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

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 $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%17.4%
1 years$346,832$343,743$340,729$337,787$334,914$324,844
2 years$171,699$168,501$165,402$162,397$159,483$149,422
3 years$113,329$110,117$107,026$104,050$101,182$91,447
4 years$84,150$80,948$77,888$74,962$72,164$62,828
5 years$66,647$63,464$60,444$57,578$54,858$45,947
6 years$54,982$51,823$48,848$46,046$43,407$34,929
7 years$46,653$43,521$40,593$37,857$35,302$27,256
8 years$40,409$37,306$34,426$31,757$29,286$21,667
9 years$35,556$32,481$29,651$27,050$24,663$17,464
10 years$31,675$28,631$25,850$23,317$21,014$14,224
11 years$28,502$25,488$22,758$20,293$18,073$11,680
12 years$25,860$22,877$20,197$17,800$15,662$9,654
13 years$23,626$20,674$18,045$15,714$13,657$8,020
14 years$21,712$18,792$16,214$13,950$11,972$6,690
15 years$20,056$17,167$14,639$12,441$10,541$5,601
16 years$18,608$15,750$13,272$11,139$9,316$4,701
17 years$17,331$14,505$12,077$10,008$8,260$3,956
18 years$16,198$13,404$11,025$9,020$7,345$3,335
19 years$15,185$12,422$10,093$8,150$6,547$2,816
20 years$14,274$11,543$9,263$7,381$5,847$2,381
21 years$13,452$10,752$8,520$6,699$5,233$2,016
22 years$12,705$10,037$7,852$6,091$4,690$1,708
23 years$12,024$9,387$7,250$5,547$4,210$1,448
24 years$11,401$8,795$6,705$5,059$3,784$1,229
25 years$10,828$8,254$6,210$4,621$3,405$1,043
26 years$10,301$7,757$5,760$4,225$3,067$886
27 years$9,813$7,301$5,348$3,867$2,766$753
28 years$9,361$6,879$4,972$3,543$2,495$640
29 years$8,941$6,490$4,627$3,249$2,253$545
30 years$8,549$6,129$4,310$2,982$2,036$463
31 years$8,184$5,794$4,018$2,739$1,841$394
32 years$7,842$5,482$3,749$2,517$1,665$335
33 years$7,522$5,192$3,500$2,314$1,507$285
34 years$7,221$4,921$3,270$2,129$1,364$243
35 years$6,937$4,667$3,058$1,960$1,236$207
36 years$6,671$4,430$2,860$1,805$1,120$176
37 years$6,419$4,207$2,677$1,663$1,015$150
38 years$6,181$3,998$2,507$1,533$920$128
39 years$5,956$3,802$2,349$1,414$834$109
40 years$5,742$3,617$2,202$1,304$757$93
41 years$5,540$3,443$2,064$1,203$687$79
42 years$5,347$3,279$1,937$1,110$623$67
43 years$5,164$3,125$1,817$1,025$565$57
44 years$4,990$2,978$1,706$946$513$49
45 years$4,824$2,840$1,602$874$466$41
46 years$4,666$2,709$1,504$807$423$35
47 years$4,515$2,586$1,413$746$384$30
48 years$4,371$2,468$1,328$689$349$26
49 years$4,233$2,357$1,248$637$317$22
50 years$4,101$2,252$1,174$589$288$19

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 $4,641 every year, while hoping to spend $44,915 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: 67/7/26 Blend
55$4,200,000$4,200,000$4,200,000$4,200,000
56$4,633,187$4,410,587$4,345,487$4,912,027
57$5,057,983$4,578,917$4,443,272$5,268,539
58$5,524,603$4,753,989$4,542,827$5,652,791
59$6,037,265$4,936,087$4,644,164$6,072,037
60$6,600,617$5,125,506$4,747,295$6,529,732
61$7,219,779$5,322,555$4,852,228$7,029,683
62$7,900,391$5,527,555$4,958,972$7,576,079
63$8,648,667$5,740,842$5,067,534$8,173,537
64$9,471,455$5,962,767$5,177,920$8,827,138
65$10,376,296$6,193,695$5,290,134$9,542,479
66$11,371,502$6,434,010$5,404,177$10,325,725
67$12,466,230$6,684,111$5,520,051$11,183,668
68$13,670,566$6,944,413$5,637,754$12,123,785
69$14,995,628$7,215,353$5,757,282$13,154,314
70$16,453,661$7,497,385$5,878,631$14,284,332
71$18,058,161$7,790,984$6,001,792$15,523,833
72$19,823,997$8,096,645$6,126,754$16,883,831
73$21,767,550$8,414,886$6,253,507$18,376,455
74$23,906,873$8,746,249$6,382,032$20,015,070
75$26,261,857$9,091,298$6,512,313$21,814,399
76$28,854,419$9,450,623$6,644,328$23,790,661
77$31,708,708$9,824,842$6,778,051$25,961,727
78$34,851,335$10,214,598$6,913,455$28,347,284
79$38,311,623$10,620,566$7,050,507$30,969,023
80$42,121,882$11,043,447$7,189,173$33,850,842
81$46,317,716$11,483,977$7,329,412$37,019,073
82$50,938,355$11,942,925$7,471,180$40,502,726
83$56,027,032$12,421,092$7,614,428$44,333,767
84$61,631,381$12,919,318$7,759,104$48,547,414
85$67,803,897$13,438,479$7,905,148$53,182,475
86$74,602,421$13,979,492$8,052,498$58,281,707
87$82,090,695$14,543,314$8,201,083$63,892,224
88$90,338,956$15,130,946$8,350,829$70,065,940
89$99,424,602$15,743,435$8,501,655$76,860,057
90$109,432,922$16,381,874$8,653,472$84,337,602
91$120,457,903$17,047,408$8,806,185$92,568,029
92$132,603,110$17,741,233$8,959,693$101,627,866
93$145,982,671$18,464,597$9,113,887$111,601,440
94$160,722,350$19,218,808$9,268,649$122,581,672
95$176,960,733$20,005,234$9,423,852$134,670,954
96$194,850,540$20,825,302$9,579,363$147,982,112
97$214,560,061$21,680,508$9,735,038$162,639,476
98$236,274,749$22,572,414$9,890,723$178,780,044
99$260,198,966$23,502,655$10,046,255$196,554,782
100$286,557,915$24,472,940$10,201,459$216,130,047