Can I retire at age 56 with 4,900,000?

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 $4,900,000?

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$404,637$401,033$397,517$394,084$390,733$388,596
2 years$200,316$196,585$192,969$189,464$186,063$183,907
3 years$132,217$128,470$124,864$121,391$118,046$115,938
4 years$98,175$94,439$90,869$87,456$84,192$82,147
5 years$77,754$74,042$70,518$67,174$64,001$62,026
6 years$64,145$60,461$56,989$53,720$50,642$48,739
7 years$54,429$50,775$47,358$44,166$41,185$39,356
8 years$47,144$43,523$40,163$37,050$34,167$32,411
9 years$41,482$37,895$34,593$31,558$28,774$27,090
10 years$36,954$33,402$30,159$27,203$24,517$22,905
11 years$33,252$29,736$26,551$23,675$21,085$19,545
12 years$30,170$26,690$23,564$20,766$18,272$16,801
13 years$27,563$24,120$21,053$18,334$15,934$14,531
14 years$25,331$21,924$18,916$16,274$13,967$12,631
15 years$23,398$20,028$17,078$14,514$12,298$11,027
16 years$21,709$18,375$15,484$12,996$10,869$9,661
17 years$20,220$16,923$14,090$11,676$9,637$8,490
18 years$18,897$15,638$12,862$10,523$8,569$7,482
19 years$17,716$14,493$11,775$9,508$7,638$6,608
20 years$16,654$13,467$10,806$8,612$6,822$5,847
21 years$15,694$12,544$9,940$7,816$6,105$5,184
22 years$14,822$11,710$9,161$7,106$5,472$4,602
23 years$14,028$10,952$8,459$6,472$4,912$4,091
24 years$13,301$10,261$7,823$5,903$4,415$3,642
25 years$12,633$9,630$7,245$5,391$3,973$3,245
26 years$12,017$9,050$6,720$4,929$3,579$2,893
27 years$11,448$8,517$6,240$4,512$3,227$2,582
28 years$10,921$8,026$5,801$4,134$2,911$2,306
29 years$10,431$7,571$5,398$3,791$2,629$2,061
30 years$9,974$7,150$5,028$3,479$2,375$1,843
31 years$9,548$6,760$4,688$3,195$2,148$1,649
32 years$9,149$6,396$4,374$2,936$1,943$1,476
33 years$8,775$6,057$4,084$2,700$1,758$1,322
34 years$8,424$5,741$3,816$2,484$1,592$1,184
35 years$8,094$5,445$3,567$2,287$1,442$1,061
36 years$7,782$5,168$3,337$2,106$1,306$951
37 years$7,489$4,908$3,123$1,941$1,184$852
38 years$7,211$4,665$2,925$1,789$1,073$764
39 years$6,948$4,436$2,740$1,649$973$685
40 years$6,699$4,220$2,569$1,521$883$615
41 years$6,463$4,017$2,408$1,404$801$552
42 years$6,238$3,826$2,259$1,295$727$495
43 years$6,025$3,645$2,120$1,196$660$444
44 years$5,822$3,475$1,990$1,104$599$399
45 years$5,628$3,314$1,869$1,020$544$358
46 years$5,444$3,161$1,755$942$493$321
47 years$5,268$3,017$1,649$870$448$289
48 years$5,099$2,880$1,549$804$407$259
49 years$4,938$2,750$1,456$743$370$233
50 years$4,784$2,627$1,369$687$336$209

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $4,900,000, adding $6,310 every year, while hoping to spend $25,698 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: 28/45/27 Blend
55$4,900,000$4,900,000$4,900,000$4,900,000
56$5,406,309$5,146,609$5,070,659$5,512,181
57$5,930,410$5,371,450$5,213,183$5,821,824
58$6,507,108$5,606,447$5,359,621$6,151,615
59$7,141,741$5,852,071$5,510,076$6,505,420
60$7,840,190$6,108,814$5,664,655$6,885,318
61$8,608,935$6,377,192$5,823,467$7,293,583
62$9,455,118$6,657,746$5,986,625$7,732,702
63$10,386,605$6,951,040$6,154,242$8,205,405
64$11,412,067$7,257,669$6,326,437$8,714,677
65$12,541,055$7,578,253$6,503,330$9,263,795
66$13,784,097$7,913,441$6,685,046$9,856,346
67$15,152,790$8,263,915$6,871,710$10,496,267
68$16,659,915$8,630,388$7,063,453$11,187,874
69$18,319,556$9,013,606$7,260,409$11,935,902
70$20,147,231$9,414,353$7,462,712$12,745,548
71$22,160,039$9,833,447$7,670,504$13,622,514
72$24,376,824$10,271,747$7,883,927$14,573,059
73$26,818,350$10,730,153$8,103,128$15,604,055
74$29,507,497$11,209,605$8,328,258$16,723,049
75$32,469,477$11,711,092$8,559,470$17,938,331
76$35,732,074$12,235,646$8,796,923$19,259,003
77$39,325,904$12,784,350$9,040,778$20,695,070
78$43,284,703$13,358,340$9,291,201$22,257,524
79$47,645,647$13,958,803$9,548,361$23,958,443
80$52,449,703$14,586,985$9,812,431$25,811,105
81$57,742,016$15,244,190$10,083,591$27,830,106
82$63,572,331$15,931,785$10,362,021$30,031,490
83$69,995,469$16,651,202$10,647,908$32,432,901
84$77,071,837$17,403,942$10,941,443$35,053,740
85$84,868,005$18,191,576$11,242,822$37,915,346
86$93,457,330$19,015,751$11,552,245$41,041,185
87$102,920,649$19,878,194$11,869,916$44,457,074
88$113,347,042$20,780,713$12,196,046$48,191,410
89$124,834,675$21,725,202$12,530,848$52,275,440
90$137,491,723$22,713,648$12,874,542$56,743,539
91$151,437,393$23,748,131$13,227,353$61,633,536
92$166,803,048$24,830,831$13,589,512$66,987,057
93$183,733,451$25,964,033$13,961,252$72,849,915
94$202,388,124$27,150,132$14,342,815$79,272,529
95$222,942,861$28,391,636$14,734,447$86,310,395
96$245,591,381$29,691,175$15,136,400$94,024,600
97$270,547,164$31,051,505$15,548,931$102,482,387
98$298,045,458$32,475,512$15,972,304$111,757,781
99$328,345,507$33,966,224$16,406,788$121,932,279
100$361,732,993$35,526,813$16,852,659$133,095,604