Can I retire at age 56 with 8,500,000?

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$701,922$695,670$689,570$683,616$677,802$659,012
2 years$347,486$341,015$334,743$328,661$322,763$303,972
3 years$229,356$222,857$216,601$210,577$204,774$186,571
4 years$170,303$163,823$157,630$151,709$146,047$128,572
5 years$134,880$128,439$122,327$116,527$111,022$94,323
6 years$111,273$104,880$98,859$93,187$87,848$71,940
7 years$94,417$88,078$82,152$76,614$71,444$56,328
8 years$81,781$75,500$69,671$64,270$59,270$44,938
9 years$71,958$65,736$60,008$54,744$49,914$36,352
10 years$64,104$57,943$52,316$47,190$42,529$29,720
11 years$57,683$51,583$46,058$41,069$36,576$24,499
12 years$52,335$46,298$40,876$36,023$31,696$20,328
13 years$47,814$41,840$36,520$31,803$27,640$16,956
14 years$43,942$38,032$32,813$28,231$24,229$14,205
15 years$40,589$34,743$29,626$25,177$21,333$11,941
16 years$37,658$31,876$26,860$22,544$18,854$10,067
17 years$35,075$29,356$24,442$20,255$16,717$8,508
18 years$32,781$27,126$22,312$18,254$14,864$7,205
19 years$30,731$25,141$20,426$16,494$13,249$6,111
20 years$28,889$23,362$18,746$14,939$11,834$5,191
21 years$27,224$21,761$17,242$13,558$10,590$4,415
22 years$25,712$20,313$15,892$12,327$9,493$3,758
23 years$24,334$18,998$14,673$11,226$8,521$3,202
24 years$23,073$17,800$13,570$10,239$7,659$2,730
25 years$21,914$16,704$12,569$9,351$6,892$2,329
26 years$20,847$15,699$11,657$8,550$6,208$1,988
27 years$19,860$14,775$10,824$7,826$5,597$1,698
28 years$18,945$13,922$10,063$7,170$5,050$1,450
29 years$18,094$13,134$9,364$6,575$4,560$1,239
30 years$17,302$12,404$8,722$6,035$4,121$1,059
31 years$16,563$11,726$8,132$5,542$3,725$906
32 years$15,871$11,095$7,587$5,093$3,370$775
33 years$15,222$10,507$7,084$4,684$3,050$662
34 years$14,613$9,958$6,619$4,310$2,761$567
35 years$14,040$9,445$6,188$3,967$2,501$485
36 years$13,500$8,965$5,789$3,654$2,266$415
37 years$12,990$8,515$5,418$3,366$2,054$355
38 years$12,509$8,092$5,074$3,103$1,862$304
39 years$12,053$7,695$4,754$2,861$1,688$260
40 years$11,621$7,321$4,456$2,639$1,531$223
41 years$11,211$6,969$4,178$2,435$1,389$190
42 years$10,822$6,637$3,919$2,247$1,261$163
43 years$10,452$6,324$3,678$2,074$1,144$140
44 years$10,099$6,028$3,452$1,915$1,039$119
45 years$9,763$5,748$3,241$1,769$943$102
46 years$9,443$5,483$3,044$1,634$856$88
47 years$9,138$5,233$2,860$1,509$777$75
48 years$8,846$4,995$2,688$1,395$706$64
49 years$8,566$4,770$2,526$1,289$641$55
50 years$8,299$4,557$2,375$1,191$582$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,500,000, adding $6,834 every year, while hoping to spend $25,699 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: 29/45/26 Blend
55$8,500,000$8,500,000$8,500,000$8,500,000
56$9,374,049$8,923,549$8,791,799$9,570,139
57$10,302,859$9,333,460$9,058,981$10,134,336
58$11,325,545$9,762,594$9,334,252$10,737,759
59$12,451,658$10,211,868$9,617,856$11,385,983
60$13,691,717$10,682,240$9,910,045$12,082,889
61$15,057,317$11,174,715$10,211,076$12,832,728
62$16,561,233$11,690,345$10,521,217$13,640,149
63$18,217,543$12,230,236$10,840,742$14,510,249
64$20,041,759$12,795,545$11,169,933$15,448,605
65$22,050,975$13,387,483$11,509,082$16,461,332
66$24,264,027$14,007,322$11,858,489$17,555,130
67$26,701,672$14,656,395$12,218,462$18,737,344
68$29,386,782$15,336,097$12,589,320$20,016,029
69$32,344,561$16,047,894$12,971,390$21,400,019
70$35,602,785$16,793,319$13,365,010$22,899,005
71$39,192,058$17,573,981$13,770,527$24,523,621
72$43,146,108$18,391,565$14,188,299$26,285,537
73$47,502,099$19,247,840$14,618,695$28,197,563
74$52,300,986$20,144,657$15,062,095$30,273,766
75$57,587,900$21,083,960$15,518,889$32,529,588
76$63,412,575$22,067,782$15,989,481$34,981,995
77$69,829,814$23,098,260$16,474,284$37,649,618
78$76,900,009$24,177,629$16,973,727$40,552,930
79$84,689,713$25,308,235$17,488,250$43,714,423
80$93,272,262$26,492,537$18,018,304$47,158,817
81$102,728,473$27,733,112$18,564,358$50,913,283
82$113,147,405$29,032,662$19,126,892$55,007,685
83$124,627,197$30,394,020$19,706,400$59,474,859
84$137,275,999$31,820,155$20,303,392$64,350,904
85$151,212,989$33,314,180$20,918,394$69,675,520
86$166,569,500$34,879,361$21,551,946$75,492,362
87$183,490,257$36,519,118$22,204,604$81,849,449
88$202,134,748$38,237,039$22,876,943$88,799,596
89$222,678,724$40,036,886$23,569,552$96,400,904
90$245,315,861$41,922,601$24,283,040$104,717,294
91$270,259,590$43,898,319$25,018,033$113,819,093
92$297,745,107$45,968,376$25,775,176$123,783,686
93$328,031,596$48,137,315$26,555,132$134,696,226
94$361,404,677$50,409,901$27,358,587$146,650,424
95$398,179,098$52,791,130$28,186,244$159,749,416
96$438,701,712$55,286,241$29,038,828$174,106,717
97$483,354,744$57,900,725$29,917,087$189,847,272
98$532,559,408$60,640,340$30,821,790$207,108,616
99$586,779,876$63,511,125$31,753,728$226,042,154
100$646,527,663$66,519,410$32,713,718$246,814,562