Can I retire at age 56 with 6,600,000?

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 $6,600,000?

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$545,022$540,167$535,431$530,807$526,293$520,364
2 years$269,813$264,788$259,918$255,196$250,616$244,647
3 years$178,088$173,042$168,184$163,506$159,001$153,178
4 years$132,235$127,204$122,395$117,797$113,401$107,768
5 years$104,731$99,729$94,983$90,480$86,206$80,779
6 years$86,400$81,437$76,761$72,357$68,211$62,999
7 years$73,312$68,390$63,789$59,489$55,474$50,477
8 years$63,500$58,623$54,098$49,904$46,021$41,239
9 years$55,873$51,042$46,594$42,507$38,757$34,188
10 years$49,775$44,991$40,622$36,641$33,022$28,664
11 years$44,789$40,053$35,763$31,889$28,400$24,249
12 years$40,637$35,949$31,739$27,971$24,611$20,662
13 years$37,126$32,488$28,356$24,694$21,461$17,710
14 years$34,119$29,530$25,478$21,921$18,813$15,253
15 years$31,516$26,977$23,004$19,549$16,564$13,191
16 years$29,240$24,750$20,856$17,504$14,640$11,447
17 years$27,235$22,794$18,978$15,728$12,981$9,963
18 years$25,454$21,063$17,325$14,174$11,542$8,693
19 years$23,862$19,521$15,860$12,807$10,287$7,600
20 years$22,431$18,140$14,555$11,599$9,189$6,658
21 years$21,139$16,896$13,388$10,527$8,223$5,841
22 years$19,965$15,772$12,339$9,572$7,371$5,132
23 years$18,895$14,751$11,393$8,717$6,616$4,514
24 years$17,915$13,821$10,537$7,950$5,947$3,975
25 years$17,016$12,970$9,759$7,261$5,351$3,503
26 years$16,187$12,190$9,051$6,639$4,820$3,090
27 years$15,420$11,472$8,405$6,077$4,346$2,727
28 years$14,710$10,810$7,813$5,568$3,921$2,409
29 years$14,050$10,198$7,271$5,106$3,541$2,129
30 years$13,435$9,631$6,773$4,686$3,199$1,882
31 years$12,861$9,105$6,314$4,303$2,893$1,664
32 years$12,323$8,615$5,891$3,955$2,617$1,473
33 years$11,820$8,158$5,500$3,637$2,368$1,303
34 years$11,347$7,732$5,139$3,346$2,144$1,154
35 years$10,902$7,334$4,805$3,080$1,942$1,022
36 years$10,482$6,961$4,495$2,837$1,759$905
37 years$10,087$6,611$4,207$2,614$1,595$802
38 years$9,713$6,283$3,940$2,409$1,446$711
39 years$9,359$5,975$3,691$2,221$1,311$630
40 years$9,023$5,684$3,460$2,049$1,189$558
41 years$8,705$5,411$3,244$1,890$1,079$495
42 years$8,403$5,153$3,043$1,745$979$439
43 years$8,115$4,910$2,856$1,611$888$389
44 years$7,842$4,680$2,680$1,487$806$345
45 years$7,581$4,463$2,517$1,373$732$306
46 years$7,332$4,258$2,364$1,269$665$271
47 years$7,095$4,063$2,221$1,172$604$241
48 years$6,868$3,879$2,087$1,083$548$213
49 years$6,651$3,704$1,962$1,001$498$189
50 years$6,444$3,538$1,844$925$452$168

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,600,000, adding $6,988 every year, while hoping to spend $35,899 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: 52/27/21 Blend
55$6,600,000$6,600,000$6,600,000$6,600,000
56$7,280,408$6,930,608$6,828,308$7,616,375
57$7,984,813$7,232,012$7,018,860$8,150,078
58$8,759,865$7,546,981$7,214,593$8,725,992
59$9,612,731$7,876,142$7,415,641$9,351,672
60$10,551,309$8,220,153$7,622,144$10,031,861
61$11,584,301$8,579,699$7,834,245$10,771,771
62$12,721,296$8,955,501$8,052,089$11,577,133
63$13,972,860$9,348,312$8,275,825$12,454,247
64$15,350,634$9,758,922$8,505,608$13,410,040
65$16,867,447$10,188,156$8,741,593$14,452,133
66$18,537,432$10,636,882$8,983,942$15,588,905
67$20,376,165$11,106,004$9,232,819$16,829,574
68$22,400,808$11,596,472$9,488,393$18,184,279
69$24,630,272$12,109,281$9,750,836$19,664,178
70$27,085,396$12,645,472$10,020,325$21,281,544
71$29,789,142$13,206,136$10,297,042$23,049,885
72$32,766,813$13,792,415$10,581,171$24,984,063
73$36,046,290$14,405,506$10,872,902$27,100,437
74$39,658,297$15,046,661$11,172,431$29,417,009
75$43,636,691$15,717,195$11,479,955$31,953,596
76$48,018,779$16,418,483$11,795,678$34,732,010
77$52,845,670$17,151,964$12,119,809$37,776,263
78$58,162,667$17,919,149$12,452,561$41,112,787
79$64,019,690$18,721,619$12,794,153$44,770,686
80$70,471,749$19,561,029$13,144,808$48,781,999
81$77,579,462$20,439,114$13,504,754$53,182,004
82$85,409,630$21,357,693$13,874,226$58,009,546
83$94,035,862$22,318,670$14,253,462$63,307,399
84$103,539,275$23,324,040$14,642,708$69,122,663
85$114,009,256$24,375,893$15,042,214$75,507,208
86$125,544,308$25,476,420$15,452,236$82,518,156
87$138,252,978$26,627,915$15,873,037$90,218,415
88$152,254,882$27,832,782$16,304,883$98,677,270
89$167,681,832$29,093,541$16,748,049$107,971,028
90$184,679,086$30,412,831$17,202,816$118,183,735
91$203,406,712$31,793,419$17,669,469$129,407,962
92$224,041,101$33,238,201$18,148,301$141,745,675
93$246,776,636$34,750,215$18,639,611$155,309,186
94$271,827,520$36,332,644$19,143,706$170,222,212
95$299,429,804$37,988,820$19,660,897$186,621,030
96$329,843,612$39,722,240$20,191,505$204,655,762
97$363,355,594$41,536,564$20,735,854$224,491,778
98$400,281,639$43,435,630$21,294,280$246,311,254
99$440,969,849$45,423,459$21,867,121$270,314,880
100$485,803,831$47,504,265$22,454,726$296,723,747