Can I retire at age 56 with 16,000,000?

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 $16,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$1,321,265$1,309,496$1,298,013$1,286,806$1,275,862$1,268,886
2 years$654,092$641,910$630,104$618,657$607,554$600,514
3 years$431,730$419,495$407,719$396,379$385,457$378,572
4 years$320,570$308,373$296,715$285,569$274,911$268,234
5 years$253,892$241,768$230,263$219,344$208,983$202,533
6 years$209,455$197,422$186,087$175,411$165,361$159,147
7 years$177,726$165,795$154,639$144,215$134,483$128,508
8 years$153,940$142,117$131,146$120,979$111,567$105,831
9 years$135,450$123,738$112,956$103,047$93,955$88,458
10 years$120,667$109,069$98,478$88,828$80,054$74,792
11 years$108,579$97,098$86,698$77,307$68,850$63,819
12 years$98,513$87,150$76,942$67,808$59,664$54,860
13 years$90,002$78,758$68,743$59,865$52,028$47,447
14 years$82,714$71,589$61,766$53,141$45,607$41,245
15 years$76,403$65,398$55,766$47,392$40,156$36,006
16 years$70,886$60,001$50,560$42,435$35,490$31,546
17 years$66,023$55,259$46,008$38,127$31,468$27,724
18 years$61,706$51,062$41,999$34,360$27,980$24,429
19 years$57,847$47,323$38,448$31,048$24,939$21,576
20 years$54,379$43,975$35,286$28,120$22,276$19,094
21 years$51,245$40,961$32,456$25,520$19,935$16,926
22 years$48,400$38,236$29,913$23,204$17,869$15,028
23 years$45,806$35,761$27,620$21,132$16,040$13,360
24 years$43,431$33,506$25,544$19,274$14,417$11,891
25 years$41,250$31,444$23,659$17,602$12,973$10,595
26 years$39,241$29,552$21,942$16,094$11,686$9,448
27 years$37,383$27,812$20,375$14,731$10,536$8,432
28 years$35,661$26,207$18,941$13,497$9,506$7,531
29 years$34,060$24,723$17,627$12,377$8,584$6,731
30 years$32,569$23,348$16,418$11,359$7,756$6,019
31 years$31,177$22,072$15,306$10,433$7,012$5,385
32 years$29,875$20,885$14,281$9,588$6,343$4,820
33 years$28,654$19,778$13,334$8,817$5,741$4,316
34 years$27,507$18,745$12,459$8,112$5,197$3,866
35 years$26,428$17,779$11,648$7,468$4,708$3,464
36 years$25,412$16,875$10,897$6,878$4,265$3,104
37 years$24,452$16,028$10,199$6,337$3,866$2,783
38 years$23,546$15,232$9,551$5,841$3,505$2,496
39 years$22,688$14,484$8,948$5,385$3,178$2,238
40 years$21,875$13,780$8,387$4,967$2,883$2,008
41 years$21,103$13,118$7,864$4,583$2,615$1,801
42 years$20,370$12,493$7,377$4,230$2,373$1,616
43 years$19,674$11,903$6,922$3,904$2,154$1,451
44 years$19,010$11,346$6,498$3,605$1,955$1,302
45 years$18,378$10,820$6,101$3,329$1,775$1,169
46 years$17,776$10,322$5,731$3,075$1,611$1,049
47 years$17,200$9,850$5,384$2,841$1,463$942
48 years$16,650$9,403$5,059$2,625$1,329$846
49 years$16,125$8,979$4,755$2,426$1,207$760
50 years$15,622$8,577$4,471$2,243$1,096$682

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,000,000, adding $2,872 every year, while hoping to spend $56,319 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: 64/24/12 Blend
55$16,000,000$16,000,000$16,000,000$16,000,000
56$17,634,962$16,786,962$16,538,962$18,714,794
57$19,373,806$17,549,601$17,033,095$20,199,547
58$21,288,123$18,347,721$17,541,893$21,813,866
59$23,395,754$19,183,001$18,065,789$23,575,757
60$25,716,355$20,057,202$18,605,227$25,499,583
61$28,271,586$20,972,168$19,160,664$27,601,142
62$31,085,313$21,929,829$19,732,572$29,897,809
63$34,183,837$22,932,212$20,321,434$32,408,705
64$37,596,136$23,981,439$20,927,750$35,154,864
65$41,354,144$25,079,732$21,552,032$38,159,432
66$45,493,050$26,229,422$22,194,809$41,447,879
67$50,051,629$27,432,951$22,856,623$45,048,235
68$55,072,609$28,692,880$23,538,034$48,991,349
69$60,603,074$30,011,890$24,239,617$53,311,175
70$66,694,909$31,392,793$24,961,965$58,045,087
71$73,405,285$32,838,536$25,705,686$63,234,227
72$80,797,205$34,352,206$26,471,408$68,923,883
73$88,940,096$35,937,040$27,259,776$75,163,916
74$97,910,462$37,596,430$28,071,454$82,009,219
75$107,792,606$39,333,933$28,907,126$89,520,231
76$118,679,431$41,153,275$29,767,493$97,763,498
77$130,673,309$43,058,361$30,653,281$106,812,297
78$143,887,053$45,053,287$31,565,232$116,747,313
79$158,444,979$47,142,344$32,504,113$127,657,401
80$174,484,078$49,330,031$33,470,712$139,640,409
81$192,155,313$51,621,061$34,465,840$152,804,096
82$211,625,041$54,020,379$35,490,332$167,267,138
83$233,076,583$56,533,165$36,545,046$183,160,238
84$256,711,954$59,164,850$37,630,864$200,627,351
85$282,753,772$61,921,127$38,748,697$219,827,032
86$311,447,357$64,807,962$39,899,479$240,933,918
87$343,063,048$67,831,613$41,084,172$264,140,369
88$377,898,753$70,998,637$42,303,766$289,658,267
89$416,282,764$74,315,908$43,559,280$317,721,007
90$458,576,851$77,790,632$44,851,761$348,585,684
91$505,179,683$81,430,366$46,182,288$382,535,506
92$556,530,585$85,243,028$47,551,969$419,882,453
93$613,113,690$89,236,922$48,961,945$460,970,206
94$675,462,506$93,420,751$50,413,391$506,177,376
95$744,164,956$97,803,642$51,907,513$555,921,059
96$819,868,921$102,395,161$53,445,555$610,660,758
97$903,288,364$107,205,336$55,028,794$670,902,699
98$995,210,064$112,244,684$56,658,545$737,204,592
99$1,096,501,045$117,524,228$58,336,161$810,180,877
100$1,208,116,762$123,055,526$60,063,033$890,508,499