Can I retire at age 56 with 8,700,000?

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$718,438$712,038$705,795$699,701$693,750$678,911
2 years$355,662$349,038$342,619$336,395$330,357$315,479
3 years$234,753$228,100$221,697$215,531$209,592$195,139
4 years$174,310$167,678$161,339$155,278$149,483$135,567
5 years$138,054$131,462$125,205$119,269$113,635$100,295
6 years$113,891$107,348$101,185$95,380$89,915$77,166
7 years$96,638$90,151$84,085$78,417$73,125$60,969
8 years$83,705$77,276$71,311$65,782$60,664$49,097
9 years$73,651$67,283$61,420$56,032$51,088$40,102
10 years$65,612$59,306$53,547$48,300$43,530$33,113
11 years$59,040$52,797$47,142$42,035$37,437$27,576
12 years$53,566$47,388$41,837$36,871$32,442$23,122
13 years$48,939$42,825$37,379$32,551$28,290$19,495
14 years$44,976$38,926$33,585$28,895$24,799$16,511
15 years$41,544$35,560$30,323$25,770$21,835$14,036
16 years$38,544$32,626$27,492$23,074$19,298$11,970
17 years$35,900$30,047$25,017$20,732$17,111$10,234
18 years$33,553$27,765$22,837$18,683$15,214$8,769
19 years$31,454$25,732$20,906$16,882$13,561$7,527
20 years$29,569$23,911$19,187$15,290$12,113$6,472
21 years$27,864$22,273$17,648$13,877$10,839$5,572
22 years$26,317$20,791$16,265$12,617$9,716$4,802
23 years$24,907$19,445$15,018$11,491$8,722$4,143
24 years$23,616$18,219$13,889$10,480$7,839$3,578
25 years$22,430$17,097$12,864$9,571$7,054$3,091
26 years$21,337$16,069$11,931$8,751$6,354$2,673
27 years$20,327$15,123$11,079$8,010$5,729$2,312
28 years$19,390$14,250$10,299$7,339$5,169$2,001
29 years$18,520$13,443$9,584$6,730$4,668$1,733
30 years$17,709$12,696$8,928$6,177$4,217$1,501
31 years$16,953$12,002$8,323$5,673$3,813$1,300
32 years$16,244$11,356$7,765$5,213$3,449$1,127
33 years$15,580$10,754$7,251$4,794$3,121$977
34 years$14,957$10,193$6,775$4,411$2,826$847
35 years$14,370$9,668$6,334$4,061$2,560$734
36 years$13,818$9,176$5,925$3,740$2,319$637
37 years$13,296$8,715$5,546$3,446$2,102$552
38 years$12,803$8,282$5,193$3,176$1,906$479
39 years$12,336$7,876$4,866$2,928$1,728$416
40 years$11,894$7,493$4,561$2,701$1,567$361
41 years$11,475$7,133$4,276$2,492$1,422$313
42 years$11,076$6,793$4,011$2,300$1,290$272
43 years$10,697$6,472$3,764$2,123$1,171$236
44 years$10,337$6,169$3,533$1,960$1,063$204
45 years$9,993$5,883$3,318$1,810$965$177
46 years$9,665$5,612$3,116$1,672$876$154
47 years$9,353$5,356$2,927$1,545$796$134
48 years$9,054$5,113$2,751$1,428$723$116
49 years$8,768$4,883$2,586$1,319$656$101
50 years$8,494$4,664$2,431$1,219$596$87

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,700,000, adding $6,551 every year, while hoping to spend $24,445 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: 67/9/24 Blend
55$8,700,000$8,700,000$8,700,000$8,700,000
56$9,594,157$9,133,057$8,998,207$10,177,372
57$10,546,752$9,554,568$9,273,638$10,991,470
58$11,595,692$9,995,913$9,557,476$11,878,081
59$12,750,779$10,458,039$9,849,978$12,847,178
60$14,022,813$10,941,938$10,151,407$13,906,893
61$15,423,696$11,448,648$10,462,034$15,066,180
62$16,966,540$11,979,260$10,782,141$16,334,893
63$18,665,799$12,534,915$11,112,013$17,723,882
64$20,537,395$13,116,810$11,451,950$19,245,090
65$22,598,875$13,726,200$11,802,257$20,911,669
66$24,869,577$14,364,400$12,163,249$22,738,097
67$27,370,807$15,032,789$12,535,251$24,740,316
68$30,126,045$15,732,812$12,918,598$26,935,884
69$33,161,166$16,465,983$13,313,635$29,344,131
70$36,504,680$17,233,891$13,720,717$31,986,348
71$40,188,006$18,038,201$14,140,209$34,885,980
72$44,245,767$18,880,657$14,572,491$38,068,849
73$48,716,114$19,763,089$15,017,949$41,563,392
74$53,641,092$20,687,414$15,476,984$45,400,934
75$59,067,029$21,655,643$15,950,008$49,615,972
76$65,044,980$22,669,883$16,437,448$54,246,506
77$71,631,205$23,732,344$16,939,739$59,334,394
78$78,887,701$24,845,343$17,457,334$64,925,742
79$86,882,789$26,011,307$17,990,697$71,071,335
80$95,691,755$27,232,782$18,540,306$77,827,123
81$105,397,563$28,512,438$19,106,656$85,254,734
82$116,091,639$29,853,072$19,690,253$93,422,062
83$127,874,732$31,257,618$20,291,622$102,403,901
84$140,857,865$32,729,152$20,911,302$112,282,649
85$155,163,385$34,270,898$21,549,849$123,149,081
86$170,926,115$35,886,237$22,207,834$135,103,204
87$188,294,631$37,578,714$22,885,848$148,255,198
88$207,432,657$39,352,045$23,584,498$162,726,449
89$228,520,619$41,210,127$24,304,410$178,650,697
90$251,757,343$43,157,044$25,046,228$196,175,287
91$277,361,933$45,197,080$25,810,618$215,462,563
92$305,575,839$47,334,726$26,598,263$236,691,392
93$336,665,138$49,574,691$27,409,868$260,058,846
94$370,923,044$51,921,912$28,246,160$285,782,065
95$408,672,674$54,381,566$29,107,886$314,100,294
96$450,270,105$56,959,080$29,995,818$345,277,142
97$496,107,727$59,660,146$30,910,749$379,603,061
98$546,617,953$62,490,732$31,853,498$417,398,086
99$602,277,301$65,457,095$32,824,907$459,014,847
100$663,610,889$68,565,795$33,825,844$504,841,896