Can I retire at age 56 with 16,700,000?

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 $16,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$1,379,070$1,366,786$1,354,802$1,343,104$1,331,681$1,322,735
2 years$682,708$669,993$657,671$645,723$634,134$625,111
3 years$450,618$437,848$425,556$413,721$402,321$393,500
4 years$334,595$321,865$309,696$298,063$286,938$278,389
5 years$265,000$252,346$240,337$228,941$218,126$209,873
6 years$218,618$206,059$194,228$183,086$172,596$164,649
7 years$185,501$173,048$161,404$150,525$140,367$132,731
8 years$160,675$148,334$136,884$126,272$116,448$109,123
9 years$141,376$129,152$117,898$107,555$98,066$91,049
10 years$125,946$113,841$102,786$92,714$83,557$76,846
11 years$113,329$101,346$90,491$80,689$71,862$65,451
12 years$102,823$90,963$80,309$70,775$62,274$56,158
13 years$93,940$82,204$71,750$62,484$54,304$48,477
14 years$86,333$74,721$64,468$55,466$47,603$42,057
15 years$79,745$68,259$58,206$49,466$41,913$36,641
16 years$73,987$62,626$52,772$44,291$37,043$32,037
17 years$68,912$57,676$48,021$39,795$32,845$28,098
18 years$64,405$53,296$43,837$35,864$29,204$24,707
19 years$60,378$49,394$40,130$32,406$26,030$21,774
20 years$56,758$45,899$36,830$29,350$23,251$19,227
21 years$53,487$42,753$33,876$26,637$20,807$17,007
22 years$50,517$39,909$31,222$24,219$18,650$15,066
23 years$47,810$37,326$28,828$22,057$16,742$13,364
24 years$45,332$34,972$26,661$20,117$15,048$11,867
25 years$43,055$32,819$24,694$18,372$13,541$10,549
26 years$40,957$30,845$22,902$16,798$12,197$9,385
27 years$39,018$29,029$21,267$15,376$10,997$8,357
28 years$37,221$27,353$19,770$14,088$9,922$7,446
29 years$35,550$25,805$18,398$12,919$8,960$6,638
30 years$33,994$24,370$17,137$11,856$8,096$5,922
31 years$32,541$23,038$15,976$10,889$7,319$5,285
32 years$31,182$21,798$14,906$10,007$6,621$4,719
33 years$29,907$20,643$13,918$9,202$5,992$4,215
34 years$28,710$19,565$13,004$8,467$5,425$3,766
35 years$27,584$18,557$12,158$7,794$4,914$3,366
36 years$26,523$17,614$11,373$7,178$4,452$3,009
37 years$25,522$16,729$10,645$6,614$4,035$2,691
38 years$24,576$15,898$9,969$6,096$3,658$2,407
39 years$23,680$15,118$9,340$5,621$3,317$2,153
40 years$22,832$14,383$8,754$5,185$3,009$1,927
41 years$22,026$13,692$8,209$4,783$2,730$1,724
42 years$21,262$13,039$7,700$4,415$2,477$1,543
43 years$20,534$12,424$7,225$4,075$2,248$1,381
44 years$19,842$11,843$6,782$3,763$2,040$1,236
45 years$19,182$11,293$6,368$3,475$1,852$1,107
46 years$18,553$10,773$5,981$3,210$1,682$991
47 years$17,953$10,281$5,619$2,966$1,527$888
48 years$17,379$9,814$5,281$2,740$1,387$795
49 years$16,830$9,372$4,963$2,533$1,260$712
50 years$16,305$8,953$4,666$2,341$1,144$638

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $16,700,000, adding $6,096 every year, while hoping to spend $55,005 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: 62/17/21 Blend
55$16,700,000$16,700,000$16,700,000$16,700,000
56$18,409,688$17,524,588$17,265,738$19,450,170
57$20,228,951$18,324,768$17,785,615$20,953,786
58$22,231,936$19,162,313$18,321,065$22,588,021
59$24,437,323$20,038,996$18,872,551$24,371,010
60$26,865,699$20,956,676$19,440,550$26,317,253
61$29,539,745$21,917,298$20,025,553$28,442,701
62$32,484,457$22,922,904$20,628,067$30,764,907
63$35,727,377$23,975,631$21,248,613$33,303,182
64$39,298,855$25,077,722$21,887,726$36,078,778
65$43,232,332$26,231,525$22,545,959$39,115,085
66$47,564,662$27,439,501$23,223,881$42,437,842
67$52,336,452$28,704,231$23,922,075$46,075,383
68$57,592,450$30,028,419$24,641,145$50,058,895
69$63,381,968$31,414,899$25,381,711$54,422,709
70$69,759,341$32,866,642$26,144,411$59,204,618
71$76,784,448$34,386,761$26,929,903$64,446,230
72$84,523,269$35,978,520$27,738,862$70,193,357
73$93,048,515$37,645,340$28,571,987$76,496,438
74$102,440,308$39,390,806$29,429,993$83,411,011
75$112,786,940$41,218,677$30,313,618$90,998,232
76$124,185,707$43,132,891$31,223,624$99,325,443
77$136,743,825$45,137,578$32,160,791$108,466,807
78$150,579,443$47,237,068$33,125,925$118,503,994
79$165,822,759$49,435,896$34,119,856$129,526,949
80$182,617,245$51,738,820$35,143,435$141,634,734
81$201,121,006$54,150,824$36,197,543$154,936,450
82$221,508,270$56,677,136$37,283,082$169,552,267
83$243,971,033$59,323,235$38,400,984$185,614,542
84$268,720,868$62,094,863$39,552,207$203,269,064
85$295,990,927$64,998,042$40,737,736$222,676,419
86$326,038,138$68,039,083$41,958,588$244,013,498
87$359,145,634$71,224,603$43,215,806$267,475,154
88$395,625,420$74,561,540$44,510,467$293,276,033
89$435,821,322$78,057,165$45,843,677$321,652,588
90$480,112,233$81,719,102$47,216,576$352,865,301
91$528,915,687$85,555,344$48,630,337$387,201,129
92$582,691,800$89,574,270$50,086,167$424,976,198
93$641,947,620$93,784,664$51,585,309$466,538,778
94$707,241,902$98,195,738$53,129,042$512,272,557
95$779,190,393$102,817,146$54,718,682$562,600,244
96$858,471,639$107,659,012$56,355,584$617,987,549
97$945,833,393$112,731,951$58,041,143$678,947,562
98$1,042,099,672$118,047,089$59,776,794$746,045,581
99$1,148,178,536$123,616,094$61,564,014$819,904,431
100$1,265,070,663$129,451,199$63,404,325$901,210,327