Can I retire at age 56 with 8,200,000?

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 $8,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$677,148$671,117$665,232$659,488$653,880$640,939
2 years$335,222$328,979$322,928$317,062$311,371$298,389
3 years$221,261$214,991$208,956$203,144$197,547$184,927
4 years$164,292$158,041$152,066$146,354$140,892$128,732
5 years$130,120$123,906$118,010$112,414$107,104$95,439
6 years$107,345$101,179$95,369$89,898$84,748$73,590
7 years$91,085$84,970$79,252$73,910$68,922$58,274
8 years$78,894$72,835$67,212$62,002$57,178$47,036
9 years$69,418$63,416$57,890$52,812$48,152$38,511
10 years$61,842$55,898$50,470$45,524$41,028$31,877
11 years$55,647$49,763$44,433$39,620$35,285$26,615
12 years$50,488$44,664$39,433$34,752$30,578$22,374
13 years$46,126$40,363$35,231$30,681$26,664$18,915
14 years$42,391$36,689$31,655$27,235$23,374$16,063
15 years$39,156$33,516$28,580$24,289$20,580$13,693
16 years$36,329$30,751$25,912$21,748$18,189$11,710
17 years$33,837$28,320$23,579$19,540$16,127$10,041
18 years$31,624$26,169$21,525$17,610$14,340$8,628
19 years$29,647$24,253$19,705$15,912$12,781$7,429
20 years$27,869$22,537$18,084$14,411$11,416$6,407
21 years$26,263$20,993$16,634$13,079$10,216$5,532
22 years$24,805$19,596$15,331$11,892$9,158$4,783
23 years$23,475$18,328$14,155$10,830$8,220$4,140
24 years$22,259$17,172$13,091$9,878$7,389$3,586
25 years$21,141$16,115$12,125$9,021$6,649$3,108
26 years$20,111$15,145$11,245$8,248$5,989$2,696
27 years$19,159$14,254$10,442$7,550$5,400$2,340
28 years$18,276$13,431$9,707$6,917$4,872$2,032
29 years$17,456$12,671$9,034$6,343$4,399$1,765
30 years$16,692$11,966$8,414$5,822$3,975$1,534
31 years$15,978$11,312$7,845$5,347$3,594$1,333
32 years$15,311$10,703$7,319$4,914$3,251$1,159
33 years$14,685$10,136$6,834$4,519$2,942$1,008
34 years$14,097$9,607$6,385$4,157$2,664$877
35 years$13,544$9,112$5,970$3,827$2,413$763
36 years$13,023$8,649$5,585$3,525$2,186$664
37 years$12,532$8,214$5,227$3,248$1,981$578
38 years$12,067$7,806$4,895$2,993$1,796$503
39 years$11,627$7,423$4,586$2,760$1,629$438
40 years$11,211$7,062$4,298$2,546$1,477$381
41 years$10,815$6,723$4,031$2,349$1,340$332
42 years$10,440$6,403$3,781$2,168$1,216$289
43 years$10,083$6,100$3,548$2,001$1,104$252
44 years$9,743$5,815$3,330$1,848$1,002$219
45 years$9,419$5,545$3,127$1,706$910$191
46 years$9,110$5,290$2,937$1,576$826$166
47 years$8,815$5,048$2,759$1,456$750$145
48 years$8,533$4,819$2,593$1,346$681$126
49 years$8,264$4,602$2,437$1,244$619$110
50 years$8,006$4,396$2,291$1,149$562$96

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,200,000, adding $3,590 every year, while hoping to spend $24,962 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: 43/29/28 Blend
55$8,200,000$8,200,000$8,200,000$8,200,000
56$9,040,103$8,605,503$8,478,403$9,354,854
57$9,935,634$9,000,613$8,735,870$9,975,954
58$10,921,673$9,414,247$9,001,126$10,645,846
59$12,007,425$9,847,287$9,274,405$11,371,215
60$13,203,033$10,300,654$9,555,948$12,157,218
61$14,519,675$10,775,319$9,846,005$13,009,518
62$15,969,667$11,272,295$10,144,832$13,934,335
63$17,566,582$11,792,647$10,452,692$14,938,499
64$19,325,374$12,337,487$10,769,858$16,029,516
65$21,262,524$12,907,985$11,096,610$17,215,631
66$23,396,190$13,505,366$11,433,235$18,505,904
67$25,746,385$14,130,912$11,780,032$19,910,295
68$28,335,158$14,785,969$12,137,306$21,439,751
69$31,186,810$15,471,947$12,505,371$23,106,306
70$34,328,117$16,190,324$12,884,553$24,923,193
71$37,788,584$16,942,650$13,275,185$26,904,960
72$41,600,728$17,730,548$13,677,612$29,067,611
73$45,800,378$18,555,721$14,092,188$31,428,743
74$50,427,019$19,419,953$14,519,278$34,007,715
75$55,524,159$20,325,115$14,959,258$36,825,822
76$61,139,745$21,273,168$15,412,515$39,906,493
77$67,326,613$22,266,167$15,879,449$43,275,506
78$74,142,987$23,306,268$16,360,469$46,961,224
79$81,653,025$24,395,729$16,855,998$50,994,860
80$89,927,432$25,536,918$17,366,473$55,410,765
81$99,044,122$26,732,318$17,892,341$60,246,743
82$109,088,952$27,984,532$18,434,065$65,544,405
83$120,156,539$29,296,288$18,992,119$71,349,553
84$132,351,146$30,670,446$19,566,995$77,712,606
85$145,787,669$32,110,005$20,159,196$84,689,067
86$160,592,725$33,618,108$20,769,243$92,340,040
87$176,905,839$35,198,052$21,397,669$100,732,800
88$194,880,770$36,853,292$22,045,026$109,941,417
89$214,686,956$38,587,450$22,711,882$120,047,447
90$236,511,116$40,404,325$23,398,820$131,140,693
91$260,559,011$42,307,899$24,106,442$143,320,044
92$287,057,391$44,302,347$24,835,369$156,694,395
93$316,256,128$46,392,045$25,586,237$171,383,669
94$348,430,582$48,581,583$26,359,704$187,519,934
95$383,884,193$50,875,773$27,156,446$205,248,637
96$422,951,355$53,279,660$27,977,161$224,729,970
97$466,000,562$55,798,533$28,822,565$246,140,366
98$513,437,897$58,437,938$29,693,398$269,674,151
99$565,710,855$61,203,690$30,590,420$295,545,366
100$623,312,578$64,101,886$31,514,414$323,989,772