Can I retire at age 56 with 4,800,000?

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 $4,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$396,380$392,849$389,404$386,042$382,759$372,900
2 years$196,227$192,573$189,031$185,597$182,266$172,400
3 years$129,519$125,849$122,316$118,914$115,637$106,071
4 years$96,171$92,512$89,014$85,671$82,473$73,281
5 years$76,168$72,531$69,079$65,803$62,695$53,903
6 years$62,836$59,227$55,826$52,623$49,608$41,224
7 years$53,318$49,738$46,392$43,265$40,345$32,369
8 years$46,182$42,635$39,344$36,294$33,470$25,900
9 years$40,635$37,121$33,887$30,914$28,187$21,015
10 years$36,200$32,721$29,543$26,648$24,016$17,234
11 years$32,574$29,129$26,009$23,192$20,655$14,252
12 years$29,554$26,145$23,083$20,342$17,899$11,865
13 years$27,001$23,627$20,623$17,959$15,608$9,930
14 years$24,814$21,477$18,530$15,942$13,682$8,347
15 years$22,921$19,619$16,730$14,218$12,047$7,042
16 years$21,266$18,000$15,168$12,730$10,647$5,958
17 years$19,807$16,578$13,802$11,438$9,440$5,054
18 years$18,512$15,318$12,600$10,308$8,394$4,295
19 years$17,354$14,197$11,534$9,314$7,482$3,657
20 years$16,314$13,193$10,586$8,436$6,683$3,118
21 years$15,373$12,288$9,737$7,656$5,980$2,662
22 years$14,520$11,471$8,974$6,961$5,361$2,275
23 years$13,742$10,728$8,286$6,340$4,812$1,946
24 years$13,029$10,052$7,663$5,782$4,325$1,666
25 years$12,375$9,433$7,098$5,281$3,892$1,427
26 years$11,772$8,866$6,583$4,828$3,506$1,223
27 years$11,215$8,344$6,113$4,419$3,161$1,048
28 years$10,698$7,862$5,682$4,049$2,852$899
29 years$10,218$7,417$5,288$3,713$2,575$772
30 years$9,771$7,005$4,926$3,408$2,327$662
31 years$9,353$6,622$4,592$3,130$2,104$569
32 years$8,962$6,265$4,284$2,876$1,903$488
33 years$8,596$5,933$4,000$2,645$1,722$419
34 years$8,252$5,624$3,738$2,434$1,559$360
35 years$7,928$5,334$3,494$2,240$1,412$310
36 years$7,624$5,063$3,269$2,063$1,280$266
37 years$7,336$4,808$3,060$1,901$1,160$229
38 years$7,064$4,570$2,865$1,752$1,051$196
39 years$6,806$4,345$2,684$1,616$953$169
40 years$6,562$4,134$2,516$1,490$865$145
41 years$6,331$3,935$2,359$1,375$785$125
42 years$6,111$3,748$2,213$1,269$712$107
43 years$5,902$3,571$2,077$1,171$646$92
44 years$5,703$3,404$1,949$1,082$586$79
45 years$5,513$3,246$1,830$999$532$68
46 years$5,333$3,096$1,719$923$483$59
47 years$5,160$2,955$1,615$852$439$50
48 years$4,995$2,821$1,518$788$399$43
49 years$4,837$2,694$1,427$728$362$37
50 years$4,686$2,573$1,341$673$329$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $4,800,000, adding $2,074 every year, while hoping to spend $28,767 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: 61/33/6 Blend
55$4,800,000$4,800,000$4,800,000$4,800,000
56$5,291,739$5,037,339$4,962,939$5,608,569
57$5,800,889$5,253,561$5,098,590$6,036,723
58$6,361,008$5,479,414$5,237,821$6,500,141
59$6,977,264$5,715,338$5,380,721$7,005,012
60$7,655,352$5,961,798$5,527,383$7,555,330
61$8,401,548$6,219,275$5,677,900$8,155,487
62$9,222,764$6,488,277$5,832,367$8,810,312
63$10,126,618$6,769,335$5,990,884$9,525,114
64$11,121,503$7,063,003$6,153,549$10,305,736
65$12,216,669$7,369,863$6,320,466$11,158,601
66$13,422,307$7,690,524$6,491,739$12,090,778
67$14,749,645$8,025,622$6,667,474$13,110,042
68$16,211,056$8,375,825$6,847,783$14,224,948
69$17,820,176$8,741,833$7,032,775$15,444,912
70$19,592,027$9,124,375$7,222,566$16,780,291
71$21,543,163$9,524,220$7,417,272$18,242,488
72$23,691,828$9,942,168$7,617,012$19,844,050
73$26,058,120$10,379,061$7,821,908$21,598,788
74$28,664,191$10,835,777$8,032,085$23,521,903
75$31,534,448$11,313,240$8,247,669$25,630,129
76$34,695,786$11,812,412$8,468,790$27,941,890
77$38,177,842$12,334,307$8,695,581$30,477,465
78$42,013,276$12,879,981$8,928,176$33,259,183
79$46,238,074$13,450,545$9,166,714$36,311,630
80$50,891,894$14,047,158$9,411,336$39,661,873
81$56,018,436$14,671,038$9,662,185$43,339,719
82$61,665,856$15,323,458$9,919,407$47,377,989
83$67,887,220$16,005,753$10,183,153$51,812,827
84$74,741,002$16,719,322$10,453,575$56,684,036
85$82,291,644$17,465,628$10,730,829$62,035,448
86$90,610,153$18,246,205$11,015,073$67,915,339
87$99,774,780$19,062,660$11,306,470$74,376,877
88$109,871,754$19,916,677$11,605,183$81,478,620
89$120,996,098$20,810,019$11,911,382$89,285,065
90$133,252,524$21,744,534$12,225,237$97,867,252
91$146,756,422$22,722,157$12,546,923$107,303,430
92$161,634,950$23,744,916$12,876,619$117,679,790
93$178,028,234$24,814,936$13,214,504$129,091,273
94$196,090,688$25,934,441$13,560,764$141,642,463
95$215,992,474$27,105,765$13,915,586$155,448,566
96$237,921,110$28,331,351$14,279,161$170,636,492
97$262,083,235$29,613,759$14,651,685$187,346,047
98$288,706,563$30,955,671$15,033,354$205,731,245
99$318,042,032$32,359,899$15,424,371$225,961,759
100$350,366,171$33,829,386$15,824,940$248,224,509