Can I retire at age 56 with 16,000,000?

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 $16,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$1,321,265$1,309,496$1,298,013$1,286,806$1,275,862$1,258,876
2 years$654,092$641,910$630,104$618,657$607,554$590,467
3 years$431,730$419,495$407,719$396,379$385,457$368,802
4 years$320,570$308,373$296,715$285,569$274,911$258,815
5 years$253,892$241,768$230,263$219,344$208,983$193,493
6 years$209,455$197,422$186,087$175,411$165,361$150,496
7 years$177,726$165,795$154,639$144,215$134,483$120,248
8 years$153,940$142,117$131,146$120,979$111,567$97,960
9 years$135,450$123,738$112,956$103,047$93,955$80,971
10 years$120,667$109,069$98,478$88,828$80,054$67,683
11 years$108,579$97,098$86,698$77,307$68,850$57,080
12 years$98,513$87,150$76,942$67,808$59,664$48,482
13 years$90,002$78,758$68,743$59,865$52,028$41,420
14 years$82,714$71,589$61,766$53,141$45,607$35,556
15 years$76,403$65,398$55,766$47,392$40,156$30,645
16 years$70,886$60,001$50,560$42,435$35,490$26,502
17 years$66,023$55,259$46,008$38,127$31,468$22,984
18 years$61,706$51,062$41,999$34,360$27,980$19,982
19 years$57,847$47,323$38,448$31,048$24,939$17,408
20 years$54,379$43,975$35,286$28,120$22,276$15,192
21 years$51,245$40,961$32,456$25,520$19,935$13,279
22 years$48,400$38,236$29,913$23,204$17,869$11,622
23 years$45,806$35,761$27,620$21,132$16,040$10,184
24 years$43,431$33,506$25,544$19,274$14,417$8,933
25 years$41,250$31,444$23,659$17,602$12,973$7,842
26 years$39,241$29,552$21,942$16,094$11,686$6,890
27 years$37,383$27,812$20,375$14,731$10,536$6,057
28 years$35,661$26,207$18,941$13,497$9,506$5,328
29 years$34,060$24,723$17,627$12,377$8,584$4,689
30 years$32,569$23,348$16,418$11,359$7,756$4,129
31 years$31,177$22,072$15,306$10,433$7,012$3,637
32 years$29,875$20,885$14,281$9,588$6,343$3,205
33 years$28,654$19,778$13,334$8,817$5,741$2,825
34 years$27,507$18,745$12,459$8,112$5,197$2,490
35 years$26,428$17,779$11,648$7,468$4,708$2,196
36 years$25,412$16,875$10,897$6,878$4,265$1,937
37 years$24,452$16,028$10,199$6,337$3,866$1,709
38 years$23,546$15,232$9,551$5,841$3,505$1,508
39 years$22,688$14,484$8,948$5,385$3,178$1,330
40 years$21,875$13,780$8,387$4,967$2,883$1,174
41 years$21,103$13,118$7,864$4,583$2,615$1,036
42 years$20,370$12,493$7,377$4,230$2,373$915
43 years$19,674$11,903$6,922$3,904$2,154$808
44 years$19,010$11,346$6,498$3,605$1,955$713
45 years$18,378$10,820$6,101$3,329$1,775$630
46 years$17,776$10,322$5,731$3,075$1,611$556
47 years$17,200$9,850$5,384$2,841$1,463$491
48 years$16,650$9,403$5,059$2,625$1,329$434
49 years$16,125$8,979$4,755$2,426$1,207$383
50 years$15,622$8,577$4,471$2,243$1,096$338

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,000,000, adding $6,918 every year, while hoping to spend $34,254 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: 71/17/12 Blend
55$16,000,000$16,000,000$16,000,000$16,000,000
56$17,639,136$16,791,136$16,543,136$18,846,651
57$19,401,882$17,577,456$17,060,885$20,433,988
58$21,343,280$18,401,157$17,594,831$22,166,185
59$23,481,516$19,264,035$18,145,479$24,061,453
60$25,836,631$20,167,973$18,713,353$26,135,872
61$28,430,707$21,114,944$19,298,991$28,407,140
62$31,288,080$22,107,017$19,902,947$30,894,735
63$34,435,564$23,146,361$20,525,796$33,620,095
64$37,902,709$24,235,250$21,168,127$36,606,819
65$41,722,076$25,376,067$21,830,550$39,880,885
66$45,929,547$26,571,314$22,513,693$43,470,891
67$50,564,662$27,823,610$23,218,203$47,408,322
68$55,670,994$29,135,703$23,944,749$51,727,843
69$61,296,557$30,510,474$24,694,020$56,467,620
70$67,494,261$31,950,943$25,466,725$61,669,678
71$74,322,413$33,460,277$26,263,598$67,380,295
72$81,845,265$35,041,795$27,085,393$73,650,425
73$90,133,619$36,698,980$27,932,891$80,536,187
74$99,265,499$38,435,482$28,806,895$88,099,377
75$109,326,887$40,255,127$29,708,232$96,408,054
76$120,412,529$42,161,928$30,637,758$105,537,172
77$132,626,838$44,160,093$31,596,353$115,569,284
78$146,084,871$46,254,033$32,584,927$126,595,315
79$160,913,422$48,448,375$33,604,415$138,715,410
80$177,252,213$50,747,968$34,655,786$152,039,877
81$195,255,218$53,157,897$35,740,034$166,690,218
82$215,092,113$55,683,497$36,858,188$182,800,270
83$236,949,879$58,330,359$38,011,307$200,517,459
84$261,034,565$61,104,345$39,200,485$220,004,184
85$287,573,237$64,011,604$40,426,847$241,439,342
86$316,816,118$67,058,583$41,691,557$265,020,005
87$349,038,950$70,252,042$42,995,813$290,963,276
88$384,545,600$73,599,069$44,340,850$319,508,323
89$423,670,926$77,107,099$45,727,943$350,918,630
90$466,783,938$80,783,924$47,158,407$385,484,469
91$514,291,283$84,637,719$48,633,596$423,525,637
92$566,641,081$88,677,054$50,154,909$465,394,453
93$624,327,159$92,910,918$51,723,786$511,479,079
94$687,893,711$97,348,735$53,341,714$562,207,169
95$757,940,434$102,000,387$55,010,227$618,049,891
96$835,128,192$106,876,241$56,730,903$679,526,363
97$920,185,254$111,987,162$58,505,375$747,208,536
98$1,013,914,166$117,344,550$60,335,321$821,726,581
99$1,117,199,333$122,960,355$62,222,476$903,774,820
100$1,231,015,364$128,847,111$64,168,628$994,118,263