Can I retire at age 56 with 19,700,000?

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 $19,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$1,626,808$1,612,317$1,598,179$1,584,380$1,570,906$1,534,800
2 years$805,350$790,351$775,815$761,721$748,050$711,874
3 years$531,567$516,503$502,004$488,042$474,594$439,477
4 years$394,702$379,685$365,330$351,607$338,484$304,697
5 years$312,605$297,677$283,511$270,068$257,310$224,947
6 years$257,891$243,076$229,119$215,975$203,601$172,696
7 years$218,825$204,135$190,399$177,565$165,582$136,139
8 years$189,539$174,981$161,474$148,955$137,366$109,375
9 years$166,773$152,353$139,077$126,877$115,682$89,121
10 years$148,571$134,291$121,251$109,369$98,567$73,407
11 years$133,688$119,552$106,747$95,184$84,771$60,978
12 years$121,294$107,303$94,735$83,489$73,461$50,997
13 years$110,815$96,971$84,640$73,708$64,059$42,882
14 years$101,841$88,144$76,049$65,430$56,154$36,220
15 years$94,071$80,521$68,662$58,352$49,442$30,705
16 years$87,278$73,876$62,253$52,248$43,697$26,110
17 years$81,291$68,037$56,647$46,944$38,745$22,259
18 years$75,975$62,870$51,712$42,306$34,450$19,016
19 years$71,225$58,267$47,339$38,227$30,706$16,276
20 years$66,954$54,144$43,446$34,622$27,427$13,951
21 years$63,095$50,433$39,962$31,422$24,544$11,974
22 years$59,592$47,078$36,831$28,570$22,001$10,289
23 years$56,398$44,031$34,007$26,019$19,749$8,849
24 years$53,475$41,254$31,451$23,731$17,751$7,617
25 years$50,790$38,715$29,130$21,672$15,973$6,561
26 years$48,315$36,386$27,016$19,816$14,388$5,655
27 years$46,027$34,243$25,087$18,138$12,972$4,876
28 years$43,907$32,267$23,322$16,618$11,705$4,206
29 years$41,936$30,440$21,703$15,239$10,569$3,630
30 years$40,101$28,748$20,215$13,986$9,550$3,134
31 years$38,387$27,176$18,846$12,845$8,634$2,706
32 years$36,783$25,714$17,584$11,805$7,810$2,337
33 years$35,280$24,352$16,418$10,856$7,068$2,019
34 years$33,868$23,080$15,340$9,988$6,399$1,745
35 years$32,540$21,891$14,342$9,195$5,796$1,508
36 years$31,288$20,778$13,416$8,468$5,252$1,303
37 years$30,107$19,734$12,558$7,802$4,760$1,127
38 years$28,991$18,754$11,760$7,191$4,315$974
39 years$27,934$17,834$11,017$6,631$3,913$842
40 years$26,933$16,967$10,327$6,116$3,549$728
41 years$25,983$16,151$9,683$5,643$3,220$630
42 years$25,081$15,382$9,083$5,208$2,922$544
43 years$24,223$14,656$8,523$4,807$2,652$471
44 years$23,406$13,970$8,001$4,439$2,407$407
45 years$22,628$13,322$7,512$4,099$2,185$352
46 years$21,886$12,708$7,056$3,787$1,984$305
47 years$21,178$12,128$6,629$3,498$1,802$263
48 years$20,501$11,577$6,229$3,233$1,636$228
49 years$19,854$11,056$5,855$2,987$1,486$197
50 years$19,234$10,561$5,505$2,761$1,350$170

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $19,700,000, adding $2,662 every year, while hoping to spend $21,595 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: 79/7/14 Blend
55$19,700,000$19,700,000$19,700,000$19,700,000
56$21,712,146$20,668,046$20,362,696$23,365,849
57$23,903,808$21,657,803$21,021,869$25,444,202
58$26,318,296$22,695,335$21,702,401$27,720,923
59$28,978,314$23,782,959$22,404,984$30,218,269
60$31,908,885$24,923,107$23,130,334$32,958,306
61$35,137,580$26,118,327$23,879,188$35,965,330
62$38,694,782$27,371,294$24,652,310$39,266,100
63$42,613,973$28,684,811$25,450,486$42,890,084
64$46,932,051$30,061,819$26,274,530$46,869,738
65$51,689,672$31,505,401$27,125,279$51,240,805
66$56,931,644$33,018,791$28,003,601$56,042,656
67$62,707,340$34,605,380$28,910,390$61,318,653
68$69,071,170$36,268,725$29,846,569$67,116,559
69$76,083,093$38,012,555$30,813,093$73,488,984
70$83,809,181$39,840,784$31,810,945$80,493,882
71$92,322,248$41,757,512$32,841,141$88,195,088
72$101,702,530$43,767,043$33,904,732$96,662,924
73$112,038,448$45,873,888$35,002,801$105,974,855
74$123,427,441$48,082,780$36,136,466$116,216,219
75$135,976,886$50,398,682$37,306,883$127,481,027
76$149,805,108$52,826,797$38,515,244$139,872,847
77$165,042,505$55,372,586$39,762,780$153,505,779
78$181,832,770$58,041,773$41,050,763$168,505,524
79$200,334,254$60,840,361$42,380,505$185,010,570
80$220,721,458$63,774,648$43,753,362$203,173,492
81$243,186,679$66,851,239$45,170,732$223,162,389
82$267,941,829$70,077,058$46,634,060$245,162,463
83$295,220,433$73,459,371$48,144,839$269,377,768
84$325,279,834$77,005,797$49,704,607$296,033,121
85$358,403,621$80,724,325$51,314,956$325,376,229
86$394,904,310$84,623,337$52,977,526$357,680,013
87$435,126,289$88,711,620$54,694,013$393,245,184
88$479,449,076$92,998,395$56,466,168$432,403,069
89$528,290,894$97,493,328$58,295,797$475,518,738
90$582,112,624$102,206,561$60,184,765$522,994,441
91$641,422,157$107,148,728$62,135,000$575,273,396
92$706,779,185$112,330,983$64,148,490$632,843,967
93$778,800,487$117,765,026$66,227,290$696,244,265
94$858,165,751$123,463,126$68,373,518$766,067,222
95$945,623,991$129,438,154$70,589,365$842,966,176
96$1,042,000,620$135,703,605$72,877,091$927,661,034
97$1,148,205,240$142,273,638$75,239,029$1,020,945,053
98$1,265,240,228$149,163,100$77,677,590$1,123,692,323
99$1,394,210,203$156,387,564$80,195,262$1,236,866,008
100$1,536,332,454$163,963,364$82,794,613$1,361,527,424