Can I retire at age 56 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$685,406$679,301$673,344$667,531$661,854$643,246
2 years$339,310$332,991$326,866$320,928$315,168$296,563
3 years$223,960$217,613$211,504$205,622$199,956$181,936
4 years$166,296$159,969$153,921$148,139$142,610$125,314
5 years$131,707$125,417$119,449$113,785$108,410$91,885
6 years$108,655$102,413$96,532$90,995$85,781$70,042
7 years$92,195$86,006$80,219$74,812$69,763$54,811
8 years$79,857$73,723$68,032$62,758$57,875$43,702
9 years$70,265$64,189$58,596$53,456$48,739$35,330
10 years$62,596$56,580$51,085$46,079$41,528$28,867
11 years$56,325$50,370$44,975$40,103$35,716$23,780
12 years$51,104$45,209$39,914$35,176$30,950$19,719
13 years$46,689$40,856$35,660$31,055$26,989$16,437
14 years$42,908$37,137$32,041$27,567$23,659$13,760
15 years$39,634$33,925$28,929$24,585$20,831$11,559
16 years$36,772$31,126$26,228$22,013$18,411$9,739
17 years$34,250$28,665$23,867$19,779$16,324$8,224
18 years$32,010$26,488$21,787$17,824$14,515$6,959
19 years$30,008$24,549$19,945$16,106$12,937$5,898
20 years$28,209$22,812$18,305$14,587$11,556$5,006
21 years$26,583$21,249$16,837$13,239$10,341$4,254
22 years$25,107$19,835$15,518$12,037$9,269$3,619
23 years$23,762$18,551$14,328$10,962$8,321$3,081
24 years$22,530$17,381$13,251$9,998$7,479$2,625
25 years$21,399$16,311$12,273$9,131$6,730$2,237
26 years$20,356$15,330$11,382$8,349$6,062$1,908
27 years$19,392$14,427$10,570$7,642$5,465$1,628
28 years$18,499$13,595$9,826$7,002$4,931$1,390
29 years$17,669$12,825$9,144$6,421$4,453$1,187
30 years$16,895$12,112$8,517$5,893$4,024$1,014
31 years$16,173$11,450$7,940$5,412$3,638$866
32 years$15,497$10,834$7,408$4,974$3,291$740
33 years$14,864$10,260$6,917$4,574$2,978$632
34 years$14,269$9,724$6,463$4,208$2,696$540
35 years$13,710$9,223$6,042$3,874$2,442$462
36 years$13,182$8,754$5,653$3,568$2,213$395
37 years$12,685$8,314$5,291$3,287$2,005$338
38 years$12,214$7,902$4,955$3,030$1,818$289
39 years$11,769$7,514$4,642$2,794$1,649$247
40 years$11,347$7,149$4,351$2,577$1,495$211
41 years$10,947$6,805$4,080$2,377$1,357$181
42 years$10,567$6,481$3,827$2,194$1,231$154
43 years$10,206$6,175$3,591$2,025$1,117$132
44 years$9,862$5,886$3,371$1,870$1,014$113
45 years$9,534$5,613$3,165$1,727$921$97
46 years$9,221$5,354$2,973$1,595$836$83
47 years$8,923$5,110$2,793$1,474$759$71
48 years$8,637$4,878$2,624$1,362$689$60
49 years$8,365$4,658$2,467$1,259$626$52
50 years$8,104$4,450$2,319$1,163$569$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,300,000, adding $4,558 every year, while hoping to spend $22,234 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: 58/21/21 Blend
55$8,300,000$8,300,000$8,300,000$8,300,000
56$9,151,302$8,711,402$8,582,752$9,630,578
57$10,061,078$9,114,603$8,846,617$10,360,329
58$11,062,905$9,536,817$9,118,577$11,152,749
59$12,166,151$9,978,950$9,398,878$12,016,191
60$13,381,135$10,441,955$9,687,777$12,957,517
61$14,719,229$10,926,830$9,985,536$13,984,273
62$16,192,966$11,434,620$10,292,427$15,104,758
63$17,816,153$11,966,421$10,608,728$16,328,100
64$19,604,008$12,523,383$10,934,728$17,664,340
65$21,573,298$13,106,710$11,270,722$19,124,526
66$23,742,501$13,717,665$11,617,018$20,720,813
67$26,131,977$14,357,571$11,973,929$22,466,573
68$28,764,164$15,027,818$12,341,781$24,376,524
69$31,663,785$15,729,857$12,720,907$26,466,863
70$34,858,087$16,465,216$13,111,653$28,755,413
71$38,377,093$17,235,492$13,514,374$31,261,794
72$42,253,886$18,042,361$13,929,436$34,007,602
73$46,524,926$18,887,581$14,357,215$37,016,607
74$51,230,388$19,772,992$14,798,102$40,314,979
75$56,414,545$20,700,525$15,252,495$43,931,526
76$62,126,183$21,672,206$15,720,808$47,897,968
77$68,419,065$22,690,155$16,203,467$52,249,228
78$75,352,435$23,756,598$16,700,908$57,023,756
79$82,991,580$24,873,868$17,213,585$62,263,893
80$91,408,443$26,044,410$17,741,962$68,016,263
81$100,682,306$27,270,787$18,286,520$74,332,208
82$110,900,533$28,555,688$18,847,751$81,268,268
83$122,159,403$29,901,932$19,426,165$88,886,711
84$134,565,007$31,312,472$20,022,287$97,256,112
85$148,234,262$32,790,407$20,636,658$106,451,998
86$163,296,005$34,338,985$21,269,834$116,557,555
87$179,892,213$35,961,612$21,922,390$127,664,404
88$198,179,346$37,661,857$22,594,916$139,873,461
89$218,329,817$39,443,466$23,288,024$153,295,885
90$240,533,626$41,310,363$24,002,340$168,054,115
91$265,000,150$43,266,665$24,738,512$184,283,026
92$291,960,120$45,316,686$25,497,207$202,131,187
93$321,667,800$47,464,952$26,279,112$221,762,259
94$354,403,388$49,716,207$27,084,934$243,356,532
95$390,475,658$52,075,426$27,915,404$267,112,617
96$430,224,878$54,547,825$28,771,274$293,249,312
97$474,026,021$57,138,874$29,653,316$322,007,658
98$522,292,304$59,854,307$30,562,331$353,653,203
99$575,479,090$62,700,139$31,499,140$388,478,501
100$634,088,187$65,682,676$32,464,591$426,805,861