Can I retire at age 56 with 7,900,000?

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 $7,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$652,375$646,564$640,894$635,360$629,957$623,638
2 years$322,958$316,943$311,114$305,462$299,980$293,615
3 years$213,166$207,126$201,311$195,712$190,319$184,106
4 years$158,282$152,259$146,503$141,000$135,737$129,724
5 years$125,359$119,373$113,692$108,301$103,185$97,390
6 years$103,418$97,477$91,880$86,609$81,647$76,076
7 years$87,752$81,861$76,353$71,206$66,401$61,057
8 years$76,008$70,170$64,753$59,733$55,086$49,969
9 years$66,878$61,096$55,772$50,879$46,390$41,498
10 years$59,579$53,853$48,623$43,859$39,527$34,856
11 years$53,611$47,942$42,807$38,170$33,994$29,542
12 years$48,641$43,030$37,990$33,480$29,459$25,220
13 years$44,439$38,887$33,942$29,558$25,689$21,658
14 years$40,840$35,347$30,497$26,238$22,519$18,692
15 years$37,724$32,290$27,535$23,400$19,827$16,198
16 years$35,000$29,626$24,964$20,952$17,523$14,085
17 years$32,599$27,284$22,716$18,825$15,537$12,284
18 years$30,467$25,212$20,737$16,965$13,815$10,741
19 years$28,562$23,366$18,984$15,330$12,314$9,412
20 years$26,850$21,713$17,422$13,884$10,999$8,263
21 years$25,302$20,225$16,025$12,601$9,843$7,265
22 years$23,897$18,879$14,770$11,457$8,823$6,398
23 years$22,617$17,657$13,637$10,434$7,920$5,640
24 years$21,444$16,544$12,612$9,516$7,118$4,978
25 years$20,367$15,525$11,681$8,691$6,405$4,398
26 years$19,375$14,591$10,834$7,947$5,770$3,888
27 years$18,458$13,732$10,060$7,274$5,202$3,440
28 years$17,607$12,940$9,352$6,664$4,694$3,046
29 years$16,817$12,207$8,703$6,111$4,238$2,698
30 years$16,081$11,528$8,107$5,609$3,830$2,391
31 years$15,394$10,898$7,558$5,151$3,462$2,120
32 years$14,751$10,312$7,051$4,734$3,132$1,880
33 years$14,148$9,765$6,584$4,353$2,834$1,669
34 years$13,582$9,255$6,152$4,005$2,566$1,481
35 years$13,049$8,779$5,751$3,687$2,324$1,315
36 years$12,547$8,332$5,380$3,396$2,106$1,168
37 years$12,073$7,914$5,036$3,129$1,909$1,037
38 years$11,626$7,521$4,716$2,884$1,730$921
39 years$11,202$7,152$4,418$2,659$1,569$819
40 years$10,801$6,804$4,141$2,453$1,423$727
41 years$10,420$6,477$3,883$2,263$1,291$646
42 years$10,058$6,168$3,642$2,088$1,172$575
43 years$9,714$5,877$3,418$1,928$1,063$511
44 years$9,386$5,602$3,208$1,780$965$454
45 years$9,074$5,342$3,013$1,644$876$404
46 years$8,777$5,096$2,829$1,518$796$359
47 years$8,493$4,863$2,658$1,403$722$319
48 years$8,221$4,643$2,498$1,296$656$284
49 years$7,962$4,434$2,348$1,198$596$252
50 years$7,713$4,235$2,207$1,107$541$225

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,900,000, adding $4,211 every year, while hoping to spend $44,819 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: 43/27/30 Blend
55$7,900,000$7,900,000$7,900,000$7,900,000
56$8,710,144$8,291,444$8,168,994$9,008,279
57$9,550,891$8,650,037$8,394,968$9,581,797
58$10,475,893$9,024,700$8,627,010$10,198,279
59$11,493,695$9,416,172$8,865,276$10,865,430
60$12,613,715$9,825,227$9,109,926$11,587,981
61$13,846,329$10,252,678$9,361,123$12,371,128
62$15,202,968$10,699,373$9,619,035$13,220,582
63$16,696,231$11,166,202$9,883,832$14,142,618
64$18,339,997$11,654,096$10,155,691$15,144,130
65$20,149,560$12,164,031$10,434,790$16,232,699
66$22,141,774$12,697,027$10,721,315$17,416,657
67$24,335,209$13,254,155$11,015,452$18,705,163
68$26,750,325$13,836,533$11,317,394$20,108,292
69$29,409,670$14,445,335$11,627,339$21,637,120
70$32,338,088$15,081,789$11,945,487$23,303,832
71$35,562,958$15,747,181$12,272,046$25,121,828
72$39,114,445$16,442,858$12,607,225$27,105,850
73$43,025,792$17,170,232$12,951,240$29,272,117
74$47,333,629$17,930,780$13,304,313$31,638,475
75$52,078,320$18,726,049$13,666,669$34,224,558
76$57,304,345$19,557,662$14,038,538$37,051,974
77$63,060,717$20,427,315$14,420,158$40,144,503
78$69,401,445$21,336,789$14,811,768$43,528,317
79$76,386,046$22,287,946$15,213,616$47,232,223
80$84,080,105$23,282,737$15,625,954$51,287,929
81$92,555,892$24,323,208$16,049,040$55,730,342
82$101,893,048$25,411,499$16,483,138$60,597,887
83$112,179,331$26,549,855$16,928,516$65,932,871
84$123,511,451$27,740,627$17,385,449$71,781,869
85$135,995,977$28,986,275$17,854,220$78,196,167
86$149,750,345$30,289,381$18,335,114$85,232,232
87$164,903,966$31,652,646$18,828,426$92,952,244
88$181,599,448$33,078,903$19,334,456$101,424,674
89$199,993,940$34,571,117$19,853,508$110,724,924
90$220,260,617$36,132,398$20,385,896$120,936,032
91$242,590,315$37,766,001$20,931,939$132,149,449
92$267,193,331$39,475,338$21,491,962$144,465,895
93$294,301,407$41,263,986$22,066,299$157,996,298
94$324,169,918$43,135,689$22,655,288$172,862,837
95$357,080,286$45,094,373$23,259,276$189,200,086
96$393,342,629$47,144,152$23,878,616$207,156,273
97$433,298,697$49,289,335$24,513,669$226,894,672
98$477,325,089$51,534,438$25,164,803$248,595,131
99$525,836,816$53,884,193$25,832,392$272,455,765
100$579,291,214$56,343,561$26,516,819$298,694,811