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

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 $5,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$478,959$474,692$470,530$466,467$462,500$455,965
2 years$237,108$232,692$228,413$224,263$220,238$213,667
3 years$156,502$152,067$147,798$143,688$139,728$133,325
4 years$116,207$111,785$107,559$103,519$99,655$93,469
5 years$92,036$87,641$83,470$79,512$75,756$69,806
6 years$75,927$71,566$67,456$63,587$59,943$54,235
7 years$64,426$60,101$56,057$52,278$48,750$43,286
8 years$55,803$51,517$47,540$43,855$40,443$35,223
9 years$49,101$44,855$40,947$37,355$34,059$29,080
10 years$43,742$39,538$35,698$32,200$29,020$24,278
11 years$39,360$35,198$31,428$28,024$24,958$20,449
12 years$35,711$31,592$27,892$24,580$21,628$17,347
13 years$32,626$28,550$24,919$21,701$18,860$14,800
14 years$29,984$25,951$22,390$19,264$16,533$12,688
15 years$27,696$23,707$20,215$17,180$14,557$10,921
16 years$25,696$21,750$18,328$15,383$12,865$9,431
17 years$23,933$20,031$16,678$13,821$11,407$8,168
18 years$22,368$18,510$15,225$12,456$10,143$7,091
19 years$20,970$17,155$13,938$11,255$9,040$6,168
20 years$19,712$15,941$12,791$10,193$8,075$5,375
21 years$18,576$14,848$11,765$9,251$7,226$4,691
22 years$17,545$13,860$10,844$8,411$6,477$4,100
23 years$16,605$12,963$10,012$7,660$5,814$3,587
24 years$15,744$12,146$9,260$6,987$5,226$3,141
25 years$14,953$11,398$8,576$6,381$4,703$2,753
26 years$14,225$10,713$7,954$5,834$4,236$2,415
27 years$13,551$10,082$7,386$5,340$3,819$2,120
28 years$12,927$9,500$6,866$4,893$3,446$1,862
29 years$12,347$8,962$6,390$4,487$3,112$1,636
30 years$11,806$8,464$5,952$4,118$2,812$1,438
31 years$11,302$8,001$5,549$3,782$2,542$1,265
32 years$10,830$7,571$5,177$3,476$2,299$1,112
33 years$10,387$7,170$4,834$3,196$2,081$979
34 years$9,971$6,795$4,516$2,941$1,884$862
35 years$9,580$6,445$4,222$2,707$1,706$758
36 years$9,212$6,117$3,950$2,493$1,546$668
37 years$8,864$5,810$3,697$2,297$1,401$588
38 years$8,535$5,522$3,462$2,117$1,270$518
39 years$8,224$5,250$3,244$1,952$1,152$456
40 years$7,930$4,995$3,040$1,801$1,045$402
41 years$7,650$4,755$2,851$1,661$948$354
42 years$7,384$4,529$2,674$1,533$860$312
43 years$7,132$4,315$2,509$1,415$781$275
44 years$6,891$4,113$2,355$1,307$709$243
45 years$6,662$3,922$2,212$1,207$643$214
46 years$6,444$3,742$2,077$1,115$584$188
47 years$6,235$3,571$1,952$1,030$530$166
48 years$6,036$3,409$1,834$952$482$146
49 years$5,845$3,255$1,724$880$437$129
50 years$5,663$3,109$1,621$813$397$114

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 $6,195 every year, while hoping to spend $55,672 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: 63/7/30 Blend
55$5,800,000$5,800,000$5,800,000$5,800,000
56$6,397,990$6,090,590$6,000,690$6,749,118
57$6,991,351$6,329,794$6,142,479$7,227,692
58$7,643,368$6,578,854$6,287,151$7,743,651
59$8,359,966$6,838,193$6,434,746$8,306,111
60$9,147,672$7,108,254$6,585,299$8,919,648
61$10,013,677$7,389,500$6,738,849$9,589,299
62$10,965,901$7,682,415$6,895,429$10,320,611
63$12,013,074$7,987,504$7,055,077$11,119,692
64$13,164,810$8,305,294$7,217,825$11,993,267
65$14,431,706$8,636,338$7,383,707$12,948,742
66$15,825,433$8,981,212$7,552,754$13,994,274
67$17,358,854$9,340,519$7,724,998$15,138,847
68$19,046,139$9,714,886$7,900,468$16,392,354
69$20,902,903$10,104,974$8,079,192$17,765,692
70$22,946,350$10,511,468$8,261,195$19,270,865
71$25,195,436$10,935,088$8,446,504$20,921,094
72$27,671,048$11,376,585$8,635,139$22,730,942
73$30,396,202$11,836,745$8,827,123$24,716,453
74$33,396,257$12,316,387$9,022,474$26,895,297
75$36,699,155$12,816,371$9,221,207$29,286,945
76$40,335,689$13,337,593$9,423,338$31,912,842
77$44,339,786$13,880,991$9,628,876$34,796,616
78$48,748,830$14,447,547$9,837,830$37,964,298
79$53,604,019$15,038,284$10,050,205$41,444,564
80$58,950,745$15,654,276$10,266,003$45,269,010
81$64,839,030$16,296,644$10,485,223$49,472,444
82$71,323,992$16,966,561$10,707,858$54,093,219
83$78,466,368$17,665,251$10,933,901$59,173,590
84$86,333,088$18,393,999$11,163,336$64,760,112
85$94,997,902$19,154,144$11,396,148$70,904,081
86$104,542,081$19,947,090$11,632,311$77,662,017
87$115,055,179$20,774,303$11,871,800$85,096,193
88$126,635,882$21,637,319$12,114,580$93,275,225
89$139,392,937$22,537,743$12,360,613$102,274,718
90$153,446,178$23,477,253$12,609,855$112,177,978
91$168,927,656$24,457,607$12,862,254$123,076,797
92$185,982,890$25,480,643$13,117,752$135,072,318
93$204,772,232$26,548,282$13,376,284$148,275,991
94$225,472,389$27,662,537$13,637,779$162,810,622
95$248,278,084$28,825,512$13,902,156$178,811,527
96$273,403,896$30,039,410$14,169,325$196,427,817
97$301,086,286$31,306,534$14,439,191$215,823,797
98$331,585,829$32,629,296$14,711,645$237,180,516
99$365,189,671$34,010,218$14,986,572$260,697,479
100$402,214,240$35,451,942$15,263,845$286,594,524