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%12%
1 years$536,764$531,983$527,318$522,765$518,319$513,976
2 years$265,725$260,776$255,980$251,329$246,819$242,442
3 years$175,390$170,420$165,636$161,029$156,592$152,316
4 years$130,232$125,277$120,540$116,012$111,683$107,542
5 years$103,144$98,218$93,544$89,109$84,899$80,905
6 years$85,091$80,203$75,598$71,261$67,178$63,335
7 years$72,201$67,354$62,822$58,588$54,634$50,944
8 years$62,538$57,735$53,278$49,148$45,324$41,788
9 years$55,027$50,269$45,888$41,863$38,169$34,785
10 years$49,021$44,309$40,007$36,086$32,522$29,289
11 years$44,110$39,446$35,221$31,406$27,970$24,884
12 years$40,021$35,405$31,258$27,547$24,238$21,298
13 years$36,563$31,995$27,927$24,320$21,136$18,337
14 years$33,602$29,083$25,092$21,589$18,528$15,867
15 years$31,039$26,568$22,655$19,253$16,313$13,787
16 years$28,797$24,375$20,540$17,239$14,418$12,022
17 years$26,822$22,449$18,691$15,489$12,784$10,514
18 years$25,068$20,744$17,062$13,959$11,367$9,219
19 years$23,500$19,225$15,620$12,613$10,132$8,102
20 years$22,091$17,865$14,335$11,424$9,050$7,133
21 years$20,818$16,640$13,185$10,368$8,098$6,291
22 years$19,662$15,533$12,152$9,427$7,259$5,556
23 years$18,609$14,528$11,221$8,585$6,516$4,914
24 years$17,644$13,612$10,377$7,830$5,857$4,350
25 years$16,758$12,774$9,611$7,151$5,270$3,855
26 years$15,941$12,005$8,914$6,538$4,747$3,419
27 years$15,187$11,299$8,277$5,985$4,280$3,035
28 years$14,487$10,647$7,695$5,483$3,862$2,695
29 years$13,837$10,044$7,161$5,028$3,487$2,395
30 years$13,231$9,485$6,670$4,615$3,151$2,130
31 years$12,666$8,967$6,218$4,238$2,849$1,895
32 years$12,137$8,484$5,802$3,895$2,577$1,686
33 years$11,641$8,035$5,417$3,582$2,332$1,501
34 years$11,175$7,615$5,061$3,296$2,111$1,337
35 years$10,736$7,223$4,732$3,034$1,912$1,191
36 years$10,324$6,856$4,427$2,794$1,733$1,061
37 years$9,934$6,511$4,143$2,574$1,570$946
38 years$9,565$6,188$3,880$2,373$1,424$843
39 years$9,217$5,884$3,635$2,188$1,291$751
40 years$8,887$5,598$3,407$2,018$1,171$670
41 years$8,573$5,329$3,195$1,862$1,062$598
42 years$8,275$5,075$2,997$1,718$964$533
43 years$7,992$4,836$2,812$1,586$875$475
44 years$7,723$4,609$2,640$1,465$794$424
45 years$7,466$4,395$2,479$1,353$721$378
46 years$7,221$4,193$2,328$1,249$655$338
47 years$6,988$4,002$2,187$1,154$594$301
48 years$6,764$3,820$2,055$1,067$540$269
49 years$6,551$3,648$1,932$986$490$240
50 years$6,346$3,485$1,816$911$445$214

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 $4,312 every year, while hoping to spend $48,430 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: 55/25/20 Blend
55$6,500,000$6,500,000$6,500,000$6,500,000
56$7,167,448$6,822,948$6,722,198$7,522,653
57$7,846,998$7,105,743$6,895,862$8,048,789
58$8,594,240$7,400,772$7,073,721$8,615,949
59$9,416,026$7,708,583$7,255,864$9,232,531
60$10,319,907$8,029,750$7,442,382$9,903,282
61$11,314,202$8,364,873$7,633,367$10,633,421
62$12,408,078$8,714,579$7,828,912$11,428,687
63$13,611,634$9,079,526$8,029,113$12,295,393
64$14,935,997$9,460,399$8,234,065$13,240,484
65$16,393,429$9,857,919$8,443,866$14,271,600
66$17,997,439$10,272,836$8,658,615$15,397,147
67$19,762,911$10,705,939$8,878,413$16,626,375
68$21,706,249$11,158,051$9,103,360$17,969,461
69$23,845,524$11,630,033$9,333,560$19,437,606
70$26,200,650$12,122,787$9,569,117$21,043,139
71$28,793,570$12,637,257$9,810,136$22,799,628
72$31,648,461$13,174,430$10,056,723$24,722,009
73$34,791,967$13,735,340$10,308,986$26,826,724
74$38,253,445$14,321,069$10,567,034$29,131,871
75$42,065,243$14,932,748$10,830,976$31,657,378
76$46,263,008$15,571,563$11,100,924$34,425,184
77$50,886,019$16,238,753$11,376,989$37,459,444
78$55,977,558$16,935,618$11,659,284$40,786,756
79$61,585,322$17,663,516$11,947,923$44,436,408
80$67,761,866$18,423,870$12,243,020$48,440,651
81$74,565,105$19,218,168$12,544,690$52,835,003
82$82,058,858$20,047,970$12,853,049$57,658,576
83$90,313,449$20,914,908$13,168,213$62,954,447
84$99,406,373$21,820,691$13,490,300$68,770,058
85$109,423,025$22,767,107$13,819,427$75,157,661
86$120,457,507$23,756,029$14,155,712$82,174,805
87$132,613,517$24,789,418$14,499,272$89,884,883
88$146,005,323$25,869,328$14,850,226$98,357,714
89$160,758,849$26,997,907$15,208,691$107,670,209
90$177,012,856$28,177,409$15,574,786$117,907,087
91$194,920,254$29,410,189$15,948,629$129,161,670
92$214,649,547$30,698,715$16,330,335$141,536,760
93$236,386,423$32,045,574$16,720,023$155,145,603
94$260,335,502$33,453,471$17,117,808$170,112,955
95$286,722,274$34,925,242$17,523,805$186,576,252
96$315,795,221$36,463,855$17,938,128$204,686,904
97$347,828,169$38,072,418$18,360,891$224,611,712
98$383,122,865$39,754,190$18,792,203$246,534,446
99$422,011,831$41,512,579$19,232,176$270,657,562
100$464,861,501$43,351,158$19,680,916$297,204,117