Can I retire at age 56 with 6,400,000?

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 $6,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$528,506$523,798$519,205$514,722$510,345$500,041
2 years$261,637$256,764$252,041$247,463$243,021$232,685
3 years$172,692$167,798$163,088$158,552$154,183$144,137
4 years$128,228$123,349$118,686$114,228$109,964$100,287
5 years$101,557$96,707$92,105$87,738$83,593$74,311
6 years$83,782$78,969$74,435$70,165$66,144$57,267
7 years$71,090$66,318$61,856$57,686$53,793$45,324
8 years$61,576$56,847$52,458$48,392$44,627$36,562
9 years$54,180$49,495$45,182$41,219$37,582$29,917
10 years$48,267$43,628$39,391$35,531$32,022$24,749
11 years$43,432$38,839$34,679$30,923$27,540$20,650
12 years$39,405$34,860$30,777$27,123$23,865$17,348
13 years$36,001$31,503$27,497$23,946$20,811$14,656
14 years$33,086$28,636$24,706$21,256$18,243$12,438
15 years$30,561$26,159$22,306$18,957$16,062$10,596
16 years$28,354$24,000$20,224$16,974$14,196$9,055
17 years$26,409$22,104$18,403$15,251$12,587$7,758
18 years$24,682$20,425$16,800$13,744$11,192$6,662
19 years$23,139$18,929$15,379$12,419$9,976$5,732
20 years$21,752$17,590$14,114$11,248$8,910$4,939
21 years$20,498$16,384$12,982$10,208$7,974$4,262
22 years$19,360$15,294$11,965$9,282$7,147$3,682
23 years$18,322$14,304$11,048$8,453$6,416$3,184
24 years$17,373$13,402$10,217$7,709$5,767$2,756
25 years$16,500$12,577$9,463$7,041$5,189$2,387
26 years$15,696$11,821$8,777$6,438$4,674$2,069
27 years$14,953$11,125$8,150$5,893$4,214$1,794
28 years$14,264$10,483$7,577$5,399$3,803$1,557
29 years$13,624$9,889$7,051$4,951$3,434$1,351
30 years$13,028$9,339$6,567$4,544$3,103$1,173
31 years$12,471$8,829$6,123$4,173$2,805$1,019
32 years$11,950$8,354$5,712$3,835$2,537$885
33 years$11,461$7,911$5,334$3,527$2,296$769
34 years$11,003$7,498$4,984$3,245$2,079$669
35 years$10,571$7,112$4,659$2,987$1,883$581
36 years$10,165$6,750$4,359$2,751$1,706$505
37 years$9,781$6,411$4,080$2,535$1,546$439
38 years$9,418$6,093$3,820$2,336$1,402$382
39 years$9,075$5,794$3,579$2,154$1,271$332
40 years$8,750$5,512$3,355$1,987$1,153$289
41 years$8,441$5,247$3,146$1,833$1,046$251
42 years$8,148$4,997$2,951$1,692$949$219
43 years$7,869$4,761$2,769$1,562$861$190
44 years$7,604$4,538$2,599$1,442$782$166
45 years$7,351$4,328$2,441$1,332$710$144
46 years$7,110$4,129$2,292$1,230$645$125
47 years$6,880$3,940$2,153$1,137$585$109
48 years$6,660$3,761$2,024$1,050$532$95
49 years$6,450$3,592$1,902$971$483$83
50 years$6,249$3,431$1,788$897$438$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,400,000, adding $4,916 every year, while hoping to spend $35,316 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: 61/24/15 Blend
55$6,400,000$6,400,000$6,400,000$6,400,000
56$7,057,871$6,718,671$6,619,471$7,461,717
57$7,740,198$7,010,310$6,803,647$8,025,735
58$8,490,938$7,315,055$6,992,810$8,636,539
59$9,317,033$7,633,513$7,187,088$9,302,246
60$10,226,131$7,966,315$7,386,616$10,028,177
61$11,226,657$8,314,125$7,591,529$10,820,185
62$12,327,898$8,677,638$7,801,966$11,684,708
63$13,540,082$9,057,582$8,018,071$12,628,828
64$14,874,483$9,454,716$8,239,989$13,660,337
65$16,343,523$9,869,840$8,467,871$14,787,811
66$17,960,888$10,303,788$8,701,870$16,020,682
67$19,741,660$10,757,434$8,942,144$17,369,334
68$21,702,456$11,231,695$9,188,853$18,845,194
69$23,861,588$11,727,530$9,442,161$20,460,838
70$26,239,235$12,245,943$9,702,238$22,230,109
71$28,857,630$12,787,988$9,969,256$24,168,246
72$31,741,274$13,354,765$10,243,392$26,292,024
73$34,917,165$13,947,430$10,524,827$28,619,909
74$38,415,053$14,567,191$10,813,746$31,172,233
75$42,267,720$15,215,315$11,110,338$33,971,383
76$46,511,290$15,893,128$11,414,797$37,042,004
77$51,185,571$16,602,021$11,727,322$40,411,238
78$56,334,428$17,343,449$12,048,116$44,108,969
79$62,006,198$18,118,936$12,377,386$48,168,107
80$68,254,146$18,930,080$12,715,345$52,624,894
81$75,136,970$19,778,555$13,062,210$57,519,241
82$82,719,351$20,666,113$13,418,203$62,895,106
83$91,072,563$21,594,592$13,783,552$68,800,897
84$100,275,153$22,565,915$14,158,489$75,289,937
85$110,413,672$23,582,099$14,543,252$82,420,950
86$121,583,500$24,645,254$14,938,084$90,258,623
87$133,889,740$25,757,595$15,343,233$98,874,205
88$147,448,215$26,921,439$15,758,953$108,346,177
89$162,386,559$28,139,216$16,185,505$118,760,989
90$178,845,422$29,413,470$16,623,152$130,213,870
91$196,979,794$30,746,870$17,072,167$142,809,723
92$216,960,474$32,142,208$17,532,826$156,664,108
93$238,975,679$33,602,413$18,005,412$171,904,331
94$263,232,821$35,130,553$18,490,216$188,670,633
95$289,960,461$36,729,843$18,987,531$207,117,515
96$319,410,475$38,403,652$19,497,660$227,415,188
97$351,860,422$40,155,510$20,020,910$249,751,170
98$387,616,172$41,989,116$20,557,597$274,332,052
99$427,014,786$43,908,348$21,108,042$301,385,441
100$470,427,705$45,917,268$21,672,572$331,162,099