Can I retire at age 56 with 6,500,000?

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 $6,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$536,764$531,983$527,318$522,765$518,319$500,327
2 years$265,725$260,776$255,980$251,329$246,819$228,878
3 years$175,390$170,420$165,636$161,029$156,592$139,266
4 years$130,232$125,277$120,540$116,012$111,683$95,104
5 years$103,144$98,218$93,544$89,109$84,899$69,112
6 years$85,091$80,203$75,598$71,261$67,178$52,194
7 years$72,201$67,354$62,822$58,588$54,634$40,451
8 years$62,538$57,735$53,278$49,148$45,324$31,930
9 years$55,027$50,269$45,888$41,863$38,169$25,548
10 years$49,021$44,309$40,007$36,086$32,522$20,652
11 years$44,110$39,446$35,221$31,406$27,970$16,828
12 years$40,021$35,405$31,258$27,547$24,238$13,797
13 years$36,563$31,995$27,927$24,320$21,136$11,369
14 years$33,602$29,083$25,092$21,589$18,528$9,406
15 years$31,039$26,568$22,655$19,253$16,313$7,807
16 years$28,797$24,375$20,540$17,239$14,418$6,497
17 years$26,822$22,449$18,691$15,489$12,784$5,419
18 years$25,068$20,744$17,062$13,959$11,367$4,528
19 years$23,500$19,225$15,620$12,613$10,132$3,789
20 years$22,091$17,865$14,335$11,424$9,050$3,174
21 years$20,818$16,640$13,185$10,368$8,098$2,662
22 years$19,662$15,533$12,152$9,427$7,259$2,235
23 years$18,609$14,528$11,221$8,585$6,516$1,877
24 years$17,644$13,612$10,377$7,830$5,857$1,578
25 years$16,758$12,774$9,611$7,151$5,270$1,327
26 years$15,941$12,005$8,914$6,538$4,747$1,116
27 years$15,187$11,299$8,277$5,985$4,280$939
28 years$14,487$10,647$7,695$5,483$3,862$791
29 years$13,837$10,044$7,161$5,028$3,487$666
30 years$13,231$9,485$6,670$4,615$3,151$561
31 years$12,666$8,967$6,218$4,238$2,849$472
32 years$12,137$8,484$5,802$3,895$2,577$398
33 years$11,641$8,035$5,417$3,582$2,332$335
34 years$11,175$7,615$5,061$3,296$2,111$283
35 years$10,736$7,223$4,732$3,034$1,912$238
36 years$10,324$6,856$4,427$2,794$1,733$201
37 years$9,934$6,511$4,143$2,574$1,570$169
38 years$9,565$6,188$3,880$2,373$1,424$143
39 years$9,217$5,884$3,635$2,188$1,291$120
40 years$8,887$5,598$3,407$2,018$1,171$101
41 years$8,573$5,329$3,195$1,862$1,062$85
42 years$8,275$5,075$2,997$1,718$964$72
43 years$7,992$4,836$2,812$1,586$875$61
44 years$7,723$4,609$2,640$1,465$794$51
45 years$7,466$4,395$2,479$1,353$721$43
46 years$7,221$4,193$2,328$1,249$655$36
47 years$6,988$4,002$2,187$1,154$594$31
48 years$6,764$3,820$2,055$1,067$540$26
49 years$6,551$3,648$1,932$986$490$22
50 years$6,346$3,485$1,816$911$445$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,500,000, adding $5,551 every year, while hoping to spend $30,176 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: 52/33/15 Blend
55$6,500,000$6,500,000$6,500,000$6,500,000
56$7,168,726$6,824,226$6,723,476$7,512,191
57$7,867,829$7,126,506$6,916,605$8,050,193
58$8,637,229$7,442,586$7,115,193$8,631,369
59$9,484,065$7,773,111$7,319,390$9,262,791
60$10,416,202$8,118,756$7,529,352$9,949,224
61$11,442,306$8,480,227$7,745,238$10,695,903
62$12,571,929$8,858,266$7,967,211$11,508,584
63$13,815,592$9,253,647$8,195,439$12,393,591
64$15,184,891$9,667,184$8,430,094$13,357,876
65$16,692,601$10,099,728$8,671,354$14,409,082
66$18,352,802$10,552,170$8,919,399$15,555,615
67$20,181,006$11,025,444$9,174,417$16,806,716
68$22,194,307$11,520,530$9,436,600$18,172,549
69$24,411,543$12,038,453$9,706,142$19,664,295
70$26,853,470$12,580,286$9,983,247$21,294,250
71$29,542,960$13,147,156$10,268,122$23,075,944
72$32,505,216$13,740,241$10,560,978$25,024,259
73$35,768,012$14,360,777$10,862,035$27,155,573
74$39,361,952$15,010,057$11,171,516$29,487,907
75$43,320,760$15,689,439$11,489,651$32,041,090
76$47,681,600$16,400,344$11,816,676$34,836,948
77$52,485,421$17,144,259$12,152,833$37,899,499
78$57,777,352$17,922,746$12,498,371$41,255,182
79$63,607,120$18,737,438$12,853,544$44,933,100
80$70,029,524$19,590,050$13,218,615$48,965,286
81$77,104,948$20,482,376$13,593,852$53,387,008
82$84,899,937$21,416,296$13,979,531$58,237,091
83$93,487,819$22,393,783$14,375,933$63,558,283
84$102,949,400$23,416,902$14,783,350$69,397,648
85$113,373,725$24,487,816$15,202,078$75,807,009
86$124,858,921$25,608,795$15,632,424$82,843,428
87$137,513,121$26,782,216$16,074,701$90,569,743
88$151,455,485$28,010,571$16,529,229$99,055,148
89$166,817,325$29,296,469$16,996,338$108,375,846
90$183,743,344$30,642,648$17,476,368$118,615,758
91$202,393,003$32,051,976$17,969,664$129,867,307
92$222,942,024$33,527,457$18,476,582$142,232,286
93$245,584,050$35,072,242$18,997,487$155,822,807
94$270,532,474$36,689,633$19,532,754$170,762,353
95$298,022,451$38,383,090$20,082,766$187,186,936
96$328,313,119$40,156,239$20,647,917$205,246,368
97$361,690,045$42,012,883$21,228,610$225,105,670
98$398,467,921$43,957,006$21,825,260$246,946,616
99$438,993,534$45,992,783$22,438,290$270,969,440
100$483,649,038$48,124,593$23,068,137$297,394,717