Can I retire at age 56 with 6,000,000?

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 $6,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$495,474$491,061$486,755$482,552$478,448$473,058
2 years$245,284$240,716$236,289$231,996$227,833$222,406
3 years$161,899$157,311$152,895$148,642$144,546$139,252
4 years$120,214$115,640$111,268$107,088$103,092$97,971
5 years$95,210$90,663$86,349$82,254$78,369$73,436
6 years$78,545$74,033$69,782$65,779$62,010$57,272
7 years$66,647$62,173$57,990$54,081$50,431$45,888
8 years$57,728$53,294$49,180$45,367$41,837$37,490
9 years$50,794$46,402$42,359$38,643$35,233$31,080
10 years$45,250$40,901$36,929$33,310$30,020$26,059
11 years$40,717$36,412$32,512$28,990$25,819$22,045
12 years$36,942$32,681$28,853$25,428$22,374$18,784
13 years$33,751$29,534$25,779$22,449$19,510$16,100
14 years$31,018$26,846$23,162$19,928$17,103$13,867
15 years$28,651$24,524$20,912$17,772$15,059$11,992
16 years$26,582$22,500$18,960$15,913$13,309$10,407
17 years$24,759$20,722$17,253$14,298$11,801$9,057
18 years$23,140$19,148$15,750$12,885$10,492$7,902
19 years$21,693$17,746$14,418$11,643$9,352$6,909
20 years$20,392$16,491$13,232$10,545$8,354$6,052
21 years$19,217$15,360$12,171$9,570$7,475$5,310
22 years$18,150$14,338$11,218$8,701$6,701$4,665
23 years$17,177$13,410$10,357$7,925$6,015$4,104
24 years$16,287$12,565$9,579$7,228$5,406$3,613
25 years$15,469$11,791$8,872$6,601$4,865$3,185
26 years$14,715$11,082$8,228$6,035$4,382$2,809
27 years$14,018$10,429$7,641$5,524$3,951$2,479
28 years$13,373$9,828$7,103$5,061$3,565$2,190
29 years$12,773$9,271$6,610$4,641$3,219$1,935
30 years$12,213$8,756$6,157$4,260$2,909$1,711
31 years$11,691$8,277$5,740$3,912$2,630$1,513
32 years$11,203$7,832$5,355$3,595$2,379$1,339
33 years$10,745$7,417$5,000$3,306$2,153$1,185
34 years$10,315$7,029$4,672$3,042$1,949$1,049
35 years$9,911$6,667$4,368$2,800$1,765$929
36 years$9,529$6,328$4,086$2,579$1,599$823
37 years$9,170$6,010$3,825$2,376$1,450$729
38 years$8,830$5,712$3,582$2,190$1,314$646
39 years$8,508$5,432$3,356$2,020$1,192$573
40 years$8,203$5,168$3,145$1,863$1,081$507
41 years$7,914$4,919$2,949$1,719$981$450
42 years$7,639$4,685$2,766$1,586$890$399
43 years$7,378$4,464$2,596$1,464$808$354
44 years$7,129$4,255$2,437$1,352$733$314
45 years$6,892$4,057$2,288$1,248$666$278
46 years$6,666$3,871$2,149$1,153$604$247
47 years$6,450$3,694$2,019$1,065$549$219
48 years$6,244$3,526$1,897$985$498$194
49 years$6,047$3,367$1,783$910$453$172
50 years$5,858$3,217$1,677$841$411$153

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,000,000, adding $6,972 every year, while hoping to spend $50,188 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: 35/45/20 Blend
55$6,000,000$6,000,000$6,000,000$6,000,000
56$6,619,192$6,301,192$6,208,192$6,810,269
57$7,240,950$6,556,550$6,362,766$7,206,479
58$7,924,445$6,822,740$6,520,837$7,628,540
59$8,675,921$7,100,237$6,682,469$8,082,898
60$9,502,259$7,389,542$6,847,725$8,572,456
61$10,411,036$7,691,177$7,016,671$9,100,399
62$11,410,605$8,005,688$7,189,372$9,670,218
63$12,510,166$8,333,645$7,365,895$10,285,744
64$13,719,855$8,675,647$7,546,306$10,951,185
65$15,050,843$9,032,316$7,730,670$11,671,155
66$16,515,437$9,404,307$7,919,054$12,450,725
67$18,127,194$9,792,301$8,111,526$13,295,460
68$19,901,058$10,197,014$8,308,151$14,211,474
69$21,853,489$10,619,191$8,508,998$15,205,483
70$24,002,628$11,059,614$8,714,133$16,284,867
71$26,368,462$11,519,101$8,923,622$17,457,733
72$28,973,015$11,998,506$9,137,532$18,732,995
73$31,840,553$12,498,724$9,355,930$20,120,447
74$34,997,817$13,020,689$9,578,882$21,630,860
75$38,474,272$13,565,381$9,806,452$23,276,073
76$42,302,386$14,133,822$10,038,707$25,069,106
77$46,517,935$14,727,086$10,275,709$27,024,277
78$51,160,343$15,346,291$10,517,524$29,157,334
79$56,273,050$15,992,611$10,764,213$31,485,599
80$61,903,925$16,667,273$11,015,838$34,028,128
81$68,105,717$17,371,561$11,272,460$36,805,883
82$74,936,550$18,106,818$11,534,138$39,841,930
83$82,460,476$18,874,450$11,800,929$43,161,650
84$90,748,076$19,675,929$12,072,891$46,792,973
85$99,877,124$20,512,794$12,350,077$50,766,633
86$109,933,326$21,386,656$12,632,541$55,116,461
87$121,011,126$22,299,204$12,920,332$59,879,690
88$133,214,597$23,252,201$13,213,499$65,097,303
89$146,658,423$24,247,495$13,512,088$70,814,417
90$161,468,981$25,287,021$13,816,141$77,080,698
91$177,785,534$26,372,802$14,125,699$83,950,823
92$195,761,548$27,506,959$14,440,800$91,484,993
93$215,566,134$28,691,709$14,761,475$99,749,487
94$237,385,652$29,929,374$15,087,756$108,817,288
95$261,425,460$31,222,385$15,419,668$118,768,756
96$287,911,863$32,573,288$15,757,233$129,692,382
97$317,094,241$33,984,747$16,100,468$141,685,615
98$349,247,405$35,459,551$16,449,385$154,855,768
99$384,674,193$37,000,622$16,803,992$169,321,026
100$423,708,326$38,611,017$17,164,291$185,211,551