Can I retire at age 56 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$511,990$507,430$502,980$498,637$494,397$478,379
2 years$253,460$248,740$244,165$239,729$235,427$219,440
3 years$167,295$162,554$157,991$153,597$149,365$133,910
4 years$124,221$119,495$114,977$110,658$106,528$91,724
5 years$98,383$93,685$89,227$84,996$80,981$66,867
6 years$81,164$76,501$72,109$67,972$64,077$50,665
7 years$68,869$64,245$59,923$55,883$52,112$39,400
8 years$59,652$55,070$50,819$46,879$43,232$31,212
9 years$52,487$47,949$43,770$39,931$36,408$25,065
10 years$46,758$42,264$38,160$34,421$31,021$20,338
11 years$42,074$37,625$33,596$29,956$26,679$16,636
12 years$38,174$33,771$29,815$26,276$23,120$13,695
13 years$34,876$30,519$26,638$23,198$20,161$11,331
14 years$32,052$27,741$23,934$20,592$17,673$9,414
15 years$29,606$25,342$21,609$18,365$15,561$7,847
16 years$27,468$23,250$19,592$16,443$13,752$6,559
17 years$25,584$21,413$17,828$14,774$12,194$5,494
18 years$23,911$19,786$16,275$13,315$10,842$4,611
19 years$22,416$18,338$14,899$12,031$9,664$3,876
20 years$21,072$17,040$13,673$10,896$8,632$3,263
21 years$19,857$15,872$12,577$9,889$7,725$2,749
22 years$18,755$14,816$11,591$8,991$6,924$2,318
23 years$17,750$13,857$10,703$8,189$6,215$1,957
24 years$16,830$12,984$9,898$7,469$5,587$1,652
25 years$15,985$12,184$9,168$6,821$5,027$1,396
26 years$15,206$11,451$8,503$6,237$4,528$1,180
27 years$14,486$10,777$7,895$5,708$4,083$998
28 years$13,818$10,155$7,340$5,230$3,684$844
29 years$13,198$9,580$6,830$4,796$3,326$715
30 years$12,621$9,048$6,362$4,402$3,006$605
31 years$12,081$8,553$5,931$4,043$2,717$512
32 years$11,576$8,093$5,534$3,715$2,458$434
33 years$11,103$7,664$5,167$3,416$2,224$367
34 years$10,659$7,264$4,828$3,143$2,014$311
35 years$10,241$6,890$4,514$2,894$1,824$263
36 years$9,847$6,539$4,222$2,665$1,653$223
37 years$9,475$6,211$3,952$2,455$1,498$189
38 years$9,124$5,902$3,701$2,263$1,358$160
39 years$8,791$5,613$3,467$2,087$1,232$136
40 years$8,476$5,340$3,250$1,925$1,117$115
41 years$8,177$5,083$3,047$1,776$1,013$97
42 years$7,894$4,841$2,859$1,639$920$82
43 years$7,624$4,612$2,682$1,513$835$70
44 years$7,366$4,397$2,518$1,397$758$59
45 years$7,122$4,193$2,364$1,290$688$50
46 years$6,888$4,000$2,221$1,192$624$43
47 years$6,665$3,817$2,086$1,101$567$36
48 years$6,452$3,644$1,960$1,017$515$31
49 years$6,248$3,480$1,843$940$468$26
50 years$6,053$3,324$1,732$869$425$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,200,000, adding $5,102 every year, while hoping to spend $25,325 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: 40/42/18 Blend
55$6,200,000$6,200,000$6,200,000$6,200,000
56$6,837,663$6,509,063$6,412,963$7,074,453
57$7,508,159$6,801,061$6,600,851$7,535,781
58$8,246,197$7,106,519$6,794,185$8,031,709
59$9,058,639$7,426,068$6,993,121$8,567,688
60$9,953,047$7,760,373$7,197,817$9,147,371
61$10,937,753$8,110,126$7,408,440$9,774,769
62$12,021,938$8,476,057$7,625,157$10,454,281
63$13,215,719$8,858,927$7,848,143$11,190,733
64$14,530,244$9,259,536$8,077,577$11,989,426
65$15,977,795$9,678,719$8,313,642$12,856,177
66$17,571,909$10,117,355$8,556,528$13,797,374
67$19,327,500$10,576,362$8,806,428$14,820,032
68$21,261,004$11,056,703$9,063,542$15,931,858
69$23,390,532$11,559,387$9,328,076$17,141,318
70$25,736,040$12,085,470$9,600,240$18,457,714
71$28,319,519$12,636,062$9,880,252$19,891,267
72$31,165,203$13,212,322$10,168,334$21,453,214
73$34,299,796$13,815,467$10,464,714$23,155,903
74$37,752,722$14,446,773$10,769,630$25,012,911
75$41,556,409$15,107,574$11,083,322$27,039,165
76$45,746,589$15,799,271$11,406,039$29,251,079
77$50,362,637$16,523,331$11,738,037$31,666,704
78$55,447,944$17,281,292$12,079,579$34,305,894
79$61,050,324$18,074,765$12,430,935$37,190,483
80$67,222,467$18,905,439$12,792,382$40,344,496
81$74,022,437$19,775,084$13,164,205$43,794,358
82$81,514,217$20,685,555$13,546,697$47,569,145
83$89,768,316$21,638,796$13,940,160$51,700,851
84$98,862,432$22,636,844$14,344,903$56,224,679
85$108,882,186$23,681,836$14,761,244$61,179,374
86$119,921,933$24,776,010$15,189,509$66,607,572
87$132,085,648$25,921,711$15,630,035$72,556,202
88$145,487,909$27,121,400$16,083,166$79,076,919
89$160,254,981$28,377,654$16,549,258$86,226,581
90$176,526,004$29,693,175$17,028,673$94,067,780
91$194,454,310$31,070,793$17,521,787$102,669,422
92$214,208,866$32,513,479$18,028,984$112,107,367
93$235,975,874$34,024,343$18,550,658$122,465,137
94$259,960,525$35,606,648$19,087,217$133,834,693
95$286,388,936$37,263,811$19,639,076$146,317,292
96$315,510,286$38,999,416$20,206,664$160,024,431
97$347,599,170$40,817,222$20,790,421$175,078,888
98$382,958,184$42,721,165$21,390,800$191,615,867
99$421,920,791$44,715,374$22,008,264$209,784,264
100$464,854,462$46,804,177$22,643,290$229,748,055