Can I retire at age 56 with 7,700,000?

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 $7,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$635,859$630,195$624,669$619,275$614,009$608,864
2 years$314,782$308,919$303,237$297,729$292,385$287,200
3 years$207,770$201,882$196,215$190,758$185,501$180,436
4 years$154,274$148,405$142,794$137,430$132,301$127,395
5 years$122,186$116,351$110,814$105,559$100,573$95,841
6 years$100,800$95,009$89,554$84,417$79,580$75,028
7 years$85,531$79,789$74,420$69,404$64,720$60,349
8 years$74,084$68,394$63,114$58,221$53,691$49,502
9 years$65,185$59,549$54,360$49,591$45,216$41,207
10 years$58,071$52,490$47,392$42,748$38,526$34,696
11 years$52,254$46,728$41,723$37,204$33,134$29,478
12 years$47,409$41,941$37,029$32,633$28,713$25,229
13 years$43,314$37,902$33,083$28,810$25,038$21,723
14 years$39,806$34,452$29,725$25,574$21,948$18,796
15 years$36,769$31,473$26,838$22,808$19,325$16,332
16 years$34,114$28,876$24,332$20,422$17,080$14,241
17 years$31,774$26,593$22,141$18,349$15,144$12,455
18 years$29,696$24,573$20,212$16,536$13,465$10,921
19 years$27,839$22,774$18,503$14,942$12,002$9,598
20 years$26,170$21,163$16,981$13,533$10,720$8,450
21 years$24,662$19,713$15,620$12,282$9,594$7,453
22 years$23,292$18,401$14,396$11,167$8,599$6,582
23 years$22,044$17,210$13,292$10,170$7,719$5,821
24 years$20,901$16,125$12,293$9,275$6,938$5,153
25 years$19,852$15,132$11,386$8,471$6,243$4,566
26 years$18,885$14,222$10,560$7,745$5,624$4,050
27 years$17,990$13,384$9,806$7,090$5,070$3,595
28 years$17,162$12,612$9,116$6,496$4,575$3,193
29 years$16,391$11,898$8,483$5,957$4,131$2,837
30 years$15,674$11,236$7,901$5,467$3,733$2,523
31 years$15,004$10,622$7,366$5,021$3,375$2,244
32 years$14,377$10,051$6,873$4,614$3,053$1,997
33 years$13,790$9,518$6,417$4,243$2,763$1,778
34 years$13,238$9,021$5,996$3,904$2,501$1,583
35 years$12,719$8,556$5,606$3,594$2,266$1,411
36 years$12,229$8,121$5,244$3,310$2,053$1,257
37 years$11,768$7,713$4,908$3,050$1,860$1,120
38 years$11,331$7,330$4,596$2,811$1,687$998
39 years$10,918$6,970$4,306$2,592$1,529$890
40 years$10,527$6,632$4,036$2,391$1,387$794
41 years$10,156$6,313$3,785$2,206$1,259$708
42 years$9,803$6,012$3,550$2,035$1,142$631
43 years$9,468$5,728$3,331$1,879$1,036$563
44 years$9,149$5,460$3,127$1,735$941$502
45 years$8,845$5,207$2,936$1,602$854$448
46 years$8,554$4,967$2,758$1,480$775$400
47 years$8,278$4,740$2,591$1,367$704$357
48 years$8,013$4,525$2,435$1,263$639$319
49 years$7,760$4,321$2,289$1,168$581$284
50 years$7,518$4,128$2,152$1,079$528$254

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,700,000, adding $5,698 every year, while hoping to spend $54,822 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: 57/17/26 Blend
55$7,700,000$7,700,000$7,700,000$7,700,000
56$8,491,277$8,083,177$7,963,827$8,914,702
57$9,299,058$8,420,923$8,172,286$9,543,173
58$10,187,394$8,773,381$8,385,890$10,221,562
59$11,164,445$9,141,213$8,604,754$10,959,837
60$12,239,201$9,525,115$8,828,995$11,763,798
61$13,421,565$9,925,811$9,058,732$12,639,828
62$14,722,450$10,344,062$9,294,085$13,594,951
63$16,153,880$10,780,660$9,535,177$14,636,893
64$17,729,102$11,236,440$9,782,132$15,774,158
65$19,462,714$11,712,269$10,035,077$17,016,104
66$21,370,800$12,209,059$10,294,142$18,373,032
67$23,471,082$12,727,763$10,559,455$19,856,278
68$25,783,087$13,269,378$10,831,152$21,478,323
69$28,328,332$13,834,947$11,109,365$23,252,904
70$31,130,526$14,425,564$11,394,233$25,195,146
71$34,215,794$15,042,371$11,685,894$27,321,701
72$37,612,923$15,686,565$11,984,490$29,650,901
73$41,353,633$16,359,399$12,290,162$32,202,935
74$45,472,878$17,062,184$12,603,057$35,000,030
75$50,009,172$17,796,292$12,923,320$38,066,663
76$55,004,958$18,563,160$13,251,102$41,429,791
77$60,507,002$19,364,293$13,586,552$45,119,099
78$66,566,837$20,201,265$13,929,822$49,167,278
79$73,241,252$21,075,724$14,281,069$53,610,336
80$80,592,821$21,989,396$14,640,446$58,487,928
81$88,690,502$22,944,089$15,008,114$63,843,732
82$97,610,277$23,941,694$15,384,230$69,725,860
83$107,435,880$24,984,192$15,768,957$76,187,303
84$118,259,580$26,073,657$16,162,456$83,286,432
85$130,183,051$27,212,260$16,564,893$91,087,547
86$143,318,338$28,402,277$16,976,433$99,661,476
87$157,788,908$29,646,088$17,397,242$109,086,244
88$173,730,817$30,946,187$17,827,490$119,447,803
89$191,293,995$32,305,184$18,267,346$130,840,843
90$210,643,660$33,725,816$18,716,980$143,369,677
91$231,961,878$35,210,946$19,176,563$157,149,224
92$255,449,280$36,763,573$19,646,269$172,306,092
93$281,326,957$38,386,838$20,126,269$188,979,763
94$309,838,545$40,084,031$20,616,737$207,323,908
95$341,252,526$41,858,598$21,117,848$227,507,833
96$375,864,763$43,714,149$21,629,775$249,718,073
97$414,001,289$45,654,462$22,152,692$274,160,142
98$456,021,388$47,683,498$22,686,774$301,060,476
99$502,320,984$49,805,404$23,232,196$330,668,556
100$553,336,379$52,024,523$23,789,129$363,259,264