Can I retire at age 56 with 800,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%14.6%
1 years$66,063$65,475$64,901$64,340$63,793$62,582
2 years$32,705$32,095$31,505$30,933$30,378$29,162
3 years$21,586$20,975$20,386$19,819$19,273$18,091
4 years$16,029$15,419$14,836$14,278$13,746$12,606
5 years$12,695$12,088$11,513$10,967$10,449$9,356
6 years$10,473$9,871$9,304$8,771$8,268$7,222
7 years$8,886$8,290$7,732$7,211$6,724$5,725
8 years$7,697$7,106$6,557$6,049$5,578$4,626
9 years$6,773$6,187$5,648$5,152$4,698$3,792
10 years$6,033$5,453$4,924$4,441$4,003$3,143
11 years$5,429$4,855$4,335$3,865$3,442$2,627
12 years$4,926$4,357$3,847$3,390$2,983$2,212
13 years$4,500$3,938$3,437$2,993$2,601$1,872
14 years$4,136$3,579$3,088$2,657$2,280$1,592
15 years$3,820$3,270$2,788$2,370$2,008$1,359
16 years$3,544$3,000$2,528$2,122$1,775$1,164
17 years$3,301$2,763$2,300$1,906$1,573$999
18 years$3,085$2,553$2,100$1,718$1,399$860
19 years$2,892$2,366$1,922$1,552$1,247$742
20 years$2,719$2,199$1,764$1,406$1,114$641
21 years$2,562$2,048$1,623$1,276$997$554
22 years$2,420$1,912$1,496$1,160$893$480
23 years$2,290$1,788$1,381$1,057$802$416
24 years$2,172$1,675$1,277$964$721$361
25 years$2,063$1,572$1,183$880$649$313
26 years$1,962$1,478$1,097$805$584$272
27 years$1,869$1,391$1,019$737$527$237
28 years$1,783$1,310$947$675$475$206
29 years$1,703$1,236$881$619$429$179
30 years$1,628$1,167$821$568$388$156
31 years$1,559$1,104$765$522$351$136
32 years$1,494$1,044$714$479$317$118
33 years$1,433$989$667$441$287$103
34 years$1,375$937$623$406$260$90
35 years$1,321$889$582$373$235$78
36 years$1,271$844$545$344$213$68
37 years$1,223$801$510$317$193$59
38 years$1,177$762$478$292$175$52
39 years$1,134$724$447$269$159$45
40 years$1,094$689$419$248$144$39
41 years$1,055$656$393$229$131$34
42 years$1,019$625$369$211$119$30
43 years$984$595$346$195$108$26
44 years$951$567$325$180$98$23
45 years$919$541$305$166$89$20
46 years$889$516$287$154$81$17
47 years$860$492$269$142$73$15
48 years$833$470$253$131$66$13
49 years$806$449$238$121$60$12
50 years$781$429$224$112$55$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $800,000, adding $6,955 every year, while hoping to spend $55,868 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: 62/12/26 Blend
55$800,000$800,000$800,000$800,000
56$888,774$846,374$833,974$937,326
57$919,986$828,403$802,469$953,109
58$952,509$807,679$768,036$963,614
59$986,418$784,009$730,518$973,871
60$1,021,793$757,186$689,751$983,865
61$1,058,722$726,994$645,564$993,582
62$1,097,297$693,202$597,776$1,003,009
63$1,137,621$655,568$546,201$1,012,133
64$1,179,802$613,835$490,643$1,020,946
65$1,223,959$567,731$430,897$1,029,439
66$1,270,221$516,967$366,749$1,037,607
67$1,318,726$461,241$297,978$1,045,446
68$1,369,625$400,231$224,349$1,052,956
69$1,423,082$333,597$145,620$1,060,142
70$1,479,275$260,982$61,537$1,067,012
71$1,538,397$182,007$0$1,073,579
72$1,600,660$96,271$0$1,087,686
73$1,666,291$3,352$0$1,120,262
74$1,735,541$0$0$1,154,333
75$1,808,683$0$0$1,202,858
76$1,886,012$0$0$1,254,656
77$1,967,854$0$0$1,309,505
78$2,054,562$0$0$1,367,644
79$2,146,522$0$0$1,429,337
80$2,244,158$0$0$1,494,873
81$2,347,932$0$0$1,564,565
82$2,458,349$0$0$1,638,757
83$2,575,963$0$0$1,717,828
84$2,701,379$0$0$1,802,189
85$2,835,262$0$0$1,892,293
86$2,978,339$0$0$1,988,635
87$3,131,407$0$0$2,091,760
88$3,295,340$0$0$2,202,261
89$3,471,097$0$0$2,320,794
90$3,659,730$0$0$2,448,075
91$3,862,392$0$0$2,584,892
92$4,080,351$0$0$2,732,108
93$4,314,998$0$0$2,890,672
94$4,567,860$0$0$3,061,626
95$4,840,615$0$0$3,246,114
96$5,135,106$0$0$3,445,395
97$5,453,359$0$0$3,660,850
98$5,797,599$0$0$3,893,998
99$6,170,274$0$0$4,146,509
100$6,574,074$0$0$4,420,219