Can I retire at age 56 with 6,300,000?

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 $6,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$520,248$515,614$511,093$506,680$502,371$485,707
2 years$257,549$252,752$248,103$243,596$239,224$222,597
3 years$169,994$165,176$160,539$156,074$151,774$135,705
4 years$126,225$121,422$116,831$112,443$108,246$92,860
5 years$99,970$95,196$90,666$86,367$82,287$67,624
6 years$82,473$77,735$73,272$69,068$65,111$51,183
7 years$69,980$65,282$60,889$56,785$52,953$39,757
8 years$60,614$55,958$51,639$47,635$43,929$31,457
9 years$53,333$48,722$44,476$40,575$36,995$25,231
10 years$47,512$42,946$38,776$34,976$31,521$20,447
11 years$42,753$38,232$34,137$30,439$27,110$16,704
12 years$38,789$34,315$30,296$26,700$23,493$13,732
13 years$35,438$31,011$27,068$23,572$20,486$11,347
14 years$32,569$28,188$24,320$20,924$17,958$9,413
15 years$30,084$25,750$21,958$18,661$15,812$7,836
16 years$27,911$23,625$19,908$16,709$13,974$6,540
17 years$25,997$21,758$18,116$15,013$12,391$5,470
18 years$24,297$20,106$16,537$13,529$11,017$4,584
19 years$22,777$18,634$15,139$12,225$9,820$3,848
20 years$21,412$17,315$13,894$11,072$8,771$3,234
21 years$20,178$16,128$12,780$10,049$7,849$2,720
22 years$19,057$15,055$11,778$9,136$7,036$2,291
23 years$18,036$14,081$10,875$8,321$6,316$1,930
24 years$17,101$13,193$10,058$7,589$5,677$1,628
25 years$16,242$12,381$9,316$6,931$5,108$1,373
26 years$15,451$11,636$8,640$6,337$4,601$1,159
27 years$14,719$10,951$8,023$5,801$4,148$978
28 years$14,041$10,319$7,458$5,315$3,743$826
29 years$13,411$9,735$6,940$4,874$3,380$698
30 years$12,824$9,193$6,465$4,473$3,054$590
31 years$12,276$8,691$6,027$4,108$2,761$499
32 years$11,763$8,223$5,623$3,775$2,498$421
33 years$11,282$7,788$5,250$3,472$2,260$356
34 years$10,831$7,381$4,906$3,194$2,047$301
35 years$10,406$7,001$4,586$2,940$1,854$255
36 years$10,006$6,645$4,291$2,708$1,679$215
37 years$9,628$6,311$4,016$2,495$1,522$182
38 years$9,271$5,998$3,761$2,300$1,380$154
39 years$8,933$5,703$3,523$2,121$1,251$130
40 years$8,613$5,426$3,302$1,956$1,135$110
41 years$8,309$5,165$3,097$1,805$1,030$93
42 years$8,021$4,919$2,905$1,665$934$79
43 years$7,746$4,687$2,726$1,537$848$67
44 years$7,485$4,468$2,559$1,419$770$56
45 years$7,236$4,260$2,402$1,311$699$48
46 years$6,999$4,064$2,256$1,211$634$40
47 years$6,773$3,878$2,120$1,119$576$34
48 years$6,556$3,702$1,992$1,034$523$29
49 years$6,349$3,536$1,872$955$475$24
50 years$6,151$3,377$1,760$883$432$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,300,000, adding $2,641 every year, while hoping to spend $26,963 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: 29/43/28 Blend
55$6,300,000$6,300,000$6,300,000$6,300,000
56$6,945,324$6,611,424$6,513,774$7,086,594
57$7,625,059$6,906,696$6,703,297$7,493,742
58$8,373,223$7,215,532$6,898,266$7,928,621
59$9,196,767$7,538,568$7,098,833$8,395,618
60$10,103,352$7,876,472$7,305,158$8,897,526
61$11,101,416$8,229,942$7,517,404$9,437,406
62$12,200,260$8,599,708$7,735,736$10,018,608
63$13,410,130$8,986,538$7,960,327$10,644,801
64$14,742,319$9,391,234$8,191,354$11,320,008
65$16,209,269$9,814,638$8,428,997$12,048,637
66$17,824,689$10,257,629$8,673,443$12,835,521
67$19,603,687$10,721,133$8,924,883$13,685,959
68$21,562,911$11,206,117$9,183,515$14,605,766
69$23,720,704$11,713,593$9,449,539$15,601,319
70$26,097,281$12,244,624$9,723,164$16,679,618
71$28,714,917$12,800,324$10,004,603$17,848,346
72$31,598,157$13,381,858$10,294,075$19,115,935
73$34,774,048$13,990,448$10,591,806$20,491,647
74$38,272,395$14,627,375$10,898,026$21,985,650
75$42,126,043$15,293,980$11,212,973$23,609,116
76$46,371,184$15,991,669$11,536,892$25,374,315
77$51,047,700$16,721,916$11,870,034$27,294,731
78$56,199,540$17,486,265$12,212,655$29,385,180
79$61,875,135$18,286,333$12,565,020$31,661,945
80$68,127,853$19,123,817$12,927,402$34,142,926
81$75,016,503$20,000,494$13,300,080$36,847,799
82$82,605,894$20,918,226$13,683,340$39,798,200
83$90,967,440$21,878,964$14,077,476$43,017,916
84$100,179,840$22,884,754$14,482,793$46,533,109
85$110,329,817$23,937,740$14,899,600$50,372,550
86$121,512,938$25,040,169$15,328,216$54,567,886
87$133,834,516$26,194,395$15,768,969$59,153,932
88$147,410,603$27,402,888$16,222,197$64,168,985
89$162,369,088$28,668,233$16,688,244$69,655,183
90$178,850,901$29,993,141$17,167,465$75,658,891
91$197,011,343$31,380,456$17,660,226$82,231,127
92$217,021,557$32,833,155$18,166,900$89,428,037
93$239,070,136$34,354,360$18,687,872$97,311,412
94$263,364,911$35,947,345$19,223,537$105,949,260
95$290,134,906$37,615,538$19,774,299$115,416,437
96$319,632,504$39,362,537$20,340,575$125,795,343
97$352,135,827$41,192,110$20,922,793$137,176,685
98$387,951,365$43,108,207$21,521,390$149,660,318
99$427,416,865$45,114,969$22,136,817$163,356,179
100$470,904,521$47,216,739$22,769,537$178,385,305