Can I retire at age 56 with 12,200,000?

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 $12,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$1,007,465$998,491$989,735$981,190$972,845$943,594
2 years$498,745$489,456$480,454$471,726$463,260$434,036
3 years$329,194$319,865$310,886$302,239$293,911$265,631
4 years$244,435$235,135$226,245$217,746$209,620$182,500
5 years$193,593$184,348$175,575$167,250$159,350$133,464
6 years$159,709$150,534$141,891$133,751$126,088$101,460
7 years$135,516$126,419$117,912$109,964$102,543$79,171
8 years$117,379$108,364$99,999$92,246$85,069$62,939
9 years$103,281$94,350$86,129$78,573$71,641$50,728
10 years$92,008$83,165$75,089$67,731$61,042$41,318
11 years$82,791$74,037$66,107$58,946$52,498$33,929
12 years$75,116$66,452$58,669$51,704$45,493$28,041
13 years$68,627$60,053$52,416$45,647$39,671$23,295
14 years$63,069$54,586$47,096$40,520$34,776$19,434
15 years$58,257$49,866$42,522$36,137$30,619$16,268
16 years$54,051$45,751$38,552$32,357$27,061$13,657
17 years$50,343$42,135$35,081$29,072$23,994$11,491
18 years$47,051$38,934$32,024$26,200$21,335$9,687
19 years$44,109$36,084$29,317$23,674$19,016$8,180
20 years$41,464$33,531$26,906$21,441$16,986$6,917
21 years$39,074$31,233$24,748$19,459$15,200$5,855
22 years$36,905$29,155$22,809$17,693$13,625$4,961
23 years$34,927$27,268$21,060$16,113$12,230$4,207
24 years$33,116$25,548$19,477$14,696$10,993$3,570
25 years$31,453$23,976$18,040$13,421$9,892$3,031
26 years$29,921$22,533$16,731$12,272$8,910$2,575
27 years$28,504$21,206$15,536$11,233$8,033$2,188
28 years$27,191$19,983$14,443$10,292$7,249$1,860
29 years$25,971$18,851$13,440$9,438$6,545$1,582
30 years$24,834$17,803$12,519$8,661$5,914$1,345
31 years$23,772$16,830$11,671$7,955$5,347$1,145
32 years$22,779$15,925$10,889$7,311$4,837$974
33 years$21,848$15,081$10,167$6,723$4,377$829
34 years$20,974$14,293$9,500$6,186$3,963$705
35 years$20,152$13,557$8,882$5,694$3,590$601
36 years$19,376$12,867$8,309$5,244$3,252$511
37 years$18,645$12,221$7,777$4,832$2,948$435
38 years$17,954$11,614$7,283$4,454$2,672$371
39 years$17,299$11,044$6,823$4,106$2,423$316
40 years$16,679$10,508$6,395$3,788$2,198$269
41 years$16,091$10,002$5,997$3,495$1,994$229
42 years$15,532$9,526$5,625$3,225$1,809$195
43 years$15,001$9,076$5,278$2,977$1,642$166
44 years$14,495$8,651$4,955$2,749$1,491$141
45 years$14,013$8,250$4,652$2,539$1,353$120
46 years$13,554$7,870$4,370$2,345$1,229$103
47 years$13,115$7,511$4,105$2,166$1,116$87
48 years$12,696$7,170$3,858$2,002$1,013$74
49 years$12,295$6,847$3,626$1,850$920$63
50 years$11,911$6,540$3,409$1,710$836$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $12,200,000, adding $5,166 every year, while hoping to spend $24,229 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: 74/12/14 Blend
55$12,200,000$12,200,000$12,200,000$12,200,000
56$13,449,729$12,803,129$12,614,029$14,404,308
57$14,795,822$13,404,703$13,010,819$15,637,834
58$16,278,404$14,034,941$13,420,090$16,985,472
59$17,911,372$14,695,224$13,842,234$18,461,394
60$19,710,039$15,386,997$14,277,656$20,078,326
61$21,691,278$16,111,776$14,726,773$21,850,282
62$23,873,685$16,871,149$15,190,016$23,792,687
63$26,277,749$17,666,783$15,667,829$25,922,524
64$28,926,049$18,500,426$16,160,672$28,258,492
65$31,843,467$19,373,907$16,669,015$30,821,181
66$35,057,421$20,289,149$17,193,347$33,633,262
67$38,598,124$21,248,164$17,734,171$36,719,699
68$42,498,872$22,253,063$18,292,005$40,107,987
69$46,796,355$23,306,061$18,867,384$43,828,398
70$51,531,002$24,409,477$19,460,861$47,914,278
71$56,747,367$25,565,745$20,073,003$52,402,346
72$62,494,549$26,777,416$20,704,399$57,333,048
73$68,826,650$28,047,167$21,355,653$62,750,927
74$75,803,291$29,377,801$22,027,391$68,705,047
75$83,490,175$30,772,261$22,720,256$75,249,450
76$91,959,701$32,233,630$23,434,913$82,443,662
77$101,291,654$33,765,142$24,172,047$90,353,253
78$111,573,958$35,370,188$24,932,365$99,050,449
79$122,903,498$37,052,324$25,716,596$108,614,814
80$135,387,045$38,815,278$26,525,492$119,133,995
81$149,142,257$40,662,960$27,359,829$130,704,544
82$164,298,791$42,599,469$28,220,407$143,432,826
83$180,999,528$44,629,103$29,108,051$157,436,019
84$199,401,921$46,756,371$30,023,612$172,843,212
85$219,679,482$48,985,998$30,967,968$189,796,624
86$242,023,420$51,322,942$31,942,026$208,452,935
87$266,644,443$53,772,401$32,946,718$228,984,765
88$293,774,751$56,339,823$33,983,008$251,582,294
89$323,670,227$59,030,926$35,051,890$276,455,052
90$356,612,851$61,851,702$36,154,389$303,833,891
91$392,913,362$64,808,436$37,291,561$333,973,158
92$432,914,195$67,907,719$38,464,498$367,153,088
93$476,992,708$71,156,462$39,674,324$403,682,442
94$525,564,749$74,561,914$40,922,199$443,901,417
95$579,088,580$78,131,675$42,209,320$488,184,846
96$638,069,204$81,873,715$43,536,920$536,945,730
97$703,063,128$85,796,393$44,906,273$590,639,129
98$774,683,626$89,908,475$46,318,691$649,766,445
99$853,606,518$94,219,152$47,775,530$714,880,152
100$940,576,557$98,738,065$49,278,185$786,588,997