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

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 $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%19.1%
1 years$677,148$671,117$665,232$659,488$653,880$629,928
2 years$335,222$328,979$322,928$317,062$311,371$287,507
3 years$221,261$214,991$208,956$203,144$197,547$174,520
4 years$164,292$158,041$152,066$146,354$140,892$118,879
5 years$130,120$123,906$118,010$112,414$107,104$86,162
6 years$107,345$101,179$95,369$89,898$84,748$64,892
7 years$91,085$84,970$79,252$73,910$68,922$50,148
8 years$78,894$72,835$67,212$62,002$57,178$39,467
9 years$69,418$63,416$57,890$52,812$48,152$31,482
10 years$61,842$55,898$50,470$45,524$41,028$25,369
11 years$55,647$49,763$44,433$39,620$35,285$20,604
12 years$50,488$44,664$39,433$34,752$30,578$16,837
13 years$46,126$40,363$35,231$30,681$26,664$13,827
14 years$42,391$36,689$31,655$27,235$23,374$11,399
15 years$39,156$33,516$28,580$24,289$20,580$9,428
16 years$36,329$30,751$25,912$21,748$18,189$7,818
17 years$33,837$28,320$23,579$19,540$16,127$6,496
18 years$31,624$26,169$21,525$17,610$14,340$5,408
19 years$29,647$24,253$19,705$15,912$12,781$4,508
20 years$27,869$22,537$18,084$14,411$11,416$3,762
21 years$26,263$20,993$16,634$13,079$10,216$3,143
22 years$24,805$19,596$15,331$11,892$9,158$2,628
23 years$23,475$18,328$14,155$10,830$8,220$2,199
24 years$22,259$17,172$13,091$9,878$7,389$1,841
25 years$21,141$16,115$12,125$9,021$6,649$1,542
26 years$20,111$15,145$11,245$8,248$5,989$1,292
27 years$19,159$14,254$10,442$7,550$5,400$1,083
28 years$18,276$13,431$9,707$6,917$4,872$908
29 years$17,456$12,671$9,034$6,343$4,399$761
30 years$16,692$11,966$8,414$5,822$3,975$639
31 years$15,978$11,312$7,845$5,347$3,594$536
32 years$15,311$10,703$7,319$4,914$3,251$450
33 years$14,685$10,136$6,834$4,519$2,942$377
34 years$14,097$9,607$6,385$4,157$2,664$317
35 years$13,544$9,112$5,970$3,827$2,413$266
36 years$13,023$8,649$5,585$3,525$2,186$223
37 years$12,532$8,214$5,227$3,248$1,981$187
38 years$12,067$7,806$4,895$2,993$1,796$157
39 years$11,627$7,423$4,586$2,760$1,629$132
40 years$11,211$7,062$4,298$2,546$1,477$111
41 years$10,815$6,723$4,031$2,349$1,340$93
42 years$10,440$6,403$3,781$2,168$1,216$78
43 years$10,083$6,100$3,548$2,001$1,104$66
44 years$9,743$5,815$3,330$1,848$1,002$55
45 years$9,419$5,545$3,127$1,706$910$46
46 years$9,110$5,290$2,937$1,576$826$39
47 years$8,815$5,048$2,759$1,456$750$33
48 years$8,533$4,819$2,593$1,346$681$27
49 years$8,264$4,602$2,437$1,244$619$23
50 years$8,006$4,396$2,291$1,149$562$19

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 $3,501 every year, while hoping to spend $26,464 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: 45/25/30 Blend
55$8,200,000$8,200,000$8,200,000$8,200,000
56$9,040,011$8,605,411$8,478,311$9,368,165
57$9,933,935$8,998,919$8,734,177$9,996,157
58$10,918,152$9,410,822$8,997,728$10,674,026
59$12,001,844$9,841,992$9,269,192$11,408,733
60$13,195,129$10,293,347$9,548,807$12,205,610
61$14,509,156$10,765,844$9,836,816$13,070,512
62$15,956,209$11,260,490$10,133,468$14,009,872
63$17,549,826$11,778,338$10,439,023$15,030,760
64$19,304,923$12,320,492$10,753,746$16,140,945
65$21,237,939$12,888,109$11,077,909$17,348,967
66$23,366,985$13,482,403$11,411,796$18,664,214
67$25,712,021$14,104,645$11,755,695$20,097,006
68$28,295,042$14,756,167$12,109,905$21,658,693
69$31,140,283$15,438,366$12,474,734$23,361,755
70$34,274,452$16,152,706$12,850,498$25,219,919
71$37,726,979$16,900,721$13,237,522$27,248,281
72$41,530,294$17,684,020$13,636,142$29,463,451
73$45,720,136$18,504,288$14,046,704$31,883,700
74$50,335,884$19,363,292$14,469,563$34,529,130
75$55,420,935$20,262,885$14,905,085$37,421,861
76$61,023,112$21,205,008$15,353,647$40,586,234
77$67,195,112$22,191,696$15,815,636$44,049,037
78$73,995,007$23,225,082$16,291,454$47,839,750
79$81,486,789$24,307,403$16,781,509$51,990,822
80$89,740,979$25,441,003$17,286,227$56,537,968
81$98,835,286$26,628,339$17,806,043$61,520,507
82$108,855,346$27,871,988$18,341,405$66,981,717
83$119,895,525$29,174,650$18,892,777$72,969,249
84$132,059,816$30,539,155$19,460,632$79,535,562
85$145,462,816$31,968,472$20,045,462$86,738,414
86$160,230,808$33,465,712$20,647,770$94,641,402
87$176,502,955$35,034,137$21,268,075$103,314,553
88$194,432,612$36,677,165$21,906,911$112,834,979
89$214,188,774$38,398,382$22,564,828$123,287,594
90$235,957,672$40,201,545$23,242,392$134,765,912
91$259,944,529$42,090,595$23,940,187$147,372,918
92$286,375,499$44,069,663$24,658,812$161,222,030
93$315,499,803$46,143,079$25,398,885$176,438,164
94$347,592,076$48,315,383$26,161,041$193,158,900
95$382,954,967$50,591,337$26,945,935$211,535,774
96$421,921,991$52,975,929$27,754,241$231,735,692
97$464,860,677$55,474,393$28,586,651$253,942,501
98$512,176,044$58,092,216$29,443,881$278,358,708
99$564,314,414$60,835,148$30,326,665$305,207,383
100$621,767,635$63,709,221$31,235,760$334,734,248