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%13.4%
1 years$528,506$523,798$519,205$514,722$510,345$503,134
2 years$261,637$256,764$252,041$247,463$243,021$235,770
3 years$172,692$167,798$163,088$158,552$154,183$147,117
4 years$128,228$123,349$118,686$114,228$109,964$103,139
5 years$101,557$96,707$92,105$87,738$83,593$77,027
6 years$83,782$78,969$74,435$70,165$66,144$59,846
7 years$71,090$66,318$61,856$57,686$53,793$47,764
8 years$61,576$56,847$52,458$48,392$44,627$38,866
9 years$54,180$49,495$45,182$41,219$37,582$32,088
10 years$48,267$43,628$39,391$35,531$32,022$26,789
11 years$43,432$38,839$34,679$30,923$27,540$22,564
12 years$39,405$34,860$30,777$27,123$23,865$19,141
13 years$36,001$31,503$27,497$23,946$20,811$16,331
14 years$33,086$28,636$24,706$21,256$18,243$14,001
15 years$30,561$26,159$22,306$18,957$16,062$12,051
16 years$28,354$24,000$20,224$16,974$14,196$10,407
17 years$26,409$22,104$18,403$15,251$12,587$9,013
18 years$24,682$20,425$16,800$13,744$11,192$7,824
19 years$23,139$18,929$15,379$12,419$9,976$6,806
20 years$21,752$17,590$14,114$11,248$8,910$5,931
21 years$20,498$16,384$12,982$10,208$7,974$5,177
22 years$19,360$15,294$11,965$9,282$7,147$4,524
23 years$18,322$14,304$11,048$8,453$6,416$3,958
24 years$17,373$13,402$10,217$7,709$5,767$3,466
25 years$16,500$12,577$9,463$7,041$5,189$3,038
26 years$15,696$11,821$8,777$6,438$4,674$2,665
27 years$14,953$11,125$8,150$5,893$4,214$2,339
28 years$14,264$10,483$7,577$5,399$3,803$2,054
29 years$13,624$9,889$7,051$4,951$3,434$1,805
30 years$13,028$9,339$6,567$4,544$3,103$1,587
31 years$12,471$8,829$6,123$4,173$2,805$1,395
32 years$11,950$8,354$5,712$3,835$2,537$1,227
33 years$11,461$7,911$5,334$3,527$2,296$1,080
34 years$11,003$7,498$4,984$3,245$2,079$951
35 years$10,571$7,112$4,659$2,987$1,883$837
36 years$10,165$6,750$4,359$2,751$1,706$737
37 years$9,781$6,411$4,080$2,535$1,546$649
38 years$9,418$6,093$3,820$2,336$1,402$572
39 years$9,075$5,794$3,579$2,154$1,271$504
40 years$8,750$5,512$3,355$1,987$1,153$444
41 years$8,441$5,247$3,146$1,833$1,046$391
42 years$8,148$4,997$2,951$1,692$949$345
43 years$7,869$4,761$2,769$1,562$861$304
44 years$7,604$4,538$2,599$1,442$782$268
45 years$7,351$4,328$2,441$1,332$710$236
46 years$7,110$4,129$2,292$1,230$645$208
47 years$6,880$3,940$2,153$1,137$585$183
48 years$6,660$3,761$2,024$1,050$532$162
49 years$6,450$3,592$1,902$971$483$142
50 years$6,249$3,431$1,788$897$438$126

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 $4,467 every year, while hoping to spend $26,488 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: 40/45/15 Blend
55$6,400,000$6,400,000$6,400,000$6,400,000
56$7,057,408$6,718,208$6,619,008$7,308,034
57$7,749,080$7,019,217$6,812,561$7,787,246
58$8,510,416$7,334,088$7,011,711$8,302,411
59$9,348,492$7,663,471$7,216,617$8,859,148
60$10,271,107$8,008,050$7,427,443$9,461,243
61$11,286,854$8,368,540$7,644,357$10,112,846
62$12,405,203$8,745,688$7,867,532$10,818,513
63$13,636,586$9,140,279$8,097,147$11,583,240
64$14,992,502$9,553,136$8,333,385$12,412,512
65$16,485,617$9,985,120$8,576,434$13,312,350
66$18,129,893$10,437,134$8,826,488$14,289,361
67$19,940,711$10,910,123$9,083,744$15,350,805
68$21,935,022$11,405,077$9,348,408$16,504,652
69$24,131,504$11,923,036$9,620,690$17,759,659
70$26,550,740$12,465,087$9,900,805$19,125,445
71$29,215,408$13,032,369$10,188,975$20,612,581
72$32,150,503$13,626,078$10,485,428$22,232,681
73$35,383,563$14,247,465$10,790,399$23,998,514
74$38,944,938$14,897,842$11,104,129$25,924,113
75$42,868,068$15,578,583$11,426,864$28,024,907
76$47,189,807$16,291,129$11,758,859$30,317,860
77$51,950,762$17,036,989$12,100,376$32,821,624
78$57,195,684$17,817,746$12,451,683$35,556,716
79$62,973,885$18,635,057$12,813,056$38,545,696
80$69,339,707$19,490,660$13,184,778$41,813,383
81$76,353,030$20,386,376$13,567,142$45,387,077
82$84,079,844$21,324,113$13,960,446$49,296,814
83$92,592,865$22,305,871$14,364,998$53,575,640
84$101,972,226$23,333,748$14,781,114$58,259,914
85$112,306,231$24,409,939$15,209,119$63,389,650
86$123,692,188$25,536,748$15,649,346$69,008,881
87$136,237,331$26,716,588$16,102,139$75,166,065
88$150,059,827$27,951,990$16,567,849$81,914,543
89$165,289,897$29,245,604$17,046,839$89,313,021
90$182,071,038$30,600,211$17,539,480$97,426,124
91$200,561,385$32,018,722$18,046,154$106,324,992
92$220,935,199$33,504,193$18,567,253$116,087,942
93$243,384,514$35,059,823$19,103,180$126,801,196
94$268,120,948$36,688,967$19,654,350$138,559,683
95$295,377,701$38,395,143$20,221,187$151,467,923
96$325,411,757$40,182,036$20,804,128$165,641,005
97$358,506,312$42,053,511$21,403,622$181,205,653
98$394,973,442$44,013,619$22,020,129$198,301,415
99$435,157,053$46,066,607$22,654,124$217,081,963
100$479,436,127$48,216,924$23,306,091$237,716,529