Can I retire at age 56 with 8,800,000?

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$726,696$720,223$713,907$707,743$701,724$674,682
2 years$359,750$353,050$346,557$340,261$334,154$307,232
3 years$237,451$230,722$224,245$218,009$212,001$186,047
4 years$176,314$169,605$163,193$157,063$151,201$126,411
5 years$139,641$132,973$126,645$120,639$114,941$91,380
6 years$115,200$108,582$102,348$96,476$90,949$68,632
7 years$97,749$91,187$85,051$79,318$73,966$52,887
8 years$84,667$78,164$72,130$66,538$61,362$41,500
9 years$74,498$68,056$62,126$56,676$51,675$33,001
10 years$66,367$59,988$54,163$48,855$44,030$26,509
11 years$59,718$53,404$47,684$42,519$37,867$21,460
12 years$54,182$47,932$42,318$37,295$32,815$17,478
13 years$49,501$43,317$37,809$32,925$28,615$14,304
14 years$45,493$39,374$33,971$29,228$25,084$11,752
15 years$42,022$35,969$30,671$26,066$22,086$9,685
16 years$38,987$33,001$27,808$23,339$19,520$8,001
17 years$36,313$30,392$25,304$20,970$17,307$6,625
18 years$33,938$28,084$23,100$18,898$15,389$5,494
19 years$31,816$26,028$21,147$17,076$13,717$4,562
20 years$29,908$24,186$19,407$15,466$12,252$3,793
21 years$28,185$22,529$17,851$14,036$10,964$3,157
22 years$26,620$21,030$16,452$12,762$9,828$2,629
23 years$25,193$19,669$15,191$11,623$8,822$2,191
24 years$23,887$18,428$14,049$10,601$7,929$1,827
25 years$22,688$17,294$13,012$9,681$7,135$1,524
26 years$21,582$16,254$12,068$8,852$6,427$1,272
27 years$20,560$15,296$11,206$8,102$5,795$1,062
28 years$19,613$14,414$10,418$7,423$5,229$887
29 years$18,733$13,598$9,695$6,807$4,721$741
30 years$17,913$12,842$9,030$6,248$4,266$619
31 years$17,147$12,140$8,419$5,738$3,857$517
32 years$16,431$11,487$7,855$5,273$3,489$432
33 years$15,760$10,878$7,334$4,849$3,157$361
34 years$15,129$10,310$6,852$4,462$2,859$302
35 years$14,536$9,779$6,407$4,107$2,589$252
36 years$13,976$9,281$5,993$3,783$2,346$211
37 years$13,449$8,815$5,609$3,485$2,126$176
38 years$12,950$8,378$5,253$3,212$1,928$147
39 years$12,478$7,966$4,922$2,962$1,748$123
40 years$12,031$7,579$4,613$2,732$1,585$103
41 years$11,607$7,215$4,325$2,521$1,438$86
42 years$11,204$6,871$4,057$2,326$1,305$72
43 years$10,820$6,547$3,807$2,147$1,185$60
44 years$10,456$6,240$3,574$1,983$1,075$50
45 years$10,108$5,951$3,356$1,831$976$42
46 years$9,777$5,677$3,152$1,691$886$35
47 years$9,460$5,417$2,961$1,563$805$29
48 years$9,158$5,172$2,783$1,444$731$25
49 years$8,869$4,939$2,615$1,335$664$21
50 years$8,592$4,718$2,459$1,233$603$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,800,000, adding $3,682 every year, while hoping to spend $45,901 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: 63/30/7 Blend
55$8,800,000$8,800,000$8,800,000$8,800,000
56$9,701,398$9,234,998$9,098,598$10,299,476
57$10,642,102$9,638,675$9,354,563$11,102,403
58$11,677,220$10,060,593$9,617,564$11,972,974
59$12,816,333$10,501,598$9,887,789$12,922,277
60$14,069,998$10,962,576$10,165,429$13,957,936
61$15,449,849$11,444,454$10,450,682$15,088,332
62$16,968,704$11,948,201$10,743,750$16,322,685
63$18,640,684$12,474,836$11,044,838$17,671,134
64$20,481,354$13,025,423$11,354,160$19,144,836
65$22,507,861$13,601,078$11,671,933$20,756,062
66$24,739,100$14,202,968$11,998,380$22,518,313
67$27,195,891$14,832,316$12,333,729$24,446,448
68$29,901,178$15,490,405$12,678,215$26,556,813
69$32,880,239$16,178,577$13,032,076$28,867,400
70$36,160,933$16,898,237$13,395,560$31,398,009
71$39,773,956$17,650,857$13,768,919$34,170,434
72$43,753,132$18,437,982$14,152,410$37,208,661
73$48,135,734$19,261,225$14,546,298$40,539,096
74$52,962,834$20,122,281$14,950,855$44,190,806
75$58,279,693$21,022,922$15,366,358$48,195,792
76$64,136,182$21,965,006$15,793,092$52,589,283
77$70,587,260$22,950,479$16,231,348$57,410,068
78$77,693,488$23,981,380$16,681,425$62,700,855
79$85,521,600$25,059,844$17,143,629$68,508,671
80$94,145,136$26,188,109$17,618,274$74,885,297
81$103,645,133$27,368,519$18,105,679$81,887,757
82$114,110,891$28,603,531$18,606,174$89,578,844
83$125,640,816$29,895,719$19,120,095$98,027,712
84$138,343,348$31,247,777$19,647,787$107,310,521
85$152,337,984$32,662,533$20,189,602$117,511,147
86$167,756,406$34,142,945$20,745,902$128,721,971
87$184,743,727$35,692,116$21,317,056$141,044,739
88$203,459,853$37,313,296$21,903,444$154,591,522
89$224,081,000$39,009,890$22,505,451$169,485,757
90$246,801,354$40,785,466$23,123,476$185,863,412
91$271,834,903$42,643,765$23,757,923$203,874,257
92$299,417,458$44,588,704$24,409,208$223,683,271
93$329,808,878$46,624,390$25,077,757$245,472,185
94$363,295,525$48,755,127$25,764,003$269,441,196
95$400,192,963$50,985,423$26,468,392$295,810,838
96$440,848,941$53,320,004$27,191,378$324,824,061
97$485,646,672$55,763,823$27,933,428$356,748,506
98$535,008,452$58,322,070$28,695,018$391,879,026
99$589,399,647$61,000,184$29,476,634$430,540,452
100$649,333,084$63,803,867$30,278,774$473,090,650