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%14.4%
1 years$726,696$720,223$713,907$707,743$701,724$688,966
2 years$359,750$353,050$346,557$340,261$334,154$321,346
3 years$237,451$230,722$224,245$218,009$212,001$199,542
4 years$176,314$169,605$163,193$157,063$151,201$139,187
5 years$139,641$132,973$126,645$120,639$114,941$103,406
6 years$115,200$108,582$102,348$96,476$90,949$79,906
7 years$97,749$91,187$85,051$79,318$73,966$63,419
8 years$84,667$78,164$72,130$66,538$61,362$51,308
9 years$74,498$68,056$62,126$56,676$51,675$42,108
10 years$66,367$59,988$54,163$48,855$44,030$34,941
11 years$59,718$53,404$47,684$42,519$37,867$29,246
12 years$54,182$47,932$42,318$37,295$32,815$24,650
13 years$49,501$43,317$37,809$32,925$28,615$20,894
14 years$45,493$39,374$33,971$29,228$25,084$17,792
15 years$42,022$35,969$30,671$26,066$22,086$15,209
16 years$38,987$33,001$27,808$23,339$19,520$13,043
17 years$36,313$30,392$25,304$20,970$17,307$11,216
18 years$33,938$28,084$23,100$18,898$15,389$9,667
19 years$31,816$26,028$21,147$17,076$13,717$8,347
20 years$29,908$24,186$19,407$15,466$12,252$7,220
21 years$28,185$22,529$17,851$14,036$10,964$6,254
22 years$26,620$21,030$16,452$12,762$9,828$5,424
23 years$25,193$19,669$15,191$11,623$8,822$4,709
24 years$23,887$18,428$14,049$10,601$7,929$4,092
25 years$22,688$17,294$13,012$9,681$7,135$3,558
26 years$21,582$16,254$12,068$8,852$6,427$3,096
27 years$20,560$15,296$11,206$8,102$5,795$2,696
28 years$19,613$14,414$10,418$7,423$5,229$2,349
29 years$18,733$13,598$9,695$6,807$4,721$2,047
30 years$17,913$12,842$9,030$6,248$4,266$1,785
31 years$17,147$12,140$8,419$5,738$3,857$1,556
32 years$16,431$11,487$7,855$5,273$3,489$1,358
33 years$15,760$10,878$7,334$4,849$3,157$1,185
34 years$15,129$10,310$6,852$4,462$2,859$1,034
35 years$14,536$9,779$6,407$4,107$2,589$903
36 years$13,976$9,281$5,993$3,783$2,346$788
37 years$13,449$8,815$5,609$3,485$2,126$688
38 years$12,950$8,378$5,253$3,212$1,928$601
39 years$12,478$7,966$4,922$2,962$1,748$525
40 years$12,031$7,579$4,613$2,732$1,585$459
41 years$11,607$7,215$4,325$2,521$1,438$401
42 years$11,204$6,871$4,057$2,326$1,305$350
43 years$10,820$6,547$3,807$2,147$1,185$306
44 years$10,456$6,240$3,574$1,983$1,075$267
45 years$10,108$5,951$3,356$1,831$976$234
46 years$9,777$5,677$3,152$1,691$886$204
47 years$9,460$5,417$2,961$1,563$805$178
48 years$9,158$5,172$2,783$1,444$731$156
49 years$8,869$4,939$2,615$1,335$664$136
50 years$8,592$4,718$2,459$1,233$603$119

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 $6,208 every year, while hoping to spend $30,988 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: 64/26/10 Blend
55$8,800,000$8,800,000$8,800,000$8,800,000
56$9,704,004$9,237,604$9,101,204$10,303,592
57$10,660,841$9,657,275$9,373,123$11,124,198
58$11,714,237$10,096,472$9,653,113$12,015,946
59$12,874,008$10,556,118$9,941,411$12,989,156
60$14,150,971$11,037,182$10,238,263$14,051,747
61$15,557,045$11,540,678$10,543,919$15,212,428
62$17,105,362$12,067,670$10,858,638$16,480,779
63$18,810,394$12,619,271$11,182,688$17,867,337
64$20,688,089$13,196,650$11,516,343$19,383,697
65$22,756,018$13,801,031$11,859,885$21,042,615
66$25,033,545$14,433,694$12,213,604$22,858,127
67$27,542,007$15,095,985$12,577,800$24,845,680
68$30,304,916$15,789,313$12,952,780$27,022,272
69$33,348,181$16,515,152$13,338,862$29,406,611
70$36,700,351$17,275,051$13,736,370$32,019,290
71$40,392,889$18,070,630$14,145,640$34,882,974
72$44,460,462$18,903,590$14,567,018$38,022,613
73$48,941,274$19,775,711$15,000,858$41,465,675
74$53,877,423$20,688,859$15,447,525$45,242,396
75$59,315,300$21,644,993$15,907,397$49,386,068
76$65,306,025$22,646,162$16,380,859$53,933,345
77$71,905,931$23,694,516$16,868,310$58,924,586
78$79,177,097$24,792,308$17,370,159$64,404,229
79$87,187,930$25,941,900$17,886,828$70,421,209
80$96,013,813$27,145,767$18,418,751$77,029,411
81$105,737,816$28,406,504$18,966,374$84,288,179
82$116,451,482$29,726,831$19,530,156$92,262,864
83$128,255,686$31,109,599$20,110,569$101,025,439
84$141,261,593$32,557,796$20,708,100$110,655,170
85$155,591,703$34,074,556$21,323,249$121,239,362
86$171,381,009$35,663,161$21,956,530$132,874,171
87$188,778,272$37,327,056$22,608,473$145,665,509
88$207,947,421$39,069,848$23,279,623$159,730,034
89$229,069,108$40,895,320$23,970,540$175,196,243
90$252,342,405$42,807,438$24,681,801$192,205,682
91$277,986,688$44,810,360$25,413,999$210,914,267
92$306,243,706$46,908,444$26,167,744$231,493,750
93$337,379,865$49,106,259$26,943,665$254,133,334
94$371,688,741$51,408,595$27,742,407$279,041,445
95$409,493,850$53,820,474$28,564,635$306,447,691
96$451,151,705$56,347,159$29,411,032$336,605,021
97$497,055,179$58,994,171$30,282,303$369,792,099
98$547,637,218$61,767,295$31,179,170$406,315,924
99$603,374,920$64,672,598$32,102,378$446,514,718
100$664,794,047$67,716,441$33,052,693$490,761,104