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

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 $5,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$454,185$450,139$446,192$442,340$438,578$426,591
2 years$224,844$220,656$216,598$212,663$208,847$196,858
3 years$148,407$144,201$140,153$136,255$132,501$120,885
4 years$110,196$106,003$101,996$98,164$94,501$83,348
5 years$87,275$83,108$79,153$75,400$71,838$61,178
6 years$72,000$67,864$63,967$60,298$56,843$46,686
7 years$61,093$56,992$53,157$49,574$46,229$36,575
8 years$52,917$48,853$45,081$41,586$38,351$29,196
9 years$46,561$42,535$38,829$35,422$32,297$23,632
10 years$41,479$37,493$33,852$30,534$27,519$19,333
11 years$37,324$33,377$29,802$26,574$23,667$15,947
12 years$33,864$29,958$26,449$23,309$20,509$13,241
13 years$30,938$27,073$23,630$20,578$17,885$11,052
14 years$28,433$24,609$21,232$18,267$15,677$9,265
15 years$26,263$22,480$19,170$16,291$13,804$7,794
16 years$24,367$20,625$17,380$14,587$12,200$6,576
17 years$22,696$18,995$15,815$13,106$10,817$5,561
18 years$21,211$17,552$14,437$11,811$9,618$4,713
19 years$19,885$16,267$13,217$10,673$8,573$4,000
20 years$18,693$15,116$12,130$9,666$7,657$3,401
21 years$17,615$14,080$11,157$8,773$6,853$2,894
22 years$16,637$13,144$10,283$7,976$6,142$2,466
23 years$15,746$12,293$9,494$7,264$5,514$2,102
24 years$14,930$11,518$8,781$6,625$4,956$1,794
25 years$14,180$10,809$8,133$6,051$4,459$1,532
26 years$13,489$10,158$7,543$5,532$4,017$1,309
27 years$12,850$9,560$7,004$5,064$3,622$1,118
28 years$12,258$9,009$6,511$4,640$3,268$956
29 years$11,708$8,499$6,059$4,255$2,951$818
30 years$11,196$8,026$5,644$3,905$2,666$700
31 years$10,717$7,587$5,262$3,586$2,411$599
32 years$10,269$7,179$4,909$3,296$2,180$512
33 years$9,850$6,799$4,584$3,031$1,973$439
34 years$9,456$6,444$4,283$2,789$1,787$375
35 years$9,085$6,112$4,004$2,567$1,618$322
36 years$8,735$5,801$3,746$2,364$1,466$275
37 years$8,405$5,510$3,506$2,178$1,329$236
38 years$8,094$5,236$3,283$2,008$1,205$202
39 years$7,799$4,979$3,076$1,851$1,092$173
40 years$7,519$4,737$2,883$1,708$991$148
41 years$7,254$4,509$2,703$1,575$899$127
42 years$7,002$4,294$2,536$1,454$816$109
43 years$6,763$4,092$2,380$1,342$740$93
44 years$6,535$3,900$2,234$1,239$672$80
45 years$6,318$3,719$2,097$1,144$610$68
46 years$6,110$3,548$1,970$1,057$554$59
47 years$5,913$3,386$1,851$977$503$50
48 years$5,724$3,232$1,739$902$457$43
49 years$5,543$3,087$1,635$834$415$37
50 years$5,370$2,949$1,537$771$377$32

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 $6,744 every year, while hoping to spend $26,606 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: 42/30/28 Blend
55$5,500,000$5,500,000$5,500,000$5,500,000
56$6,067,956$5,776,456$5,691,206$6,272,800
57$6,658,579$6,031,194$5,853,553$6,675,669
58$7,308,554$6,297,522$6,020,447$7,108,673
59$8,023,907$6,575,981$6,192,012$7,577,106
60$8,811,276$6,867,135$6,368,375$8,084,258
61$9,677,979$7,171,577$6,549,668$8,633,739
62$10,632,076$7,489,927$6,736,025$9,229,513
63$11,682,449$7,822,835$6,927,584$9,875,937
64$12,838,886$8,170,982$7,124,485$10,577,795
65$14,112,172$8,535,080$7,326,875$11,340,346
66$15,514,191$8,915,875$7,534,902$12,169,368
67$17,058,036$9,314,151$7,748,719$13,071,213
68$18,758,138$9,730,727$7,968,484$14,052,861
69$20,630,396$10,166,460$8,194,355$15,121,988
70$22,692,330$10,622,250$8,426,500$16,287,036
71$24,963,247$11,099,040$8,665,087$17,557,285
72$27,464,421$11,597,816$8,910,291$18,942,942
73$30,219,295$12,119,612$9,162,288$20,455,235
74$33,253,701$12,665,511$9,421,263$22,106,514
75$36,596,106$13,236,649$9,687,403$23,910,366
76$40,277,878$13,834,213$9,960,900$25,881,740
77$44,333,583$14,459,451$10,241,952$28,037,084
78$48,801,312$15,113,668$10,530,761$30,394,496
79$53,723,039$15,798,231$10,827,534$32,973,895
80$59,145,018$16,514,573$11,132,486$35,797,201
81$65,118,219$17,264,196$11,445,833$38,888,542
82$71,698,809$18,048,674$11,767,801$42,274,474
83$78,948,684$18,869,655$12,098,618$45,984,230
84$86,936,048$19,728,866$12,438,520$50,049,990
85$95,736,063$20,628,119$12,787,749$54,507,182
86$105,431,555$21,569,311$13,146,552$59,394,809
87$116,113,795$22,554,428$13,515,183$64,755,814
88$127,883,362$23,585,556$13,893,902$70,637,482
89$140,851,093$24,664,876$14,282,975$77,091,875
90$155,139,127$25,794,677$14,682,678$84,176,324
91$170,882,059$26,977,357$15,093,288$91,953,960
92$188,228,211$28,215,429$15,515,095$100,494,308
93$207,341,029$29,511,526$15,948,391$109,873,930
94$228,400,631$30,868,408$16,393,480$120,177,150
95$251,605,504$32,288,969$16,850,670$131,496,833
96$277,174,376$33,776,239$17,320,278$143,935,262
97$305,348,284$35,333,396$17,802,628$157,605,094
98$336,392,847$36,963,770$18,298,055$172,630,411
99$370,600,776$38,670,853$18,806,898$189,147,890
100$408,294,632$40,458,303$19,329,506$207,308,077