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

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 $7,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$652,375$646,564$640,894$635,360$629,957$623,378
2 years$322,958$316,943$311,114$305,462$299,980$293,354
3 years$213,166$207,126$201,311$195,712$190,319$183,854
4 years$158,282$152,259$146,503$141,000$135,737$129,481
5 years$125,359$119,373$113,692$108,301$103,185$97,156
6 years$103,418$97,477$91,880$86,609$81,647$75,853
7 years$87,752$81,861$76,353$71,206$66,401$60,844
8 years$76,008$70,170$64,753$59,733$55,086$49,766
9 years$66,878$61,096$55,772$50,879$46,390$41,305
10 years$59,579$53,853$48,623$43,859$39,527$34,673
11 years$53,611$47,942$42,807$38,170$33,994$29,369
12 years$48,641$43,030$37,990$33,480$29,459$25,056
13 years$44,439$38,887$33,942$29,558$25,689$21,504
14 years$40,840$35,347$30,497$26,238$22,519$18,546
15 years$37,724$32,290$27,535$23,400$19,827$16,061
16 years$35,000$29,626$24,964$20,952$17,523$13,956
17 years$32,599$27,284$22,716$18,825$15,537$12,164
18 years$30,467$25,212$20,737$16,965$13,815$10,628
19 years$28,562$23,366$18,984$15,330$12,314$9,306
20 years$26,850$21,713$17,422$13,884$10,999$8,164
21 years$25,302$20,225$16,025$12,601$9,843$7,173
22 years$23,897$18,879$14,770$11,457$8,823$6,311
23 years$22,617$17,657$13,637$10,434$7,920$5,560
24 years$21,444$16,544$12,612$9,516$7,118$4,903
25 years$20,367$15,525$11,681$8,691$6,405$4,328
26 years$19,375$14,591$10,834$7,947$5,770$3,824
27 years$18,458$13,732$10,060$7,274$5,202$3,381
28 years$17,607$12,940$9,352$6,664$4,694$2,991
29 years$16,817$12,207$8,703$6,111$4,238$2,647
30 years$16,081$11,528$8,107$5,609$3,830$2,344
31 years$15,394$10,898$7,558$5,151$3,462$2,077
32 years$14,751$10,312$7,051$4,734$3,132$1,840
33 years$14,148$9,765$6,584$4,353$2,834$1,632
34 years$13,582$9,255$6,152$4,005$2,566$1,447
35 years$13,049$8,779$5,751$3,687$2,324$1,284
36 years$12,547$8,332$5,380$3,396$2,106$1,139
37 years$12,073$7,914$5,036$3,129$1,909$1,011
38 years$11,626$7,521$4,716$2,884$1,730$897
39 years$11,202$7,152$4,418$2,659$1,569$796
40 years$10,801$6,804$4,141$2,453$1,423$707
41 years$10,420$6,477$3,883$2,263$1,291$628
42 years$10,058$6,168$3,642$2,088$1,172$558
43 years$9,714$5,877$3,418$1,928$1,063$495
44 years$9,386$5,602$3,208$1,780$965$440
45 years$9,074$5,342$3,013$1,644$876$391
46 years$8,777$5,096$2,829$1,518$796$347
47 years$8,493$4,863$2,658$1,403$722$308
48 years$8,221$4,643$2,498$1,296$656$274
49 years$7,962$4,434$2,348$1,198$596$244
50 years$7,713$4,235$2,207$1,107$541$216

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 $5,920 every year, while hoping to spend $31,833 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: 47/40/13 Blend
55$7,900,000$7,900,000$7,900,000$7,900,000
56$8,711,906$8,293,206$8,170,756$9,089,417
57$9,566,651$8,665,704$8,410,607$9,723,523
58$10,507,512$9,055,386$8,657,425$10,407,581
59$11,543,241$9,463,062$8,911,411$11,149,291
60$12,683,479$9,889,580$9,172,771$11,954,029
61$13,938,850$10,335,826$9,441,715$12,827,699
62$15,321,062$10,802,730$9,718,461$13,776,783
63$16,843,012$11,291,266$10,003,232$14,808,403
64$18,518,917$11,802,456$10,296,258$15,930,378
65$20,364,439$12,337,368$10,597,775$17,151,302
66$22,396,836$12,897,124$10,908,025$18,480,617
67$24,635,128$13,482,897$11,227,258$19,928,700
68$27,100,270$14,095,918$11,555,731$21,506,957
69$29,815,356$14,737,477$11,893,706$23,227,923
70$32,805,834$15,408,924$12,241,456$25,105,383
71$36,099,743$16,111,675$12,599,259$27,154,492
72$39,727,983$16,847,215$12,967,401$29,391,916
73$43,724,606$17,617,096$13,346,177$31,835,981
74$48,127,131$18,422,950$13,735,890$34,506,847
75$52,976,907$19,266,482$14,136,850$37,426,687
76$58,319,495$20,149,483$14,549,378$40,619,894
77$64,205,104$21,073,828$14,973,803$44,113,303
78$70,689,061$22,041,482$15,410,461$47,936,441
79$77,832,335$23,054,505$15,859,702$52,121,798
80$85,702,112$24,115,055$16,321,881$56,705,125
81$94,372,430$25,225,395$16,797,366$61,725,768
82$103,924,874$26,387,895$17,286,534$67,227,030
83$114,449,350$27,605,042$17,789,772$73,256,571
84$126,044,934$28,879,438$18,307,480$79,866,852
85$138,820,802$30,213,816$18,840,065$87,115,623
86$152,897,266$31,611,035$19,387,950$95,066,454
87$168,406,907$33,074,096$19,951,566$103,789,331
88$185,495,826$34,606,141$20,531,358$113,361,304
89$204,325,024$36,210,466$21,127,783$123,867,207
90$225,071,923$37,890,525$21,741,309$135,400,446
91$247,932,036$39,649,937$22,372,420$148,063,869
92$273,120,818$41,492,498$23,021,610$161,970,727
93$300,875,696$43,422,186$23,689,389$177,245,732
94$331,458,314$45,443,170$24,376,281$194,026,220
95$365,156,998$47,559,821$25,082,822$212,463,432
96$402,289,480$49,776,721$25,809,565$232,723,932
97$443,205,899$52,098,672$26,557,077$254,991,162
98$488,292,104$54,530,711$27,325,943$279,467,161
99$537,973,297$57,078,114$28,116,760$306,374,452
100$592,718,047$59,746,415$28,930,145$335,958,131