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%17.7%
1 years$619,343$613,826$608,444$603,190$598,061$579,380
2 years$306,605$300,895$295,361$289,995$284,791$266,137
3 years$202,373$196,638$191,118$185,803$180,683$162,641
4 years$150,267$144,550$139,085$133,860$128,865$111,572
5 years$119,012$113,329$107,936$102,818$97,961$81,465
6 years$98,182$92,542$87,228$82,224$77,513$61,828
7 years$83,309$77,716$72,487$67,601$63,039$48,163
8 years$72,160$66,617$61,475$56,709$52,297$38,221
9 years$63,492$58,002$52,948$48,303$44,041$30,750
10 years$56,562$51,126$46,161$41,638$37,526$24,998
11 years$50,896$45,515$40,640$36,237$32,273$20,488
12 years$46,178$40,851$36,067$31,785$27,967$16,899
13 years$42,189$36,918$32,223$28,062$24,388$14,011
14 years$38,772$33,557$28,953$24,910$21,378$11,664
15 years$35,814$30,655$26,140$22,215$18,823$9,743
16 years$33,228$28,126$23,700$19,891$16,636$8,162
17 years$30,948$25,903$21,566$17,872$14,751$6,852
18 years$28,925$23,935$19,687$16,106$13,116$5,764
19 years$27,116$22,183$18,023$14,554$11,690$4,856
20 years$25,490$20,613$16,540$13,181$10,442$4,097
21 years$24,021$19,201$15,214$11,963$9,344$3,460
22 years$22,687$17,923$14,022$10,877$8,376$2,925
23 years$21,471$16,763$12,947$9,906$7,519$2,474
24 years$20,358$15,706$11,974$9,035$6,758$2,095
25 years$19,336$14,739$11,090$8,251$6,081$1,774
26 years$18,394$13,852$10,285$7,544$5,478$1,503
27 years$17,523$13,037$9,551$6,905$4,939$1,274
28 years$16,716$12,284$8,879$6,327$4,456$1,081
29 years$15,966$11,589$8,262$5,802$4,024$917
30 years$15,267$10,945$7,696$5,325$3,636$778
31 years$14,614$10,346$7,175$4,890$3,287$660
32 years$14,004$9,790$6,694$4,494$2,973$560
33 years$13,431$9,271$6,251$4,133$2,691$476
34 years$12,894$8,787$5,840$3,803$2,436$404
35 years$12,388$8,334$5,460$3,500$2,207$343
36 years$11,912$7,910$5,108$3,224$1,999$291
37 years$11,462$7,513$4,781$2,970$1,812$247
38 years$11,037$7,140$4,477$2,738$1,643$210
39 years$10,635$6,789$4,194$2,524$1,490$178
40 years$10,254$6,460$3,931$2,328$1,351$152
41 years$9,892$6,149$3,686$2,148$1,226$129
42 years$9,549$5,856$3,458$1,983$1,112$109
43 years$9,222$5,580$3,245$1,830$1,010$93
44 years$8,911$5,319$3,046$1,690$916$79
45 years$8,615$5,072$2,860$1,561$832$67
46 years$8,332$4,838$2,686$1,442$755$57
47 years$8,063$4,617$2,524$1,332$686$48
48 years$7,805$4,408$2,372$1,231$623$41
49 years$7,558$4,209$2,229$1,137$566$35
50 years$7,323$4,021$2,096$1,051$514$30

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 $6,599 every year, while hoping to spend $50,325 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: 43/34/23 Blend
55$7,500,000$7,500,000$7,500,000$7,500,000
56$8,271,807$7,874,307$7,758,057$8,571,793
57$9,061,986$8,206,602$7,964,406$9,117,912
58$9,931,076$8,553,494$8,175,982$9,703,869
59$10,887,074$8,915,643$8,392,905$10,337,725
60$11,938,789$9,293,743$8,615,301$11,023,931
61$13,095,928$9,688,519$8,843,296$11,767,375
62$14,369,185$10,100,729$9,077,019$12,573,427
63$15,770,346$10,531,168$9,316,603$13,447,986
64$17,312,393$10,980,667$9,562,181$14,397,532
65$19,009,633$11,450,096$9,813,890$15,429,188
66$20,877,829$11,940,365$10,071,869$16,550,782
67$22,934,353$12,452,427$10,336,262$17,770,918
68$25,198,341$12,987,281$10,607,211$19,099,055
69$27,690,884$13,545,970$10,884,865$20,545,595
70$30,435,219$14,129,587$11,169,373$22,121,975
71$33,456,953$14,739,278$11,460,887$23,840,772
72$36,784,299$15,376,239$11,759,564$25,715,822
73$40,448,348$16,041,726$12,065,561$27,762,341
74$44,483,361$16,737,052$12,379,038$29,997,071
75$48,927,087$17,463,590$12,700,159$32,438,429
76$53,821,125$18,222,782$13,029,089$35,106,681
77$59,211,315$19,016,133$13,365,999$38,024,125
78$65,148,167$19,845,222$13,711,058$41,215,301
79$71,687,344$20,711,702$14,064,442$44,707,216
80$78,890,180$21,617,302$14,426,328$48,529,593
81$86,824,262$22,563,834$14,796,894$52,715,148
82$95,564,071$23,553,196$15,176,324$57,299,894
83$105,191,678$24,587,374$15,564,803$62,323,475
84$115,797,523$25,668,449$15,962,517$67,829,533
85$127,481,267$26,798,600$16,369,659$73,866,117
86$140,352,734$27,980,109$16,786,420$80,486,128
87$154,532,944$29,215,366$17,212,996$87,747,811
88$170,155,259$30,506,873$17,649,586$95,715,302
89$187,366,639$31,857,253$18,096,391$104,459,222
90$206,329,029$33,269,252$18,553,613$114,057,338
91$227,220,889$34,745,744$19,021,458$124,595,290
92$250,238,877$36,289,743$19,500,134$136,167,390
93$275,599,706$37,904,404$19,989,853$148,877,507
94$303,542,189$39,593,032$20,490,825$162,840,033
95$334,329,490$41,359,089$21,003,266$178,180,958
96$368,251,616$43,206,202$21,527,393$195,039,049
97$405,628,144$45,138,170$22,063,424$213,567,149
98$446,811,247$47,158,972$22,611,581$233,933,611
99$492,189,010$49,272,778$23,172,085$256,323,873
100$542,189,101$51,483,956$23,745,161$280,942,201