Can I retire at age 56 with 4,200,000?

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 $4,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$346,832$343,743$340,729$337,787$334,914$324,713
2 years$171,699$168,501$165,402$162,397$159,483$149,293
3 years$113,329$110,117$107,026$104,050$101,182$91,324
4 years$84,150$80,948$77,888$74,962$72,164$62,712
5 years$66,647$63,464$60,444$57,578$54,858$45,838
6 years$54,982$51,823$48,848$46,046$43,407$34,827
7 years$46,653$43,521$40,593$37,857$35,302$27,161
8 years$40,409$37,306$34,426$31,757$29,286$21,579
9 years$35,556$32,481$29,651$27,050$24,663$17,382
10 years$31,675$28,631$25,850$23,317$21,014$14,149
11 years$28,502$25,488$22,758$20,293$18,073$11,611
12 years$25,860$22,877$20,197$17,800$15,662$9,590
13 years$23,626$20,674$18,045$15,714$13,657$7,961
14 years$21,712$18,792$16,214$13,950$11,972$6,637
15 years$20,056$17,167$14,639$12,441$10,541$5,552
16 years$18,608$15,750$13,272$11,139$9,316$4,657
17 years$17,331$14,505$12,077$10,008$8,260$3,916
18 years$16,198$13,404$11,025$9,020$7,345$3,299
19 years$15,185$12,422$10,093$8,150$6,547$2,783
20 years$14,274$11,543$9,263$7,381$5,847$2,352
21 years$13,452$10,752$8,520$6,699$5,233$1,989
22 years$12,705$10,037$7,852$6,091$4,690$1,684
23 years$12,024$9,387$7,250$5,547$4,210$1,427
24 years$11,401$8,795$6,705$5,059$3,784$1,210
25 years$10,828$8,254$6,210$4,621$3,405$1,027
26 years$10,301$7,757$5,760$4,225$3,067$871
27 years$9,813$7,301$5,348$3,867$2,766$740
28 years$9,361$6,879$4,972$3,543$2,495$628
29 years$8,941$6,490$4,627$3,249$2,253$534
30 years$8,549$6,129$4,310$2,982$2,036$454
31 years$8,184$5,794$4,018$2,739$1,841$386
32 years$7,842$5,482$3,749$2,517$1,665$328
33 years$7,522$5,192$3,500$2,314$1,507$279
34 years$7,221$4,921$3,270$2,129$1,364$237
35 years$6,937$4,667$3,058$1,960$1,236$202
36 years$6,671$4,430$2,860$1,805$1,120$172
37 years$6,419$4,207$2,677$1,663$1,015$146
38 years$6,181$3,998$2,507$1,533$920$124
39 years$5,956$3,802$2,349$1,414$834$106
40 years$5,742$3,617$2,202$1,304$757$90
41 years$5,540$3,443$2,064$1,203$687$76
42 years$5,347$3,279$1,937$1,110$623$65
43 years$5,164$3,125$1,817$1,025$565$55
44 years$4,990$2,978$1,706$946$513$47
45 years$4,824$2,840$1,602$874$466$40
46 years$4,666$2,709$1,504$807$423$34
47 years$4,515$2,586$1,413$746$384$29
48 years$4,371$2,468$1,328$689$349$25
49 years$4,233$2,357$1,248$637$317$21
50 years$4,101$2,252$1,174$589$288$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $4,200,000, adding $3,508 every year, while hoping to spend $54,293 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: 71/14/15 Blend
55$4,200,000$4,200,000$4,200,000$4,200,000
56$4,632,019$4,409,419$4,344,319$4,944,924
57$5,046,717$4,567,713$4,432,086$5,311,421
58$5,501,895$4,731,944$4,520,974$5,705,614
59$6,001,625$4,902,345$4,610,962$6,135,746
60$6,550,390$5,079,160$4,702,029$6,605,359
61$7,153,133$5,262,641$4,794,150$7,118,352
62$7,815,295$5,453,053$4,887,297$7,679,019
63$8,542,873$5,650,671$4,981,439$8,292,086
64$9,342,472$5,855,780$5,076,544$8,962,759
65$10,221,369$6,068,678$5,172,573$9,696,770
66$11,187,582$6,289,676$5,269,487$10,500,430
67$12,249,943$6,519,098$5,367,243$11,380,693
68$13,418,183$6,757,280$5,465,791$12,345,214
69$14,703,025$7,004,574$5,565,082$13,402,425
70$16,116,280$7,261,344$5,665,059$14,561,615
71$17,670,964$7,527,973$5,765,662$15,833,013
72$19,381,416$7,804,858$5,866,825$17,227,888
73$21,263,437$8,092,413$5,968,481$18,758,653
74$23,334,435$8,391,069$6,070,553$20,438,980
75$25,613,593$8,701,276$6,172,961$22,283,931
76$28,122,044$9,023,503$6,275,620$24,310,098
77$30,883,077$9,358,240$6,378,438$26,535,761
78$33,922,352$9,705,994$6,481,316$28,981,056
79$37,268,142$10,067,299$6,584,151$31,668,167
80$40,951,603$10,442,707$6,686,831$34,621,534
81$45,007,064$10,832,797$6,789,237$37,868,085
82$49,472,351$11,238,170$6,891,243$41,437,484
83$54,389,147$11,659,456$6,992,715$45,362,417
84$59,803,379$12,097,309$7,093,511$49,678,894
85$65,765,660$12,552,414$7,193,479$54,426,590
86$72,331,757$13,025,481$7,292,460$59,649,220
87$79,563,122$13,517,256$7,390,284$65,394,950
88$87,527,473$14,028,514$7,486,771$71,716,847
89$96,299,429$14,560,065$7,581,731$78,673,387
90$105,961,215$15,112,752$7,674,963$86,328,996
91$116,603,439$15,687,457$7,766,255$94,754,666
92$128,325,947$16,285,099$7,855,381$104,028,617
93$141,238,762$16,906,638$7,942,106$114,237,040
94$155,463,128$17,553,075$8,026,178$125,474,906
95$171,132,645$18,225,455$8,107,334$137,846,860
96$188,394,541$18,924,868$8,185,295$151,468,213
97$207,411,050$19,652,452$8,259,769$166,466,022
98$228,360,952$20,409,397$8,330,445$182,980,296
99$251,441,254$21,196,942$8,397,000$201,165,310
100$276,869,052$22,016,383$8,459,090$221,191,061