Can I retire at age 56 with 6,800,000?

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 $6,800,000?

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%
1 years$561,538$556,536$551,656$546,893$542,242$537,474
2 years$277,989$272,812$267,794$262,929$258,210$253,406
3 years$183,485$178,285$173,280$168,461$163,819$159,127
4 years$136,242$131,059$126,104$121,367$116,837$112,293
5 years$107,904$102,752$97,862$93,221$88,818$84,436
6 years$89,018$83,904$79,087$74,550$70,279$66,064
7 years$75,534$70,463$65,722$61,292$57,155$53,109
8 years$65,425$60,400$55,737$51,416$47,416$43,539
9 years$57,566$52,589$48,006$43,795$39,931$36,222
10 years$51,283$46,354$41,853$37,752$34,023$30,480
11 years$46,146$41,267$36,847$32,855$29,261$25,881
12 years$41,868$37,039$32,701$28,819$25,357$22,136
13 years$38,251$33,472$29,216$25,442$22,112$19,047
14 years$35,153$30,425$26,250$22,585$19,383$16,470
15 years$32,471$27,794$23,701$20,142$17,066$14,302
16 years$30,127$25,500$21,488$18,035$15,083$12,462
17 years$28,060$23,485$19,553$16,204$13,374$10,892
18 years$26,225$21,701$17,850$14,603$11,891$9,544
19 years$24,585$20,112$16,341$13,195$10,599$8,381
20 years$23,111$18,689$14,997$11,951$9,467$7,373
21 years$21,779$17,408$13,794$10,846$8,472$6,498
22 years$20,570$16,250$12,713$9,862$7,594$5,735
23 years$19,467$15,198$11,738$8,981$6,817$5,068
24 years$18,458$14,240$10,856$8,191$6,127$4,483
25 years$17,531$13,364$10,055$7,481$5,514$3,969
26 years$16,677$12,560$9,325$6,840$4,966$3,518
27 years$15,888$11,820$8,659$6,261$4,478$3,120
28 years$15,156$11,138$8,050$5,736$4,040$2,769
29 years$14,476$10,507$7,491$5,260$3,648$2,459
30 years$13,842$9,923$6,978$4,828$3,296$2,184
31 years$13,250$9,381$6,505$4,434$2,980$1,942
32 years$12,697$8,876$6,070$4,075$2,696$1,726
33 years$12,178$8,406$5,667$3,747$2,440$1,536
34 years$11,690$7,967$5,295$3,448$2,209$1,366
35 years$11,232$7,556$4,950$3,174$2,001$1,216
36 years$10,800$7,172$4,631$2,923$1,813$1,083
37 years$10,392$6,812$4,335$2,693$1,643$964
38 years$10,007$6,474$4,059$2,482$1,489$859
39 years$9,642$6,156$3,803$2,289$1,351$765
40 years$9,297$5,857$3,565$2,111$1,225$681
41 years$8,969$5,575$3,342$1,948$1,111$607
42 years$8,657$5,309$3,135$1,798$1,009$541
43 years$8,361$5,059$2,942$1,659$915$482
44 years$8,079$4,822$2,762$1,532$831$430
45 years$7,811$4,598$2,593$1,415$754$383
46 years$7,555$4,387$2,435$1,307$685$342
47 years$7,310$4,186$2,288$1,208$622$305
48 years$7,076$3,996$2,150$1,116$565$272
49 years$6,853$3,816$2,021$1,031$513$242
50 years$6,639$3,645$1,900$953$466$216

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,800,000, adding $5,661 every year, while hoping to spend $26,241 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: 65/30/5 Blend
55$6,800,000$6,800,000$6,800,000$6,800,000
56$7,499,439$7,139,039$7,033,639$7,981,485
57$8,236,462$7,460,932$7,241,346$8,624,238
58$9,047,781$7,797,718$7,455,131$9,322,493
59$9,940,948$8,150,099$7,675,171$10,084,608
60$10,924,282$8,518,811$7,901,647$10,916,784
61$12,006,951$8,904,625$8,134,744$11,825,841
62$13,199,056$9,308,348$8,374,655$12,819,277
63$14,511,730$9,730,827$8,621,575$13,905,343
64$15,957,236$10,172,947$8,875,708$15,093,115
65$17,549,092$10,635,639$9,137,261$16,392,576
66$19,302,189$11,119,876$9,406,450$17,814,713
67$21,232,940$11,626,677$9,683,493$19,371,612
68$23,359,428$12,157,113$9,968,619$21,076,577
69$25,701,581$12,712,302$10,262,059$22,944,245
70$28,281,357$13,293,420$10,564,053$24,990,728
71$31,122,955$13,901,697$10,874,847$27,233,757
72$34,253,037$14,538,421$11,194,696$29,692,853
73$37,700,988$15,204,945$11,523,859$32,389,500
74$41,499,185$15,902,683$11,862,605$35,347,351
75$45,683,308$16,633,121$12,211,208$38,592,445
76$50,292,674$17,397,813$12,569,953$42,153,448
77$55,370,611$18,198,389$12,939,130$46,061,923
78$60,964,862$19,036,559$13,319,039$50,352,624
79$67,128,039$19,914,112$13,709,988$55,063,816
80$73,918,120$20,832,925$14,112,294$60,237,634
81$81,398,995$21,794,965$14,526,283$65,920,480
82$89,641,068$22,802,293$14,952,289$72,163,450
83$98,721,923$23,857,071$15,390,656$79,022,816
84$108,727,054$24,961,563$15,841,739$86,560,548
85$119,750,678$26,118,144$16,305,901$94,844,899
86$131,896,615$27,329,301$16,783,516$103,951,039
87$145,279,276$28,597,643$17,274,970$113,961,761
88$160,024,738$29,925,903$17,780,658$124,968,255
89$176,271,937$31,316,948$18,300,986$137,070,963
90$194,173,978$32,773,782$18,836,372$150,380,523
91$213,899,580$34,299,553$19,387,246$165,018,800
92$235,634,668$35,897,562$19,954,050$181,120,036
93$259,584,131$37,571,270$20,537,238$198,832,103
94$285,973,753$39,324,303$21,137,276$218,317,898
95$315,052,346$41,160,464$21,754,645$239,756,866
96$347,094,098$43,083,739$22,389,838$263,346,687
97$382,401,160$45,098,307$23,043,362$289,305,135
98$421,306,502$47,208,547$23,715,738$317,872,120
99$464,177,052$49,419,053$24,407,502$349,311,948
100$511,417,162$51,734,638$25,119,204$383,915,798