Can I retire at age 56 with 801,000?

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 $801,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$66,146$65,557$64,982$64,421$63,873$63,338
2 years$32,745$32,136$31,545$30,972$30,416$29,876
3 years$21,613$21,001$20,411$19,844$19,297$18,770
4 years$16,049$15,438$14,854$14,296$13,763$13,252
5 years$12,710$12,104$11,528$10,981$10,462$9,970
6 years$10,486$9,883$9,316$8,782$8,278$7,805
7 years$8,897$8,300$7,742$7,220$6,733$6,278
8 years$7,707$7,115$6,565$6,056$5,585$5,150
9 years$6,781$6,195$5,655$5,159$4,704$4,287
10 years$6,041$5,460$4,930$4,447$4,008$3,609
11 years$5,436$4,861$4,340$3,870$3,447$3,067
12 years$4,932$4,363$3,852$3,395$2,987$2,625
13 years$4,506$3,943$3,441$2,997$2,605$2,260
14 years$4,141$3,584$3,092$2,660$2,283$1,955
15 years$3,825$3,274$2,792$2,373$2,010$1,699
16 years$3,549$3,004$2,531$2,124$1,777$1,481
17 years$3,305$2,766$2,303$1,909$1,575$1,296
18 years$3,089$2,556$2,103$1,720$1,401$1,136
19 years$2,896$2,369$1,925$1,554$1,249$998
20 years$2,722$2,202$1,767$1,408$1,115$879
21 years$2,565$2,051$1,625$1,278$998$775
22 years$2,423$1,914$1,498$1,162$895$685
23 years$2,293$1,790$1,383$1,058$803$606
24 years$2,174$1,677$1,279$965$722$536
25 years$2,065$1,574$1,184$881$649$475
26 years$1,964$1,479$1,098$806$585$421
27 years$1,871$1,392$1,020$737$527$374
28 years$1,785$1,312$948$676$476$332
29 years$1,705$1,238$882$620$430$295
30 years$1,630$1,169$822$569$388$262
31 years$1,561$1,105$766$522$351$233
32 years$1,496$1,046$715$480$318$208
33 years$1,434$990$668$441$287$185
34 years$1,377$938$624$406$260$165
35 years$1,323$890$583$374$236$147
36 years$1,272$845$546$344$214$131
37 years$1,224$802$511$317$194$117
38 years$1,179$763$478$292$175$104
39 years$1,136$725$448$270$159$93
40 years$1,095$690$420$249$144$83
41 years$1,056$657$394$229$131$74
42 years$1,020$625$369$212$119$66
43 years$985$596$347$195$108$59
44 years$952$568$325$180$98$52
45 years$920$542$305$167$89$47
46 years$890$517$287$154$81$42
47 years$861$493$270$142$73$37
48 years$834$471$253$131$67$33
49 years$807$450$238$121$60$30
50 years$782$429$224$112$55$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $801,000, adding $3,243 every year, while hoping to spend $40,721 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: 73/18/9 Blend
55$801,000$801,000$801,000$801,000
56$886,047$843,594$831,179$949,100
57$933,097$841,603$815,696$989,162
58$983,581$838,150$798,331$1,027,625
59$1,037,807$833,120$778,975$1,068,619
60$1,096,112$826,392$757,519$1,112,382
61$1,158,866$817,835$733,847$1,159,177
62$1,226,476$807,315$707,836$1,209,294
63$1,299,388$794,685$679,360$1,263,053
64$1,378,094$779,793$648,287$1,320,808
65$1,463,132$762,475$614,477$1,382,949
66$1,555,094$742,559$577,785$1,449,906
67$1,654,632$719,863$538,059$1,522,156
68$1,762,463$694,194$495,142$1,600,223
69$1,879,372$665,348$448,867$1,684,687
70$2,006,226$633,108$399,062$1,776,186
71$2,143,976$597,245$345,546$1,875,428
72$2,293,670$557,519$288,131$1,983,191
73$2,456,460$513,673$226,618$2,100,336
74$2,633,613$465,436$160,804$2,227,811
75$2,826,522$412,524$90,472$2,366,666
76$3,036,724$354,634$15,399$2,518,057
77$3,265,906$291,447$0$2,683,260
78$3,515,926$222,626$0$2,869,900
79$3,788,831$147,815$0$3,075,297
80$4,086,872$66,638$0$3,299,714
81$4,412,528$0$0$3,545,067
82$4,768,528$0$0$3,817,694
83$5,157,877$0$0$4,130,330
84$5,583,882$0$0$4,472,436
85$6,050,186$0$0$4,846,943
86$6,560,802$0$0$5,257,077
87$7,120,145$0$0$5,706,390
88$7,733,081$0$0$6,198,796
89$8,404,966$0$0$6,738,603
90$9,141,702$0$0$7,330,557
91$9,949,787$0$0$7,979,887
92$10,836,379$0$0$8,692,349
93$11,809,363$0$0$9,474,285
94$12,877,422$0$0$10,332,681
95$14,050,124$0$0$11,275,232
96$15,338,006$0$0$12,310,414
97$16,752,678$0$0$13,447,567
98$18,306,927$0$0$14,696,975
99$20,014,843$0$0$16,069,973
100$21,891,945$0$0$17,579,045