Can I retire at age 56 with 16,400,000?

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 $16,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$1,354,297$1,342,233$1,330,464$1,318,976$1,307,759$1,261,861
2 years$670,444$657,958$645,856$634,123$622,742$576,982
3 years$442,523$429,982$417,912$406,289$395,093$350,910
4 years$328,585$316,083$304,133$292,708$281,784$239,514
5 years$260,239$247,813$236,019$224,828$214,208$173,963
6 years$214,691$202,358$190,739$179,797$169,495$131,307
7 years$182,169$169,940$158,505$147,821$137,845$101,705
8 years$157,789$145,670$134,425$124,003$114,356$80,234
9 years$138,836$126,832$115,780$105,623$96,304$64,157
10 years$123,683$111,796$100,940$91,048$82,056$51,830
11 years$111,293$99,525$88,866$79,239$70,571$42,204
12 years$100,976$89,329$78,866$69,503$61,155$34,581
13 years$92,252$80,727$70,462$61,361$53,328$28,476
14 years$84,782$73,379$63,310$54,470$46,747$23,542
15 years$78,313$67,033$57,160$48,577$41,160$19,526
16 years$72,658$61,501$51,824$43,496$36,377$16,238
17 years$67,674$56,640$47,158$39,081$32,255$13,534
18 years$63,249$52,338$43,049$35,219$28,679$11,299
19 years$59,294$48,506$39,409$31,824$25,563$9,448
20 years$55,738$45,075$36,168$28,823$22,833$7,910
21 years$52,526$41,985$33,268$26,158$20,433$6,629
22 years$49,610$39,192$30,661$23,784$18,315$5,560
23 years$46,951$36,655$28,310$21,660$16,441$4,666
24 years$44,517$34,343$26,182$19,756$14,777$3,919
25 years$42,282$32,230$24,250$18,042$13,297$3,293
26 years$40,222$30,291$22,491$16,497$11,978$2,768
27 years$38,317$28,507$20,885$15,100$10,799$2,328
28 years$36,552$26,862$19,415$13,835$9,744$1,958
29 years$34,912$25,341$18,067$12,687$8,799$1,647
30 years$33,383$23,932$16,829$11,643$7,950$1,386
31 years$31,956$22,624$15,689$10,693$7,188$1,167
32 years$30,621$21,407$14,638$9,827$6,502$982
33 years$29,370$20,273$13,668$9,037$5,884$827
34 years$28,195$19,214$12,770$8,315$5,327$696
35 years$27,089$18,224$11,939$7,654$4,825$586
36 years$26,047$17,297$11,169$7,049$4,372$494
37 years$25,064$16,428$10,454$6,495$3,962$416
38 years$24,134$15,613$9,790$5,987$3,592$350
39 years$23,255$14,846$9,172$5,520$3,258$295
40 years$22,421$14,125$8,597$5,091$2,955$248
41 years$21,631$13,446$8,061$4,698$2,681$209
42 years$20,880$12,805$7,562$4,335$2,432$176
43 years$20,165$12,201$7,096$4,002$2,208$149
44 years$19,486$11,630$6,660$3,695$2,004$125
45 years$18,838$11,090$6,254$3,413$1,819$105
46 years$18,220$10,580$5,874$3,152$1,652$89
47 years$17,630$10,096$5,518$2,912$1,500$75
48 years$17,067$9,638$5,186$2,691$1,362$63
49 years$16,528$9,204$4,874$2,487$1,237$53
50 years$16,012$8,792$4,582$2,299$1,124$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,400,000, adding $2,140 every year, while hoping to spend $48,669 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: 43/36/21 Blend
55$16,400,000$16,400,000$16,400,000$16,400,000
56$18,075,007$17,205,807$16,951,607$18,741,565
57$19,866,875$17,997,109$17,467,703$20,005,197
58$21,839,881$18,825,552$17,999,456$21,368,500
59$24,012,452$19,692,907$18,547,341$22,844,568
60$26,404,889$20,601,027$19,111,844$24,443,827
61$29,039,565$21,551,854$19,693,468$26,177,720
62$31,941,131$22,547,425$20,292,729$28,058,811
63$35,136,752$23,589,875$20,910,161$30,100,893
64$38,656,362$24,681,440$21,546,313$32,319,116
65$42,532,945$25,824,464$22,201,748$34,730,117
66$46,802,849$27,021,407$22,877,050$37,352,174
67$51,506,127$28,274,843$23,572,819$40,205,371
68$56,686,914$29,587,473$24,289,671$43,311,775
69$62,393,848$30,962,128$25,028,244$46,695,641
70$68,680,523$32,401,774$25,789,192$50,383,627
71$75,605,997$33,909,522$26,573,191$54,405,040
72$83,235,351$35,488,631$27,380,935$58,792,102
73$91,640,302$37,142,519$28,213,142$63,580,243
74$100,899,879$38,874,768$29,070,548$68,808,423
75$111,101,169$40,689,134$29,953,914$74,519,495
76$122,340,140$42,589,554$30,864,022$80,760,588
77$134,722,546$44,580,153$31,801,678$87,583,551
78$148,364,923$46,665,259$32,767,712$95,045,418
79$163,395,695$48,849,406$33,762,980$103,208,944
80$179,956,378$51,137,349$34,788,362$112,143,173
81$198,202,922$53,534,073$35,844,766$121,924,084
82$218,307,180$56,044,802$36,933,125$132,635,286
83$240,458,531$58,675,015$38,054,403$144,368,798
84$264,865,665$61,430,456$39,209,590$157,225,894
85$291,758,559$64,317,144$40,399,707$171,318,045
86$321,390,641$67,341,393$41,625,806$186,767,953
87$354,041,185$70,509,820$42,888,969$203,710,691
88$390,017,949$73,829,364$44,190,313$222,294,953
89$429,660,077$77,307,300$45,530,985$242,684,445
90$473,341,301$80,951,254$46,912,169$265,059,399
91$521,473,470$84,769,222$48,335,084$289,618,260
92$574,510,439$88,769,589$49,800,984$316,579,529
93$632,952,349$92,961,143$51,311,161$346,183,803
94$697,350,351$97,353,102$52,866,948$378,696,022
95$768,311,811$101,955,129$54,469,715$414,407,937
96$846,506,039$106,777,353$56,120,874$453,640,842
97$932,670,611$111,830,399$57,821,879$496,748,570
98$1,027,618,329$117,125,405$59,574,228$544,120,809
99$1,132,244,897$122,674,048$61,379,463$596,186,743
100$1,247,537,375$128,488,574$63,239,173$653,419,067