Can I retire at age 56 with 6,500,000?

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 $6,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$536,764$531,983$527,318$522,765$518,319$510,573
2 years$265,725$260,776$255,980$251,329$246,819$239,033
3 years$175,390$170,420$165,636$161,029$156,592$149,007
4 years$130,232$125,277$120,540$116,012$111,683$104,358
5 years$103,144$98,218$93,544$89,109$84,899$77,856
6 years$85,091$80,203$75,598$71,261$67,178$60,425
7 years$72,201$67,354$62,822$58,588$54,634$48,172
8 years$62,538$57,735$53,278$49,148$45,324$39,153
9 years$55,027$50,269$45,888$41,863$38,169$32,286
10 years$49,021$44,309$40,007$36,086$32,522$26,923
11 years$44,110$39,446$35,221$31,406$27,970$22,648
12 years$40,021$35,405$31,258$27,547$24,238$19,188
13 years$36,563$31,995$27,927$24,320$21,136$16,350
14 years$33,602$29,083$25,092$21,589$18,528$13,998
15 years$31,039$26,568$22,655$19,253$16,313$12,032
16 years$28,797$24,375$20,540$17,239$14,418$10,376
17 years$26,822$22,449$18,691$15,489$12,784$8,973
18 years$25,068$20,744$17,062$13,959$11,367$7,779
19 years$23,500$19,225$15,620$12,613$10,132$6,757
20 years$22,091$17,865$14,335$11,424$9,050$5,879
21 years$20,818$16,640$13,185$10,368$8,098$5,124
22 years$19,662$15,533$12,152$9,427$7,259$4,471
23 years$18,609$14,528$11,221$8,585$6,516$3,905
24 years$17,644$13,612$10,377$7,830$5,857$3,415
25 years$16,758$12,774$9,611$7,151$5,270$2,988
26 years$15,941$12,005$8,914$6,538$4,747$2,617
27 years$15,187$11,299$8,277$5,985$4,280$2,293
28 years$14,487$10,647$7,695$5,483$3,862$2,011
29 years$13,837$10,044$7,161$5,028$3,487$1,764
30 years$13,231$9,485$6,670$4,615$3,151$1,548
31 years$12,666$8,967$6,218$4,238$2,849$1,359
32 years$12,137$8,484$5,802$3,895$2,577$1,194
33 years$11,641$8,035$5,417$3,582$2,332$1,049
34 years$11,175$7,615$5,061$3,296$2,111$921
35 years$10,736$7,223$4,732$3,034$1,912$810
36 years$10,324$6,856$4,427$2,794$1,733$712
37 years$9,934$6,511$4,143$2,574$1,570$626
38 years$9,565$6,188$3,880$2,373$1,424$550
39 years$9,217$5,884$3,635$2,188$1,291$484
40 years$8,887$5,598$3,407$2,018$1,171$426
41 years$8,573$5,329$3,195$1,862$1,062$374
42 years$8,275$5,075$2,997$1,718$964$329
43 years$7,992$4,836$2,812$1,586$875$290
44 years$7,723$4,609$2,640$1,465$794$255
45 years$7,466$4,395$2,479$1,353$721$224
46 years$7,221$4,193$2,328$1,249$655$197
47 years$6,988$4,002$2,187$1,154$594$174
48 years$6,764$3,820$2,055$1,067$540$153
49 years$6,551$3,648$1,932$986$490$135
50 years$6,346$3,485$1,816$911$445$118

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,500,000, adding $2,799 every year, while hoping to spend $38,672 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: 49/34/17 Blend
55$6,500,000$6,500,000$6,500,000$6,500,000
56$7,165,887$6,821,387$6,720,637$7,482,925
57$7,855,661$7,114,488$6,904,632$7,995,439
58$8,614,496$7,420,656$7,093,494$8,547,668
59$9,449,394$7,740,488$7,287,346$9,146,723
60$10,368,074$8,074,613$7,486,314$9,797,018
61$11,379,036$8,423,688$7,690,524$10,503,400
62$12,491,649$8,788,400$7,900,108$11,271,196
63$13,716,235$9,169,469$8,115,199$12,106,260
64$15,064,167$9,567,650$8,335,935$13,015,027
65$16,547,979$9,983,731$8,562,455$14,004,570
66$18,181,478$10,418,539$8,794,902$15,082,665
67$19,979,880$10,872,939$9,033,423$16,257,864
68$21,959,952$11,347,837$9,278,167$17,539,568
69$24,140,168$11,844,182$9,529,287$18,938,120
70$26,540,886$12,362,968$9,786,939$20,464,894
71$29,184,537$12,905,234$10,051,282$22,132,402
72$32,095,840$13,472,070$10,322,480$23,954,408
73$35,302,032$14,064,618$10,600,699$25,946,056
74$38,833,127$14,684,072$10,886,110$28,124,010
75$42,722,197$15,331,682$11,178,886$30,506,606
76$47,005,687$16,008,761$11,479,205$33,114,020
77$51,723,757$16,716,680$11,787,248$35,968,460
78$56,920,660$17,456,877$12,103,200$39,094,368
79$62,645,161$18,230,858$12,427,251$42,518,646
80$68,950,997$19,040,199$12,759,593$46,270,907
81$75,897,382$19,886,553$13,100,424$50,383,751
82$83,549,571$20,771,650$13,449,944$54,893,065
83$91,979,469$21,697,303$13,808,359$59,838,360
84$101,266,314$22,665,409$14,175,878$65,263,136
85$111,497,422$23,677,958$14,552,714$71,215,290
86$122,769,014$24,737,033$14,939,085$77,747,561
87$135,187,123$25,844,817$15,335,214$84,918,022
88$148,868,592$27,003,596$15,741,326$92,790,622
89$163,942,182$28,215,766$16,157,653$101,435,783
90$180,549,781$29,483,834$16,584,431$110,931,059
91$198,847,748$30,810,432$17,021,899$121,361,861
92$219,008,387$32,198,312$17,470,301$132,822,256
93$241,221,573$33,650,360$17,929,888$145,415,844
94$265,696,546$35,169,600$18,400,912$159,256,736
95$292,663,884$36,759,200$18,883,631$174,470,612
96$322,377,677$38,422,478$19,378,311$191,195,908
97$355,117,933$40,162,913$19,885,217$209,585,110
98$391,193,214$41,984,147$20,404,623$229,806,183
99$430,943,551$43,889,999$20,936,807$252,044,147
100$474,743,653$45,884,470$21,482,051$276,502,816