Can I retire at age 56 with 7,500,000?

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 $7,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$619,343$613,826$608,444$603,190$598,061$594,790
2 years$306,605$300,895$295,361$289,995$284,791$281,491
3 years$202,373$196,638$191,118$185,803$180,683$177,456
4 years$150,267$144,550$139,085$133,860$128,865$125,735
5 years$119,012$113,329$107,936$102,818$97,961$94,938
6 years$98,182$92,542$87,228$82,224$77,513$74,600
7 years$83,309$77,716$72,487$67,601$63,039$60,238
8 years$72,160$66,617$61,475$56,709$52,297$49,608
9 years$63,492$58,002$52,948$48,303$44,041$41,464
10 years$56,562$51,126$46,161$41,638$37,526$35,059
11 years$50,896$45,515$40,640$36,237$32,273$29,915
12 years$46,178$40,851$36,067$31,785$27,967$25,716
13 years$42,189$36,918$32,223$28,062$24,388$22,241
14 years$38,772$33,557$28,953$24,910$21,378$19,333
15 years$35,814$30,655$26,140$22,215$18,823$16,878
16 years$33,228$28,126$23,700$19,891$16,636$14,787
17 years$30,948$25,903$21,566$17,872$14,751$12,996
18 years$28,925$23,935$19,687$16,106$13,116$11,451
19 years$27,116$22,183$18,023$14,554$11,690$10,114
20 years$25,490$20,613$16,540$13,181$10,442$8,950
21 years$24,021$19,201$15,214$11,963$9,344$7,934
22 years$22,687$17,923$14,022$10,877$8,376$7,044
23 years$21,471$16,763$12,947$9,906$7,519$6,262
24 years$20,358$15,706$11,974$9,035$6,758$5,574
25 years$19,336$14,739$11,090$8,251$6,081$4,966
26 years$18,394$13,852$10,285$7,544$5,478$4,429
27 years$17,523$13,037$9,551$6,905$4,939$3,953
28 years$16,716$12,284$8,879$6,327$4,456$3,530
29 years$15,966$11,589$8,262$5,802$4,024$3,155
30 years$15,267$10,945$7,696$5,325$3,636$2,821
31 years$14,614$10,346$7,175$4,890$3,287$2,524
32 years$14,004$9,790$6,694$4,494$2,973$2,259
33 years$13,431$9,271$6,251$4,133$2,691$2,023
34 years$12,894$8,787$5,840$3,803$2,436$1,812
35 years$12,388$8,334$5,460$3,500$2,207$1,624
36 years$11,912$7,910$5,108$3,224$1,999$1,455
37 years$11,462$7,513$4,781$2,970$1,812$1,305
38 years$11,037$7,140$4,477$2,738$1,643$1,170
39 years$10,635$6,789$4,194$2,524$1,490$1,049
40 years$10,254$6,460$3,931$2,328$1,351$941
41 years$9,892$6,149$3,686$2,148$1,226$844
42 years$9,549$5,856$3,458$1,983$1,112$758
43 years$9,222$5,580$3,245$1,830$1,010$680
44 years$8,911$5,319$3,046$1,690$916$610
45 years$8,615$5,072$2,860$1,561$832$548
46 years$8,332$4,838$2,686$1,442$755$492
47 years$8,063$4,617$2,524$1,332$686$442
48 years$7,805$4,408$2,372$1,231$623$396
49 years$7,558$4,209$2,229$1,137$566$356
50 years$7,323$4,021$2,096$1,051$514$320

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,500,000, adding $2,545 every year, while hoping to spend $29,479 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: 63/13/24 Blend
55$7,500,000$7,500,000$7,500,000$7,500,000
56$8,267,625$7,870,125$7,753,875$8,736,195
57$9,079,558$8,224,396$7,982,265$9,407,523
58$9,973,319$8,595,038$8,217,317$10,136,950
59$10,957,225$8,982,822$8,459,225$10,933,002
60$12,040,438$9,388,557$8,708,185$11,802,198
61$13,233,055$9,813,088$8,964,401$12,751,715
62$14,546,199$10,257,302$9,228,082$13,789,448
63$15,992,131$10,722,130$9,499,442$14,924,088
64$17,584,358$11,208,544$9,778,703$16,165,201
65$19,337,765$11,717,564$10,066,091$17,523,316
66$21,268,752$12,250,261$10,361,841$19,010,025
67$23,395,395$12,807,753$10,666,192$20,638,087
68$25,737,607$13,391,215$10,979,392$22,421,550
69$28,317,336$14,001,877$11,301,694$24,375,882
70$31,158,763$14,641,028$11,633,360$26,518,112
71$34,288,538$15,310,019$11,974,658$28,866,991
72$37,736,024$16,010,265$12,325,864$31,443,168
73$41,533,580$16,743,250$12,687,263$34,269,382
74$45,716,865$17,510,529$13,059,145$37,370,672
75$50,325,170$18,313,730$13,441,812$40,774,615
76$55,401,796$19,154,561$13,835,571$44,511,582
77$60,994,457$20,034,812$14,240,740$48,615,020
78$67,155,732$20,956,359$14,657,646$53,121,772
79$73,943,562$21,921,166$15,086,622$58,072,414
80$81,421,796$22,931,293$15,528,015$63,511,641
81$89,660,793$23,988,901$15,982,177$69,488,682
82$98,738,089$25,096,252$16,449,475$76,057,767
83$108,739,123$26,255,717$16,930,281$83,278,629
84$119,758,050$27,469,784$17,424,982$91,217,071
85$131,898,624$28,741,057$17,933,973$99,945,580
86$145,275,183$30,072,268$18,457,660$109,544,007
87$160,013,722$31,466,279$18,996,462$120,100,323
88$176,253,087$32,926,092$19,550,809$131,711,436
89$194,146,284$34,454,852$20,121,142$144,484,112
90$213,861,920$36,055,856$20,707,916$158,535,972
91$235,585,802$37,732,559$21,311,598$173,996,600
92$259,522,685$39,488,585$21,932,667$191,008,762
93$285,898,203$41,327,730$22,571,616$209,729,749
94$314,961,007$43,253,976$23,228,952$230,332,857
95$346,985,105$45,271,496$23,905,197$253,009,016
96$382,272,449$47,384,663$24,600,885$277,968,592
97$421,155,791$49,598,064$25,316,567$305,443,361
98$464,001,818$51,916,505$26,052,808$335,688,695
99$511,214,616$54,345,026$26,810,190$368,985,968
100$563,239,485$56,888,910$27,589,309$405,645,201