Can I retire at age 56 with 2,860,000?

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 $2,860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$236,176$234,072$232,020$230,017$228,060$219,098
2 years$116,919$114,741$112,631$110,585$108,600$99,681
3 years$77,172$74,985$72,880$70,853$68,900$60,304
4 years$57,302$55,122$53,038$51,045$49,140$40,933
5 years$45,383$43,216$41,159$39,208$37,356$29,558
6 years$37,440$35,289$33,263$31,355$29,558$22,176
7 years$31,769$29,636$27,642$25,779$24,039$17,069
8 years$27,517$25,403$23,442$21,625$19,943$13,378
9 years$24,212$22,118$20,191$18,420$16,794$10,625
10 years$21,569$19,496$17,603$15,878$14,310$8,524
11 years$19,408$17,356$15,497$13,819$12,307$6,891
12 years$17,609$15,578$13,753$12,121$10,665$5,605
13 years$16,088$14,078$12,288$10,701$9,300$4,581
14 years$14,785$12,796$11,041$9,499$8,152$3,758
15 years$13,657$11,690$9,968$8,471$7,178$3,093
16 years$12,671$10,725$9,038$7,585$6,344$2,552
17 years$11,802$9,878$8,224$6,815$5,625$2,109
18 years$11,030$9,127$7,507$6,142$5,001$1,747
19 years$10,340$8,459$6,873$5,550$4,458$1,448
20 years$9,720$7,861$6,307$5,026$3,982$1,202
21 years$9,160$7,322$5,802$4,562$3,563$999
22 years$8,651$6,835$5,347$4,148$3,194$831
23 years$8,188$6,392$4,937$3,777$2,867$691
24 years$7,763$5,989$4,566$3,445$2,577$576
25 years$7,374$5,621$4,229$3,146$2,319$479
26 years$7,014$5,282$3,922$2,877$2,089$399
27 years$6,682$4,971$3,642$2,633$1,883$333
28 years$6,374$4,684$3,386$2,413$1,699$278
29 years$6,088$4,419$3,151$2,212$1,534$231
30 years$5,822$4,174$2,935$2,030$1,386$193
31 years$5,573$3,945$2,736$1,865$1,253$161
32 years$5,340$3,733$2,553$1,714$1,134$134
33 years$5,122$3,535$2,384$1,576$1,026$112
34 years$4,917$3,351$2,227$1,450$929$93
35 years$4,724$3,178$2,082$1,335$841$78
36 years$4,542$3,016$1,948$1,229$762$65
37 years$4,371$2,865$1,823$1,133$691$54
38 years$4,209$2,723$1,707$1,044$626$45
39 years$4,055$2,589$1,599$963$568$38
40 years$3,910$2,463$1,499$888$515$32
41 years$3,772$2,345$1,406$819$467$26
42 years$3,641$2,233$1,319$756$424$22
43 years$3,517$2,128$1,237$698$385$18
44 years$3,398$2,028$1,162$644$349$15
45 years$3,285$1,934$1,091$595$317$13
46 years$3,177$1,845$1,024$550$288$11
47 years$3,075$1,761$962$508$262$9
48 years$2,976$1,681$904$469$238$7
49 years$2,882$1,605$850$434$216$6
50 years$2,792$1,533$799$401$196$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,860,000, adding $2,074 every year, while hoping to spend $36,416 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: 55/29/16 Blend
55$2,860,000$2,860,000$2,860,000$2,860,000
56$3,153,859$3,002,279$2,957,949$3,313,842
57$3,436,807$3,110,645$3,018,294$3,531,375
58$3,747,394$3,223,099$3,079,440$3,764,035
59$4,088,402$3,339,805$3,141,376$4,016,560
60$4,462,895$3,460,932$3,204,087$4,290,856
61$4,874,246$3,586,653$3,267,560$4,589,020
62$5,326,174$3,717,154$3,331,778$4,913,356
63$5,822,773$3,852,623$3,396,722$5,266,403
64$6,368,555$3,993,261$3,462,371$5,650,951
65$6,968,490$4,139,273$3,528,703$6,070,074
66$7,628,054$4,290,876$3,595,693$6,527,150
67$8,353,280$4,448,293$3,663,313$7,025,902
68$9,150,815$4,611,760$3,731,535$7,570,423
69$10,027,982$4,781,520$3,800,325$8,165,222
70$10,992,850$4,957,828$3,869,649$8,815,260
71$12,054,307$5,140,948$3,939,468$9,526,000
72$13,222,148$5,331,157$4,009,743$10,303,455
73$14,507,166$5,528,742$4,080,428$11,154,247
74$15,921,251$5,734,005$4,151,477$12,085,667
75$17,477,505$5,947,257$4,222,837$13,105,743
76$19,190,364$6,168,826$4,294,456$14,223,314
77$21,075,734$6,399,051$4,366,273$15,448,116
78$23,151,142$6,638,289$4,438,227$16,790,870
79$25,435,902$6,886,907$4,510,250$18,263,382
80$27,951,291$7,145,294$4,582,271$19,878,655
81$30,720,760$7,413,850$4,654,214$21,651,013
82$33,770,146$7,692,997$4,725,999$23,596,229
83$37,127,919$7,983,172$4,797,537$25,731,680
84$40,825,450$8,284,831$4,868,739$28,076,502
85$44,897,311$8,598,452$4,939,506$30,651,779
86$49,381,592$8,924,532$5,009,735$33,480,732
87$54,320,270$9,263,590$5,079,317$36,588,943
88$59,759,599$9,616,167$5,148,135$40,004,591
89$65,750,547$9,982,828$5,216,066$43,758,721
90$72,349,278$10,364,162$5,282,981$47,885,532
91$79,617,684$10,760,786$5,348,740$52,422,701
92$87,623,964$11,173,340$5,413,199$57,411,734
93$96,443,271$11,602,496$5,476,204$62,898,362
94$106,158,419$12,048,953$5,537,591$68,932,963
95$116,860,668$12,513,442$5,597,190$75,571,044
96$128,650,579$12,996,724$5,654,819$82,873,758
97$141,638,970$13,499,596$5,710,288$90,908,483
98$155,947,958$14,022,888$5,763,395$99,749,452
99$171,712,109$14,567,469$5,813,928$109,478,456
100$189,079,713$15,134,245$5,861,664$120,185,613