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%16.7%
1 years$627,601$622,011$616,556$611,233$606,035$589,472
2 years$310,694$304,907$299,299$293,862$288,588$272,022
3 years$205,072$199,260$193,666$188,280$183,092$167,042
4 years$152,271$146,477$140,940$135,645$130,583$115,171
5 years$120,599$114,840$109,375$104,189$99,267$84,537
6 years$99,491$93,775$88,391$83,320$78,547$64,512
7 years$84,420$78,753$73,453$68,502$63,879$50,540
8 years$73,122$67,505$62,294$57,465$52,994$40,344
9 years$64,339$58,776$53,654$48,947$44,629$32,655
10 years$57,317$51,808$46,777$42,193$38,026$26,714
11 years$51,575$46,121$41,182$36,721$32,704$22,036
12 years$46,794$41,396$36,548$32,209$28,340$18,296
13 years$42,751$37,410$32,653$28,436$24,713$15,272
14 years$39,289$34,005$29,339$25,242$21,663$12,802
15 years$36,291$31,064$26,489$22,511$19,074$10,770
16 years$33,671$28,501$24,016$20,157$16,858$9,086
17 years$31,361$26,248$21,854$18,110$14,947$7,685
18 years$29,310$24,254$19,950$16,321$13,290$6,512
19 years$27,477$22,479$18,263$14,748$11,846$5,528
20 years$25,830$20,888$16,761$13,357$10,581$4,699
21 years$24,341$19,457$15,417$12,122$9,469$3,999
22 years$22,990$18,162$14,209$11,022$8,488$3,407
23 years$21,758$16,987$13,119$10,038$7,619$2,905
24 years$20,630$15,915$12,133$9,155$6,848$2,479
25 years$19,594$14,936$11,238$8,361$6,162$2,117
26 years$18,639$14,037$10,422$7,645$5,551$1,808
27 years$17,757$13,211$9,678$6,997$5,004$1,545
28 years$16,939$12,448$8,997$6,411$4,516$1,321
29 years$16,179$11,744$8,373$5,879$4,077$1,130
30 years$15,470$11,091$7,799$5,396$3,684$967
31 years$14,809$10,484$7,271$4,955$3,331$827
32 years$14,190$9,920$6,784$4,554$3,013$708
33 years$13,610$9,395$6,334$4,188$2,727$606
34 years$13,066$8,904$5,918$3,853$2,469$519
35 years$12,553$8,445$5,533$3,547$2,236$444
36 years$12,071$8,016$5,176$3,267$2,026$380
37 years$11,615$7,613$4,845$3,010$1,836$326
38 years$11,184$7,235$4,537$2,774$1,665$279
39 years$10,777$6,880$4,250$2,558$1,510$239
40 years$10,390$6,546$3,984$2,359$1,369$205
41 years$10,024$6,231$3,736$2,177$1,242$175
42 years$9,676$5,934$3,504$2,009$1,127$150
43 years$9,345$5,654$3,288$1,855$1,023$129
44 years$9,030$5,389$3,087$1,712$929$110
45 years$8,730$5,139$2,898$1,581$843$94
46 years$8,443$4,903$2,722$1,461$765$81
47 years$8,170$4,679$2,557$1,350$695$69
48 years$7,909$4,466$2,403$1,247$631$59
49 years$7,659$4,265$2,259$1,153$573$51
50 years$7,420$4,074$2,124$1,065$521$44

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 $4,831 every year, while hoping to spend $26,676 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: 60/13/27 Blend
55$7,600,000$7,600,000$7,600,000$7,600,000
56$8,380,183$7,977,383$7,859,583$8,821,648
57$9,206,579$8,339,892$8,094,496$9,485,604
58$10,116,373$8,719,269$8,336,385$10,206,462
59$11,118,043$9,116,314$8,585,454$10,992,484
60$12,220,933$9,531,863$8,841,916$11,850,020
61$13,435,336$9,966,793$9,105,989$12,786,058
62$14,772,597$10,422,021$9,377,895$13,808,286
63$16,245,214$10,898,512$9,657,867$14,925,164
64$17,866,960$11,397,274$9,946,140$16,146,003
65$19,653,014$11,919,365$10,242,960$17,481,051
66$21,620,100$12,465,892$10,548,577$18,941,587
67$23,786,647$13,038,017$10,863,251$20,540,027
68$26,172,962$13,636,957$11,187,247$22,290,039
69$28,801,424$14,263,988$11,520,840$24,206,669
70$31,696,692$14,920,446$11,864,310$26,306,485
71$34,885,939$15,607,732$12,217,949$28,607,724
72$38,399,109$16,327,315$12,582,055$31,130,469
73$42,269,198$17,080,734$12,956,934$33,896,833
74$46,532,568$17,869,602$13,342,904$36,931,167
75$51,229,288$18,695,610$13,740,288$40,260,284
76$56,403,510$19,560,530$14,149,423$43,913,716
77$62,103,891$20,466,219$14,570,651$47,923,982
78$68,384,049$21,414,624$15,004,329$52,326,899
79$75,303,067$22,407,787$15,450,820$57,161,914
80$82,926,057$23,447,845$15,910,499$62,472,475
81$91,324,767$24,537,042$16,383,753$68,306,435
82$100,578,264$25,677,727$16,870,979$74,716,504
83$110,773,676$26,872,365$17,372,586$81,760,743
84$122,007,017$28,123,537$17,888,994$89,503,105
85$134,384,094$29,433,951$18,420,636$98,014,039
86$148,021,502$30,806,445$18,967,958$107,371,151
87$163,047,728$32,243,994$19,531,417$117,659,929
88$179,604,361$33,749,715$20,111,485$128,974,549
89$197,847,433$35,326,878$20,708,647$141,418,760
90$217,948,887$36,978,910$21,323,402$155,106,858
91$240,098,200$38,709,404$21,956,263$170,164,759
92$264,504,177$40,522,126$22,607,758$186,731,185
93$291,396,917$42,421,023$23,278,432$204,958,968
94$321,029,985$44,410,236$23,968,842$225,016,486
95$353,682,810$46,494,104$24,679,564$247,089,251
96$389,663,318$48,677,176$25,411,191$271,381,647
97$429,310,840$50,964,222$26,164,330$298,118,862
98$472,999,318$53,360,241$26,939,607$327,549,004
99$521,140,833$55,870,477$27,737,668$359,945,433
100$574,189,493$58,500,425$28,559,175$395,609,342