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%14.4%
1 years$627,601$622,011$616,556$611,233$606,035$595,016
2 years$310,694$304,907$299,299$293,862$288,588$277,526
3 years$205,072$199,260$193,666$188,280$183,092$172,332
4 years$152,271$146,477$140,940$135,645$130,583$120,207
5 years$120,599$114,840$109,375$104,189$99,267$89,305
6 years$99,491$93,775$88,391$83,320$78,547$69,010
7 years$84,420$78,753$73,453$68,502$63,879$54,771
8 years$73,122$67,505$62,294$57,465$52,994$44,311
9 years$64,339$58,776$53,654$48,947$44,629$36,366
10 years$57,317$51,808$46,777$42,193$38,026$30,176
11 years$51,575$46,121$41,182$36,721$32,704$25,258
12 years$46,794$41,396$36,548$32,209$28,340$21,289
13 years$42,751$37,410$32,653$28,436$24,713$18,045
14 years$39,289$34,005$29,339$25,242$21,663$15,366
15 years$36,291$31,064$26,489$22,511$19,074$13,135
16 years$33,671$28,501$24,016$20,157$16,858$11,265
17 years$31,361$26,248$21,854$18,110$14,947$9,686
18 years$29,310$24,254$19,950$16,321$13,290$8,348
19 years$27,477$22,479$18,263$14,748$11,846$7,209
20 years$25,830$20,888$16,761$13,357$10,581$6,236
21 years$24,341$19,457$15,417$12,122$9,469$5,401
22 years$22,990$18,162$14,209$11,022$8,488$4,684
23 years$21,758$16,987$13,119$10,038$7,619$4,067
24 years$20,630$15,915$12,133$9,155$6,848$3,534
25 years$19,594$14,936$11,238$8,361$6,162$3,073
26 years$18,639$14,037$10,422$7,645$5,551$2,674
27 years$17,757$13,211$9,678$6,997$5,004$2,328
28 years$16,939$12,448$8,997$6,411$4,516$2,028
29 years$16,179$11,744$8,373$5,879$4,077$1,768
30 years$15,470$11,091$7,799$5,396$3,684$1,541
31 years$14,809$10,484$7,271$4,955$3,331$1,344
32 years$14,190$9,920$6,784$4,554$3,013$1,173
33 years$13,610$9,395$6,334$4,188$2,727$1,023
34 years$13,066$8,904$5,918$3,853$2,469$893
35 years$12,553$8,445$5,533$3,547$2,236$780
36 years$12,071$8,016$5,176$3,267$2,026$681
37 years$11,615$7,613$4,845$3,010$1,836$594
38 years$11,184$7,235$4,537$2,774$1,665$519
39 years$10,777$6,880$4,250$2,558$1,510$453
40 years$10,390$6,546$3,984$2,359$1,369$396
41 years$10,024$6,231$3,736$2,177$1,242$346
42 years$9,676$5,934$3,504$2,009$1,127$302
43 years$9,345$5,654$3,288$1,855$1,023$264
44 years$9,030$5,389$3,087$1,712$929$231
45 years$8,730$5,139$2,898$1,581$843$202
46 years$8,443$4,903$2,722$1,461$765$176
47 years$8,170$4,679$2,557$1,350$695$154
48 years$7,909$4,466$2,403$1,247$631$135
49 years$7,659$4,265$2,259$1,153$573$118
50 years$7,420$4,074$2,124$1,065$521$103

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 $3,627 every year, while hoping to spend $43,306 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: 26/47/27 Blend
55$7,600,000$7,600,000$7,600,000$7,600,000
56$8,378,941$7,976,141$7,858,341$8,525,823
57$9,187,516$8,320,895$8,075,518$8,990,991
58$10,077,114$8,681,090$8,298,520$9,485,778
59$11,055,954$9,057,438$8,527,494$10,015,768
60$12,133,091$9,450,682$8,762,595$10,583,964
61$13,318,503$9,861,602$9,003,979$11,193,655
62$14,623,184$10,291,015$9,251,806$11,848,437
63$16,059,248$10,739,773$9,506,240$12,552,247
64$17,640,042$11,208,773$9,767,450$13,309,398
65$19,380,273$11,698,950$10,035,607$14,124,615
66$21,296,148$12,211,285$10,310,887$15,003,073
67$23,405,523$12,746,806$10,593,470$15,950,445
68$25,728,076$13,306,589$10,883,540$16,972,951
69$28,285,487$13,891,760$11,181,286$18,077,411
70$31,101,648$14,503,497$11,486,901$19,271,307
71$34,202,886$15,143,038$11,800,582$20,562,844
72$37,618,209$15,811,676$12,122,530$21,961,031
73$41,379,584$16,510,766$12,452,952$23,475,750
74$45,522,236$17,241,727$12,792,060$25,117,854
75$50,084,978$18,006,046$13,140,069$26,899,258
76$55,110,584$18,805,281$13,497,199$28,833,045
77$60,646,186$19,641,061$13,863,677$30,933,588
78$66,743,719$20,515,096$14,239,733$33,216,673
79$73,460,418$21,429,175$14,625,603$35,699,648
80$80,859,347$22,385,171$15,021,528$38,401,573
81$89,010,006$23,385,050$15,427,754$41,343,399
82$97,988,977$24,430,867$15,844,534$44,548,153
83$107,880,651$25,524,778$16,272,124$48,041,147
84$118,778,025$26,669,040$16,710,788$51,850,216
85$130,783,577$27,866,017$17,160,793$56,005,961
86$144,010,238$29,118,187$17,622,415$60,542,037
87$158,582,449$30,428,146$18,095,934$65,495,458
88$174,637,347$31,798,613$18,581,635$70,906,936
89$192,326,047$33,232,436$19,079,811$76,821,257
90$211,815,079$34,732,601$19,590,760$83,287,688
91$233,287,954$36,302,234$20,114,787$90,360,436
92$256,946,895$37,944,614$20,652,202$98,099,145
93$283,014,751$39,663,173$21,203,324$106,569,448
94$311,737,095$41,461,508$21,768,475$115,843,569
95$343,384,546$43,343,389$22,347,985$126,000,998
96$378,255,320$45,312,765$22,942,193$137,129,221
97$416,678,048$47,373,776$23,551,442$149,324,534
98$459,014,876$49,530,758$24,176,082$162,692,936
99$505,664,884$51,788,255$24,816,472$177,351,111
100$557,067,853$54,151,031$25,472,974$193,427,515