Can I retire at age 56 with 8,500,000?

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$701,922$695,670$689,570$683,616$677,802$660,345
2 years$347,486$341,015$334,743$328,661$322,763$305,291
3 years$229,356$222,857$216,601$210,577$204,774$187,834
4 years$170,303$163,823$157,630$151,709$146,047$129,769
5 years$134,880$128,439$122,327$116,527$111,022$95,452
6 years$111,273$104,880$98,859$93,187$87,848$73,001
7 years$94,417$88,078$82,152$76,614$71,444$57,321
8 years$81,781$75,500$69,671$64,270$59,270$45,864
9 years$71,958$65,736$60,008$54,744$49,914$37,213
10 years$64,104$57,943$52,316$47,190$42,529$30,519
11 years$57,683$51,583$46,058$41,069$36,576$25,239
12 years$52,335$46,298$40,876$36,023$31,696$21,011
13 years$47,814$41,840$36,520$31,803$27,640$17,585
14 years$43,942$38,032$32,813$28,231$24,229$14,782
15 years$40,589$34,743$29,626$25,177$21,333$12,470
16 years$37,658$31,876$26,860$22,544$18,854$10,551
17 years$35,075$29,356$24,442$20,255$16,717$8,949
18 years$32,781$27,126$22,312$18,254$14,864$7,606
19 years$30,731$25,141$20,426$16,494$13,249$6,476
20 years$28,889$23,362$18,746$14,939$11,834$5,522
21 years$27,224$21,761$17,242$13,558$10,590$4,714
22 years$25,712$20,313$15,892$12,327$9,493$4,029
23 years$24,334$18,998$14,673$11,226$8,521$3,446
24 years$23,073$17,800$13,570$10,239$7,659$2,950
25 years$21,914$16,704$12,569$9,351$6,892$2,527
26 years$20,847$15,699$11,657$8,550$6,208$2,165
27 years$19,860$14,775$10,824$7,826$5,597$1,857
28 years$18,945$13,922$10,063$7,170$5,050$1,593
29 years$18,094$13,134$9,364$6,575$4,560$1,367
30 years$17,302$12,404$8,722$6,035$4,121$1,173
31 years$16,563$11,726$8,132$5,542$3,725$1,007
32 years$15,871$11,095$7,587$5,093$3,370$865
33 years$15,222$10,507$7,084$4,684$3,050$743
34 years$14,613$9,958$6,619$4,310$2,761$638
35 years$14,040$9,445$6,188$3,967$2,501$548
36 years$13,500$8,965$5,789$3,654$2,266$471
37 years$12,990$8,515$5,418$3,366$2,054$405
38 years$12,509$8,092$5,074$3,103$1,862$348
39 years$12,053$7,695$4,754$2,861$1,688$299
40 years$11,621$7,321$4,456$2,639$1,531$257
41 years$11,211$6,969$4,178$2,435$1,389$221
42 years$10,822$6,637$3,919$2,247$1,261$190
43 years$10,452$6,324$3,678$2,074$1,144$163
44 years$10,099$6,028$3,452$1,915$1,039$140
45 years$9,763$5,748$3,241$1,769$943$121
46 years$9,443$5,483$3,044$1,634$856$104
47 years$9,138$5,233$2,860$1,509$777$89
48 years$8,846$4,995$2,688$1,395$706$77
49 years$8,566$4,770$2,526$1,289$641$66
50 years$8,299$4,557$2,375$1,191$582$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,500,000, adding $5,823 every year, while hoping to spend $50,434 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: 57/31/12 Blend
55$8,500,000$8,500,000$8,500,000$8,500,000
56$9,373,006$8,922,506$8,790,756$9,878,835
57$10,275,392$9,306,048$9,031,585$10,604,866
58$11,268,130$9,706,692$9,278,792$11,389,520
59$12,360,384$10,125,225$9,532,536$12,243,315
60$13,562,249$10,562,467$9,792,982$13,172,881
61$14,884,850$11,019,279$10,060,298$14,185,506
62$16,340,442$11,496,561$10,334,656$15,289,203
63$17,942,530$11,995,257$10,616,230$16,492,783
64$19,705,996$12,516,352$10,905,201$17,805,937
65$21,647,235$13,060,880$11,201,753$19,239,323
66$23,784,314$13,629,924$11,506,073$20,804,664
67$26,137,141$14,224,617$11,818,353$22,514,859
68$28,727,650$14,846,145$12,138,789$24,384,095
69$31,580,015$15,495,750$12,467,582$26,427,985
70$34,720,868$16,174,733$12,804,938$28,663,707
71$38,179,558$16,884,457$13,151,065$31,110,166
72$41,988,425$17,626,347$13,506,178$33,788,167
73$46,183,105$18,401,899$13,870,495$36,720,605
74$50,802,866$19,212,676$14,244,241$39,932,686
75$55,890,979$20,060,318$14,627,644$43,452,148
76$61,495,125$20,946,540$15,020,936$47,309,532
77$67,667,847$21,873,140$15,424,357$51,538,455
78$74,467,044$22,842,000$15,838,149$56,175,927
79$81,956,516$23,855,092$16,262,561$61,262,698
80$90,206,571$24,914,481$16,697,847$66,843,633
81$99,294,681$26,022,331$17,144,265$72,968,132
82$109,306,221$27,180,907$17,602,080$79,690,592
83$120,335,267$28,392,584$18,071,561$87,070,911
84$132,485,490$29,659,846$18,552,985$95,175,052
85$145,871,131$30,985,299$19,046,630$104,075,656
86$160,618,079$32,371,671$19,552,785$113,852,723
87$176,865,060$33,821,821$20,071,741$124,594,358
88$194,764,948$35,338,741$20,603,795$136,397,598
89$214,486,203$36,925,570$21,149,253$149,369,318
90$236,214,466$38,585,593$21,708,423$163,627,233
91$260,154,307$40,322,253$22,281,621$179,301,001
92$286,531,161$42,139,158$22,869,170$196,533,441
93$315,593,449$44,040,086$23,471,396$215,481,864
94$347,614,927$46,028,997$24,088,635$236,319,559
95$382,897,272$48,110,040$24,721,226$259,237,411
96$421,772,922$50,287,560$25,369,516$284,445,695
97$464,608,223$52,566,113$26,033,857$312,176,054
98$511,806,880$54,950,471$26,714,610$342,683,666
99$563,813,771$57,445,634$27,412,139$376,249,651
100$621,119,147$60,056,842$28,126,817$413,183,704