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%12.7%
1 years$462,443$458,324$454,305$450,382$446,552$441,521
2 years$228,932$224,668$220,536$216,530$212,644$207,579
3 years$151,105$146,823$142,702$138,733$134,910$129,969
4 years$112,200$107,931$103,850$99,949$96,219$91,439
5 years$88,862$84,619$80,592$76,771$73,144$68,540
6 years$73,309$69,098$65,130$61,394$57,876$53,454
7 years$62,204$58,028$54,124$50,475$47,069$42,829
8 years$53,879$49,741$45,901$42,343$39,048$34,991
9 years$47,408$43,308$39,535$36,066$32,884$29,008
10 years$42,233$38,174$34,467$31,090$28,019$24,321
11 years$38,003$33,984$30,344$27,057$24,097$20,575
12 years$34,480$30,502$26,930$23,733$20,882$17,531
13 years$31,501$27,565$24,060$20,953$18,210$15,026
14 years$28,950$25,056$21,618$18,599$15,963$12,942
15 years$26,741$22,889$19,518$16,587$14,055$11,193
16 years$24,810$21,000$17,696$14,852$12,422$9,713
17 years$23,108$19,341$16,103$13,345$11,014$8,453
18 years$21,597$17,872$14,700$12,026$9,793$7,376
19 years$20,247$16,563$13,457$10,867$8,729$6,449
20 years$19,033$15,391$12,350$9,842$7,797$5,649
21 years$17,936$14,336$11,360$8,932$6,977$4,956
22 years$16,940$13,383$10,470$8,121$6,254$4,354
23 years$16,032$12,516$9,667$7,396$5,614$3,830
24 years$15,201$11,727$8,940$6,746$5,046$3,372
25 years$14,438$11,005$8,280$6,161$4,541$2,972
26 years$13,734$10,343$7,680$5,633$4,090$2,622
27 years$13,084$9,734$7,131$5,156$3,687$2,314
28 years$12,481$9,172$6,629$4,724$3,327$2,044
29 years$11,921$8,653$6,169$4,332$3,004$1,806
30 years$11,399$8,172$5,746$3,976$2,715$1,597
31 years$10,912$7,725$5,357$3,651$2,454$1,412
32 years$10,456$7,310$4,998$3,356$2,220$1,250
33 years$10,029$6,922$4,667$3,086$2,009$1,106
34 years$9,627$6,561$4,361$2,839$1,819$979
35 years$9,250$6,223$4,077$2,614$1,648$867
36 years$8,894$5,906$3,814$2,407$1,493$768
37 years$8,558$5,610$3,570$2,218$1,353$680
38 years$8,241$5,331$3,343$2,044$1,227$603
39 years$7,941$5,069$3,132$1,885$1,112$534
40 years$7,656$4,823$2,936$1,739$1,009$474
41 years$7,386$4,591$2,753$1,604$915$420
42 years$7,130$4,372$2,582$1,480$831$372
43 years$6,886$4,166$2,423$1,367$754$330
44 years$6,654$3,971$2,274$1,262$684$293
45 years$6,432$3,787$2,135$1,165$621$260
46 years$6,221$3,613$2,006$1,076$564$230
47 years$6,020$3,447$1,884$994$512$204
48 years$5,828$3,291$1,771$919$465$181
49 years$5,644$3,143$1,664$849$422$161
50 years$5,468$3,002$1,565$785$384$142

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 $5,369 every year, while hoping to spend $22,220 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: 53/38/9 Blend
55$5,600,000$5,600,000$5,600,000$5,600,000
56$6,176,738$5,879,938$5,793,138$6,489,876
57$6,783,124$6,144,413$5,963,566$6,967,528
58$7,450,615$6,421,103$6,138,959$7,484,048
59$8,185,423$6,710,582$6,319,460$8,045,459
60$8,994,389$7,013,453$6,505,214$8,656,012
61$9,885,053$7,330,348$6,696,374$9,320,376
62$10,865,720$7,661,928$6,893,095$10,043,681
63$11,945,547$8,008,885$7,095,537$10,831,565
64$13,134,618$8,371,946$7,303,863$11,690,222
65$14,444,050$8,751,872$7,518,243$12,626,466
66$15,886,089$9,149,459$7,738,850$13,647,781
67$17,474,231$9,565,544$7,965,863$14,762,402
68$19,223,349$10,001,002$8,199,465$15,979,379
69$21,149,829$10,456,750$8,439,846$17,308,667
70$23,271,729$10,933,748$8,687,199$18,761,215
71$25,608,949$11,433,005$8,941,723$20,349,065
72$28,183,416$11,955,576$9,203,625$22,085,463
73$31,019,292$12,502,568$9,473,114$23,984,982
74$34,143,205$13,075,138$9,750,408$26,063,658
75$37,584,495$13,674,503$10,035,730$28,339,131
76$41,375,495$14,301,935$10,329,309$30,830,815
77$45,551,834$14,958,769$10,631,379$33,560,074
78$50,152,776$15,646,403$10,942,185$36,550,419
79$55,221,585$16,366,303$11,261,974$39,827,727
80$60,805,939$17,120,004$11,591,003$43,420,482
81$66,958,377$17,909,117$11,929,534$47,360,035
82$73,736,797$18,735,329$12,277,838$51,680,899
83$81,204,998$19,600,408$12,636,194$56,421,069
84$89,433,288$20,506,208$13,004,886$61,622,374
85$98,499,143$21,454,671$13,384,209$67,330,867
86$108,487,940$22,447,835$13,774,465$73,597,253
87$119,493,764$23,487,833$14,175,964$80,477,362
88$131,620,293$24,576,902$14,589,024$88,032,672
89$144,981,781$25,717,389$15,013,975$96,330,878
90$159,704,132$26,911,750$15,451,152$105,446,526
91$175,926,090$28,162,562$15,900,902$115,461,712
92$193,800,550$29,472,526$16,363,581$126,466,845
93$213,496,000$30,844,474$16,839,555$138,561,495
94$235,198,111$32,281,372$17,329,199$151,855,323
95$259,111,491$33,786,332$17,832,900$166,469,108
96$285,461,617$35,362,616$18,351,055$182,535,880
97$314,496,958$37,013,641$18,884,073$200,202,160
98$346,491,330$38,742,991$19,432,371$219,629,342
99$381,746,471$40,554,423$19,996,381$240,995,195
100$420,594,897$42,451,876$20,576,546$264,495,541