Can I retire at age 56 with 802,000?

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 $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%17%
1 years$66,228$65,638$65,063$64,501$63,953$62,130
2 years$32,786$32,176$31,584$31,010$30,454$28,631
3 years$21,640$21,027$20,437$19,869$19,321$17,556
4 years$16,069$15,457$14,873$14,314$13,780$12,086
5 years$12,726$12,119$11,542$10,995$10,475$8,857
6 years$10,499$9,896$9,328$8,792$8,289$6,748
7 years$8,909$8,310$7,751$7,229$6,741$5,278
8 years$7,716$7,124$6,574$6,064$5,592$4,206
9 years$6,789$6,202$5,662$5,165$4,710$3,398
10 years$6,048$5,467$4,936$4,452$4,013$2,774
11 years$5,443$4,867$4,346$3,875$3,451$2,284
12 years$4,938$4,368$3,857$3,399$2,991$1,893
13 years$4,511$3,948$3,446$3,001$2,608$1,577
14 years$4,146$3,588$3,096$2,664$2,286$1,319
15 years$3,830$3,278$2,795$2,376$2,013$1,107
16 years$3,553$3,008$2,534$2,127$1,779$932
17 years$3,309$2,770$2,306$1,911$1,577$787
18 years$3,093$2,559$2,105$1,722$1,402$665
19 years$2,900$2,372$1,927$1,556$1,250$563
20 years$2,726$2,204$1,769$1,409$1,117$478
21 years$2,569$2,053$1,627$1,279$999$406
22 years$2,426$1,917$1,499$1,163$896$345
23 years$2,296$1,793$1,384$1,059$804$293
24 years$2,177$1,679$1,280$966$723$250
25 years$2,068$1,576$1,186$882$650$213
26 years$1,967$1,481$1,100$807$586$181
27 years$1,874$1,394$1,021$738$528$155
28 years$1,787$1,314$949$677$477$132
29 years$1,707$1,239$884$620$430$112
30 years$1,633$1,170$823$569$389$96
31 years$1,563$1,106$767$523$351$82
32 years$1,497$1,047$716$481$318$70
33 years$1,436$991$668$442$288$60
34 years$1,379$940$625$407$261$51
35 years$1,325$891$584$374$236$44
36 years$1,274$846$546$345$214$37
37 years$1,226$803$511$318$194$32
38 years$1,180$764$479$293$176$27
39 years$1,137$726$449$270$159$23
40 years$1,096$691$420$249$144$20
41 years$1,058$658$394$230$131$17
42 years$1,021$626$370$212$119$14
43 years$986$597$347$196$108$12
44 years$953$569$326$181$98$11
45 years$921$542$306$167$89$9
46 years$891$517$287$154$81$8
47 years$862$494$270$142$73$7
48 years$835$471$254$132$67$6
49 years$808$450$238$122$60$5
50 years$783$430$224$112$55$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $802,000, adding $6,400 every year, while hoping to spend $55,486 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: 77/16/7 Blend
55$802,000$802,000$802,000$802,000
56$890,406$847,900$835,469$957,712
57$922,190$830,410$804,420$985,325
58$955,357$810,204$770,472$1,007,786
59$989,989$787,089$733,468$1,030,787
60$1,026,175$760,863$693,246$1,054,355
61$1,064,011$731,311$649,636$1,078,527
62$1,103,600$698,206$602,459$1,103,337
63$1,145,056$661,307$551,530$1,128,830
64$1,188,501$620,360$496,655$1,155,050
65$1,234,066$575,096$437,632$1,182,052
66$1,281,896$525,231$374,247$1,209,894
67$1,332,146$470,464$306,281$1,238,643
68$1,384,986$410,477$233,502$1,268,371
69$1,440,600$344,936$155,670$1,299,162
70$1,499,188$273,484$72,532$1,331,109
71$1,560,968$195,749$0$1,364,315
72$1,626,180$111,334$0$1,400,105
73$1,695,082$19,821$0$1,443,260
74$1,767,958$0$0$1,488,523
75$1,845,116$0$0$1,550,028
76$1,926,895$0$0$1,618,928
77$2,013,662$0$0$1,692,046
78$2,105,822$0$0$1,769,724
79$2,203,815$0$0$1,852,335
80$2,308,124$0$0$1,940,288
81$2,419,278$0$0$2,034,032
82$2,537,855$0$0$2,134,056
83$2,664,489$0$0$2,240,898
84$2,799,874$0$0$2,355,147
85$2,944,772$0$0$2,477,448
86$3,100,018$0$0$2,608,509
87$3,266,527$0$0$2,749,107
88$3,445,306$0$0$2,900,093
89$3,637,456$0$0$3,062,404
90$3,844,188$0$0$3,237,064
91$4,066,832$0$0$3,425,203
92$4,306,847$0$0$3,628,057
93$4,565,838$0$0$3,846,987
94$4,845,566$0$0$4,083,487
95$5,147,968$0$0$4,339,200
96$5,475,172$0$0$4,615,930
97$5,829,516$0$0$4,915,661
98$6,213,575$0$0$5,240,576
99$6,630,174$0$0$5,593,073
100$7,082,426$0$0$5,975,791