Can I retire at age 56 with 16,100,000?

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 $16,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$1,329,523$1,317,680$1,306,126$1,294,849$1,283,837$1,253,819
2 years$658,180$645,922$634,042$622,523$611,351$581,279
3 years$434,428$422,117$410,267$398,857$387,866$358,680
4 years$322,574$310,301$298,569$287,354$276,629$248,553
5 years$255,479$243,280$231,702$220,715$210,289$183,402
6 years$210,764$198,656$187,250$176,508$166,395$140,724
7 years$178,837$166,831$155,605$145,117$135,323$110,873
8 years$154,902$143,005$131,966$121,735$112,264$89,024
9 years$136,297$124,512$113,662$103,691$94,542$72,495
10 years$121,421$109,751$99,093$89,383$80,555$59,676
11 years$109,257$97,705$87,240$77,790$69,280$49,540
12 years$99,129$87,694$77,423$68,232$60,036$41,404
13 years$90,565$79,250$69,173$60,239$52,353$34,792
14 years$83,231$72,036$62,152$53,473$45,892$29,367
15 years$76,880$65,806$56,115$47,689$40,407$24,878
16 years$71,329$60,376$50,876$42,700$35,712$21,140
17 years$66,436$55,604$46,295$38,366$31,665$18,009
18 years$62,092$51,381$42,262$34,575$28,155$15,374
19 years$58,209$47,619$38,689$31,242$25,095$13,149
20 years$54,719$44,250$35,506$28,295$22,415$11,262
21 years$51,565$41,217$32,659$25,680$20,059$9,659
22 years$48,702$38,475$30,100$23,349$17,980$8,293
23 years$46,092$35,985$27,792$21,264$16,140$7,127
24 years$43,703$33,715$25,703$19,394$14,507$6,130
25 years$41,508$31,640$23,806$17,712$13,054$5,276
26 years$39,486$29,737$22,079$16,195$11,759$4,543
27 years$37,616$27,986$20,502$14,824$10,601$3,915
28 years$35,883$26,371$19,060$13,582$9,566$3,374
29 years$34,273$24,878$17,737$12,455$8,638$2,910
30 years$32,773$23,494$16,521$11,430$7,805$2,510
31 years$31,372$22,210$15,402$10,498$7,056$2,165
32 years$30,061$21,015$14,370$9,648$6,383$1,869
33 years$28,833$19,902$13,418$8,872$5,777$1,613
34 years$27,679$18,862$12,537$8,163$5,230$1,393
35 years$26,593$17,891$11,721$7,514$4,737$1,203
36 years$25,571$16,981$10,965$6,921$4,292$1,039
37 years$24,605$16,128$10,263$6,376$3,890$897
38 years$23,693$15,327$9,611$5,877$3,527$775
39 years$22,829$14,575$9,004$5,419$3,198$669
40 years$22,011$13,867$8,440$4,998$2,901$578
41 years$21,235$13,200$7,914$4,612$2,632$500
42 years$20,498$12,571$7,423$4,256$2,388$432
43 years$19,797$11,978$6,966$3,929$2,167$373
44 years$19,129$11,417$6,539$3,628$1,967$322
45 years$18,493$10,887$6,139$3,350$1,786$278
46 years$17,887$10,386$5,766$3,095$1,621$241
47 years$17,308$9,911$5,417$2,859$1,472$208
48 years$16,754$9,462$5,091$2,642$1,337$180
49 years$16,225$9,035$4,785$2,442$1,214$155
50 years$15,719$8,631$4,499$2,257$1,103$134

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,100,000, adding $6,880 every year, while hoping to spend $20,754 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: 81/10/9 Blend
55$16,100,000$16,100,000$16,100,000$16,100,000
56$17,749,297$16,895,997$16,646,447$19,163,494
57$19,537,643$17,701,818$17,182,021$20,896,796
58$21,507,705$18,546,430$17,734,841$22,795,396
59$23,677,995$19,431,710$18,305,463$24,878,648
60$26,068,916$20,359,628$18,894,460$27,165,023
61$28,702,946$21,332,251$19,502,426$29,674,859
62$31,604,861$22,351,746$20,129,971$32,430,553
63$34,801,958$23,420,383$20,777,727$35,456,770
64$38,324,322$24,540,545$21,446,344$38,780,675
65$42,205,102$25,714,731$22,136,496$42,432,182
66$46,480,831$26,945,561$22,848,877$46,444,240
67$51,191,764$28,235,782$23,584,203$50,853,136
68$56,382,264$29,588,276$24,343,214$55,698,842
69$62,101,216$31,006,063$25,126,673$61,025,382
70$68,402,492$32,492,312$25,935,369$66,881,247
71$75,345,458$34,050,347$26,770,115$73,319,853
72$82,995,532$35,683,651$27,631,752$80,400,038
73$91,424,807$37,395,880$28,521,145$88,186,617
74$100,712,724$39,190,866$29,439,191$96,750,987
75$110,946,831$41,072,627$30,386,813$106,171,802
76$122,223,601$43,045,379$31,364,964$116,535,707
77$134,649,348$45,113,542$32,374,630$127,938,155
78$148,341,228$47,281,752$33,416,826$140,484,303
79$163,428,345$49,554,870$34,492,602$154,290,000
80$180,052,972$51,937,994$35,603,040$169,482,876
81$198,371,891$54,436,472$36,749,258$186,203,544
82$218,557,876$57,055,911$37,932,410$204,606,920
83$240,801,321$59,802,192$39,153,687$224,863,683
84$265,312,039$62,681,483$40,414,319$247,161,876
85$292,321,244$65,700,252$41,715,576$271,708,683
86$322,083,729$68,865,284$43,058,766$298,732,372
87$354,880,279$72,183,692$44,445,244$328,484,447
88$391,020,313$75,662,938$45,876,405$361,242,016
89$430,844,811$79,310,848$47,353,691$397,310,400
90$474,729,531$83,135,629$48,878,589$437,026,007
91$523,088,557$87,145,889$50,452,636$480,759,502
92$576,378,207$91,350,655$52,077,416$528,919,299
93$635,101,342$95,759,394$53,754,567$581,955,407
94$699,812,112$100,382,038$55,485,779$640,363,671
95$771,121,189$105,229,000$57,272,794$704,690,444
96$849,701,532$110,311,202$59,117,414$775,537,734
97$936,294,738$115,640,101$61,021,497$853,568,883
98$1,031,718,046$121,227,711$62,986,962$939,514,812
99$1,136,872,051$127,086,633$65,015,790$1,034,180,917
100$1,252,749,206$133,230,083$67,110,024$1,138,454,657