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%15.6%
1 years$685,406$679,301$673,344$667,531$661,854$646,642
2 years$339,310$332,991$326,866$320,928$315,168$299,927
3 years$223,960$217,613$211,504$205,622$199,956$185,160
4 years$166,296$159,969$153,921$148,139$142,610$128,375
5 years$131,707$125,417$119,449$113,785$108,410$94,775
6 years$108,655$102,413$96,532$90,995$85,781$72,760
7 years$92,195$86,006$80,219$74,812$69,763$57,358
8 years$79,857$73,723$68,032$62,758$57,875$46,082
9 years$70,265$64,189$58,596$53,456$48,739$37,549
10 years$62,596$56,580$51,085$46,079$41,528$30,928
11 years$56,325$50,370$44,975$40,103$35,716$25,691
12 years$51,104$45,209$39,914$35,176$30,950$21,486
13 years$46,689$40,856$35,660$31,055$26,989$18,067
14 years$42,908$37,137$32,041$27,567$23,659$15,260
15 years$39,634$33,925$28,929$24,585$20,831$12,937
16 years$36,772$31,126$26,228$22,013$18,411$11,001
17 years$34,250$28,665$23,867$19,779$16,324$9,378
18 years$32,010$26,488$21,787$17,824$14,515$8,012
19 years$30,008$24,549$19,945$16,106$12,937$6,857
20 years$28,209$22,812$18,305$14,587$11,556$5,878
21 years$26,583$21,249$16,837$13,239$10,341$5,045
22 years$25,107$19,835$15,518$12,037$9,269$4,335
23 years$23,762$18,551$14,328$10,962$8,321$3,728
24 years$22,530$17,381$13,251$9,998$7,479$3,209
25 years$21,399$16,311$12,273$9,131$6,730$2,764
26 years$20,356$15,330$11,382$8,349$6,062$2,382
27 years$19,392$14,427$10,570$7,642$5,465$2,054
28 years$18,499$13,595$9,826$7,002$4,931$1,772
29 years$17,669$12,825$9,144$6,421$4,453$1,529
30 years$16,895$12,112$8,517$5,893$4,024$1,320
31 years$16,173$11,450$7,940$5,412$3,638$1,140
32 years$15,497$10,834$7,408$4,974$3,291$985
33 years$14,864$10,260$6,917$4,574$2,978$851
34 years$14,269$9,724$6,463$4,208$2,696$735
35 years$13,710$9,223$6,042$3,874$2,442$635
36 years$13,182$8,754$5,653$3,568$2,213$549
37 years$12,685$8,314$5,291$3,287$2,005$475
38 years$12,214$7,902$4,955$3,030$1,818$410
39 years$11,769$7,514$4,642$2,794$1,649$355
40 years$11,347$7,149$4,351$2,577$1,495$307
41 years$10,947$6,805$4,080$2,377$1,357$265
42 years$10,567$6,481$3,827$2,194$1,231$229
43 years$10,206$6,175$3,591$2,025$1,117$198
44 years$9,862$5,886$3,371$1,870$1,014$172
45 years$9,534$5,613$3,165$1,727$921$148
46 years$9,221$5,354$2,973$1,595$836$128
47 years$8,923$5,110$2,793$1,474$759$111
48 years$8,637$4,878$2,624$1,362$689$96
49 years$8,365$4,658$2,467$1,259$626$83
50 years$8,104$4,450$2,319$1,163$569$72

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 $4,020 every year, while hoping to spend $26,871 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: 58/20/22 Blend
55$8,300,000$8,300,000$8,300,000$8,300,000
56$9,150,747$8,710,847$8,582,197$9,627,344
57$10,055,532$9,109,088$8,841,110$10,350,566
58$11,051,705$9,525,942$9,107,796$11,135,441
59$12,148,559$9,962,293$9,382,487$11,990,580
60$13,356,334$10,419,067$9,665,422$12,922,777
61$14,686,313$10,897,234$9,956,847$13,939,502
62$16,150,931$11,397,812$10,257,015$15,048,976
63$17,763,888$11,921,867$10,566,187$16,260,237
64$19,540,282$12,470,516$10,884,631$17,583,231
65$21,496,749$13,044,930$11,212,625$19,028,899
66$23,651,621$13,646,335$11,550,451$20,609,282
67$26,025,100$14,276,019$11,898,405$22,337,628
68$28,639,445$14,935,329$12,256,787$24,228,515
69$31,519,187$15,625,679$12,625,908$26,297,990
70$34,691,357$16,348,549$13,006,088$28,563,713
71$38,185,739$17,105,492$13,397,656$31,045,123
72$42,035,158$17,898,135$13,800,951$33,763,618
73$46,275,784$18,728,184$14,216,323$36,742,753
74$50,947,475$19,597,425$14,644,130$40,008,461
75$56,094,152$20,507,734$15,084,743$43,589,293
76$61,764,216$21,461,074$15,538,543$47,516,682
77$68,011,004$22,459,504$16,005,922$51,825,241
78$74,893,289$23,505,182$16,487,283$56,553,081
79$82,475,839$24,600,371$16,983,042$61,742,167
80$90,830,029$25,747,443$17,493,627$67,438,714
81$100,034,507$26,948,883$18,019,480$73,693,614
82$110,175,947$28,207,298$18,561,052$80,562,914
83$121,349,857$29,525,420$19,118,811$88,108,340
84$133,661,490$30,906,113$19,693,239$96,397,874
85$147,226,828$32,352,379$20,284,829$105,506,391
86$162,173,685$33,867,366$20,894,091$115,516,360
87$178,642,908$35,454,373$21,521,549$126,518,616
88$196,789,707$37,116,860$22,167,744$138,613,214
89$216,785,125$38,858,454$22,833,231$151,910,363
90$238,817,645$40,682,956$23,518,582$166,531,463
91$263,094,977$42,594,352$24,224,386$182,610,243
92$289,846,011$44,596,822$24,951,249$200,294,017
93$319,322,983$46,694,746$25,699,796$219,745,064
94$351,803,857$48,892,718$26,470,668$241,142,156
95$387,594,942$51,195,553$27,264,528$264,682,238
96$427,033,792$53,608,301$28,082,055$290,582,272
97$470,492,385$56,136,254$28,923,950$319,081,283
98$518,380,641$58,784,963$29,790,935$350,442,604
99$571,150,288$61,560,247$30,683,753$384,956,351
100$629,299,124$64,468,207$31,603,166$422,942,151