Can I retire at age 56 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$660,633$654,748$649,007$643,403$637,931$619,497
2 years$327,046$320,955$315,052$309,328$303,777$285,351
3 years$215,865$209,748$203,859$198,190$192,728$174,888
4 years$160,285$154,187$148,357$142,785$137,456$120,338
5 years$126,946$120,884$115,131$109,672$104,492$88,144
6 years$104,727$98,711$93,043$87,706$82,681$67,117
7 years$88,863$82,897$77,319$72,108$67,241$52,462
8 years$76,970$71,058$65,573$60,489$55,783$41,780
9 years$67,725$61,869$56,478$51,524$46,978$33,736
10 years$60,333$54,535$49,239$44,414$40,027$27,529
11 years$54,289$48,549$43,349$38,653$34,425$22,650
12 years$49,256$43,575$38,471$33,904$29,832$18,756
13 years$45,001$39,379$34,371$29,932$26,014$15,614
14 years$41,357$35,794$30,883$26,571$22,804$13,053
15 years$38,201$32,699$27,883$23,696$20,078$10,950
16 years$35,443$30,001$25,280$21,217$17,745$9,212
17 years$33,012$27,629$23,004$19,064$15,734$7,768
18 years$30,853$25,531$21,000$17,180$13,990$6,563
19 years$28,924$23,662$19,224$15,524$12,470$5,555
20 years$27,189$21,988$17,643$14,060$11,138$4,707
21 years$25,622$20,481$16,228$12,760$9,967$3,994
22 years$24,200$19,118$14,957$11,602$8,934$3,392
23 years$22,903$17,881$13,810$10,566$8,020$2,883
24 years$21,716$16,753$12,772$9,637$7,208$2,453
25 years$20,625$15,722$11,829$8,801$6,487$2,087
26 years$19,620$14,776$10,971$8,047$5,843$1,777
27 years$18,691$13,906$10,188$7,366$5,268$1,514
28 years$17,830$13,103$9,471$6,749$4,753$1,290
29 years$17,030$12,362$8,813$6,189$4,292$1,100
30 years$16,285$11,674$8,209$5,680$3,878$938
31 years$15,589$11,036$7,653$5,216$3,506$800
32 years$14,937$10,442$7,141$4,794$3,172$682
33 years$14,327$9,889$6,667$4,408$2,870$582
34 years$13,753$9,373$6,229$4,056$2,599$497
35 years$13,214$8,890$5,824$3,734$2,354$424
36 years$12,706$8,438$5,448$3,439$2,133$362
37 years$12,226$8,014$5,100$3,168$1,933$309
38 years$11,773$7,616$4,775$2,920$1,752$264
39 years$11,344$7,242$4,474$2,693$1,589$225
40 years$10,937$6,890$4,194$2,484$1,441$192
41 years$10,552$6,559$3,932$2,291$1,308$164
42 years$10,185$6,246$3,689$2,115$1,187$140
43 years$9,837$5,952$3,461$1,952$1,077$120
44 years$9,505$5,673$3,249$1,803$977$102
45 years$9,189$5,410$3,051$1,665$887$87
46 years$8,888$5,161$2,865$1,538$806$74
47 years$8,600$4,925$2,692$1,421$732$64
48 years$8,325$4,702$2,530$1,313$664$54
49 years$8,062$4,490$2,378$1,213$603$46
50 years$7,811$4,289$2,235$1,121$548$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,000,000, adding $2,697 every year, while hoping to spend $42,210 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: 66/17/17 Blend
55$8,000,000$8,000,000$8,000,000$8,000,000
56$8,818,782$8,394,782$8,270,782$9,364,027
57$9,673,387$8,761,215$8,502,942$10,095,613
58$10,613,746$9,144,189$8,741,465$10,889,873
59$11,648,563$9,544,469$8,986,519$11,757,072
60$12,787,426$9,962,858$9,238,277$12,704,356
61$14,040,901$10,400,195$9,496,916$13,739,591
62$15,420,628$10,857,360$9,762,618$14,871,434
63$16,939,436$11,335,274$10,035,570$16,109,410
64$18,611,458$11,834,902$10,315,961$17,464,005
65$20,452,268$12,357,254$10,603,987$18,946,762
66$22,479,028$12,903,388$10,899,849$20,570,387
67$24,710,648$13,474,412$11,203,753$22,348,865
68$27,167,963$14,071,488$11,515,908$24,297,597
69$29,873,935$14,695,830$11,836,530$26,433,537
70$32,853,863$15,348,713$12,165,841$28,775,352
71$36,135,627$16,031,470$12,504,066$31,343,598
72$39,749,946$16,745,497$12,851,438$34,160,906
73$43,730,674$17,492,260$13,208,194$37,252,203
74$48,115,112$18,273,290$13,574,578$40,644,934
75$52,944,366$19,090,194$13,950,839$44,369,328
76$58,263,732$19,944,653$14,337,233$48,458,673
77$64,123,123$20,838,432$14,734,020$52,949,634
78$70,577,541$21,773,374$15,141,469$57,882,590
79$77,687,596$22,751,415$15,559,854$63,302,018
80$85,520,078$23,774,582$15,989,457$69,256,907
81$94,148,586$24,844,996$16,430,563$75,801,216
82$103,654,223$25,964,883$16,883,469$82,994,381
83$114,126,364$27,136,573$17,348,476$90,901,875
84$125,663,495$28,362,507$17,825,891$99,595,819
85$138,374,145$29,645,243$18,316,032$109,155,660
86$152,377,910$30,987,461$18,819,221$119,668,919
87$167,806,581$32,391,971$19,335,789$131,232,007
88$184,805,389$33,861,715$19,866,075$143,951,141
89$203,534,376$35,399,777$20,410,426$157,943,330
90$224,169,903$37,009,386$20,969,196$173,337,487
91$246,906,317$38,693,930$21,542,748$190,275,631
92$271,957,784$40,456,955$22,131,453$208,914,227
93$299,560,312$42,302,180$22,735,691$229,425,659
94$329,973,977$44,233,500$23,355,850$251,999,849
95$363,485,380$46,254,998$23,992,327$276,846,044
96$400,410,348$48,370,953$24,645,529$304,194,788
97$441,096,920$50,585,847$25,315,872$334,300,090
98$485,928,632$52,904,379$26,003,779$367,441,814
99$535,328,133$55,331,474$26,709,686$403,928,318
100$589,761,179$57,872,292$27,434,037$444,099,353