Can I retire at age 56 with 16,800,000?

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 $16,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$1,387,328$1,374,971$1,362,914$1,351,146$1,339,656$1,310,465
2 years$686,796$674,005$661,609$649,590$637,931$608,669
3 years$453,316$440,470$428,105$416,198$404,730$376,310
4 years$336,599$323,792$311,551$299,847$288,657$261,298
5 years$266,587$253,857$241,776$230,312$219,432$193,211
6 years$219,927$207,293$195,391$184,182$173,629$148,574
7 years$186,612$174,085$162,371$151,426$141,207$117,322
8 years$161,637$149,223$137,703$127,028$117,145$94,422
9 years$142,223$129,925$118,604$108,199$98,653$77,076
10 years$126,700$114,523$103,402$93,269$84,057$63,604
11 years$114,008$101,953$91,033$81,172$72,292$52,936
12 years$103,439$91,507$80,790$71,199$62,647$44,357
13 years$94,503$82,696$72,180$62,858$54,629$37,374
14 years$86,849$75,168$64,854$55,798$47,888$31,632
15 years$80,223$68,668$58,555$49,762$42,164$26,872
16 years$74,430$63,001$53,088$44,557$37,265$22,899
17 years$69,325$58,022$48,308$40,034$33,041$19,564
18 years$64,791$53,615$44,099$36,078$29,379$16,751
19 years$60,740$49,690$40,371$32,600$26,186$14,369
20 years$57,098$46,174$37,050$29,526$23,390$12,345
21 years$53,807$43,009$34,079$26,796$20,931$10,620
22 years$50,820$40,148$31,409$24,364$18,762$9,146
23 years$48,096$37,549$29,001$22,189$16,842$7,885
24 years$45,603$35,181$26,821$20,237$15,138$6,803
25 years$43,313$33,016$24,841$18,482$13,622$5,874
26 years$41,203$31,029$23,039$16,899$12,270$5,075
27 years$39,252$29,202$21,394$15,468$11,062$4,387
28 years$37,444$27,517$19,888$14,172$9,982$3,793
29 years$35,763$25,959$18,508$12,996$9,013$3,282
30 years$34,198$24,516$17,239$11,927$8,144$2,840
31 years$32,736$23,176$16,072$10,954$7,363$2,459
32 years$31,368$21,929$14,995$10,067$6,660$2,129
33 years$30,086$20,767$14,001$9,258$6,028$1,844
34 years$28,882$19,682$13,082$8,518$5,457$1,597
35 years$27,750$18,668$12,231$7,841$4,943$1,384
36 years$26,682$17,719$11,441$7,221$4,479$1,199
37 years$25,675$16,829$10,709$6,654$4,059$1,039
38 years$24,723$15,994$10,028$6,133$3,680$901
39 years$23,822$15,208$9,396$5,655$3,337$781
40 years$22,968$14,469$8,807$5,216$3,027$677
41 years$22,158$13,774$8,258$4,812$2,746$587
42 years$21,389$13,117$7,746$4,441$2,492$509
43 years$20,657$12,498$7,269$4,100$2,261$441
44 years$19,961$11,913$6,823$3,785$2,053$382
45 years$19,297$11,361$6,406$3,496$1,863$332
46 years$18,664$10,838$6,017$3,229$1,692$287
47 years$18,060$10,342$5,653$2,983$1,536$249
48 years$17,483$9,873$5,312$2,757$1,395$216
49 years$16,931$9,428$4,993$2,548$1,267$187
50 years$16,403$9,006$4,694$2,355$1,151$163

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,800,000, adding $6,753 every year, while hoping to spend $31,409 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: 58/33/9 Blend
55$16,800,000$16,800,000$16,800,000$16,800,000
56$18,520,566$17,630,166$17,369,766$19,555,742
57$20,376,244$18,460,625$17,918,234$21,083,478
58$22,420,150$19,330,724$18,484,023$22,743,772
59$24,671,448$20,242,372$19,067,680$24,552,670
60$27,151,258$21,197,571$19,669,770$26,524,418
61$29,882,853$22,198,419$20,290,875$28,674,671
62$32,891,879$23,247,117$20,931,594$31,020,638
63$36,206,597$24,345,971$21,592,549$33,581,238
64$39,858,148$25,497,402$22,274,377$36,377,274
65$43,880,850$26,703,945$22,977,739$39,431,618
66$48,312,517$27,968,259$23,703,314$42,769,426
67$53,194,823$29,293,133$24,451,805$46,418,362
68$58,573,689$30,681,491$25,223,934$50,408,858
69$64,499,719$32,136,397$26,020,449$54,774,388
70$71,028,676$33,661,066$26,842,120$59,551,778
71$78,222,011$35,258,869$27,689,742$64,781,547
72$86,147,442$36,933,339$28,564,133$70,508,275
73$94,879,590$38,688,182$29,466,141$76,781,020
74$104,500,688$40,527,283$30,396,637$83,653,769
75$115,101,355$42,454,716$31,356,520$91,185,934
76$126,781,450$44,474,754$32,346,721$99,442,907
77$139,651,017$46,591,876$33,368,195$108,496,665
78$153,831,323$48,810,780$34,421,931$118,426,434
79$169,456,000$51,136,390$35,508,948$129,319,426
80$186,672,312$53,573,873$36,630,298$141,271,653
81$205,642,540$56,128,645$37,787,065$154,388,814
82$226,545,514$58,806,384$38,980,367$168,787,281
83$249,578,307$61,613,047$40,211,359$184,595,183
84$274,958,086$64,554,878$41,481,232$201,953,598
85$302,924,171$67,638,427$42,791,213$221,017,872
86$333,740,288$70,870,562$44,142,570$241,959,062
87$367,697,061$74,258,483$45,536,610$264,965,539
88$405,114,756$77,809,743$46,974,681$290,244,744
89$446,346,302$81,532,262$48,458,174$318,025,126
90$491,780,626$85,434,344$49,988,524$348,558,280
91$541,846,321$89,524,698$51,567,211$382,121,299
92$597,015,696$93,812,458$53,195,763$419,019,367
93$657,809,230$98,307,202$54,875,754$459,588,616
94$724,800,490$103,018,973$56,608,810$504,199,276
95$798,621,541$107,958,304$58,396,607$553,259,139
96$879,968,919$113,136,242$60,240,874$607,217,388
97$969,610,201$118,564,370$62,143,395$666,568,805
98$1,068,391,254$124,254,836$64,106,011$731,858,409
99$1,177,244,220$130,220,381$66,130,621$803,686,577
100$1,297,196,316$136,474,365$68,219,182$882,714,671