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

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 $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%16.9%
1 years$1,321,265$1,309,496$1,298,013$1,286,806$1,275,862$1,239,992
2 years$654,092$641,910$630,104$618,657$607,554$571,689
3 years$431,730$419,495$407,719$396,379$385,457$350,720
4 years$320,570$308,373$296,715$285,569$274,911$241,569
5 years$253,892$241,768$230,263$219,344$208,983$177,128
6 years$209,455$197,422$186,087$175,411$165,361$135,022
7 years$177,726$165,795$154,639$144,215$134,483$105,660
8 years$153,940$142,117$131,146$120,979$111,567$84,244
9 years$135,450$123,738$112,956$103,047$93,955$68,107
10 years$120,667$109,069$98,478$88,828$80,054$55,646
11 years$108,579$97,098$86,698$77,307$68,850$45,842
12 years$98,513$87,150$76,942$67,808$59,664$38,012
13 years$90,002$78,758$68,743$59,865$52,028$31,686
14 years$82,714$71,589$61,766$53,141$45,607$26,526
15 years$76,403$65,398$55,766$47,392$40,156$22,283
16 years$70,886$60,001$50,560$42,435$35,490$18,773
17 years$66,023$55,259$46,008$38,127$31,468$15,854
18 years$61,706$51,062$41,999$34,360$27,980$13,415
19 years$57,847$47,323$38,448$31,048$24,939$11,370
20 years$54,379$43,975$35,286$28,120$22,276$9,651
21 years$51,245$40,961$32,456$25,520$19,935$8,201
22 years$48,400$38,236$29,913$23,204$17,869$6,976
23 years$45,806$35,761$27,620$21,132$16,040$5,939
24 years$43,431$33,506$25,544$19,274$14,417$5,060
25 years$41,250$31,444$23,659$17,602$12,973$4,313
26 years$39,241$29,552$21,942$16,094$11,686$3,679
27 years$37,383$27,812$20,375$14,731$10,536$3,139
28 years$35,661$26,207$18,941$13,497$9,506$2,679
29 years$34,060$24,723$17,627$12,377$8,584$2,288
30 years$32,569$23,348$16,418$11,359$7,756$1,954
31 years$31,177$22,072$15,306$10,433$7,012$1,669
32 years$29,875$20,885$14,281$9,588$6,343$1,426
33 years$28,654$19,778$13,334$8,817$5,741$1,219
34 years$27,507$18,745$12,459$8,112$5,197$1,042
35 years$26,428$17,779$11,648$7,468$4,708$891
36 years$25,412$16,875$10,897$6,878$4,265$761
37 years$24,452$16,028$10,199$6,337$3,866$651
38 years$23,546$15,232$9,551$5,841$3,505$557
39 years$22,688$14,484$8,948$5,385$3,178$476
40 years$21,875$13,780$8,387$4,967$2,883$407
41 years$21,103$13,118$7,864$4,583$2,615$348
42 years$20,370$12,493$7,377$4,230$2,373$298
43 years$19,674$11,903$6,922$3,904$2,154$255
44 years$19,010$11,346$6,498$3,605$1,955$218
45 years$18,378$10,820$6,101$3,329$1,775$186
46 years$17,776$10,322$5,731$3,075$1,611$159
47 years$17,200$9,850$5,384$2,841$1,463$136
48 years$16,650$9,403$5,059$2,625$1,329$117
49 years$16,125$8,979$4,755$2,426$1,207$100
50 years$15,622$8,577$4,471$2,243$1,096$85

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 $3,919 every year, while hoping to spend $27,480 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: 52/29/19 Blend
55$16,000,000$16,000,000$16,000,000$16,000,000
56$17,636,042$16,788,042$16,540,042$18,460,836
57$19,405,680$17,581,418$17,064,895$19,821,775
58$21,354,900$18,412,748$17,606,410$21,298,057
59$23,501,990$19,283,863$18,165,115$22,903,208
60$25,867,104$20,196,683$18,741,557$24,649,466
61$28,472,448$21,153,220$19,336,299$26,550,282
62$31,342,495$22,155,585$19,949,922$28,620,434
63$34,504,211$23,205,990$20,583,026$30,876,166
64$37,987,313$24,306,756$21,236,229$33,335,334
65$41,824,546$25,460,315$21,910,171$36,017,569
66$46,051,997$26,669,217$22,605,509$38,944,455
67$50,709,431$27,936,139$23,322,923$42,139,726
68$55,840,667$29,263,884$24,063,115$45,629,483
69$61,493,994$30,655,392$24,826,808$49,442,434
70$67,722,623$32,113,749$25,614,748$53,610,157
71$74,585,195$33,642,186$26,427,706$58,167,389
72$82,146,327$35,244,096$27,266,476$63,152,346
73$90,477,227$36,923,032$28,131,879$68,607,078
74$99,656,367$38,682,723$29,024,760$74,577,849
75$109,770,219$40,527,079$29,945,991$81,115,575
76$120,914,074$42,460,198$30,896,475$88,276,284
77$133,192,942$44,486,381$31,877,139$96,121,642
78$146,722,542$46,610,133$32,888,943$104,719,520
79$161,630,395$48,836,183$33,932,876$114,144,624
80$178,057,026$51,169,487$35,009,959$124,479,191
81$196,157,294$53,615,244$36,121,244$135,813,748
82$216,101,851$56,178,903$37,267,818$148,247,958
83$238,078,753$58,866,183$38,450,803$161,891,543
84$262,295,236$61,683,076$39,671,355$176,865,309
85$288,979,672$64,635,869$40,930,668$193,302,269
86$318,383,726$67,731,154$42,229,973$211,348,884
87$350,784,730$70,975,844$43,570,540$231,166,430
88$386,488,301$74,377,188$44,953,682$252,932,499
89$425,831,226$77,942,790$46,380,749$276,842,665
90$469,184,646$81,680,621$47,853,139$303,112,303
91$516,957,552$85,599,043$49,372,291$331,978,609
92$569,600,650$89,706,824$50,939,690$363,702,815
93$627,610,617$94,013,159$52,556,871$398,572,635
94$691,534,788$98,527,692$54,225,414$436,904,958
95$761,976,322$103,260,535$55,946,951$479,048,817
96$839,599,901$108,222,295$57,723,168$525,388,656
97$925,137,997$113,424,094$59,555,800$576,347,938
98$1,019,397,794$118,877,596$61,446,641$632,393,111
99$1,123,268,806$124,595,035$63,397,541$694,037,989
100$1,237,731,273$130,589,241$65,410,407$761,848,564