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%14.7%
1 years$677,148$671,117$665,232$659,488$653,880$641,202
2 years$335,222$328,979$322,928$317,062$311,371$298,650
3 years$221,261$214,991$208,956$203,144$197,547$185,179
4 years$164,292$158,041$152,066$146,354$140,892$128,973
5 years$130,120$123,906$118,010$112,414$107,104$95,667
6 years$107,345$101,179$95,369$89,898$84,748$73,806
7 years$91,085$84,970$79,252$73,910$68,922$58,478
8 years$78,894$72,835$67,212$62,002$57,178$47,228
9 years$69,418$63,416$57,890$52,812$48,152$38,691
10 years$61,842$55,898$50,470$45,524$41,028$32,046
11 years$55,647$49,763$44,433$39,620$35,285$26,773
12 years$50,488$44,664$39,433$34,752$30,578$22,522
13 years$46,126$40,363$35,231$30,681$26,664$19,052
14 years$42,391$36,689$31,655$27,235$23,374$16,191
15 years$39,156$33,516$28,580$24,289$20,580$13,812
16 years$36,329$30,751$25,912$21,748$18,189$11,820
17 years$33,837$28,320$23,579$19,540$16,127$10,142
18 years$31,624$26,169$21,525$17,610$14,340$8,722
19 years$29,647$24,253$19,705$15,912$12,781$7,515
20 years$27,869$22,537$18,084$14,411$11,416$6,485
21 years$26,263$20,993$16,634$13,079$10,216$5,605
22 years$24,805$19,596$15,331$11,892$9,158$4,850
23 years$23,475$18,328$14,155$10,830$8,220$4,200
24 years$22,259$17,172$13,091$9,878$7,389$3,641
25 years$21,141$16,115$12,125$9,021$6,649$3,159
26 years$20,111$15,145$11,245$8,248$5,989$2,742
27 years$19,159$14,254$10,442$7,550$5,400$2,382
28 years$18,276$13,431$9,707$6,917$4,872$2,070
29 years$17,456$12,671$9,034$6,343$4,399$1,800
30 years$16,692$11,966$8,414$5,822$3,975$1,565
31 years$15,978$11,312$7,845$5,347$3,594$1,362
32 years$15,311$10,703$7,319$4,914$3,251$1,185
33 years$14,685$10,136$6,834$4,519$2,942$1,031
34 years$14,097$9,607$6,385$4,157$2,664$898
35 years$13,544$9,112$5,970$3,827$2,413$782
36 years$13,023$8,649$5,585$3,525$2,186$681
37 years$12,532$8,214$5,227$3,248$1,981$593
38 years$12,067$7,806$4,895$2,993$1,796$517
39 years$11,627$7,423$4,586$2,760$1,629$450
40 years$11,211$7,062$4,298$2,546$1,477$392
41 years$10,815$6,723$4,031$2,349$1,340$342
42 years$10,440$6,403$3,781$2,168$1,216$298
43 years$10,083$6,100$3,548$2,001$1,104$260
44 years$9,743$5,815$3,330$1,848$1,002$226
45 years$9,419$5,545$3,127$1,706$910$197
46 years$9,110$5,290$2,937$1,576$826$172
47 years$8,815$5,048$2,759$1,456$750$150
48 years$8,533$4,819$2,593$1,346$681$131
49 years$8,264$4,602$2,437$1,244$619$114
50 years$8,006$4,396$2,291$1,149$562$99

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 $5,120 every year, while hoping to spend $58,090 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: 40/30/30 Blend
55$8,200,000$8,200,000$8,200,000$8,200,000
56$9,041,681$8,607,081$8,479,981$9,323,094
57$9,902,125$8,967,021$8,702,253$9,888,964
58$10,848,388$9,342,651$8,930,025$10,495,035
59$11,889,161$9,734,678$9,163,418$11,149,674
60$13,034,022$10,143,843$9,402,558$11,857,374
61$14,293,521$10,570,921$9,647,573$12,623,070
62$15,679,285$11,016,721$9,898,592$13,452,181
63$17,204,124$11,482,092$10,155,747$14,350,662
64$18,882,151$11,967,921$10,419,171$15,325,055
65$20,728,918$12,475,137$10,689,000$16,382,549
66$22,761,560$13,004,711$10,965,374$17,531,048
67$24,998,958$13,557,660$11,248,433$18,779,237
68$27,461,915$14,135,049$11,538,319$20,136,666
69$30,173,355$14,737,992$11,835,178$21,613,836
70$33,158,538$15,367,654$12,139,157$23,222,293
71$36,445,295$16,025,255$12,450,405$24,974,736
72$40,064,297$16,712,074$12,769,075$26,885,135
73$44,049,336$17,429,447$13,095,320$28,968,853
74$48,437,651$18,178,773$13,429,296$31,242,794
75$53,270,276$18,961,517$13,771,162$33,725,556
76$58,592,426$19,779,213$14,121,078$36,437,604
77$64,453,926$20,633,467$14,479,206$39,401,454
78$70,909,679$21,525,959$14,845,712$42,641,890
79$78,020,184$22,458,449$15,220,761$46,186,184
80$85,852,109$23,432,779$15,604,523$50,064,355
81$94,478,917$24,450,878$15,997,167$54,309,448
82$103,981,561$25,514,765$16,398,866$58,957,834
83$114,449,247$26,626,556$16,809,795$64,049,556
84$125,980,276$27,788,463$17,230,130$69,628,697
85$138,682,973$29,002,806$17,660,047$75,743,790
86$152,676,704$30,272,012$18,099,727$82,448,273
87$168,093,011$31,598,624$18,549,351$89,800,985
88$185,076,844$32,985,302$19,009,100$97,866,716
89$203,787,936$34,434,836$19,479,159$106,716,809
90$224,402,308$35,950,145$19,959,713$116,429,831
91$247,113,927$37,534,285$20,450,947$127,092,304
92$272,136,542$39,190,460$20,953,048$138,799,514
93$299,705,700$40,922,023$21,466,206$151,656,404
94$330,080,965$42,732,487$21,990,608$165,778,555
95$363,548,374$44,625,529$22,526,444$181,293,267
96$400,423,132$46,605,004$23,073,904$198,340,755
97$441,052,589$48,674,947$23,633,177$217,075,462
98$485,819,519$50,839,585$24,204,455$237,667,502
99$535,145,733$53,103,347$24,787,926$260,304,264
100$589,496,058$55,470,871$25,383,782$285,192,161