Can I retire at age 56 with 6,600,000?

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 $6,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$545,022$540,167$535,431$530,807$526,293$510,059
2 years$269,813$264,788$259,918$255,196$250,616$234,402
3 years$178,088$173,042$168,184$163,506$159,001$143,316
4 years$132,235$127,204$122,395$117,797$113,401$98,365
5 years$104,731$99,729$94,983$90,480$86,206$71,860
6 years$86,400$81,437$76,761$72,357$68,211$54,568
7 years$73,312$68,390$63,789$59,489$55,474$42,532
8 years$63,500$58,623$54,098$49,904$46,021$33,772
9 years$55,873$51,042$46,594$42,507$38,757$27,187
10 years$49,775$44,991$40,622$36,641$33,022$22,116
11 years$44,789$40,053$35,763$31,889$28,400$18,137
12 years$40,637$35,949$31,739$27,971$24,611$14,970
13 years$37,126$32,488$28,356$24,694$21,461$12,420
14 years$34,119$29,530$25,478$21,921$18,813$10,347
15 years$31,516$26,977$23,004$19,549$16,564$8,649
16 years$29,240$24,750$20,856$17,504$14,640$7,250
17 years$27,235$22,794$18,978$15,728$12,981$6,091
18 years$25,454$21,063$17,325$14,174$11,542$5,128
19 years$23,862$19,521$15,860$12,807$10,287$4,323
20 years$22,431$18,140$14,555$11,599$9,189$3,650
21 years$21,139$16,896$13,388$10,527$8,223$3,085
22 years$19,965$15,772$12,339$9,572$7,371$2,610
23 years$18,895$14,751$11,393$8,717$6,616$2,210
24 years$17,915$13,821$10,537$7,950$5,947$1,872
25 years$17,016$12,970$9,759$7,261$5,351$1,587
26 years$16,187$12,190$9,051$6,639$4,820$1,346
27 years$15,420$11,472$8,405$6,077$4,346$1,142
28 years$14,710$10,810$7,813$5,568$3,921$969
29 years$14,050$10,198$7,271$5,106$3,541$823
30 years$13,435$9,631$6,773$4,686$3,199$699
31 years$12,861$9,105$6,314$4,303$2,893$593
32 years$12,323$8,615$5,891$3,955$2,617$504
33 years$11,820$8,158$5,500$3,637$2,368$428
34 years$11,347$7,732$5,139$3,346$2,144$364
35 years$10,902$7,334$4,805$3,080$1,942$309
36 years$10,482$6,961$4,495$2,837$1,759$263
37 years$10,087$6,611$4,207$2,614$1,595$223
38 years$9,713$6,283$3,940$2,409$1,446$190
39 years$9,359$5,975$3,691$2,221$1,311$161
40 years$9,023$5,684$3,460$2,049$1,189$137
41 years$8,705$5,411$3,244$1,890$1,079$117
42 years$8,403$5,153$3,043$1,745$979$99
43 years$8,115$4,910$2,856$1,611$888$84
44 years$7,842$4,680$2,680$1,487$806$72
45 years$7,581$4,463$2,517$1,373$732$61
46 years$7,332$4,258$2,364$1,269$665$52
47 years$7,095$4,063$2,221$1,172$604$44
48 years$6,868$3,879$2,087$1,083$548$37
49 years$6,651$3,704$1,962$1,001$498$32
50 years$6,444$3,538$1,844$925$452$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,600,000, adding $2,434 every year, while hoping to spend $29,058 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: 52/18/30 Blend
55$6,600,000$6,600,000$6,600,000$6,600,000
56$7,275,711$6,925,911$6,823,611$7,592,504
57$7,986,916$7,234,363$7,021,284$8,121,987
58$8,769,690$7,556,955$7,224,606$8,694,570
59$9,631,302$7,894,350$7,433,734$9,316,927
60$10,579,763$8,247,241$7,648,832$9,993,832
61$11,623,897$8,616,355$7,870,067$10,730,529
62$12,773,431$9,002,453$8,097,610$11,532,791
63$14,039,081$9,406,332$8,331,640$12,406,961
64$15,432,653$9,828,828$8,572,336$13,360,022
65$16,967,159$10,270,817$8,819,885$14,399,651
66$18,656,938$10,733,215$9,074,479$15,534,298
67$20,517,786$11,216,983$9,336,314$16,773,258
68$22,567,112$11,723,127$9,605,593$18,126,760
69$24,824,100$12,252,703$9,882,523$19,606,060
70$27,309,888$12,806,815$10,167,317$21,223,545
71$30,047,768$13,386,621$10,460,194$22,992,850
72$33,063,409$13,993,334$10,761,379$24,928,983
73$36,385,095$14,628,225$11,071,103$27,048,463
74$40,043,992$15,292,626$11,389,603$29,369,476
75$44,074,448$15,987,933$11,717,123$31,912,042
76$48,514,307$16,715,607$12,053,913$34,698,203
77$53,405,277$17,477,183$12,400,229$37,752,227
78$58,793,315$18,274,264$12,756,337$41,100,834
79$64,729,065$19,108,535$13,122,505$44,773,448
80$71,268,334$19,981,758$13,499,014$48,802,468
81$78,472,622$20,895,781$13,886,148$53,223,573
82$86,409,696$21,852,541$14,284,201$58,076,053
83$95,154,238$22,854,068$14,693,475$63,403,181
84$104,788,541$23,902,489$15,114,277$69,252,612
85$115,403,293$25,000,032$15,546,927$75,676,832
86$127,098,430$26,149,034$15,991,749$82,733,652
87$139,984,076$27,351,943$16,449,079$90,486,743
88$154,181,588$28,611,325$16,919,260$99,006,239
89$169,824,700$29,929,870$17,402,645$108,369,392
90$187,060,782$31,310,396$17,899,596$118,661,296
91$206,052,234$32,755,857$18,410,484$129,975,685
92$226,978,018$34,269,351$18,935,692$142,415,816
93$250,035,349$35,854,122$19,475,611$156,095,435
94$275,441,553$37,513,572$20,030,642$171,139,845
95$303,436,121$39,251,268$20,601,199$187,687,086
96$334,282,971$41,070,945$21,187,705$205,889,230
97$368,272,936$42,976,523$21,790,594$225,913,811
98$405,726,509$44,972,106$22,410,312$247,945,398
99$446,996,873$47,061,999$23,047,318$272,187,335
100$492,473,231$49,250,715$23,702,081$298,863,647