Can I retire at age 56 with 6,700,000?

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 $6,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$553,280$548,351$543,543$538,850$534,267$525,416
2 years$273,901$268,800$263,856$259,063$254,413$245,522
3 years$180,787$175,664$170,732$165,984$161,410$152,755
4 years$134,239$129,131$124,249$119,582$115,119$106,767
5 years$106,317$101,241$96,423$91,850$87,512$79,487
6 years$87,709$82,671$77,924$73,454$69,245$61,556
7 years$74,423$69,427$64,755$60,390$56,315$48,965
8 years$64,463$59,511$54,917$50,660$46,718$39,706
9 years$56,720$51,815$47,300$43,151$39,344$32,664
10 years$50,529$45,673$41,238$37,197$33,523$27,171
11 years$45,467$40,660$36,305$32,372$28,831$22,800
12 years$41,252$36,494$32,220$28,395$24,984$19,267
13 years$37,689$32,980$28,786$25,068$21,787$16,374
14 years$34,636$29,978$25,864$22,253$19,098$13,981
15 years$31,994$27,385$23,352$19,846$16,815$11,984
16 years$29,684$25,125$21,172$17,770$14,862$10,306
17 years$27,647$23,140$19,266$15,966$13,177$8,888
18 years$25,839$21,382$17,587$14,388$11,717$7,682
19 years$24,224$19,817$16,100$13,001$10,443$6,653
20 years$22,771$18,415$14,776$11,775$9,328$5,772
21 years$21,459$17,152$13,591$10,687$8,348$5,015
22 years$20,267$16,011$12,526$9,717$7,482$4,363
23 years$19,181$14,975$11,566$8,849$6,717$3,799
24 years$18,187$14,031$10,696$8,071$6,037$3,312
25 years$17,274$13,167$9,907$7,371$5,432$2,889
26 years$16,432$12,375$9,188$6,739$4,893$2,522
27 years$15,654$11,646$8,532$6,169$4,412$2,203
28 years$14,933$10,974$7,932$5,652$3,981$1,925
29 years$14,263$10,353$7,381$5,183$3,595$1,684
30 years$13,638$9,777$6,875$4,757$3,248$1,473
31 years$13,055$9,243$6,410$4,369$2,936$1,289
32 years$12,510$8,745$5,980$4,015$2,656$1,128
33 years$11,999$8,282$5,584$3,692$2,404$988
34 years$11,519$7,850$5,217$3,397$2,176$865
35 years$11,067$7,445$4,878$3,127$1,971$758
36 years$10,641$7,067$4,563$2,880$1,786$664
37 years$10,239$6,712$4,271$2,654$1,619$582
38 years$9,860$6,378$3,999$2,446$1,468$510
39 years$9,500$6,065$3,747$2,255$1,331$447
40 years$9,160$5,771$3,512$2,080$1,207$392
41 years$8,837$5,493$3,293$1,919$1,095$343
42 years$8,530$5,231$3,089$1,771$994$301
43 years$8,238$4,984$2,899$1,635$902$264
44 years$7,961$4,751$2,721$1,510$819$231
45 years$7,696$4,531$2,555$1,394$743$203
46 years$7,444$4,322$2,400$1,288$675$178
47 years$7,203$4,125$2,254$1,190$613$156
48 years$6,972$3,938$2,119$1,099$556$137
49 years$6,752$3,760$1,991$1,016$505$120
50 years$6,542$3,592$1,872$939$459$105

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,700,000, adding $4,233 every year, while hoping to spend $44,562 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: 65/17/18 Blend
55$6,700,000$6,700,000$6,700,000$6,700,000
56$7,387,766$7,032,666$6,928,816$7,834,608
57$8,093,905$7,329,853$7,113,518$8,431,949
58$8,870,576$7,640,109$7,302,914$9,078,960
59$9,724,927$7,964,027$7,497,114$9,784,947
60$10,664,833$8,302,227$7,696,230$10,555,683
61$11,698,970$8,655,360$7,900,378$11,397,519
62$12,836,898$9,024,106$8,109,674$12,317,447
63$14,089,151$9,409,176$8,324,237$13,323,161
64$15,467,334$9,811,316$8,544,189$14,423,131
65$16,984,237$10,231,305$8,769,654$15,626,678
66$18,653,949$10,669,960$9,000,758$16,944,064
67$20,491,998$11,128,134$9,237,629$18,386,589
68$22,515,491$11,606,722$9,480,399$19,966,691
69$24,743,280$12,106,660$9,729,201$21,698,064
70$27,196,136$12,628,928$9,984,171$23,595,788
71$29,896,949$13,174,552$10,245,447$25,676,467
72$32,870,938$13,744,606$10,513,171$27,958,384
73$36,145,897$14,340,214$10,787,485$30,461,674
74$39,752,448$14,962,554$11,068,535$33,208,510
75$43,724,337$15,612,858$11,356,470$36,223,311
76$48,098,748$16,292,417$11,651,441$39,532,972
77$52,916,657$17,002,583$11,953,601$43,167,112
78$58,223,216$17,744,769$12,263,106$47,158,355
79$64,068,179$18,520,457$12,580,115$51,542,635
80$70,506,373$19,331,200$12,904,789$56,359,530
81$77,598,215$20,178,621$13,237,291$61,652,639
82$85,410,281$21,064,421$13,577,789$67,469,983
83$94,015,935$21,990,383$13,926,450$73,864,463
84$103,496,021$22,958,372$14,283,446$80,894,351
85$113,939,625$23,970,342$14,648,951$88,623,842
86$125,444,917$25,028,339$15,023,141$97,123,653
87$138,120,077$26,134,507$15,406,196$106,471,689
88$152,084,317$27,291,090$15,798,295$116,753,776
89$167,469,003$28,500,439$16,199,624$128,064,464
90$184,418,898$29,765,017$16,610,368$140,507,922
91$203,093,526$31,087,403$17,030,716$154,198,911
92$223,668,679$32,470,299$17,460,858$169,263,870
93$246,338,075$33,916,535$17,900,988$185,842,100
94$271,315,189$35,429,074$18,351,300$204,087,077
95$298,835,262$37,011,024$18,811,993$224,167,897
96$329,157,530$38,665,635$19,283,266$246,270,867
97$362,567,663$40,396,315$19,765,320$270,601,257
98$399,380,465$42,206,636$20,258,359$297,385,239
99$439,942,847$44,100,335$20,762,588$326,872,007
100$484,637,097$46,081,331$21,278,215$359,336,135