Can I retire at age 56 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$239,479$237,346$235,265$233,234$231,250$223,490
2 years$118,554$116,346$114,206$112,132$110,119$102,377
3 years$78,251$76,033$73,899$71,844$69,864$62,384
4 years$58,103$55,893$53,780$51,759$49,828$42,666
5 years$46,018$43,821$41,735$39,756$37,878$31,055
6 years$37,964$35,783$33,728$31,793$29,972$23,492
7 years$32,213$30,050$28,028$26,139$24,375$18,237
8 years$27,902$25,759$23,770$21,927$20,221$14,421
9 years$24,550$22,428$20,473$18,677$17,029$11,560
10 years$21,871$19,769$17,849$16,100$14,510$9,362
11 years$19,680$17,599$15,714$14,012$12,479$7,643
12 years$17,855$15,796$13,946$12,290$10,814$6,279
13 years$16,313$14,275$12,460$10,850$9,430$5,185
14 years$14,992$12,975$11,195$9,632$8,266$4,299
15 years$13,848$11,853$10,108$8,590$7,278$3,575
16 years$12,848$10,875$9,164$7,691$6,433$2,982
17 years$11,967$10,016$8,339$6,911$5,704$2,493
18 years$11,184$9,255$7,612$6,228$5,071$2,087
19 years$10,485$8,577$6,969$5,627$4,520$1,751
20 years$9,856$7,970$6,396$5,097$4,038$1,470
21 years$9,288$7,424$5,883$4,626$3,613$1,236
22 years$8,772$6,930$5,422$4,206$3,239$1,040
23 years$8,302$6,482$5,006$3,830$2,907$876
24 years$7,872$6,073$4,630$3,493$2,613$738
25 years$7,477$5,699$4,288$3,190$2,351$622
26 years$7,112$5,356$3,977$2,917$2,118$524
27 years$6,776$5,041$3,693$2,670$1,910$442
28 years$6,463$4,750$3,433$2,446$1,723$373
29 years$6,173$4,481$3,195$2,243$1,556$315
30 years$5,903$4,232$2,976$2,059$1,406$266
31 years$5,651$4,001$2,774$1,891$1,271$225
32 years$5,415$3,785$2,588$1,738$1,150$190
33 years$5,193$3,585$2,417$1,598$1,040$160
34 years$4,986$3,398$2,258$1,470$942$135
35 years$4,790$3,223$2,111$1,354$853$114
36 years$4,606$3,059$1,975$1,247$773$97
37 years$4,432$2,905$1,849$1,149$701$82
38 years$4,268$2,761$1,731$1,059$635$69
39 years$4,112$2,625$1,622$976$576$58
40 years$3,965$2,498$1,520$900$522$49
41 years$3,825$2,378$1,425$831$474$42
42 years$3,692$2,264$1,337$767$430$35
43 years$3,566$2,157$1,255$708$390$30
44 years$3,446$2,056$1,178$653$354$25
45 years$3,331$1,961$1,106$603$322$21
46 years$3,222$1,871$1,039$557$292$18
47 years$3,118$1,785$976$515$265$15
48 years$3,018$1,704$917$476$241$13
49 years$2,923$1,628$862$440$219$11
50 years$2,831$1,555$810$406$199$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,900,000, adding $3,195 every year, while hoping to spend $37,293 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: 54/21/25 Blend
55$2,900,000$2,900,000$2,900,000$2,900,000
56$3,199,096$3,045,396$3,000,446$3,349,585
57$3,485,724$3,154,941$3,061,281$3,563,171
58$3,800,338$3,268,603$3,122,905$3,791,445
59$4,145,754$3,386,546$3,185,303$4,039,194
60$4,525,073$3,508,938$3,248,462$4,308,297
61$4,941,710$3,635,956$3,312,366$4,600,823
62$5,399,429$3,767,783$3,376,995$4,919,045
63$5,902,376$3,904,609$3,442,329$5,265,469
64$6,455,118$4,046,635$3,508,347$5,642,849
65$7,062,686$4,194,066$3,575,023$6,054,221
66$7,730,625$4,347,120$3,642,331$6,502,923
67$8,465,041$4,506,022$3,710,241$6,992,632
68$9,272,664$4,671,005$3,778,723$7,527,396
69$10,160,905$4,842,314$3,847,740$8,111,670
70$11,137,934$5,020,204$3,917,256$8,750,363
71$12,212,749$5,204,940$3,987,230$9,448,877
72$13,395,266$5,396,798$4,057,618$10,213,162
73$14,696,409$5,596,067$4,128,374$11,049,772
74$16,128,216$5,803,048$4,199,448$11,965,922
75$17,703,950$6,018,053$4,270,785$12,969,561
76$19,438,224$6,241,409$4,342,328$14,069,442
77$21,347,141$6,473,456$4,414,014$15,275,206
78$23,448,443$6,714,549$4,485,777$16,597,472
79$25,761,681$6,965,058$4,557,547$18,047,939
80$28,308,396$7,225,370$4,629,248$19,639,490
81$31,112,325$7,495,886$4,700,801$21,386,320
82$34,199,624$7,777,026$4,772,120$23,304,063
83$37,599,113$8,069,228$4,843,114$25,409,944
84$41,342,551$8,372,948$4,913,686$27,722,936
85$45,464,932$8,688,664$4,983,736$30,263,944
86$50,004,817$9,016,870$5,053,153$33,055,994
87$55,004,698$9,358,087$5,121,823$36,124,459
88$60,511,398$9,712,853$5,189,624$39,497,290
89$66,576,512$10,081,734$5,256,428$43,205,280
90$73,256,896$10,465,319$5,322,098$47,282,358
91$80,615,200$10,864,220$5,386,489$51,765,906
92$88,720,464$11,279,080$5,449,450$56,697,108
93$97,648,763$11,710,568$5,510,819$62,121,342
94$107,483,932$12,159,380$5,570,426$68,088,606
95$118,318,351$12,626,247$5,628,093$74,653,987
96$130,253,818$13,111,929$5,683,630$81,878,185
97$143,402,513$13,617,220$5,736,837$89,828,078
98$157,888,054$14,142,948$5,787,506$98,577,356
99$173,846,662$14,689,979$5,835,414$108,207,217
100$191,428,450$15,259,217$5,880,329$118,807,129