Can I retire at age 56 with 5,600,000?

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 $5,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$462,443$458,324$454,305$450,382$446,552$443,738
2 years$228,932$224,668$220,536$216,530$212,644$209,805
3 years$151,105$146,823$142,702$138,733$134,910$132,135
4 years$112,200$107,931$103,850$99,949$96,219$93,528
5 years$88,862$84,619$80,592$76,771$73,144$70,546
6 years$73,309$69,098$65,130$61,394$57,876$55,375
7 years$62,204$58,028$54,124$50,475$47,069$44,664
8 years$53,879$49,741$45,901$42,343$39,048$36,741
9 years$47,408$43,308$39,535$36,066$32,884$30,674
10 years$42,233$38,174$34,467$31,090$28,019$25,904
11 years$38,003$33,984$30,344$27,057$24,097$22,077
12 years$34,480$30,502$26,930$23,733$20,882$18,954
13 years$31,501$27,565$24,060$20,953$18,210$16,372
14 years$28,950$25,056$21,618$18,599$15,963$14,213
15 years$26,741$22,889$19,518$16,587$14,055$12,391
16 years$24,810$21,000$17,696$14,852$12,422$10,842
17 years$23,108$19,341$16,103$13,345$11,014$9,515
18 years$21,597$17,872$14,700$12,026$9,793$8,373
19 years$20,247$16,563$13,457$10,867$8,729$7,384
20 years$19,033$15,391$12,350$9,842$7,797$6,525
21 years$17,936$14,336$11,360$8,932$6,977$5,776
22 years$16,940$13,383$10,470$8,121$6,254$5,120
23 years$16,032$12,516$9,667$7,396$5,614$4,545
24 years$15,201$11,727$8,940$6,746$5,046$4,039
25 years$14,438$11,005$8,280$6,161$4,541$3,593
26 years$13,734$10,343$7,680$5,633$4,090$3,200
27 years$13,084$9,734$7,131$5,156$3,687$2,851
28 years$12,481$9,172$6,629$4,724$3,327$2,542
29 years$11,921$8,653$6,169$4,332$3,004$2,269
30 years$11,399$8,172$5,746$3,976$2,715$2,025
31 years$10,912$7,725$5,357$3,651$2,454$1,809
32 years$10,456$7,310$4,998$3,356$2,220$1,616
33 years$10,029$6,922$4,667$3,086$2,009$1,445
34 years$9,627$6,561$4,361$2,839$1,819$1,292
35 years$9,250$6,223$4,077$2,614$1,648$1,156
36 years$8,894$5,906$3,814$2,407$1,493$1,034
37 years$8,558$5,610$3,570$2,218$1,353$926
38 years$8,241$5,331$3,343$2,044$1,227$829
39 years$7,941$5,069$3,132$1,885$1,112$742
40 years$7,656$4,823$2,936$1,739$1,009$664
41 years$7,386$4,591$2,753$1,604$915$595
42 years$7,130$4,372$2,582$1,480$831$533
43 years$6,886$4,166$2,423$1,367$754$478
44 years$6,654$3,971$2,274$1,262$684$428
45 years$6,432$3,787$2,135$1,165$621$383
46 years$6,221$3,613$2,006$1,076$564$344
47 years$6,020$3,447$1,884$994$512$308
48 years$5,828$3,291$1,771$919$465$276
49 years$5,644$3,143$1,664$849$422$247
50 years$5,468$3,002$1,565$785$384$222

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $5,600,000, adding $2,861 every year, while hoping to spend $52,938 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: 44/27/29 Blend
55$5,600,000$5,600,000$5,600,000$5,600,000
56$6,174,151$5,877,351$5,790,551$6,393,679
57$6,747,589$6,109,016$5,928,209$6,782,621
58$7,377,743$6,350,258$6,068,704$7,198,726
59$8,070,343$6,601,490$6,212,076$7,648,805
60$8,831,700$6,863,145$6,358,362$8,136,053
61$9,668,768$7,135,674$6,507,602$8,663,980
62$10,589,209$7,419,549$6,659,833$9,236,448
63$11,601,463$7,715,261$6,815,092$9,857,698
64$12,714,829$8,023,326$6,973,415$10,532,397
65$13,939,555$8,344,282$7,134,837$11,265,676
66$15,286,928$8,678,691$7,299,393$12,063,179
67$16,769,388$9,027,140$7,467,117$12,931,114
68$18,400,640$9,390,244$7,638,039$13,876,310
69$20,195,784$9,768,644$7,812,192$14,906,279
70$22,171,458$10,163,012$7,989,604$16,029,288
71$24,345,996$10,574,049$8,170,305$17,254,435
72$26,739,597$11,002,487$8,354,320$18,591,728
73$29,374,521$11,449,093$8,541,674$20,052,187
74$32,275,292$11,914,670$8,732,391$21,647,937
75$35,468,936$12,400,053$8,926,491$23,392,324
76$38,985,231$12,906,119$9,123,992$25,300,043
77$42,856,990$13,433,784$9,324,911$27,387,267
78$47,120,369$13,984,006$9,529,261$29,671,805
79$51,815,210$14,557,785$9,737,055$32,173,260
80$56,985,415$15,156,169$9,948,299$34,913,220
81$62,679,359$15,780,254$10,162,999$37,915,454
82$68,950,350$16,431,183$10,381,156$41,206,133
83$75,857,131$17,110,156$10,602,770$44,814,081
84$83,464,429$17,818,424$10,827,833$48,771,034
85$91,843,572$18,557,298$11,056,337$53,111,949
86$101,073,160$19,328,149$11,288,268$57,875,319
87$111,239,804$20,132,411$11,523,607$63,103,543
88$122,438,947$20,971,582$11,762,331$68,843,317
89$134,775,763$21,847,232$12,004,411$75,146,072
90$148,366,147$22,761,003$12,249,815$82,068,460
91$163,337,812$23,714,610$12,498,503$89,672,882
92$179,831,495$24,709,852$12,750,428$98,028,073
93$198,002,280$25,748,607$13,005,540$107,209,746
94$218,021,065$26,832,842$13,263,779$117,301,309
95$240,076,178$27,964,615$13,525,080$128,394,639
96$264,375,146$29,146,080$13,789,368$140,590,951
97$291,146,662$30,379,489$14,056,563$154,001,748
98$320,642,738$31,667,200$14,326,574$168,749,866
99$353,141,086$33,011,681$14,599,303$184,970,632
100$388,947,738$34,415,515$14,874,641$202,813,135