Can I retire at age 56 with 7,100,000?

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$586,311$581,089$575,993$571,020$566,164$544,130
2 years$290,253$284,847$279,608$274,529$269,602$247,670
3 years$191,580$186,151$180,925$175,893$171,047$149,906
4 years$142,253$136,841$131,667$126,721$121,992$101,804
5 years$112,665$107,285$102,179$97,334$92,736$73,553
6 years$92,945$87,606$82,576$77,839$73,379$55,213
7 years$78,866$73,571$68,621$63,996$59,677$42,521
8 years$68,311$63,064$58,196$53,684$49,508$33,346
9 years$60,106$54,909$50,124$45,727$41,693$26,501
10 years$53,546$48,399$43,699$39,417$35,524$21,274
11 years$48,182$43,087$38,472$34,305$30,552$17,211
12 years$43,715$38,673$34,143$30,090$26,476$14,008
13 years$39,939$34,949$30,505$26,565$23,087$11,456
14 years$36,704$31,768$27,409$23,581$20,238$9,405
15 years$33,904$29,020$24,746$21,030$17,819$7,746
16 years$31,456$26,625$22,436$18,830$15,749$6,395
17 years$29,298$24,521$20,416$16,919$13,964$5,290
18 years$27,382$22,659$18,637$15,247$12,416$4,384
19 years$25,670$21,000$17,061$13,777$11,067$3,638
20 years$24,131$19,514$15,658$12,478$9,885$3,022
21 years$22,740$18,177$14,402$11,325$8,846$2,513
22 years$21,477$16,967$13,274$10,297$7,929$2,092
23 years$20,326$15,869$12,256$9,377$7,118$1,742
24 years$19,273$14,868$11,335$8,553$6,398$1,451
25 years$18,305$13,953$10,498$7,811$5,757$1,210
26 years$17,413$13,114$9,737$7,142$5,186$1,009
27 years$16,589$12,341$9,041$6,537$4,675$841
28 years$15,824$11,629$8,405$5,989$4,218$702
29 years$15,114$10,971$7,822$5,492$3,809$586
30 years$14,453$10,361$7,286$5,041$3,442$489
31 years$13,835$9,794$6,792$4,629$3,112$408
32 years$13,257$9,268$6,337$4,255$2,815$341
33 years$12,715$8,777$5,917$3,912$2,547$285
34 years$12,206$8,318$5,529$3,600$2,306$238
35 years$11,728$7,890$5,169$3,314$2,089$198
36 years$11,276$7,488$4,835$3,052$1,893$166
37 years$10,851$7,112$4,526$2,812$1,715$138
38 years$10,448$6,759$4,238$2,592$1,555$116
39 years$10,068$6,427$3,971$2,390$1,410$97
40 years$9,707$6,115$3,722$2,204$1,279$81
41 years$9,364$5,821$3,490$2,034$1,161$67
42 years$9,039$5,544$3,274$1,877$1,053$56
43 years$8,730$5,282$3,072$1,733$956$47
44 years$8,436$5,035$2,883$1,600$867$39
45 years$8,155$4,801$2,707$1,477$788$33
46 years$7,888$4,580$2,543$1,365$715$27
47 years$7,633$4,371$2,389$1,261$649$23
48 years$7,389$4,173$2,245$1,165$590$19
49 years$7,155$3,985$2,110$1,077$536$16
50 years$6,932$3,806$1,984$995$486$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,100,000, adding $2,736 every year, while hoping to spend $36,817 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: 53/22/25 Blend
55$7,100,000$7,100,000$7,100,000$7,100,000
56$7,827,022$7,450,722$7,340,672$8,187,368
57$8,586,205$7,776,635$7,547,412$8,762,481
58$9,421,591$8,117,283$7,759,843$9,383,989
59$10,340,914$8,473,350$7,978,118$10,059,592
60$11,352,695$8,845,551$8,202,392$10,794,472
61$12,466,322$9,234,636$8,432,825$11,594,328
62$13,692,143$9,641,390$8,669,581$12,465,425
63$15,041,557$10,066,633$8,912,827$13,414,656
64$16,527,125$10,511,227$9,162,736$14,449,599
65$18,162,687$10,976,073$9,419,483$15,578,592
66$19,963,496$11,462,114$9,683,250$16,810,807
67$21,946,355$11,970,341$9,954,222$18,156,337
68$24,129,784$12,501,788$10,232,589$19,626,284
69$26,534,187$13,057,541$10,518,546$21,232,867
70$29,182,048$13,638,735$10,812,291$22,989,532
71$32,098,145$14,246,560$11,114,031$24,911,079
72$35,309,779$14,882,265$11,423,974$27,013,795
73$38,847,034$15,547,154$11,742,335$29,315,607
74$42,743,063$16,242,595$12,069,334$31,836,253
75$47,034,396$16,970,023$12,405,198$34,597,456
76$51,761,288$17,730,938$12,750,156$37,623,136
77$56,968,100$18,526,914$13,104,446$40,939,624
78$62,703,711$19,359,598$13,468,310$44,575,913
79$69,021,988$20,230,717$13,841,997$48,563,927
80$75,982,288$21,142,079$14,225,761$52,938,818
81$83,650,020$22,095,580$14,619,863$57,739,293
82$92,097,264$23,093,205$15,024,570$63,007,979
83$101,403,447$24,137,034$15,440,155$68,791,816
84$111,656,097$25,229,248$15,866,899$75,142,502
85$122,951,667$26,372,128$16,305,088$82,116,972
86$135,396,444$27,568,070$16,755,015$89,777,933
87$149,107,555$28,819,579$17,216,982$98,194,451
88$164,214,070$30,129,283$17,691,296$107,442,596
89$180,858,223$31,499,936$18,178,272$117,606,158
90$199,196,751$32,934,421$18,678,233$128,777,430
91$219,402,374$34,435,763$19,191,508$141,058,075
92$241,665,429$36,007,128$19,718,437$154,560,079
93$266,195,662$37,651,836$20,259,364$169,406,802
94$293,224,210$39,373,367$20,814,643$185,734,137
95$323,005,783$41,175,365$21,384,637$203,691,784
96$355,821,066$43,061,651$21,969,715$223,444,658
97$391,979,372$45,036,229$22,570,258$245,174,440
98$431,821,558$47,103,295$23,186,652$269,081,278
99$475,723,247$49,267,247$23,819,295$295,385,676
100$524,098,369$51,532,692$24,468,591$324,330,564