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

Use the below retirement simulation to view the chances of a successful retirement.
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%17.5%
1 years$528,506$523,798$519,205$514,722$510,345$494,801
2 years$261,637$256,764$252,041$247,463$243,021$227,495
3 years$172,692$167,798$163,088$158,552$154,183$139,160
4 years$128,228$123,349$118,686$114,228$109,964$95,561
5 years$101,557$96,707$92,105$87,738$83,593$69,848
6 years$83,782$78,969$74,435$70,165$66,144$53,069
7 years$71,090$66,318$61,856$57,686$53,793$41,388
8 years$61,576$56,847$52,458$48,392$44,627$32,883
9 years$54,180$49,495$45,182$41,219$37,582$26,487
10 years$48,267$43,628$39,391$35,531$32,022$21,560
11 years$43,432$38,839$34,679$30,923$27,540$17,693
12 years$39,405$34,860$30,777$27,123$23,865$14,613
13 years$36,001$31,503$27,497$23,946$20,811$12,132
14 years$33,086$28,636$24,706$21,256$18,243$10,114
15 years$30,561$26,159$22,306$18,957$16,062$8,460
16 years$28,354$24,000$20,224$16,974$14,196$7,097
17 years$26,409$22,104$18,403$15,251$12,587$5,967
18 years$24,682$20,425$16,800$13,744$11,192$5,027
19 years$23,139$18,929$15,379$12,419$9,976$4,241
20 years$21,752$17,590$14,114$11,248$8,910$3,584
21 years$20,498$16,384$12,982$10,208$7,974$3,031
22 years$19,360$15,294$11,965$9,282$7,147$2,566
23 years$18,322$14,304$11,048$8,453$6,416$2,175
24 years$17,373$13,402$10,217$7,709$5,767$1,844
25 years$16,500$12,577$9,463$7,041$5,189$1,564
26 years$15,696$11,821$8,777$6,438$4,674$1,328
27 years$14,953$11,125$8,150$5,893$4,214$1,127
28 years$14,264$10,483$7,577$5,399$3,803$958
29 years$13,624$9,889$7,051$4,951$3,434$814
30 years$13,028$9,339$6,567$4,544$3,103$691
31 years$12,471$8,829$6,123$4,173$2,805$588
32 years$11,950$8,354$5,712$3,835$2,537$500
33 years$11,461$7,911$5,334$3,527$2,296$425
34 years$11,003$7,498$4,984$3,245$2,079$361
35 years$10,571$7,112$4,659$2,987$1,883$307
36 years$10,165$6,750$4,359$2,751$1,706$261
37 years$9,781$6,411$4,080$2,535$1,546$222
38 years$9,418$6,093$3,820$2,336$1,402$189
39 years$9,075$5,794$3,579$2,154$1,271$161
40 years$8,750$5,512$3,355$1,987$1,153$137
41 years$8,441$5,247$3,146$1,833$1,046$117
42 years$8,148$4,997$2,951$1,692$949$99
43 years$7,869$4,761$2,769$1,562$861$84
44 years$7,604$4,538$2,599$1,442$782$72
45 years$7,351$4,328$2,441$1,332$710$61
46 years$7,110$4,129$2,292$1,230$645$52
47 years$6,880$3,940$2,153$1,137$585$44
48 years$6,660$3,761$2,024$1,050$532$38
49 years$6,450$3,592$1,902$971$483$32
50 years$6,249$3,431$1,788$897$438$27

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 $3,205 every year, while hoping to spend $56,705 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: 47/32/21 Blend
55$6,400,000$6,400,000$6,400,000$6,400,000
56$7,056,106$6,716,906$6,617,706$7,345,411
57$7,715,495$6,985,701$6,779,065$7,816,681
58$8,440,241$7,265,766$6,943,930$8,321,984
59$9,236,951$7,557,594$7,112,357$8,869,286
60$10,112,904$7,861,699$7,284,404$9,462,542
61$11,076,117$8,178,620$7,460,129$10,106,098
62$12,135,427$8,508,918$7,639,590$10,804,733
63$13,300,568$8,853,182$7,822,842$11,563,697
64$14,582,263$9,212,025$8,009,945$12,388,765
65$15,992,330$9,586,091$8,200,954$13,286,284
66$17,543,788$9,976,049$8,395,927$14,263,235
67$19,250,982$10,382,604$8,594,918$15,327,297
68$21,129,719$10,806,488$8,797,984$16,486,915
69$23,197,413$11,248,469$9,005,180$17,751,379
70$25,473,255$11,709,350$9,216,560$19,130,908
71$27,978,389$12,189,969$9,432,176$20,636,749
72$30,736,112$12,691,206$9,652,081$22,281,273
73$33,772,097$13,213,976$9,876,327$24,078,098
74$37,114,631$13,759,241$10,104,964$26,042,207
75$40,794,883$14,328,003$10,338,040$28,190,092
76$44,847,200$14,921,314$10,575,603$30,539,906
77$49,309,427$15,540,271$10,817,698$33,111,628
78$54,223,267$16,186,023$11,064,370$35,927,255
79$59,634,673$16,859,771$11,315,660$39,010,999
80$65,594,283$17,562,773$11,571,608$42,389,518
81$72,157,895$18,296,344$11,832,251$46,092,163
82$79,386,994$19,061,859$12,097,626$50,151,249
83$87,349,335$19,860,758$12,367,764$54,602,359
84$96,119,578$20,694,546$12,642,695$59,484,675
85$105,779,995$21,564,798$12,922,445$64,841,344
86$116,421,246$22,473,164$13,207,038$70,719,880
87$128,143,232$23,421,369$13,496,493$77,172,611
88$141,056,042$24,411,216$13,790,826$84,257,165
89$155,280,988$25,444,595$14,090,048$92,037,011
90$170,951,752$26,523,483$14,394,167$100,582,054
91$188,215,644$27,649,947$14,703,185$109,969,287
92$207,234,998$28,826,153$15,017,100$120,283,516
93$228,188,699$30,054,365$15,335,904$131,618,151
94$251,273,872$31,336,956$15,659,584$144,076,086
95$276,707,747$32,676,406$15,988,119$157,770,660
96$304,729,700$34,075,313$16,321,484$172,826,724
97$335,603,522$35,536,396$16,659,647$189,381,812
98$369,619,903$37,062,502$17,002,567$207,587,429
99$407,099,177$38,656,608$17,350,197$227,610,480
100$448,394,345$40,321,834$17,702,480$249,634,834