Can I retire at age 56 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$237,828$235,709$233,642$231,625$229,655$227,826
2 years$117,736$115,544$113,419$111,358$109,360$107,516
3 years$77,711$75,509$73,389$71,348$69,382$67,581
4 years$57,703$55,507$53,409$51,402$49,484$47,739
5 years$45,701$43,518$41,447$39,482$37,617$35,933
6 years$37,702$35,536$33,496$31,574$29,765$28,145
7 years$31,991$29,843$27,835$25,959$24,207$22,651
8 years$27,709$25,581$23,606$21,776$20,082$18,591
9 years$24,381$22,273$20,332$18,548$16,912$15,484
10 years$21,720$19,632$17,726$15,989$14,410$13,045
11 years$19,544$17,478$15,606$13,915$12,393$11,091
12 years$17,732$15,687$13,850$12,205$10,739$9,498
13 years$16,200$14,176$12,374$10,776$9,365$8,183
14 years$14,888$12,886$11,118$9,565$8,209$7,085
15 years$13,752$11,772$10,038$8,531$7,228$6,161
16 years$12,759$10,800$9,101$7,638$6,388$5,376
17 years$11,884$9,947$8,281$6,863$5,664$4,705
18 years$11,107$9,191$7,560$6,185$5,036$4,128
19 years$10,413$8,518$6,921$5,589$4,489$3,630
20 years$9,788$7,916$6,351$5,062$4,010$3,199
21 years$9,224$7,373$5,842$4,594$3,588$2,823
22 years$8,712$6,882$5,384$4,177$3,216$2,495
23 years$8,245$6,437$4,972$3,804$2,887$2,208
24 years$7,818$6,031$4,598$3,469$2,595$1,957
25 years$7,425$5,660$4,259$3,168$2,335$1,735
26 years$7,063$5,319$3,950$2,897$2,103$1,540
27 years$6,729$5,006$3,668$2,652$1,896$1,368
28 years$6,419$4,717$3,409$2,429$1,711$1,216
29 years$6,131$4,450$3,173$2,228$1,545$1,082
30 years$5,862$4,203$2,955$2,045$1,396$962
31 years$5,612$3,973$2,755$1,878$1,262$857
32 years$5,377$3,759$2,571$1,726$1,142$763
33 years$5,158$3,560$2,400$1,587$1,033$680
34 years$4,951$3,374$2,243$1,460$936$606
35 years$4,757$3,200$2,097$1,344$847$540
36 years$4,574$3,038$1,961$1,238$768$482
37 years$4,401$2,885$1,836$1,141$696$430
38 years$4,238$2,742$1,719$1,051$631$383
39 years$4,084$2,607$1,611$969$572$342
40 years$3,937$2,480$1,510$894$519$305
41 years$3,799$2,361$1,416$825$471$273
42 years$3,667$2,249$1,328$761$427$243
43 years$3,541$2,143$1,246$703$388$217
44 years$3,422$2,042$1,170$649$352$194
45 years$3,308$1,948$1,098$599$319$173
46 years$3,200$1,858$1,031$554$290$155
47 years$3,096$1,773$969$511$263$138
48 years$2,997$1,693$911$473$239$123
49 years$2,902$1,616$856$437$217$110
50 years$2,812$1,544$805$404$197$98

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,880,000, adding $2,517 every year, while hoping to spend $49,748 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: 71/11/18 Blend
55$2,880,000$2,880,000$2,880,000$2,880,000
56$3,176,356$3,023,716$2,979,076$3,388,131
57$3,447,413$3,118,947$3,025,944$3,624,574
58$3,744,450$3,217,176$3,072,714$3,877,157
59$4,070,066$3,318,499$3,119,331$4,152,433
60$4,427,120$3,423,013$3,165,736$4,452,641
61$4,818,763$3,530,818$3,211,866$4,780,245
62$5,248,467$3,642,018$3,257,653$5,137,961
63$5,720,053$3,756,720$3,303,027$5,528,780
64$6,237,733$3,875,033$3,347,913$5,955,993
65$6,806,145$3,997,073$3,392,231$6,423,230
66$7,430,397$4,122,955$3,435,897$6,934,486
67$8,116,120$4,252,802$3,478,821$7,494,162
68$8,869,512$4,386,737$3,520,909$8,107,106
69$9,697,405$4,524,890$3,562,063$8,778,660
70$10,607,324$4,667,394$3,602,176$9,514,707
71$11,607,560$4,814,384$3,641,137$10,321,730
72$12,707,245$4,966,004$3,678,830$11,206,869
73$13,916,444$5,122,398$3,715,130$12,177,992
74$15,246,242$5,283,716$3,749,908$13,243,767
75$16,708,855$5,450,114$3,783,026$14,413,743
76$18,317,740$5,621,752$3,814,339$15,698,442
77$20,087,726$5,798,794$3,843,696$17,109,456
78$22,035,151$5,981,411$3,870,936$18,659,560
79$24,178,014$6,169,779$3,895,891$20,362,825
80$26,536,151$6,364,077$3,918,383$22,234,759
81$29,131,415$6,564,494$3,938,225$24,292,449
82$31,987,886$6,771,221$3,955,223$26,554,719
83$35,132,097$6,984,457$3,969,169$29,042,316
84$38,593,283$7,204,408$3,979,848$31,778,097
85$42,403,658$7,431,284$3,987,033$34,787,250
86$46,598,718$7,665,304$3,990,486$38,097,527
87$51,217,576$7,906,692$3,989,955$41,739,512
88$56,303,329$8,155,680$3,985,179$45,746,904
89$61,903,468$8,412,508$3,975,882$50,156,836
90$68,070,323$8,677,422$3,961,776$55,010,228
91$74,861,557$8,950,677$3,942,556$60,352,171
92$82,340,712$9,232,536$3,917,907$66,232,350
93$90,577,803$9,523,268$3,887,496$72,705,519
94$99,649,985$9,823,155$3,850,973$79,832,012
95$109,642,277$10,132,483$3,807,974$87,678,316
96$120,648,364$10,451,550$3,758,117$96,317,695
97$132,771,484$10,780,662$3,701,000$105,830,886
98$146,125,396$11,120,136$3,636,205$116,306,856
99$160,835,462$11,470,298$3,563,293$127,843,645
100$177,039,820$11,831,483$3,481,804$140,549,291