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%14.9%
1 years$726,696$720,223$713,907$707,743$701,724$687,556
2 years$359,750$353,050$346,557$340,261$334,154$319,942
3 years$237,451$230,722$224,245$218,009$212,001$198,189
4 years$176,314$169,605$163,193$157,063$151,201$137,894
5 years$139,641$132,973$126,645$120,639$114,941$102,177
6 years$115,200$108,582$102,348$96,476$90,949$78,743
7 years$97,749$91,187$85,051$79,318$73,966$62,320
8 years$84,667$78,164$72,130$66,538$61,362$50,273
9 years$74,498$68,056$62,126$56,676$51,675$41,136
10 years$66,367$59,988$54,163$48,855$44,030$34,029
11 years$59,718$53,404$47,684$42,519$37,867$28,393
12 years$54,182$47,932$42,318$37,295$32,815$23,854
13 years$49,501$43,317$37,809$32,925$28,615$20,152
14 years$45,493$39,374$33,971$29,228$25,084$17,103
15 years$42,022$35,969$30,671$26,066$22,086$14,569
16 years$38,987$33,001$27,808$23,339$19,520$12,450
17 years$36,313$30,392$25,304$20,970$17,307$10,668
18 years$33,938$28,084$23,100$18,898$15,389$9,161
19 years$31,816$26,028$21,147$17,076$13,717$7,881
20 years$29,908$24,186$19,407$15,466$12,252$6,792
21 years$28,185$22,529$17,851$14,036$10,964$5,860
22 years$26,620$21,030$16,452$12,762$9,828$5,063
23 years$25,193$19,669$15,191$11,623$8,822$4,378
24 years$23,887$18,428$14,049$10,601$7,929$3,790
25 years$22,688$17,294$13,012$9,681$7,135$3,282
26 years$21,582$16,254$12,068$8,852$6,427$2,845
27 years$20,560$15,296$11,206$8,102$5,795$2,467
28 years$19,613$14,414$10,418$7,423$5,229$2,140
29 years$18,733$13,598$9,695$6,807$4,721$1,858
30 years$17,913$12,842$9,030$6,248$4,266$1,613
31 years$17,147$12,140$8,419$5,738$3,857$1,401
32 years$16,431$11,487$7,855$5,273$3,489$1,217
33 years$15,760$10,878$7,334$4,849$3,157$1,058
34 years$15,129$10,310$6,852$4,462$2,859$919
35 years$14,536$9,779$6,407$4,107$2,589$799
36 years$13,976$9,281$5,993$3,783$2,346$695
37 years$13,449$8,815$5,609$3,485$2,126$604
38 years$12,950$8,378$5,253$3,212$1,928$525
39 years$12,478$7,966$4,922$2,962$1,748$457
40 years$12,031$7,579$4,613$2,732$1,585$398
41 years$11,607$7,215$4,325$2,521$1,438$346
42 years$11,204$6,871$4,057$2,326$1,305$301
43 years$10,820$6,547$3,807$2,147$1,185$262
44 years$10,456$6,240$3,574$1,983$1,075$228
45 years$10,108$5,951$3,356$1,831$976$198
46 years$9,777$5,677$3,152$1,691$886$172
47 years$9,460$5,417$2,961$1,563$805$150
48 years$9,158$5,172$2,783$1,444$731$131
49 years$8,869$4,939$2,615$1,335$664$114
50 years$8,592$4,718$2,459$1,233$603$99

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 $2,484 every year, while hoping to spend $22,800 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$9,700,162$9,233,762$9,097,362$10,298,240
57$10,665,320$9,661,958$9,377,865$11,125,537
58$11,728,159$10,110,370$9,667,000$12,025,519
59$12,898,620$10,579,967$9,965,033$13,007,530
60$14,187,655$11,071,761$10,272,237$14,079,514
61$15,607,332$11,586,814$10,588,894$15,250,203
62$17,170,952$12,126,240$10,915,294$16,529,203
63$18,893,169$12,691,205$11,251,736$17,927,076
64$20,790,131$13,282,933$11,598,528$19,455,441
65$22,879,634$13,902,706$11,955,988$21,127,080
66$25,181,287$14,551,869$12,324,444$22,956,053
67$27,716,698$15,231,831$12,704,233$24,957,829
68$30,509,679$15,944,068$13,095,702$27,149,431
69$33,586,469$16,690,131$13,499,212$29,549,588
70$36,975,984$17,471,642$13,915,130$32,178,914
71$40,710,085$18,290,303$14,343,837$35,060,091
72$44,823,885$19,147,899$14,785,727$38,218,088
73$49,356,075$20,046,300$15,241,203$41,680,384
74$54,349,294$20,987,468$15,710,683$45,477,228
75$59,850,526$21,973,459$16,194,595$49,641,919
76$65,911,549$23,006,427$16,693,383$54,211,113
77$72,589,419$24,088,634$17,207,503$59,225,167
78$79,947,010$25,222,447$17,737,425$64,728,512
79$88,053,610$26,410,352$18,283,634$70,770,069
80$96,985,571$27,654,952$18,846,628$77,403,701
81$106,827,033$28,958,979$19,426,924$84,688,720
82$117,670,716$30,325,294$20,025,051$92,690,436
83$129,618,795$31,756,899$20,641,556$101,480,771
84$142,783,866$33,256,941$21,277,003$111,138,928
85$157,290,009$34,828,720$21,931,971$121,752,129
86$173,273,958$36,475,695$22,607,060$133,416,435
87$190,886,391$38,201,494$23,302,886$146,237,644
88$210,293,355$40,009,919$24,020,084$160,332,277
89$231,677,830$41,904,958$24,759,310$175,828,674
90$255,241,460$43,890,792$25,521,238$192,868,191
91$281,206,454$45,971,806$26,306,565$211,606,530
92$309,817,684$48,152,596$27,116,006$232,215,195
93$341,344,997$50,437,982$27,950,302$254,883,099
94$376,085,761$52,833,019$28,810,212$279,818,340
95$414,367,677$55,343,004$29,696,522$307,250,151
96$456,551,864$57,973,496$30,610,040$337,431,051
97$503,036,278$60,730,320$31,551,599$370,639,218
98$554,259,459$63,619,587$32,522,059$407,181,099
99$610,704,679$66,647,702$33,522,303$447,394,289
100$672,904,501$69,821,384$34,553,245$491,650,707