Can I retire at age 56 with 7,700,000?

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 $7,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$635,859$630,195$624,669$619,275$614,009$596,987
2 years$314,782$308,919$303,237$297,729$292,385$275,363
3 years$207,770$201,882$196,215$190,758$185,501$169,012
4 years$154,274$148,405$142,794$137,430$132,301$116,471
5 years$122,186$116,351$110,814$105,559$100,573$85,446
6 years$100,800$95,009$89,554$84,417$79,580$65,170
7 years$85,531$79,789$74,420$69,404$64,720$51,027
8 years$74,084$68,394$63,114$58,221$53,691$40,708
9 years$65,185$59,549$54,360$49,591$45,216$32,930
10 years$58,071$52,490$47,392$42,748$38,526$26,922
11 years$52,254$46,728$41,723$37,204$33,134$22,193
12 years$47,409$41,941$37,029$32,633$28,713$18,415
13 years$43,314$37,902$33,083$28,810$25,038$15,360
14 years$39,806$34,452$29,725$25,574$21,948$12,868
15 years$36,769$31,473$26,838$22,808$19,325$10,817
16 years$34,114$28,876$24,332$20,422$17,080$9,120
17 years$31,774$26,593$22,141$18,349$15,144$7,707
18 years$29,696$24,573$20,212$16,536$13,465$6,527
19 years$27,839$22,774$18,503$14,942$12,002$5,536
20 years$26,170$21,163$16,981$13,533$10,720$4,702
21 years$24,662$19,713$15,620$12,282$9,594$3,999
22 years$23,292$18,401$14,396$11,167$8,599$3,404
23 years$22,044$17,210$13,292$10,170$7,719$2,900
24 years$20,901$16,125$12,293$9,275$6,938$2,473
25 years$19,852$15,132$11,386$8,471$6,243$2,110
26 years$18,885$14,222$10,560$7,745$5,624$1,801
27 years$17,990$13,384$9,806$7,090$5,070$1,538
28 years$17,162$12,612$9,116$6,496$4,575$1,314
29 years$16,391$11,898$8,483$5,957$4,131$1,123
30 years$15,674$11,236$7,901$5,467$3,733$960
31 years$15,004$10,622$7,366$5,021$3,375$821
32 years$14,377$10,051$6,873$4,614$3,053$702
33 years$13,790$9,518$6,417$4,243$2,763$600
34 years$13,238$9,021$5,996$3,904$2,501$513
35 years$12,719$8,556$5,606$3,594$2,266$439
36 years$12,229$8,121$5,244$3,310$2,053$376
37 years$11,768$7,713$4,908$3,050$1,860$322
38 years$11,331$7,330$4,596$2,811$1,687$275
39 years$10,918$6,970$4,306$2,592$1,529$236
40 years$10,527$6,632$4,036$2,391$1,387$202
41 years$10,156$6,313$3,785$2,206$1,259$173
42 years$9,803$6,012$3,550$2,035$1,142$148
43 years$9,468$5,728$3,331$1,879$1,036$126
44 years$9,149$5,460$3,127$1,735$941$108
45 years$8,845$5,207$2,936$1,602$854$93
46 years$8,554$4,967$2,758$1,480$775$79
47 years$8,278$4,740$2,591$1,367$704$68
48 years$8,013$4,525$2,435$1,263$639$58
49 years$7,760$4,321$2,289$1,168$581$50
50 years$7,518$4,128$2,152$1,079$528$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,700,000, adding $4,841 every year, while hoping to spend $21,661 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: 61/20/19 Blend
55$7,700,000$7,700,000$7,700,000$7,700,000
56$8,490,393$8,082,293$7,962,943$8,966,329
57$9,333,366$8,455,279$8,206,655$9,661,299
58$10,261,597$8,845,814$8,457,805$10,416,583
59$11,283,758$9,254,737$8,716,619$11,240,373
60$12,409,407$9,682,925$8,983,332$12,139,324
61$13,649,075$10,131,297$9,258,182$13,120,755
62$15,014,367$10,600,818$9,541,418$14,192,720
63$16,518,072$11,092,497$9,833,295$15,364,075
64$18,174,280$11,607,394$10,134,075$16,644,568
65$19,998,519$12,146,619$10,444,029$18,044,922
66$22,007,901$12,711,335$10,763,436$19,576,939
67$24,221,279$13,302,763$11,092,584$21,253,607
68$26,659,432$13,922,181$11,431,768$23,089,217
69$29,345,255$14,570,930$11,781,294$25,099,503
70$32,303,980$15,250,413$12,141,475$27,301,782
71$35,563,407$15,962,105$12,512,636$29,715,116
72$39,154,176$16,707,549$12,895,110$32,360,489
73$43,110,046$17,488,364$13,289,241$35,261,003
74$47,468,224$18,306,246$13,695,384$38,442,094
75$52,269,705$19,162,975$14,113,901$41,931,766
76$57,559,668$20,060,414$14,545,171$45,760,854
77$63,387,900$21,000,520$14,989,579$49,963,311
78$69,809,260$21,985,340$15,447,525$54,576,524
79$76,884,208$23,017,024$15,919,420$59,641,665
80$84,679,363$24,097,825$16,405,686$65,204,074
81$93,268,143$25,230,103$16,906,762$71,313,686
82$102,731,450$26,416,335$17,423,095$78,025,491
83$113,158,438$27,659,115$17,955,148$85,400,056
84$124,647,352$28,961,166$18,503,400$93,504,090
85$137,306,459$30,325,340$19,068,341$102,411,064
86$151,255,065$31,754,628$19,650,477$112,201,907
87$166,624,644$33,252,167$20,250,330$122,965,759
88$183,560,079$34,821,245$20,868,437$134,800,809
89$202,221,029$36,465,308$21,505,353$147,815,214
90$222,783,438$38,187,972$22,161,646$162,128,119
91$245,441,193$39,993,027$22,837,905$177,870,767
92$270,407,954$41,884,445$23,534,735$195,187,739
93$297,919,176$43,866,393$24,252,758$214,238,308
94$328,234,325$45,943,239$24,992,619$235,197,936
95$361,639,332$48,119,564$25,754,977$258,259,923
96$398,449,291$50,400,169$26,540,516$283,637,222
97$439,011,431$52,790,091$27,349,936$311,564,442
98$483,708,401$55,294,608$28,183,962$342,300,057
99$532,961,871$57,919,258$29,043,339$376,128,831
100$587,236,525$60,669,845$29,928,834$413,364,501