Can I retire at age 56 with 16,200,000?

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 $16,200,000?

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$1,337,781$1,325,865$1,314,239$1,302,891$1,291,811$1,255,492
2 years$662,268$649,934$637,980$626,390$615,148$578,835
3 years$437,126$424,739$412,815$401,334$390,275$355,104
4 years$324,577$312,228$300,424$289,139$278,348$244,589
5 years$257,066$244,791$233,141$222,086$211,595$179,342
6 years$212,073$199,890$188,413$177,604$167,428$136,709
7 years$179,948$167,867$156,572$146,018$136,164$106,981
8 years$155,865$143,893$132,785$122,491$112,961$85,297
9 years$137,143$125,285$114,368$104,335$95,130$68,958
10 years$122,175$110,433$99,709$89,938$81,055$56,342
11 years$109,936$98,312$87,782$78,273$69,710$46,415
12 years$99,744$88,239$77,904$68,656$60,409$38,488
13 years$91,127$79,742$69,602$60,613$52,678$32,082
14 years$83,748$72,484$62,538$53,805$46,177$26,857
15 years$77,358$66,215$56,463$47,985$40,658$22,562
16 years$71,772$60,751$51,192$42,965$35,934$19,008
17 years$66,849$55,950$46,583$38,604$31,861$16,052
18 years$62,477$51,700$42,524$34,790$28,330$13,583
19 years$58,570$47,915$38,929$31,436$25,251$11,513
20 years$55,059$44,525$35,727$28,471$22,555$9,772
21 years$51,886$41,473$32,862$25,839$20,184$8,304
22 years$49,005$38,714$30,287$23,494$18,092$7,063
23 years$46,378$36,208$27,965$21,396$16,240$6,013
24 years$43,974$33,925$25,863$19,515$14,597$5,123
25 years$41,766$31,837$23,954$17,822$13,135$4,367
26 years$39,731$29,921$22,216$16,295$11,832$3,725
27 years$37,850$28,159$20,630$14,916$10,667$3,178
28 years$36,106$26,534$19,178$13,666$9,625$2,713
29 years$34,486$25,032$17,847$12,532$8,691$2,316
30 years$32,976$23,640$16,624$11,501$7,853$1,978
31 years$31,567$22,348$15,498$10,563$7,100$1,690
32 years$30,248$21,146$14,460$9,708$6,423$1,444
33 years$29,012$20,025$13,501$8,927$5,812$1,234
34 years$27,851$18,979$12,615$8,214$5,262$1,055
35 years$26,759$18,002$11,794$7,561$4,766$902
36 years$25,729$17,086$11,033$6,964$4,319$771
37 years$24,758$16,228$10,327$6,416$3,914$659
38 years$23,840$15,422$9,670$5,914$3,549$564
39 years$22,971$14,665$9,060$5,453$3,218$482
40 years$22,148$13,953$8,492$5,029$2,919$412
41 years$21,367$13,282$7,963$4,640$2,648$352
42 years$20,625$12,649$7,469$4,282$2,403$301
43 years$19,919$12,052$7,009$3,953$2,181$258
44 years$19,248$11,488$6,579$3,650$1,979$220
45 years$18,608$10,955$6,178$3,371$1,797$189
46 years$17,998$10,451$5,802$3,114$1,631$161
47 years$17,415$9,973$5,451$2,877$1,481$138
48 years$16,858$9,521$5,122$2,658$1,345$118
49 years$16,326$9,092$4,815$2,457$1,222$101
50 years$15,817$8,685$4,527$2,271$1,110$86

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,200,000, adding $5,072 every year, while hoping to spend $27,353 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: 26/46/28 Blend
55$16,200,000$16,200,000$16,200,000$16,200,000
56$17,857,632$16,999,032$16,747,932$18,165,492
57$19,650,007$17,802,881$17,279,884$19,222,876
58$21,624,287$18,645,202$17,828,740$20,353,882
59$23,798,999$19,527,851$18,395,037$21,566,824
60$26,194,556$20,452,775$18,979,330$22,868,651
61$28,833,453$21,422,013$19,582,190$24,266,959
62$31,740,480$22,437,707$20,204,208$25,770,053
63$34,942,953$23,502,099$20,845,993$27,387,020
64$38,470,974$24,617,541$21,508,174$29,127,801
65$42,357,715$25,786,502$22,191,399$31,003,278
66$46,639,728$27,011,567$22,896,337$33,025,367
67$51,357,294$28,295,448$23,623,678$35,207,116
68$56,554,802$29,640,989$24,374,136$37,562,824
69$62,281,167$31,051,172$25,148,444$40,108,156
70$68,590,290$32,529,123$25,947,361$42,860,286
71$75,541,572$34,078,123$26,771,670$45,838,040
72$83,200,470$35,701,608$27,622,178$49,062,067
73$91,639,115$37,403,184$28,499,719$52,555,014
74$100,936,997$39,186,632$29,405,151$56,341,730
75$111,181,709$41,055,916$30,339,362$60,449,482
76$122,469,779$43,015,192$31,303,267$64,908,197
77$134,907,580$45,068,820$32,297,810$69,750,731
78$148,612,333$47,221,371$33,323,966$75,013,157
79$163,713,211$49,477,639$34,382,739$80,735,091
80$180,352,566$51,842,650$35,475,168$86,960,045
81$198,687,264$54,321,676$36,602,322$93,735,816
82$218,890,171$56,920,244$37,765,306$101,114,924
83$241,151,784$59,644,152$38,965,259$109,155,074
84$265,682,028$62,499,478$40,203,358$117,919,690
85$292,712,239$65,492,596$41,480,815$127,478,480
86$322,497,347$68,630,193$42,798,882$137,908,075
87$355,318,283$71,919,279$44,158,850$149,292,724
88$391,484,629$75,367,205$45,562,053$161,725,062
89$431,337,545$78,981,682$47,009,866$175,306,958
90$475,252,985$82,770,795$48,503,707$190,150,441
91$523,645,249$86,743,024$50,045,041$206,378,731
92$576,970,893$90,907,260$51,635,378$224,127,371
93$635,733,037$95,272,829$53,276,276$243,545,464
94$700,486,121$99,849,511$54,969,345$264,797,054
95$771,841,131$104,647,563$56,716,244$288,062,629
96$850,471,372$109,677,739$58,518,684$313,540,792
97$937,118,826$114,951,322$60,378,433$341,450,089
98$1,032,601,149$120,480,141$62,297,315$372,031,031
99$1,137,819,401$126,276,602$64,277,209$405,548,322
100$1,253,766,541$132,353,717$66,320,057$442,293,304