Can I retire at age 56 with 4,900,000?

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 $4,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$404,637$401,033$397,517$394,084$390,733$384,260
2 years$200,316$196,585$192,969$189,464$186,063$179,561
3 years$132,217$128,470$124,864$121,391$118,046$111,716
4 years$98,175$94,439$90,869$87,456$84,192$78,083
5 years$77,754$74,042$70,518$67,174$64,001$58,132
6 years$64,145$60,461$56,989$53,720$50,642$45,019
7 years$54,429$50,775$47,358$44,166$41,185$35,810
8 years$47,144$43,523$40,163$37,050$34,167$29,039
9 years$41,482$37,895$34,593$31,558$28,774$23,889
10 years$36,954$33,402$30,159$27,203$24,517$19,871
11 years$33,252$29,736$26,551$23,675$21,085$16,675
12 years$30,170$26,690$23,564$20,766$18,272$14,091
13 years$27,563$24,120$21,053$18,334$15,934$11,975
14 years$25,331$21,924$18,916$16,274$13,967$10,225
15 years$23,398$20,028$17,078$14,514$12,298$8,765
16 years$21,709$18,375$15,484$12,996$10,869$7,537
17 years$20,220$16,923$14,090$11,676$9,637$6,500
18 years$18,897$15,638$12,862$10,523$8,569$5,618
19 years$17,716$14,493$11,775$9,508$7,638$4,866
20 years$16,654$13,467$10,806$8,612$6,822$4,221
21 years$15,694$12,544$9,940$7,816$6,105$3,668
22 years$14,822$11,710$9,161$7,106$5,472$3,191
23 years$14,028$10,952$8,459$6,472$4,912$2,779
24 years$13,301$10,261$7,823$5,903$4,415$2,422
25 years$12,633$9,630$7,245$5,391$3,973$2,113
26 years$12,017$9,050$6,720$4,929$3,579$1,844
27 years$11,448$8,517$6,240$4,512$3,227$1,611
28 years$10,921$8,026$5,801$4,134$2,911$1,408
29 years$10,431$7,571$5,398$3,791$2,629$1,231
30 years$9,974$7,150$5,028$3,479$2,375$1,077
31 years$9,548$6,760$4,688$3,195$2,148$942
32 years$9,149$6,396$4,374$2,936$1,943$825
33 years$8,775$6,057$4,084$2,700$1,758$722
34 years$8,424$5,741$3,816$2,484$1,592$633
35 years$8,094$5,445$3,567$2,287$1,442$554
36 years$7,782$5,168$3,337$2,106$1,306$485
37 years$7,489$4,908$3,123$1,941$1,184$425
38 years$7,211$4,665$2,925$1,789$1,073$373
39 years$6,948$4,436$2,740$1,649$973$327
40 years$6,699$4,220$2,569$1,521$883$286
41 years$6,463$4,017$2,408$1,404$801$251
42 years$6,238$3,826$2,259$1,295$727$220
43 years$6,025$3,645$2,120$1,196$660$193
44 years$5,822$3,475$1,990$1,104$599$169
45 years$5,628$3,314$1,869$1,020$544$148
46 years$5,444$3,161$1,755$942$493$130
47 years$5,268$3,017$1,649$870$448$114
48 years$5,099$2,880$1,549$804$407$100
49 years$4,938$2,750$1,456$743$370$88
50 years$4,784$2,627$1,369$687$336$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $4,900,000, adding $3,763 every year, while hoping to spend $24,050 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: 66/6/28 Blend
55$4,900,000$4,900,000$4,900,000$4,900,000
56$5,403,682$5,143,982$5,068,032$5,720,246
57$5,929,268$5,370,448$5,212,222$6,160,842
58$6,507,658$5,607,204$5,360,436$6,639,373
59$7,144,213$5,854,731$5,512,784$7,162,083
60$7,844,839$6,113,529$5,669,378$7,733,335
61$8,616,043$6,384,123$5,830,334$8,357,926
62$9,464,998$6,667,063$5,995,768$9,041,143
63$10,399,606$6,962,927$6,165,804$9,788,803
64$11,428,572$7,272,317$6,340,565$10,607,313
65$12,561,491$7,595,865$6,520,179$11,503,729
66$13,808,935$7,934,235$6,704,777$12,485,818
67$15,182,553$8,288,119$6,894,493$13,562,136
68$16,695,181$8,658,244$7,089,466$14,742,105
69$18,360,963$9,045,371$7,289,837$16,036,101
70$20,195,485$9,450,298$7,495,750$17,455,552
71$22,215,922$9,873,861$7,707,355$19,013,046
72$24,441,199$10,316,933$7,924,805$20,722,446
73$26,892,172$10,780,433$8,148,256$22,599,024
74$29,591,819$11,265,320$8,377,868$24,659,601
75$32,565,465$11,772,601$8,613,807$26,922,706
76$35,841,014$12,303,330$8,856,241$29,408,750
77$39,449,215$12,858,611$9,105,344$32,140,218
78$43,423,955$13,439,603$9,361,293$35,141,879
79$47,802,572$14,047,517$9,624,270$38,441,021
80$52,626,213$14,683,624$9,894,462$42,067,703
81$57,940,221$15,349,256$10,172,060$46,055,044
82$63,794,561$16,045,807$10,457,261$50,439,530
83$70,244,293$16,774,738$10,750,266$55,261,358
84$77,350,092$17,537,582$11,051,282$60,564,813
85$85,178,821$18,335,943$11,360,519$66,398,688
86$93,804,159$19,171,502$11,678,195$72,816,741
87$103,307,301$20,046,023$12,004,532$79,878,201
88$113,777,719$20,961,352$12,339,757$87,648,327
89$125,314,011$21,919,423$12,684,103$96,199,019
90$138,024,831$22,922,265$13,037,811$105,609,500
91$152,029,911$23,972,003$13,401,125$115,967,060
92$167,461,195$25,070,865$13,774,297$127,367,877
93$184,464,084$26,221,184$14,157,583$139,917,924
94$203,198,806$27,425,408$14,551,247$153,733,971
95$223,841,930$28,686,098$14,955,559$168,944,678
96$246,588,033$30,005,944$15,370,797$185,691,815
97$271,651,537$31,387,759$15,797,243$204,131,594
98$299,268,731$32,834,497$16,235,188$224,436,144
99$329,700,005$34,349,250$16,684,930$246,795,131
100$363,232,303$35,935,261$17,146,773$271,417,550