years$23,619$21,577$19,697$17,969$16,383$13,794
10 years$21,041$19,019$17,172$15,489$13,960$11,495
11 years$18,933$16,931$15,118$13,480$12,006$9,664
12 years$17,178$15,197$13,417$11,824$10,404$8,182
13 years$15,694$13,733$11,987$10,439$9,072$6,967
14 years$14,423$12,483$10,770$9,266$7,953$5,961
15 years$13,323$11,404$9,724$8,264$7,002$5,120
16 years$12,361$10,463$8,816$7,400$6,189$4,413
17 years$11,513$9,636$8,023$6,648$5,487$3,813
18 years$10,760$8,904$7,324$5,992$4,879$3,303
19 years$10,087$8,252$6,704$5,414$4,349$2,867
20 years$9,482$7,668$6,153$4,903$3,884$2,493
21 years$8,936$7,143$5,660$4,450$3,476$2,171
22 years$8,440$6,667$5,216$4,046$3,116$1,893
23 years$7,987$6,236$4,816$3,685$2,797$1,652
24 years$7,573$5,843$4,454$3,361$2,514$1,444
25 years$7,193$5,483$4,125$3,069$2,262$1,262
26 years$6,843$5,153$3,826$2,806$2,038$1,105
27 years$6,519$4,850$3,553$2,569$1,837$967
28 years$6,218$4,570$3,303$2,354$1,658$847
29 years$5,939$4,311$3,074$2,158$1,497$743
30 years$5,679$4,071$2,863$1,981$1,353$651
31 years$5,436$3,849$2,669$1,819$1,223$571
32 years$5,209$3,642$2,490$1,672$1,106$501
33 years$4,996$3,449$2,325$1,537$1,001$440
34 years$4,797$3,269$2,173$1,415$906$386
35 years$4,608$3,100$2,031$1,302$821$339
36 years$4,431$2,943$1,900$1,199$744$298
37 years$4,264$2,795$1,778$1,105$674$262
38 years$4,106$2,656$1,665$1,018$611$230
39 years$3,956$2,526$1,560$939$554$202
40 years$3,814$2,403$1,463$866$503$178
41 years$3,680$2,287$1,371$799$456$156
42 years$3,552$2,178$1,286$738$414$137
43 years$3,431$2,076$1,207$681$376$121
44 years$3,315$1,978$1,133$629$341$106
45 years$3,205$1,887$1,064$581$309$93
46 years$3,100$1,800$999$536$281$82
47 years$2,999$1,718$939$495$255$72
48 years$2,903$1,640$882$458$232$63
49 years$2,812$1,566$829$423$210$56
50 years$2,724$1,496$780$391$191$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,790,000, adding $2,051 every year, while hoping to spend $36,632 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: 40/40/20 Blend
55$2,790,000$2,790,000$2,790,000$2,790,000
56$3,076,696$2,928,826$2,885,581$3,181,450
57$3,351,542$3,033,362$2,943,271$3,361,148
58$3,653,196$3,141,793$3,001,667$3,551,767
59$3,984,351$3,254,270$3,060,753$3,757,234
60$4,347,979$3,370,953$3,120,511$3,978,921
61$4,747,348$3,492,005$3,180,924$4,218,334
62$5,186,064$3,617,600$3,241,971$4,477,131
63$5,668,095$3,747,914$3,303,629$4,757,131
64$6,197,814$3,883,136$3,365,874$5,060,336
65$6,780,039$4,023,457$3,428,679$5,388,943
66$7,420,077$4,169,081$3,492,014$5,745,373
67$8,123,776$4,320,217$3,555,848$6,132,284
68$8,897,579$4,477,085$3,620,147$6,552,601
69$9,748,582$4,639,913$3,684,872$7,009,540
70$10,684,607$4,808,938$3,749,984$7,506,641
71$11,714,268$4,984,407$3,815,440$8,047,796
72$12,847,060$5,166,580$3,881,194$8,637,288
73$14,093,441$5,355,723$3,947,195$9,279,831
74$15,464,937$5,552,118$4,013,391$9,980,612
75$16,974,245$5,756,057$4,079,724$10,745,338
76$18,635,357$5,967,843$4,146,134$11,580,293
77$20,463,690$6,187,793$4,212,555$12,492,390
78$22,476,229$6,416,237$4,278,918$13,489,243
79$24,691,692$6,653,521$4,345,150$14,579,232
80$27,130,703$6,900,002$4,411,171$15,771,581
81$29,815,989$7,156,056$4,476,899$17,076,449
82$32,772,588$7,422,071$4,542,244$18,505,019
83$36,028,095$7,698,456$4,607,112$20,069,604
84$39,612,914$7,985,633$4,671,404$21,783,766
85$43,560,548$8,284,046$4,735,013$23,662,435
86$47,907,915$8,594,155$4,797,826$25,722,056
87$52,695,695$8,916,442$4,859,726$27,980,738
88$57,968,716$9,251,407$4,920,587$30,458,426
89$63,776,374$9,599,575$4,980,276$33,177,086
90$70,173,101$9,961,491$5,038,651$36,160,911
91$77,218,877$10,337,724$5,095,566$39,436,550
92$84,979,798$10,728,868$5,150,863$43,033,355
93$93,528,698$11,135,543$5,204,377$46,983,656
94$102,945,835$11,558,395$5,255,935$51,323,068
95$113,319,653$11,998,099$5,305,351$56,090,820
96$124,747,611$12,455,359$5,352,434$61,330,130
97$137,337,105$12,930,909$5,396,978$67,088,603
98$151,206,482$13,425,517$5,438,769$73,418,685
99$166,486,158$13,939,981$5,477,582$80,378,152
100$183,319,843$14,475,137$5,513,178$88,030,653