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

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$718,438$712,038$705,795$699,701$693,750$684,231
2 years$355,662$349,038$342,619$336,395$330,357$320,783
3 years$234,753$228,100$221,697$215,531$209,592$200,261
4 years$174,310$167,678$161,339$155,278$149,483$140,467
5 years$138,054$131,462$125,205$119,269$113,635$104,960
6 years$113,891$107,348$101,185$95,380$89,915$81,592
7 years$96,638$90,151$84,085$78,417$73,125$65,157
8 years$83,705$77,276$71,311$65,782$60,664$53,049
9 years$73,651$67,283$61,420$56,032$51,088$43,823
10 years$65,612$59,306$53,547$48,300$43,530$36,609
11 years$59,040$52,797$47,142$42,035$37,437$30,855
12 years$53,566$47,388$41,837$36,871$32,442$26,190
13 years$48,939$42,825$37,379$32,551$28,290$22,361
14 years$44,976$38,926$33,585$28,895$24,799$19,182
15 years$41,544$35,560$30,323$25,770$21,835$16,522
16 years$38,544$32,626$27,492$23,074$19,298$14,278
17 years$35,900$30,047$25,017$20,732$17,111$12,374
18 years$33,553$27,765$22,837$18,683$15,214$10,750
19 years$31,454$25,732$20,906$16,882$13,561$9,358
20 years$29,569$23,911$19,187$15,290$12,113$8,161
21 years$27,864$22,273$17,648$13,877$10,839$7,128
22 years$26,317$20,791$16,265$12,617$9,716$6,234
23 years$24,907$19,445$15,018$11,491$8,722$5,458
24 years$23,616$18,219$13,889$10,480$7,839$4,784
25 years$22,430$17,097$12,864$9,571$7,054$4,196
26 years$21,337$16,069$11,931$8,751$6,354$3,684
27 years$20,327$15,123$11,079$8,010$5,729$3,236
28 years$19,390$14,250$10,299$7,339$5,169$2,844
29 years$18,520$13,443$9,584$6,730$4,668$2,501
30 years$17,709$12,696$8,928$6,177$4,217$2,201
31 years$16,953$12,002$8,323$5,673$3,813$1,937
32 years$16,244$11,356$7,765$5,213$3,449$1,705
33 years$15,580$10,754$7,251$4,794$3,121$1,502
34 years$14,957$10,193$6,775$4,411$2,826$1,323
35 years$14,370$9,668$6,334$4,061$2,560$1,166
36 years$13,818$9,176$5,925$3,740$2,319$1,027
37 years$13,296$8,715$5,546$3,446$2,102$905
38 years$12,803$8,282$5,193$3,176$1,906$798
39 years$12,336$7,876$4,866$2,928$1,728$704
40 years$11,894$7,493$4,561$2,701$1,567$621
41 years$11,475$7,133$4,276$2,492$1,422$547
42 years$11,076$6,793$4,011$2,300$1,290$483
43 years$10,697$6,472$3,764$2,123$1,171$426
44 years$10,337$6,169$3,533$1,960$1,063$376
45 years$9,993$5,883$3,318$1,810$965$331
46 years$9,665$5,612$3,116$1,672$876$292
47 years$9,353$5,356$2,927$1,545$796$258
48 years$9,054$5,113$2,751$1,428$723$228
49 years$8,768$4,883$2,586$1,319$656$201
50 years$8,494$4,664$2,431$1,219$596$177

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 $6,416 every year, while hoping to spend $22,776 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: 31/46/23 Blend
55$8,700,000$8,700,000$8,700,000$8,700,000
56$9,594,018$9,132,918$8,998,068$9,822,983
57$10,548,374$9,556,198$9,275,270$10,421,061
58$11,599,312$9,999,454$9,560,995$11,061,936
59$12,756,657$10,463,643$9,855,504$11,751,353
60$14,031,240$10,949,766$10,159,067$12,493,558
61$15,434,992$11,458,870$10,471,961$13,293,200
62$16,981,063$11,992,056$10,794,473$14,155,368
63$18,683,942$12,550,477$11,126,898$15,085,641
64$20,559,594$13,135,341$11,469,540$16,090,126
65$22,625,615$13,747,915$11,822,712$17,175,521
66$24,901,392$14,389,527$12,186,737$18,349,166
67$27,408,289$15,061,568$12,561,947$19,619,111
68$30,169,848$15,765,499$12,948,687$20,994,184
69$33,212,013$16,502,849$13,347,308$22,484,069
70$36,563,371$17,275,221$13,758,175$24,099,395
71$40,255,425$18,084,297$14,181,664$25,851,822
72$44,322,890$18,931,839$14,618,162$27,754,153
73$48,804,021$19,819,696$15,068,066$29,820,443
74$53,740,974$20,749,803$15,531,789$32,066,126
75$59,180,202$21,724,193$16,009,753$34,508,151
76$65,172,898$22,744,994$16,502,395$37,165,139
77$71,775,472$23,814,437$17,010,164$40,057,544
78$79,050,090$24,934,864$17,533,524$43,207,843
79$87,065,255$26,108,728$18,072,953$46,640,735
80$95,896,456$27,338,601$18,628,942$50,383,368
81$105,626,882$28,627,180$19,201,999$54,465,582
82$116,348,204$29,977,292$19,792,647$58,920,183
83$128,161,444$31,391,902$20,401,423$63,783,239
84$141,177,925$32,874,119$21,028,884$69,094,415
85$155,520,323$34,427,200$21,675,601$74,897,326
86$171,323,826$36,054,564$22,342,165$81,239,944
87$188,737,411$37,759,791$23,029,181$88,175,037
88$207,925,245$39,546,640$23,737,277$95,760,648
89$229,068,242$41,419,047$24,467,098$104,060,636
90$252,365,766$43,381,143$25,219,309$113,145,257
91$278,037,512$45,437,258$25,994,594$123,091,817
92$306,325,585$47,591,930$26,793,660$133,985,382
93$337,496,782$49,849,922$27,617,235$145,919,566
94$371,845,109$52,216,224$28,466,067$158,997,392
95$409,694,561$54,696,069$29,340,931$173,332,255
96$451,402,176$57,294,947$30,242,623$189,048,963
97$497,361,410$60,018,610$31,171,962$206,284,900
98$548,005,846$62,873,094$32,129,795$225,191,300
99$603,813,291$65,864,726$33,116,992$245,934,651
100$665,310,288$69,000,138$34,134,453$268,698,247