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%18.3%
1 years$726,696$720,223$713,907$707,743$701,724$678,176
2 years$359,750$353,050$346,557$340,261$334,154$310,663
3 years$237,451$230,722$224,245$218,009$212,001$189,303
4 years$176,314$169,605$163,193$157,063$151,201$129,470
5 years$139,641$132,973$126,645$120,639$114,941$94,235
6 years$115,200$108,582$102,348$96,476$90,949$71,285
7 years$97,749$91,187$85,051$79,318$73,966$55,340
8 years$84,667$78,164$72,130$66,538$61,362$43,761
9 years$74,498$68,056$62,126$56,676$51,675$35,078
10 years$66,367$59,988$54,163$48,855$44,030$28,410
11 years$59,718$53,404$47,684$42,519$37,867$23,194
12 years$54,182$47,932$42,318$37,295$32,815$19,055
13 years$49,501$43,317$37,809$32,925$28,615$15,734
14 years$45,493$39,374$33,971$29,228$25,084$13,044
15 years$42,022$35,969$30,671$26,066$22,086$10,850
16 years$38,987$33,001$27,808$23,339$19,520$9,049
17 years$36,313$30,392$25,304$20,970$17,307$7,564
18 years$33,938$28,084$23,100$18,898$15,389$6,334
19 years$31,816$26,028$21,147$17,076$13,717$5,312
20 years$29,908$24,186$19,407$15,466$12,252$4,461
21 years$28,185$22,529$17,851$14,036$10,964$3,750
22 years$26,620$21,030$16,452$12,762$9,828$3,155
23 years$25,193$19,669$15,191$11,623$8,822$2,657
24 years$23,887$18,428$14,049$10,601$7,929$2,238
25 years$22,688$17,294$13,012$9,681$7,135$1,887
26 years$21,582$16,254$12,068$8,852$6,427$1,591
27 years$20,560$15,296$11,206$8,102$5,795$1,342
28 years$19,613$14,414$10,418$7,423$5,229$1,133
29 years$18,733$13,598$9,695$6,807$4,721$956
30 years$17,913$12,842$9,030$6,248$4,266$807
31 years$17,147$12,140$8,419$5,738$3,857$682
32 years$16,431$11,487$7,855$5,273$3,489$576
33 years$15,760$10,878$7,334$4,849$3,157$486
34 years$15,129$10,310$6,852$4,462$2,859$411
35 years$14,536$9,779$6,407$4,107$2,589$347
36 years$13,976$9,281$5,993$3,783$2,346$293
37 years$13,449$8,815$5,609$3,485$2,126$248
38 years$12,950$8,378$5,253$3,212$1,928$209
39 years$12,478$7,966$4,922$2,962$1,748$177
40 years$12,031$7,579$4,613$2,732$1,585$150
41 years$11,607$7,215$4,325$2,521$1,438$126
42 years$11,204$6,871$4,057$2,326$1,305$107
43 years$10,820$6,547$3,807$2,147$1,185$90
44 years$10,456$6,240$3,574$1,983$1,075$76
45 years$10,108$5,951$3,356$1,831$976$65
46 years$9,777$5,677$3,152$1,691$886$55
47 years$9,460$5,417$2,961$1,563$805$46
48 years$9,158$5,172$2,783$1,444$731$39
49 years$8,869$4,939$2,615$1,335$664$33
50 years$8,592$4,718$2,459$1,233$603$28

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 $5,705 every year, while hoping to spend $22,204 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: 29/41/30 Blend
55$8,800,000$8,800,000$8,800,000$8,800,000
56$9,703,485$9,237,085$9,100,685$9,895,133
57$10,669,615$9,666,077$9,381,933$10,477,358
58$11,733,547$10,115,346$9,671,858$11,100,531
59$12,905,232$10,585,861$9,970,729$11,770,053
60$14,195,637$11,078,640$10,278,820$12,489,950
61$15,616,847$11,594,748$10,596,415$13,264,633
62$17,182,178$12,135,303$10,923,807$14,098,927
63$18,906,303$12,701,476$11,261,298$14,998,119
64$20,805,393$13,294,495$11,609,199$15,968,002
65$22,897,265$13,915,647$11,967,829$17,014,922
66$25,201,555$14,566,283$12,337,520$18,145,838
67$27,739,898$15,247,815$12,718,611$19,368,379
68$30,536,137$15,961,728$13,111,455$20,690,909
69$33,616,547$16,709,576$13,516,412$22,122,608
70$37,010,078$17,492,989$13,933,855$23,673,543
71$40,748,636$18,313,675$14,364,169$25,354,766
72$44,867,377$19,173,426$14,807,749$27,178,404
73$49,405,046$20,074,120$15,265,005$29,157,775
74$54,404,334$21,017,725$15,736,356$31,307,498
75$59,912,289$22,006,306$16,222,237$33,643,632
76$65,980,755$23,042,028$16,723,094$36,183,814
77$72,666,862$24,127,158$17,239,388$38,947,421
78$80,033,569$25,264,075$17,771,595$41,955,743
79$88,150,253$26,455,274$18,320,203$45,232,177
80$97,093,366$27,703,370$18,885,717$48,802,436
81$106,947,157$29,011,104$19,468,657$52,694,785
82$117,804,470$30,381,350$20,069,559$56,940,297
83$129,767,612$31,817,122$20,688,975$61,573,136
84$142,949,327$33,321,580$21,327,475$66,630,868
85$157,473,859$34,898,038$21,985,646$72,154,804
86$173,478,119$36,549,968$22,664,091$78,190,383
87$191,112,984$38,281,014$23,363,436$84,787,579
88$210,544,719$40,094,994$24,084,321$92,001,371
89$231,956,544$41,995,913$24,827,410$99,892,239
90$255,550,368$43,987,969$25,593,384$108,526,727
91$281,548,691$46,075,565$26,382,948$117,978,053
92$310,196,706$48,263,316$27,196,826$128,326,786
93$341,764,616$50,556,065$28,035,765$139,661,592
94$376,550,180$52,958,885$28,900,536$152,080,049
95$414,881,527$55,477,098$29,791,933$165,689,557
96$457,120,253$58,116,286$30,710,772$180,608,328
97$503,664,834$60,882,300$31,657,899$196,966,486
98$554,954,390$63,781,275$32,634,181$214,907,272
99$611,472,826$66,819,646$33,640,515$234,588,379
100$673,753,405$70,004,160$34,677,823$256,183,415