Can I retire at age 56 with 8,900,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$734,954$728,407$722,020$715,786$709,698$691,420
2 years$363,838$357,062$350,495$344,128$337,952$319,658
3 years$240,150$233,344$226,794$220,486$214,410$196,674
4 years$178,317$171,533$165,048$158,848$152,919$135,876
5 years$141,228$134,484$128,084$122,010$116,247$99,944
6 years$116,509$109,816$103,511$97,573$91,982$76,436
7 years$98,860$92,223$86,018$80,220$74,806$60,018
8 years$85,629$79,052$72,950$67,294$62,059$48,022
9 years$75,344$68,829$62,832$57,320$52,263$38,965
10 years$67,121$60,670$54,778$49,410$44,530$31,955
11 years$60,397$54,011$48,226$43,002$38,298$26,426
12 years$54,798$48,477$42,799$37,718$33,188$22,000
13 years$50,064$43,809$38,238$33,300$28,940$18,412
14 years$46,010$39,821$34,357$29,560$25,369$15,477
15 years$42,499$36,377$31,020$26,362$22,337$13,057
16 years$39,430$33,376$28,124$23,604$19,741$11,048
17 years$36,726$30,738$25,592$21,208$17,504$9,370
18 years$34,324$28,403$23,362$19,113$15,564$7,964
19 years$32,178$26,324$21,387$17,270$13,872$6,781
20 years$30,248$24,461$19,628$15,642$12,391$5,782
21 years$28,505$22,785$18,054$14,196$11,089$4,936
22 years$26,922$21,269$16,639$12,907$9,939$4,218
23 years$25,479$19,892$15,363$11,755$8,922$3,608
24 years$24,159$18,638$14,209$10,721$8,019$3,089
25 years$22,946$17,490$13,160$9,791$7,216$2,646
26 years$21,828$16,438$12,205$8,952$6,500$2,267
27 years$20,794$15,470$11,334$8,194$5,860$1,944
28 years$19,836$14,578$10,536$7,508$5,288$1,668
29 years$18,946$13,752$9,805$6,885$4,775$1,431
30 years$18,117$12,988$9,133$6,319$4,314$1,228
31 years$17,342$12,278$8,514$5,803$3,901$1,054
32 years$16,618$11,617$7,944$5,333$3,528$905
33 years$15,939$11,002$7,417$4,904$3,193$778
34 years$15,301$10,427$6,930$4,512$2,891$668
35 years$14,701$9,890$6,479$4,154$2,619$574
36 years$14,135$9,387$6,061$3,826$2,373$493
37 years$13,602$8,915$5,673$3,525$2,150$424
38 years$13,097$8,473$5,313$3,249$1,949$364
39 years$12,620$8,057$4,977$2,996$1,768$313
40 years$12,168$7,665$4,665$2,763$1,604$269
41 years$11,739$7,297$4,375$2,549$1,455$231
42 years$11,331$6,949$4,104$2,353$1,320$199
43 years$10,943$6,621$3,851$2,172$1,198$171
44 years$10,574$6,311$3,614$2,005$1,087$147
45 years$10,223$6,018$3,394$1,852$987$126
46 years$9,888$5,741$3,188$1,711$896$109
47 years$9,568$5,479$2,995$1,580$814$93
48 years$9,262$5,230$2,814$1,460$739$80
49 years$8,969$4,995$2,645$1,350$671$69
50 years$8,690$4,771$2,487$1,248$610$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,900,000, adding $5,091 every year, while hoping to spend $53,095 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: 30/41/29 Blend
55$8,900,000$8,900,000$8,900,000$8,900,000
56$9,813,051$9,341,351$9,203,401$10,019,897
57$10,757,490$9,742,585$9,455,223$10,583,899
58$11,796,482$10,161,699$9,713,700$11,185,224
59$12,939,615$10,599,515$9,979,002$11,831,069
60$14,197,455$11,056,890$10,251,297$12,525,349
61$15,581,641$11,534,723$10,530,761$13,272,350
62$17,104,999$12,033,956$10,817,573$14,076,771
63$18,781,663$12,555,573$11,111,915$14,943,762
64$20,627,202$13,100,606$11,413,974$15,878,972
65$22,658,775$13,670,134$11,723,941$16,888,594
66$24,895,289$14,265,289$12,042,011$17,979,423
67$27,357,574$14,887,254$12,368,384$19,158,916
68$30,068,585$15,537,269$12,703,264$20,435,257
69$33,053,617$16,216,631$13,046,859$21,817,427
70$36,340,540$16,926,700$13,399,383$23,315,290
71$39,960,066$17,668,899$13,761,054$24,939,677
72$43,946,037$18,444,719$14,132,093$26,702,483
73$48,335,743$19,255,721$14,512,728$28,616,777
74$53,170,276$20,103,538$14,903,192$30,696,916
75$58,494,917$20,989,884$15,303,721$32,958,677
76$64,359,561$21,916,551$15,714,559$35,419,401
77$70,819,191$22,885,417$16,135,951$38,098,145
78$77,934,394$23,898,448$16,568,151$41,015,863
79$85,771,935$24,957,704$17,011,417$44,195,589
80$94,405,384$26,065,344$17,466,011$47,662,653
81$103,915,814$27,223,626$17,932,203$51,444,911
82$114,392,561$28,434,918$18,410,266$55,572,997
83$125,934,073$29,701,700$18,900,480$60,080,609
84$138,648,833$31,026,567$19,403,131$65,004,814
85$152,656,387$32,412,243$19,918,509$70,386,391
86$168,088,471$33,861,575$20,446,912$76,270,208
87$185,090,254$35,377,551$20,988,642$82,705,632
88$203,821,706$36,963,297$21,544,008$89,746,988
89$224,459,112$38,622,091$22,113,324$97,454,059
90$247,196,733$40,357,365$22,696,912$105,892,640
91$272,248,639$42,172,715$23,295,098$115,135,148
92$299,850,731$44,071,909$23,908,215$125,261,293
93$330,262,968$46,058,895$24,536,602$136,358,817
94$363,771,817$48,137,808$25,180,605$148,524,308
95$400,692,964$50,312,981$25,840,577$161,864,101
96$441,374,284$52,588,956$26,516,874$176,495,266
97$486,199,135$54,970,488$27,209,863$192,546,694
98$535,589,967$57,462,562$27,919,914$210,160,304
99$590,012,318$60,070,402$28,647,405$229,492,362
100$649,979,202$62,799,479$29,392,721$250,714,941