Can I retire at age 56 with 5,500,000?

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 $5,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$454,185$450,139$446,192$442,340$438,578$421,843
2 years$224,844$220,656$216,598$212,663$208,847$192,184
3 years$148,407$144,201$140,153$136,255$132,501$116,434
4 years$110,196$106,003$101,996$98,164$94,501$79,152
5 years$87,275$83,108$79,153$75,400$71,838$57,247
6 years$72,000$67,864$63,967$60,298$56,843$43,020
7 years$61,093$56,992$53,157$49,574$46,229$33,170
8 years$52,917$48,853$45,081$41,586$38,351$26,043
9 years$46,561$42,535$38,829$35,422$32,297$20,723
10 years$41,479$37,493$33,852$30,534$27,519$16,657
11 years$37,324$33,377$29,802$26,574$23,667$13,493
12 years$33,864$29,958$26,449$23,309$20,509$10,997
13 years$30,938$27,073$23,630$20,578$17,885$9,006
14 years$28,433$24,609$21,232$18,267$15,677$7,404
15 years$26,263$22,480$19,170$16,291$13,804$6,106
16 years$24,367$20,625$17,380$14,587$12,200$5,049
17 years$22,696$18,995$15,815$13,106$10,817$4,183
18 years$21,211$17,552$14,437$11,811$9,618$3,471
19 years$19,885$16,267$13,217$10,673$8,573$2,885
20 years$18,693$15,116$12,130$9,666$7,657$2,401
21 years$17,615$14,080$11,157$8,773$6,853$1,999
22 years$16,637$13,144$10,283$7,976$6,142$1,666
23 years$15,746$12,293$9,494$7,264$5,514$1,390
24 years$14,930$11,518$8,781$6,625$4,956$1,160
25 years$14,180$10,809$8,133$6,051$4,459$968
26 years$13,489$10,158$7,543$5,532$4,017$809
27 years$12,850$9,560$7,004$5,064$3,622$676
28 years$12,258$9,009$6,511$4,640$3,268$565
29 years$11,708$8,499$6,059$4,255$2,951$472
30 years$11,196$8,026$5,644$3,905$2,666$395
31 years$10,717$7,587$5,262$3,586$2,411$330
32 years$10,269$7,179$4,909$3,296$2,180$276
33 years$9,850$6,799$4,584$3,031$1,973$231
34 years$9,456$6,444$4,283$2,789$1,787$193
35 years$9,085$6,112$4,004$2,567$1,618$161
36 years$8,735$5,801$3,746$2,364$1,466$135
37 years$8,405$5,510$3,506$2,178$1,329$113
38 years$8,094$5,236$3,283$2,008$1,205$95
39 years$7,799$4,979$3,076$1,851$1,092$79
40 years$7,519$4,737$2,883$1,708$991$66
41 years$7,254$4,509$2,703$1,575$899$55
42 years$7,002$4,294$2,536$1,454$816$46
43 years$6,763$4,092$2,380$1,342$740$39
44 years$6,535$3,900$2,234$1,239$672$32
45 years$6,318$3,719$2,097$1,144$610$27
46 years$6,110$3,548$1,970$1,057$554$23
47 years$5,913$3,386$1,851$977$503$19
48 years$5,724$3,232$1,739$902$457$16
49 years$5,543$3,087$1,635$834$415$13
50 years$5,370$2,949$1,537$771$377$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $5,500,000, adding $5,079 every year, while hoping to spend $24,468 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: 59/11/30 Blend
55$5,500,000$5,500,000$5,500,000$5,500,000
56$6,066,239$5,774,739$5,689,489$6,374,124
57$6,658,962$6,031,667$5,854,053$6,842,536
58$7,311,322$6,300,365$6,023,310$7,350,232
59$8,029,377$6,581,383$6,197,391$7,903,562
60$8,819,801$6,875,299$6,376,432$8,506,972
61$9,689,949$7,182,716$6,560,570$9,165,358
62$10,647,923$7,504,269$6,749,948$9,884,104
63$11,702,653$7,840,620$6,944,713$10,669,139
64$12,863,977$8,192,464$7,145,015$11,526,987
65$14,142,738$8,560,530$7,351,008$12,464,828
66$15,550,881$8,945,580$7,562,851$13,490,567
67$17,101,571$9,348,413$7,780,706$14,612,905
68$18,809,313$9,769,867$8,004,742$15,841,423
69$20,690,091$10,210,819$8,235,129$17,186,667
70$22,761,518$10,672,187$8,472,044$18,660,251
71$25,043,004$11,154,935$8,715,668$20,274,961
72$27,555,936$11,660,072$8,966,188$22,044,876
73$30,323,881$12,188,655$9,223,795$23,985,501
74$33,372,809$12,741,792$9,488,684$26,113,910
75$36,731,338$13,320,643$9,761,058$28,448,907
76$40,431,005$13,926,424$10,041,124$31,011,200
77$44,506,559$14,560,410$10,329,093$33,823,596
78$48,996,294$15,223,937$10,625,184$36,911,215
79$53,942,410$15,918,403$10,929,621$40,301,725
80$59,391,407$16,645,276$11,242,635$44,025,600
81$65,394,528$17,406,093$11,564,461$48,116,409
82$72,008,242$18,202,463$11,895,342$52,611,126
83$79,294,773$19,036,074$12,235,527$57,550,483
84$87,322,694$19,908,696$12,585,271$62,979,345
85$96,167,568$20,822,182$12,944,837$68,947,139
86$105,912,665$21,778,474$13,314,494$75,508,313
87$116,649,747$22,779,608$13,694,519$82,722,849
88$128,479,931$23,827,719$14,085,196$90,656,826
89$141,514,649$24,925,043$14,486,815$99,383,043
90$155,876,696$26,073,922$14,899,676$108,981,703
91$171,701,390$27,276,815$15,324,086$119,541,165
92$189,137,848$28,536,296$15,760,359$131,158,778
93$208,350,397$29,855,063$16,208,820$143,941,794
94$229,520,122$31,235,945$16,669,800$158,008,382
95$252,846,575$32,681,907$17,143,638$173,488,734
96$278,549,661$34,196,056$17,630,686$190,526,295
97$306,871,713$35,781,650$18,131,301$209,279,112
98$338,079,779$37,442,102$18,645,851$229,921,322
99$372,468,143$39,180,992$19,174,713$252,644,794
100$410,361,104$41,002,070$19,718,276$277,660,933