Can I retire at age 56 with 2,870,000?

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 $2,870,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$237,002$234,891$232,831$230,821$228,858$227,702
2 years$117,328$115,143$113,025$110,972$108,980$107,813
3 years$77,441$75,247$73,135$71,101$69,141$68,000
4 years$57,502$55,314$53,223$51,224$49,312$48,205
5 years$45,542$43,367$41,303$39,345$37,486$36,417
6 years$37,571$35,413$33,379$31,464$29,662$28,631
7 years$31,880$29,739$27,738$25,869$24,123$23,132
8 years$27,613$25,492$23,524$21,701$20,012$19,061
9 years$24,296$22,196$20,261$18,484$16,853$15,941
10 years$21,645$19,564$17,664$15,933$14,360$13,486
11 years$19,476$17,417$15,551$13,867$12,350$11,515
12 years$17,671$15,632$13,802$12,163$10,702$9,905
13 years$16,144$14,127$12,331$10,738$9,332$8,572
14 years$14,837$12,841$11,079$9,532$8,181$7,456
15 years$13,705$11,731$10,003$8,501$7,203$6,513
16 years$12,715$10,763$9,069$7,612$6,366$5,710
17 years$11,843$9,912$8,253$6,839$5,645$5,022
18 years$11,068$9,159$7,534$6,163$5,019$4,428
19 years$10,376$8,489$6,897$5,569$4,473$3,914
20 years$9,754$7,888$6,329$5,044$3,996$3,466
21 years$9,192$7,347$5,822$4,578$3,576$3,075
22 years$8,682$6,859$5,366$4,162$3,205$2,732
23 years$8,216$6,415$4,954$3,791$2,877$2,431
24 years$7,791$6,010$4,582$3,457$2,586$2,165
25 years$7,399$5,640$4,244$3,157$2,327$1,930
26 years$7,039$5,301$3,936$2,887$2,096$1,723
27 years$6,706$4,989$3,655$2,642$1,890$1,539
28 years$6,397$4,701$3,398$2,421$1,705$1,376
29 years$6,110$4,435$3,162$2,220$1,540$1,230
30 years$5,842$4,188$2,945$2,038$1,391$1,101
31 years$5,592$3,959$2,746$1,871$1,258$986
32 years$5,359$3,746$2,562$1,720$1,138$883
33 years$5,140$3,548$2,392$1,581$1,030$791
34 years$4,934$3,362$2,235$1,455$932$709
35 years$4,741$3,189$2,089$1,340$844$636
36 years$4,558$3,027$1,955$1,234$765$571
37 years$4,386$2,875$1,829$1,137$693$512
38 years$4,224$2,732$1,713$1,048$629$460
39 years$4,070$2,598$1,605$966$570$413
40 years$3,924$2,472$1,504$891$517$370
41 years$3,785$2,353$1,411$822$469$333
42 years$3,654$2,241$1,323$759$426$299
43 years$3,529$2,135$1,242$700$386$268
44 years$3,410$2,035$1,166$647$351$241
45 years$3,297$1,941$1,094$597$318$217
46 years$3,188$1,851$1,028$552$289$195
47 years$3,085$1,767$966$510$262$175
48 years$2,987$1,687$907$471$238$157
49 years$2,892$1,611$853$435$216$141
50 years$2,802$1,539$802$402$197$127

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,870,000, adding $4,708 every year, while hoping to spend $22,457 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: 55/23/22 Blend
55$2,870,000$2,870,000$2,870,000$2,870,000
56$3,167,596$3,015,486$2,971,001$3,322,580
57$3,466,797$3,139,351$3,046,636$3,553,156
58$3,795,764$3,268,533$3,124,051$3,801,369
59$4,157,508$3,403,268$3,203,284$4,071,203
60$4,555,350$3,543,804$3,284,370$4,364,739
61$4,992,946$3,690,400$3,367,346$4,684,263
62$5,474,324$3,843,328$3,452,250$5,032,291
63$6,003,925$4,002,870$3,539,120$5,411,592
64$6,586,637$4,169,323$3,627,993$5,825,209
65$7,227,852$4,342,997$3,718,908$6,276,492
66$7,933,505$4,524,216$3,811,904$6,769,129
67$8,710,140$4,713,320$3,907,020$7,307,173
68$9,564,966$4,910,664$4,004,297$7,895,091
69$10,505,925$5,116,620$4,103,773$8,537,794
70$11,541,770$5,331,575$4,205,490$9,240,691
71$12,682,145$5,555,936$4,309,488$10,009,734
72$13,937,676$5,790,129$4,415,809$10,851,476
73$15,320,072$6,034,599$4,524,492$11,773,131
74$16,842,237$6,289,812$4,635,580$12,782,640
75$18,518,388$6,556,255$4,749,114$13,888,750
76$20,364,190$6,834,439$4,865,136$15,101,086
77$22,396,908$7,124,896$4,983,689$16,430,252
78$24,635,563$7,428,187$5,104,813$17,887,920
79$27,101,118$7,744,895$5,228,551$19,486,947
80$29,816,669$8,075,633$5,354,945$21,241,490
81$32,807,672$8,421,041$5,484,038$23,167,139
82$36,102,172$8,781,789$5,615,871$25,281,067
83$39,731,076$9,158,580$5,750,486$27,602,184
84$43,728,443$9,552,148$5,887,924$30,151,319
85$48,131,803$9,963,262$6,028,228$32,951,416
86$52,982,512$10,392,726$6,171,439$36,027,743
87$58,326,143$10,841,384$6,317,597$39,408,136
88$64,212,916$11,310,119$6,466,742$43,123,255
89$70,698,171$11,799,852$6,618,916$47,206,872
90$77,842,891$12,311,552$6,774,157$51,696,194
91$85,714,279$12,846,231$6,932,504$56,632,204
92$94,386,388$13,404,948$7,093,995$62,060,051
93$103,940,823$13,988,814$7,258,667$68,029,471
94$114,467,511$14,598,991$7,426,557$74,595,260
95$126,065,551$15,236,695$7,597,701$81,817,780
96$138,844,145$15,903,201$7,772,131$89,763,537
97$152,923,633$16,599,843$7,949,883$98,505,797
98$168,436,626$17,328,018$8,130,986$108,125,281
99$185,529,260$18,089,189$8,315,473$118,710,922
100$204,362,574$18,884,888$8,503,370$130,360,701