Can I retire at age 56 with 802,000?

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 $802,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$66,228$65,638$65,063$64,501$63,953$63,656
2 years$32,786$32,176$31,584$31,010$30,454$30,155
3 years$21,640$21,027$20,437$19,869$19,321$19,028
4 years$16,069$15,457$14,873$14,314$13,780$13,496
5 years$12,726$12,119$11,542$10,995$10,475$10,201
6 years$10,499$9,896$9,328$8,792$8,289$8,024
7 years$8,909$8,310$7,751$7,229$6,741$6,487
8 years$7,716$7,124$6,574$6,064$5,592$5,348
9 years$6,789$6,202$5,662$5,165$4,710$4,475
10 years$6,048$5,467$4,936$4,452$4,013$3,788
11 years$5,443$4,867$4,346$3,875$3,451$3,237
12 years$4,938$4,368$3,857$3,399$2,991$2,786
13 years$4,511$3,948$3,446$3,001$2,608$2,412
14 years$4,146$3,588$3,096$2,664$2,286$2,100
15 years$3,830$3,278$2,795$2,376$2,013$1,835
16 years$3,553$3,008$2,534$2,127$1,779$1,610
17 years$3,309$2,770$2,306$1,911$1,577$1,417
18 years$3,093$2,559$2,105$1,722$1,402$1,250
19 years$2,900$2,372$1,927$1,556$1,250$1,106
20 years$2,726$2,204$1,769$1,409$1,117$980
21 years$2,569$2,053$1,627$1,279$999$870
22 years$2,426$1,917$1,499$1,163$896$774
23 years$2,296$1,793$1,384$1,059$804$689
24 years$2,177$1,679$1,280$966$723$614
25 years$2,068$1,576$1,186$882$650$548
26 years$1,967$1,481$1,100$807$586$489
27 years$1,874$1,394$1,021$738$528$437
28 years$1,787$1,314$949$677$477$391
29 years$1,707$1,239$884$620$430$350
30 years$1,633$1,170$823$569$389$314
31 years$1,563$1,106$767$523$351$281
32 years$1,497$1,047$716$481$318$252
33 years$1,436$991$668$442$288$226
34 years$1,379$940$625$407$261$203
35 years$1,325$891$584$374$236$182
36 years$1,274$846$546$345$214$163
37 years$1,226$803$511$318$194$147
38 years$1,180$764$479$293$176$132
39 years$1,137$726$449$270$159$118
40 years$1,096$691$420$249$144$106
41 years$1,058$658$394$230$131$96
42 years$1,021$626$370$212$119$86
43 years$986$597$347$196$108$77
44 years$953$569$326$181$98$70
45 years$921$542$306$167$89$62
46 years$891$517$287$154$81$56
47 years$862$494$270$142$73$51
48 years$835$471$254$132$67$45
49 years$808$450$238$122$60$41
50 years$783$430$224$112$55$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $802,000, adding $6,099 every year, while hoping to spend $41,835 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: 45/45/10 Blend
55$802,000$802,000$802,000$802,000
56$890,095$847,589$835,158$927,368
57$936,373$844,609$818,624$950,823
58$985,968$840,080$800,133$971,469
59$1,039,177$833,884$779,577$992,909
60$1,096,320$825,892$756,841$1,015,230
61$1,157,754$815,969$731,804$1,038,533
62$1,223,866$803,973$704,341$1,062,930
63$1,295,084$789,752$674,320$1,088,549
64$1,371,878$773,145$641,605$1,115,531
65$1,454,763$753,982$606,052$1,144,037
66$1,544,305$732,083$567,511$1,174,249
67$1,641,127$707,258$525,825$1,206,368
68$1,745,912$679,304$480,831$1,240,621
69$1,859,413$648,008$432,357$1,277,264
70$1,982,458$613,145$380,225$1,316,582
71$2,115,954$574,475$324,248$1,358,893
72$2,260,902$531,745$264,231$1,404,554
73$2,418,403$484,689$199,972$1,453,963
74$2,589,665$433,024$131,256$1,507,567
75$2,776,021$376,452$57,863$1,565,860
76$2,978,935$314,658$0$1,629,397
77$3,200,018$247,308$0$1,700,978
78$3,441,045$174,051$0$1,785,839
79$3,703,967$94,515$0$1,878,590
80$3,990,933$8,307$0$1,980,114
81$4,304,308$0$0$2,091,386
82$4,646,696$0$0$2,255,574
83$5,020,962$0$0$2,439,638
84$5,430,264$0$0$2,641,028
85$5,878,075$0$0$2,861,465
86$6,368,221$0$0$3,102,844
87$6,904,916$0$0$3,367,253
88$7,492,798$0$0$3,656,992
89$8,136,977$0$0$3,974,592
90$8,843,080$0$0$4,322,841
91$9,617,303$0$0$4,704,811
92$10,466,472$0$0$5,123,885
93$11,398,105$0$0$5,583,789
94$12,420,482$0$0$6,088,627
95$13,542,725$0$0$6,642,921
96$14,774,879$0$0$7,251,649
97$16,128,014$0$0$7,920,299
98$17,614,320$0$0$8,654,915
99$19,247,229$0$0$9,462,154
100$21,041,536$0$0$10,349,350