Can I retire at age 56 with 2,820,000?

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$232,873$230,799$228,775$226,800$224,871$221,510
2 years$115,284$113,137$111,056$109,038$107,081$103,703
3 years$76,092$73,936$71,860$69,862$67,937$64,646
4 years$56,501$54,351$52,296$50,332$48,453$45,275
5 years$44,748$42,612$40,584$38,659$36,833$33,778
6 years$36,916$34,796$32,798$30,916$29,145$26,215
7 years$31,324$29,221$27,255$25,418$23,703$20,899
8 years$27,132$25,048$23,114$21,323$19,664$16,987
9 years$23,873$21,809$19,909$18,162$16,560$14,007
10 years$21,267$19,223$17,357$15,656$14,110$11,680
11 years$19,137$17,113$15,281$13,625$12,135$9,826
12 years$17,363$15,360$13,561$11,951$10,516$8,324
13 years$15,863$13,881$12,116$10,551$9,170$7,093
14 years$14,578$12,618$10,886$9,366$8,038$6,073
15 years$13,466$11,526$9,829$8,353$7,078$5,220
16 years$12,494$10,575$8,911$7,479$6,255$4,502
17 years$11,637$9,739$8,109$6,720$5,546$3,893
18 years$10,876$9,000$7,402$6,056$4,931$3,375
19 years$10,196$8,341$6,777$5,472$4,396$2,931
20 years$9,584$7,751$6,219$4,956$3,926$2,551
21 years$9,032$7,219$5,720$4,498$3,513$2,223
22 years$8,530$6,739$5,272$4,090$3,149$1,940
23 years$8,073$6,303$4,868$3,725$2,827$1,694
24 years$7,655$5,905$4,502$3,397$2,541$1,482
25 years$7,270$5,542$4,170$3,102$2,287$1,297
26 years$6,916$5,209$3,867$2,837$2,060$1,135
27 years$6,589$4,902$3,591$2,596$1,857$995
28 years$6,285$4,619$3,338$2,379$1,676$872
29 years$6,003$4,357$3,107$2,181$1,513$765
30 years$5,740$4,115$2,894$2,002$1,367$672
31 years$5,495$3,890$2,698$1,839$1,236$590
32 years$5,265$3,681$2,517$1,690$1,118$518
33 years$5,050$3,486$2,350$1,554$1,012$455
34 years$4,848$3,304$2,196$1,430$916$400
35 years$4,658$3,134$2,053$1,316$830$351
36 years$4,479$2,974$1,921$1,212$752$309
37 years$4,310$2,825$1,798$1,117$681$272
38 years$4,150$2,685$1,683$1,029$618$239
39 years$3,999$2,553$1,577$949$560$210
40 years$3,855$2,429$1,478$875$508$185
41 years$3,719$2,312$1,386$808$461$162
42 years$3,590$2,202$1,300$745$418$143
43 years$3,467$2,098$1,220$688$380$126
44 years$3,351$2,000$1,145$635$345$111
45 years$3,239$1,907$1,075$587$313$97
46 years$3,133$1,819$1,010$542$284$86
47 years$3,032$1,736$949$501$258$75
48 years$2,935$1,657$892$463$234$66
49 years$2,842$1,583$838$428$213$58
50 years$2,753$1,512$788$395$193$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,820,000, adding $3,912 every year, while hoping to spend $46,249 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: 51/29/20 Blend
55$2,820,000$2,820,000$2,820,000$2,820,000
56$3,111,675$2,962,215$2,918,505$3,252,920
57$3,379,858$3,058,155$2,967,067$3,446,750
58$3,673,844$3,157,246$3,015,705$3,652,288
59$3,996,219$3,259,594$3,064,373$3,874,780
60$4,349,826$3,365,307$3,113,023$4,115,850
61$4,737,801$3,474,499$3,161,601$4,377,282
62$5,163,594$3,587,287$3,210,052$4,661,040
63$5,631,007$3,703,791$3,258,316$4,969,286
64$6,144,230$3,824,136$3,306,329$5,304,398
65$6,707,875$3,948,453$3,354,026$5,668,996
66$7,327,026$4,076,875$3,401,333$6,065,961
67$8,007,281$4,209,540$3,448,176$6,498,468
68$8,754,809$4,346,592$3,494,474$6,970,010
69$9,576,404$4,488,180$3,540,144$7,484,434
70$10,479,552$4,634,456$3,585,094$8,045,976
71$11,472,502$4,785,580$3,629,230$8,659,299
72$12,564,340$4,941,716$3,672,452$9,329,540
73$13,765,077$5,103,035$3,714,654$10,062,356
74$15,085,743$5,269,712$3,755,723$10,863,977
75$16,538,492$5,441,930$3,795,542$11,741,263
76$18,136,711$5,619,878$3,833,986$12,701,772
77$19,895,155$5,803,751$3,870,924$13,753,827
78$21,830,077$5,993,752$3,906,216$14,906,598
79$23,959,389$6,190,089$3,939,718$16,170,183
80$26,302,824$6,392,980$3,971,276$17,555,708
81$28,882,125$6,602,650$4,000,727$19,075,429
82$31,721,253$6,819,331$4,027,903$20,742,847
83$34,846,605$7,043,263$4,052,622$22,572,835
84$38,287,272$7,274,696$4,074,698$24,581,779
85$42,075,306$7,513,888$4,093,933$26,787,732
86$46,246,026$7,761,107$4,110,118$29,210,581
87$50,838,348$8,016,629$4,123,034$31,872,238
88$55,895,157$8,280,741$4,132,454$34,796,845
89$61,463,706$8,553,741$4,138,134$38,011,000
90$67,596,066$8,835,936$4,139,823$41,544,009
91$74,349,613$9,127,644$4,137,255$45,428,162
92$81,787,572$9,429,198$4,130,152$49,699,036
93$89,979,613$9,740,937$4,118,221$54,395,830
94$99,002,508$10,063,218$4,101,156$59,561,736
95$108,940,856$10,396,407$4,078,636$65,244,347
96$119,887,877$10,740,885$4,050,325$71,496,101
97$131,946,299$11,097,047$4,015,869$78,374,780
98$145,229,321$11,465,302$3,974,900$85,944,053
99$159,861,682$11,846,072$3,927,030$94,274,076
100$175,980,842$12,239,798$3,871,854$103,442,153