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

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 $16,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$1,395,586$1,383,155$1,371,027$1,359,189$1,347,630$1,315,051
2 years$690,884$678,017$665,547$653,456$641,728$609,102
3 years$456,014$443,092$430,653$418,676$407,139$375,484
4 years$338,602$325,719$313,405$301,632$290,375$259,936
5 years$268,174$255,368$243,215$231,683$220,738$191,599
6 years$221,236$208,527$196,554$185,278$174,663$146,853
7 years$187,723$175,121$163,337$152,328$142,048$115,572
8 years$162,599$150,111$138,523$127,784$117,842$92,688
9 years$143,069$130,698$119,310$108,843$99,240$75,388
10 years$127,454$115,204$104,017$93,824$84,558$61,980
11 years$114,686$102,560$91,575$81,655$72,722$51,388
12 years$104,054$92,052$81,270$71,622$63,020$42,892
13 years$95,065$83,188$72,610$63,232$54,954$35,995
14 years$87,366$75,616$65,240$56,130$48,173$30,340
15 years$80,700$69,076$58,903$50,058$42,415$25,667
16 years$74,873$63,376$53,404$44,822$37,487$21,779
17 years$69,737$58,367$48,596$40,272$33,238$18,526
18 years$65,177$53,934$44,362$36,293$29,554$15,793
19 years$61,101$49,985$40,611$32,794$26,342$13,487
20 years$57,438$46,449$37,271$29,701$23,529$11,534
21 years$54,127$43,265$34,282$26,956$21,056$9,877
22 years$51,122$40,386$31,596$24,509$18,874$8,467
23 years$48,382$37,773$29,173$22,321$16,942$7,265
24 years$45,874$35,391$26,980$20,358$15,228$6,239
25 years$43,571$33,212$24,989$18,592$13,703$5,361
26 years$41,448$31,214$23,176$17,000$12,343$4,609
27 years$39,485$29,376$21,521$15,560$11,128$3,965
28 years$37,666$27,681$20,007$14,256$10,041$3,412
29 years$35,976$26,114$18,618$13,073$9,067$2,938
30 years$34,401$24,662$17,342$11,998$8,193$2,530
31 years$32,931$23,314$16,167$11,019$7,407$2,179
32 years$31,555$22,059$15,084$10,127$6,700$1,877
33 years$30,265$20,891$14,084$9,313$6,064$1,618
34 years$29,054$19,800$13,160$8,568$5,490$1,394
35 years$27,915$18,780$12,303$7,888$4,972$1,202
36 years$26,841$17,825$11,510$7,264$4,505$1,036
37 years$25,828$16,929$10,773$6,693$4,083$894
38 years$24,870$16,089$10,088$6,169$3,702$770
39 years$23,964$15,299$9,452$5,688$3,357$664
40 years$23,105$14,556$8,859$5,247$3,045$573
41 years$22,290$13,856$8,307$4,841$2,762$494
42 years$21,516$13,196$7,792$4,467$2,507$426
43 years$20,780$12,573$7,312$4,124$2,275$368
44 years$20,080$11,984$6,863$3,808$2,065$317
45 years$19,412$11,428$6,445$3,517$1,875$274
46 years$18,775$10,902$6,053$3,248$1,702$236
47 years$18,168$10,404$5,687$3,001$1,545$204
48 years$17,587$9,932$5,344$2,773$1,404$176
49 years$17,032$9,484$5,023$2,563$1,275$152
50 years$16,500$9,060$4,722$2,369$1,158$131

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 $4,259 every year, while hoping to spend $54,670 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: 52/31/17 Blend
55$16,900,000$16,900,000$16,900,000$16,900,000
56$18,628,193$17,732,493$17,470,543$19,510,292
57$20,470,100$18,543,217$17,997,638$20,926,650
58$22,498,050$19,391,834$18,540,558$22,460,232
59$24,730,960$20,280,143$19,099,776$24,127,039
60$27,189,678$21,210,029$19,675,778$25,939,718
61$29,897,174$22,183,470$20,269,065$27,912,160
62$32,878,760$23,202,534$20,880,153$30,059,636
63$36,162,328$24,269,393$21,509,573$32,398,928
64$39,778,613$25,386,321$22,157,872$34,948,484
65$43,761,483$26,555,702$22,825,611$37,728,585
66$48,148,257$27,780,034$23,513,372$40,761,533
67$52,980,059$29,061,936$24,221,751$44,071,848
68$58,302,207$30,404,153$24,951,361$47,686,501
69$64,164,637$31,809,561$25,702,836$51,635,153
70$70,622,376$33,281,176$26,476,828$55,950,434
71$77,736,063$34,822,157$27,274,005$60,668,235
72$85,572,517$36,435,818$28,095,060$65,828,048
73$94,205,371$38,125,631$28,940,702$71,473,320
74$103,715,767$39,895,235$29,811,664$77,651,861
75$114,193,119$41,748,446$30,708,699$84,416,282
76$125,735,959$43,689,261$31,632,582$91,824,483
77$138,452,865$45,721,874$32,584,112$99,940,188
78$152,463,489$47,850,677$33,564,111$108,833,534
79$167,899,682$50,080,277$34,573,426$118,581,725
80$184,906,742$52,415,503$35,612,928$129,269,746
81$203,644,782$54,861,415$36,683,514$140,991,152
82$224,290,246$57,423,320$37,786,107$153,848,939
83$247,037,568$60,106,780$38,921,659$167,956,504
84$272,101,013$62,917,625$40,091,147$183,438,696
85$299,716,696$65,861,969$41,295,581$200,432,984
86$330,144,813$68,946,219$42,535,996$219,090,737
87$363,672,093$72,177,093$43,813,461$239,578,634
88$400,614,510$75,561,634$45,129,076$262,080,226
89$441,320,261$79,107,225$46,483,971$286,797,643
90$486,173,055$82,821,607$47,879,312$313,953,488
91$535,595,736$86,712,895$49,316,298$343,792,917
92$590,054,270$90,789,596$50,796,163$376,585,932
93$650,062,150$95,060,630$52,320,178$412,629,907
94$716,185,237$99,535,349$53,889,652$452,252,377
95$789,047,106$104,223,556$55,505,931$495,814,100
96$869,334,932$109,135,531$57,170,401$543,712,440
97$957,805,975$114,282,052$58,884,488$596,385,094
98$1,055,294,728$119,674,416$60,649,663$654,314,193
99$1,162,720,799$125,324,472$62,467,435$718,030,827
100$1,281,097,589$131,244,639$64,339,363$788,120,029