Can I retire at age 56 with 6,800,000?

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 $6,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$561,538$556,536$551,656$546,893$542,242$527,635
2 years$277,989$272,812$267,794$262,929$258,210$243,599
3 years$183,485$178,285$173,280$168,461$163,819$149,660
4 years$136,242$131,059$126,104$121,367$116,837$103,239
5 years$107,904$102,752$97,862$93,221$88,818$75,818
6 years$89,018$83,904$79,087$74,550$70,279$57,890
7 years$75,534$70,463$65,722$61,292$57,155$45,379
8 years$65,425$60,400$55,737$51,416$47,416$36,245
9 years$57,566$52,589$48,006$43,795$39,931$29,355
10 years$51,283$46,354$41,853$37,752$34,023$24,029
11 years$46,146$41,267$36,847$32,855$29,261$19,834
12 years$41,868$37,039$32,701$28,819$25,357$16,479
13 years$38,251$33,472$29,216$25,442$22,112$13,764
14 years$35,153$30,425$26,250$22,585$19,383$11,546
15 years$32,471$27,794$23,701$20,142$17,066$9,720
16 years$30,127$25,500$21,488$18,035$15,083$8,207
17 years$28,060$23,485$19,553$16,204$13,374$6,946
18 years$26,225$21,701$17,850$14,603$11,891$5,890
19 years$24,585$20,112$16,341$13,195$10,599$5,004
20 years$23,111$18,689$14,997$11,951$9,467$4,257
21 years$21,779$17,408$13,794$10,846$8,472$3,626
22 years$20,570$16,250$12,713$9,862$7,594$3,091
23 years$19,467$15,198$11,738$8,981$6,817$2,638
24 years$18,458$14,240$10,856$8,191$6,127$2,253
25 years$17,531$13,364$10,055$7,481$5,514$1,925
26 years$16,677$12,560$9,325$6,840$4,966$1,646
27 years$15,888$11,820$8,659$6,261$4,478$1,408
28 years$15,156$11,138$8,050$5,736$4,040$1,205
29 years$14,476$10,507$7,491$5,260$3,648$1,031
30 years$13,842$9,923$6,978$4,828$3,296$883
31 years$13,250$9,381$6,505$4,434$2,980$756
32 years$12,697$8,876$6,070$4,075$2,696$648
33 years$12,178$8,406$5,667$3,747$2,440$555
34 years$11,690$7,967$5,295$3,448$2,209$475
35 years$11,232$7,556$4,950$3,174$2,001$407
36 years$10,800$7,172$4,631$2,923$1,813$349
37 years$10,392$6,812$4,335$2,693$1,643$299
38 years$10,007$6,474$4,059$2,482$1,489$257
39 years$9,642$6,156$3,803$2,289$1,351$220
40 years$9,297$5,857$3,565$2,111$1,225$189
41 years$8,969$5,575$3,342$1,948$1,111$162
42 years$8,657$5,309$3,135$1,798$1,009$139
43 years$8,361$5,059$2,942$1,659$915$119
44 years$8,079$4,822$2,762$1,532$831$102
45 years$7,811$4,598$2,593$1,415$754$87
46 years$7,555$4,387$2,435$1,307$685$75
47 years$7,310$4,186$2,288$1,208$622$64
48 years$7,076$3,996$2,150$1,116$565$55
49 years$6,853$3,816$2,021$1,031$513$47
50 years$6,639$3,645$1,900$953$466$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $6,800,000, adding $6,544 every year, while hoping to spend $41,364 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: 73/19/8 Blend
55$6,800,000$6,800,000$6,800,000$6,800,000
56$7,500,350$7,139,950$7,034,550$8,037,828
57$8,221,375$7,445,797$7,226,197$8,699,056
58$9,014,558$7,765,243$7,422,877$9,417,190
59$9,887,215$8,098,913$7,624,716$10,202,523
60$10,847,409$8,447,457$7,831,841$11,061,682
61$11,904,021$8,811,559$8,044,384$12,001,957
62$13,066,837$9,191,932$8,262,478$13,031,377
63$14,346,643$9,589,324$8,486,258$14,158,775
64$15,755,318$10,004,519$8,715,866$15,393,879
65$17,305,956$10,438,336$8,951,443$16,747,395
66$19,012,982$10,891,633$9,193,135$18,231,113
67$20,892,292$11,365,309$9,441,091$19,858,010
68$22,961,401$11,860,304$9,695,463$21,642,379
69$25,239,610$12,377,605$9,956,406$23,599,953
70$27,748,184$12,918,241$10,224,080$25,748,060
71$30,510,558$13,483,294$10,498,646$28,105,780
72$33,552,554$14,073,895$10,780,270$30,694,127
73$36,902,626$14,691,227$11,069,120$33,536,239
74$40,592,128$15,336,532$11,365,370$36,657,603
75$44,655,611$16,011,108$11,669,196$40,086,285
76$49,131,146$16,716,315$11,980,777$43,853,200
77$54,060,687$17,453,578$12,300,296$47,992,396
78$59,490,463$18,224,389$12,627,942$52,541,377
79$65,471,417$19,030,311$12,963,905$57,541,451
80$72,059,685$19,872,981$13,308,380$63,038,120
81$79,317,128$20,754,112$13,661,566$69,081,506
82$87,311,912$21,675,500$14,023,665$75,726,823
83$96,119,153$22,639,026$14,394,884$83,034,889
84$105,821,628$23,646,659$14,775,434$91,072,705
85$116,510,552$24,700,464$15,165,529$99,914,081
86$128,286,443$25,802,601$15,565,389$109,640,328
87$141,260,067$26,955,335$15,975,236$120,341,021
88$155,553,486$28,161,038$16,395,298$132,114,848
89$171,301,207$29,422,195$16,825,806$145,070,529
90$188,651,456$30,741,408$17,266,996$159,327,843
91$207,767,572$32,121,404$17,719,108$175,018,755
92$228,829,552$33,565,041$18,182,386$192,288,655
93$252,035,749$35,075,311$18,657,080$211,297,727
94$277,604,745$36,655,351$19,143,441$232,222,457
95$305,777,411$38,308,445$19,641,728$255,257,294
96$336,819,183$40,038,035$20,152,202$280,616,478
97$371,022,569$41,847,728$20,675,131$308,536,062
98$408,709,908$43,741,303$21,210,784$339,276,129
99$450,236,410$45,722,719$21,759,437$373,123,245
100$495,993,516$47,796,124$22,321,370$410,393,158