Can I retire at age 56 with 16,600,000?

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 $16,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$1,370,812$1,358,602$1,346,689$1,335,061$1,323,707$1,287,530
2 years$678,620$665,981$653,733$641,856$630,337$594,153
3 years$447,919$435,226$423,008$411,244$399,912$364,854
4 years$332,592$319,937$307,842$296,278$285,220$251,559
5 years$263,413$250,835$238,898$227,570$216,820$184,646
6 years$217,309$204,825$193,065$181,989$171,562$140,907
7 years$184,391$172,012$160,438$149,624$139,526$110,391
8 years$159,713$147,446$136,064$125,515$115,750$88,120
9 years$140,529$128,378$117,192$106,911$97,479$71,326
10 years$125,192$113,159$102,171$92,159$83,057$58,350
11 years$112,651$100,739$89,949$80,206$71,431$48,131
12 years$102,207$90,418$79,828$70,351$61,901$39,963
13 years$93,377$81,711$71,321$62,109$53,979$33,357
14 years$85,816$74,273$64,082$55,134$47,318$27,963
15 years$79,268$67,850$57,857$49,170$41,662$23,523
16 years$73,544$62,251$52,456$44,026$36,821$19,846
17 years$68,499$57,331$47,733$39,557$32,648$16,785
18 years$64,020$52,976$43,574$35,649$29,029$14,224
19 years$60,017$49,098$39,890$32,212$25,874$12,074
20 years$56,418$45,624$36,609$29,174$23,111$10,264
21 years$53,167$42,497$33,673$26,477$20,682$8,735
22 years$50,215$39,670$31,035$24,074$18,539$7,442
23 years$47,523$37,102$28,656$21,925$16,641$6,346
24 years$45,060$34,762$26,501$19,996$14,958$5,415
25 years$42,797$32,623$24,546$18,262$13,460$4,623
26 years$40,712$30,660$22,765$16,698$12,124$3,949
27 years$38,785$28,855$21,139$15,284$10,931$3,375
28 years$36,998$27,190$19,652$14,003$9,863$2,886
29 years$35,337$25,650$18,288$12,841$8,906$2,468
30 years$33,790$24,224$17,034$11,785$8,047$2,112
31 years$32,346$22,900$15,880$10,824$7,275$1,807
32 years$30,995$21,668$14,817$9,947$6,581$1,546
33 years$29,728$20,520$13,834$9,147$5,956$1,324
34 years$28,538$19,448$12,926$8,416$5,392$1,133
35 years$27,419$18,446$12,085$7,748$4,884$970
36 years$26,365$17,508$11,305$7,135$4,425$831
37 years$25,369$16,629$10,582$6,574$4,011$712
38 years$24,429$15,803$9,909$6,060$3,636$610
39 years$23,538$15,027$9,284$5,587$3,297$522
40 years$22,695$14,297$8,702$5,154$2,991$447
41 years$21,894$13,610$8,159$4,755$2,713$383
42 years$21,134$12,961$7,654$4,388$2,462$328
43 years$20,411$12,350$7,182$4,051$2,234$281
44 years$19,723$11,772$6,742$3,740$2,028$241
45 years$19,067$11,225$6,330$3,454$1,841$206
46 years$18,442$10,709$5,945$3,191$1,672$177
47 years$17,845$10,219$5,586$2,948$1,518$152
48 years$17,275$9,756$5,249$2,724$1,379$130
49 years$16,729$9,316$4,934$2,517$1,252$111
50 years$16,207$8,899$4,638$2,327$1,137$95

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,600,000, adding $4,770 every year, while hoping to spend $56,293 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: 76/13/11 Blend
55$16,600,000$16,600,000$16,600,000$16,600,000
56$18,298,120$17,418,320$17,161,020$19,650,898
57$20,104,633$18,211,923$17,676,019$21,336,336
58$22,093,524$19,042,525$18,206,384$23,175,800
59$24,283,335$19,911,880$18,752,569$25,190,629
60$26,694,500$20,821,827$19,315,045$27,398,238
61$29,349,532$21,774,290$19,894,293$29,817,801
62$32,273,242$22,771,288$20,490,809$32,470,429
63$35,492,968$23,814,936$21,105,106$35,379,365
64$39,038,833$24,907,450$21,737,709$38,570,201
65$42,944,032$26,051,153$22,389,160$42,071,115
66$47,245,143$27,248,479$23,060,017$45,913,139
67$51,982,473$28,501,981$23,750,854$50,130,444
68$57,200,438$29,814,331$24,462,260$54,760,661
69$62,947,982$31,188,332$25,194,845$59,845,233
70$69,279,038$32,626,922$25,949,234$65,429,802
71$76,253,038$34,133,180$26,726,072$71,564,637
72$83,935,474$35,710,331$27,526,021$78,305,104
73$92,398,514$37,361,759$28,349,764$85,712,185
74$101,721,685$39,091,007$29,198,004$93,853,048
75$111,992,622$40,901,793$30,071,463$102,801,680
76$123,307,899$42,798,009$30,970,885$112,639,576
77$135,773,932$44,783,739$31,897,038$123,456,510
78$149,507,992$46,863,262$32,850,708$135,351,370
79$164,639,308$49,041,063$33,832,707$148,433,092
80$181,310,285$51,321,843$34,843,871$162,821,680
81$199,677,852$53,710,530$35,885,058$178,649,334
82$219,914,939$56,212,292$36,957,154$196,061,694
83$242,212,112$58,832,544$38,061,068$215,219,203
84$266,779,371$61,576,962$39,197,737$236,298,622
85$293,848,132$64,451,498$40,368,126$259,494,689
86$323,673,410$67,462,390$41,573,227$285,021,946
87$356,536,228$70,616,178$42,814,060$313,116,767
88$392,746,271$73,919,718$44,091,678$344,039,570
89$432,644,802$77,380,196$45,407,162$378,077,277
90$476,607,895$81,005,148$46,761,624$415,546,008
91$525,049,972$84,802,472$48,156,210$456,794,061
92$578,427,725$88,780,450$49,592,100$502,205,187
93$637,244,423$92,947,761$51,070,505$552,202,206
94$702,054,662$97,313,509$52,592,674$607,250,986
95$773,469,601$101,887,235$54,159,893$667,864,835
96$852,162,733$106,678,942$55,773,482$734,609,330
97$938,876,240$111,699,119$57,434,802$808,107,649
98$1,034,428,002$116,958,761$59,145,253$889,046,442
99$1,139,719,314$122,469,397$60,906,275$978,182,298
100$1,255,743,400$128,243,113$62,719,351$1,076,348,880