Can I retire at age 56 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$734,954$728,407$722,020$715,786$709,698$699,382
2 years$363,838$357,062$350,495$344,128$337,952$327,579
3 years$240,150$233,344$226,794$220,486$214,410$204,305
4 years$178,317$171,533$165,048$158,848$152,919$143,159
5 years$141,228$134,484$128,084$122,010$116,247$106,859
6 years$116,509$109,816$103,511$97,573$91,982$82,979
7 years$98,860$92,223$86,018$80,220$74,806$66,190
8 years$85,629$79,052$72,950$67,294$62,059$53,829
9 years$75,344$68,829$62,832$57,320$52,263$44,414
10 years$67,121$60,670$54,778$49,410$44,530$37,058
11 years$60,397$54,011$48,226$43,002$38,298$31,194
12 years$54,798$48,477$42,799$37,718$33,188$26,445
13 years$50,064$43,809$38,238$33,300$28,940$22,548
14 years$46,010$39,821$34,357$29,560$25,369$19,317
15 years$42,499$36,377$31,020$26,362$22,337$16,615
16 years$39,430$33,376$28,124$23,604$19,741$14,339
17 years$36,726$30,738$25,592$21,208$17,504$12,409
18 years$34,324$28,403$23,362$19,113$15,564$10,765
19 years$32,178$26,324$21,387$17,270$13,872$9,358
20 years$30,248$24,461$19,628$15,642$12,391$8,149
21 years$28,505$22,785$18,054$14,196$11,089$7,106
22 years$26,922$21,269$16,639$12,907$9,939$6,206
23 years$25,479$19,892$15,363$11,755$8,922$5,425
24 years$24,159$18,638$14,209$10,721$8,019$4,747
25 years$22,946$17,490$13,160$9,791$7,216$4,158
26 years$21,828$16,438$12,205$8,952$6,500$3,644
27 years$20,794$15,470$11,334$8,194$5,860$3,196
28 years$19,836$14,578$10,536$7,508$5,288$2,805
29 years$18,946$13,752$9,805$6,885$4,775$2,462
30 years$18,117$12,988$9,133$6,319$4,314$2,163
31 years$17,342$12,278$8,514$5,803$3,901$1,900
32 years$16,618$11,617$7,944$5,333$3,528$1,670
33 years$15,939$11,002$7,417$4,904$3,193$1,469
34 years$15,301$10,427$6,930$4,512$2,891$1,291
35 years$14,701$9,890$6,479$4,154$2,619$1,136
36 years$14,135$9,387$6,061$3,826$2,373$999
37 years$13,602$8,915$5,673$3,525$2,150$879
38 years$13,097$8,473$5,313$3,249$1,949$774
39 years$12,620$8,057$4,977$2,996$1,768$681
40 years$12,168$7,665$4,665$2,763$1,604$600
41 years$11,739$7,297$4,375$2,549$1,455$528
42 years$11,331$6,949$4,104$2,353$1,320$465
43 years$10,943$6,621$3,851$2,172$1,198$409
44 years$10,574$6,311$3,614$2,005$1,087$360
45 years$10,223$6,018$3,394$1,852$987$317
46 years$9,888$5,741$3,188$1,711$896$280
47 years$9,568$5,479$2,995$1,580$814$246
48 years$9,262$5,230$2,814$1,460$739$217
49 years$8,969$4,995$2,645$1,350$671$191
50 years$8,690$4,771$2,487$1,248$610$168

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,900,000, adding $2,804 every year, while hoping to spend $20,153 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: 68/17/15 Blend
55$8,900,000$8,900,000$8,900,000$8,900,000
56$9,810,692$9,338,992$9,201,042$10,443,315
57$10,789,940$9,775,160$9,487,835$11,301,379
58$11,868,396$10,232,025$9,783,559$12,236,904
59$13,056,158$10,710,580$10,088,493$13,259,636
60$14,364,352$11,211,864$10,402,924$14,378,143
61$15,805,242$11,736,971$10,727,148$15,601,854
62$17,392,337$12,287,043$11,061,468$16,941,145
63$19,140,527$12,863,280$11,406,199$18,407,436
64$21,066,219$13,466,939$11,761,665$20,013,297
65$23,187,492$14,099,338$12,128,199$21,772,561
66$25,524,270$14,761,859$12,506,147$23,700,459
67$28,098,506$15,455,951$12,895,864$25,813,756
68$30,934,393$16,183,132$13,297,715$28,130,908
69$34,058,590$16,944,995$13,712,078$30,672,234
70$37,500,476$17,743,209$14,139,342$33,460,109
71$41,292,423$18,579,524$14,579,908$36,519,165
72$45,470,106$19,455,777$15,034,191$39,876,527
73$50,072,837$20,373,890$15,502,616$43,562,063
74$55,143,937$21,335,882$15,985,625$47,608,665
75$60,731,145$22,343,866$16,483,670$52,052,553
76$66,887,068$23,400,062$16,997,219$56,933,618
77$73,669,678$24,506,793$17,526,754$62,295,789
78$81,142,857$25,666,499$18,072,773$68,187,452
79$89,377,006$26,881,734$18,635,788$74,661,895
80$98,449,701$28,155,180$19,216,327$81,777,812
81$108,446,433$29,489,646$19,814,937$89,599,852
82$119,461,410$30,888,079$20,432,177$98,199,222
83$131,598,447$32,353,569$21,068,629$107,654,361
84$144,971,950$33,889,355$21,724,889$118,051,667
85$159,707,989$35,498,834$22,401,574$129,486,316
86$175,945,495$37,185,567$23,099,317$142,063,150
87$193,837,566$38,953,291$23,818,775$155,897,661
88$213,552,915$40,805,920$24,560,622$171,117,082
89$235,277,464$42,747,561$25,325,554$187,861,572
90$259,216,094$44,782,521$26,114,289$206,285,543
91$285,594,586$46,915,314$26,927,567$226,559,104
92$314,661,744$49,150,674$27,766,151$248,869,663
93$346,691,752$51,493,568$28,630,828$273,423,691
94$381,986,759$53,949,201$29,522,408$300,448,658
95$420,879,728$56,523,031$30,441,729$330,195,178
96$463,737,585$59,220,785$31,389,652$362,939,365
97$510,964,680$62,048,464$32,367,066$398,985,432
98$563,006,603$65,012,365$33,374,888$438,668,550
99$620,354,393$68,119,087$34,414,063$482,358,010
100$683,549,173$71,375,554$35,485,566$530,460,691