Can I retire at age 56 with 16,900,000?

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 $16,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$1,395,586$1,383,155$1,371,027$1,359,189$1,347,630$1,320,420
2 years$690,884$678,017$665,547$653,456$641,728$614,435
3 years$456,014$443,092$430,653$418,676$407,139$380,612
4 years$338,602$325,719$313,405$301,632$290,375$264,820
5 years$268,174$255,368$243,215$231,683$220,738$196,227
6 years$221,236$208,527$196,554$185,278$174,663$151,222
7 years$187,723$175,121$163,337$152,328$142,048$119,683
8 years$162,599$150,111$138,523$127,784$117,842$96,546
9 years$143,069$130,698$119,310$108,843$99,240$78,999
10 years$127,454$115,204$104,017$93,824$84,558$65,352
11 years$114,686$102,560$91,575$81,655$72,722$54,528
12 years$104,054$92,052$81,270$71,622$63,020$45,811
13 years$95,065$83,188$72,610$63,232$54,954$38,701
14 years$87,366$75,616$65,240$56,130$48,173$32,845
15 years$80,700$69,076$58,903$50,058$42,415$27,980
16 years$74,873$63,376$53,404$44,822$37,487$23,911
17 years$69,737$58,367$48,596$40,272$33,238$20,487
18 years$65,177$53,934$44,362$36,293$29,554$17,593
19 years$61,101$49,985$40,611$32,794$26,342$15,136
20 years$57,438$46,449$37,271$29,701$23,529$13,043
21 years$54,127$43,265$34,282$26,956$21,056$11,255
22 years$51,122$40,386$31,596$24,509$18,874$9,723
23 years$48,382$37,773$29,173$22,321$16,942$8,408
24 years$45,874$35,391$26,980$20,358$15,228$7,278
25 years$43,571$33,212$24,989$18,592$13,703$6,304
26 years$41,448$31,214$23,176$17,000$12,343$5,464
27 years$39,485$29,376$21,521$15,560$11,128$4,738
28 years$37,666$27,681$20,007$14,256$10,041$4,111
29 years$35,976$26,114$18,618$13,073$9,067$3,568
30 years$34,401$24,662$17,342$11,998$8,193$3,098
31 years$32,931$23,314$16,167$11,019$7,407$2,691
32 years$31,555$22,059$15,084$10,127$6,700$2,338
33 years$30,265$20,891$14,084$9,313$6,064$2,031
34 years$29,054$19,800$13,160$8,568$5,490$1,766
35 years$27,915$18,780$12,303$7,888$4,972$1,535
36 years$26,841$17,825$11,510$7,264$4,505$1,334
37 years$25,828$16,929$10,773$6,693$4,083$1,160
38 years$24,870$16,089$10,088$6,169$3,702$1,009
39 years$23,964$15,299$9,452$5,688$3,357$878
40 years$23,105$14,556$8,859$5,247$3,045$763
41 years$22,290$13,856$8,307$4,841$2,762$664
42 years$21,516$13,196$7,792$4,467$2,507$578
43 years$20,780$12,573$7,312$4,124$2,275$503
44 years$20,080$11,984$6,863$3,808$2,065$437
45 years$19,412$11,428$6,445$3,517$1,875$380
46 years$18,775$10,902$6,053$3,248$1,702$331
47 years$18,168$10,404$5,687$3,001$1,545$288
48 years$17,587$9,932$5,344$2,773$1,404$251
49 years$17,032$9,484$5,023$2,563$1,275$218
50 years$16,500$9,060$4,722$2,369$1,158$190

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,900,000, adding $2,426 every year, while hoping to spend $45,670 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: 50/24/26 Blend
55$16,900,000$16,900,000$16,900,000$16,900,000
56$18,626,302$17,730,602$17,468,652$19,420,772
57$20,477,593$18,550,809$18,005,260$20,795,172
58$22,516,184$19,409,676$18,558,313$22,283,384
59$24,761,133$20,309,048$19,128,314$23,900,054
60$27,233,438$21,250,861$19,715,782$25,657,380
61$29,956,238$22,237,142$20,321,250$27,568,765
62$32,955,030$23,270,019$20,945,269$29,648,940
63$36,257,913$24,351,719$21,588,404$31,914,102
64$39,895,845$25,484,578$22,251,241$34,382,054
65$43,902,945$26,671,046$22,934,381$37,072,374
66$48,316,807$27,913,690$23,638,445$40,006,589
67$53,178,860$29,215,199$24,364,071$43,208,376
68$58,534,755$30,578,395$25,111,919$46,703,775
69$64,434,798$32,006,234$25,882,666$50,521,433
70$70,934,425$33,501,817$26,677,013$54,692,863
71$78,094,723$35,068,393$27,495,680$59,252,736
72$85,983,008$36,709,368$28,339,409$64,239,201
73$94,673,461$38,428,313$29,208,965$69,694,235
74$104,247,827$40,228,973$30,105,138$75,664,034
75$114,796,184$42,115,271$31,028,739$82,199,440
76$126,417,799$44,091,323$31,980,605$89,356,408
77$139,222,059$46,161,443$32,961,600$97,196,528
78$153,329,507$48,330,152$33,972,612$105,787,599
79$168,872,979$50,602,192$35,014,557$115,204,252
80$185,998,858$52,982,533$36,088,379$125,528,649
81$204,868,451$55,476,388$37,195,050$136,851,245
82$225,659,522$58,089,219$38,335,573$149,271,631
83$248,567,958$60,826,756$39,510,979$162,899,463
84$273,809,626$63,695,003$40,722,334$177,855,480
85$301,622,408$66,700,259$41,970,732$194,272,636
86$332,268,446$69,849,124$43,257,304$212,297,336
87$366,036,618$73,148,521$44,583,214$232,090,809
88$403,245,261$76,605,707$45,949,660$253,830,608
89$444,245,183$80,228,292$47,357,879$277,712,276
90$489,422,968$84,024,254$48,809,144$303,951,171
91$539,204,627$88,001,959$50,304,766$332,784,485
92$594,059,621$92,170,178$51,846,099$364,473,463
93$654,505,293$96,538,107$53,434,533$399,305,851
94$721,111,749$101,115,390$55,071,506$437,598,589
95$794,507,241$105,912,137$56,758,495$479,700,790
96$875,384,098$110,938,951$58,497,024$525,997,005
97$964,505,265$116,206,948$60,288,662$576,910,837
98$1,062,711,498$121,727,785$62,135,029$632,908,912
99$1,170,929,308$127,513,684$64,037,790$694,505,264
100$1,290,179,704$133,577,460$65,998,662$762,266,157