Can I retire at age 56 with 8,700,000?

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$718,438$712,038$705,795$699,701$693,750$676,979
2 years$355,662$349,038$342,619$336,395$330,357$313,561
3 years$234,753$228,100$221,697$215,531$209,592$193,297
4 years$174,310$167,678$161,339$155,278$149,483$133,813
5 years$138,054$131,462$125,205$119,269$113,635$98,634
6 years$113,891$107,348$101,185$95,380$89,915$75,599
7 years$96,638$90,151$84,085$78,417$73,125$59,495
8 years$83,705$77,276$71,311$65,782$60,664$47,715
9 years$73,651$67,283$61,420$56,032$51,088$38,809
10 years$65,612$59,306$53,547$48,300$43,530$31,907
11 years$59,040$52,797$47,142$42,035$37,437$26,454
12 years$53,566$47,388$41,837$36,871$32,442$22,080
13 years$48,939$42,825$37,379$32,551$28,290$18,530
14 years$44,976$38,926$33,585$28,895$24,799$15,619
15 years$41,544$35,560$30,323$25,770$21,835$13,213
16 years$38,544$32,626$27,492$23,074$19,298$11,212
17 years$35,900$30,047$25,017$20,732$17,111$9,537
18 years$33,553$27,765$22,837$18,683$15,214$8,130
19 years$31,454$25,732$20,906$16,882$13,561$6,943
20 years$29,569$23,911$19,187$15,290$12,113$5,938
21 years$27,864$22,273$17,648$13,877$10,839$5,085
22 years$26,317$20,791$16,265$12,617$9,716$4,359
23 years$24,907$19,445$15,018$11,491$8,722$3,740
24 years$23,616$18,219$13,889$10,480$7,839$3,212
25 years$22,430$17,097$12,864$9,571$7,054$2,760
26 years$21,337$16,069$11,931$8,751$6,354$2,373
27 years$20,327$15,123$11,079$8,010$5,729$2,041
28 years$19,390$14,250$10,299$7,339$5,169$1,757
29 years$18,520$13,443$9,584$6,730$4,668$1,512
30 years$17,709$12,696$8,928$6,177$4,217$1,302
31 years$16,953$12,002$8,323$5,673$3,813$1,122
32 years$16,244$11,356$7,765$5,213$3,449$966
33 years$15,580$10,754$7,251$4,794$3,121$833
34 years$14,957$10,193$6,775$4,411$2,826$718
35 years$14,370$9,668$6,334$4,061$2,560$619
36 years$13,818$9,176$5,925$3,740$2,319$533
37 years$13,296$8,715$5,546$3,446$2,102$460
38 years$12,803$8,282$5,193$3,176$1,906$397
39 years$12,336$7,876$4,866$2,928$1,728$342
40 years$11,894$7,493$4,561$2,701$1,567$295
41 years$11,475$7,133$4,276$2,492$1,422$254
42 years$11,076$6,793$4,011$2,300$1,290$219
43 years$10,697$6,472$3,764$2,123$1,171$189
44 years$10,337$6,169$3,533$1,960$1,063$163
45 years$9,993$5,883$3,318$1,810$965$141
46 years$9,665$5,612$3,116$1,672$876$122
47 years$9,353$5,356$2,927$1,545$796$105
48 years$9,054$5,113$2,751$1,428$723$90
49 years$8,768$4,883$2,586$1,319$656$78
50 years$8,494$4,664$2,431$1,219$596$67

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,700,000, adding $5,136 every year, while hoping to spend $28,472 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: 40/30/30 Blend
55$8,700,000$8,700,000$8,700,000$8,700,000
56$9,592,698$9,131,598$8,996,748$9,891,269
57$10,540,859$9,548,752$9,267,845$10,526,884
58$11,584,778$9,985,393$9,547,069$11,211,091
59$12,734,193$10,442,444$9,834,664$11,950,820
60$13,999,833$10,920,876$10,130,877$12,751,184
61$15,393,521$11,421,704$10,435,966$13,617,794
62$16,928,284$11,945,992$10,750,196$14,556,808
63$18,618,480$12,494,856$11,073,837$15,574,992
64$20,479,925$13,069,464$11,407,172$16,679,772
65$22,530,053$13,671,043$11,750,487$17,879,308
66$24,788,070$14,300,877$12,104,080$19,182,562
67$27,275,144$14,960,310$12,468,258$20,599,384
68$30,014,598$15,650,755$12,843,334$22,140,596
69$33,032,134$16,373,689$13,229,632$23,818,093
70$36,356,074$17,130,662$13,627,488$25,644,951
71$40,017,628$17,923,299$14,037,243$27,635,546
72$44,051,188$18,753,302$14,459,252$29,805,681
73$48,494,651$19,622,456$14,893,879$32,172,738
74$53,389,780$20,532,631$15,341,498$34,755,830
75$58,782,595$21,485,787$15,802,496$37,575,979
76$64,723,810$22,483,981$16,277,270$40,656,311
77$71,269,308$23,529,366$16,766,228$44,022,264
78$78,480,673$24,624,200$17,269,792$47,701,824
79$86,425,767$25,770,851$17,788,396$51,725,786
80$95,179,372$26,971,800$18,322,484$56,128,031
81$104,823,898$28,229,648$18,872,517$60,945,848
82$115,450,157$29,547,122$19,438,967$66,220,272
83$127,158,222$30,927,079$20,022,322$71,996,464
84$140,058,372$32,372,518$20,623,081$78,324,136
85$154,272,133$33,886,578$21,241,761$85,258,003
86$169,933,423$35,472,554$21,878,893$92,858,298
87$187,189,820$37,133,896$22,535,023$101,191,329
88$206,203,949$38,874,225$23,210,714$110,330,095
89$227,155,023$40,697,333$23,906,545$120,354,967
90$250,240,533$42,607,200$24,623,112$131,354,435
91$275,678,109$44,607,995$25,361,028$143,425,933
92$303,707,579$46,704,089$26,120,925$156,676,750
93$334,593,230$48,900,067$26,903,453$171,225,027
94$368,626,302$51,200,733$27,709,281$187,200,863
95$406,127,741$53,611,125$28,539,099$204,747,530
96$447,451,226$56,136,526$29,393,614$224,022,811
97$492,986,508$58,782,472$30,273,557$245,200,479
98$543,163,089$61,554,771$31,179,679$268,471,918
99$598,454,278$64,459,509$32,112,752$294,047,917
100$659,381,658$67,503,068$33,073,573$322,160,647