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

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$701,922$695,670$689,570$683,616$677,802$674,946
2 years$347,486$341,015$334,743$328,661$322,763$319,880
3 years$229,356$222,857$216,601$210,577$204,774$201,953
4 years$170,303$163,823$157,630$151,709$146,047$143,309
5 years$134,880$128,439$122,327$116,527$111,022$108,376
6 years$111,273$104,880$98,859$93,187$87,848$85,297
7 years$94,417$88,078$82,152$76,614$71,444$68,990
8 years$81,781$75,500$69,671$64,270$59,270$56,912
9 years$71,958$65,736$60,008$54,744$49,914$47,652
10 years$64,104$57,943$52,316$47,190$42,529$40,363
11 years$57,683$51,583$46,058$41,069$36,576$34,504
12 years$52,335$46,298$40,876$36,023$31,696$29,716
13 years$47,814$41,840$36,520$31,803$27,640$25,750
14 years$43,942$38,032$32,813$28,231$24,229$22,427
15 years$40,589$34,743$29,626$25,177$21,333$19,617
16 years$37,658$31,876$26,860$22,544$18,854$17,222
17 years$35,075$29,356$24,442$20,255$16,717$15,167
18 years$32,781$27,126$22,312$18,254$14,864$13,393
19 years$30,731$25,141$20,426$16,494$13,249$11,854
20 years$28,889$23,362$18,746$14,939$11,834$10,513
21 years$27,224$21,761$17,242$13,558$10,590$9,340
22 years$25,712$20,313$15,892$12,327$9,493$8,311
23 years$24,334$18,998$14,673$11,226$8,521$7,405
24 years$23,073$17,800$13,570$10,239$7,659$6,606
25 years$21,914$16,704$12,569$9,351$6,892$5,899
26 years$20,847$15,699$11,657$8,550$6,208$5,273
27 years$19,860$14,775$10,824$7,826$5,597$4,717
28 years$18,945$13,922$10,063$7,170$5,050$4,223
29 years$18,094$13,134$9,364$6,575$4,560$3,783
30 years$17,302$12,404$8,722$6,035$4,121$3,391
31 years$16,563$11,726$8,132$5,542$3,725$3,041
32 years$15,871$11,095$7,587$5,093$3,370$2,729
33 years$15,222$10,507$7,084$4,684$3,050$2,450
34 years$14,613$9,958$6,619$4,310$2,761$2,200
35 years$14,040$9,445$6,188$3,967$2,501$1,976
36 years$13,500$8,965$5,789$3,654$2,266$1,775
37 years$12,990$8,515$5,418$3,366$2,054$1,596
38 years$12,509$8,092$5,074$3,103$1,862$1,434
39 years$12,053$7,695$4,754$2,861$1,688$1,290
40 years$11,621$7,321$4,456$2,639$1,531$1,160
41 years$11,211$6,969$4,178$2,435$1,389$1,043
42 years$10,822$6,637$3,919$2,247$1,261$939
43 years$10,452$6,324$3,678$2,074$1,144$845
44 years$10,099$6,028$3,452$1,915$1,039$760
45 years$9,763$5,748$3,241$1,769$943$684
46 years$9,443$5,483$3,044$1,634$856$616
47 years$9,138$5,233$2,860$1,509$777$554
48 years$8,846$4,995$2,688$1,395$706$499
49 years$8,566$4,770$2,526$1,289$641$449
50 years$8,299$4,557$2,375$1,191$582$404

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 $3,188 every year, while hoping to spend $25,790 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: 72/20/8 Blend
55$8,500,000$8,500,000$8,500,000$8,500,000
56$9,370,288$8,919,788$8,788,038$10,032,446
57$10,298,617$9,329,418$9,054,997$10,879,672
58$11,320,772$9,758,254$9,330,035$11,803,474
59$12,446,294$10,207,213$9,613,395$12,814,205
60$13,685,700$10,677,250$9,905,328$13,920,429
61$15,050,577$11,169,371$10,206,091$15,131,572
62$16,553,692$11,684,626$10,515,952$16,458,008
63$18,209,117$12,224,121$10,835,184$17,911,155
64$20,032,353$12,789,009$11,164,069$19,503,579
65$22,040,485$13,380,503$11,502,898$21,249,113
66$24,252,339$13,999,872$11,851,969$23,162,987
67$26,688,659$14,648,447$12,211,592$25,261,964
68$29,372,306$15,327,624$12,582,084$27,564,501
69$32,328,469$16,038,865$12,963,771$30,090,919
70$35,584,906$16,783,703$13,356,990$32,863,593
71$39,172,206$17,563,744$13,762,089$35,907,158
72$43,124,076$18,380,673$14,179,425$39,248,741
73$47,477,661$19,236,255$14,609,364$42,918,216
74$52,273,891$20,132,341$15,052,287$46,948,479
75$57,557,873$21,070,870$15,508,584$51,375,757
76$63,379,310$22,053,877$15,978,655$56,239,949
77$69,792,976$23,083,493$16,462,916$61,584,994
78$76,859,228$24,161,953$16,961,793$67,459,287
79$84,644,580$25,291,600$17,475,724$73,916,131
80$93,222,328$26,474,889$18,005,161$81,014,234
81$102,673,243$27,714,395$18,550,571$88,818,262
82$113,086,331$29,012,818$19,112,432$97,399,442
83$124,559,677$30,372,986$19,691,239$106,836,235
84$137,201,368$31,797,867$20,287,500$117,215,063
85$151,130,515$33,290,570$20,901,739$128,631,132
86$166,478,375$34,854,355$21,534,495$141,189,313
87$183,389,592$36,492,641$22,186,323$155,005,138
88$202,023,562$38,209,012$22,857,796$170,205,875
89$222,555,936$40,007,224$23,549,503$186,931,731
90$245,180,280$41,891,216$24,262,049$205,337,165
91$270,109,901$43,865,119$24,996,061$225,592,344
92$297,579,863$45,933,262$25,752,181$247,884,736
93$327,849,202$48,100,184$26,531,072$272,420,879
94$361,203,373$50,370,646$27,333,416$299,428,320
95$397,956,947$52,749,637$28,159,915$329,157,757
96$438,456,576$55,242,390$29,011,292$361,885,396
97$483,084,270$57,854,391$29,888,294$397,915,550
98$532,261,000$60,591,391$30,791,687$437,583,507
99$586,450,674$63,459,421$31,722,260$481,258,680
100$646,164,515$66,464,805$32,680,828$529,348,087