Can I retire at age 56 with 6,900,000?

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 $6,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$569,796$564,720$559,768$554,935$550,216$538,666
2 years$282,077$276,824$271,732$266,796$262,007$250,426
3 years$186,183$180,907$175,829$170,939$166,228$154,976
4 years$138,246$132,986$127,958$123,152$118,555$107,719
5 years$109,491$104,263$99,301$94,592$90,124$79,735
6 years$90,327$85,138$80,250$75,646$71,312$61,380
7 years$76,644$71,499$66,688$62,193$57,996$48,524
8 years$66,387$61,288$56,557$52,172$48,113$39,098
9 years$58,413$53,362$48,712$44,439$40,518$31,954
10 years$52,037$47,036$42,468$38,307$34,524$26,401
11 years$46,825$41,873$37,389$33,338$29,691$22,001
12 years$42,484$37,583$33,181$29,242$25,730$18,459
13 years$38,814$33,964$29,645$25,817$22,437$15,574
14 years$35,670$30,873$26,637$22,917$19,668$13,199
15 years$32,949$28,203$24,049$20,438$17,317$11,229
16 years$30,570$25,875$21,804$18,300$15,305$9,582
17 years$28,473$23,830$19,841$16,442$13,571$8,198
18 years$26,611$22,020$18,112$14,818$12,066$7,030
19 years$24,947$20,408$16,581$13,389$10,755$6,039
20 years$23,451$18,964$15,217$12,127$9,607$5,196
21 years$22,099$17,665$13,997$11,006$8,597$4,477
22 years$20,872$16,489$12,900$10,007$7,706$3,862
23 years$19,754$15,422$11,911$9,113$6,917$3,334
24 years$18,730$14,449$11,016$8,312$6,217$2,881
25 years$17,789$13,560$10,203$7,591$5,595$2,492
26 years$16,922$12,744$9,463$6,941$5,039$2,156
27 years$16,121$11,994$8,787$6,353$4,543$1,867
28 years$15,379$11,302$8,168$5,821$4,100$1,617
29 years$14,688$10,662$7,601$5,338$3,702$1,401
30 years$14,045$10,069$7,080$4,899$3,345$1,215
31 years$13,445$9,519$6,601$4,499$3,024$1,053
32 years$12,883$9,006$6,159$4,135$2,736$914
33 years$12,357$8,529$5,750$3,802$2,476$793
34 years$11,862$8,084$5,373$3,498$2,241$688
35 years$11,397$7,667$5,023$3,220$2,030$597
36 years$10,959$7,277$4,699$2,966$1,839$518
37 years$10,545$6,912$4,398$2,733$1,667$450
38 years$10,154$6,569$4,119$2,519$1,511$390
39 years$9,784$6,246$3,859$2,322$1,371$339
40 years$9,433$5,943$3,617$2,142$1,243$294
41 years$9,101$5,657$3,392$1,976$1,128$256
42 years$8,785$5,388$3,181$1,824$1,023$222
43 years$8,484$5,133$2,985$1,684$929$193
44 years$8,198$4,893$2,802$1,555$843$167
45 years$7,926$4,666$2,631$1,436$765$145
46 years$7,666$4,451$2,471$1,326$695$126
47 years$7,418$4,248$2,322$1,225$631$110
48 years$7,180$4,055$2,182$1,132$573$95
49 years$6,954$3,872$2,051$1,046$520$83
50 years$6,737$3,699$1,928$967$473$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,900,000, adding $3,853 every year, while hoping to spend $45,430 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: 40/37/23 Blend
55$6,900,000$6,900,000$6,900,000$6,900,000
56$7,607,774$7,242,074$7,135,124$7,860,163
57$8,335,430$7,548,599$7,325,814$8,348,699
58$9,135,784$7,868,620$7,521,369$8,872,291
59$10,016,204$8,202,752$7,721,904$9,437,839
60$10,984,806$8,551,637$7,927,538$10,049,200
61$12,050,535$8,915,946$8,138,389$10,710,604
62$13,223,244$9,296,382$8,354,579$11,426,697
63$14,513,792$9,693,681$8,576,235$12,202,581
64$15,934,141$10,108,614$8,803,481$13,043,859
65$17,497,475$10,541,987$9,036,449$13,956,685
66$19,218,317$10,994,644$9,275,269$14,947,821
67$21,112,672$11,467,468$9,520,077$16,024,696
68$23,198,174$11,961,384$9,771,010$17,195,476
69$25,494,257$12,477,361$10,028,208$18,469,135
70$28,022,331$13,016,411$10,291,812$19,855,539
71$30,805,989$13,579,596$10,561,969$21,365,534
72$33,871,230$14,168,027$10,838,825$23,011,046
73$37,246,702$14,782,866$11,122,532$24,805,192
74$40,963,970$15,425,331$11,413,241$26,762,393
75$45,057,820$16,096,697$11,711,110$28,898,517
76$49,566,582$16,798,300$12,016,296$31,231,014
77$54,532,493$17,531,536$12,328,962$33,779,083
78$60,002,096$18,297,869$12,649,270$36,563,848
79$66,026,677$19,098,833$12,977,388$39,608,552
80$72,662,753$19,936,031$13,313,486$42,938,769
81$79,972,602$20,811,145$13,657,736$46,582,645
82$88,024,851$21,725,933$14,010,313$50,571,156
83$96,895,122$22,682,241$14,371,395$54,938,395
84$106,666,751$23,681,997$14,741,163$59,721,887
85$117,431,568$24,727,224$15,119,801$64,962,941
86$129,290,768$25,820,038$15,507,495$70,707,029
87$142,355,864$26,962,657$15,904,433$77,004,211
88$156,749,739$28,157,404$16,310,808$83,909,603
89$172,607,806$29,406,711$16,726,815$91,483,885
90$190,079,289$30,713,126$17,152,649$99,793,870
91$209,328,626$32,079,319$17,588,512$108,913,127
92$230,537,025$33,508,084$18,034,606$118,922,666
93$253,904,171$35,002,350$18,491,136$129,911,694
94$279,650,117$36,565,186$18,958,309$141,978,449
95$308,017,352$38,199,803$19,436,336$155,231,119
96$339,273,097$39,909,569$19,925,428$169,788,853
97$373,711,825$41,698,009$20,425,801$185,782,872
98$411,658,038$43,568,818$20,937,673$203,357,705
99$453,469,334$45,525,867$21,461,261$222,672,536
100$499,539,781$47,573,210$21,996,789$243,902,695