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%18.7%
1 years$561,538$556,536$551,656$546,893$542,242$523,211
2 years$277,989$272,812$267,794$262,929$258,210$239,237
3 years$183,485$178,285$173,280$168,461$163,819$145,499
4 years$136,242$131,059$126,104$121,367$116,837$99,311
5 years$107,904$102,752$97,862$93,221$88,818$72,131
6 years$89,018$83,904$79,087$74,550$70,279$54,444
7 years$75,534$70,463$65,722$61,292$57,155$42,170
8 years$65,425$60,400$55,737$51,416$47,416$33,268
9 years$57,566$52,589$48,006$43,795$39,931$26,602
10 years$51,283$46,354$41,853$37,752$34,023$21,490
11 years$46,146$41,267$36,847$32,855$29,261$17,499
12 years$41,868$37,039$32,701$28,819$25,357$14,338
13 years$38,251$33,472$29,216$25,442$22,112$11,807
14 years$35,153$30,425$26,250$22,585$19,383$9,761
15 years$32,471$27,794$23,701$20,142$17,066$8,096
16 years$30,127$25,500$21,488$18,035$15,083$6,733
17 years$28,060$23,485$19,553$16,204$13,374$5,611
18 years$26,225$21,701$17,850$14,603$11,891$4,685
19 years$24,585$20,112$16,341$13,195$10,599$3,917
20 years$23,111$18,689$14,997$11,951$9,467$3,280
21 years$21,779$17,408$13,794$10,846$8,472$2,748
22 years$20,570$16,250$12,713$9,862$7,594$2,305
23 years$19,467$15,198$11,738$8,981$6,817$1,935
24 years$18,458$14,240$10,856$8,191$6,127$1,625
25 years$17,531$13,364$10,055$7,481$5,514$1,365
26 years$16,677$12,560$9,325$6,840$4,966$1,148
27 years$15,888$11,820$8,659$6,261$4,478$965
28 years$15,156$11,138$8,050$5,736$4,040$812
29 years$14,476$10,507$7,491$5,260$3,648$683
30 years$13,842$9,923$6,978$4,828$3,296$575
31 years$13,250$9,381$6,505$4,434$2,980$484
32 years$12,697$8,876$6,070$4,075$2,696$407
33 years$12,178$8,406$5,667$3,747$2,440$343
34 years$11,690$7,967$5,295$3,448$2,209$289
35 years$11,232$7,556$4,950$3,174$2,001$243
36 years$10,800$7,172$4,631$2,923$1,813$205
37 years$10,392$6,812$4,335$2,693$1,643$172
38 years$10,007$6,474$4,059$2,482$1,489$145
39 years$9,642$6,156$3,803$2,289$1,351$122
40 years$9,297$5,857$3,565$2,111$1,225$103
41 years$8,969$5,575$3,342$1,948$1,111$87
42 years$8,657$5,309$3,135$1,798$1,009$73
43 years$8,361$5,059$2,942$1,659$915$62
44 years$8,079$4,822$2,762$1,532$831$52
45 years$7,811$4,598$2,593$1,415$754$44
46 years$7,555$4,387$2,435$1,307$685$37
47 years$7,310$4,186$2,288$1,208$622$31
48 years$7,076$3,996$2,150$1,116$565$26
49 years$6,853$3,816$2,021$1,031$513$22
50 years$6,639$3,645$1,900$953$466$19

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 $4,202 every year, while hoping to spend $55,782 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: 75/6/19 Blend
55$6,800,000$6,800,000$6,800,000$6,800,000
56$7,497,934$7,137,534$7,032,134$8,026,772
57$8,203,372$7,427,922$7,208,359$8,668,163
58$8,978,895$7,730,669$7,388,618$9,363,744
59$9,831,592$8,046,322$7,572,987$10,124,735
60$10,769,276$8,375,453$7,761,543$10,957,642
61$11,800,551$8,718,659$7,954,364$11,869,632
62$12,934,900$9,076,566$8,151,528$12,868,596
63$14,182,770$9,449,828$8,353,114$13,963,225
64$15,555,670$9,839,127$8,559,201$15,163,091
65$17,066,283$10,245,179$8,769,869$16,478,737
66$18,728,582$10,668,731$8,985,198$17,921,774
67$20,557,965$11,110,566$9,205,269$19,504,994
68$22,571,395$11,571,502$9,430,164$21,242,486
69$24,787,566$12,052,393$9,659,962$23,149,768
70$27,227,073$12,554,136$9,894,747$25,243,937
71$29,912,612$13,077,667$10,134,598$27,543,824
72$32,869,190$13,623,964$10,379,599$30,070,177
73$36,124,362$14,194,052$10,629,830$32,845,850
74$39,708,490$14,789,005$10,885,373$35,896,021
75$43,655,032$15,409,942$11,146,309$39,248,431
76$48,000,854$16,058,038$11,412,719$42,933,638
77$52,786,580$16,734,520$11,684,684$46,985,312
78$58,056,973$17,440,674$11,962,283$51,440,546
79$63,861,361$18,177,843$12,245,595$56,340,210
80$70,254,097$18,947,435$12,534,700$61,729,332
81$77,295,077$19,750,922$12,829,675$67,657,524
82$85,050,302$20,589,843$13,130,596$74,179,447
83$93,592,500$21,465,813$13,437,538$81,355,328
84$103,001,814$22,380,517$13,750,575$89,251,527
85$113,366,560$23,335,723$14,069,780$97,941,161
86$124,784,054$24,333,279$14,395,222$107,504,793
87$137,361,537$25,375,119$14,726,972$118,031,195
88$151,217,182$26,463,268$15,065,094$129,618,176
89$166,481,214$27,599,847$15,409,654$142,373,514
90$183,297,133$28,787,075$15,760,712$156,415,963
91$201,823,074$30,027,275$16,118,329$171,876,381
92$222,233,293$31,322,877$16,482,559$188,898,955
93$244,719,819$32,676,429$16,853,455$207,642,568
94$269,494,261$34,090,594$17,231,066$228,282,291
95$296,789,807$35,568,164$17,615,438$251,011,040
96$326,863,422$37,112,059$18,006,610$276,041,390
97$359,998,280$38,725,338$18,404,620$303,607,582
98$396,506,428$40,411,204$18,809,499$333,967,734
99$436,731,741$42,173,009$19,221,274$367,406,273
100$481,053,157$44,014,266$19,639,965$404,236,619