Can I retire at age 56 with 6,300,000?

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 $6,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$520,248$515,614$511,093$506,680$502,371$490,425
2 years$257,549$252,752$248,103$243,596$239,224$227,259
3 years$169,994$165,176$160,539$156,074$151,774$140,163
4 years$126,225$121,422$116,831$112,443$108,246$97,079
5 years$99,970$95,196$90,666$86,367$82,287$71,595
6 years$82,473$77,735$73,272$69,068$65,111$54,905
7 years$69,980$65,282$60,889$56,785$52,953$43,234
8 years$60,614$55,958$51,639$47,635$43,929$34,694
9 years$53,333$48,722$44,476$40,575$36,995$28,235
10 years$47,512$42,946$38,776$34,976$31,521$23,228
11 years$42,753$38,232$34,137$30,439$27,110$19,270
12 years$38,789$34,315$30,296$26,700$23,493$16,095
13 years$35,438$31,011$27,068$23,572$20,486$13,516
14 years$32,569$28,188$24,320$20,924$17,958$11,400
15 years$30,084$25,750$21,958$18,661$15,812$9,651
16 years$27,911$23,625$19,908$16,709$13,974$8,195
17 years$25,997$21,758$18,116$15,013$12,391$6,976
18 years$24,297$20,106$16,537$13,529$11,017$5,951
19 years$22,777$18,634$15,139$12,225$9,820$5,086
20 years$21,412$17,315$13,894$11,072$8,771$4,353
21 years$20,178$16,128$12,780$10,049$7,849$3,731
22 years$19,057$15,055$11,778$9,136$7,036$3,201
23 years$18,036$14,081$10,875$8,321$6,316$2,748
24 years$17,101$13,193$10,058$7,589$5,677$2,362
25 years$16,242$12,381$9,316$6,931$5,108$2,031
26 years$15,451$11,636$8,640$6,337$4,601$1,748
27 years$14,719$10,951$8,023$5,801$4,148$1,505
28 years$14,041$10,319$7,458$5,315$3,743$1,296
29 years$13,411$9,735$6,940$4,874$3,380$1,117
30 years$12,824$9,193$6,465$4,473$3,054$962
31 years$12,276$8,691$6,027$4,108$2,761$830
32 years$11,763$8,223$5,623$3,775$2,498$715
33 years$11,282$7,788$5,250$3,472$2,260$617
34 years$10,831$7,381$4,906$3,194$2,047$532
35 years$10,406$7,001$4,586$2,940$1,854$459
36 years$10,006$6,645$4,291$2,708$1,679$396
37 years$9,628$6,311$4,016$2,495$1,522$342
38 years$9,271$5,998$3,761$2,300$1,380$295
39 years$8,933$5,703$3,523$2,121$1,251$255
40 years$8,613$5,426$3,302$1,956$1,135$220
41 years$8,309$5,165$3,097$1,805$1,030$190
42 years$8,021$4,919$2,905$1,665$934$164
43 years$7,746$4,687$2,726$1,537$848$141
44 years$7,485$4,468$2,559$1,419$770$122
45 years$7,236$4,260$2,402$1,311$699$105
46 years$6,999$4,064$2,256$1,211$634$91
47 years$6,773$3,878$2,120$1,119$576$79
48 years$6,556$3,702$1,992$1,034$523$68
49 years$6,349$3,536$1,872$955$475$59
50 years$6,151$3,377$1,760$883$432$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,300,000, adding $4,126 every year, while hoping to spend $48,702 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: 38/49/13 Blend
55$6,300,000$6,300,000$6,300,000$6,300,000
56$6,946,856$6,612,956$6,515,306$7,183,269
57$7,603,617$6,885,172$6,681,750$7,624,343
58$8,325,735$7,169,095$6,852,138$8,095,678
59$9,119,825$7,465,246$7,026,550$8,603,982
60$9,993,176$7,774,172$7,205,068$9,152,599
61$10,953,817$8,096,443$7,387,775$9,745,196
62$12,010,596$8,432,659$7,574,755$10,385,796
63$13,173,260$8,783,442$7,766,093$11,078,815
64$14,452,550$9,149,448$7,961,874$11,829,097
65$15,860,299$9,531,360$8,162,186$12,641,962
66$17,409,547$9,929,894$8,367,116$13,523,249
67$19,114,660$10,345,798$8,576,754$14,479,372
68$20,991,469$10,779,856$8,791,189$15,517,374
69$23,057,416$11,232,886$9,010,511$16,644,994
70$25,331,722$11,705,747$9,234,813$17,870,732
71$27,835,564$12,199,335$9,464,186$19,203,932
72$30,592,279$12,714,589$9,698,723$20,654,859
73$33,627,579$13,252,492$9,938,517$22,234,801
74$36,969,798$13,814,071$10,183,664$23,956,163
75$40,650,159$14,400,401$10,434,258$25,832,584
76$44,703,064$15,012,609$10,690,394$27,879,064
77$49,166,422$15,651,873$10,952,168$30,112,096
78$54,082,008$16,319,426$11,219,677$32,549,821
79$59,495,853$17,016,557$11,493,016$35,212,190
80$65,458,680$17,744,619$11,772,283$38,121,152
81$72,026,385$18,505,025$12,057,574$41,300,855
82$79,260,560$19,299,255$12,348,986$44,777,863
83$87,229,076$20,128,858$12,646,616$48,581,409
84$96,006,726$20,995,455$12,950,561$52,743,659
85$105,675,924$21,900,745$13,260,917$57,300,011
86$116,327,491$22,846,504$13,577,781$62,289,424
87$128,061,505$23,834,593$13,901,246$67,754,776
88$140,988,249$24,866,959$14,231,409$73,743,263
89$155,229,253$25,945,642$14,568,364$80,306,838
90$170,918,435$27,072,777$14,912,202$87,502,690
91$188,203,372$28,250,599$15,263,017$95,393,781
92$207,246,686$29,481,449$15,620,899$104,049,427
93$228,227,586$30,767,778$15,985,937$113,545,943
94$251,343,552$32,112,151$16,358,218$123,967,359
95$276,812,204$33,517,257$16,737,828$135,406,198
96$304,873,355$34,985,908$17,124,851$147,964,341
97$335,791,272$36,521,052$17,519,368$161,753,980
98$369,857,172$38,125,774$17,921,458$176,898,661
99$407,391,973$39,803,306$18,331,196$193,534,444
100$448,749,318$41,557,033$18,748,655$211,811,170