Can I retire at age 56 with 5,800,000?

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 $5,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$478,959$474,692$470,530$466,467$462,500$446,623
2 years$237,108$232,692$228,413$224,263$220,238$204,404
3 years$156,502$152,067$147,798$143,688$139,728$124,435
4 years$116,207$111,785$107,559$103,519$99,655$85,019
5 years$92,036$87,641$83,470$79,512$75,756$61,816
6 years$75,927$71,566$67,456$63,587$59,943$46,710
7 years$64,426$60,101$56,057$52,278$48,750$36,221
8 years$55,803$51,517$47,540$43,855$40,443$28,608
9 years$49,101$44,855$40,947$37,355$34,059$22,904
10 years$43,742$39,538$35,698$32,200$29,020$18,526
11 years$39,360$35,198$31,428$28,024$24,958$15,105
12 years$35,711$31,592$27,892$24,580$21,628$12,393
13 years$32,626$28,550$24,919$21,701$18,860$10,219
14 years$29,984$25,951$22,390$19,264$16,533$8,460
15 years$27,696$23,707$20,215$17,180$14,557$7,027
16 years$25,696$21,750$18,328$15,383$12,865$5,852
17 years$23,933$20,031$16,678$13,821$11,407$4,885
18 years$22,368$18,510$15,225$12,456$10,143$4,084
19 years$20,970$17,155$13,938$11,255$9,040$3,420
20 years$19,712$15,941$12,791$10,193$8,075$2,868
21 years$18,576$14,848$11,765$9,251$7,226$2,407
22 years$17,545$13,860$10,844$8,411$6,477$2,022
23 years$16,605$12,963$10,012$7,660$5,814$1,700
24 years$15,744$12,146$9,260$6,987$5,226$1,430
25 years$14,953$11,398$8,576$6,381$4,703$1,203
26 years$14,225$10,713$7,954$5,834$4,236$1,013
27 years$13,551$10,082$7,386$5,340$3,819$853
28 years$12,927$9,500$6,866$4,893$3,446$719
29 years$12,347$8,962$6,390$4,487$3,112$606
30 years$11,806$8,464$5,952$4,118$2,812$511
31 years$11,302$8,001$5,549$3,782$2,542$431
32 years$10,830$7,571$5,177$3,476$2,299$363
33 years$10,387$7,170$4,834$3,196$2,081$306
34 years$9,971$6,795$4,516$2,941$1,884$258
35 years$9,580$6,445$4,222$2,707$1,706$218
36 years$9,212$6,117$3,950$2,493$1,546$184
37 years$8,864$5,810$3,697$2,297$1,401$155
38 years$8,535$5,522$3,462$2,117$1,270$131
39 years$8,224$5,250$3,244$1,952$1,152$110
40 years$7,930$4,995$3,040$1,801$1,045$93
41 years$7,650$4,755$2,851$1,661$948$79
42 years$7,384$4,529$2,674$1,533$860$66
43 years$7,132$4,315$2,509$1,415$781$56
44 years$6,891$4,113$2,355$1,307$709$47
45 years$6,662$3,922$2,212$1,207$643$40
46 years$6,444$3,742$2,077$1,115$584$34
47 years$6,235$3,571$1,952$1,030$530$28
48 years$6,036$3,409$1,834$952$482$24
49 years$5,845$3,255$1,724$880$437$20
50 years$5,663$3,109$1,621$813$397$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $5,800,000, adding $2,687 every year, while hoping to spend $47,431 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: 46/43/11 Blend
55$5,800,000$5,800,000$5,800,000$5,800,000
56$6,394,372$6,086,972$5,997,072$6,668,664
57$6,996,131$6,334,767$6,147,507$7,106,399
58$7,657,681$6,593,115$6,301,393$7,575,893
59$8,385,069$6,862,482$6,458,794$8,084,135
60$9,184,959$7,143,356$6,619,776$8,634,732
61$10,064,693$7,436,249$6,784,407$9,231,643
62$11,032,360$7,741,694$6,952,753$9,879,217
63$12,096,873$8,060,249$7,124,883$10,582,232
64$13,268,051$8,392,499$7,300,864$11,345,938
65$14,556,715$8,739,053$7,480,765$12,176,101
66$15,974,784$9,100,552$7,664,656$13,079,062
67$17,535,396$9,477,662$7,852,605$14,061,788
68$19,253,022$9,871,083$8,044,683$15,131,939
69$21,143,610$10,281,546$8,240,960$16,297,937
70$23,224,731$10,709,815$8,441,505$17,569,043
71$25,515,748$11,156,690$8,646,390$18,955,440
72$28,037,995$11,623,008$8,855,684$20,468,329
73$30,814,979$12,109,644$9,069,458$22,120,029
74$33,872,604$12,617,515$9,287,783$23,924,093
75$37,239,414$13,147,577$9,510,728$25,895,430
76$40,946,861$13,700,835$9,738,363$28,050,445
77$45,029,601$14,278,336$9,970,759$30,407,186
78$49,525,825$14,881,179$10,207,984$32,985,517
79$54,477,615$15,510,513$10,450,107$35,807,296
80$59,931,342$16,167,538$10,697,196$38,896,580
81$65,938,105$16,853,514$10,949,319$42,279,847
82$72,554,212$17,569,756$11,206,541$45,986,241
83$79,841,710$18,317,642$11,468,928$50,047,845
84$87,868,972$19,098,615$11,736,545$54,499,977
85$96,711,342$19,914,182$12,009,454$59,381,518
86$106,451,846$20,765,923$12,287,717$64,735,275
87$117,181,973$21,655,492$12,571,395$70,608,379
88$129,002,542$22,584,620$12,860,545$77,052,725
89$142,024,652$23,555,117$13,155,223$84,125,453
90$156,370,728$24,568,879$13,455,485$91,889,487
91$172,175,681$25,627,892$13,761,382$100,414,115
92$189,588,175$26,734,234$14,072,963$109,775,643
93$208,772,037$27,890,079$14,390,275$120,058,105
94$229,907,797$29,097,706$14,713,362$131,354,047
95$253,194,397$30,359,498$15,042,264$143,765,397
96$278,851,064$31,677,952$15,377,019$157,404,416
97$307,119,383$33,055,682$15,717,659$172,394,753
98$338,265,574$34,495,424$16,064,215$188,872,596
99$372,583,007$36,000,044$16,416,710$206,987,958
100$410,394,969$37,572,542$16,775,166$226,906,075