Can I retire at age 56 with 4,700,000?

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 $4,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$388,122$384,664$381,291$377,999$374,785$363,078
2 years$192,139$188,561$185,093$181,730$178,469$166,779
3 years$126,821$123,227$119,767$116,436$113,228$101,922
4 years$94,168$90,585$87,160$83,886$80,755$69,919
5 years$74,581$71,019$67,640$64,432$61,389$51,052
6 years$61,527$57,993$54,663$51,527$48,575$38,746
7 years$52,207$48,702$45,425$42,363$39,504$30,182
8 years$45,220$41,747$38,524$35,538$32,773$23,952
9 years$39,788$36,348$33,181$30,270$27,599$19,270
10 years$35,446$32,039$28,928$26,093$23,516$15,666
11 years$31,895$28,522$25,468$22,709$20,225$12,839
12 years$28,938$25,600$22,602$19,919$17,526$10,590
13 years$26,438$23,135$20,193$17,585$15,283$8,780
14 years$24,297$21,029$18,144$15,610$13,397$7,309
15 years$22,443$19,211$16,381$13,922$11,796$6,106
16 years$20,823$17,625$14,852$12,465$10,425$5,115
17 years$19,394$16,232$13,515$11,200$9,244$4,294
18 years$18,126$14,999$12,337$10,093$8,219$3,612
19 years$16,993$13,901$11,294$9,120$7,326$3,043
20 years$15,974$12,918$10,365$8,260$6,544$2,567
21 years$15,053$12,032$9,534$7,497$5,856$2,168
22 years$14,217$11,232$8,787$6,816$5,249$1,833
23 years$13,455$10,505$8,113$6,208$4,712$1,550
24 years$12,758$9,842$7,503$5,662$4,235$1,313
25 years$12,117$9,237$6,950$5,171$3,811$1,112
26 years$11,527$8,681$6,445$4,728$3,433$942
27 years$10,981$8,170$5,985$4,327$3,095$799
28 years$10,475$7,698$5,564$3,965$2,793$677
29 years$10,005$7,262$5,178$3,636$2,522$575
30 years$9,567$6,859$4,823$3,337$2,278$487
31 years$9,158$6,484$4,496$3,065$2,060$414
32 years$8,776$6,135$4,195$2,816$1,863$351
33 years$8,417$5,810$3,917$2,590$1,686$298
34 years$8,080$5,506$3,660$2,383$1,527$253
35 years$7,763$5,223$3,422$2,194$1,383$215
36 years$7,465$4,957$3,201$2,020$1,253$182
37 years$7,183$4,708$2,996$1,861$1,136$155
38 years$6,917$4,474$2,806$1,716$1,030$132
39 years$6,664$4,255$2,629$1,582$934$112
40 years$6,426$4,048$2,464$1,459$847$95
41 years$6,199$3,853$2,310$1,346$768$81
42 years$5,984$3,670$2,167$1,242$697$69
43 years$5,779$3,497$2,033$1,147$633$58
44 years$5,584$3,333$1,909$1,059$574$49
45 years$5,399$3,178$1,792$978$521$42
46 years$5,222$3,032$1,683$903$473$36
47 years$5,053$2,893$1,581$835$430$30
48 years$4,891$2,762$1,486$771$390$26
49 years$4,737$2,638$1,397$713$355$22
50 years$4,589$2,520$1,313$659$322$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $4,700,000, adding $2,750 every year, while hoping to spend $49,394 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: 39/45/16 Blend
55$4,700,000$4,700,000$4,700,000$4,700,000
56$5,182,237$4,933,137$4,860,287$5,359,415
57$5,658,270$5,122,305$4,970,551$5,675,257
58$6,181,203$5,319,088$5,082,855$6,011,576
59$6,755,768$5,523,806$5,197,212$6,374,174
60$7,387,177$5,736,793$5,313,640$6,765,453
61$8,081,173$5,958,399$5,432,150$7,188,047
62$8,844,082$6,188,990$5,552,757$7,644,850
63$9,682,875$6,428,947$5,675,471$8,139,040
64$10,605,230$6,678,668$5,800,301$8,674,106
65$11,619,609$6,938,568$5,927,257$9,253,884
66$12,735,333$7,209,082$6,056,344$9,882,584
67$13,962,673$7,490,663$6,187,567$10,564,836
68$15,312,943$7,783,783$6,320,928$11,305,727
69$16,798,613$8,088,938$6,456,429$12,110,849
70$18,433,419$8,406,643$6,594,066$12,986,350
71$20,232,497$8,737,439$6,733,838$13,938,989
72$22,212,527$9,081,887$6,875,735$14,976,199
73$24,391,882$9,440,578$7,019,751$16,106,154
74$26,790,814$9,814,125$7,165,872$17,337,845
75$29,431,631$10,203,172$7,314,083$18,681,161
76$32,338,918$10,608,388$7,464,365$20,146,983
77$35,539,765$11,030,476$7,616,699$21,747,280
78$39,064,020$11,470,168$7,771,057$23,495,222
79$42,944,573$11,928,230$7,927,410$25,405,302
80$47,217,667$12,405,461$8,085,727$27,493,469
81$51,923,239$12,902,699$8,245,968$29,777,275
82$57,105,294$13,420,816$8,408,093$32,276,039
83$62,812,325$13,960,726$8,572,054$35,011,025
84$69,097,764$14,523,384$8,737,800$38,005,641
85$76,020,494$15,109,787$8,905,274$41,285,654
86$83,645,396$15,720,979$9,074,414$44,879,432
87$92,043,970$16,358,050$9,245,150$48,818,207
88$101,295,001$17,022,140$9,417,408$53,136,365
89$111,485,306$17,714,441$9,591,106$57,871,769
90$122,710,557$18,436,198$9,766,158$63,066,109
91$135,076,176$19,188,714$9,942,467$68,765,294
92$148,698,337$19,973,352$10,119,930$75,019,879
93$163,705,056$20,791,535$10,298,437$81,885,537
94$180,237,405$21,644,753$10,477,867$89,423,582
95$198,450,838$22,534,563$10,658,093$97,701,539
96$218,516,661$23,462,595$10,838,977$106,793,778
97$240,623,649$24,430,551$11,020,372$116,782,211
98$264,979,826$25,440,212$11,202,119$127,757,058
99$291,814,429$26,493,443$11,384,050$139,817,692
100$321,380,071$27,592,193$11,565,986$153,073,573