Can I retire at age 56 with 16,700,000?

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 $16,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$1,379,070$1,366,786$1,354,802$1,343,104$1,331,681$1,289,053
2 years$682,708$669,993$657,671$645,723$634,134$591,580
3 years$450,618$437,848$425,556$413,721$402,321$361,176
4 years$334,595$321,865$309,696$298,063$286,938$247,519
5 years$265,000$252,346$240,337$228,941$218,126$180,537
6 years$218,618$206,059$194,228$183,086$172,596$136,868
7 years$185,501$173,048$161,404$150,525$140,367$106,498
8 years$160,675$148,334$136,884$126,272$116,448$84,414
9 years$141,376$129,152$117,898$107,555$98,066$67,830
10 years$125,946$113,841$102,786$92,714$83,557$55,074
11 years$113,329$101,346$90,491$80,689$71,862$45,079
12 years$102,823$90,963$80,309$70,775$62,274$37,133
13 years$93,940$82,204$71,750$62,484$54,304$30,744
14 years$86,333$74,721$64,468$55,466$47,603$25,560
15 years$79,745$68,259$58,206$49,466$41,913$21,321
16 years$73,987$62,626$52,772$44,291$37,043$17,833
17 years$68,912$57,676$48,021$39,795$32,845$14,950
18 years$64,405$53,296$43,837$35,864$29,204$12,557
19 years$60,378$49,394$40,130$32,406$26,030$10,563
20 years$56,758$45,899$36,830$29,350$23,251$8,898
21 years$53,487$42,753$33,876$26,637$20,807$7,503
22 years$50,517$39,909$31,222$24,219$18,650$6,333
23 years$47,810$37,326$28,828$22,057$16,742$5,349
24 years$45,332$34,972$26,661$20,117$15,048$4,521
25 years$43,055$32,819$24,694$18,372$13,541$3,823
26 years$40,957$30,845$22,902$16,798$12,197$3,235
27 years$39,018$29,029$21,267$15,376$10,997$2,738
28 years$37,221$27,353$19,770$14,088$9,922$2,318
29 years$35,550$25,805$18,398$12,919$8,960$1,963
30 years$33,994$24,370$17,137$11,856$8,096$1,663
31 years$32,541$23,038$15,976$10,889$7,319$1,409
32 years$31,182$21,798$14,906$10,007$6,621$1,194
33 years$29,907$20,643$13,918$9,202$5,992$1,012
34 years$28,710$19,565$13,004$8,467$5,425$858
35 years$27,584$18,557$12,158$7,794$4,914$727
36 years$26,523$17,614$11,373$7,178$4,452$616
37 years$25,522$16,729$10,645$6,614$4,035$523
38 years$24,576$15,898$9,969$6,096$3,658$443
39 years$23,680$15,118$9,340$5,621$3,317$376
40 years$22,832$14,383$8,754$5,185$3,009$319
41 years$22,026$13,692$8,209$4,783$2,730$270
42 years$21,262$13,039$7,700$4,415$2,477$229
43 years$20,534$12,424$7,225$4,075$2,248$194
44 years$19,842$11,843$6,782$3,763$2,040$165
45 years$19,182$11,293$6,368$3,475$1,852$140
46 years$18,553$10,773$5,981$3,210$1,682$118
47 years$17,953$10,281$5,619$2,966$1,527$100
48 years$17,379$9,814$5,281$2,740$1,387$85
49 years$16,830$9,372$4,963$2,533$1,260$72
50 years$16,305$8,953$4,666$2,341$1,144$61

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,700,000, adding $2,922 every year, while hoping to spend $51,549 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: 36/34/30 Blend
55$16,700,000$16,700,000$16,700,000$16,700,000
56$18,406,414$17,521,314$17,262,464$18,903,380
57$20,229,021$18,325,011$17,785,909$20,079,055
58$22,235,805$19,166,361$18,325,161$21,342,568
59$24,445,500$20,047,155$18,880,697$22,705,699
60$26,878,745$20,969,270$19,453,004$24,177,458
61$29,558,285$21,934,672$20,042,588$25,767,726
62$32,509,182$22,945,423$20,649,967$27,487,342
63$35,759,053$24,003,683$21,275,675$29,348,199
64$39,338,330$25,111,717$21,920,264$31,363,348
65$43,280,547$26,271,898$22,584,300$33,547,115
66$47,622,655$27,486,714$23,268,366$35,915,227
67$52,405,375$28,758,772$23,973,065$38,484,957
68$57,673,576$30,090,804$24,699,016$41,275,271
69$63,476,703$31,485,676$25,446,855$44,307,004
70$69,869,243$32,946,390$26,217,241$47,603,048
71$76,911,236$34,476,094$27,010,849$51,188,553
72$84,668,845$36,078,086$27,828,376$55,091,162
73$93,214,980$37,755,824$28,670,538$59,341,254
74$102,629,982$39,512,934$29,538,076$63,972,224
75$113,002,387$41,353,215$30,431,748$69,020,788
76$124,429,758$43,280,650$31,352,340$74,527,315
77$137,019,607$45,299,415$32,300,656$80,536,195
78$150,890,408$47,413,887$33,277,529$87,096,250
79$166,172,716$49,628,655$34,283,813$94,261,175
80$183,010,402$51,948,528$35,320,390$102,090,035
81$201,562,006$54,378,548$36,388,166$110,647,807
82$222,002,237$56,924,003$37,488,076$120,005,975
83$244,523,620$59,590,434$38,621,081$130,243,193
84$269,338,314$62,383,651$39,788,172$141,446,009
85$296,680,116$65,309,743$40,990,369$153,709,663
86$326,806,664$68,375,097$42,228,723$167,138,969
87$360,001,873$71,586,406$43,504,314$181,849,284
88$396,578,612$74,950,688$44,818,258$197,967,579
89$436,881,660$78,475,302$46,171,699$215,633,614
90$481,290,959$82,167,960$47,565,820$235,001,238
91$530,225,197$86,036,751$49,001,836$256,239,813
92$584,145,769$90,090,153$50,480,999$279,535,798
93$643,561,123$94,337,057$52,004,598$305,094,475
94$709,031,567$98,786,782$53,573,961$333,141,864
95$781,174,554$103,449,101$55,190,456$363,926,831
96$860,670,510$108,334,259$56,855,488$397,723,407
97$948,269,263$113,452,998$58,570,508$434,833,343
98$1,044,797,115$118,816,583$60,337,007$475,588,930
99$1,151,164,646$124,436,820$62,156,522$520,356,103
100$1,268,375,310$130,326,094$64,030,635$569,537,858