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%12.6%
1 years$594,569$589,273$584,106$579,063$574,138$567,906
2 years$294,341$288,859$283,547$278,396$273,399$267,124
3 years$194,278$188,773$183,473$178,371$173,456$167,333
4 years$144,257$138,768$133,522$128,506$123,710$117,786
5 years$114,251$108,796$103,618$98,705$94,042$88,335
6 years$94,255$88,840$83,739$78,935$74,413$68,928
7 years$79,977$74,608$69,587$64,897$60,517$55,259
8 years$69,273$63,953$59,016$54,440$50,205$45,172
9 years$60,953$55,682$50,830$46,371$42,280$37,470
10 years$54,300$49,081$44,315$39,972$36,025$31,435
11 years$48,860$43,694$39,014$34,788$30,982$26,610
12 years$44,331$39,217$34,624$30,514$26,849$22,688
13 years$40,501$35,441$30,934$26,939$23,413$19,459
14 years$37,221$32,215$27,795$23,913$20,523$16,771
15 years$34,381$29,429$25,095$21,327$18,070$14,514
16 years$31,899$27,000$22,752$19,096$15,971$12,603
17 years$29,711$24,866$20,704$17,157$14,161$10,977
18 years$27,768$22,978$18,900$15,462$12,591$9,584
19 years$26,031$21,296$17,302$13,971$11,223$8,386
20 years$24,471$19,789$15,879$12,654$10,024$7,351
21 years$23,060$18,433$14,605$11,484$8,971$6,454
22 years$21,780$17,206$13,461$10,442$8,041$5,675
23 years$20,613$16,092$12,429$9,509$7,218$4,995
24 years$19,544$15,078$11,495$8,673$6,488$4,402
25 years$18,563$14,150$10,646$7,921$5,838$3,883
26 years$17,658$13,298$9,874$7,242$5,259$3,427
27 years$16,822$12,515$9,169$6,629$4,741$3,028
28 years$16,047$11,793$8,524$6,074$4,278$2,676
29 years$15,327$11,125$7,932$5,570$3,863$2,367
30 years$14,656$10,507$7,388$5,112$3,490$2,094
31 years$14,030$9,932$6,888$4,695$3,156$1,854
32 years$13,444$9,398$6,427$4,314$2,854$1,642
33 years$12,894$8,900$6,000$3,968$2,583$1,454
34 years$12,378$8,435$5,606$3,650$2,339$1,289
35 years$11,893$8,001$5,242$3,360$2,118$1,142
36 years$11,435$7,594$4,903$3,095$1,919$1,012
37 years$11,004$7,212$4,590$2,852$1,740$898
38 years$10,596$6,854$4,298$2,628$1,577$796
39 years$10,209$6,518$4,027$2,423$1,430$706
40 years$9,844$6,201$3,774$2,235$1,297$626
41 years$9,496$5,903$3,539$2,062$1,177$556
42 years$9,167$5,622$3,320$1,903$1,068$493
43 years$8,853$5,356$3,115$1,757$969$438
44 years$8,555$5,106$2,924$1,622$880$388
45 years$8,270$4,869$2,746$1,498$799$345
46 years$7,999$4,645$2,579$1,384$725$306
47 years$7,740$4,432$2,423$1,279$658$272
48 years$7,493$4,231$2,277$1,181$598$241
49 years$7,256$4,041$2,140$1,092$543$214
50 years$7,030$3,860$2,012$1,009$493$190

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 $5,330 every year, while hoping to spend $27,433 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: 60/14/26 Blend
55$7,200,000$7,200,000$7,200,000$7,200,000
56$7,939,898$7,558,298$7,446,698$8,360,452
57$8,720,579$7,899,466$7,666,974$8,988,596
58$9,579,970$8,256,432$7,893,709$9,670,246
59$10,526,071$8,629,941$8,127,092$10,413,446
60$11,567,695$9,020,773$8,367,315$11,224,192
61$12,714,557$9,429,747$8,614,577$12,109,077
62$13,977,357$9,857,720$8,869,080$13,075,360
63$15,367,889$10,305,590$9,131,036$14,131,027
64$16,899,148$10,774,299$9,400,660$15,284,866
65$18,585,453$11,264,831$9,678,174$16,546,549
66$20,442,583$11,778,222$9,963,807$17,926,722
67$22,487,924$12,315,552$10,257,792$19,437,104
68$24,740,637$12,877,959$10,560,373$21,090,596
69$27,221,833$13,466,630$10,871,796$22,901,396
70$29,954,777$14,082,812$11,192,319$24,885,141
71$32,965,105$14,727,811$11,522,202$27,059,044
72$36,281,067$15,402,995$11,861,718$29,442,056
73$39,933,794$16,109,799$12,211,143$32,055,046
74$43,957,588$16,849,727$12,570,764$34,920,995
75$48,390,252$17,624,353$12,940,874$38,065,205
76$53,273,440$18,435,330$13,321,776$41,515,545
77$58,653,057$19,284,386$13,713,781$45,302,703
78$64,579,684$20,173,337$14,117,209$49,460,476
79$71,109,064$21,104,083$14,532,387$54,026,090
80$78,302,622$22,078,616$14,959,655$59,040,541
81$86,228,046$23,099,025$15,399,361$64,548,986
82$94,959,928$24,167,499$15,851,861$70,601,163
83$104,580,466$25,286,331$16,317,523$77,251,855
84$115,180,239$26,457,927$16,796,726$84,561,411
85$126,859,065$27,684,807$17,289,858$92,596,302
86$139,726,940$28,969,613$17,797,318$101,429,756
87$153,905,079$30,315,114$18,319,519$111,142,435
88$169,527,056$31,724,214$18,856,882$121,823,200
89$186,740,069$33,199,954$19,409,841$133,569,943
90$205,706,330$34,745,526$19,978,845$146,490,505
91$226,604,591$36,364,272$20,564,351$160,703,691
92$249,631,835$38,059,697$21,166,833$176,340,391
93$275,005,136$39,835,475$21,786,775$193,544,802
94$302,963,705$41,695,459$22,424,678$212,475,792
95$333,771,152$43,643,686$23,081,053$233,308,389
96$367,717,971$45,684,387$23,756,429$256,235,433
97$405,124,283$47,822,001$24,451,349$281,469,384
98$446,342,860$50,061,179$25,166,369$309,244,330
99$491,762,452$52,406,798$25,902,064$339,818,183
100$541,811,461$54,863,970$26,659,021$373,475,109