Can I retire at age 56 with 9,800,000?

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 $9,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$809,275$802,066$795,033$788,169$781,466$754,941
2 years$400,631$393,170$385,938$378,927$372,127$345,669
3 years$264,434$256,941$249,728$242,782$236,092$210,533
4 years$196,349$188,879$181,738$174,911$168,383$143,917
5 years$155,509$148,083$141,036$134,348$128,002$104,695
6 years$128,291$120,921$113,978$107,440$101,284$79,154
7 years$108,857$101,549$94,716$88,332$82,371$61,414
8 years$94,288$87,047$80,327$74,099$68,335$48,535
9 years$82,963$75,790$69,186$63,116$57,548$38,882
10 years$73,908$66,805$60,318$54,407$49,033$31,470
11 years$66,505$59,472$53,103$47,350$42,170$25,676
12 years$60,339$53,379$47,127$41,533$36,544$21,080
13 years$55,126$48,239$42,105$36,667$31,867$17,394
14 years$50,662$43,848$37,832$32,549$27,934$14,410
15 years$46,797$40,056$34,157$29,028$24,596$11,978
16 years$43,418$36,751$30,968$25,991$21,738$9,983
17 years$40,439$33,846$28,180$23,353$19,274$8,338
18 years$37,795$31,275$25,725$21,046$17,138$6,977
19 years$35,431$28,986$23,550$19,017$15,275$5,847
20 years$33,307$26,935$21,613$17,223$13,644$4,907
21 years$31,388$25,089$19,879$15,631$12,210$4,121
22 years$29,645$23,419$18,322$14,212$10,944$3,465
23 years$28,056$21,904$16,917$12,943$9,824$2,915
24 years$26,602$20,522$15,645$11,805$8,830$2,454
25 years$25,266$19,259$14,491$10,781$7,946$2,067
26 years$24,035$18,101$13,440$9,858$7,157$1,742
27 years$22,897$17,035$12,480$9,023$6,453$1,468
28 years$21,842$16,052$11,602$8,267$5,823$1,238
29 years$20,862$15,143$10,796$7,581$5,258$1,044
30 years$19,949$14,301$10,056$6,958$4,751$881
31 years$19,096$13,519$9,375$6,390$4,295$743
32 years$18,298$12,792$8,747$5,872$3,885$627
33 years$17,550$12,114$8,167$5,400$3,516$529
34 years$16,848$11,481$7,631$4,969$3,183$447
35 years$16,187$10,890$7,135$4,574$2,883$377
36 years$15,565$10,336$6,674$4,213$2,612$318
37 years$14,977$9,817$6,247$3,881$2,368$269
38 years$14,422$9,330$5,850$3,577$2,147$227
39 years$13,896$8,872$5,481$3,299$1,947$192
40 years$13,398$8,441$5,137$3,042$1,766$162
41 years$12,926$8,035$4,817$2,807$1,602$137
42 years$12,477$7,652$4,519$2,591$1,454$115
43 years$12,050$7,291$4,240$2,391$1,319$97
44 years$11,644$6,950$3,980$2,208$1,197$82
45 years$11,257$6,627$3,737$2,039$1,087$70
46 years$10,888$6,322$3,510$1,884$987$59
47 years$10,535$6,033$3,298$1,740$896$50
48 years$10,198$5,759$3,099$1,608$814$42
49 years$9,876$5,500$2,913$1,486$739$35
50 years$9,568$5,254$2,738$1,374$671$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $9,800,000, adding $2,164 every year, while hoping to spend $33,439 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: 34/41/25 Blend
55$9,800,000$9,800,000$9,800,000$9,800,000
56$10,801,832$10,282,432$10,130,532$11,086,937
57$11,868,040$10,750,693$10,434,326$11,768,698
58$13,041,881$11,240,777$10,747,177$12,500,197
59$14,334,297$11,753,719$11,069,351$13,288,366
60$15,757,347$12,290,604$11,401,127$14,138,260
61$17,324,319$12,852,565$11,742,786$15,055,421
62$19,049,852$13,440,794$12,094,623$16,045,921
63$20,950,082$14,056,537$12,456,937$17,116,420
64$23,042,784$14,701,102$12,830,039$18,274,220
65$25,347,550$15,375,858$13,214,247$19,527,333
66$27,885,966$16,082,241$13,609,890$20,884,550
67$30,681,819$16,821,755$14,017,306$22,355,517
68$33,761,320$17,595,977$14,436,841$23,950,824
69$37,153,354$18,406,559$14,868,855$25,682,096
70$40,889,750$19,255,234$15,313,715$27,562,098
71$45,005,581$20,143,816$15,771,800$29,604,852
72$49,539,496$21,074,209$16,243,502$31,825,757
73$54,534,086$22,048,407$16,729,221$34,241,733
74$60,036,283$23,068,500$17,229,370$36,871,370
75$66,097,806$24,136,678$17,744,376$39,735,099
76$72,775,645$25,255,238$18,274,676$42,855,374
77$80,132,604$26,426,588$18,820,720$46,256,876
78$88,237,889$27,653,250$19,382,973$49,966,743
79$97,167,763$28,937,868$19,961,912$54,014,809
80$107,006,267$30,283,216$20,558,028$58,433,882
81$117,846,011$31,692,198$21,171,827$63,260,041
82$129,789,050$33,167,862$21,803,829$68,532,969
83$142,947,845$34,713,399$22,454,570$74,296,316
84$157,446,327$36,332,158$23,124,600$80,598,096
85$173,421,065$38,027,646$23,814,487$87,491,137
86$191,022,556$39,803,543$24,524,814$95,033,558
87$210,416,644$41,663,704$25,256,182$103,289,313
88$231,786,087$43,612,171$26,009,210$112,328,775
89$255,332,282$45,653,181$26,784,533$122,229,391
90$281,277,165$47,791,178$27,582,805$133,076,395
91$309,865,308$50,030,817$28,404,701$144,963,601
92$341,366,224$52,376,982$29,250,913$157,994,270
93$376,076,915$54,834,790$30,122,155$172,282,067
94$414,324,674$57,409,609$31,019,161$187,952,121
95$456,470,174$60,107,062$31,942,685$205,142,183
96$502,910,872$62,933,049$32,893,506$224,003,911
97$554,084,765$65,893,753$33,872,423$244,704,279
98$610,474,521$68,995,656$34,880,258$267,427,134
99$672,612,034$72,245,555$35,917,859$292,374,909
100$741,083,450$75,650,576$36,986,096$319,770,511