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%12.2%
1 years$553,280$548,351$543,543$538,850$534,267$529,349
2 years$273,901$268,800$263,856$259,063$254,413$249,458
3 years$180,787$175,664$170,732$165,984$161,410$156,571
4 years$134,239$129,131$124,249$119,582$115,119$110,434
5 years$106,317$101,241$96,423$91,850$87,512$82,994
6 years$87,709$82,671$77,924$73,454$69,245$64,901
7 years$74,423$69,427$64,755$60,390$56,315$52,146
8 years$64,463$59,511$54,917$50,660$46,718$42,725
9 years$56,720$51,815$47,300$43,151$39,344$35,524
10 years$50,529$45,673$41,238$37,197$33,523$29,874
11 years$45,467$40,660$36,305$32,372$28,831$25,351
12 years$41,252$36,494$32,220$28,395$24,984$21,669
13 years$37,689$32,980$28,786$25,068$21,787$18,633
14 years$34,636$29,978$25,864$22,253$19,098$16,102
15 years$31,994$27,385$23,352$19,846$16,815$13,972
16 years$29,684$25,125$21,172$17,770$14,862$12,167
17 years$27,647$23,140$19,266$15,966$13,177$10,626
18 years$25,839$21,382$17,587$14,388$11,717$9,304
19 years$24,224$19,817$16,100$13,001$10,443$8,165
20 years$22,771$18,415$14,776$11,775$9,328$7,178
21 years$21,459$17,152$13,591$10,687$8,348$6,321
22 years$20,267$16,011$12,526$9,717$7,482$5,575
23 years$19,181$14,975$11,566$8,849$6,717$4,922
24 years$18,187$14,031$10,696$8,071$6,037$4,351
25 years$17,274$13,167$9,907$7,371$5,432$3,850
26 years$16,432$12,375$9,188$6,739$4,893$3,409
27 years$15,654$11,646$8,532$6,169$4,412$3,021
28 years$14,933$10,974$7,932$5,652$3,981$2,679
29 years$14,263$10,353$7,381$5,183$3,595$2,377
30 years$13,638$9,777$6,875$4,757$3,248$2,110
31 years$13,055$9,243$6,410$4,369$2,936$1,874
32 years$12,510$8,745$5,980$4,015$2,656$1,665
33 years$11,999$8,282$5,584$3,692$2,404$1,480
34 years$11,519$7,850$5,217$3,397$2,176$1,316
35 years$11,067$7,445$4,878$3,127$1,971$1,170
36 years$10,641$7,067$4,563$2,880$1,786$1,041
37 years$10,239$6,712$4,271$2,654$1,619$926
38 years$9,860$6,378$3,999$2,446$1,468$824
39 years$9,500$6,065$3,747$2,255$1,331$733
40 years$9,160$5,771$3,512$2,080$1,207$653
41 years$8,837$5,493$3,293$1,919$1,095$581
42 years$8,530$5,231$3,089$1,771$994$517
43 years$8,238$4,984$2,899$1,635$902$461
44 years$7,961$4,751$2,721$1,510$819$410
45 years$7,696$4,531$2,555$1,394$743$365
46 years$7,444$4,322$2,400$1,288$675$326
47 years$7,203$4,125$2,254$1,190$613$290
48 years$6,972$3,938$2,119$1,099$556$258
49 years$6,752$3,760$1,991$1,016$505$230
50 years$6,542$3,592$1,872$939$459$205

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 $6,490 every year, while hoping to spend $30,363 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: 63/19/18 Blend
55$6,700,000$6,700,000$6,700,000$6,700,000
56$7,390,094$7,034,994$6,931,144$7,821,660
57$8,111,578$7,347,403$7,131,032$8,425,113
58$8,905,635$7,674,102$7,336,598$9,079,832
59$9,779,637$8,015,760$7,548,000$9,794,122
60$10,741,704$8,373,076$7,765,402$10,573,793
61$11,800,785$8,746,784$7,988,970$11,425,234
62$12,966,740$9,137,651$8,218,876$12,355,474
63$14,250,434$9,546,483$8,455,295$13,372,252
64$15,663,839$9,974,121$8,698,408$14,484,079
65$17,220,147$10,421,450$8,948,401$15,700,325
66$18,933,894$10,889,393$9,205,465$17,031,303
67$20,821,098$11,378,920$9,469,795$18,488,361
68$22,899,410$11,891,047$9,741,593$20,083,994
69$25,188,277$12,426,836$10,021,064$21,831,956
70$27,709,133$12,987,403$10,308,421$23,747,386
71$30,485,593$13,573,914$10,603,882$25,846,955
72$33,543,681$14,187,593$10,907,669$28,149,014
73$36,912,074$14,829,722$11,220,013$30,673,771
74$40,622,371$15,501,644$11,541,149$33,443,477
75$44,709,395$16,204,766$11,871,319$36,482,632
76$49,211,516$16,940,563$12,210,772$39,818,216
77$54,171,019$17,710,579$12,559,761$43,479,941
78$59,634,499$18,516,434$12,918,549$47,500,528
79$65,653,303$19,359,824$13,287,405$51,916,012
80$72,284,011$20,242,526$13,666,604$56,766,082
81$79,588,974$21,166,404$14,056,430$62,094,448
82$87,636,902$22,133,410$14,457,173$67,949,257
83$96,503,509$23,145,590$14,869,131$74,383,537
84$106,272,230$24,205,087$15,292,610$81,455,699
85$117,035,009$25,314,149$15,727,924$89,230,083
86$128,893,168$26,475,129$16,175,397$97,777,559
87$141,958,356$27,690,496$16,635,358$107,176,197
88$156,353,614$28,962,836$17,108,148$117,511,997
89$172,214,526$30,294,859$17,594,115$128,879,696
90$189,690,506$31,689,405$18,093,616$141,383,658
91$208,946,204$33,149,452$18,607,019$155,138,854
92$230,163,063$34,678,121$19,134,699$170,271,946
93$253,541,027$36,278,681$19,677,044$186,922,472
94$279,300,436$37,954,560$20,234,449$205,244,160
95$307,684,099$39,709,352$20,807,321$225,406,376
96$338,959,588$41,546,822$21,396,078$247,595,713
97$373,421,766$43,470,916$22,001,146$272,017,748
98$411,395,568$45,485,773$22,622,967$298,898,978
99$453,239,068$47,595,728$23,261,988$328,488,948
100$499,346,862$49,805,327$23,918,673$361,062,601