Can I retire at age 56 with 5,900,000?

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 $5,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$487,216$482,877$478,642$474,510$470,474$460,975
2 years$241,196$236,704$232,351$228,130$224,035$214,507
3 years$159,200$154,689$150,346$146,165$142,137$132,876
4 years$118,210$113,713$109,414$105,304$101,373$92,452
5 years$93,623$89,152$84,909$80,883$77,063$68,505
6 years$77,236$72,799$68,619$64,683$60,977$52,793
7 years$65,536$61,137$57,023$53,179$49,591$41,783
8 years$56,765$52,406$48,360$44,611$41,140$33,705
9 years$49,947$45,628$41,653$37,999$34,646$27,580
10 years$44,496$40,219$36,314$32,755$29,520$22,815
11 years$40,038$35,805$31,970$28,507$25,388$19,037
12 years$36,327$32,136$28,373$25,004$22,001$15,993
13 years$33,188$29,042$25,349$22,075$19,185$13,511
14 years$30,501$26,398$22,776$19,596$16,818$11,467
15 years$28,174$24,115$20,564$17,476$14,808$9,768
16 years$26,139$22,125$18,644$15,648$13,087$8,347
17 years$24,346$20,377$16,965$14,059$11,604$7,152
18 years$22,754$18,829$15,487$12,670$10,318$6,142
19 years$21,331$17,450$14,178$11,449$9,196$5,284
20 years$20,052$16,216$13,012$10,369$8,214$4,553
21 years$18,897$15,104$11,968$9,411$7,351$3,929
22 years$17,847$14,099$11,031$8,556$6,589$3,394
23 years$16,891$13,187$10,185$7,792$5,915$2,935
24 years$16,015$12,355$9,419$7,107$5,316$2,541
25 years$15,211$11,595$8,724$6,491$4,784$2,201
26 years$14,470$10,897$8,091$5,935$4,309$1,907
27 years$13,785$10,256$7,513$5,432$3,885$1,654
28 years$13,150$9,664$6,985$4,977$3,506$1,435
29 years$12,560$9,117$6,500$4,564$3,165$1,246
30 years$12,010$8,610$6,054$4,189$2,860$1,082
31 years$11,497$8,139$5,644$3,847$2,586$939
32 years$11,016$7,701$5,266$3,535$2,339$816
33 years$10,566$7,293$4,917$3,251$2,117$709
34 years$10,143$6,912$4,594$2,991$1,917$616
35 years$9,745$6,556$4,295$2,754$1,736$536
36 years$9,371$6,223$4,018$2,536$1,573$466
37 years$9,017$5,910$3,761$2,337$1,426$405
38 years$8,682$5,617$3,522$2,154$1,292$352
39 years$8,366$5,341$3,300$1,986$1,172$306
40 years$8,066$5,082$3,093$1,832$1,063$267
41 years$7,782$4,837$2,900$1,690$964$232
42 years$7,512$4,607$2,720$1,560$875$202
43 years$7,255$4,389$2,553$1,440$794$175
44 years$7,010$4,184$2,396$1,329$721$153
45 years$6,777$3,990$2,250$1,228$654$133
46 years$6,555$3,806$2,113$1,134$594$116
47 years$6,343$3,632$1,985$1,048$540$101
48 years$6,140$3,467$1,866$968$490$88
49 years$5,946$3,311$1,754$895$445$76
50 years$5,760$3,163$1,649$827$404$66

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $5,900,000, adding $4,856 every year, while hoping to spend $22,325 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: 64/9/27 Blend
55$5,900,000$5,900,000$5,900,000$5,900,000
56$6,506,809$6,194,109$6,102,659$6,876,430
57$7,146,750$6,473,867$6,283,344$7,406,864
58$7,851,216$6,766,584$6,469,335$7,983,304
59$8,626,767$7,072,873$6,660,784$8,612,684
60$9,480,627$7,393,374$6,857,850$9,300,207
61$10,420,760$7,728,759$7,060,697$10,051,595
62$11,455,940$8,079,730$7,269,492$10,873,152
63$12,595,834$8,447,025$7,484,409$11,771,813
64$13,851,096$8,831,416$7,705,623$12,755,214
65$15,233,465$9,233,712$7,933,319$13,831,763
66$16,755,877$9,654,763$8,167,683$15,010,714
67$18,432,585$10,095,455$8,408,910$16,302,260
68$20,279,298$10,556,721$8,657,197$17,717,621
69$22,313,322$11,039,537$8,912,750$19,269,154
70$24,553,732$11,544,925$9,175,778$20,970,466
71$27,021,544$12,073,957$9,446,497$22,836,542
72$29,739,917$12,627,757$9,725,131$24,883,882
73$32,734,373$13,207,502$10,011,907$27,130,663
74$36,033,035$13,814,425$10,307,061$29,596,901
75$39,666,892$14,449,819$10,610,836$32,304,642
76$43,670,095$15,115,041$10,923,479$35,278,169
77$48,080,276$15,811,509$11,245,247$38,544,229
78$52,938,904$16,540,713$11,576,402$42,132,283
79$58,291,677$17,304,213$11,917,217$46,074,785
80$64,188,953$18,103,644$12,267,968$50,407,481
81$70,686,224$18,940,720$12,628,942$55,169,753
82$77,844,641$19,817,237$13,000,434$60,404,981
83$85,731,592$20,735,080$13,382,747$66,160,953
84$94,421,336$21,696,221$13,776,191$72,490,318
85$103,995,706$22,702,729$14,181,086$79,451,074
86$114,544,878$23,756,772$14,597,763$87,107,118
87$126,168,226$24,860,625$15,026,559$95,528,846
88$138,975,259$26,016,669$15,467,822$104,793,814
89$153,086,652$27,227,403$15,921,911$114,987,468
90$168,635,388$28,495,444$16,389,193$126,203,948
91$185,768,014$29,823,536$16,870,046$138,546,975
92$204,646,019$31,214,557$17,364,861$152,130,826
93$225,447,366$32,671,523$17,874,036$167,081,409
94$248,368,164$34,197,595$18,397,984$183,537,451
95$273,624,527$35,796,087$18,937,126$201,651,803
96$301,454,607$37,470,474$19,491,899$221,592,879
97$332,120,848$39,224,398$20,062,748$243,546,243
98$365,912,457$41,061,677$20,650,133$267,716,357
99$403,148,143$42,986,314$21,254,527$294,328,510
100$444,179,116$45,002,505$21,876,416$323,630,935