Can I retire at age 56 with 4,500,000?

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 $4,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$371,606$368,296$365,066$361,914$358,836$350,732
2 years$183,963$180,537$177,217$173,997$170,874$162,752
3 years$121,424$117,983$114,671$111,482$108,410$100,524
4 years$90,160$86,730$83,451$80,316$77,319$69,730
5 years$71,407$67,997$64,761$61,691$58,776$51,507
6 years$58,909$55,525$52,337$49,334$46,508$39,564
7 years$49,985$46,630$43,492$40,561$37,823$31,207
8 years$43,296$39,970$36,885$34,025$31,378$25,086
9 years$38,095$34,801$31,769$28,982$26,425$20,453
10 years$33,937$30,676$27,697$24,983$22,515$16,857
11 years$30,538$27,309$24,384$21,742$19,364$14,012
12 years$27,707$24,511$21,640$19,071$16,780$11,726
13 years$25,313$22,151$19,334$16,837$14,633$9,867
14 years$23,263$20,134$17,372$14,946$12,827$8,339
15 years$21,488$18,393$15,684$13,329$11,294$7,075
16 years$19,937$16,875$14,220$11,935$9,982$6,020
17 years$18,569$15,542$12,940$10,723$8,850$5,136
18 years$17,355$14,361$11,812$9,664$7,869$4,391
19 years$16,270$13,310$10,814$8,732$7,014$3,761
20 years$15,294$12,368$9,924$7,909$6,265$3,226
21 years$14,413$11,520$9,128$7,178$5,607$2,771
22 years$13,612$10,754$8,413$6,526$5,026$2,383
23 years$12,883$10,058$7,768$5,943$4,511$2,051
24 years$12,215$9,424$7,184$5,421$4,055$1,767
25 years$11,602$8,844$6,654$4,951$3,649$1,523
26 years$11,036$8,311$6,171$4,527$3,287$1,314
27 years$10,514$7,822$5,731$4,143$2,963$1,134
28 years$10,030$7,371$5,327$3,796$2,674$979
29 years$9,579$6,953$4,957$3,481$2,414$846
30 years$9,160$6,567$4,618$3,195$2,181$731
31 years$8,769$6,208$4,305$2,934$1,972$631
32 years$8,402$5,874$4,017$2,697$1,784$546
33 years$8,059$5,563$3,750$2,480$1,615$472
34 years$7,736$5,272$3,504$2,282$1,462$408
35 years$7,433$5,000$3,276$2,100$1,324$353
36 years$7,147$4,746$3,065$1,934$1,200$305
37 years$6,877$4,508$2,868$1,782$1,087$264
38 years$6,622$4,284$2,686$1,643$986$229
39 years$6,381$4,074$2,517$1,515$894$198
40 years$6,152$3,876$2,359$1,397$811$171
41 years$5,935$3,689$2,212$1,289$736$148
42 years$5,729$3,514$2,075$1,190$667$128
43 years$5,533$3,348$1,947$1,098$606$111
44 years$5,347$3,191$1,828$1,014$550$96
45 years$5,169$3,043$1,716$936$499$83
46 years$4,999$2,903$1,612$865$453$72
47 years$4,838$2,770$1,514$799$412$62
48 years$4,683$2,645$1,423$738$374$54
49 years$4,535$2,525$1,337$682$339$47
50 years$4,394$2,412$1,257$631$308$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $4,500,000, adding $4,596 every year, while hoping to spend $25,038 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: 67/22/11 Blend
55$4,500,000$4,500,000$4,500,000$4,500,000
56$4,963,741$4,725,241$4,655,491$5,284,286
57$5,443,402$4,930,137$4,784,809$5,703,026
58$5,971,150$5,144,235$4,917,621$6,157,260
59$6,551,862$5,367,957$5,054,016$6,653,232
60$7,190,914$5,601,749$5,194,088$7,195,022
61$7,894,228$5,846,076$5,337,931$7,787,122
62$8,668,331$6,101,425$5,485,643$8,434,473
63$9,520,412$6,368,306$5,637,323$9,142,515
64$10,458,394$6,647,253$5,793,074$9,917,230
65$11,491,008$6,938,826$5,953,000$10,765,207
66$12,627,873$7,243,611$6,117,208$11,693,695
67$13,879,589$7,562,221$6,285,807$12,710,675
68$15,257,836$7,895,299$6,458,910$13,824,932
69$16,775,483$8,243,516$6,636,632$15,046,135
70$18,446,714$8,607,580$6,819,090$16,384,933
71$20,287,153$8,988,226$7,006,404$17,853,048
72$22,314,022$9,386,228$7,198,698$19,463,386
73$24,546,296$9,802,397$7,396,098$21,230,158
74$27,004,883$10,237,579$7,598,732$23,169,013
75$29,712,824$10,692,663$7,806,732$25,297,183
76$32,695,508$11,168,580$8,020,234$27,633,644
77$35,980,914$11,666,305$8,239,376$30,199,293
78$39,599,871$12,186,857$8,464,299$33,017,146
79$43,586,351$12,731,307$8,695,146$36,112,550
80$47,977,793$13,300,774$8,932,067$39,513,420
81$52,815,449$13,896,433$9,175,213$43,250,505
82$58,144,779$14,519,513$9,424,737$47,357,670
83$64,015,879$15,171,302$9,680,798$51,872,219
84$70,483,951$15,853,149$9,943,558$56,835,240
85$77,609,829$16,566,467$10,213,181$62,291,993
86$85,460,546$17,312,738$10,489,837$68,292,333
87$94,109,973$18,093,514$10,773,698$74,891,180
88$103,639,514$18,910,420$11,064,941$82,149,033
89$114,138,873$19,765,160$11,363,746$90,132,538
90$125,706,903$20,659,518$11,670,296$98,915,115
91$138,452,537$21,595,364$11,984,781$108,577,647
92$152,495,817$22,574,658$12,307,392$119,209,239
93$167,969,027$23,599,452$12,638,326$130,908,058
94$185,017,941$24,671,899$12,977,783$143,782,256
95$203,803,201$25,794,252$13,325,969$157,950,984
96$224,501,830$26,968,873$13,683,092$173,545,514
97$247,308,907$28,198,237$14,049,365$190,710,477
98$272,439,404$29,484,939$14,425,007$209,605,218
99$300,130,218$30,831,697$14,810,240$230,405,302
100$330,642,409$32,241,359$15,205,292$253,304,161