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%13.8%
1 years$586,311$581,089$575,993$571,020$566,164$557,243
2 years$290,253$284,847$279,608$274,529$269,602$260,638
3 years$191,580$186,151$180,925$175,893$171,047$162,318
4 years$142,253$136,841$131,667$126,721$121,992$113,565
5 years$112,665$107,285$102,179$97,334$92,736$84,637
6 years$92,945$87,606$82,576$77,839$73,379$65,616
7 years$78,866$73,571$68,621$63,996$59,677$52,252
8 years$68,311$63,064$58,196$53,684$49,508$42,420
9 years$60,106$54,909$50,124$45,727$41,693$34,939
10 years$53,546$48,399$43,699$39,417$35,524$29,099
11 years$48,182$43,087$38,472$34,305$30,552$24,448
12 years$43,715$38,673$34,143$30,090$26,476$20,686
13 years$39,939$34,949$30,505$26,565$23,087$17,603
14 years$36,704$31,768$27,409$23,581$20,238$15,051
15 years$33,904$29,020$24,746$21,030$17,819$12,919
16 years$31,456$26,625$22,436$18,830$15,749$11,126
17 years$29,298$24,521$20,416$16,919$13,964$9,608
18 years$27,382$22,659$18,637$15,247$12,416$8,317
19 years$25,670$21,000$17,061$13,777$11,067$7,214
20 years$24,131$19,514$15,658$12,478$9,885$6,268
21 years$22,740$18,177$14,402$11,325$8,846$5,454
22 years$21,477$16,967$13,274$10,297$7,929$4,752
23 years$20,326$15,869$12,256$9,377$7,118$4,144
24 years$19,273$14,868$11,335$8,553$6,398$3,618
25 years$18,305$13,953$10,498$7,811$5,757$3,161
26 years$17,413$13,114$9,737$7,142$5,186$2,764
27 years$16,589$12,341$9,041$6,537$4,675$2,418
28 years$15,824$11,629$8,405$5,989$4,218$2,117
29 years$15,114$10,971$7,822$5,492$3,809$1,854
30 years$14,453$10,361$7,286$5,041$3,442$1,625
31 years$13,835$9,794$6,792$4,629$3,112$1,424
32 years$13,257$9,268$6,337$4,255$2,815$1,248
33 years$12,715$8,777$5,917$3,912$2,547$1,095
34 years$12,206$8,318$5,529$3,600$2,306$960
35 years$11,728$7,890$5,169$3,314$2,089$843
36 years$11,276$7,488$4,835$3,052$1,893$740
37 years$10,851$7,112$4,526$2,812$1,715$649
38 years$10,448$6,759$4,238$2,592$1,555$570
39 years$10,068$6,427$3,971$2,390$1,410$500
40 years$9,707$6,115$3,722$2,204$1,279$439
41 years$9,364$5,821$3,490$2,034$1,161$386
42 years$9,039$5,544$3,274$1,877$1,053$339
43 years$8,730$5,282$3,072$1,733$956$297
44 years$8,436$5,035$2,883$1,600$867$261
45 years$8,155$4,801$2,707$1,477$788$230
46 years$7,888$4,580$2,543$1,365$715$202
47 years$7,633$4,371$2,389$1,261$649$177
48 years$7,389$4,173$2,245$1,165$590$156
49 years$7,155$3,985$2,110$1,077$536$137
50 years$6,932$3,806$1,984$995$486$120

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 $4,668 every year, while hoping to spend $49,748 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: 69/9/22 Blend
55$7,100,000$7,100,000$7,100,000$7,100,000
56$7,829,015$7,452,715$7,342,665$8,325,743
57$8,574,643$7,764,967$7,535,713$8,970,821
58$9,394,658$8,090,851$7,733,560$9,670,233
59$10,296,594$8,430,984$7,936,316$10,434,401
60$11,288,754$8,786,010$8,144,090$11,269,725
61$12,380,284$9,156,601$8,356,994$12,183,248
62$13,581,263$9,543,465$8,575,143$13,182,728
63$14,902,795$9,947,337$8,798,653$14,276,703
64$16,357,114$10,368,991$9,027,643$15,474,577
65$17,957,703$10,809,235$9,262,231$16,786,705
66$19,719,414$11,268,913$9,502,542$18,224,488
67$21,658,616$11,748,911$9,748,699$19,800,485
68$23,793,343$12,250,156$10,000,829$21,528,525
69$26,143,467$12,773,617$10,259,059$23,423,839
70$28,730,885$13,320,308$10,523,521$25,503,202
71$31,579,723$13,891,291$10,794,348$27,785,091
72$34,716,570$14,487,679$11,071,673$30,289,858
73$38,170,719$15,110,635$11,355,634$33,039,920
74$41,974,454$15,761,377$11,646,368$36,059,970
75$46,163,344$16,441,181$11,944,018$39,377,207
76$50,776,587$17,151,381$12,248,725$43,021,595
77$55,857,376$17,893,375$12,560,633$47,026,143
78$61,453,304$18,668,626$12,879,891$51,427,211
79$67,616,820$19,478,667$13,206,645$56,264,857
80$74,405,715$20,325,101$13,541,047$61,583,213
81$81,883,674$21,209,608$13,883,249$67,430,896
82$90,120,876$22,133,946$14,233,405$73,861,470
83$99,194,652$23,099,956$14,591,671$80,933,945
84$109,190,219$24,109,566$14,958,204$88,713,336
85$120,201,481$25,164,794$15,333,164$97,271,275
86$132,331,919$26,267,756$15,716,711$106,686,682
87$145,695,563$27,420,664$16,109,009$117,046,509
88$160,418,070$28,625,837$16,510,221$128,446,561
89$176,637,913$29,885,703$16,920,513$140,992,395
90$194,507,682$31,202,804$17,340,052$154,800,317
91$214,195,526$32,579,802$17,769,005$169,998,476
92$235,886,746$34,019,488$18,207,542$186,728,069
93$259,785,532$35,524,782$18,655,833$205,144,677
94$286,116,903$37,098,742$19,114,050$225,419,725
95$315,128,820$38,744,574$19,582,364$247,742,102
96$347,094,535$40,465,633$20,060,949$272,319,938
97$382,315,164$42,265,436$20,549,977$299,382,569
98$421,122,532$44,147,663$21,049,623$329,182,695
99$463,882,306$46,116,174$21,560,060$361,998,765
100$510,997,442$48,175,008$22,081,463$398,137,602