Can I retire at age 56 with 5,800,000?

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 $5,800,000?

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$478,959$474,692$470,530$466,467$462,500$452,054
2 years$237,108$232,692$228,413$224,263$220,238$209,770
3 years$156,502$152,067$147,798$143,688$139,728$129,565
4 years$116,207$111,785$107,559$103,519$99,655$89,875
5 years$92,036$87,641$83,470$79,512$75,756$66,386
6 years$75,927$71,566$67,456$63,587$59,943$50,994
7 years$64,426$60,101$56,057$52,278$48,750$40,222
8 years$55,803$51,517$47,540$43,855$40,443$32,333
9 years$49,101$44,855$40,947$37,355$34,059$26,362
10 years$43,742$39,538$35,698$32,200$29,020$21,727
11 years$39,360$35,198$31,428$28,024$24,958$18,060
12 years$35,711$31,592$27,892$24,580$21,628$15,113
13 years$32,626$28,550$24,919$21,701$18,860$12,717
14 years$29,984$25,951$22,390$19,264$16,533$10,749
15 years$27,696$23,707$20,215$17,180$14,557$9,118
16 years$25,696$21,750$18,328$15,383$12,865$7,759
17 years$23,933$20,031$16,678$13,821$11,407$6,620
18 years$22,368$18,510$15,225$12,456$10,143$5,660
19 years$20,970$17,155$13,938$11,255$9,040$4,847
20 years$19,712$15,941$12,791$10,193$8,075$4,158
21 years$18,576$14,848$11,765$9,251$7,226$3,572
22 years$17,545$13,860$10,844$8,411$6,477$3,071
23 years$16,605$12,963$10,012$7,660$5,814$2,644
24 years$15,744$12,146$9,260$6,987$5,226$2,277
25 years$14,953$11,398$8,576$6,381$4,703$1,963
26 years$14,225$10,713$7,954$5,834$4,236$1,693
27 years$13,551$10,082$7,386$5,340$3,819$1,461
28 years$12,927$9,500$6,866$4,893$3,446$1,262
29 years$12,347$8,962$6,390$4,487$3,112$1,090
30 years$11,806$8,464$5,952$4,118$2,812$942
31 years$11,302$8,001$5,549$3,782$2,542$814
32 years$10,830$7,571$5,177$3,476$2,299$703
33 years$10,387$7,170$4,834$3,196$2,081$608
34 years$9,971$6,795$4,516$2,941$1,884$526
35 years$9,580$6,445$4,222$2,707$1,706$455
36 years$9,212$6,117$3,950$2,493$1,546$394
37 years$8,864$5,810$3,697$2,297$1,401$340
38 years$8,535$5,522$3,462$2,117$1,270$295
39 years$8,224$5,250$3,244$1,952$1,152$255
40 years$7,930$4,995$3,040$1,801$1,045$221
41 years$7,650$4,755$2,851$1,661$948$191
42 years$7,384$4,529$2,674$1,533$860$165
43 years$7,132$4,315$2,509$1,415$781$143
44 years$6,891$4,113$2,355$1,307$709$124
45 years$6,662$3,922$2,212$1,207$643$107
46 years$6,444$3,742$2,077$1,115$584$93
47 years$6,235$3,571$1,952$1,030$530$80
48 years$6,036$3,409$1,834$952$482$70
49 years$5,845$3,255$1,724$880$437$60
50 years$5,663$3,109$1,621$813$397$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $5,800,000, adding $5,587 every year, while hoping to spend $32,139 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: 34/38/28 Blend
55$5,800,000$5,800,000$5,800,000$5,800,000
56$6,397,363$6,089,963$6,000,063$6,560,482
57$7,015,698$6,354,176$6,166,869$6,948,255
58$7,696,027$6,630,257$6,338,187$7,362,856
59$8,444,638$6,918,756$6,514,132$7,809,331
60$9,268,461$7,220,245$6,694,826$8,290,542
61$10,175,131$7,535,325$6,880,390$8,809,623
62$11,173,063$7,864,624$7,070,951$9,370,015
63$12,271,526$8,208,801$7,266,639$9,975,490
64$13,480,735$8,568,546$7,467,584$10,630,188
65$14,811,945$8,944,579$7,673,923$11,338,654
66$16,277,557$9,337,658$7,885,794$12,105,877
67$17,891,238$9,748,573$8,103,338$12,937,332
68$19,668,046$10,178,155$8,326,701$13,839,035
69$21,624,573$10,627,271$8,556,032$14,817,592
70$23,779,103$11,096,830$8,791,483$15,880,260
71$26,151,783$11,587,786$9,033,209$17,035,012
72$28,764,813$12,101,136$9,281,370$18,290,611
73$31,642,658$12,637,925$9,536,129$19,656,686
74$34,812,273$13,199,248$9,797,653$21,143,823
75$38,303,364$13,786,250$10,066,114$22,763,657
76$42,148,663$14,400,133$10,341,685$24,528,983
77$46,384,242$15,042,154$10,624,547$26,453,868
78$51,049,847$15,713,632$10,914,881$28,553,784
79$56,189,277$16,415,946$11,212,876$30,845,745
80$61,850,798$17,150,542$11,518,722$33,348,468
81$68,087,596$17,918,935$11,832,615$36,082,541
82$74,958,280$18,722,712$12,154,757$39,070,613
83$82,527,435$19,563,535$12,485,352$42,337,607
84$90,866,231$20,443,146$12,824,609$45,910,943
85$100,053,095$21,363,369$13,172,742$49,820,796
86$110,174,453$22,326,117$13,529,971$54,100,372
87$121,325,541$23,333,391$13,896,519$58,786,219
88$133,611,310$24,387,290$14,272,616$63,918,562
89$147,147,409$25,490,013$14,658,494$69,541,678
90$162,061,284$26,643,863$15,054,394$75,704,304
91$178,493,378$27,851,255$15,460,558$82,460,095
92$196,598,452$29,114,716$15,877,237$89,868,118
93$216,547,055$30,436,898$16,304,685$97,993,403
94$238,527,126$31,820,577$16,743,163$106,907,551
95$262,745,771$33,268,663$17,192,937$116,689,397
96$289,431,216$34,784,205$17,654,277$127,425,747
97$318,834,967$36,370,398$18,127,462$139,212,189
98$351,234,176$38,030,589$18,612,775$152,153,984
99$386,934,263$39,768,289$19,110,503$166,367,047
100$426,271,795$41,587,173$19,620,943$181,979,037