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

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 $4,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$396,380$392,849$389,404$386,042$382,759$368,008
2 years$196,227$192,573$189,031$185,597$182,266$167,581
3 years$129,519$125,849$122,316$118,914$115,637$101,480
4 years$96,171$92,512$89,014$85,671$82,473$68,952
5 years$76,168$72,531$69,079$65,803$62,695$49,843
6 years$62,836$59,227$55,826$52,623$49,608$37,436
7 years$53,318$49,738$46,392$43,265$40,345$28,847
8 years$46,182$42,635$39,344$36,294$33,470$22,636
9 years$40,635$37,121$33,887$30,914$28,187$18,001
10 years$36,200$32,721$29,543$26,648$24,016$14,459
11 years$32,574$29,129$26,009$23,192$20,655$11,705
12 years$29,554$26,145$23,083$20,342$17,899$9,533
13 years$27,001$23,627$20,623$17,959$15,608$7,802
14 years$24,814$21,477$18,530$15,942$13,682$6,410
15 years$22,921$19,619$16,730$14,218$12,047$5,283
16 years$21,266$18,000$15,168$12,730$10,647$4,364
17 years$19,807$16,578$13,802$11,438$9,440$3,613
18 years$18,512$15,318$12,600$10,308$8,394$2,997
19 years$17,354$14,197$11,534$9,314$7,482$2,489
20 years$16,314$13,193$10,586$8,436$6,683$2,069
21 years$15,373$12,288$9,737$7,656$5,980$1,722
22 years$14,520$11,471$8,974$6,961$5,361$1,434
23 years$13,742$10,728$8,286$6,340$4,812$1,195
24 years$13,029$10,052$7,663$5,782$4,325$997
25 years$12,375$9,433$7,098$5,281$3,892$831
26 years$11,772$8,866$6,583$4,828$3,506$694
27 years$11,215$8,344$6,113$4,419$3,161$579
28 years$10,698$7,862$5,682$4,049$2,852$484
29 years$10,218$7,417$5,288$3,713$2,575$404
30 years$9,771$7,005$4,926$3,408$2,327$337
31 years$9,353$6,622$4,592$3,130$2,104$282
32 years$8,962$6,265$4,284$2,876$1,903$236
33 years$8,596$5,933$4,000$2,645$1,722$197
34 years$8,252$5,624$3,738$2,434$1,559$165
35 years$7,928$5,334$3,494$2,240$1,412$138
36 years$7,624$5,063$3,269$2,063$1,280$115
37 years$7,336$4,808$3,060$1,901$1,160$96
38 years$7,064$4,570$2,865$1,752$1,051$80
39 years$6,806$4,345$2,684$1,616$953$67
40 years$6,562$4,134$2,516$1,490$865$56
41 years$6,331$3,935$2,359$1,375$785$47
42 years$6,111$3,748$2,213$1,269$712$39
43 years$5,902$3,571$2,077$1,171$646$33
44 years$5,703$3,404$1,949$1,082$586$27
45 years$5,513$3,246$1,830$999$532$23
46 years$5,333$3,096$1,719$923$483$19
47 years$5,160$2,955$1,615$852$439$16
48 years$4,995$2,821$1,518$788$399$13
49 years$4,837$2,694$1,427$728$362$11
50 years$4,686$2,573$1,341$673$329$9

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 $5,634 every year, while hoping to spend $30,009 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: 43/32/25 Blend
55$4,800,000$4,800,000$4,800,000$4,800,000
56$5,295,411$5,041,011$4,966,611$5,484,304
57$5,803,614$5,256,092$5,101,064$5,834,621
58$6,362,648$5,480,705$5,239,014$6,210,634
59$6,977,665$5,715,287$5,380,549$6,617,450
60$7,654,344$5,960,293$5,525,754$7,057,936
61$8,398,941$6,216,201$5,674,720$7,535,237
62$9,218,348$6,483,510$5,827,538$8,052,813
63$10,120,159$6,762,742$5,984,301$8,614,462
64$11,112,744$7,054,445$6,145,104$9,224,357
65$12,205,324$7,359,193$6,310,044$9,887,085
66$13,408,057$7,677,583$6,479,221$10,607,688
67$14,732,139$8,010,245$6,652,736$11,391,708
68$16,189,907$8,357,837$6,830,691$12,245,238
69$17,794,952$8,721,045$7,013,194$13,174,976
70$19,562,252$9,100,591$7,200,351$14,188,291
71$21,508,311$9,497,230$7,392,273$15,293,285
72$23,651,316$9,911,752$7,589,071$16,498,869
73$26,011,307$10,344,983$7,790,861$17,814,847
74$28,610,364$10,797,791$7,997,759$19,252,004
75$31,472,820$11,271,083$8,209,883$20,822,206
76$34,625,490$11,765,808$8,427,356$22,538,508
77$38,097,919$12,282,962$8,650,302$24,415,278
78$41,922,666$12,823,585$8,878,846$26,468,326
79$46,135,607$13,388,771$9,113,117$28,715,053
80$50,776,279$13,979,660$9,353,246$31,174,610
81$55,888,247$14,597,451$9,599,367$33,868,078
82$61,519,518$15,243,396$9,851,616$36,818,662
83$67,722,995$15,918,809$10,110,131$40,051,906
84$74,556,974$16,625,064$10,375,054$43,595,934
85$82,085,695$17,363,602$10,646,528$47,481,706
86$90,379,949$18,135,931$10,924,700$51,743,312
87$99,517,744$18,943,633$11,209,718$56,418,286
88$109,585,045$19,788,361$11,501,734$61,547,958
89$120,676,579$20,671,851$11,800,902$67,177,839
90$132,896,737$21,595,918$12,107,379$73,358,044
91$146,360,551$22,562,465$12,421,323$80,143,763
92$161,194,788$23,573,487$12,742,898$87,595,777
93$177,539,139$24,631,070$13,072,268$95,781,024
94$195,547,542$25,737,403$13,409,600$104,773,227
95$215,389,634$26,894,778$13,755,063$114,653,582
96$237,252,350$28,105,596$14,108,832$125,511,523
97$261,341,692$29,372,373$14,471,080$137,445,555
98$287,884,670$30,697,744$14,841,986$150,564,180
99$317,131,444$32,084,472$15,221,731$164,986,914
100$349,357,689$33,535,449$15,610,497$180,845,405