Can I retire at age 56 with 800,000?

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 $800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$66,063$65,475$64,901$64,340$63,793$63,101
2 years$32,705$32,095$31,505$30,933$30,378$29,680
3 years$21,586$20,975$20,386$19,819$19,273$18,593
4 years$16,029$15,419$14,836$14,278$13,746$13,087
5 years$12,695$12,088$11,513$10,967$10,449$9,815
6 years$10,473$9,871$9,304$8,771$8,268$7,659
7 years$8,886$8,290$7,732$7,211$6,724$6,140
8 years$7,697$7,106$6,557$6,049$5,578$5,019
9 years$6,773$6,187$5,648$5,152$4,698$4,163
10 years$6,033$5,453$4,924$4,441$4,003$3,493
11 years$5,429$4,855$4,335$3,865$3,442$2,957
12 years$4,926$4,357$3,847$3,390$2,983$2,521
13 years$4,500$3,938$3,437$2,993$2,601$2,162
14 years$4,136$3,579$3,088$2,657$2,280$1,863
15 years$3,820$3,270$2,788$2,370$2,008$1,613
16 years$3,544$3,000$2,528$2,122$1,775$1,400
17 years$3,301$2,763$2,300$1,906$1,573$1,220
18 years$3,085$2,553$2,100$1,718$1,399$1,065
19 years$2,892$2,366$1,922$1,552$1,247$932
20 years$2,719$2,199$1,764$1,406$1,114$817
21 years$2,562$2,048$1,623$1,276$997$717
22 years$2,420$1,912$1,496$1,160$893$631
23 years$2,290$1,788$1,381$1,057$802$555
24 years$2,172$1,675$1,277$964$721$489
25 years$2,063$1,572$1,183$880$649$431
26 years$1,962$1,478$1,097$805$584$381
27 years$1,869$1,391$1,019$737$527$336
28 years$1,783$1,310$947$675$475$297
29 years$1,703$1,236$881$619$429$263
30 years$1,628$1,167$821$568$388$233
31 years$1,559$1,104$765$522$351$206
32 years$1,494$1,044$714$479$317$182
33 years$1,433$989$667$441$287$162
34 years$1,375$937$623$406$260$143
35 years$1,321$889$582$373$235$127
36 years$1,271$844$545$344$213$112
37 years$1,223$801$510$317$193$100
38 years$1,177$762$478$292$175$88
39 years$1,134$724$447$269$159$78
40 years$1,094$689$419$248$144$70
41 years$1,055$656$393$229$131$62
42 years$1,019$625$369$211$119$55
43 years$984$595$346$195$108$49
44 years$951$567$325$180$98$43
45 years$919$541$305$166$89$38
46 years$889$516$287$154$81$34
47 years$860$492$269$142$73$30
48 years$833$470$253$131$66$27
49 years$806$449$238$121$60$24
50 years$781$429$224$112$55$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $800,000, adding $5,121 every year, while hoping to spend $41,187 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: 71/6/23 Blend
55$800,000$800,000$800,000$800,000
56$886,882$844,482$832,082$944,418
57$933,522$842,039$816,134$981,043
58$983,538$838,096$798,272$1,015,797
59$1,037,232$832,536$778,387$1,052,850
60$1,094,934$825,234$756,367$1,092,426
61$1,157,006$816,060$732,095$1,134,771
62$1,223,847$804,874$705,447$1,180,160
63$1,295,894$791,527$676,294$1,228,895
64$1,373,627$775,864$644,501$1,281,310
65$1,457,574$757,718$609,929$1,337,774
66$1,548,314$736,914$572,429$1,398,695
67$1,646,485$713,265$531,848$1,464,522
68$1,752,787$686,575$488,025$1,535,755
69$1,867,990$656,636$440,793$1,612,941
70$1,992,941$623,227$389,975$1,696,689
71$2,128,570$586,115$335,389$1,787,669
72$2,275,904$545,054$276,844$1,886,622
73$2,436,067$499,783$214,139$1,994,365
74$2,610,299$450,026$147,066$2,111,801
75$2,799,964$395,492$75,408$2,239,927
76$3,006,563$335,873$0$2,379,844
77$3,231,747$270,845$0$2,533,029
78$3,477,332$200,063$0$2,720,328
79$3,745,319$123,166$0$2,924,757
80$4,037,910$39,770$0$3,148,015
81$4,357,528$0$0$3,391,972
82$4,706,842$0$0$3,662,023
83$5,088,788$0$0$3,960,213
84$5,506,600$0$0$4,286,446
85$5,963,841$0$0$4,643,506
86$6,464,430$0$0$5,034,461
87$7,012,686$0$0$5,462,689
88$7,613,364$0$0$5,931,910
89$8,271,701$0$0$6,446,221
90$8,993,464$0$0$7,010,132
91$9,785,006$0$0$7,628,614
92$10,653,322$0$0$8,307,140
93$11,606,119$0$0$9,051,738
94$12,651,886$0$0$9,869,050
95$13,799,972$0$0$10,766,389
96$15,060,677$0$0$11,751,814
97$16,445,346$0$0$12,834,200
98$17,966,480$0$0$14,023,327
99$19,637,845$0$0$15,329,965
100$21,474,612$0$0$16,765,983