Can I retire at age 56 with 7,900,000?

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 $7,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$652,375$646,564$640,894$635,360$629,957$620,543
2 years$322,958$316,943$311,114$305,462$299,980$290,516
3 years$213,166$207,126$201,311$195,712$190,319$181,101
4 years$158,282$152,259$146,503$141,000$135,737$126,836
5 years$125,359$119,373$113,692$108,301$103,185$94,626
6 years$103,418$97,477$91,880$86,609$81,647$73,439
7 years$87,752$81,861$76,353$71,206$66,401$58,548
8 years$76,008$70,170$64,753$59,733$55,086$47,586
9 years$66,878$61,096$55,772$50,879$46,390$39,240
10 years$59,579$53,853$48,623$43,859$39,527$32,721
11 years$53,611$47,942$42,807$38,170$33,994$27,526
12 years$48,641$43,030$37,990$33,480$29,459$23,320
13 years$44,439$38,887$33,942$29,558$25,689$19,871
14 years$40,840$35,347$30,497$26,238$22,519$17,013
15 years$37,724$32,290$27,535$23,400$19,827$14,623
16 years$35,000$29,626$24,964$20,952$17,523$12,611
17 years$32,599$27,284$22,716$18,825$15,537$10,906
18 years$30,467$25,212$20,737$16,965$13,815$9,454
19 years$28,562$23,366$18,984$15,330$12,314$8,212
20 years$26,850$21,713$17,422$13,884$10,999$7,146
21 years$25,302$20,225$16,025$12,601$9,843$6,227
22 years$23,897$18,879$14,770$11,457$8,823$5,434
23 years$22,617$17,657$13,637$10,434$7,920$4,746
24 years$21,444$16,544$12,612$9,516$7,118$4,150
25 years$20,367$15,525$11,681$8,691$6,405$3,632
26 years$19,375$14,591$10,834$7,947$5,770$3,181
27 years$18,458$13,732$10,060$7,274$5,202$2,787
28 years$17,607$12,940$9,352$6,664$4,694$2,444
29 years$16,817$12,207$8,703$6,111$4,238$2,144
30 years$16,081$11,528$8,107$5,609$3,830$1,882
31 years$15,394$10,898$7,558$5,151$3,462$1,652
32 years$14,751$10,312$7,051$4,734$3,132$1,451
33 years$14,148$9,765$6,584$4,353$2,834$1,274
34 years$13,582$9,255$6,152$4,005$2,566$1,120
35 years$13,049$8,779$5,751$3,687$2,324$984
36 years$12,547$8,332$5,380$3,396$2,106$865
37 years$12,073$7,914$5,036$3,129$1,909$761
38 years$11,626$7,521$4,716$2,884$1,730$669
39 years$11,202$7,152$4,418$2,659$1,569$588
40 years$10,801$6,804$4,141$2,453$1,423$517
41 years$10,420$6,477$3,883$2,263$1,291$455
42 years$10,058$6,168$3,642$2,088$1,172$400
43 years$9,714$5,877$3,418$1,928$1,063$352
44 years$9,386$5,602$3,208$1,780$965$310
45 years$9,074$5,342$3,013$1,644$876$273
46 years$8,777$5,096$2,829$1,518$796$240
47 years$8,493$4,863$2,658$1,403$722$211
48 years$8,221$4,643$2,498$1,296$656$186
49 years$7,962$4,434$2,348$1,198$596$164
50 years$7,713$4,235$2,207$1,107$541$144

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $7,900,000, adding $2,106 every year, while hoping to spend $57,692 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: 41/34/25 Blend
55$7,900,000$7,900,000$7,900,000$7,900,000
56$8,707,972$8,289,272$8,166,822$9,000,845
57$9,534,802$8,634,063$8,379,027$9,556,474
58$10,444,034$8,993,814$8,596,407$10,151,887
59$11,444,014$9,369,199$8,819,075$10,795,248
60$12,543,934$9,760,921$9,047,144$11,490,990
61$13,753,924$10,169,715$9,280,732$12,243,983
62$15,085,143$10,596,350$9,519,957$13,059,575
63$16,549,890$11,041,633$9,764,937$13,943,639
64$18,161,711$11,506,406$10,015,795$14,902,629
65$19,935,536$11,991,550$10,272,654$15,943,637
66$21,887,813$12,497,988$10,535,640$17,074,455
67$24,036,665$13,026,686$10,804,880$18,303,651
68$26,402,065$13,578,652$11,080,503$19,640,640
69$29,006,015$14,154,946$11,362,639$21,095,777
70$31,872,762$14,756,672$11,651,422$22,680,444
71$35,029,025$15,384,990$11,946,985$24,407,162
72$38,504,241$16,041,110$12,249,464$26,289,698
73$42,330,850$16,726,301$12,558,998$28,343,198
74$46,544,597$17,441,890$12,875,725$30,584,322
75$51,184,870$18,189,267$13,199,786$33,031,399
76$56,295,072$18,969,887$13,531,325$35,704,593
77$61,923,030$19,785,271$13,870,484$38,626,095
78$68,121,443$20,637,013$14,217,409$41,820,322
79$74,948,386$21,526,783$14,572,248$45,314,146
80$82,467,851$22,456,325$14,935,149$49,137,142
81$90,750,356$23,427,469$15,306,260$53,321,861
82$99,873,607$24,442,129$15,685,734$57,904,135
83$109,923,230$25,502,309$16,073,721$62,923,407
84$120,993,584$26,610,107$16,470,376$68,423,096
85$133,188,647$27,767,719$16,875,851$74,451,007
86$146,622,999$28,977,447$17,290,301$81,059,769
87$161,422,901$30,241,699$17,713,883$88,307,329
88$177,727,490$31,562,996$18,146,752$96,257,493
89$195,690,091$32,943,979$18,589,064$104,980,517
90$215,479,660$34,387,414$19,040,978$114,553,768
91$237,282,385$35,896,196$19,502,650$125,062,442
92$261,303,437$37,473,359$19,974,238$136,600,362
93$287,768,911$39,122,077$20,455,898$149,270,856
94$316,927,958$40,845,677$20,947,789$163,187,723
95$349,055,137$42,647,642$21,450,067$178,476,296
96$384,453,004$44,531,619$21,962,887$195,274,620
97$423,454,972$46,501,431$22,486,406$213,734,740
98$466,428,456$48,561,077$23,020,777$234,024,128
99$513,778,338$50,714,750$23,566,153$256,327,254
100$565,950,796$52,966,840$24,122,686$280,847,314