Can I retire at age 56 with 12,300,000?

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 $12,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$1,015,723$1,006,675$997,848$989,232$980,819$968,162
2 years$502,833$493,468$484,392$475,592$467,057$454,323
3 years$331,892$322,487$313,434$304,717$296,320$283,905
4 years$246,438$237,062$228,100$219,531$211,338$199,338
5 years$195,180$185,859$177,015$168,621$160,656$149,105
6 years$161,018$151,768$143,054$134,848$127,121$116,034
7 years$136,627$127,455$118,879$110,866$103,384$92,764
8 years$118,342$109,252$100,818$93,002$85,767$75,614
9 years$104,127$95,124$86,835$79,217$72,228$62,537
10 years$92,762$83,847$75,705$68,286$61,542$52,307
11 years$83,470$74,644$66,649$59,429$52,928$44,140
12 years$75,732$66,996$59,149$52,128$45,866$37,515
13 years$69,189$60,545$52,846$46,021$39,996$32,071
14 years$63,586$55,034$47,482$40,852$35,061$27,549
15 years$58,735$50,274$42,870$36,433$30,870$23,761
16 years$54,494$46,126$38,868$32,622$27,283$20,562
17 years$50,755$42,480$35,369$29,310$24,191$17,845
18 years$47,436$39,254$32,287$26,415$21,510$15,525
19 years$44,470$36,380$29,557$23,868$19,172$13,535
20 years$41,804$33,806$27,126$21,617$17,125$11,821
21 years$39,395$31,489$24,951$19,619$15,325$10,341
22 years$37,207$29,394$22,996$17,838$13,736$9,057
23 years$35,213$27,491$21,233$16,245$12,331$7,943
24 years$33,388$25,758$19,637$14,817$11,083$6,972
25 years$31,711$24,172$18,187$13,531$9,973$6,125
26 years$30,166$22,718$16,868$12,372$8,983$5,386
27 years$28,738$21,380$15,663$11,325$8,099$4,739
28 years$27,414$20,147$14,561$10,376$7,308$4,172
29 years$26,184$19,006$13,550$9,515$6,599$3,675
30 years$25,037$17,949$12,622$8,732$5,963$3,238
31 years$23,967$16,968$11,767$8,020$5,391$2,855
32 years$22,966$16,055$10,979$7,371$4,876$2,517
33 years$22,027$15,204$10,251$6,778$4,413$2,221
34 years$21,146$14,410$9,578$6,236$3,996$1,960
35 years$20,317$13,668$8,955$5,741$3,619$1,729
36 years$19,535$12,973$8,377$5,287$3,279$1,527
37 years$18,798$12,321$7,841$4,871$2,972$1,348
38 years$18,101$11,710$7,342$4,490$2,694$1,190
39 years$17,441$11,135$6,879$4,140$2,443$1,051
40 years$16,816$10,594$6,448$3,819$2,216$929
41 years$16,223$10,084$6,046$3,523$2,010$820
42 years$15,660$9,604$5,671$3,251$1,824$725
43 years$15,124$9,151$5,322$3,001$1,656$640
44 years$14,614$8,722$4,995$2,771$1,503$566
45 years$14,128$8,318$4,690$2,559$1,364$500
46 years$13,665$7,935$4,405$2,364$1,239$442
47 years$13,223$7,572$4,139$2,184$1,125$391
48 years$12,800$7,229$3,889$2,018$1,022$345
49 years$12,396$6,903$3,656$1,865$928$305
50 years$12,009$6,594$3,437$1,724$843$270

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $12,300,000, adding $2,255 every year, while hoping to spend $27,729 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: 31/39/30 Blend
55$12,300,000$12,300,000$12,300,000$12,300,000
56$13,556,926$12,905,026$12,714,376$13,852,843
57$14,910,229$13,507,869$13,110,804$14,686,635
58$16,400,640$14,139,322$13,519,583$15,580,921
59$18,042,113$14,800,757$13,941,098$16,543,030
60$19,850,029$15,493,614$14,375,744$17,578,927
61$21,841,331$16,219,401$14,823,932$18,695,145
62$24,034,695$16,979,699$15,286,081$19,898,841
63$26,450,696$17,776,167$15,762,627$21,197,857
64$29,112,010$18,610,542$16,254,018$22,600,790
65$32,043,623$19,484,647$16,760,716$24,117,065
66$35,273,070$20,400,391$17,283,197$25,757,016
67$38,830,692$21,359,779$17,821,953$27,531,982
68$42,749,924$22,364,910$18,377,490$29,454,400
69$47,067,610$23,417,984$18,950,330$31,537,920
70$51,824,352$24,521,311$19,541,011$33,797,523
71$57,064,891$25,677,310$20,150,090$36,249,656
72$62,838,530$26,888,519$20,778,138$38,912,378
73$69,199,601$28,157,597$21,425,746$41,805,520
74$76,207,974$29,487,333$22,093,523$44,950,866
75$83,929,626$30,880,651$22,782,095$48,372,345
76$92,437,263$32,340,618$23,492,110$52,096,250
77$101,811,004$33,870,448$24,224,236$56,151,473
78$112,139,138$35,473,512$24,979,159$60,569,769
79$123,518,959$37,153,343$25,757,591$65,386,040
80$136,057,684$38,913,648$26,560,260$70,638,657
81$149,873,461$40,758,310$27,387,923$76,369,805
82$165,096,492$42,691,405$28,241,356$82,625,870
83$181,870,254$44,717,204$29,121,361$89,457,866
84$200,352,858$46,840,185$30,028,765$96,921,893
85$220,718,540$49,065,045$30,964,419$105,079,660
86$243,159,307$51,396,708$31,929,203$113,999,047
87$267,886,748$53,840,339$32,924,023$123,754,732
88$295,134,032$56,401,350$33,949,813$134,428,874
89$325,158,108$59,085,421$35,007,537$146,111,874
90$358,242,132$61,898,504$36,098,187$158,903,207
91$394,698,141$64,846,842$37,222,787$172,912,343
92$434,869,994$67,936,981$38,382,394$188,259,756
93$479,136,626$71,175,784$39,578,096$205,078,044
94$527,915,615$74,570,451$40,811,015$223,513,154
95$581,667,133$78,128,528$42,082,309$243,725,735
96$640,898,286$81,857,932$43,393,172$265,892,635
97$706,167,901$85,766,960$44,744,834$290,208,535
98$778,091,804$89,864,318$46,138,562$316,887,770
99$857,348,630$94,159,132$47,575,667$346,166,314
100$944,686,234$98,660,973$49,057,495$378,303,983