Can I retire at age 56 with 6,400,000?

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 $6,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$528,506$523,798$519,205$514,722$510,345$498,008
2 years$261,637$256,764$252,041$247,463$243,021$230,666
3 years$172,692$167,798$163,088$158,552$154,183$142,195
4 years$128,228$123,349$118,686$114,228$109,964$98,437
5 years$101,557$96,707$92,105$87,738$83,593$72,558
6 years$83,782$78,969$74,435$70,165$66,144$55,613
7 years$71,090$66,318$61,856$57,686$53,793$43,767
8 years$61,576$56,847$52,458$48,392$44,627$35,101
9 years$54,180$49,495$45,182$41,219$37,582$28,549
10 years$48,267$43,628$39,391$35,531$32,022$23,472
11 years$43,432$38,839$34,679$30,923$27,540$19,460
12 years$39,405$34,860$30,777$27,123$23,865$16,243
13 years$36,001$31,503$27,497$23,946$20,811$13,631
14 years$33,086$28,636$24,706$21,256$18,243$11,490
15 years$30,561$26,159$22,306$18,957$16,062$9,720
16 years$28,354$24,000$20,224$16,974$14,196$8,248
17 years$26,409$22,104$18,403$15,251$12,587$7,016
18 years$24,682$20,425$16,800$13,744$11,192$5,981
19 years$23,139$18,929$15,379$12,419$9,976$5,107
20 years$21,752$17,590$14,114$11,248$8,910$4,368
21 years$20,498$16,384$12,982$10,208$7,974$3,740
22 years$19,360$15,294$11,965$9,282$7,147$3,207
23 years$18,322$14,304$11,048$8,453$6,416$2,751
24 years$17,373$13,402$10,217$7,709$5,767$2,363
25 years$16,500$12,577$9,463$7,041$5,189$2,030
26 years$15,696$11,821$8,777$6,438$4,674$1,746
27 years$14,953$11,125$8,150$5,893$4,214$1,502
28 years$14,264$10,483$7,577$5,399$3,803$1,292
29 years$13,624$9,889$7,051$4,951$3,434$1,112
30 years$13,028$9,339$6,567$4,544$3,103$958
31 years$12,471$8,829$6,123$4,173$2,805$825
32 years$11,950$8,354$5,712$3,835$2,537$711
33 years$11,461$7,911$5,334$3,527$2,296$613
34 years$11,003$7,498$4,984$3,245$2,079$528
35 years$10,571$7,112$4,659$2,987$1,883$455
36 years$10,165$6,750$4,359$2,751$1,706$392
37 years$9,781$6,411$4,080$2,535$1,546$338
38 years$9,418$6,093$3,820$2,336$1,402$292
39 years$9,075$5,794$3,579$2,154$1,271$252
40 years$8,750$5,512$3,355$1,987$1,153$217
41 years$8,441$5,247$3,146$1,833$1,046$187
42 years$8,148$4,997$2,951$1,692$949$161
43 years$7,869$4,761$2,769$1,562$861$139
44 years$7,604$4,538$2,599$1,442$782$120
45 years$7,351$4,328$2,441$1,332$710$104
46 years$7,110$4,129$2,292$1,230$645$89
47 years$6,880$3,940$2,153$1,137$585$77
48 years$6,660$3,761$2,024$1,050$532$67
49 years$6,450$3,592$1,902$971$483$57
50 years$6,249$3,431$1,788$897$438$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,400,000, adding $2,158 every year, while hoping to spend $24,853 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: 40/35/25 Blend
55$6,400,000$6,400,000$6,400,000$6,400,000
56$7,055,026$6,715,826$6,616,626$7,284,994
57$7,748,195$7,018,458$6,811,840$7,753,994
58$8,511,235$7,335,086$7,012,760$8,258,560
59$9,351,245$7,666,370$7,219,552$8,803,954
60$10,276,050$8,013,000$7,432,385$9,393,923
61$11,294,271$8,375,701$7,651,434$10,032,578
62$12,415,408$8,755,231$7,876,878$10,724,431
63$13,649,928$9,152,386$8,108,901$11,474,437
64$15,009,366$9,567,998$8,347,695$12,288,033
65$16,506,431$10,002,940$8,593,452$13,171,195
66$18,155,129$10,458,126$8,846,376$14,130,483
67$19,970,894$10,934,516$9,106,670$15,173,105
68$21,970,731$11,433,113$9,374,549$16,306,981
69$24,173,379$11,954,969$9,650,231$17,540,815
70$26,599,489$12,501,188$9,933,939$18,884,172
71$29,271,816$13,072,925$10,225,904$20,347,566
72$32,215,434$13,671,391$10,526,365$21,942,557
73$35,457,974$14,297,856$10,835,565$23,681,853
74$39,029,886$14,953,649$11,153,754$25,579,429
75$42,964,722$15,640,165$11,481,192$27,650,654
76$47,299,454$16,358,864$11,818,144$29,912,431
77$52,074,829$17,111,278$12,164,881$32,383,353
78$57,335,742$17,899,012$12,521,686$35,083,872
79$63,131,671$18,723,747$12,888,846$38,036,490
80$69,517,137$19,587,246$13,266,657$41,265,963
81$76,552,220$20,491,356$13,655,426$44,799,533
82$84,303,129$21,438,015$14,055,464$48,667,175
83$92,842,821$22,429,251$14,467,096$52,901,879
84$102,251,697$23,467,192$14,890,651$57,539,951
85$112,618,353$24,554,067$15,326,471$62,621,352
86$124,040,423$25,692,215$15,774,906$68,190,068
87$136,625,497$26,884,084$16,236,316$74,294,516
88$150,492,136$28,132,243$16,711,072$80,987,997
89$165,770,994$29,439,383$17,199,553$88,329,190
90$182,606,049$30,808,325$17,702,150$96,382,697
91$201,155,961$32,242,028$18,219,267$105,219,646
92$221,595,572$33,743,591$18,751,317$114,918,352
93$244,117,558$35,316,265$19,298,723$125,565,051
94$268,934,243$36,963,455$19,861,924$137,254,697
95$296,279,605$38,688,734$20,441,368$150,091,856
96$326,411,487$40,495,845$21,037,516$164,191,680
97$359,614,029$42,388,711$21,650,843$179,680,980
98$396,200,351$44,371,449$22,281,837$196,699,417
99$436,515,506$46,448,369$22,930,998$215,400,803
100$480,939,743$48,623,995$23,598,842$235,954,545