Can I retire at age 56 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$602,827$597,458$592,219$587,105$582,112$570,359
2 years$298,429$292,871$287,485$282,262$277,196$265,407
3 years$196,977$191,395$186,022$180,848$175,865$164,406
4 years$146,260$140,695$135,376$130,291$125,428$114,390
5 years$115,838$110,307$105,057$100,076$95,349$84,761
6 years$95,564$90,074$84,902$80,031$75,446$65,321
7 years$81,087$75,644$70,554$65,798$61,358$51,697
8 years$70,235$64,841$59,835$55,197$50,902$41,703
9 years$61,799$56,456$51,536$47,015$42,867$34,124
10 years$55,054$49,763$44,930$40,528$36,525$28,229
11 years$49,539$44,301$39,556$35,271$31,413$23,554
12 years$44,947$39,762$35,105$30,938$27,221$19,788
13 years$41,064$35,933$31,364$27,313$23,738$16,717
14 years$37,738$32,662$28,181$24,246$20,808$14,187
15 years$34,859$29,838$25,443$21,623$18,321$12,086
16 years$32,342$27,376$23,068$19,361$16,192$10,328
17 years$30,123$25,212$20,991$17,396$14,357$8,849
18 years$28,153$23,297$19,162$15,677$12,766$7,599
19 years$26,393$21,591$17,542$14,165$11,378$6,538
20 years$24,810$20,064$16,099$12,830$10,163$5,634
21 years$23,381$18,689$14,808$11,644$9,095$4,862
22 years$22,082$17,445$13,648$10,587$8,153$4,200
23 years$20,899$16,316$12,602$9,642$7,318$3,632
24 years$19,816$15,287$11,654$8,794$6,578$3,144
25 years$18,821$14,346$10,794$8,031$5,919$2,723
26 years$17,904$13,483$10,011$7,343$5,332$2,360
27 years$17,056$12,689$9,296$6,721$4,807$2,047
28 years$16,270$11,957$8,642$6,158$4,337$1,776
29 years$15,540$11,280$8,042$5,647$3,916$1,541
30 years$14,860$10,653$7,491$5,183$3,539$1,338
31 years$14,225$10,070$6,984$4,760$3,199$1,162
32 years$13,630$9,529$6,516$4,374$2,894$1,010
33 years$13,073$9,024$6,084$4,023$2,619$877
34 years$12,550$8,552$5,684$3,701$2,371$763
35 years$12,058$8,112$5,314$3,407$2,148$663
36 years$11,594$7,699$4,972$3,138$1,946$576
37 years$11,156$7,313$4,653$2,891$1,764$501
38 years$10,743$6,950$4,358$2,665$1,599$436
39 years$10,351$6,608$4,083$2,457$1,450$379
40 years$9,980$6,287$3,827$2,266$1,315$330
41 years$9,628$5,985$3,588$2,091$1,193$287
42 years$9,294$5,700$3,366$1,930$1,083$250
43 years$8,976$5,431$3,158$1,781$983$217
44 years$8,673$5,177$2,965$1,645$892$189
45 years$8,385$4,936$2,784$1,519$810$164
46 years$8,110$4,709$2,615$1,403$735$143
47 years$7,848$4,494$2,456$1,296$668$124
48 years$7,597$4,290$2,308$1,198$606$108
49 years$7,357$4,097$2,170$1,107$551$94
50 years$7,127$3,913$2,040$1,023$500$82

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,300,000, adding $4,573 every year, while hoping to spend $22,390 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: 29/49/22 Blend
55$7,300,000$7,300,000$7,300,000$7,300,000
56$8,049,317$7,662,417$7,549,267$8,227,149
57$8,846,525$8,014,053$7,778,345$8,716,490
58$9,724,297$8,382,168$8,014,346$9,239,929
59$10,690,828$8,767,547$8,257,479$9,802,230
60$11,755,147$9,171,011$8,507,959$10,406,750
61$12,927,202$9,593,421$8,766,007$11,057,161
62$14,217,958$10,035,680$9,031,849$11,757,482
63$15,639,495$10,498,733$9,305,721$12,512,115
64$17,205,124$10,983,572$9,587,863$13,325,877
65$18,929,516$11,491,236$9,878,526$14,204,046
66$20,828,833$12,022,814$10,177,963$15,152,408
67$22,920,889$12,579,446$10,486,440$16,177,301
68$25,225,311$13,162,331$10,804,227$17,285,674
69$27,763,729$13,772,721$11,131,605$18,485,149
70$30,559,976$14,411,932$11,468,861$19,784,082
71$33,640,318$15,081,340$11,816,292$21,191,645
72$37,033,697$15,782,392$12,174,203$22,717,897
73$40,772,004$16,516,600$12,542,910$24,373,881
74$44,890,387$17,285,552$12,922,736$26,171,719
75$49,427,574$18,090,911$13,314,014$28,124,718
76$54,426,242$18,934,421$13,717,089$30,247,492
77$59,933,421$19,817,910$14,132,314$32,556,091
78$66,000,937$20,743,295$14,560,054$35,068,145
79$72,685,901$21,712,584$15,000,684$37,803,024
80$80,051,246$22,727,884$15,454,590$40,782,011
81$88,166,325$23,791,403$15,922,171$44,028,494
82$97,107,563$24,905,454$16,403,836$47,568,181
83$106,959,177$26,072,464$16,900,007$51,429,328
84$117,813,975$27,294,977$17,411,120$55,643,002
85$129,774,229$28,575,659$17,937,621$60,243,360
86$142,952,640$29,917,306$18,479,971$65,267,960
87$157,473,405$31,322,850$19,038,646$70,758,108
88$173,473,385$32,795,362$19,614,133$76,759,232
89$191,103,400$34,338,065$20,206,936$83,321,302
90$210,529,653$35,954,335$20,817,574$90,499,288
91$231,935,295$37,647,715$21,446,580$98,353,661
92$255,522,158$39,421,916$22,094,504$106,950,958
93$281,512,659$41,280,832$22,761,911$116,364,387
94$310,151,900$43,228,542$23,449,385$126,674,509
95$341,709,979$45,269,326$24,157,524$137,969,977
96$376,484,544$47,407,669$24,886,948$150,348,360
97$414,803,598$49,648,277$25,638,292$163,917,044
98$457,028,602$51,996,079$26,412,212$178,794,229
99$503,557,880$54,456,247$27,209,381$195,110,022
100$554,830,383$57,034,203$28,030,495$213,007,649