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%14.7%
1 years$495,474$491,061$486,755$482,552$478,448$469,172
2 years$245,284$240,716$236,289$231,996$227,833$218,524
3 years$161,899$157,311$152,895$148,642$144,546$135,497
4 years$120,214$115,640$111,268$107,088$103,092$94,370
5 years$95,210$90,663$86,349$82,254$78,369$70,000
6 years$78,545$74,033$69,782$65,779$62,010$54,004
7 years$66,647$62,173$57,990$54,081$50,431$42,789
8 years$57,728$53,294$49,180$45,367$41,837$34,557
9 years$50,794$46,402$42,359$38,643$35,233$28,310
10 years$45,250$40,901$36,929$33,310$30,020$23,449
11 years$40,717$36,412$32,512$28,990$25,819$19,590
12 years$36,942$32,681$28,853$25,428$22,374$16,479
13 years$33,751$29,534$25,779$22,449$19,510$13,940
14 years$31,018$26,846$23,162$19,928$17,103$11,847
15 years$28,651$24,524$20,912$17,772$15,059$10,106
16 years$26,582$22,500$18,960$15,913$13,309$8,649
17 years$24,759$20,722$17,253$14,298$11,801$7,421
18 years$23,140$19,148$15,750$12,885$10,492$6,382
19 years$21,693$17,746$14,418$11,643$9,352$5,499
20 years$20,392$16,491$13,232$10,545$8,354$4,745
21 years$19,217$15,360$12,171$9,570$7,475$4,101
22 years$18,150$14,338$11,218$8,701$6,701$3,548
23 years$17,177$13,410$10,357$7,925$6,015$3,073
24 years$16,287$12,565$9,579$7,228$5,406$2,664
25 years$15,469$11,791$8,872$6,601$4,865$2,311
26 years$14,715$11,082$8,228$6,035$4,382$2,007
27 years$14,018$10,429$7,641$5,524$3,951$1,743
28 years$13,373$9,828$7,103$5,061$3,565$1,515
29 years$12,773$9,271$6,610$4,641$3,219$1,317
30 years$12,213$8,756$6,157$4,260$2,909$1,145
31 years$11,691$8,277$5,740$3,912$2,630$996
32 years$11,203$7,832$5,355$3,595$2,379$867
33 years$10,745$7,417$5,000$3,306$2,153$755
34 years$10,315$7,029$4,672$3,042$1,949$657
35 years$9,911$6,667$4,368$2,800$1,765$572
36 years$9,529$6,328$4,086$2,579$1,599$498
37 years$9,170$6,010$3,825$2,376$1,450$434
38 years$8,830$5,712$3,582$2,190$1,314$378
39 years$8,508$5,432$3,356$2,020$1,192$329
40 years$8,203$5,168$3,145$1,863$1,081$287
41 years$7,914$4,919$2,949$1,719$981$250
42 years$7,639$4,685$2,766$1,586$890$218
43 years$7,378$4,464$2,596$1,464$808$190
44 years$7,129$4,255$2,437$1,352$733$166
45 years$6,892$4,057$2,288$1,248$666$144
46 years$6,666$3,871$2,149$1,153$604$126
47 years$6,450$3,694$2,019$1,065$549$110
48 years$6,244$3,526$1,897$985$498$96
49 years$6,047$3,367$1,783$910$453$83
50 years$5,858$3,217$1,677$841$411$73

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 $2,024 every year, while hoping to spend $47,487 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: 34/37/29 Blend
55$6,000,000$6,000,000$6,000,000$6,000,000
56$6,614,088$6,296,088$6,203,088$6,780,895
57$7,238,199$6,554,070$6,360,365$7,165,296
58$7,924,378$6,823,102$6,521,320$7,575,153
59$8,678,905$7,103,675$6,686,025$8,016,225
60$9,508,701$7,396,303$6,854,555$8,491,327
61$10,421,389$7,701,523$7,026,983$9,003,547
62$11,425,370$8,019,896$7,203,386$9,556,272
63$12,529,898$8,352,012$7,383,840$10,153,221
64$13,745,171$8,698,483$7,568,422$10,798,478
65$15,082,425$9,059,955$7,757,210$11,496,524
66$16,554,038$9,437,099$7,950,283$12,252,284
67$18,173,653$9,830,619$8,147,720$13,071,164
68$19,956,297$10,241,251$8,349,600$13,959,106
69$21,918,532$10,669,766$8,556,005$14,922,638
70$24,078,607$11,116,969$8,767,015$15,968,935
71$26,456,627$11,583,702$8,982,712$17,105,882
72$29,074,748$12,070,849$9,203,178$18,342,146
73$31,957,383$12,579,331$9,428,496$19,687,259
74$35,131,433$13,110,115$9,658,747$21,151,698
75$38,626,540$13,664,211$9,894,015$22,746,988
76$42,475,366$14,242,676$10,134,384$24,485,802
77$46,713,903$14,846,617$10,379,935$26,382,079
78$51,381,811$15,477,192$10,630,754$28,451,155
79$56,522,794$16,135,612$10,886,922$30,709,899
80$62,185,007$16,823,146$11,148,522$33,176,873
81$68,421,519$17,541,121$11,415,639$35,872,498
82$75,290,805$18,290,926$11,688,353$38,819,250
83$82,857,301$19,074,016$11,966,748$42,041,861
84$91,192,016$19,891,913$12,250,904$45,567,551
85$100,373,195$20,746,210$12,540,902$49,426,280
86$110,487,061$21,638,575$12,836,822$53,651,026
87$121,628,629$22,570,753$13,138,744$58,278,090
88$133,902,601$23,544,572$13,446,744$63,347,435
89$147,424,356$24,561,946$13,760,900$68,903,057
90$162,321,037$25,624,877$14,081,286$74,993,393
91$178,732,749$26,735,463$14,407,976$81,671,776
92$196,813,888$27,895,899$14,741,041$88,996,928
93$216,734,591$29,108,484$15,080,552$97,033,508
94$238,682,344$30,375,624$15,426,576$105,852,720
95$262,863,754$31,699,841$15,779,177$115,532,973
96$289,506,496$33,083,772$16,138,419$126,160,614
97$318,861,463$34,530,181$16,504,360$137,830,739
98$351,205,133$36,041,961$16,877,057$150,648,080
99$386,842,182$37,622,143$17,256,563$164,727,984
100$426,108,354$39,273,898$17,642,928$180,197,494