Can I retire at age 56 with 6,100,000?

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 $6,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$503,732$499,245$494,868$490,595$486,423$479,351
2 years$249,372$244,728$240,227$235,863$231,630$224,521
3 years$164,597$159,933$155,443$151,120$146,955$140,029
4 years$122,217$117,567$113,123$108,873$104,810$98,120
5 years$96,796$92,174$87,788$83,625$79,675$73,241
6 years$79,855$75,267$70,946$66,876$63,044$56,873
7 years$67,758$63,209$58,956$54,982$51,272$45,366
8 years$58,690$54,182$49,999$46,123$42,535$36,894
9 years$51,640$47,175$43,064$39,287$35,820$30,441
10 years$46,004$41,583$37,545$33,866$30,521$25,399
11 years$41,396$37,019$33,054$29,473$26,249$21,380
12 years$37,558$33,226$29,334$25,852$22,747$18,125
13 years$34,313$30,026$26,208$22,823$19,836$15,454
14 years$31,535$27,293$23,548$20,260$17,388$13,240
15 years$29,129$24,933$21,261$18,068$15,310$11,388
16 years$27,025$22,875$19,276$16,178$13,531$9,828
17 years$25,171$21,067$17,540$14,536$11,997$8,505
18 years$23,525$19,467$16,012$13,100$10,667$7,378
19 years$22,054$18,042$14,658$11,837$9,508$6,414
20 years$20,732$16,766$13,453$10,721$8,493$5,585
21 years$19,537$15,616$12,374$9,730$7,600$4,871
22 years$18,452$14,577$11,405$8,846$6,812$4,253
23 years$17,463$13,634$10,530$8,057$6,115$3,718
24 years$16,558$12,774$9,739$7,348$5,496$3,254
25 years$15,727$11,988$9,020$6,711$4,946$2,850
26 years$14,960$11,267$8,365$6,136$4,455$2,498
27 years$14,252$10,603$7,768$5,616$4,017$2,191
28 years$13,596$9,991$7,221$5,146$3,624$1,922
29 years$12,985$9,426$6,720$4,719$3,273$1,688
30 years$12,417$8,902$6,260$4,331$2,957$1,482
31 years$11,886$8,415$5,836$3,977$2,673$1,302
32 years$11,390$7,962$5,445$3,655$2,418$1,145
33 years$10,924$7,540$5,084$3,361$2,189$1,007
34 years$10,487$7,147$4,750$3,093$1,982$885
35 years$10,076$6,778$4,441$2,847$1,795$779
36 years$9,688$6,434$4,154$2,622$1,626$685
37 years$9,322$6,111$3,888$2,416$1,474$603
38 years$8,977$5,807$3,641$2,227$1,336$531
39 years$8,650$5,522$3,412$2,053$1,212$467
40 years$8,340$5,254$3,198$1,894$1,099$411
41 years$8,046$5,001$2,998$1,747$997$362
42 years$7,766$4,763$2,813$1,613$905$319
43 years$7,501$4,538$2,639$1,489$821$281
44 years$7,248$4,326$2,477$1,374$745$247
45 years$7,007$4,125$2,326$1,269$677$218
46 years$6,777$3,935$2,185$1,172$614$192
47 years$6,558$3,755$2,053$1,083$558$169
48 years$6,348$3,585$1,929$1,001$507$149
49 years$6,148$3,423$1,813$925$460$131
50 years$5,956$3,270$1,704$855$418$115

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,100,000, adding $4,476 every year, while hoping to spend $54,969 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: 84/9/7 Blend
55$6,100,000$6,100,000$6,100,000$6,100,000
56$6,726,817$6,403,517$6,308,967$7,287,431
57$7,354,466$6,658,803$6,461,831$7,909,427
58$8,044,292$6,924,755$6,617,973$8,584,560
59$8,802,581$7,201,839$6,777,446$9,324,365
60$9,636,255$7,490,539$6,940,301$10,135,299
61$10,552,941$7,791,364$7,106,590$11,024,476
62$11,561,044$8,104,844$7,276,363$11,999,727
63$12,669,822$8,431,533$7,449,673$13,069,680
64$13,889,476$8,772,011$7,626,569$14,243,837
65$15,231,246$9,126,882$7,807,103$15,532,662
66$16,707,515$9,496,782$7,991,323$16,947,683
67$18,331,929$9,882,371$8,179,279$18,501,596
68$20,119,520$10,284,342$8,371,019$20,208,387
69$22,086,854$10,703,417$8,566,591$22,083,463
70$24,252,183$11,140,355$8,766,042$24,143,792
71$26,635,619$11,595,945$8,969,418$26,408,071
72$29,259,321$12,071,015$9,176,762$28,896,894
73$32,147,707$12,566,431$9,388,119$31,632,949
74$35,327,682$13,083,095$9,603,530$34,641,231
75$38,828,894$13,621,954$9,823,036$37,949,275
76$42,684,009$14,183,998$10,046,676$41,587,417
77$46,929,025$14,770,261$10,274,487$45,589,081
78$51,603,607$15,381,825$10,506,504$49,991,087
79$56,751,463$16,019,823$10,742,759$54,834,006
80$62,420,755$16,685,437$10,983,284$60,162,535
81$68,664,555$17,379,906$11,228,107$66,025,920
82$75,541,344$18,104,526$11,477,254$72,478,420
83$83,115,566$18,860,653$11,730,746$79,579,820
84$91,458,232$19,649,703$11,988,605$87,395,990
85$100,647,593$20,473,160$12,250,845$95,999,506
86$110,769,879$21,332,576$12,517,479$105,470,336
87$121,920,109$22,229,575$12,788,518$115,896,594
88$134,202,992$23,165,856$13,063,964$127,375,366
89$147,733,910$24,143,196$13,343,820$140,013,628
90$162,640,011$25,163,455$13,628,080$153,929,255
91$179,061,408$26,228,580$13,916,737$169,252,129
92$197,152,498$27,340,607$14,209,775$186,125,365
93$217,083,426$28,501,669$14,507,175$204,706,661
94$239,041,681$29,713,997$14,808,910$225,169,784
95$263,233,874$30,979,924$15,114,951$247,706,206
96$289,887,684$32,301,895$15,425,256$272,526,914
97$319,254,007$33,682,467$15,739,782$299,864,397
98$351,609,325$35,124,318$16,058,474$329,974,838
99$387,258,314$36,630,248$16,381,271$363,140,530
100$426,536,724$38,203,191$16,708,105$399,672,540