Can I retire at age 56 with 12,400,000?

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 $12,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$1,023,980$1,014,859$1,005,960$997,275$988,793$949,562
2 years$506,921$497,480$488,330$479,459$470,854$431,815
3 years$334,590$325,109$315,982$307,194$298,729$261,112
4 years$248,442$238,989$229,954$221,316$213,056$177,148
5 years$196,766$187,371$178,454$169,992$161,962$127,853
6 years$162,327$153,002$144,217$135,944$128,155$95,867
7 years$137,738$128,491$119,845$111,767$104,224$73,746
8 years$119,304$110,140$101,638$93,759$86,464$57,765
9 years$104,974$95,897$87,541$79,861$72,815$45,851
10 years$93,517$84,529$76,320$68,841$62,042$36,761
11 years$84,149$75,251$67,191$59,913$53,358$29,701
12 years$76,348$67,541$59,630$52,551$46,239$24,141
13 years$69,752$61,037$53,276$46,395$40,322$19,717
14 years$64,103$55,481$47,869$41,184$35,346$16,164
15 years$59,212$50,683$43,219$36,729$31,121$13,293
16 years$54,937$46,501$39,184$32,887$27,505$10,959
17 years$51,168$42,826$35,656$29,549$24,388$9,053
18 years$47,822$39,573$32,549$26,629$21,684$7,491
19 years$44,832$36,676$29,797$24,062$19,328$6,207
20 years$42,144$34,081$27,347$21,793$17,264$5,148
21 years$39,715$31,745$25,154$19,778$15,449$4,275
22 years$37,510$29,633$23,183$17,983$13,848$3,552
23 years$35,499$27,715$21,405$16,377$12,431$2,953
24 years$33,659$25,967$19,796$14,937$11,173$2,457
25 years$31,969$24,369$18,335$13,641$10,054$2,044
26 years$30,411$22,903$17,005$12,473$9,056$1,702
27 years$28,972$21,554$15,791$11,417$8,165$1,417
28 years$27,637$20,310$14,680$10,460$7,368$1,181
29 years$26,397$19,160$13,661$9,592$6,653$984
30 years$25,241$18,095$12,724$8,803$6,011$820
31 years$24,162$17,106$11,863$8,085$5,435$683
32 years$23,153$16,186$11,068$7,431$4,916$569
33 years$22,207$15,328$10,334$6,833$4,449$475
34 years$21,318$14,527$9,656$6,287$4,028$396
35 years$20,482$13,779$9,027$5,787$3,648$330
36 years$19,694$13,078$8,445$5,330$3,306$275
37 years$18,951$12,421$7,904$4,911$2,996$229
38 years$18,248$11,805$7,402$4,527$2,716$191
39 years$17,583$11,225$6,935$4,174$2,463$160
40 years$16,953$10,680$6,500$3,850$2,234$133
41 years$16,355$10,166$6,095$3,552$2,027$111
42 years$15,787$9,682$5,717$3,278$1,839$93
43 years$15,247$9,225$5,365$3,026$1,669$77
44 years$14,733$8,793$5,036$2,794$1,515$64
45 years$14,243$8,385$4,729$2,580$1,375$54
46 years$13,776$7,999$4,441$2,383$1,249$45
47 years$13,330$7,634$4,172$2,202$1,134$37
48 years$12,904$7,287$3,921$2,035$1,030$31
49 years$12,497$6,959$3,685$1,880$935$26
50 years$12,107$6,648$3,465$1,738$850$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $12,400,000, adding $2,570 every year, while hoping to spend $32,714 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: 36/45/19 Blend
55$12,400,000$12,400,000$12,400,000$12,400,000
56$13,667,451$13,010,251$12,818,051$14,080,484
57$15,026,724$13,612,946$13,212,648$14,984,162
58$16,523,545$14,244,076$13,619,368$15,955,843
59$18,171,912$14,905,001$14,038,582$17,004,165
60$19,987,246$15,597,145$14,470,673$18,135,994
61$21,986,540$16,322,000$14,916,036$19,358,854
62$24,188,521$17,081,132$15,375,077$20,680,993
63$26,613,824$17,876,181$15,848,216$22,111,453
64$29,285,187$18,708,867$16,335,884$23,660,153
65$32,227,667$19,580,992$16,838,527$25,337,970
66$35,468,874$20,494,446$17,356,603$27,156,841
67$39,039,235$21,451,210$17,890,585$29,129,865
68$42,972,278$22,453,360$18,440,960$31,271,419
69$47,304,949$23,503,073$19,008,231$33,597,286
70$52,077,962$24,602,632$19,592,915$36,124,797
71$57,336,181$25,754,428$20,195,544$38,872,985
72$63,129,046$26,960,969$20,816,669$41,862,756
73$69,511,037$28,224,885$21,456,856$45,117,075
74$76,542,190$29,548,932$22,116,689$48,661,176
75$84,288,663$30,936,000$22,796,768$52,522,787
76$92,823,361$32,389,117$23,497,713$56,732,382
77$102,226,621$33,911,461$24,220,164$61,323,459
78$112,586,975$35,506,362$24,964,778$66,332,840
79$124,001,982$37,177,309$25,732,233$71,801,010
80$136,579,150$38,927,963$26,523,230$77,772,486
81$150,436,952$40,762,162$27,338,486$84,296,221
82$165,705,942$42,683,929$28,178,746$91,426,052
83$182,529,988$44,697,481$29,044,774$99,221,198
84$201,067,631$46,807,242$29,937,359$107,746,796
85$221,493,580$49,017,848$30,857,311$117,074,507
86$244,000,364$51,334,161$31,805,469$127,283,169
87$268,800,144$53,761,278$32,782,695$138,459,527
88$296,126,721$56,304,543$33,789,879$150,699,032
89$326,237,742$58,969,561$34,827,935$164,106,722
90$359,417,129$61,762,207$35,897,808$178,798,195
91$395,977,762$64,688,641$37,000,471$194,900,676
92$436,264,433$67,755,323$38,136,925$212,554,196
93$480,657,097$70,969,026$39,308,205$231,912,893
94$529,574,465$74,336,852$40,515,373$253,146,437
95$583,477,950$77,866,248$41,759,528$276,441,612
96$642,876,027$81,565,020$43,041,798$302,004,048
97$708,329,033$85,441,358$44,363,350$330,060,135
98$780,454,455$89,503,844$45,725,382$360,859,132
99$859,932,760$93,761,483$47,129,133$394,675,485
100$947,513,817$98,223,712$48,575,875$431,811,390