Can I retire at age 56 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$511,990$507,430$502,980$498,637$494,397$486,006
2 years$253,460$248,740$244,165$239,729$235,427$227,000
3 years$167,295$162,554$157,991$153,597$149,365$141,163
4 years$124,221$119,495$114,977$110,658$106,528$98,615
5 years$98,383$93,685$89,227$84,996$80,981$73,379
6 years$81,164$76,501$72,109$67,972$64,077$56,796
7 years$68,869$64,245$59,923$55,883$52,112$45,153
8 years$59,652$55,070$50,819$46,879$43,232$36,593
9 years$52,487$47,949$43,770$39,931$36,408$30,086
10 years$46,758$42,264$38,160$34,421$31,021$25,011
11 years$42,074$37,625$33,596$29,956$26,679$20,974
12 years$38,174$33,771$29,815$26,276$23,120$17,712
13 years$34,876$30,519$26,638$23,198$20,161$15,043
14 years$32,052$27,741$23,934$20,592$17,673$12,836
15 years$29,606$25,342$21,609$18,365$15,561$10,995
16 years$27,468$23,250$19,592$16,443$13,752$9,449
17 years$25,584$21,413$17,828$14,774$12,194$8,143
18 years$23,911$19,786$16,275$13,315$10,842$7,033
19 years$22,416$18,338$14,899$12,031$9,664$6,087
20 years$21,072$17,040$13,673$10,896$8,632$5,277
21 years$19,857$15,872$12,577$9,889$7,725$4,581
22 years$18,755$14,816$11,591$8,991$6,924$3,982
23 years$17,750$13,857$10,703$8,189$6,215$3,465
24 years$16,830$12,984$9,898$7,469$5,587$3,018
25 years$15,985$12,184$9,168$6,821$5,027$2,631
26 years$15,206$11,451$8,503$6,237$4,528$2,295
27 years$14,486$10,777$7,895$5,708$4,083$2,003
28 years$13,818$10,155$7,340$5,230$3,684$1,749
29 years$13,198$9,580$6,830$4,796$3,326$1,528
30 years$12,621$9,048$6,362$4,402$3,006$1,336
31 years$12,081$8,553$5,931$4,043$2,717$1,168
32 years$11,576$8,093$5,534$3,715$2,458$1,021
33 years$11,103$7,664$5,167$3,416$2,224$893
34 years$10,659$7,264$4,828$3,143$2,014$782
35 years$10,241$6,890$4,514$2,894$1,824$684
36 years$9,847$6,539$4,222$2,665$1,653$599
37 years$9,475$6,211$3,952$2,455$1,498$524
38 years$9,124$5,902$3,701$2,263$1,358$459
39 years$8,791$5,613$3,467$2,087$1,232$402
40 years$8,476$5,340$3,250$1,925$1,117$352
41 years$8,177$5,083$3,047$1,776$1,013$308
42 years$7,894$4,841$2,859$1,639$920$270
43 years$7,624$4,612$2,682$1,513$835$237
44 years$7,366$4,397$2,518$1,397$758$207
45 years$7,122$4,193$2,364$1,290$688$182
46 years$6,888$4,000$2,221$1,192$624$159
47 years$6,665$3,817$2,086$1,101$567$139
48 years$6,452$3,644$1,960$1,017$515$122
49 years$6,248$3,480$1,843$940$468$107
50 years$6,053$3,324$1,732$869$425$94

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,200,000, adding $6,186 every year, while hoping to spend $30,447 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: 48/34/18 Blend
55$6,200,000$6,200,000$6,200,000$6,200,000
56$6,838,781$6,510,181$6,414,081$7,132,117
57$7,503,941$6,796,784$6,596,557$7,622,904
58$8,235,927$7,096,411$6,784,126$8,151,927
59$9,041,523$7,409,667$6,976,926$8,725,723
60$9,928,205$7,737,186$7,175,099$9,348,499
61$10,904,207$8,079,634$7,378,790$10,024,876
62$11,978,607$8,437,707$7,588,150$10,759,931
63$13,161,404$8,812,133$7,803,332$11,559,242
64$14,463,617$9,203,678$8,024,494$12,428,939
65$15,897,388$9,613,140$8,251,796$13,375,761
66$17,476,096$10,041,358$8,485,406$14,407,115
67$19,214,483$10,489,210$8,725,492$15,531,143
68$21,128,794$10,957,615$8,972,230$16,756,798
69$23,236,929$11,447,536$9,225,798$18,093,927
70$25,558,613$11,959,983$9,486,380$19,553,357
71$28,115,582$12,496,013$9,754,164$21,146,997
72$30,931,787$13,056,733$10,029,344$22,887,947
73$34,033,620$13,643,303$10,312,117$24,790,619
74$37,450,163$14,256,939$10,602,687$26,870,868
75$41,213,465$14,898,914$10,901,262$29,146,139
76$45,358,840$15,570,563$11,208,057$31,635,628
77$49,925,204$16,273,283$11,523,289$34,360,459
78$54,955,440$17,008,539$11,847,184$37,343,879
79$60,496,803$17,777,865$12,179,972$40,611,474
80$66,601,365$18,582,869$12,521,890$44,191,408
81$73,326,511$19,425,236$12,873,180$48,114,679
82$80,735,473$20,306,730$13,234,089$52,415,412
83$88,897,934$21,229,202$13,604,874$57,131,172
84$97,890,680$22,194,590$13,985,794$62,303,316
85$107,798,329$23,204,924$14,377,117$67,977,379
86$118,714,126$24,262,333$14,779,118$74,203,493
87$130,740,825$25,369,046$15,192,077$81,036,859
88$143,991,661$26,527,401$15,616,284$88,538,260
89$158,591,413$27,739,847$16,052,032$96,774,629
90$174,677,587$29,008,949$16,499,624$105,819,672
91$192,401,711$30,337,397$16,959,372$115,754,560
92$211,930,766$31,728,010$17,431,591$126,668,682
93$233,448,763$33,183,742$17,916,609$138,660,487
94$257,158,480$34,707,688$18,414,758$151,838,403
95$283,283,372$36,303,092$18,926,380$166,321,851
96$312,069,688$37,973,356$19,451,825$182,242,363
97$343,788,787$39,722,041$19,991,453$199,744,816
98$378,739,707$41,552,884$20,545,629$218,988,788
99$417,251,980$43,469,799$21,114,731$240,150,058
100$459,688,752$45,476,888$21,699,144$263,422,249