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%11.2%
1 years$66,063$65,475$64,901$64,340$63,793$63,471
2 years$32,705$32,095$31,505$30,933$30,378$30,053
3 years$21,586$20,975$20,386$19,819$19,273$18,955
4 years$16,029$15,419$14,836$14,278$13,746$13,437
5 years$12,695$12,088$11,513$10,967$10,449$10,151
6 years$10,473$9,871$9,304$8,771$8,268$7,981
7 years$8,886$8,290$7,732$7,211$6,724$6,448
8 years$7,697$7,106$6,557$6,049$5,578$5,313
9 years$6,773$6,187$5,648$5,152$4,698$4,443
10 years$6,033$5,453$4,924$4,441$4,003$3,759
11 years$5,429$4,855$4,335$3,865$3,442$3,210
12 years$4,926$4,357$3,847$3,390$2,983$2,761
13 years$4,500$3,938$3,437$2,993$2,601$2,389
14 years$4,136$3,579$3,088$2,657$2,280$2,078
15 years$3,820$3,270$2,788$2,370$2,008$1,816
16 years$3,544$3,000$2,528$2,122$1,775$1,592
17 years$3,301$2,763$2,300$1,906$1,573$1,400
18 years$3,085$2,553$2,100$1,718$1,399$1,234
19 years$2,892$2,366$1,922$1,552$1,247$1,091
20 years$2,719$2,199$1,764$1,406$1,114$966
21 years$2,562$2,048$1,623$1,276$997$857
22 years$2,420$1,912$1,496$1,160$893$762
23 years$2,290$1,788$1,381$1,057$802$678
24 years$2,172$1,675$1,277$964$721$603
25 years$2,063$1,572$1,183$880$649$538
26 years$1,962$1,478$1,097$805$584$480
27 years$1,869$1,391$1,019$737$527$429
28 years$1,783$1,310$947$675$475$383
29 years$1,703$1,236$881$619$429$343
30 years$1,628$1,167$821$568$388$307
31 years$1,559$1,104$765$522$351$275
32 years$1,494$1,044$714$479$317$246
33 years$1,433$989$667$441$287$221
34 years$1,375$937$623$406$260$198
35 years$1,321$889$582$373$235$177
36 years$1,271$844$545$344$213$159
37 years$1,223$801$510$317$193$143
38 years$1,177$762$478$292$175$128
39 years$1,134$724$447$269$159$115
40 years$1,094$689$419$248$144$103
41 years$1,055$656$393$229$131$93
42 years$1,019$625$369$211$119$83
43 years$984$595$346$195$108$75
44 years$951$567$325$180$98$67
45 years$919$541$305$166$89$60
46 years$889$516$287$154$81$54
47 years$860$492$269$142$73$49
48 years$833$470$253$131$66$44
49 years$806$449$238$121$60$39
50 years$781$429$224$112$55$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $800,000, adding $6,801 every year, while hoping to spend $49,443 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: 59/16/25 Blend
55$800,000$800,000$800,000$800,000
56$888,615$846,215$833,815$934,690
57$926,647$835,073$809,141$955,727
58$966,901$821,727$781,983$972,769
59$1,009,551$806,019$752,206$990,300
60$1,054,789$787,777$719,669$1,008,378
61$1,102,822$766,823$684,222$1,027,072
62$1,153,879$742,966$645,712$1,046,457
63$1,208,208$716,005$603,977$1,066,621
64$1,266,083$685,727$558,848$1,087,660
65$1,327,802$651,906$510,148$1,109,687
66$1,393,693$614,304$457,693$1,132,826
67$1,464,114$572,669$401,290$1,157,218
68$1,539,458$526,735$340,738$1,183,023
69$1,620,157$476,218$275,827$1,210,420
70$1,706,682$420,823$206,336$1,239,608
71$1,799,553$360,232$132,038$1,270,814
72$1,899,339$294,115$52,692$1,304,290
73$2,006,664$222,119$0$1,340,319
74$2,122,214$143,874$0$1,387,749
75$2,246,743$58,987$0$1,453,957
76$2,381,078$0$0$1,525,341
77$2,526,128$0$0$1,608,219
78$2,682,892$0$0$1,709,065
79$2,852,467$0$0$1,818,208
80$3,036,061$0$0$1,936,430
81$3,234,999$0$0$2,064,592
82$3,450,740$0$0$2,203,643
83$3,684,889$0$0$2,354,623
84$3,939,210$0$0$2,518,679
85$4,215,642$0$0$2,697,071
86$4,516,322$0$0$2,891,185
87$4,843,598$0$0$3,102,548
88$5,200,054$0$0$3,332,839
89$5,588,535$0$0$3,583,905
90$6,012,170$0$0$3,857,780
91$6,474,404$0$0$4,156,703
92$6,979,029$0$0$4,483,136
93$7,530,220$0$0$4,839,793
94$8,132,571$0$0$5,229,659
95$8,791,142$0$0$5,656,022
96$9,511,501$0$0$6,122,502
97$10,299,783$0$0$6,633,083
98$11,162,739$0$0$7,192,156
99$12,107,807$0$0$7,804,553
100$13,143,176$0$0$8,475,597