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%14.8%
1 years$701,922$695,670$689,570$683,616$677,802$664,388
2 years$347,486$341,015$334,743$328,661$322,763$309,306
3 years$229,356$222,857$216,601$210,577$204,774$191,693
4 years$170,303$163,823$157,630$151,709$146,047$133,442
5 years$134,880$128,439$122,327$116,527$111,022$98,930
6 years$111,273$104,880$98,859$93,187$87,848$76,282
7 years$94,417$88,078$82,152$76,614$71,444$60,406
8 years$81,781$75,500$69,671$64,270$59,270$48,757
9 years$71,958$65,736$60,008$54,744$49,914$39,919
10 years$64,104$57,943$52,316$47,190$42,529$33,044
11 years$57,683$51,583$46,058$41,069$36,576$27,588
12 years$52,335$46,298$40,876$36,023$31,696$23,193
13 years$47,814$41,840$36,520$31,803$27,640$19,607
14 years$43,942$38,032$32,813$28,231$24,229$16,651
15 years$40,589$34,743$29,626$25,177$21,333$14,194
16 years$37,658$31,876$26,860$22,544$18,854$12,139
17 years$35,075$29,356$24,442$20,255$16,717$10,408
18 years$32,781$27,126$22,312$18,254$14,864$8,944
19 years$30,731$25,141$20,426$16,494$13,249$7,701
20 years$28,889$23,362$18,746$14,939$11,834$6,641
21 years$27,224$21,761$17,242$13,558$10,590$5,735
22 years$25,712$20,313$15,892$12,327$9,493$4,958
23 years$24,334$18,998$14,673$11,226$8,521$4,291
24 years$23,073$17,800$13,570$10,239$7,659$3,717
25 years$21,914$16,704$12,569$9,351$6,892$3,222
26 years$20,847$15,699$11,657$8,550$6,208$2,795
27 years$19,860$14,775$10,824$7,826$5,597$2,426
28 years$18,945$13,922$10,063$7,170$5,050$2,106
29 years$18,094$13,134$9,364$6,575$4,560$1,830
30 years$17,302$12,404$8,722$6,035$4,121$1,590
31 years$16,563$11,726$8,132$5,542$3,725$1,382
32 years$15,871$11,095$7,587$5,093$3,370$1,202
33 years$15,222$10,507$7,084$4,684$3,050$1,045
34 years$14,613$9,958$6,619$4,310$2,761$909
35 years$14,040$9,445$6,188$3,967$2,501$791
36 years$13,500$8,965$5,789$3,654$2,266$688
37 years$12,990$8,515$5,418$3,366$2,054$599
38 years$12,509$8,092$5,074$3,103$1,862$521
39 years$12,053$7,695$4,754$2,861$1,688$454
40 years$11,621$7,321$4,456$2,639$1,531$395
41 years$11,211$6,969$4,178$2,435$1,389$344
42 years$10,822$6,637$3,919$2,247$1,261$300
43 years$10,452$6,324$3,678$2,074$1,144$261
44 years$10,099$6,028$3,452$1,915$1,039$227
45 years$9,763$5,748$3,241$1,769$943$198
46 years$9,443$5,483$3,044$1,634$856$172
47 years$9,138$5,233$2,860$1,509$777$150
48 years$8,846$4,995$2,688$1,395$706$131
49 years$8,566$4,770$2,526$1,289$641$114
50 years$8,299$4,557$2,375$1,191$582$99

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 $4,357 every year, while hoping to spend $53,352 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: 60/20/20 Blend
55$8,500,000$8,500,000$8,500,000$8,500,000
56$9,371,494$8,920,994$8,789,244$9,884,444
57$10,270,621$9,301,357$9,026,918$10,612,634
58$11,259,670$9,698,569$9,270,765$11,400,470
59$12,347,757$10,113,400$9,520,937$12,258,799
60$13,544,927$10,546,656$9,777,587$13,194,462
61$14,862,246$10,999,178$10,040,873$14,214,986
62$16,311,907$11,471,850$10,310,954$15,328,652
63$17,907,345$11,965,594$10,587,995$16,544,570
64$19,663,365$12,481,378$10,872,163$17,872,766
65$21,596,276$13,020,214$11,163,628$19,324,273
66$23,724,053$13,583,161$11,462,567$20,911,234
67$26,066,499$14,171,329$11,769,155$22,647,013
68$28,645,436$14,785,878$12,083,577$24,546,319
69$31,484,910$15,428,026$12,406,016$26,625,345
70$34,611,416$16,099,044$12,736,662$28,901,917
71$38,054,149$16,800,266$13,075,709$31,395,657
72$41,845,281$17,533,088$13,423,354$34,128,172
73$46,020,261$18,298,970$13,779,797$37,123,249
74$50,618,152$19,099,444$14,145,245$40,407,080
75$55,681,998$19,936,111$14,519,905$44,008,506
76$61,259,231$20,810,650$14,903,991$47,959,284
77$67,402,119$21,724,818$15,297,721$52,294,388
78$74,168,256$22,680,456$15,701,316$57,052,333
79$81,621,110$23,679,489$16,115,002$62,275,532
80$89,830,617$24,723,938$16,539,008$68,010,701
81$98,873,845$25,815,916$16,973,570$74,309,287
82$108,835,718$26,957,637$17,418,925$81,227,958
83$119,809,819$28,151,419$17,875,317$88,829,127
84$131,899,273$29,399,691$18,342,993$97,181,542
85$145,217,721$30,704,998$18,822,205$106,360,927
86$159,890,389$32,070,003$19,313,210$116,450,695
87$176,055,274$33,497,499$19,816,267$127,542,729
88$193,864,443$34,990,407$20,331,644$139,738,244
89$213,485,471$36,551,792$20,859,608$153,148,739
90$235,103,019$38,184,860$21,400,435$167,897,044
91$258,920,581$39,892,972$21,954,404$184,118,470
92$285,162,402$41,679,649$22,521,798$201,962,086
93$314,075,594$43,548,579$23,102,905$221,592,116
94$345,932,470$45,503,625$23,698,018$243,189,485
95$381,033,114$47,548,835$24,307,434$266,953,521
96$419,708,214$49,688,450$24,931,455$293,103,824
97$462,322,180$51,926,912$25,570,387$321,882,340
98$509,276,587$54,268,876$26,224,540$353,555,633
99$561,013,967$56,719,219$26,894,230$388,417,391
100$618,021,982$59,283,050$27,579,777$426,791,195