Can I retire at age 56 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$685,406$679,301$673,344$667,531$661,854$638,371
2 years$339,310$332,991$326,866$320,928$315,168$291,760
3 years$223,960$217,613$211,504$205,622$199,956$177,357
4 years$166,296$159,969$153,921$148,139$142,610$120,995
5 years$131,707$125,417$119,449$113,785$108,410$87,834
6 years$108,655$102,413$96,532$90,995$85,781$66,260
7 years$92,195$86,006$80,219$74,812$69,763$51,293
8 years$79,857$73,723$68,032$62,758$57,875$40,441
9 years$70,265$64,189$58,596$53,456$48,739$32,318
10 years$62,596$56,580$51,085$46,079$41,528$26,092
11 years$56,325$50,370$44,975$40,103$35,716$21,232
12 years$51,104$45,209$39,914$35,176$30,950$17,385
13 years$46,689$40,856$35,660$31,055$26,989$14,306
14 years$42,908$37,137$32,041$27,567$23,659$11,819
15 years$39,634$33,925$28,929$24,585$20,831$9,796
16 years$36,772$31,126$26,228$22,013$18,411$8,141
17 years$34,250$28,665$23,867$19,779$16,324$6,780
18 years$32,010$26,488$21,787$17,824$14,515$5,656
19 years$30,008$24,549$19,945$16,106$12,937$4,726
20 years$28,209$22,812$18,305$14,587$11,556$3,953
21 years$26,583$21,249$16,837$13,239$10,341$3,311
22 years$25,107$19,835$15,518$12,037$9,269$2,775
23 years$23,762$18,551$14,328$10,962$8,321$2,327
24 years$22,530$17,381$13,251$9,998$7,479$1,953
25 years$21,399$16,311$12,273$9,131$6,730$1,640
26 years$20,356$15,330$11,382$8,349$6,062$1,377
27 years$19,392$14,427$10,570$7,642$5,465$1,157
28 years$18,499$13,595$9,826$7,002$4,931$972
29 years$17,669$12,825$9,144$6,421$4,453$818
30 years$16,895$12,112$8,517$5,893$4,024$687
31 years$16,173$11,450$7,940$5,412$3,638$578
32 years$15,497$10,834$7,408$4,974$3,291$486
33 years$14,864$10,260$6,917$4,574$2,978$409
34 years$14,269$9,724$6,463$4,208$2,696$344
35 years$13,710$9,223$6,042$3,874$2,442$290
36 years$13,182$8,754$5,653$3,568$2,213$244
37 years$12,685$8,314$5,291$3,287$2,005$205
38 years$12,214$7,902$4,955$3,030$1,818$173
39 years$11,769$7,514$4,642$2,794$1,649$145
40 years$11,347$7,149$4,351$2,577$1,495$122
41 years$10,947$6,805$4,080$2,377$1,357$103
42 years$10,567$6,481$3,827$2,194$1,231$87
43 years$10,206$6,175$3,591$2,025$1,117$73
44 years$9,862$5,886$3,371$1,870$1,014$61
45 years$9,534$5,613$3,165$1,727$921$52
46 years$9,221$5,354$2,973$1,595$836$43
47 years$8,923$5,110$2,793$1,474$759$37
48 years$8,637$4,878$2,624$1,362$689$31
49 years$8,365$4,658$2,467$1,259$626$26
50 years$8,104$4,450$2,319$1,163$569$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,300,000, adding $6,851 every year, while hoping to spend $34,816 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: 43/43/14 Blend
55$8,300,000$8,300,000$8,300,000$8,300,000
56$9,153,667$8,713,767$8,585,117$9,509,764
57$10,050,297$9,103,697$8,835,674$10,149,851
58$11,037,216$9,511,568$9,093,459$10,838,871
59$12,123,598$9,938,220$9,358,675$11,584,572
60$13,319,549$10,384,537$9,631,534$12,392,172
61$14,636,206$10,851,442$9,912,254$13,267,396
62$16,085,841$11,339,905$10,201,057$14,216,530
63$17,681,977$11,850,940$10,498,172$15,246,472
64$19,439,513$12,385,611$10,803,835$16,364,796
65$21,374,867$12,945,030$11,118,288$17,579,820
66$23,506,133$13,530,365$11,441,779$18,900,678
67$25,853,244$14,142,839$11,774,565$20,337,408
68$28,438,170$14,783,734$12,116,908$21,901,033
69$31,285,118$15,454,390$12,469,078$23,603,670
70$34,420,760$16,156,216$12,831,353$25,458,634
71$37,874,492$16,890,685$13,204,018$27,480,559
72$41,678,704$17,659,342$13,587,366$29,685,532
73$45,869,086$18,463,804$13,981,697$32,091,241
74$50,484,971$19,305,769$14,387,322$34,717,133
75$55,569,700$20,187,013$14,804,559$37,584,593
76$61,171,031$21,109,399$15,233,734$40,717,140
77$67,341,595$22,074,878$15,675,183$44,140,641
78$74,139,387$23,085,496$16,129,250$47,883,552
79$81,628,315$24,143,396$16,596,291$51,977,175
80$89,878,805$25,250,825$17,076,669$56,455,946
81$98,968,464$26,410,136$17,570,758$61,357,758
82$108,982,812$27,623,797$18,078,943$66,724,303
83$120,016,089$28,894,394$18,601,618$72,601,463
84$132,172,147$30,224,636$19,139,189$79,039,728
85$145,565,428$31,617,365$19,692,073$86,094,670
86$160,322,042$33,075,556$20,260,698$93,827,454
87$176,580,962$34,602,330$20,845,504$102,305,403
88$194,495,334$36,200,958$21,446,942$111,602,628
89$214,233,920$37,874,867$22,065,476$121,800,713
90$235,982,693$39,627,648$22,701,583$132,989,471
91$259,946,594$41,463,069$23,355,752$145,267,786
92$286,351,463$43,385,077$24,028,486$158,744,529
93$315,446,174$45,397,807$24,720,302$173,539,570
94$347,504,982$47,505,597$25,431,730$189,784,902
95$382,830,111$49,712,993$26,163,315$207,625,867
96$421,754,613$52,024,760$26,915,616$227,222,514
97$464,645,502$54,445,892$27,689,207$248,751,094
98$511,907,227$56,981,624$28,484,680$272,405,706
99$563,985,486$59,637,446$29,302,639$298,400,111
100$621,371,435$62,419,110$30,143,706$326,969,736