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%13.7%
1 years$346,832$343,743$340,729$337,787$334,914$329,773
2 years$171,699$168,501$165,402$162,397$159,483$154,316
3 years$113,329$110,117$107,026$104,050$101,182$96,150
4 years$84,150$80,948$77,888$74,962$72,164$67,305
5 years$66,647$63,464$60,444$57,578$54,858$50,187
6 years$54,982$51,823$48,848$46,046$43,407$38,929
7 years$46,653$43,521$40,593$37,857$35,302$31,018
8 years$40,409$37,306$34,426$31,757$29,286$25,196
9 years$35,556$32,481$29,651$27,050$24,663$20,765
10 years$31,675$28,631$25,850$23,317$21,014$17,305
11 years$28,502$25,488$22,758$20,293$18,073$14,548
12 years$25,860$22,877$20,197$17,800$15,662$12,317
13 years$23,626$20,674$18,045$15,714$13,657$10,489
14 years$21,712$18,792$16,214$13,950$11,972$8,974
15 years$20,056$17,167$14,639$12,441$10,541$7,708
16 years$18,608$15,750$13,272$11,139$9,316$6,643
17 years$17,331$14,505$12,077$10,008$8,260$5,741
18 years$16,198$13,404$11,025$9,020$7,345$4,973
19 years$15,185$12,422$10,093$8,150$6,547$4,316
20 years$14,274$11,543$9,263$7,381$5,847$3,753
21 years$13,452$10,752$8,520$6,699$5,233$3,268
22 years$12,705$10,037$7,852$6,091$4,690$2,849
23 years$12,024$9,387$7,250$5,547$4,210$2,487
24 years$11,401$8,795$6,705$5,059$3,784$2,173
25 years$10,828$8,254$6,210$4,621$3,405$1,900
26 years$10,301$7,757$5,760$4,225$3,067$1,663
27 years$9,813$7,301$5,348$3,867$2,766$1,456
28 years$9,361$6,879$4,972$3,543$2,495$1,276
29 years$8,941$6,490$4,627$3,249$2,253$1,118
30 years$8,549$6,129$4,310$2,982$2,036$980
31 years$8,184$5,794$4,018$2,739$1,841$860
32 years$7,842$5,482$3,749$2,517$1,665$755
33 years$7,522$5,192$3,500$2,314$1,507$662
34 years$7,221$4,921$3,270$2,129$1,364$582
35 years$6,937$4,667$3,058$1,960$1,236$511
36 years$6,671$4,430$2,860$1,805$1,120$449
37 years$6,419$4,207$2,677$1,663$1,015$394
38 years$6,181$3,998$2,507$1,533$920$346
39 years$5,956$3,802$2,349$1,414$834$304
40 years$5,742$3,617$2,202$1,304$757$267
41 years$5,540$3,443$2,064$1,203$687$235
42 years$5,347$3,279$1,937$1,110$623$207
43 years$5,164$3,125$1,817$1,025$565$182
44 years$4,990$2,978$1,706$946$513$160
45 years$4,824$2,840$1,602$874$466$140
46 years$4,666$2,709$1,504$807$423$123
47 years$4,515$2,586$1,413$746$384$108
48 years$4,371$2,468$1,328$689$349$95
49 years$4,233$2,357$1,248$637$317$84
50 years$4,101$2,252$1,174$589$288$74

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 $2,849 every year, while hoping to spend $32,979 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: 33/43/24 Blend
55$4,200,000$4,200,000$4,200,000$4,200,000
56$4,631,339$4,408,739$4,343,639$4,750,094
57$5,068,646$4,589,678$4,454,061$5,020,518
58$5,549,453$4,778,377$4,567,078$5,308,586
59$6,078,162$4,975,183$4,682,740$5,618,390
60$6,659,624$5,180,456$4,801,101$5,951,869
61$7,299,182$5,394,574$4,922,214$6,311,150
62$8,002,723$5,617,933$5,046,132$6,698,566
63$8,776,735$5,850,946$5,172,912$7,116,675
64$9,628,364$6,094,044$5,302,607$7,568,287
65$10,565,487$6,347,682$5,435,274$8,056,482
66$11,596,779$6,612,331$5,570,968$8,584,643
67$12,731,802$6,888,487$5,709,747$9,156,486
68$13,981,090$7,176,667$5,851,668$9,776,088
69$15,356,251$7,477,413$5,996,788$10,447,930
70$16,870,074$7,791,292$6,145,166$11,176,933
71$18,536,654$8,118,897$6,296,861$11,968,504
72$20,371,518$8,460,849$6,451,932$12,828,586
73$22,391,778$8,817,796$6,610,437$13,763,707
74$24,616,289$9,190,418$6,772,436$14,781,048
75$27,065,828$9,579,425$6,937,990$15,888,498
76$29,763,288$9,985,562$7,107,158$17,094,735
77$32,733,896$10,409,608$7,280,001$18,409,297
78$36,005,451$10,852,377$7,456,579$19,842,678
79$39,608,585$11,314,721$7,636,952$21,406,416
80$43,577,051$11,797,533$7,821,180$23,113,204
81$47,948,046$12,301,747$8,009,325$24,977,005
82$52,762,555$12,828,341$8,201,446$27,013,180
83$58,065,744$13,378,338$8,397,603$29,238,630
84$63,907,383$13,952,810$8,597,855$31,671,953
85$70,342,315$14,552,877$8,802,263$34,333,614
86$77,430,976$15,179,713$9,010,884$37,246,136
87$85,239,964$15,834,547$9,223,776$40,434,304
88$93,842,666$16,518,665$9,440,998$43,925,404
89$103,319,952$17,233,414$9,662,606$47,749,465
90$113,760,940$17,980,204$9,888,656$51,939,546
91$125,263,832$18,760,511$10,119,203$56,532,038
92$137,936,847$19,575,880$10,354,300$61,567,008
93$151,899,237$20,427,929$10,594,000$67,088,565
94$167,282,414$21,318,353$10,838,355$73,145,277
95$184,231,194$22,248,926$11,087,413$79,790,618
96$202,905,157$23,221,504$11,341,223$87,083,473
97$223,480,159$24,238,034$11,599,830$95,088,682
98$246,149,990$25,300,553$11,863,279$103,877,649
99$271,128,202$26,411,193$12,131,612$113,529,006
100$298,650,125$27,572,187$12,404,867$124,129,352