Can I retire at age 56 with 9,700,000?

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 $9,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$801,017$793,882$786,921$780,126$773,492$746,344
2 years$396,543$389,158$382,000$375,061$368,329$341,264
3 years$261,736$254,319$247,180$240,305$233,683$207,550
4 years$194,346$186,951$179,883$173,126$166,665$141,664
5 years$153,922$146,572$139,597$132,978$126,696$102,893
6 years$126,982$119,687$112,815$106,343$100,250$77,663
7 years$107,746$100,513$93,750$87,431$81,530$60,155
8 years$93,326$86,158$79,507$73,343$67,637$47,456
9 years$82,117$75,016$68,480$62,472$56,960$37,947
10 years$73,154$66,123$59,702$53,852$48,533$30,655
11 years$65,826$58,866$52,561$46,867$41,740$24,962
12 years$59,723$52,835$46,646$41,109$36,171$20,453
13 years$54,564$47,747$41,675$36,293$31,542$16,842
14 years$50,145$43,401$37,446$32,217$27,649$13,924
15 years$46,319$39,647$33,808$28,732$24,345$11,549
16 years$42,975$36,376$30,652$25,726$21,516$9,604
17 years$40,027$33,501$27,892$23,115$19,078$8,005
18 years$37,409$30,956$25,462$20,831$16,963$6,683
19 years$35,070$28,690$23,309$18,823$15,119$5,588
20 years$32,967$26,660$21,392$17,047$13,505$4,678
21 years$31,067$24,833$19,677$15,472$12,085$3,921
22 years$29,342$23,180$18,135$14,067$10,833$3,288
23 years$27,770$21,680$16,744$12,811$9,724$2,760
24 years$26,330$20,313$15,486$11,685$8,740$2,318
25 years$25,008$19,063$14,343$10,671$7,865$1,948
26 years$23,790$17,916$13,302$9,757$7,084$1,637
27 years$22,663$16,861$12,352$8,931$6,387$1,377
28 years$21,619$15,888$11,483$8,183$5,763$1,158
29 years$20,649$14,988$10,686$7,504$5,204$974
30 years$19,745$14,155$9,954$6,887$4,702$820
31 years$18,901$13,381$9,280$6,325$4,251$690
32 years$18,111$12,661$8,658$5,813$3,846$581
33 years$17,371$11,990$8,084$5,345$3,480$489
34 years$16,676$11,364$7,553$4,918$3,151$412
35 years$16,022$10,779$7,062$4,527$2,854$347
36 years$15,406$10,231$6,606$4,170$2,586$292
37 years$14,824$9,717$6,183$3,842$2,344$246
38 years$14,275$9,234$5,790$3,541$2,125$207
39 years$13,754$8,781$5,425$3,265$1,927$174
40 years$13,261$8,354$5,085$3,011$1,748$147
41 years$12,794$7,953$4,768$2,778$1,586$124
42 years$12,350$7,574$4,472$2,564$1,439$104
43 years$11,927$7,216$4,197$2,367$1,306$88
44 years$11,525$6,879$3,939$2,186$1,185$74
45 years$11,142$6,559$3,699$2,018$1,076$62
46 years$10,776$6,257$3,474$1,864$977$53
47 years$10,428$5,971$3,264$1,723$887$44
48 years$10,094$5,701$3,067$1,592$806$37
49 years$9,776$5,444$2,883$1,471$732$31
50 years$9,471$5,200$2,710$1,360$665$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $9,700,000, adding $4,651 every year, while hoping to spend $47,202 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: 62/28/10 Blend
55$9,700,000$9,700,000$9,700,000$9,700,000
56$10,694,198$10,180,098$10,029,748$11,332,991
57$11,734,783$10,628,700$10,315,521$12,209,677
58$12,879,926$11,097,701$10,609,287$13,160,328
59$14,140,242$11,588,052$10,911,262$14,196,792
60$15,527,428$12,100,747$11,221,669$15,327,377
61$17,054,369$12,636,828$11,540,739$16,561,218
62$18,735,268$13,197,386$11,868,707$17,908,361
63$20,585,771$13,783,563$12,205,814$19,379,860
64$22,623,120$14,396,558$12,552,309$20,987,870
65$24,866,313$15,037,624$12,908,446$22,745,767
66$27,336,284$15,708,075$13,274,486$24,668,268
67$30,056,100$16,409,286$13,650,697$26,771,565
68$33,051,181$17,142,699$14,037,354$29,073,476
69$36,349,534$17,909,825$14,434,739$31,593,612
70$39,982,025$18,712,244$14,843,140$34,353,554
71$43,982,662$19,551,614$15,262,856$37,377,057
72$48,388,921$20,429,672$15,694,190$40,690,267
73$53,242,100$21,348,234$16,137,454$44,321,967
74$58,587,705$22,309,209$16,592,969$48,303,841
75$64,475,881$23,314,590$17,061,064$52,670,772
76$70,961,886$24,366,470$17,542,075$57,461,163
77$78,106,613$25,467,041$18,036,348$62,717,298
78$85,977,159$26,618,598$18,544,238$68,485,732
79$94,647,467$27,823,547$19,066,107$74,817,729
80$104,199,016$29,084,408$19,602,330$81,769,740
81$114,721,595$30,403,824$20,153,287$89,403,926
82$126,314,147$31,784,560$20,719,371$97,788,743
83$139,085,704$33,229,517$21,300,984$106,999,580
84$153,156,416$34,741,734$21,898,537$117,119,464
85$168,658,686$36,324,395$22,512,454$128,239,836
86$185,738,417$37,980,836$23,143,167$140,461,408
87$204,556,393$39,714,553$23,791,120$153,895,108
88$225,289,790$41,529,212$24,456,767$168,663,113
89$248,133,857$43,428,651$25,140,577$184,900,000
90$273,303,750$45,416,895$25,843,026$202,754,005
91$301,036,570$47,498,160$26,564,605$222,388,415
92$331,593,596$49,676,866$27,305,815$243,983,096
93$365,262,755$51,957,645$28,067,172$267,736,185
94$402,361,336$54,345,350$28,849,203$293,865,947
95$443,238,989$56,845,068$29,652,448$322,612,828
96$488,281,021$59,462,132$30,477,460$354,241,708
97$537,912,038$62,202,129$31,324,808$389,044,395
98$592,599,949$65,070,916$32,195,071$427,342,364
99$652,860,384$68,074,632$33,088,847$469,489,780
100$719,261,564$71,219,709$34,006,744$515,876,827