Can I retire at age 56 with 16,500,000?

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 $16,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$1,362,555$1,350,418$1,338,576$1,327,019$1,315,733$1,293,404
2 years$674,532$661,969$649,794$637,990$626,540$604,112
3 years$445,221$432,604$420,460$408,766$397,502$375,675
4 years$330,588$318,010$305,987$294,493$283,502$262,443
5 years$261,826$249,324$237,459$226,199$215,514$195,283
6 years$216,000$203,592$191,902$180,893$170,529$151,150
7 years$183,280$170,976$159,471$148,722$138,686$120,164
8 years$158,751$146,558$135,244$124,759$115,053$97,385
9 years$139,683$127,605$116,486$106,267$96,891$80,067
10 years$124,437$112,478$101,555$91,603$82,556$66,562
11 years$111,972$100,132$89,407$79,722$71,001$55,819
12 years$101,592$89,873$79,347$69,927$61,528$47,138
13 years$92,815$81,219$70,891$61,735$53,654$40,034
14 years$85,299$73,826$63,696$54,802$47,032$34,160
15 years$78,790$67,441$57,509$48,873$41,411$29,261
16 years$73,101$61,876$52,140$43,761$36,599$25,147
17 years$68,087$56,986$47,446$39,319$32,451$21,670
18 years$63,634$52,657$43,312$35,434$28,854$18,717
19 years$59,655$48,802$39,650$32,018$25,718$16,199
20 years$56,078$45,349$36,389$28,998$22,972$14,043
21 years$52,846$42,241$33,470$26,318$20,558$12,192
22 years$49,912$39,431$30,848$23,929$18,427$10,597
23 years$47,237$36,879$28,483$21,793$16,541$9,222
24 years$44,789$34,553$26,342$19,876$14,867$8,032
25 years$42,540$32,426$24,398$18,152$13,378$7,001
26 years$40,467$30,475$22,628$16,597$12,051$6,107
27 years$38,551$28,681$21,012$15,192$10,865$5,330
28 years$36,775$27,026$19,533$13,919$9,804$4,655
29 years$35,124$25,496$18,177$12,764$8,852$4,067
30 years$33,587$24,078$16,932$11,714$7,999$3,554
31 years$32,151$22,762$15,785$10,759$7,232$3,108
32 years$30,808$21,537$14,727$9,887$6,541$2,718
33 years$29,549$20,396$13,751$9,092$5,920$2,378
34 years$28,367$19,331$12,848$8,366$5,360$2,081
35 years$27,254$18,335$12,012$7,701$4,855$1,821
36 years$26,206$17,403$11,237$7,092$4,399$1,594
37 years$25,216$16,529$10,518$6,535$3,987$1,395
38 years$24,281$15,708$9,849$6,023$3,614$1,222
39 years$23,397$14,937$9,228$5,554$3,277$1,070
40 years$22,558$14,211$8,649$5,123$2,973$937
41 years$21,763$13,528$8,110$4,726$2,697$821
42 years$21,007$12,883$7,608$4,362$2,447$719
43 years$20,288$12,275$7,139$4,026$2,221$630
44 years$19,604$11,701$6,701$3,718$2,016$552
45 years$18,953$11,158$6,292$3,433$1,830$483
46 years$18,331$10,644$5,910$3,171$1,662$423
47 years$17,738$10,158$5,552$2,930$1,509$371
48 years$17,171$9,697$5,217$2,707$1,370$325
49 years$16,629$9,260$4,904$2,502$1,245$285
50 years$16,110$8,846$4,610$2,313$1,130$250

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,500,000, adding $3,290 every year, while hoping to spend $22,112 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: 58/31/11 Blend
55$16,500,000$16,500,000$16,500,000$16,500,000
56$18,186,394$17,311,894$17,056,144$19,192,433
57$20,017,879$18,136,649$17,603,997$20,695,631
58$22,035,434$19,001,077$18,169,463$22,330,618
59$24,258,016$19,907,097$18,753,108$24,112,243
60$26,706,513$20,856,724$19,355,516$26,054,580
61$29,403,943$21,852,069$19,977,291$28,173,095
62$32,375,671$22,895,347$20,619,057$30,484,793
63$35,649,651$23,988,880$21,281,457$33,008,369
64$39,256,684$25,135,104$21,965,154$35,764,376
65$43,230,713$26,336,572$22,670,834$38,775,419
66$47,609,144$27,595,962$23,399,205$42,066,357
67$52,433,195$28,916,082$24,150,997$45,664,531
68$57,748,288$30,299,878$24,926,963$49,600,017
69$63,604,479$31,750,437$25,727,881$53,905,901
70$70,056,926$33,270,998$26,554,555$58,618,583
71$77,166,413$34,864,958$27,407,814$63,778,112
72$84,999,924$36,535,878$28,288,512$69,428,556
73$93,631,273$38,287,492$29,197,534$75,618,411
74$103,141,802$40,123,719$30,135,791$82,401,044
75$113,621,150$42,048,665$31,104,224$89,835,192
76$125,168,096$44,066,638$32,103,804$97,985,501
77$137,891,494$46,182,156$33,135,534$106,923,130
78$151,911,301$48,399,957$34,200,449$116,726,408
79$167,359,707$50,725,008$35,299,617$127,481,565
80$184,382,384$53,162,520$36,434,141$139,283,527
81$203,139,862$55,717,958$37,605,160$152,236,804
82$223,809,042$58,397,053$38,813,847$166,456,464
83$246,584,870$61,205,814$40,061,416$182,069,198
84$271,682,172$64,150,544$41,349,119$199,214,509
85$299,337,687$67,237,854$42,678,248$218,046,006
86$329,812,298$70,474,676$44,050,136$238,732,841
87$363,393,498$73,868,280$45,466,162$261,461,290
88$400,398,101$77,426,292$46,927,744$286,436,489
89$441,175,236$81,156,709$48,436,352$313,884,354
90$486,109,639$85,067,916$49,993,498$344,053,692
91$535,625,288$89,168,710$51,600,747$377,218,533
92$590,189,406$93,468,316$53,259,711$413,680,689
93$650,316,871$97,976,409$54,972,056$453,772,585
94$716,575,073$102,703,134$56,739,501$497,860,369
95$789,589,277$107,659,134$58,563,821$546,347,350
96$870,048,521$112,855,570$60,446,847$599,677,769
97$958,712,124$118,304,147$62,390,470$658,340,975
98$1,056,416,853$124,017,141$64,396,643$722,876,010
99$1,164,084,820$130,007,430$66,467,379$793,876,668
100$1,282,732,194$136,288,516$68,604,758$871,997,070