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%11%
1 years$511,990$507,430$502,980$498,637$494,397$492,313
2 years$253,460$248,740$244,165$239,729$235,427$233,324
3 years$167,295$162,554$157,991$153,597$149,365$147,307
4 years$124,221$119,495$114,977$110,658$106,528$104,531
5 years$98,383$93,685$89,227$84,996$80,981$79,051
6 years$81,164$76,501$72,109$67,972$64,077$62,217
7 years$68,869$64,245$59,923$55,883$52,112$50,322
8 years$59,652$55,070$50,819$46,879$43,232$41,512
9 years$52,487$47,949$43,770$39,931$36,408$34,758
10 years$46,758$42,264$38,160$34,421$31,021$29,441
11 years$42,074$37,625$33,596$29,956$26,679$25,168
12 years$38,174$33,771$29,815$26,276$23,120$21,675
13 years$34,876$30,519$26,638$23,198$20,161$18,782
14 years$32,052$27,741$23,934$20,592$17,673$16,359
15 years$29,606$25,342$21,609$18,365$15,561$14,309
16 years$27,468$23,250$19,592$16,443$13,752$12,562
17 years$25,584$21,413$17,828$14,774$12,194$11,063
18 years$23,911$19,786$16,275$13,315$10,842$9,769
19 years$22,416$18,338$14,899$12,031$9,664$8,646
20 years$21,072$17,040$13,673$10,896$8,632$7,668
21 years$19,857$15,872$12,577$9,889$7,725$6,813
22 years$18,755$14,816$11,591$8,991$6,924$6,062
23 years$17,750$13,857$10,703$8,189$6,215$5,401
24 years$16,830$12,984$9,898$7,469$5,587$4,818
25 years$15,985$12,184$9,168$6,821$5,027$4,303
26 years$15,206$11,451$8,503$6,237$4,528$3,846
27 years$14,486$10,777$7,895$5,708$4,083$3,441
28 years$13,818$10,155$7,340$5,230$3,684$3,080
29 years$13,198$9,580$6,830$4,796$3,326$2,760
30 years$12,621$9,048$6,362$4,402$3,006$2,474
31 years$12,081$8,553$5,931$4,043$2,717$2,218
32 years$11,576$8,093$5,534$3,715$2,458$1,991
33 years$11,103$7,664$5,167$3,416$2,224$1,787
34 years$10,659$7,264$4,828$3,143$2,014$1,604
35 years$10,241$6,890$4,514$2,894$1,824$1,441
36 years$9,847$6,539$4,222$2,665$1,653$1,295
37 years$9,475$6,211$3,952$2,455$1,498$1,164
38 years$9,124$5,902$3,701$2,263$1,358$1,046
39 years$8,791$5,613$3,467$2,087$1,232$941
40 years$8,476$5,340$3,250$1,925$1,117$846
41 years$8,177$5,083$3,047$1,776$1,013$761
42 years$7,894$4,841$2,859$1,639$920$685
43 years$7,624$4,612$2,682$1,513$835$616
44 years$7,366$4,397$2,518$1,397$758$554
45 years$7,122$4,193$2,364$1,290$688$499
46 years$6,888$4,000$2,221$1,192$624$449
47 years$6,665$3,817$2,086$1,101$567$404
48 years$6,452$3,644$1,960$1,017$515$364
49 years$6,248$3,480$1,843$940$468$328
50 years$6,053$3,324$1,732$869$425$295

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 $3,311 every year, while hoping to spend $50,128 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: 58/36/6 Blend
55$6,200,000$6,200,000$6,200,000$6,200,000
56$6,835,815$6,507,215$6,411,115$7,223,849
57$7,479,733$6,772,733$6,572,552$7,750,168
58$8,187,650$7,049,581$6,737,716$8,317,563
59$8,966,041$7,338,262$6,906,681$8,934,711
60$9,822,041$7,639,300$7,079,518$9,606,375
61$10,763,508$7,953,245$7,256,302$10,337,789
62$11,799,104$8,280,672$7,437,106$11,134,712
63$12,938,368$8,622,181$7,622,004$12,003,471
64$14,191,814$8,978,400$7,811,074$12,951,030
65$15,571,023$9,349,986$8,004,389$13,985,043
66$17,088,759$9,737,627$8,202,028$15,113,933
67$18,759,083$10,142,041$8,404,066$16,346,964
68$20,597,489$10,563,980$8,610,582$17,694,327
69$22,621,049$11,004,231$8,821,652$19,167,237
70$24,848,575$11,463,617$9,037,357$20,778,033
71$27,300,794$11,942,999$9,257,772$22,540,293
72$30,000,545$12,443,277$9,482,978$24,468,960
73$32,972,997$12,965,393$9,713,054$26,580,482
74$36,245,878$13,510,333$9,948,077$28,892,959
75$39,849,747$14,079,129$10,188,127$31,426,318
76$43,818,275$14,672,859$10,433,282$34,202,492
77$48,188,563$15,292,654$10,683,622$37,245,628
78$53,001,498$15,939,695$10,939,224$40,582,307
79$58,302,129$16,615,218$11,200,166$44,241,798
80$64,140,100$17,320,518$11,466,526$48,256,324
81$70,570,116$18,056,949$11,738,381$52,661,367
82$77,652,457$18,825,929$12,015,805$57,495,995
83$85,453,548$19,628,940$12,298,876$62,803,231
84$94,046,588$20,467,536$12,587,666$68,630,450
85$103,512,237$21,343,342$12,882,250$75,029,827
86$113,939,378$22,258,059$13,182,698$82,058,818
87$125,425,957$23,213,467$13,489,081$89,780,704
88$138,079,908$24,211,429$13,801,468$98,265,181
89$152,020,168$25,253,898$14,119,926$107,589,009
90$167,377,801$26,342,915$14,444,520$117,836,736
91$184,297,237$27,480,619$14,775,312$129,101,486
92$202,937,634$28,669,248$15,112,364$141,485,836
93$223,474,376$29,911,145$15,455,731$155,102,775
94$246,100,735$31,208,763$15,805,471$170,076,763
95$271,029,690$32,564,672$16,161,634$186,544,901
96$298,495,938$33,981,561$16,524,268$204,658,220
97$328,758,112$35,462,246$16,893,420$224,583,092
98$362,101,219$37,009,675$17,269,129$246,502,799
99$398,839,331$38,626,937$17,651,432$270,619,252
100$439,318,549$40,317,264$18,040,362$297,154,889