Can I retire at age 56 with 12,200,000?

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 $12,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$1,007,465$998,491$989,735$981,190$972,845$940,575
2 years$498,745$489,456$480,454$471,726$463,260$431,061
3 years$329,194$319,865$310,886$302,239$293,911$262,795
4 years$244,435$235,135$226,245$217,746$209,620$179,824
5 years$193,593$184,348$175,575$167,250$159,350$130,954
6 years$159,709$150,534$141,891$133,751$126,088$99,115
7 years$135,516$126,419$117,912$109,964$102,543$76,990
8 years$117,379$108,364$99,999$92,246$85,069$60,917
9 years$103,281$94,350$86,129$78,573$71,641$48,860
10 years$92,008$83,165$75,089$67,731$61,042$39,597
11 years$82,791$74,037$66,107$58,946$52,498$32,347
12 years$75,116$66,452$58,669$51,704$45,493$26,593
13 years$68,627$60,053$52,416$45,647$39,671$21,973
14 years$63,069$54,586$47,096$40,520$34,776$18,229
15 years$58,257$49,866$42,522$36,137$30,619$15,174
16 years$54,051$45,751$38,552$32,357$27,061$12,664
17 years$50,343$42,135$35,081$29,072$23,994$10,594
18 years$47,051$38,934$32,024$26,200$21,335$8,878
19 years$44,109$36,084$29,317$23,674$19,016$7,451
20 years$41,464$33,531$26,906$21,441$16,986$6,262
21 years$39,074$31,233$24,748$19,459$15,200$5,268
22 years$36,905$29,155$22,809$17,693$13,625$4,436
23 years$34,927$27,268$21,060$16,113$12,230$3,738
24 years$33,116$25,548$19,477$14,696$10,993$3,152
25 years$31,453$23,976$18,040$13,421$9,892$2,659
26 years$29,921$22,533$16,731$12,272$8,910$2,244
27 years$28,504$21,206$15,536$11,233$8,033$1,895
28 years$27,191$19,983$14,443$10,292$7,249$1,600
29 years$25,971$18,851$13,440$9,438$6,545$1,352
30 years$24,834$17,803$12,519$8,661$5,914$1,142
31 years$23,772$16,830$11,671$7,955$5,347$966
32 years$22,779$15,925$10,889$7,311$4,837$816
33 years$21,848$15,081$10,167$6,723$4,377$690
34 years$20,974$14,293$9,500$6,186$3,963$583
35 years$20,152$13,557$8,882$5,694$3,590$493
36 years$19,376$12,867$8,309$5,244$3,252$417
37 years$18,645$12,221$7,777$4,832$2,948$353
38 years$17,954$11,614$7,283$4,454$2,672$298
39 years$17,299$11,044$6,823$4,106$2,423$252
40 years$16,679$10,508$6,395$3,788$2,198$213
41 years$16,091$10,002$5,997$3,495$1,994$181
42 years$15,532$9,526$5,625$3,225$1,809$153
43 years$15,001$9,076$5,278$2,977$1,642$129
44 years$14,495$8,651$4,955$2,749$1,491$109
45 years$14,013$8,250$4,652$2,539$1,353$92
46 years$13,554$7,870$4,370$2,345$1,229$78
47 years$13,115$7,511$4,105$2,166$1,116$66
48 years$12,696$7,170$3,858$2,002$1,013$56
49 years$12,295$6,847$3,626$1,850$920$47
50 years$11,911$6,540$3,409$1,710$836$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $12,200,000, adding $6,550 every year, while hoping to spend $53,912 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: 63/12/25 Blend
55$12,200,000$12,200,000$12,200,000$12,200,000
56$13,451,156$12,804,556$12,615,456$14,209,425
57$14,765,812$13,374,618$12,980,712$15,293,305
58$16,212,756$13,970,805$13,356,397$16,470,118
59$17,805,425$14,594,342$13,742,804$17,754,319
60$19,558,623$15,246,509$14,140,233$19,156,426
61$21,488,664$15,928,650$14,548,992$20,688,013
62$23,613,524$16,642,170$14,969,399$22,361,819
63$25,953,010$17,388,543$15,401,780$24,191,866
64$28,528,946$18,169,311$15,846,470$26,193,587
65$31,365,384$18,986,092$16,303,811$28,383,970
66$34,488,822$19,840,579$16,774,158$30,781,718
67$37,928,462$20,734,548$17,257,872$33,407,423
68$41,716,481$21,669,857$17,755,328$36,283,754
69$45,888,337$22,648,455$18,266,906$39,435,671
70$50,483,101$23,672,382$18,793,000$42,890,659
71$55,543,826$24,743,778$19,334,015$46,678,982
72$61,117,956$25,864,883$19,890,364$50,833,968
73$67,257,770$27,038,045$20,462,474$55,392,318
74$74,020,877$28,265,724$21,050,781$60,394,450
75$81,470,760$29,550,497$21,655,736$65,884,878
76$89,677,373$30,895,067$22,277,799$71,912,629
77$98,717,804$32,302,264$22,917,443$78,531,700
78$108,676,998$33,775,053$23,575,156$85,801,566
79$119,648,565$35,316,544$24,251,436$93,787,734
80$131,735,656$36,929,992$24,946,797$102,562,364
81$145,051,943$38,618,812$25,661,766$112,204,938
82$159,722,689$40,386,581$26,396,882$122,803,010
83$175,885,926$42,237,047$27,152,701$134,453,029
84$193,693,767$44,174,139$27,929,792$147,261,241
85$213,313,833$46,201,973$28,728,742$161,344,688
86$234,930,840$48,324,866$29,550,151$176,832,310
87$258,748,340$50,547,339$30,394,636$193,866,155
88$284,990,644$52,874,131$31,262,829$212,602,713
89$313,904,936$55,310,210$32,155,380$233,214,387
90$345,763,612$57,860,783$33,072,958$255,891,119
91$380,866,844$60,531,305$34,016,246$280,842,171
92$419,545,420$63,327,496$34,985,947$308,298,098
93$462,163,860$66,255,351$35,982,784$338,512,912
94$509,123,862$69,321,152$37,007,496$371,766,479
95$560,868,092$72,531,484$38,060,843$408,367,151
96$617,884,362$75,893,252$39,143,606$448,654,665
97$680,710,235$79,413,689$40,256,584$493,003,350
98$749,938,099$83,100,380$41,400,600$541,825,643
99$826,220,761$86,961,274$42,576,496$595,575,981
100$910,277,607$91,004,706$43,785,138$654,755,079