Can I retire at age 56 with 7,600,000?

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 $7,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$627,601$622,011$616,556$611,233$606,035$597,225
2 years$310,694$304,907$299,299$293,862$288,588$279,731
3 years$205,072$199,260$193,666$188,280$183,092$174,463
4 years$152,271$146,477$140,940$135,645$130,583$122,248
5 years$120,599$114,840$109,375$104,189$99,267$91,251
6 years$99,491$93,775$88,391$83,320$78,547$70,858
7 years$84,420$78,753$73,453$68,502$63,879$56,522
8 years$73,122$67,505$62,294$57,465$52,994$45,966
9 years$64,339$58,776$53,654$48,947$44,629$37,927
10 years$57,317$51,808$46,777$42,193$38,026$31,645
11 years$51,575$46,121$41,182$36,721$32,704$26,638
12 years$46,794$41,396$36,548$32,209$28,340$22,582
13 years$42,751$37,410$32,653$28,436$24,713$19,254
14 years$39,289$34,005$29,339$25,242$21,663$16,496
15 years$36,291$31,064$26,489$22,511$19,074$14,188
16 years$33,671$28,501$24,016$20,157$16,858$12,244
17 years$31,361$26,248$21,854$18,110$14,947$10,597
18 years$29,310$24,254$19,950$16,321$13,290$9,193
19 years$27,477$22,479$18,263$14,748$11,846$7,991
20 years$25,830$20,888$16,761$13,357$10,581$6,958
21 years$24,341$19,457$15,417$12,122$9,469$6,068
22 years$22,990$18,162$14,209$11,022$8,488$5,299
23 years$21,758$16,987$13,119$10,038$7,619$4,633
24 years$20,630$15,915$12,133$9,155$6,848$4,054
25 years$19,594$14,936$11,238$8,361$6,162$3,551
26 years$18,639$14,037$10,422$7,645$5,551$3,112
27 years$17,757$13,211$9,678$6,997$5,004$2,729
28 years$16,939$12,448$8,997$6,411$4,516$2,395
29 years$16,179$11,744$8,373$5,879$4,077$2,103
30 years$15,470$11,091$7,799$5,396$3,684$1,847
31 years$14,809$10,484$7,271$4,955$3,331$1,623
32 years$14,190$9,920$6,784$4,554$3,013$1,426
33 years$13,610$9,395$6,334$4,188$2,727$1,254
34 years$13,066$8,904$5,918$3,853$2,469$1,103
35 years$12,553$8,445$5,533$3,547$2,236$970
36 years$12,071$8,016$5,176$3,267$2,026$853
37 years$11,615$7,613$4,845$3,010$1,836$751
38 years$11,184$7,235$4,537$2,774$1,665$661
39 years$10,777$6,880$4,250$2,558$1,510$582
40 years$10,390$6,546$3,984$2,359$1,369$512
41 years$10,024$6,231$3,736$2,177$1,242$451
42 years$9,676$5,934$3,504$2,009$1,127$397
43 years$9,345$5,654$3,288$1,855$1,023$350
44 years$9,030$5,389$3,087$1,712$929$308
45 years$8,730$5,139$2,898$1,581$843$271
46 years$8,443$4,903$2,722$1,461$765$239
47 years$8,170$4,679$2,557$1,350$695$210
48 years$7,909$4,466$2,403$1,247$631$185
49 years$7,659$4,265$2,259$1,153$573$163
50 years$7,420$4,074$2,124$1,065$521$144

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,600,000, adding $6,598 every year, while hoping to spend $24,351 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: 47/43/10 Blend
55$7,600,000$7,600,000$7,600,000$7,600,000
56$8,382,006$7,979,206$7,861,406$8,752,540
57$9,211,061$8,344,278$8,098,854$9,373,522
58$10,123,864$8,726,422$8,343,440$10,044,010
59$11,128,931$9,126,449$8,595,378$10,771,113
60$12,235,646$9,545,210$8,854,887$11,560,098
61$13,454,351$9,983,594$9,122,195$12,416,747
62$14,796,439$10,442,534$9,397,533$13,347,406
63$16,274,468$10,923,010$9,681,142$14,359,044
64$17,902,272$11,426,046$9,973,269$15,459,316
65$19,695,098$11,952,717$10,274,168$16,656,629
66$21,669,747$12,504,149$10,584,101$17,960,220
67$23,844,731$13,081,522$10,903,338$19,380,238
68$26,240,450$13,686,073$11,232,157$20,927,836
69$28,879,385$14,319,100$11,570,843$22,615,271
70$31,786,307$14,981,960$11,919,691$24,456,018
71$34,988,513$15,676,079$12,279,004$26,464,889
72$38,516,085$16,402,951$12,649,094$28,658,169
73$42,402,169$17,164,139$13,030,282$31,053,767
74$46,683,294$17,961,285$13,422,900$33,671,375
75$51,399,710$18,796,109$13,827,287$36,532,653
76$56,595,775$19,670,412$14,243,796$39,661,424
77$62,320,367$20,586,085$14,672,786$43,083,895
78$68,627,350$21,545,109$15,114,630$46,828,895
79$75,576,080$22,549,559$15,569,710$50,928,143
80$83,231,965$23,601,613$16,038,420$55,416,540
81$91,667,085$24,703,552$16,521,167$60,332,490
82$100,960,870$25,857,768$17,018,368$65,718,255
83$111,200,848$27,066,768$17,530,453$71,620,346
84$122,483,476$28,333,181$18,057,865$78,089,951
85$134,915,047$29,659,763$18,601,060$85,183,416
86$148,612,693$31,049,403$19,160,506$92,962,759
87$163,705,493$32,505,129$19,736,688$101,496,252
88$180,335,689$34,030,115$20,330,103$110,859,050
89$198,660,030$35,627,692$20,941,262$121,133,896
90$218,851,252$37,301,348$21,570,694$132,411,885
91$241,099,708$39,054,742$22,218,940$144,793,314
92$265,615,164$40,891,710$22,886,560$158,388,619
93$292,628,779$42,816,273$23,574,129$173,319,398
94$322,395,291$44,832,646$24,282,238$189,719,554
95$355,195,415$46,945,251$25,011,498$207,736,539
96$391,338,501$49,158,721$25,762,536$227,532,730
97$431,165,445$51,477,916$26,535,998$249,286,952
98$475,051,916$53,907,929$27,332,550$273,196,144
99$523,411,896$56,454,102$28,152,875$299,477,206
100$576,701,591$59,122,035$28,997,678$328,369,023