Can I retire at age 56 with 14,700,000?

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 $14,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$1,213,912$1,203,099$1,192,550$1,182,253$1,172,199$1,144,326
2 years$600,947$589,755$578,908$568,391$558,190$530,271
3 years$396,652$385,411$374,592$364,174$354,139$327,047
4 years$294,524$283,318$272,607$262,367$252,575$226,518
5 years$233,263$222,125$211,554$201,523$192,003$167,055
6 years$192,436$181,382$170,967$161,159$151,926$128,111
7 years$163,286$152,324$142,074$132,498$123,556$100,879
8 years$141,433$130,570$120,490$111,149$102,502$80,952
9 years$124,445$113,684$103,778$94,674$86,321$65,882
10 years$110,862$100,207$90,476$81,610$73,550$54,198
11 years$99,757$89,209$79,654$71,025$63,256$44,964
12 years$90,509$80,069$70,691$62,299$54,816$37,555
13 years$82,690$72,359$63,158$55,001$47,801$31,537
14 years$75,993$65,772$56,747$48,823$41,902$26,601
15 years$70,195$60,084$51,235$43,542$36,894$22,519
16 years$65,127$55,126$46,452$38,987$32,607$19,122
17 years$60,659$50,769$42,270$35,029$28,911$16,278
18 years$56,692$46,913$38,587$31,569$25,707$13,886
19 years$53,147$43,478$35,324$28,525$22,913$11,867
20 years$49,961$40,402$32,419$25,835$20,466$10,157
21 years$47,081$37,633$29,819$23,447$18,315$8,705
22 years$44,467$35,129$27,483$21,318$16,417$7,468
23 years$42,084$32,856$25,376$19,415$14,737$6,413
24 years$39,903$30,784$23,468$17,708$13,246$5,511
25 years$37,899$28,889$21,736$16,172$11,919$4,739
26 years$36,052$27,151$20,159$14,787$10,736$4,078
27 years$34,345$25,552$18,720$13,535$9,680$3,511
28 years$32,763$24,078$17,402$12,401$8,734$3,024
29 years$31,293$22,714$16,194$11,372$7,887$2,605
30 years$29,923$21,451$15,084$10,436$7,126$2,245
31 years$28,644$20,279$14,063$9,585$6,443$1,936
32 years$27,447$19,188$13,121$8,809$5,828$1,669
33 years$26,326$18,171$12,251$8,100$5,274$1,440
34 years$25,272$17,222$11,447$7,453$4,775$1,242
35 years$24,281$16,335$10,702$6,861$4,325$1,071
36 years$23,347$15,504$10,011$6,319$3,919$925
37 years$22,466$14,725$9,370$5,822$3,552$798
38 years$21,633$13,994$8,775$5,366$3,220$689
39 years$20,844$13,307$8,221$4,948$2,920$594
40 years$20,097$12,661$7,706$4,564$2,648$513
41 years$19,388$12,052$7,225$4,211$2,403$443
42 years$18,715$11,478$6,778$3,886$2,180$382
43 years$18,075$10,936$6,360$3,587$1,979$330
44 years$17,466$10,424$5,970$3,312$1,796$285
45 years$16,885$9,941$5,606$3,059$1,631$246
46 years$16,331$9,483$5,265$2,825$1,480$212
47 years$15,803$9,050$4,946$2,610$1,344$183
48 years$15,298$8,639$4,648$2,412$1,221$158
49 years$14,815$8,250$4,369$2,229$1,109$137
50 years$14,352$7,881$4,107$2,060$1,007$118

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $14,700,000, adding $2,377 every year, while hoping to spend $36,893 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: 73/9/18 Blend
55$14,700,000$14,700,000$14,700,000$14,700,000
56$16,201,852$15,422,752$15,194,902$17,316,303
57$17,815,187$16,139,213$15,664,677$18,772,741
58$19,591,846$16,889,544$16,148,954$20,363,025
59$21,548,448$17,675,366$16,648,178$22,104,202
60$23,703,308$18,498,377$17,162,810$24,011,250
61$26,076,607$19,360,359$17,693,326$26,100,661
62$28,690,583$20,263,179$18,240,214$28,390,592
63$31,569,740$21,208,792$18,803,979$30,901,034
64$34,741,082$22,199,251$19,385,141$33,654,001
65$38,234,364$23,236,707$19,984,235$36,673,733
66$42,082,377$24,323,413$20,601,814$39,986,924
67$46,321,252$25,461,733$21,238,448$43,622,970
68$50,990,807$26,654,144$21,894,722$47,614,245
69$56,134,916$27,903,245$22,571,243$51,996,404
70$61,801,931$29,211,757$23,268,633$56,808,715
71$68,045,131$30,582,536$23,987,535$62,094,429
72$74,923,229$32,018,575$24,728,612$67,901,185
73$82,500,923$33,523,010$25,492,545$74,281,452
74$90,849,512$35,099,132$26,280,040$81,293,029
75$100,047,561$36,750,388$27,091,821$88,999,581
76$110,181,651$38,480,396$27,928,635$97,471,236
77$121,347,188$40,292,945$28,791,254$106,785,250
78$133,649,312$42,192,009$29,680,471$117,026,723
79$147,203,880$44,181,756$30,597,105$128,289,406
80$162,138,568$46,266,554$31,542,000$140,676,577
81$178,594,071$48,450,984$32,516,026$154,302,015
82$196,725,432$50,739,848$33,520,079$169,291,067
83$216,703,507$53,138,182$34,555,083$185,781,825
84$238,716,576$55,651,264$35,621,989$203,926,431
85$262,972,122$58,284,631$36,721,781$223,892,500
86$289,698,787$61,044,087$37,855,469$245,864,703
87$319,148,532$63,935,716$39,024,096$270,046,502
88$351,599,016$66,965,899$40,228,737$296,662,063
89$387,356,215$70,141,328$41,470,499$325,958,371
90$426,757,312$73,469,016$42,750,524$358,207,552
91$470,173,881$76,956,321$44,069,989$393,709,433
92$518,015,390$80,610,954$45,430,108$432,794,372
93$570,733,072$84,441,003$46,832,128$475,826,362
94$628,824,182$88,454,948$48,277,340$523,206,465
95$692,836,688$92,661,681$49,767,072$575,376,590
96$763,374,453$97,070,525$51,302,691$632,823,651
97$841,102,925$101,691,259$52,885,609$696,084,163
98$926,755,425$106,534,133$54,517,279$765,749,292
99$1,021,140,071$111,609,898$56,199,200$842,470,429
100$1,125,147,402$116,929,826$57,932,917$926,965,331