Can I retire at age 56 with 5,900,000?

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 $5,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$487,216$482,877$478,642$474,510$470,474$458,728
2 years$241,196$236,704$232,351$228,130$224,035$212,276
3 years$159,200$154,689$150,346$146,165$142,137$130,732
4 years$118,210$113,713$109,414$105,304$101,373$90,410
5 years$93,623$89,152$84,909$80,883$77,063$66,572
6 years$77,236$72,799$68,619$64,683$60,977$50,969
7 years$65,536$61,137$57,023$53,179$49,591$40,066
8 years$56,765$52,406$48,360$44,611$41,140$32,096
9 years$49,947$45,628$41,653$37,999$34,646$26,074
10 years$44,496$40,219$36,314$32,755$29,520$21,410
11 years$40,038$35,805$31,970$28,507$25,388$17,728
12 years$36,327$32,136$28,373$25,004$22,001$14,778
13 years$33,188$29,042$25,349$22,075$19,185$12,385
14 years$30,501$26,398$22,776$19,596$16,818$10,425
15 years$28,174$24,115$20,564$17,476$14,808$8,807
16 years$26,139$22,125$18,644$15,648$13,087$7,462
17 years$24,346$20,377$16,965$14,059$11,604$6,339
18 years$22,754$18,829$15,487$12,670$10,318$5,395
19 years$21,331$17,450$14,178$11,449$9,196$4,601
20 years$20,052$16,216$13,012$10,369$8,214$3,929
21 years$18,897$15,104$11,968$9,411$7,351$3,359
22 years$17,847$14,099$11,031$8,556$6,589$2,875
23 years$16,891$13,187$10,185$7,792$5,915$2,463
24 years$16,015$12,355$9,419$7,107$5,316$2,112
25 years$15,211$11,595$8,724$6,491$4,784$1,812
26 years$14,470$10,897$8,091$5,935$4,309$1,555
27 years$13,785$10,256$7,513$5,432$3,885$1,336
28 years$13,150$9,664$6,985$4,977$3,506$1,148
29 years$12,560$9,117$6,500$4,564$3,165$986
30 years$12,010$8,610$6,054$4,189$2,860$848
31 years$11,497$8,139$5,644$3,847$2,586$729
32 years$11,016$7,701$5,266$3,535$2,339$627
33 years$10,566$7,293$4,917$3,251$2,117$540
34 years$10,143$6,912$4,594$2,991$1,917$464
35 years$9,745$6,556$4,295$2,754$1,736$400
36 years$9,371$6,223$4,018$2,536$1,573$344
37 years$9,017$5,910$3,761$2,337$1,426$296
38 years$8,682$5,617$3,522$2,154$1,292$255
39 years$8,366$5,341$3,300$1,986$1,172$219
40 years$8,066$5,082$3,093$1,832$1,063$189
41 years$7,782$4,837$2,900$1,690$964$163
42 years$7,512$4,607$2,720$1,560$875$140
43 years$7,255$4,389$2,553$1,440$794$121
44 years$7,010$4,184$2,396$1,329$721$104
45 years$6,777$3,990$2,250$1,228$654$89
46 years$6,555$3,806$2,113$1,134$594$77
47 years$6,343$3,632$1,985$1,048$540$66
48 years$6,140$3,467$1,866$968$490$57
49 years$5,946$3,311$1,754$895$445$49
50 years$5,760$3,163$1,649$827$404$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $5,900,000, adding $2,631 every year, while hoping to spend $49,265 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: 30/43/27 Blend
55$5,900,000$5,900,000$5,900,000$5,900,000
56$6,504,514$6,191,814$6,100,364$6,645,445
57$7,115,557$6,442,795$6,252,308$7,006,413
58$7,787,275$6,704,423$6,407,692$7,389,955
59$8,525,805$6,977,168$6,566,578$7,801,579
60$9,337,908$7,261,521$6,729,030$8,243,762
61$10,231,034$7,557,994$6,895,111$8,719,214
62$11,213,389$7,867,126$7,064,887$9,230,909
63$12,294,017$8,189,477$7,238,423$9,782,109
64$13,482,880$8,525,634$7,415,783$10,376,389
65$14,790,955$8,876,212$7,597,033$11,017,675
66$16,230,337$9,241,852$7,782,239$11,710,274
67$17,814,354$9,623,225$7,971,466$12,458,911
68$19,557,689$10,021,034$8,164,782$13,268,778
69$21,476,522$10,436,013$8,362,250$14,145,572
70$23,588,680$10,868,930$8,563,938$15,095,553
71$25,913,808$11,320,590$8,769,912$16,125,596
72$28,473,549$11,791,832$8,980,237$17,243,255
73$31,291,755$12,283,535$9,194,979$18,456,828
74$34,394,705$12,796,620$9,414,202$19,775,439
75$37,811,359$13,332,048$9,637,972$21,209,112
76$41,573,626$13,890,827$9,866,353$22,768,870
77$45,716,668$14,474,010$10,099,408$24,466,829
78$50,279,231$15,082,698$10,337,200$26,316,314
79$55,304,007$15,718,045$10,579,791$28,331,978
80$60,838,044$16,381,258$10,827,242$30,529,934
81$66,933,183$17,073,598$11,079,613$32,927,908
82$73,646,550$17,796,387$11,336,963$35,545,399
83$81,041,096$18,551,008$11,599,349$38,403,858
84$89,186,187$19,338,907$11,866,827$41,526,885
85$98,158,263$20,161,598$12,139,450$44,940,451
86$108,041,556$21,020,666$12,417,271$48,673,131
87$118,928,886$21,917,770$12,700,341$52,756,374
88$130,922,537$22,854,645$12,988,707$57,224,793
89$144,135,221$23,833,109$13,282,415$62,116,482
90$158,691,146$24,855,062$13,581,507$67,473,374
91$174,727,179$25,922,497$13,886,024$73,341,627
92$192,394,148$27,037,496$14,196,003$79,772,056
93$211,858,259$28,202,242$14,511,477$86,820,601
94$233,302,667$29,419,017$14,832,477$94,548,852
95$256,929,203$30,690,212$15,159,029$103,024,622
96$282,960,279$32,018,331$15,491,154$112,322,573
97$311,640,991$33,405,992$15,828,871$122,524,923
98$343,241,426$34,855,940$16,172,192$133,722,204
99$378,059,217$36,371,046$16,521,126$146,014,111
100$416,422,349$37,954,319$16,875,675$159,510,433