Can I retire at age 56 with 16,400,000?

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 $16,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$1,354,297$1,342,233$1,330,464$1,318,976$1,307,759$1,301,154
2 years$670,444$657,958$645,856$634,123$622,742$616,077
3 years$442,523$429,982$417,912$406,289$395,093$388,573
4 years$328,585$316,083$304,133$292,708$281,784$275,459
5 years$260,239$247,813$236,019$224,828$214,208$208,097
6 years$214,691$202,358$190,739$179,797$169,495$163,607
7 years$182,169$169,940$158,505$147,821$137,845$132,182
8 years$157,789$145,670$134,425$124,003$114,356$108,918
9 years$138,836$126,832$115,780$105,623$96,304$91,091
10 years$123,683$111,796$100,940$91,048$82,056$77,065
11 years$111,293$99,525$88,866$79,239$70,571$65,798
12 years$100,976$89,329$78,866$69,503$61,155$56,597
13 years$92,252$80,727$70,462$61,361$53,328$48,981
14 years$84,782$73,379$63,310$54,470$46,747$42,605
15 years$78,313$67,033$57,160$48,577$41,160$37,218
16 years$72,658$61,501$51,824$43,496$36,377$32,630
17 years$67,674$56,640$47,158$39,081$32,255$28,697
18 years$63,249$52,338$43,049$35,219$28,679$25,304
19 years$59,294$48,506$39,409$31,824$25,563$22,365
20 years$55,738$45,075$36,168$28,823$22,833$19,806
21 years$52,526$41,985$33,268$26,158$20,433$17,571
22 years$49,610$39,192$30,661$23,784$18,315$15,611
23 years$46,951$36,655$28,310$21,660$16,441$13,889
24 years$44,517$34,343$26,182$19,756$14,777$12,371
25 years$42,282$32,230$24,250$18,042$13,297$11,031
26 years$40,222$30,291$22,491$16,497$11,978$9,845
27 years$38,317$28,507$20,885$15,100$10,799$8,794
28 years$36,552$26,862$19,415$13,835$9,744$7,860
29 years$34,912$25,341$18,067$12,687$8,799$7,030
30 years$33,383$23,932$16,829$11,643$7,950$6,292
31 years$31,956$22,624$15,689$10,693$7,188$5,633
32 years$30,621$21,407$14,638$9,827$6,502$5,046
33 years$29,370$20,273$13,668$9,037$5,884$4,522
34 years$28,195$19,214$12,770$8,315$5,327$4,054
35 years$27,089$18,224$11,939$7,654$4,825$3,636
36 years$26,047$17,297$11,169$7,049$4,372$3,261
37 years$25,064$16,428$10,454$6,495$3,962$2,926
38 years$24,134$15,613$9,790$5,987$3,592$2,626
39 years$23,255$14,846$9,172$5,520$3,258$2,357
40 years$22,421$14,125$8,597$5,091$2,955$2,116
41 years$21,631$13,446$8,061$4,698$2,681$1,901
42 years$20,880$12,805$7,562$4,335$2,432$1,707
43 years$20,165$12,201$7,096$4,002$2,208$1,533
44 years$19,486$11,630$6,660$3,695$2,004$1,377
45 years$18,838$11,090$6,254$3,413$1,819$1,237
46 years$18,220$10,580$5,874$3,152$1,652$1,112
47 years$17,630$10,096$5,518$2,912$1,500$999
48 years$17,067$9,638$5,186$2,691$1,362$898
49 years$16,528$9,204$4,874$2,487$1,237$807
50 years$16,012$8,792$4,582$2,299$1,124$725

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,400,000, adding $5,916 every year, while hoping to spend $21,774 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: 42/41/17 Blend
55$16,400,000$16,400,000$16,400,000$16,400,000
56$18,078,902$17,209,702$16,955,502$18,747,938
57$19,899,783$18,029,810$17,500,344$20,041,170
58$21,905,664$18,889,374$18,062,709$21,438,116
59$24,115,392$19,790,303$18,643,160$22,950,381
60$26,549,735$20,734,602$19,242,279$24,588,541
61$29,231,581$21,724,370$19,860,668$26,364,199
62$32,186,149$22,761,811$20,498,947$28,290,083
63$35,441,230$23,849,234$21,157,756$30,380,163
64$39,027,451$24,989,062$21,837,756$32,649,771
65$42,978,559$26,183,834$22,539,630$35,115,740
66$47,331,746$27,436,215$23,264,081$37,796,552
67$52,127,993$28,748,999$24,011,836$40,712,504
68$57,412,461$30,125,113$24,783,646$43,885,892
69$63,234,919$31,567,631$25,580,285$47,341,207
70$69,650,209$33,079,773$26,402,553$51,105,358
71$76,718,767$34,664,917$27,251,274$55,207,915
72$84,507,190$36,326,608$28,127,301$59,681,377
73$93,088,871$38,068,559$29,031,513$64,561,463
74$102,544,685$39,894,667$29,964,818$69,887,442
75$112,963,755$41,809,018$30,928,151$75,702,485
76$124,444,295$43,815,897$31,922,482$82,054,063
77$137,094,534$45,919,797$32,948,806$88,994,377
78$151,033,741$48,125,432$34,008,156$96,580,836
79$166,393,347$50,437,743$35,101,593$104,876,586
80$183,318,190$52,861,913$36,230,218$113,951,084
81$201,967,877$55,403,379$37,395,162$123,880,741
82$222,518,296$58,067,840$38,597,595$134,749,622
83$245,163,273$60,861,274$39,838,725$146,650,220
84$270,116,403$63,789,953$41,119,799$159,684,313
85$297,613,066$66,860,451$42,442,103$173,963,897
86$327,912,650$70,079,665$43,806,964$189,612,227
87$361,300,998$73,454,826$45,215,755$206,764,953
88$398,093,107$76,993,519$46,669,890$225,571,380
89$438,636,102$80,703,700$48,170,829$246,195,850
90$483,312,514$84,593,710$49,720,081$268,819,267
91$532,543,889$88,672,301$51,319,203$293,640,774
92$586,794,769$92,948,647$52,969,800$320,879,611
93$646,577,079$97,432,374$54,673,531$350,777,147
94$712,454,955$102,133,575$56,432,109$383,599,128
95$785,050,075$107,062,835$58,247,299$419,638,157
96$865,047,527$112,231,258$60,120,928$459,216,414
97$953,202,272$117,650,487$62,054,876$502,688,666
98$1,050,346,278$123,332,735$64,051,089$550,445,574
99$1,157,396,370$129,290,810$66,111,572$602,917,342
100$1,275,362,887$135,538,147$68,238,397$660,577,738