Can I retire at age 56 with 6,000,000?

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 $6,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$495,474$491,061$486,755$482,552$478,448$460,193
2 years$245,284$240,716$236,289$231,996$227,833$209,655
3 years$161,899$157,311$152,895$148,642$144,546$127,019
4 years$120,214$115,640$111,268$107,088$103,092$86,348
5 years$95,210$90,663$86,349$82,254$78,369$62,452
6 years$78,545$74,033$69,782$65,779$62,010$46,931
7 years$66,647$62,173$57,990$54,081$50,431$36,185
8 years$57,728$53,294$49,180$45,367$41,837$28,411
9 years$50,794$46,402$42,359$38,643$35,233$22,607
10 years$45,250$40,901$36,929$33,310$30,020$18,171
11 years$40,717$36,412$32,512$28,990$25,819$14,719
12 years$36,942$32,681$28,853$25,428$22,374$11,996
13 years$33,751$29,534$25,779$22,449$19,510$9,825
14 years$31,018$26,846$23,162$19,928$17,103$8,077
15 years$28,651$24,524$20,912$17,772$15,059$6,661
16 years$26,582$22,500$18,960$15,913$13,309$5,508
17 years$24,759$20,722$17,253$14,298$11,801$4,563
18 years$23,140$19,148$15,750$12,885$10,492$3,787
19 years$21,693$17,746$14,418$11,643$9,352$3,147
20 years$20,392$16,491$13,232$10,545$8,354$2,619
21 years$19,217$15,360$12,171$9,570$7,475$2,181
22 years$18,150$14,338$11,218$8,701$6,701$1,818
23 years$17,177$13,410$10,357$7,925$6,015$1,516
24 years$16,287$12,565$9,579$7,228$5,406$1,265
25 years$15,469$11,791$8,872$6,601$4,865$1,056
26 years$14,715$11,082$8,228$6,035$4,382$882
27 years$14,018$10,429$7,641$5,524$3,951$737
28 years$13,373$9,828$7,103$5,061$3,565$616
29 years$12,773$9,271$6,610$4,641$3,219$515
30 years$12,213$8,756$6,157$4,260$2,909$431
31 years$11,691$8,277$5,740$3,912$2,630$360
32 years$11,203$7,832$5,355$3,595$2,379$301
33 years$10,745$7,417$5,000$3,306$2,153$252
34 years$10,315$7,029$4,672$3,042$1,949$211
35 years$9,911$6,667$4,368$2,800$1,765$176
36 years$9,529$6,328$4,086$2,579$1,599$147
37 years$9,170$6,010$3,825$2,376$1,450$123
38 years$8,830$5,712$3,582$2,190$1,314$103
39 years$8,508$5,432$3,356$2,020$1,192$86
40 years$8,203$5,168$3,145$1,863$1,081$72
41 years$7,914$4,919$2,949$1,719$981$60
42 years$7,639$4,685$2,766$1,586$890$51
43 years$7,378$4,464$2,596$1,464$808$42
44 years$7,129$4,255$2,437$1,352$733$35
45 years$6,892$4,057$2,288$1,248$666$30
46 years$6,666$3,871$2,149$1,153$604$25
47 years$6,450$3,694$2,019$1,065$549$21
48 years$6,244$3,526$1,897$985$498$17
49 years$6,047$3,367$1,783$910$453$15
50 years$5,858$3,217$1,677$841$411$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,000,000, adding $6,504 every year, while hoping to spend $57,606 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: 43/46/11 Blend
55$6,000,000$6,000,000$6,000,000$6,000,000
56$6,618,709$6,300,709$6,207,709$6,881,939
57$7,232,525$6,548,151$6,354,375$7,313,642
58$7,907,019$6,805,788$6,504,023$7,774,726
59$8,648,321$7,074,057$6,656,694$8,272,945
60$9,463,181$7,353,417$6,812,424$8,811,725
61$10,359,037$7,644,346$6,971,252$9,394,826
62$11,344,086$7,947,346$7,133,216$10,026,376
63$12,427,354$8,262,938$7,298,350$10,710,911
64$13,618,791$8,591,668$7,466,691$11,453,412
65$14,929,355$8,934,107$7,638,273$12,259,350
66$16,371,122$9,290,851$7,813,128$13,134,742
67$17,957,397$9,662,524$7,991,289$14,086,194
68$19,702,840$10,049,775$8,172,785$15,120,972
69$21,623,602$10,453,287$8,357,646$16,247,060
70$23,737,480$10,873,769$8,545,898$17,473,240
71$26,064,085$11,311,965$8,737,567$18,809,165
72$28,625,023$11,768,653$8,932,677$20,265,450
73$31,444,102$12,244,643$9,131,248$21,853,774
74$34,547,556$12,740,787$9,333,301$23,586,978
75$37,964,291$13,257,970$9,538,851$25,479,191
76$41,726,159$13,797,120$9,747,913$27,545,955
77$45,868,257$14,359,209$9,960,498$29,804,372
78$50,429,259$14,945,250$10,176,614$32,273,257
79$55,451,780$15,556,304$10,396,267$34,973,318
80$60,982,779$16,193,480$10,619,459$37,927,341
81$67,073,999$16,857,938$10,846,188$41,160,406
82$73,782,459$17,550,889$11,076,448$44,700,116
83$81,170,991$18,273,603$11,310,229$48,576,855
84$89,308,828$19,027,406$11,547,518$52,824,069
85$98,272,264$19,813,684$11,788,295$57,478,579
86$108,145,369$20,633,889$12,032,538$62,580,920
87$119,020,785$21,489,538$12,280,216$68,175,719
88$131,000,598$22,382,218$12,531,296$74,312,115
89$144,197,303$23,313,591$12,785,738$81,044,209
90$158,734,862$24,285,391$13,043,495$88,431,578
91$174,749,880$25,299,437$13,304,514$96,539,823
92$192,392,887$26,357,629$13,568,735$105,441,185
93$211,829,765$27,461,956$13,836,091$115,215,220
94$233,243,308$28,614,499$14,106,506$125,949,545
95$256,834,949$29,817,433$14,379,898$137,740,651
96$282,826,664$31,073,037$14,656,175$150,694,812
97$311,463,062$32,383,694$14,935,235$164,929,079
98$343,013,697$33,751,898$15,216,968$180,572,373
99$377,775,611$35,180,258$15,501,253$197,766,695
100$416,076,137$36,671,505$15,787,959$216,668,461