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

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 $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%19.7%
1 years$495,474$491,061$486,755$482,552$478,448$459,829
2 years$245,284$240,716$236,289$231,996$227,833$209,298
3 years$161,899$157,311$152,895$148,642$144,546$126,681
4 years$120,214$115,640$111,268$107,088$103,092$86,032
5 years$95,210$90,663$86,349$82,254$78,369$62,157
6 years$78,545$74,033$69,782$65,779$62,010$46,659
7 years$66,647$62,173$57,990$54,081$50,431$35,933
8 years$57,728$53,294$49,180$45,367$41,837$28,180
9 years$50,794$46,402$42,359$38,643$35,233$22,396
10 years$45,250$40,901$36,929$33,310$30,020$17,978
11 years$40,717$36,412$32,512$28,990$25,819$14,544
12 years$36,942$32,681$28,853$25,428$22,374$11,838
13 years$33,751$29,534$25,779$22,449$19,510$9,681
14 years$31,018$26,846$23,162$19,928$17,103$7,948
15 years$28,651$24,524$20,912$17,772$15,059$6,546
16 years$26,582$22,500$18,960$15,913$13,309$5,404
17 years$24,759$20,722$17,253$14,298$11,801$4,471
18 years$23,140$19,148$15,750$12,885$10,492$3,705
19 years$21,693$17,746$14,418$11,643$9,352$3,074
20 years$20,392$16,491$13,232$10,545$8,354$2,554
21 years$19,217$15,360$12,171$9,570$7,475$2,124
22 years$18,150$14,338$11,218$8,701$6,701$1,768
23 years$17,177$13,410$10,357$7,925$6,015$1,472
24 years$16,287$12,565$9,579$7,228$5,406$1,226
25 years$15,469$11,791$8,872$6,601$4,865$1,022
26 years$14,715$11,082$8,228$6,035$4,382$852
27 years$14,018$10,429$7,641$5,524$3,951$711
28 years$13,373$9,828$7,103$5,061$3,565$593
29 years$12,773$9,271$6,610$4,641$3,219$495
30 years$12,213$8,756$6,157$4,260$2,909$413
31 years$11,691$8,277$5,740$3,912$2,630$345
32 years$11,203$7,832$5,355$3,595$2,379$288
33 years$10,745$7,417$5,000$3,306$2,153$240
34 years$10,315$7,029$4,672$3,042$1,949$201
35 years$9,911$6,667$4,368$2,800$1,765$168
36 years$9,529$6,328$4,086$2,579$1,599$140
37 years$9,170$6,010$3,825$2,376$1,450$117
38 years$8,830$5,712$3,582$2,190$1,314$98
39 years$8,508$5,432$3,356$2,020$1,192$82
40 years$8,203$5,168$3,145$1,863$1,081$68
41 years$7,914$4,919$2,949$1,719$981$57
42 years$7,639$4,685$2,766$1,586$890$48
43 years$7,378$4,464$2,596$1,464$808$40
44 years$7,129$4,255$2,437$1,352$733$33
45 years$6,892$4,057$2,288$1,248$666$28
46 years$6,666$3,871$2,149$1,153$604$23
47 years$6,450$3,694$2,019$1,065$549$19
48 years$6,244$3,526$1,897$985$498$16
49 years$6,047$3,367$1,783$910$453$14
50 years$5,858$3,217$1,677$841$411$11

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 $5,077 every year, while hoping to spend $41,390 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: 79/15/6 Blend
55$6,000,000$6,000,000$6,000,000$6,000,000
56$6,617,237$6,299,237$6,206,237$7,136,397
57$7,248,156$6,563,861$6,370,107$7,741,895
58$7,942,043$6,840,064$6,538,080$8,399,979
59$8,705,274$7,128,371$6,710,249$9,120,603
60$9,544,879$7,429,328$6,886,709$9,909,978
61$10,468,602$7,743,510$7,067,559$10,774,940
62$11,484,973$8,071,516$7,252,897$11,723,019
63$12,603,395$8,413,975$7,442,823$12,762,503
64$13,834,225$8,771,543$7,637,441$13,902,521
65$15,188,876$9,144,909$7,836,855$15,153,122
66$16,679,923$9,534,791$8,041,172$16,525,376
67$18,321,224$9,941,944$8,250,499$18,031,470
68$20,128,045$10,367,156$8,464,948$19,684,828
69$22,117,211$10,811,252$8,684,629$21,500,232
70$24,307,259$11,275,096$8,909,656$23,493,965
71$26,718,616$11,759,592$9,140,146$25,683,959
72$29,373,790$12,265,687$9,376,216$28,089,966
73$32,297,582$12,794,372$9,617,986$30,733,741
74$35,517,324$13,346,684$9,865,576$33,639,247
75$39,063,128$13,923,709$10,119,110$36,832,881
76$42,968,180$14,526,583$10,378,713$40,343,720
77$47,269,047$15,156,498$10,644,512$44,203,793
78$52,006,022$15,814,700$10,916,636$48,448,383
79$57,223,509$16,502,492$11,195,216$53,116,361
80$62,970,434$17,221,242$11,480,383$58,250,545
81$69,300,715$17,972,379$11,772,273$63,898,107
82$76,273,764$18,757,402$12,071,020$70,111,015
83$83,955,053$19,577,879$12,376,764$76,946,524
84$92,416,725$20,435,453$12,689,643$84,467,707
85$101,738,284$21,331,842$13,009,798$92,744,057
86$112,007,335$22,268,849$13,337,373$101,852,136
87$123,320,420$23,248,360$13,672,512$111,876,296
88$135,783,922$24,272,348$14,015,360$122,909,473
89$149,515,073$25,342,884$14,366,066$135,054,061
90$164,643,059$26,462,134$14,724,777$148,422,877
91$181,310,240$27,632,367$15,091,646$163,140,224
92$199,673,490$28,855,959$15,466,822$179,343,058
93$219,905,685$30,135,400$15,850,459$197,182,280
94$242,197,327$31,473,297$16,242,712$216,824,161
95$266,758,346$32,872,380$16,643,734$238,451,899
96$293,820,081$34,335,510$17,053,683$262,267,354
97$323,637,463$35,865,684$17,472,715$288,492,946
98$356,491,422$37,466,040$17,900,989$317,373,750
99$392,691,537$39,139,866$18,338,662$349,179,808
100$432,578,961$40,890,606$18,785,894$384,208,672