Can I retire at age 56 with 3,100,000?

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 $3,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$255,995$253,715$251,490$249,319$247,198$242,207
2 years$126,730$124,370$122,083$119,865$117,714$112,707
3 years$83,648$81,277$78,996$76,799$74,682$69,816
4 years$62,110$59,747$57,489$55,329$53,264$48,576
5 years$49,192$46,843$44,613$42,498$40,490$35,994
6 years$40,582$38,251$36,054$33,986$32,039$27,739
7 years$34,434$32,123$29,961$27,942$26,056$21,954
8 years$29,826$27,535$25,410$23,440$21,616$17,710
9 years$26,243$23,974$21,885$19,965$18,204$14,491
10 years$23,379$21,132$19,080$17,210$15,511$11,988
11 years$21,037$18,813$16,798$14,978$13,340$10,002
12 years$19,087$16,885$14,908$13,138$11,560$8,403
13 years$17,438$15,259$13,319$11,599$10,080$7,099
14 years$16,026$13,870$11,967$10,296$8,836$6,025
15 years$14,803$12,671$10,805$9,182$7,780$5,132
16 years$13,734$11,625$9,796$8,222$6,876$4,386
17 years$12,792$10,706$8,914$7,387$6,097$3,758
18 years$11,956$9,893$8,137$6,657$5,421$3,227
19 years$11,208$9,169$7,449$6,015$4,832$2,776
20 years$10,536$8,520$6,837$5,448$4,316$2,392
21 years$9,929$7,936$6,288$4,945$3,862$2,064
22 years$9,377$7,408$5,796$4,496$3,462$1,784
23 years$8,875$6,929$5,351$4,094$3,108$1,542
24 years$8,415$6,492$4,949$3,734$2,793$1,335
25 years$7,992$6,092$4,584$3,410$2,514$1,156
26 years$7,603$5,726$4,251$3,118$2,264$1,002
27 years$7,243$5,389$3,948$2,854$2,041$869
28 years$6,909$5,078$3,670$2,615$1,842$754
29 years$6,599$4,790$3,415$2,398$1,663$654
30 years$6,310$4,524$3,181$2,201$1,503$568
31 years$6,041$4,276$2,966$2,021$1,359$494
32 years$5,788$4,046$2,767$1,858$1,229$429
33 years$5,552$3,832$2,584$1,708$1,112$373
34 years$5,329$3,632$2,414$1,572$1,007$324
35 years$5,120$3,445$2,257$1,447$912$282
36 years$4,924$3,270$2,111$1,333$826$245
37 years$4,738$3,105$1,976$1,228$749$213
38 years$4,562$2,951$1,850$1,132$679$185
39 years$4,396$2,806$1,734$1,043$616$161
40 years$4,238$2,670$1,625$962$559$140
41 years$4,089$2,542$1,524$888$507$122
42 years$3,947$2,420$1,429$819$460$106
43 years$3,812$2,306$1,341$756$417$92
44 years$3,683$2,198$1,259$698$379$80
45 years$3,561$2,096$1,182$645$344$70
46 years$3,444$2,000$1,110$596$312$61
47 years$3,333$1,908$1,043$550$283$53
48 years$3,226$1,822$980$509$257$46
49 years$3,124$1,740$921$470$234$40
50 years$3,027$1,662$866$435$212$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $3,100,000, adding $3,418 every year, while hoping to spend $42,430 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: 65/28/7 Blend
55$3,100,000$3,100,000$3,100,000$3,100,000
56$3,419,726$3,255,426$3,207,376$3,637,480
57$3,723,392$3,369,796$3,269,678$3,897,106
58$4,056,611$3,488,349$3,332,644$4,175,284
59$4,422,351$3,611,244$3,396,254$4,478,083
60$4,823,884$3,738,648$3,460,481$4,807,893
61$5,264,812$3,870,734$3,525,299$5,167,344
62$5,749,105$4,007,682$3,590,679$5,559,330
63$6,281,136$4,149,680$3,656,588$5,987,036
64$6,865,720$4,296,923$3,722,993$6,453,967
65$7,508,165$4,449,614$3,789,855$6,963,982
66$8,214,317$4,607,964$3,857,134$7,521,327
67$8,990,617$4,772,193$3,924,787$8,130,677
68$9,844,160$4,942,531$3,992,768$8,797,179
69$10,782,764$5,119,215$4,061,025$9,526,500
70$11,815,043$5,302,493$4,129,506$10,324,877
71$12,950,485$5,492,623$4,198,153$11,199,182
72$14,199,548$5,689,875$4,266,904$12,156,977
73$15,573,751$5,894,527$4,335,694$13,206,591
74$17,085,786$6,106,872$4,404,453$14,357,199
75$18,749,640$6,327,212$4,473,106$15,618,901
76$20,580,721$6,555,864$4,541,573$17,002,822
77$22,596,010$6,793,156$4,609,770$18,521,215
78$24,814,213$7,039,431$4,677,608$20,187,576
79$27,255,946$7,295,046$4,744,991$22,016,768
80$29,943,921$7,560,373$4,811,817$24,025,163
81$32,903,169$7,835,799$4,877,981$26,230,795
82$36,161,266$8,121,726$4,943,367$28,653,530
83$39,748,601$8,418,577$5,007,855$31,315,249
84$43,698,659$8,726,788$5,071,319$34,240,057
85$48,048,338$9,046,816$5,133,624$37,454,508
86$52,838,294$9,379,137$5,194,627$40,987,856
87$58,113,331$9,724,245$5,254,178$44,872,326
88$63,922,816$10,082,658$5,312,118$49,143,422
89$70,321,149$10,454,914$5,368,280$53,840,256
90$77,368,276$10,841,574$5,422,486$59,005,920
91$85,130,252$11,243,223$5,474,551$64,687,889
92$93,679,867$11,660,471$5,524,278$70,938,466
93$103,097,333$12,093,953$5,571,461$77,815,279
94$113,471,036$12,544,333$5,615,881$85,381,820
95$124,898,378$13,012,301$5,657,309$93,708,043
96$137,486,687$13,498,578$5,695,503$102,871,022
97$151,354,237$14,003,917$5,730,211$112,955,679
98$166,631,361$14,529,100$5,761,164$124,055,584
99$183,461,679$15,074,945$5,788,082$136,273,831
100$202,003,458$15,642,305$5,810,670$149,724,018