Can I retire at age 56 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$611,085$605,642$600,331$595,148$590,086$583,681
2 years$302,517$296,883$291,423$286,129$280,994$274,544
3 years$199,675$194,016$188,570$183,325$178,274$171,981
4 years$148,264$142,623$137,231$132,076$127,146$121,058
5 years$117,425$111,818$106,497$101,447$96,655$90,789
6 years$96,873$91,308$86,065$81,128$76,480$70,843
7 years$82,198$76,680$71,520$66,700$62,198$56,794
8 years$71,197$65,729$60,655$55,953$51,600$46,427
9 years$62,646$57,229$52,242$47,659$43,454$38,511
10 years$55,808$50,444$45,546$41,083$37,025$32,308
11 years$50,218$44,908$40,098$35,754$31,843$27,349
12 years$45,562$40,307$35,586$31,361$27,594$23,318
13 years$41,626$36,426$31,794$27,687$24,063$19,999
14 years$38,255$33,110$28,567$24,578$21,093$17,237
15 years$35,336$30,246$25,792$21,919$18,572$14,917
16 years$32,785$27,751$23,384$19,626$16,414$12,954
17 years$30,536$25,557$21,279$17,634$14,554$11,282
18 years$28,539$23,616$19,425$15,892$12,941$9,850
19 years$26,754$21,887$17,782$14,360$11,534$8,619
20 years$25,150$20,339$16,320$13,005$10,303$7,555
21 years$23,701$18,945$15,011$11,803$9,220$6,634
22 years$22,385$17,684$13,835$10,732$8,264$5,832
23 years$21,185$16,540$12,774$9,774$7,418$5,134
24 years$20,087$15,496$11,814$8,914$6,668$4,524
25 years$19,078$14,543$10,942$8,141$6,000$3,991
26 years$18,149$13,668$10,148$7,444$5,405$3,523
27 years$17,289$12,863$9,423$6,813$4,873$3,112
28 years$16,493$12,121$8,760$6,242$4,397$2,751
29 years$15,753$11,434$8,152$5,724$3,970$2,433
30 years$15,063$10,799$7,594$5,254$3,587$2,152
31 years$14,419$10,208$7,079$4,825$3,243$1,905
32 years$13,817$9,659$6,605$4,434$2,934$1,687
33 years$13,252$9,147$6,167$4,078$2,655$1,495
34 years$12,722$8,670$5,762$3,752$2,404$1,324
35 years$12,223$8,223$5,387$3,454$2,177$1,174
36 years$11,753$7,805$5,040$3,181$1,973$1,041
37 years$11,309$7,413$4,717$2,931$1,788$923
38 years$10,890$7,045$4,417$2,701$1,621$818
39 years$10,493$6,699$4,139$2,491$1,470$726
40 years$10,117$6,373$3,879$2,297$1,333$644
41 years$9,760$6,067$3,637$2,120$1,210$571
42 years$9,421$5,778$3,412$1,956$1,098$507
43 years$9,099$5,505$3,202$1,806$996$450
44 years$8,792$5,248$3,005$1,667$904$399
45 years$8,500$5,004$2,822$1,540$821$354
46 years$8,221$4,774$2,650$1,422$745$315
47 years$7,955$4,556$2,490$1,314$677$279
48 years$7,701$4,349$2,340$1,214$615$248
49 years$7,458$4,153$2,199$1,122$558$220
50 years$7,225$3,967$2,068$1,037$507$195

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,400,000, adding $2,661 every year, while hoping to spend $39,298 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: 61/27/12 Blend
55$7,400,000$7,400,000$7,400,000$7,400,000
56$8,157,545$7,765,345$7,650,645$8,631,658
57$8,947,802$8,104,034$7,865,129$9,288,953
58$9,817,348$8,458,002$8,085,481$10,001,166
59$10,774,229$8,827,955$8,311,856$10,777,366
60$11,827,310$9,214,635$8,544,413$11,623,740
61$12,986,360$9,618,817$8,783,316$12,547,097
62$14,262,143$10,041,313$9,028,730$13,554,922
63$15,666,517$10,482,973$9,280,828$14,655,449
64$17,212,550$10,944,687$9,539,785$15,857,737
65$18,914,643$11,427,389$9,805,780$17,171,752
66$20,788,661$11,932,056$10,078,999$18,608,460
67$22,852,088$12,459,710$10,359,628$20,179,927
68$25,124,188$13,011,424$10,647,863$21,899,429
69$27,626,190$13,588,318$10,943,902$23,781,581
70$30,381,486$14,191,569$11,247,946$25,842,464
71$33,415,850$14,822,409$11,560,205$28,099,780
72$36,757,686$15,482,127$11,880,891$30,573,014
73$40,438,292$16,172,073$12,210,223$33,283,615
74$44,492,157$16,893,663$12,548,425$36,255,195
75$48,957,284$17,648,380$12,895,724$39,513,751
76$53,875,553$18,437,776$13,252,356$43,087,903
77$59,293,110$19,263,479$13,618,562$47,009,162
78$65,260,810$20,127,191$13,994,586$51,312,228
79$71,834,688$21,030,699$14,380,680$56,035,305
80$79,076,496$21,975,874$14,777,103$61,220,467
81$87,054,281$22,964,674$15,184,118$66,914,043
82$95,843,028$23,999,152$15,601,996$73,167,055
83$105,525,366$25,081,461$16,031,012$80,035,692
84$116,192,353$26,213,852$16,471,451$87,581,839
85$127,944,330$27,398,688$16,923,601$95,873,652
86$140,891,870$28,638,441$17,387,760$104,986,197
87$155,156,821$29,935,705$17,864,231$115,002,155
88$170,873,458$31,293,196$18,353,323$126,012,597
89$188,189,746$32,713,759$18,855,356$138,117,835
90$207,268,743$34,200,375$19,370,653$151,428,362
91$228,290,132$35,756,171$19,899,547$166,065,893
92$251,451,923$37,384,420$20,442,379$182,164,503
93$276,972,316$39,088,554$20,999,495$199,871,887
94$305,091,766$40,872,167$21,571,253$219,350,746
95$336,075,251$42,739,029$22,158,014$240,780,315
96$370,214,772$44,693,086$22,760,153$264,358,049
97$407,832,109$46,738,477$23,378,048$290,301,473
98$449,281,860$48,879,538$24,012,089$318,850,233
99$494,954,788$51,120,814$24,662,672$350,268,345
100$545,281,510$53,467,068$25,330,205$384,846,675