Can I retire at age 56 with 14,800,000?

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 $14,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$1,222,170$1,211,284$1,200,662$1,190,296$1,180,173$1,148,847
2 years$605,035$593,767$582,846$572,257$561,987$530,645
3 years$399,350$388,033$377,140$366,651$356,548$326,171
4 years$296,528$285,245$274,461$264,151$254,293$225,114
5 years$234,850$223,636$212,993$202,894$193,309$165,410
6 years$193,746$182,615$172,130$162,256$152,959$126,366
7 years$164,396$153,360$143,041$133,399$124,397$99,111
8 years$142,395$131,458$121,310$111,905$103,199$79,208
9 years$125,291$114,458$104,484$95,319$86,909$64,191
10 years$111,617$100,889$91,092$82,165$74,050$52,578
11 years$100,435$89,816$80,196$71,509$63,686$43,425
12 years$91,125$80,614$71,172$62,723$55,189$36,104
13 years$83,252$72,851$63,587$55,375$48,126$30,176
14 years$76,510$66,220$57,133$49,155$42,187$25,331
15 years$70,673$60,493$51,584$43,838$37,144$21,340
16 years$65,570$55,501$46,768$39,252$32,828$18,030
17 years$61,072$51,114$42,557$35,268$29,108$15,270
18 years$57,078$47,232$38,849$31,783$25,881$12,960
19 years$53,509$43,774$35,565$28,719$23,069$11,018
20 years$50,301$40,677$32,639$26,011$20,605$9,380
21 years$47,402$37,889$30,022$23,606$18,439$7,995
22 years$44,770$35,368$27,670$21,463$16,528$6,822
23 years$42,370$33,079$25,548$19,547$14,837$5,826
24 years$40,174$30,993$23,628$17,828$13,336$4,979
25 years$38,157$29,085$21,884$16,282$12,000$4,258
26 years$36,298$27,336$20,296$14,887$10,809$3,644
27 years$34,579$25,726$18,847$13,627$9,745$3,119
28 years$32,986$24,241$17,521$12,485$8,793$2,671
29 years$31,506$22,869$16,305$11,449$7,940$2,288
30 years$30,126$21,597$15,187$10,507$7,175$1,961
31 years$28,839$20,417$14,158$9,650$6,486$1,681
32 years$27,634$19,318$13,210$8,869$5,867$1,441
33 years$26,505$18,295$12,334$8,155$5,310$1,235
34 years$25,444$17,339$11,524$7,504$4,808$1,059
35 years$24,446$16,446$10,775$6,908$4,354$909
36 years$23,506$15,610$10,079$6,362$3,945$779
37 years$22,618$14,826$9,434$5,861$3,576$669
38 years$21,780$14,090$8,835$5,403$3,242$574
39 years$20,986$13,398$8,277$4,982$2,940$492
40 years$20,234$12,747$7,758$4,595$2,666$422
41 years$19,520$12,134$7,275$4,239$2,419$362
42 years$18,843$11,556$6,824$3,912$2,195$311
43 years$18,198$11,010$6,403$3,612$1,992$267
44 years$17,585$10,495$6,011$3,335$1,808$229
45 years$17,000$10,008$5,644$3,080$1,642$197
46 years$16,442$9,547$5,301$2,845$1,491$169
47 years$15,910$9,111$4,980$2,628$1,353$145
48 years$15,402$8,698$4,680$2,429$1,229$124
49 years$14,915$8,306$4,399$2,244$1,116$107
50 years$14,450$7,934$4,135$2,075$1,014$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $14,800,000, adding $3,115 every year, while hoping to spend $26,756 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: 58/24/18 Blend
55$14,800,000$14,800,000$14,800,000$14,800,000
56$16,312,813$15,528,413$15,299,013$17,181,759
57$17,948,252$16,260,837$15,783,062$18,503,947
58$19,749,609$17,028,253$16,282,430$19,941,473
59$21,733,779$17,832,348$16,797,601$21,508,022
60$23,919,380$18,674,889$17,329,077$23,216,033
61$26,326,929$19,557,730$17,877,372$25,079,181
62$28,979,032$20,482,815$18,443,021$27,112,505
63$31,900,603$21,452,183$19,026,572$29,332,543
64$35,119,093$22,467,969$19,628,591$31,757,484
65$38,664,756$23,532,415$20,249,664$34,407,339
66$42,570,927$24,647,869$20,890,393$37,304,117
67$46,874,342$25,816,795$21,551,402$40,472,035
68$51,615,482$27,041,775$22,233,331$43,937,737
69$56,838,958$28,325,518$22,936,844$47,730,540
70$62,593,926$29,670,864$23,662,623$51,882,707
71$68,934,560$31,080,789$24,411,374$56,429,742
72$75,920,554$32,558,416$25,183,824$61,410,723
73$83,617,691$34,107,019$25,980,723$66,868,659
74$92,098,463$35,730,031$26,802,845$72,850,891
75$101,442,755$37,431,051$27,650,989$79,409,535
76$111,738,597$39,213,854$28,525,978$86,601,959
77$123,082,999$41,082,398$29,428,664$94,491,322
78$135,582,862$43,040,833$30,359,921$103,147,160
79$149,355,992$45,093,511$31,320,656$112,646,034
80$164,532,206$47,244,996$32,311,801$123,072,240
81$181,254,564$49,500,074$33,334,320$134,518,601
82$199,680,715$51,863,763$34,389,205$147,087,327
83$219,984,387$54,341,326$35,477,481$160,890,975
84$242,357,024$56,938,281$36,600,207$176,053,495
85$267,009,598$59,660,415$37,758,472$192,711,390
86$294,174,599$62,513,796$38,953,402$211,014,996
87$324,108,224$65,504,789$40,186,157$231,129,884
88$357,092,806$68,640,066$41,457,937$253,238,411
89$393,439,470$71,926,627$42,769,975$277,541,428
90$433,491,074$75,371,810$44,123,548$304,260,162
91$477,625,446$78,983,312$45,519,969$333,638,287
92$526,258,951$82,769,203$46,960,597$365,944,211
93$579,850,417$86,737,947$48,446,830$401,473,593
94$638,905,474$90,898,421$49,980,114$440,552,111
95$703,981,322$95,259,933$51,561,937$483,538,529
96$775,691,993$99,832,246$53,193,838$530,828,053
97$854,714,146$104,625,595$54,877,401$582,856,050
98$941,793,458$109,650,719$56,614,263$640,102,136
99$1,037,751,661$114,918,875$58,406,112$703,094,676
100$1,143,494,303$120,441,872$60,254,688$772,415,757