Can I retire at age 56 with 9,700,000?

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 $9,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$801,017$793,882$786,921$780,126$773,492$752,049
2 years$396,543$389,158$382,000$375,061$368,329$346,886
3 years$261,736$254,319$247,180$240,305$233,683$212,911
4 years$194,346$186,951$179,883$173,126$166,665$146,723
5 years$153,922$146,572$139,597$132,978$126,696$107,639
6 years$126,982$119,687$112,815$106,343$100,250$82,097
7 years$107,746$100,513$93,750$87,431$81,530$64,280
8 years$93,326$86,158$79,507$73,343$67,637$51,282
9 years$82,117$75,016$68,480$62,472$56,960$41,484
10 years$73,154$66,123$59,702$53,852$48,533$33,915
11 years$65,826$58,866$52,561$46,867$41,740$27,958
12 years$59,723$52,835$46,646$41,109$36,171$23,198
13 years$54,564$47,747$41,675$36,293$31,542$19,350
14 years$50,145$43,401$37,446$32,217$27,649$16,210
15 years$46,319$39,647$33,808$28,732$24,345$13,627
16 years$42,975$36,376$30,652$25,726$21,516$11,489
17 years$40,027$33,501$27,892$23,115$19,078$9,709
18 years$37,409$30,956$25,462$20,831$16,963$8,222
19 years$35,070$28,690$23,309$18,823$15,119$6,974
20 years$32,967$26,660$21,392$17,047$13,505$5,924
21 years$31,067$24,833$19,677$15,472$12,085$5,038
22 years$29,342$23,180$18,135$14,067$10,833$4,289
23 years$27,770$21,680$16,744$12,811$9,724$3,654
24 years$26,330$20,313$15,486$11,685$8,740$3,115
25 years$25,008$19,063$14,343$10,671$7,865$2,658
26 years$23,790$17,916$13,302$9,757$7,084$2,269
27 years$22,663$16,861$12,352$8,931$6,387$1,937
28 years$21,619$15,888$11,483$8,183$5,763$1,655
29 years$20,649$14,988$10,686$7,504$5,204$1,414
30 years$19,745$14,155$9,954$6,887$4,702$1,209
31 years$18,901$13,381$9,280$6,325$4,251$1,034
32 years$18,111$12,661$8,658$5,813$3,846$884
33 years$17,371$11,990$8,084$5,345$3,480$756
34 years$16,676$11,364$7,553$4,918$3,151$647
35 years$16,022$10,779$7,062$4,527$2,854$553
36 years$15,406$10,231$6,606$4,170$2,586$473
37 years$14,824$9,717$6,183$3,842$2,344$405
38 years$14,275$9,234$5,790$3,541$2,125$347
39 years$13,754$8,781$5,425$3,265$1,927$297
40 years$13,261$8,354$5,085$3,011$1,748$254
41 years$12,794$7,953$4,768$2,778$1,586$217
42 years$12,350$7,574$4,472$2,564$1,439$186
43 years$11,927$7,216$4,197$2,367$1,306$159
44 years$11,525$6,879$3,939$2,186$1,185$136
45 years$11,142$6,559$3,699$2,018$1,076$117
46 years$10,776$6,257$3,474$1,864$977$100
47 years$10,428$5,971$3,264$1,723$887$86
48 years$10,094$5,701$3,067$1,592$806$73
49 years$9,776$5,444$2,883$1,471$732$63
50 years$9,471$5,200$2,710$1,360$665$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $9,700,000, adding $2,728 every year, while hoping to spend $25,193 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: 31/48/21 Blend
55$9,700,000$9,700,000$9,700,000$9,700,000
56$10,692,214$10,178,114$10,027,764$10,953,759
57$11,756,015$10,650,036$10,336,889$11,623,729
58$12,927,479$11,144,239$10,655,525$12,341,973
59$14,217,561$11,661,786$10,983,965$13,114,624
60$15,638,333$12,203,794$11,322,509$13,946,432
61$17,203,098$12,771,435$11,671,467$14,842,599
62$18,926,512$13,365,934$12,031,160$15,808,819
63$20,824,729$13,988,577$12,401,916$16,851,330
64$22,915,547$14,640,713$12,784,076$17,976,963
65$25,218,579$15,323,754$13,177,989$19,193,208
66$27,755,438$16,039,182$13,584,016$20,508,272
67$30,549,941$16,788,550$14,002,528$21,931,153
68$33,628,332$17,573,486$14,433,910$23,471,720
69$37,019,531$18,395,696$14,878,555$25,140,798
70$40,755,407$19,256,969$15,336,870$26,950,263
71$44,871,078$20,159,180$15,809,276$28,913,147
72$49,405,245$21,104,297$16,296,203$31,043,756
73$54,400,552$22,094,380$16,798,098$33,357,792
74$59,903,994$23,131,590$17,315,420$35,872,497
75$65,967,356$24,218,193$17,848,641$38,606,805
76$72,647,706$25,356,563$18,398,250$41,581,515
77$80,007,929$26,549,192$18,964,749$44,819,471
78$88,117,325$27,798,690$19,548,655$48,345,776
79$97,052,260$29,107,793$20,150,502$52,188,011
80$106,896,887$30,479,372$20,770,841$56,376,489
81$117,743,944$31,916,435$21,410,238$60,944,529
82$129,695,623$33,422,137$22,069,278$65,928,757
83$142,864,539$34,999,785$22,748,562$71,369,442
84$157,374,794$36,652,846$23,448,710$77,310,859
85$173,363,144$38,384,957$24,170,363$83,801,697
86$190,980,294$40,199,929$24,914,180$90,895,502
87$210,392,317$42,101,759$25,680,838$98,651,167
88$231,782,226$44,094,637$26,471,039$107,133,477
89$255,351,697$46,182,959$27,285,502$116,413,695
90$281,322,977$48,371,330$28,124,973$126,570,229
91$309,940,977$50,664,581$28,990,216$137,689,342
92$341,475,589$53,067,778$29,882,021$149,865,958
93$376,224,232$55,586,232$30,801,201$163,204,531
94$414,514,657$58,225,511$31,748,595$177,820,014
95$456,708,046$60,991,455$32,725,067$193,838,921
96$503,202,417$63,890,187$33,731,507$211,400,500
97$554,436,383$66,928,125$34,768,832$230,658,023
98$610,893,294$70,112,004$35,837,988$251,780,205
99$673,105,799$73,448,881$36,939,949$274,952,777
100$741,660,873$76,946,158$38,075,720$300,380,205