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%13.9%
1 years$718,438$712,038$705,795$699,701$693,750$682,538
2 years$355,662$349,038$342,619$336,395$330,357$319,092
3 years$234,753$228,100$221,697$215,531$209,592$198,625
4 years$174,310$167,678$161,339$155,278$149,483$138,898
5 years$138,054$131,462$125,205$119,269$113,635$103,462
6 years$113,891$107,348$101,185$95,380$89,915$80,167
7 years$96,638$90,151$84,085$78,417$73,125$63,804
8 years$83,705$77,276$71,311$65,782$60,664$51,769
9 years$73,651$67,283$61,420$56,032$51,088$42,613
10 years$65,612$59,306$53,547$48,300$43,530$35,469
11 years$59,040$52,797$47,142$42,035$37,437$29,781
12 years$53,566$47,388$41,837$36,871$32,442$25,182
13 years$48,939$42,825$37,379$32,551$28,290$21,415
14 years$44,976$38,926$33,585$28,895$24,799$18,298
15 years$41,544$35,560$30,323$25,770$21,835$15,695
16 years$38,544$32,626$27,492$23,074$19,298$13,507
17 years$35,900$30,047$25,017$20,732$17,111$11,656
18 years$33,553$27,765$22,837$18,683$15,214$10,083
19 years$31,454$25,732$20,906$16,882$13,561$8,739
20 years$29,569$23,911$19,187$15,290$12,113$7,587
21 years$27,864$22,273$17,648$13,877$10,839$6,597
22 years$26,317$20,791$16,265$12,617$9,716$5,743
23 years$24,907$19,445$15,018$11,491$8,722$5,005
24 years$23,616$18,219$13,889$10,480$7,839$4,366
25 years$22,430$17,097$12,864$9,571$7,054$3,812
26 years$21,337$16,069$11,931$8,751$6,354$3,330
27 years$20,327$15,123$11,079$8,010$5,729$2,912
28 years$19,390$14,250$10,299$7,339$5,169$2,547
29 years$18,520$13,443$9,584$6,730$4,668$2,229
30 years$17,709$12,696$8,928$6,177$4,217$1,951
31 years$16,953$12,002$8,323$5,673$3,813$1,709
32 years$16,244$11,356$7,765$5,213$3,449$1,497
33 years$15,580$10,754$7,251$4,794$3,121$1,312
34 years$14,957$10,193$6,775$4,411$2,826$1,150
35 years$14,370$9,668$6,334$4,061$2,560$1,008
36 years$13,818$9,176$5,925$3,740$2,319$884
37 years$13,296$8,715$5,546$3,446$2,102$775
38 years$12,803$8,282$5,193$3,176$1,906$680
39 years$12,336$7,876$4,866$2,928$1,728$596
40 years$11,894$7,493$4,561$2,701$1,567$523
41 years$11,475$7,133$4,276$2,492$1,422$459
42 years$11,076$6,793$4,011$2,300$1,290$403
43 years$10,697$6,472$3,764$2,123$1,171$353
44 years$10,337$6,169$3,533$1,960$1,063$310
45 years$9,993$5,883$3,318$1,810$965$272
46 years$9,665$5,612$3,116$1,672$876$239
47 years$9,353$5,356$2,927$1,545$796$210
48 years$9,054$5,113$2,751$1,428$723$184
49 years$8,768$4,883$2,586$1,319$656$162
50 years$8,494$4,664$2,431$1,219$596$142

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 $3,693 every year, while hoping to spend $24,357 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: 70/6/24 Blend
55$8,700,000$8,700,000$8,700,000$8,700,000
56$9,591,209$9,130,109$8,995,259$10,204,178
57$10,543,597$9,551,569$9,270,685$11,036,142
58$11,592,312$9,992,864$9,554,521$11,943,366
59$12,747,154$10,454,940$9,847,023$12,935,915
60$14,018,921$10,938,790$10,148,456$14,022,249
61$15,419,512$11,445,452$10,459,091$15,211,678
62$16,962,040$11,976,016$10,779,207$16,514,455
63$18,660,952$12,531,625$11,109,095$17,941,870
64$20,532,169$13,113,475$11,449,050$19,506,352
65$22,593,237$13,722,822$11,799,380$21,221,592
66$24,863,487$14,360,980$12,160,399$23,102,662
67$27,364,224$15,029,329$12,532,433$25,166,164
68$30,118,922$15,729,314$12,915,818$27,430,382
69$33,153,452$16,462,450$13,310,897$29,915,452
70$36,496,319$17,230,325$13,718,027$32,643,552
71$40,178,937$18,034,605$14,137,575$35,639,110
72$44,235,922$18,877,033$14,569,917$38,929,033
73$48,705,420$19,759,441$15,015,442$42,542,957
74$53,629,465$20,683,746$15,474,552$46,513,529
75$59,054,380$21,651,959$15,947,659$50,876,711
76$65,031,209$22,666,188$16,435,188$55,672,117
77$71,616,203$23,728,642$16,937,578$60,943,387
78$78,871,349$24,841,639$17,455,280$66,738,594
79$86,864,954$26,007,607$17,988,759$73,110,700
80$95,672,292$27,229,092$18,538,495$80,118,050
81$105,376,312$28,508,764$19,104,981$87,824,922
82$116,068,424$29,849,421$19,688,726$96,302,132
83$127,849,358$31,253,998$20,290,253$105,627,698
84$140,830,120$32,725,571$20,910,104$115,887,576
85$155,133,033$34,267,365$21,548,833$127,176,470
86$170,892,898$35,882,761$22,207,014$139,598,718
87$188,258,262$37,575,305$22,885,238$153,269,281
88$207,392,824$39,348,714$23,584,113$168,314,820
89$228,476,976$41,206,885$24,304,264$184,874,890
90$251,709,509$43,153,904$25,046,339$203,103,257
91$277,309,489$45,194,055$25,811,001$223,169,342
92$305,518,323$47,331,830$26,598,936$245,259,821
93$336,602,041$49,571,939$27,410,849$269,580,380
94$370,853,805$51,919,320$28,247,469$296,357,655
95$408,596,678$54,379,151$29,109,543$325,841,370
96$450,186,670$56,956,861$29,997,844$358,306,684
97$496,016,106$59,658,142$30,913,167$394,056,791
98$546,517,321$62,488,964$31,856,331$433,425,776
99$602,166,749$65,455,584$32,828,179$476,781,760
100$663,489,416$68,564,566$33,829,581$524,530,380