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%11.6%
1 years$619,343$613,826$608,444$603,190$598,061$594,042
2 years$306,605$300,895$295,361$289,995$284,791$280,738
3 years$202,373$196,638$191,118$185,803$180,683$176,722
4 years$150,267$144,550$139,085$133,860$128,865$125,025
5 years$119,012$113,329$107,936$102,818$97,961$94,254
6 years$98,182$92,542$87,228$82,224$77,513$73,944
7 years$83,309$77,716$72,487$67,601$63,039$59,610
8 years$72,160$66,617$61,475$56,709$52,297$49,007
9 years$63,492$58,002$52,948$48,303$44,041$40,890
10 years$56,562$51,126$46,161$41,638$37,526$34,512
11 years$50,896$45,515$40,640$36,237$32,273$29,394
12 years$46,178$40,851$36,067$31,785$27,967$25,221
13 years$42,189$36,918$32,223$28,062$24,388$21,771
14 years$38,772$33,557$28,953$24,910$21,378$18,888
15 years$35,814$30,655$26,140$22,215$18,823$16,456
16 years$33,228$28,126$23,700$19,891$16,636$14,388
17 years$30,948$25,903$21,566$17,872$14,751$12,619
18 years$28,925$23,935$19,687$16,106$13,116$11,096
19 years$27,116$22,183$18,023$14,554$11,690$9,779
20 years$25,490$20,613$16,540$13,181$10,442$8,635
21 years$24,021$19,201$15,214$11,963$9,344$7,638
22 years$22,687$17,923$14,022$10,877$8,376$6,766
23 years$21,471$16,763$12,947$9,906$7,519$6,002
24 years$20,358$15,706$11,974$9,035$6,758$5,330
25 years$19,336$14,739$11,090$8,251$6,081$4,737
26 years$18,394$13,852$10,285$7,544$5,478$4,215
27 years$17,523$13,037$9,551$6,905$4,939$3,753
28 years$16,716$12,284$8,879$6,327$4,456$3,344
29 years$15,966$11,589$8,262$5,802$4,024$2,981
30 years$15,267$10,945$7,696$5,325$3,636$2,659
31 years$14,614$10,346$7,175$4,890$3,287$2,374
32 years$14,004$9,790$6,694$4,494$2,973$2,119
33 years$13,431$9,271$6,251$4,133$2,691$1,893
34 years$12,894$8,787$5,840$3,803$2,436$1,691
35 years$12,388$8,334$5,460$3,500$2,207$1,512
36 years$11,912$7,910$5,108$3,224$1,999$1,351
37 years$11,462$7,513$4,781$2,970$1,812$1,209
38 years$11,037$7,140$4,477$2,738$1,643$1,081
39 years$10,635$6,789$4,194$2,524$1,490$967
40 years$10,254$6,460$3,931$2,328$1,351$865
41 years$9,892$6,149$3,686$2,148$1,226$774
42 years$9,549$5,856$3,458$1,983$1,112$693
43 years$9,222$5,580$3,245$1,830$1,010$620
44 years$8,911$5,319$3,046$1,690$916$555
45 years$8,615$5,072$2,860$1,561$832$497
46 years$8,332$4,838$2,686$1,442$755$445
47 years$8,063$4,617$2,524$1,332$686$399
48 years$7,805$4,408$2,372$1,231$623$357
49 years$7,558$4,209$2,229$1,137$566$320
50 years$7,323$4,021$2,096$1,051$514$286

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 $6,606 every year, while hoping to spend $55,282 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: 52/19/29 Blend
55$7,500,000$7,500,000$7,500,000$7,500,000
56$8,271,814$7,874,314$7,758,064$8,634,227
57$9,056,720$8,201,336$7,959,140$9,214,183
58$9,919,832$8,542,529$8,165,098$9,838,647
59$10,869,072$8,898,529$8,376,046$10,516,915
60$11,913,162$9,270,002$8,592,088$11,254,152
61$13,061,716$9,657,644$8,813,335$12,056,038
62$14,325,325$10,062,182$9,039,895$12,928,820
63$15,715,659$10,484,380$9,271,882$13,879,371
64$17,245,574$10,925,033$9,509,409$14,915,251
65$18,929,240$11,384,976$9,752,590$16,044,781
66$20,782,264$11,865,082$10,001,544$17,277,114
67$22,821,847$12,366,263$10,256,388$18,622,325
68$25,066,942$12,889,476$10,517,244$20,091,500
69$27,538,430$13,435,720$10,784,231$21,696,841
70$30,259,322$14,006,042$11,057,475$23,451,781
71$33,254,971$14,601,537$11,337,099$25,371,103
72$36,553,317$15,223,351$11,623,230$27,471,085
73$40,185,143$15,872,684$11,915,997$29,769,644
74$44,184,373$16,550,790$12,215,528$32,286,510
75$48,588,385$17,258,985$12,521,954$35,043,402
76$53,438,368$17,998,643$12,835,407$38,064,237
77$58,779,709$18,771,204$13,156,021$41,375,352
78$64,662,422$19,578,176$13,483,930$45,005,747
79$71,141,618$20,421,135$13,819,271$48,987,358
80$78,278,026$21,301,734$14,162,179$53,355,357
81$86,138,567$22,221,701$14,512,794$58,148,477
82$94,796,983$23,182,846$14,871,255$63,409,378
83$104,334,534$24,187,064$15,237,700$69,185,046
84$114,840,765$25,236,339$15,612,272$75,527,232
85$126,414,351$26,332,748$15,995,111$82,492,936
86$139,164,028$27,478,465$16,386,360$90,144,945
87$153,209,617$28,675,768$16,786,162$98,552,418
88$168,683,158$29,927,041$17,194,658$107,791,539
89$185,730,154$31,234,781$17,611,994$117,946,226
90$204,510,946$32,601,601$18,038,311$129,108,926
91$225,202,222$34,030,239$18,473,755$141,381,477
92$247,998,690$35,523,562$18,918,467$154,876,069
93$273,114,911$37,084,572$19,372,590$169,716,297
94$300,787,329$38,716,412$19,836,269$186,038,320
95$331,276,496$40,422,376$20,309,643$203,992,146
96$364,869,537$42,205,910$20,792,854$223,743,038
97$401,882,857$44,070,628$21,286,043$245,473,072
98$442,665,130$46,020,310$21,789,347$269,382,846
99$487,600,587$48,058,919$22,302,904$295,693,372
100$537,112,645$50,190,604$22,826,848$324,648,153