Can I retire at age 56 with 10,700,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $10,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$883,596$875,725$868,047$860,552$853,233$830,921
2 years$437,424$429,277$421,382$413,727$406,301$383,975
3 years$288,719$280,537$272,662$265,079$257,774$236,131
4 years$214,381$206,225$198,428$190,974$183,847$163,054
5 years$169,790$161,683$153,988$146,687$139,757$119,872
6 years$140,073$132,026$124,445$117,306$110,585$91,627
7 years$118,854$110,875$103,415$96,444$89,935$71,905
8 years$102,948$95,041$87,704$80,905$74,610$57,499
9 years$90,582$82,750$75,539$68,913$62,833$46,626
10 years$80,696$72,940$65,857$59,403$53,536$38,215
11 years$72,612$64,934$57,979$51,699$46,043$31,583
12 years$65,881$58,281$51,455$45,347$39,900$26,275
13 years$60,189$52,669$45,972$40,034$34,794$21,976
14 years$55,315$47,875$41,306$35,538$30,500$18,460
15 years$51,094$43,735$37,294$31,694$26,854$15,562
16 years$47,405$40,126$33,812$28,378$23,734$13,158
17 years$44,153$36,954$30,768$25,498$21,044$11,152
18 years$41,266$34,147$28,087$22,979$18,712$9,472
19 years$38,685$31,648$25,712$20,763$16,678$8,058
20 years$36,366$29,408$23,597$18,805$14,897$6,866
21 years$34,270$27,393$21,705$17,067$13,331$5,857
22 years$32,367$25,570$20,005$15,518$11,950$5,001
23 years$30,633$23,915$18,471$14,132$10,727$4,275
24 years$29,045$22,407$17,082$12,889$9,641$3,656
25 years$27,586$21,028$15,822$11,771$8,676$3,129
26 years$26,242$19,763$14,674$10,763$7,815$2,680
27 years$25,000$18,599$13,626$9,852$7,046$2,296
28 years$23,848$17,526$12,667$9,026$6,357$1,968
29 years$22,778$16,534$11,788$8,277$5,741$1,687
30 years$21,781$15,614$10,980$7,596$5,187$1,447
31 years$20,850$14,761$10,236$6,977$4,690$1,241
32 years$19,979$13,967$9,551$6,412$4,242$1,065
33 years$19,162$13,227$8,917$5,896$3,839$914
34 years$18,395$12,536$8,332$5,425$3,476$784
35 years$17,674$11,890$7,790$4,994$3,148$673
36 years$16,994$11,285$7,287$4,599$2,852$578
37 years$16,353$10,718$6,821$4,238$2,585$496
38 years$15,746$10,186$6,387$3,906$2,344$426
39 years$15,172$9,686$5,984$3,602$2,125$366
40 years$14,629$9,216$5,609$3,322$1,928$314
41 years$14,113$8,772$5,259$3,065$1,749$270
42 years$13,623$8,355$4,933$2,828$1,587$232
43 years$13,157$7,960$4,629$2,611$1,440$199
44 years$12,713$7,588$4,345$2,411$1,307$171
45 years$12,290$7,236$4,080$2,226$1,187$147
46 years$11,887$6,903$3,832$2,057$1,078$126
47 years$11,503$6,587$3,600$1,900$979$108
48 years$11,135$6,288$3,383$1,756$889$93
49 years$10,783$6,005$3,180$1,623$807$80
50 years$10,447$5,736$2,990$1,500$733$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $10,700,000, adding $6,580 every year, while hoping to spend $23,522 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: 43/28/29 Blend
55$10,700,000$10,700,000$10,700,000$10,700,000
56$11,798,187$11,231,087$11,065,237$12,205,445
57$12,976,575$11,756,383$11,410,895$13,023,866
58$14,274,370$12,306,631$11,767,345$13,907,344
59$15,703,727$12,883,027$12,134,922$14,864,181
60$17,278,040$13,486,827$12,513,975$15,901,197
61$19,012,067$14,119,349$12,904,860$17,025,880
62$20,922,073$14,781,972$13,307,947$18,246,452
63$23,025,978$15,476,143$13,723,618$19,571,945
64$25,343,532$16,203,378$14,152,263$21,012,281
65$27,896,498$16,965,269$14,594,289$22,578,359
66$30,708,855$17,763,481$15,050,113$24,282,159
67$33,807,031$18,599,765$15,520,164$26,136,845
68$37,220,145$19,475,950$16,004,887$28,156,888
69$40,980,289$20,393,961$16,504,739$30,358,195
70$45,122,823$21,355,809$17,020,192$32,758,257
71$49,686,716$22,363,609$17,551,734$35,376,304
72$54,714,909$23,419,574$18,099,865$38,233,487
73$60,254,722$24,526,025$18,665,103$41,353,064
74$66,358,301$25,685,398$19,247,981$44,760,622
75$73,083,110$26,900,245$19,849,051$48,484,304
76$80,492,472$28,173,241$20,468,878$52,555,073
77$88,656,167$29,507,193$21,108,049$57,006,994
78$97,651,093$30,905,043$21,767,166$61,877,552
79$107,561,990$32,369,875$22,446,851$67,207,994
80$118,482,238$33,904,924$23,147,746$73,043,711
81$130,514,743$35,513,582$23,870,512$79,434,661
82$143,772,903$37,199,404$24,615,831$86,435,828
83$158,381,685$38,966,120$25,384,406$94,107,734
84$174,478,796$40,817,640$26,176,964$102,516,999
85$192,215,992$42,758,062$26,994,250$111,736,963
86$211,760,502$44,791,687$27,837,037$121,848,363
87$233,296,615$46,923,021$28,706,119$132,940,089
88$257,027,412$49,156,792$29,602,317$145,110,006
89$283,176,689$51,497,955$30,526,475$158,465,871
90$311,991,065$53,951,709$31,479,466$173,126,337
91$343,742,313$56,523,502$32,462,188$189,222,055
92$378,729,926$59,219,051$33,475,568$206,896,899
93$417,283,942$62,044,347$34,520,562$226,309,308
94$459,768,059$65,005,675$35,598,156$247,633,766
95$506,583,072$68,109,625$36,709,366$271,062,434
96$558,170,655$71,363,106$37,855,239$296,806,946
97$615,017,529$74,773,365$39,036,856$325,100,393
98$677,660,058$78,348,001$40,255,332$356,199,503
99$746,689,313$82,094,982$41,511,815$390,387,046
100$822,756,652$86,022,666$42,807,490$427,974,483