Can I retire at age 56 with 5,000,000?

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 $5,000,000?

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$412,895$409,217$405,629$402,127$398,707$389,702
2 years$204,404$200,597$196,907$193,330$189,860$180,836
3 years$134,915$131,092$127,412$123,869$120,455$111,694
4 years$100,178$96,367$92,723$89,240$85,910$77,478
5 years$79,341$75,553$71,957$68,545$65,307$57,230
6 years$65,455$61,694$58,152$54,816$51,675$43,960
7 years$55,539$51,811$48,325$45,067$42,026$34,674
8 years$48,106$44,411$40,983$37,806$34,865$27,874
9 years$42,328$38,668$35,299$32,202$29,361$22,726
10 years$37,708$34,084$30,774$27,759$25,017$18,730
11 years$33,931$30,343$27,093$24,158$21,515$15,569
12 years$30,785$27,234$24,044$21,190$18,645$13,029
13 years$28,126$24,612$21,482$18,708$16,259$10,963
14 years$25,848$22,371$19,302$16,607$14,252$9,266
15 years$23,876$20,437$17,427$14,810$12,549$7,861
16 years$22,152$18,750$15,800$13,261$11,091$6,689
17 years$20,632$17,268$14,377$11,915$9,834$5,707
18 years$19,283$15,957$13,125$10,738$8,744$4,879
19 years$18,077$14,789$12,015$9,702$7,793$4,179
20 years$16,993$13,742$11,027$8,787$6,961$3,585
21 years$16,014$12,800$10,143$7,975$6,230$3,079
22 years$15,125$11,949$9,348$7,251$5,584$2,648
23 years$14,314$11,175$8,631$6,604$5,012$2,279
24 years$13,572$10,471$7,982$6,023$4,505$1,963
25 years$12,891$9,826$7,393$5,501$4,054$1,692
26 years$12,263$9,235$6,857$5,029$3,652$1,460
27 years$11,682$8,691$6,367$4,604$3,292$1,260
28 years$11,144$8,190$5,919$4,218$2,971$1,088
29 years$10,644$7,726$5,508$3,868$2,683$939
30 years$10,178$7,296$5,131$3,550$2,424$812
31 years$9,743$6,898$4,783$3,260$2,191$702
32 years$9,336$6,526$4,463$2,996$1,982$606
33 years$8,954$6,181$4,167$2,755$1,794$524
34 years$8,596$5,858$3,893$2,535$1,624$453
35 years$8,259$5,556$3,640$2,334$1,471$392
36 years$7,941$5,274$3,405$2,149$1,333$339
37 years$7,641$5,009$3,187$1,980$1,208$294
38 years$7,358$4,760$2,985$1,825$1,095$254
39 years$7,090$4,526$2,796$1,683$993$220
40 years$6,836$4,306$2,621$1,552$901$190
41 years$6,595$4,099$2,458$1,432$817$165
42 years$6,366$3,904$2,305$1,322$742$142
43 years$6,148$3,720$2,163$1,220$673$123
44 years$5,941$3,546$2,031$1,127$611$107
45 years$5,743$3,381$1,907$1,040$555$92
46 years$5,555$3,225$1,791$961$504$80
47 years$5,375$3,078$1,682$888$457$69
48 years$5,203$2,938$1,581$820$415$60
49 years$5,039$2,806$1,486$758$377$52
50 years$4,882$2,680$1,397$701$343$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $5,000,000, adding $5,801 every year, while hoping to spend $40,633 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: 51/23/26 Blend
55$5,000,000$5,000,000$5,000,000$5,000,000
56$5,515,984$5,250,984$5,173,484$5,756,734
57$6,035,381$5,465,049$5,303,562$6,138,790
58$6,606,395$5,688,241$5,436,637$6,549,417
59$7,234,247$5,920,965$5,572,764$6,995,112
60$7,924,692$6,163,644$5,712,003$7,479,226
61$8,684,067$6,416,719$5,854,412$8,005,444
62$9,519,356$6,680,653$6,000,049$8,577,818
63$10,438,255$6,955,929$6,148,975$9,200,806
64$11,449,242$7,243,054$6,301,250$9,879,311
65$12,561,656$7,542,556$6,456,934$10,618,727
66$13,785,792$7,854,988$6,616,089$11,424,988
67$15,132,989$8,180,929$6,778,774$12,304,624
68$16,615,744$8,520,984$6,945,052$13,264,821
69$18,247,824$8,875,786$7,114,986$14,313,487
70$20,044,400$9,245,998$7,288,636$15,459,323
71$22,022,188$9,632,311$7,466,065$16,711,910
72$24,199,609$10,035,452$7,647,336$18,081,790
73$26,596,958$10,456,179$7,832,510$19,580,571
74$29,236,600$10,895,284$8,021,652$21,221,031
75$32,143,179$11,353,597$8,214,822$23,017,236
76$35,343,848$11,831,989$8,412,084$24,984,675
77$38,868,530$12,331,366$8,613,498$27,140,401
78$42,750,198$12,852,681$8,819,128$29,503,191
79$47,025,184$13,396,928$9,029,035$32,093,721
80$51,733,524$13,965,149$9,243,279$34,934,760
81$56,919,336$14,558,433$9,461,921$38,051,383
82$62,631,233$15,177,922$9,685,020$41,471,204
83$68,922,787$15,824,808$9,912,637$45,224,633
84$75,853,030$16,500,342$10,144,828$49,345,166
85$83,487,011$17,205,830$10,381,652$53,869,692
86$91,896,412$17,942,643$10,623,164$58,838,845
87$101,160,225$18,712,211$10,869,419$64,297,379
88$111,365,494$19,516,035$11,120,470$70,294,591
89$122,608,138$20,355,685$11,376,370$76,884,784
90$134,993,858$21,232,803$11,637,168$84,127,772
91$148,639,132$22,149,111$11,902,913$92,089,448
92$163,672,314$23,106,408$12,173,652$100,842,396
93$180,234,849$24,106,581$12,449,428$110,466,577
94$198,482,603$25,151,603$12,730,283$121,050,081
95$218,587,338$26,243,540$13,016,257$132,689,948
96$240,738,330$27,384,557$13,307,385$145,493,090
97$265,144,158$28,576,920$13,603,701$159,577,286
98$292,034,673$29,822,999$13,905,235$175,072,299
99$321,663,162$31,125,279$14,212,014$192,121,088
100$354,308,748$32,486,361$14,524,060$210,881,159