Can I retire at age 56 with 12,400,000?

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 $12,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$1,023,980$1,014,859$1,005,960$997,275$988,793$957,141
2 years$506,921$497,480$488,330$479,459$470,854$439,257
3 years$334,590$325,109$315,982$307,194$298,729$268,179
4 years$248,442$238,989$229,954$221,316$213,056$183,786
5 years$196,766$187,371$178,454$169,992$161,962$134,051
6 years$162,327$153,002$144,217$135,944$128,155$101,627
7 years$137,738$128,491$119,845$111,767$104,224$79,076
8 years$119,304$110,140$101,638$93,759$86,464$62,678
9 years$104,974$95,897$87,541$79,861$72,815$50,365
10 years$93,517$84,529$76,320$68,841$62,042$40,893
11 years$84,149$75,251$67,191$59,913$53,358$33,472
12 years$76,348$67,541$59,630$52,551$46,239$27,572
13 years$69,752$61,037$53,276$46,395$40,322$22,828
14 years$64,103$55,481$47,869$41,184$35,346$18,978
15 years$59,212$50,683$43,219$36,729$31,121$15,831
16 years$54,937$46,501$39,184$32,887$27,505$13,242
17 years$51,168$42,826$35,656$29,549$24,388$11,101
18 years$47,822$39,573$32,549$26,629$21,684$9,324
19 years$44,832$36,676$29,797$24,062$19,328$7,843
20 years$42,144$34,081$27,347$21,793$17,264$6,607
21 years$39,715$31,745$25,154$19,778$15,449$5,571
22 years$37,510$29,633$23,183$17,983$13,848$4,702
23 years$35,499$27,715$21,405$16,377$12,431$3,972
24 years$33,659$25,967$19,796$14,937$11,173$3,357
25 years$31,969$24,369$18,335$13,641$10,054$2,839
26 years$30,411$22,903$17,005$12,473$9,056$2,402
27 years$28,972$21,554$15,791$11,417$8,165$2,033
28 years$27,637$20,310$14,680$10,460$7,368$1,721
29 years$26,397$19,160$13,661$9,592$6,653$1,457
30 years$25,241$18,095$12,724$8,803$6,011$1,235
31 years$24,162$17,106$11,863$8,085$5,435$1,046
32 years$23,153$16,186$11,068$7,431$4,916$886
33 years$22,207$15,328$10,334$6,833$4,449$751
34 years$21,318$14,527$9,656$6,287$4,028$637
35 years$20,482$13,779$9,027$5,787$3,648$540
36 years$19,694$13,078$8,445$5,330$3,306$458
37 years$18,951$12,421$7,904$4,911$2,996$388
38 years$18,248$11,805$7,402$4,527$2,716$329
39 years$17,583$11,225$6,935$4,174$2,463$279
40 years$16,953$10,680$6,500$3,850$2,234$237
41 years$16,355$10,166$6,095$3,552$2,027$201
42 years$15,787$9,682$5,717$3,278$1,839$170
43 years$15,247$9,225$5,365$3,026$1,669$144
44 years$14,733$8,793$5,036$2,794$1,515$122
45 years$14,243$8,385$4,729$2,580$1,375$104
46 years$13,776$7,999$4,441$2,383$1,249$88
47 years$13,330$7,634$4,172$2,202$1,134$75
48 years$12,904$7,287$3,921$2,035$1,030$63
49 years$12,497$6,959$3,685$1,880$935$54
50 years$12,107$6,648$3,465$1,738$850$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $12,400,000, adding $2,814 every year, while hoping to spend $27,815 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: 71/9/20 Blend
55$12,400,000$12,400,000$12,400,000$12,400,000
56$13,667,703$13,010,503$12,818,303$14,571,506
57$15,032,213$13,618,422$13,218,121$15,781,877
58$16,534,972$14,255,198$13,630,401$17,103,080
59$18,190,050$14,922,214$14,055,530$18,548,974
60$20,012,955$15,620,922$14,493,910$20,131,912
61$22,020,772$16,352,843$14,945,952$21,865,491
62$24,232,332$17,119,573$15,412,082$23,764,684
63$26,668,382$17,922,784$15,892,739$25,845,972
64$29,351,786$18,764,230$16,388,375$28,127,504
65$32,307,739$19,645,748$16,899,457$30,629,262
66$35,564,005$20,569,266$17,426,465$33,373,251
67$39,151,177$21,536,804$17,969,895$36,383,702
68$43,102,970$22,550,480$18,530,259$39,687,298
69$47,456,534$23,612,515$19,108,084$43,313,427
70$52,252,810$24,725,237$19,703,914$47,294,452
71$57,536,910$25,891,087$20,318,309$51,666,017
72$63,358,549$27,112,625$20,951,847$56,467,382
73$69,772,511$28,392,533$21,605,124$61,741,787
74$76,839,166$29,733,626$22,278,754$67,536,859
75$84,625,040$31,138,854$22,973,372$73,905,059
76$93,203,445$32,611,308$23,689,630$80,904,176
77$102,655,166$34,154,231$24,428,202$88,597,862
78$113,069,229$35,771,025$25,189,783$97,056,238
79$124,543,738$37,465,253$25,975,089$106,356,548
80$137,186,803$39,240,654$26,784,858$116,583,884
81$151,117,559$41,101,148$27,619,852$127,831,987
82$166,467,288$43,050,843$28,480,856$140,204,127
83$183,380,667$45,094,049$29,368,679$153,814,073
84$202,017,121$47,235,284$30,284,157$168,787,166
85$222,552,340$49,479,286$31,228,149$185,261,491
86$245,179,930$51,831,022$32,201,543$203,389,184
87$270,113,243$54,295,702$33,205,255$223,337,855
88$297,587,390$56,878,787$34,240,227$245,292,172
89$327,861,461$59,586,005$35,307,432$269,455,595
90$361,220,973$62,423,362$36,407,874$296,052,290
91$397,980,561$65,397,155$37,542,586$325,329,244
92$438,486,950$68,513,988$38,712,635$357,558,587
93$483,122,232$71,780,786$39,919,120$393,040,153
94$532,307,464$75,204,810$41,163,176$432,104,308
95$586,506,654$78,793,673$42,445,970$475,115,062
96$646,231,131$82,555,362$43,768,709$522,473,492
97$712,044,380$86,498,248$45,132,634$574,621,526
98$784,567,357$90,631,113$46,539,028$632,046,109
99$864,484,353$94,963,163$47,989,211$695,283,784
100$952,549,454$99,504,055$49,484,546$764,925,758