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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.8%
1 years$627,601$622,011$616,556$611,233$606,035$596,486
2 years$310,694$304,907$299,299$293,862$288,588$278,992
3 years$205,072$199,260$193,666$188,280$183,092$173,748
4 years$152,271$146,477$140,940$135,645$130,583$121,563
5 years$120,599$114,840$109,375$104,189$99,267$90,597
6 years$99,491$93,775$88,391$83,320$78,547$70,237
7 years$84,420$78,753$73,453$68,502$63,879$55,932
8 years$73,122$67,505$62,294$57,465$52,994$45,408
9 years$64,339$58,776$53,654$48,947$44,629$37,400
10 years$57,317$51,808$46,777$42,193$38,026$31,148
11 years$51,575$46,121$41,182$36,721$32,704$26,170
12 years$46,794$41,396$36,548$32,209$28,340$22,143
13 years$42,751$37,410$32,653$28,436$24,713$18,843
14 years$39,289$34,005$29,339$25,242$21,663$16,111
15 years$36,291$31,064$26,489$22,511$19,074$13,829
16 years$33,671$28,501$24,016$20,157$16,858$11,909
17 years$31,361$26,248$21,854$18,110$14,947$10,285
18 years$29,310$24,254$19,950$16,321$13,290$8,903
19 years$27,477$22,479$18,263$14,748$11,846$7,722
20 years$25,830$20,888$16,761$13,357$10,581$6,709
21 years$24,341$19,457$15,417$12,122$9,469$5,838
22 years$22,990$18,162$14,209$11,022$8,488$5,086
23 years$21,758$16,987$13,119$10,038$7,619$4,436
24 years$20,630$15,915$12,133$9,155$6,848$3,873
25 years$19,594$14,936$11,238$8,361$6,162$3,384
26 years$18,639$14,037$10,422$7,645$5,551$2,959
27 years$17,757$13,211$9,678$6,997$5,004$2,589
28 years$16,939$12,448$8,997$6,411$4,516$2,266
29 years$16,179$11,744$8,373$5,879$4,077$1,985
30 years$15,470$11,091$7,799$5,396$3,684$1,739
31 years$14,809$10,484$7,271$4,955$3,331$1,524
32 years$14,190$9,920$6,784$4,554$3,013$1,336
33 years$13,610$9,395$6,334$4,188$2,727$1,172
34 years$13,066$8,904$5,918$3,853$2,469$1,028
35 years$12,553$8,445$5,533$3,547$2,236$902
36 years$12,071$8,016$5,176$3,267$2,026$792
37 years$11,615$7,613$4,845$3,010$1,836$695
38 years$11,184$7,235$4,537$2,774$1,665$610
39 years$10,777$6,880$4,250$2,558$1,510$535
40 years$10,390$6,546$3,984$2,359$1,369$470
41 years$10,024$6,231$3,736$2,177$1,242$413
42 years$9,676$5,934$3,504$2,009$1,127$363
43 years$9,345$5,654$3,288$1,855$1,023$318
44 years$9,030$5,389$3,087$1,712$929$280
45 years$8,730$5,139$2,898$1,581$843$246
46 years$8,443$4,903$2,722$1,461$765$216
47 years$8,170$4,679$2,557$1,350$695$190
48 years$7,909$4,466$2,403$1,247$631$167
49 years$7,659$4,265$2,259$1,153$573$146
50 years$7,420$4,074$2,124$1,065$521$129

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 $2,246 every year, while hoping to spend $53,138 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: 28/44/28 Blend
55$7,600,000$7,600,000$7,600,000$7,600,000
56$8,377,517$7,974,717$7,856,917$8,539,274
57$9,175,485$8,308,939$8,063,585$9,003,066
58$10,053,065$8,657,758$8,275,396$9,496,253
59$11,018,321$9,021,832$8,492,465$10,025,059
60$12,080,139$9,401,850$8,714,911$10,592,579
61$13,248,307$9,798,535$8,942,855$11,202,201
62$14,533,612$10,212,641$9,176,418$11,857,638
63$15,947,939$10,644,958$9,415,726$12,562,958
64$17,504,381$11,096,314$9,660,906$13,322,619
65$19,217,368$11,567,574$9,912,087$14,141,512
66$21,102,797$12,059,643$10,169,399$15,024,996
67$23,178,186$12,573,468$10,432,977$15,978,953
68$25,462,836$13,110,043$10,702,957$17,009,837
69$27,978,015$13,670,405$10,979,476$18,124,730
70$30,747,158$14,255,640$11,262,674$19,331,403
71$33,796,088$14,866,887$11,552,694$20,638,393
72$37,153,260$15,505,336$11,849,680$22,055,070
73$40,850,028$16,172,232$12,153,779$23,591,726
74$44,920,941$16,868,882$12,465,141$25,259,668
75$49,404,069$17,596,649$12,783,916$27,071,318
76$54,341,365$18,356,965$13,110,257$29,040,323
77$59,779,053$19,151,326$13,444,320$31,181,683
78$65,768,075$19,981,299$13,786,263$33,511,887
79$72,364,561$20,848,525$14,136,245$36,049,056
80$79,630,364$21,754,721$14,494,427$38,813,117
81$87,633,645$22,701,686$14,860,975$41,825,978
82$96,449,512$23,691,304$15,236,052$45,111,733
83$106,160,730$24,725,546$15,619,828$48,696,878
84$116,858,504$25,806,477$16,012,471$52,610,558
85$128,643,336$26,936,258$16,414,154$56,884,832
86$141,625,976$28,117,155$16,825,048$61,554,967
87$155,928,468$29,351,538$17,245,330$66,659,767
88$171,685,299$30,641,890$17,675,175$72,241,927
89$189,044,668$31,990,812$18,114,762$78,348,427
90$208,169,888$33,401,025$18,564,270$85,030,968
91$229,240,924$34,875,383$19,023,881$92,346,449
92$252,456,094$36,416,873$19,493,777$100,357,494
93$278,033,938$38,028,622$19,974,141$109,133,034
94$306,215,283$39,713,907$20,465,157$118,748,944
95$337,265,514$41,476,161$20,967,013$129,288,750
96$371,477,082$43,318,978$21,479,892$140,844,403
97$409,172,259$45,246,123$22,003,984$153,517,137
98$450,706,187$47,261,541$22,539,475$167,418,409
99$496,470,224$49,369,362$23,086,553$182,670,937
100$546,895,641$51,573,915$23,645,406$199,409,848