Can I retire at age 56 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$594,569$589,273$584,106$579,063$574,138$570,759
2 years$294,341$288,859$283,547$278,396$273,399$269,990
3 years$194,278$188,773$183,473$178,371$173,456$170,122
4 years$144,257$138,768$133,522$128,506$123,710$120,478
5 years$114,251$108,796$103,618$98,705$94,042$90,921
6 years$94,255$88,840$83,739$78,935$74,413$71,406
7 years$79,977$74,608$69,587$64,897$60,517$57,627
8 years$69,273$63,953$59,016$54,440$50,205$47,431
9 years$60,953$55,682$50,830$46,371$42,280$39,621
10 years$54,300$49,081$44,315$39,972$36,025$33,480
11 years$48,860$43,694$39,014$34,788$30,982$28,551
12 years$44,331$39,217$34,624$30,514$26,849$24,528
13 years$40,501$35,441$30,934$26,939$23,413$21,200
14 years$37,221$32,215$27,795$23,913$20,523$18,416
15 years$34,381$29,429$25,095$21,327$18,070$16,066
16 years$31,899$27,000$22,752$19,096$15,971$14,067
17 years$29,711$24,866$20,704$17,157$14,161$12,354
18 years$27,768$22,978$18,900$15,462$12,591$10,878
19 years$26,031$21,296$17,302$13,971$11,223$9,601
20 years$24,471$19,789$15,879$12,654$10,024$8,490
21 years$23,060$18,433$14,605$11,484$8,971$7,521
22 years$21,780$17,206$13,461$10,442$8,041$6,672
23 years$20,613$16,092$12,429$9,509$7,218$5,927
24 years$19,544$15,078$11,495$8,673$6,488$5,272
25 years$18,563$14,150$10,646$7,921$5,838$4,693
26 years$17,658$13,298$9,874$7,242$5,259$4,182
27 years$16,822$12,515$9,169$6,629$4,741$3,730
28 years$16,047$11,793$8,524$6,074$4,278$3,328
29 years$15,327$11,125$7,932$5,570$3,863$2,972
30 years$14,656$10,507$7,388$5,112$3,490$2,656
31 years$14,030$9,932$6,888$4,695$3,156$2,374
32 years$13,444$9,398$6,427$4,314$2,854$2,123
33 years$12,894$8,900$6,000$3,968$2,583$1,900
34 years$12,378$8,435$5,606$3,650$2,339$1,700
35 years$11,893$8,001$5,242$3,360$2,118$1,522
36 years$11,435$7,594$4,903$3,095$1,919$1,363
37 years$11,004$7,212$4,590$2,852$1,740$1,221
38 years$10,596$6,854$4,298$2,628$1,577$1,094
39 years$10,209$6,518$4,027$2,423$1,430$980
40 years$9,844$6,201$3,774$2,235$1,297$879
41 years$9,496$5,903$3,539$2,062$1,177$788
42 years$9,167$5,622$3,320$1,903$1,068$706
43 years$8,853$5,356$3,115$1,757$969$633
44 years$8,555$5,106$2,924$1,622$880$568
45 years$8,270$4,869$2,746$1,498$799$509
46 years$7,999$4,645$2,579$1,384$725$457
47 years$7,740$4,432$2,423$1,279$658$410
48 years$7,493$4,231$2,277$1,181$598$368
49 years$7,256$4,041$2,140$1,092$543$330
50 years$7,030$3,860$2,012$1,009$493$296

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,200,000, adding $6,932 every year, while hoping to spend $36,975 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: 26/49/25 Blend
55$7,200,000$7,200,000$7,200,000$7,200,000
56$7,941,550$7,559,950$7,448,350$8,085,349
57$8,712,247$7,891,047$7,658,529$8,533,400
58$9,560,316$8,237,128$7,874,509$9,010,155
59$10,493,610$8,598,888$8,096,447$9,520,929
60$11,520,781$8,977,057$8,324,501$10,068,617
61$12,651,363$9,372,395$8,558,834$10,656,386
62$13,895,862$9,785,702$8,799,615$11,287,698
63$15,265,853$10,217,815$9,047,015$11,966,345
64$16,774,090$10,669,607$9,301,210$12,696,476
65$18,434,627$11,141,998$9,562,380$13,482,638
66$20,262,951$11,635,948$9,830,712$14,329,808
67$22,276,126$12,152,464$10,106,395$15,243,443
68$24,492,955$12,692,598$10,389,623$16,229,522
69$26,934,157$13,257,457$10,680,596$17,294,601
70$29,622,564$13,848,195$10,979,519$18,445,869
71$32,583,334$14,466,025$11,286,601$19,691,211
72$35,844,189$15,112,215$11,602,057$21,039,278
73$39,435,678$15,788,095$11,926,108$22,499,564
74$43,391,464$16,495,058$12,258,979$24,082,487
75$47,748,640$17,234,563$12,600,902$25,799,486
76$52,548,082$18,008,138$12,952,113$27,663,119
77$57,834,834$18,817,384$13,312,856$29,687,178
78$63,658,529$19,663,978$13,683,380$31,886,811
79$70,073,865$20,549,679$14,063,939$34,278,659
80$77,141,114$21,476,328$14,454,795$36,881,006
81$84,926,693$22,445,853$14,856,216$39,713,942
82$93,503,792$23,460,276$15,268,475$42,799,547
83$102,953,064$24,521,715$15,691,855$46,162,092
84$113,363,387$25,632,389$16,126,642$49,828,257
85$124,832,699$26,794,623$16,573,132$53,827,375
86$137,468,928$28,010,854$17,031,625$58,191,699
87$151,391,006$29,283,633$17,502,432$62,956,698
88$166,729,994$30,615,636$17,985,869$68,161,381
89$183,630,318$32,009,667$18,482,260$73,848,653
90$202,251,131$33,468,661$18,991,937$80,065,711
91$222,767,819$34,995,698$19,515,239$86,864,476
92$245,373,651$36,594,002$20,052,514$94,302,072
93$270,281,610$38,266,954$20,604,119$102,441,351
94$297,726,395$40,018,096$21,170,418$111,351,476
95$327,966,644$41,851,139$21,751,784$121,108,555
96$361,287,371$43,769,975$22,348,599$131,796,350
97$398,002,659$45,778,680$22,961,253$143,507,047
98$438,458,622$47,881,526$23,590,146$156,342,116
99$483,036,672$50,082,992$24,235,687$170,413,247
100$532,157,125$52,387,771$24,898,295$185,843,389