Can I retire at age 56 with 803,000?

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 $803,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$66,311$65,720$65,144$64,582$64,032$61,613
2 years$32,827$32,216$31,623$31,049$30,492$28,083
3 years$21,667$21,053$20,462$19,893$19,345$17,022
4 years$16,089$15,476$14,891$14,332$13,797$11,577
5 years$12,742$12,134$11,556$11,008$10,488$8,378
6 years$10,512$9,908$9,339$8,803$8,299$6,299
7 years$8,920$8,321$7,761$7,238$6,749$4,860
8 years$7,726$7,132$6,582$6,072$5,599$3,818
9 years$6,798$6,210$5,669$5,172$4,715$3,040
10 years$6,056$5,474$4,942$4,458$4,018$2,445
11 years$5,449$4,873$4,351$3,880$3,455$1,982
12 years$4,944$4,374$3,862$3,403$2,994$1,616
13 years$4,517$3,953$3,450$3,004$2,611$1,325
14 years$4,151$3,593$3,100$2,667$2,289$1,090
15 years$3,834$3,282$2,799$2,379$2,015$899
16 years$3,558$3,011$2,538$2,130$1,781$744
17 years$3,314$2,773$2,309$1,914$1,579$617
18 years$3,097$2,563$2,108$1,724$1,404$512
19 years$2,903$2,375$1,930$1,558$1,252$426
20 years$2,729$2,207$1,771$1,411$1,118$355
21 years$2,572$2,056$1,629$1,281$1,000$296
22 years$2,429$1,919$1,501$1,165$897$247
23 years$2,299$1,795$1,386$1,061$805$206
24 years$2,180$1,682$1,282$967$724$172
25 years$2,070$1,578$1,187$883$651$144
26 years$1,969$1,483$1,101$808$586$120
27 years$1,876$1,396$1,023$739$529$100
28 years$1,790$1,315$951$677$477$84
29 years$1,709$1,241$885$621$431$70
30 years$1,635$1,172$824$570$389$59
31 years$1,565$1,108$768$524$352$49
32 years$1,499$1,048$717$481$318$41
33 years$1,438$993$669$442$288$34
34 years$1,381$941$625$407$261$29
35 years$1,326$892$585$375$236$24
36 years$1,275$847$547$345$214$20
37 years$1,227$804$512$318$194$17
38 years$1,182$764$479$293$176$14
39 years$1,139$727$449$270$160$12
40 years$1,098$692$421$249$145$10
41 years$1,059$658$395$230$131$8
42 years$1,022$627$370$212$119$7
43 years$987$597$347$196$108$6
44 years$954$569$326$181$98$5
45 years$922$543$306$167$89$4
46 years$892$518$288$154$81$3
47 years$863$494$270$143$73$3
48 years$836$472$254$132$67$2
49 years$809$451$239$122$61$2
50 years$784$430$224$113$55$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $803,000, adding $4,034 every year, while hoping to spend $30,383 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: 72/9/19 Blend
55$803,000$803,000$803,000$803,000
56$889,067$846,508$834,062$948,770
57$947,425$855,660$829,675$998,149
58$1,010,716$864,241$824,124$1,048,173
59$1,079,413$872,193$817,336$1,102,186
60$1,154,034$879,451$809,237$1,160,580
61$1,235,149$885,947$799,750$1,223,784
62$1,323,384$891,609$788,792$1,292,273
63$1,419,430$896,359$776,277$1,366,571
64$1,524,046$900,115$762,117$1,447,255
65$1,638,068$902,790$746,217$1,534,961
66$1,762,416$904,291$728,479$1,630,392
67$1,898,100$904,519$708,801$1,734,320
68$2,046,236$903,370$687,076$1,847,599
69$2,208,049$900,732$663,190$1,971,169
70$2,384,889$896,487$637,026$2,106,068
71$2,578,244$890,511$608,462$2,253,438
72$2,789,748$882,670$577,370$2,414,541
73$3,021,205$872,822$543,614$2,590,766
74$3,274,597$860,820$507,054$2,783,646
75$3,552,110$846,505$467,545$2,994,872
76$3,856,150$829,708$424,932$3,226,306
77$4,189,366$810,253$379,057$3,480,003
78$4,554,677$787,951$329,750$3,758,227
79$4,955,297$762,603$276,839$4,063,476
80$5,394,765$733,998$220,141$4,398,503
81$5,876,980$701,914$159,466$4,766,343
82$6,406,238$666,114$94,614$5,170,344
83$6,987,270$626,348$25,378$5,614,194
84$7,625,285$582,353$0$6,101,961
85$8,326,026$533,850$0$6,647,963
86$9,095,815$480,543$0$7,253,440
87$9,941,620$422,122$0$7,918,739
88$10,871,115$358,255$0$8,649,918
89$11,892,755$288,596$0$9,453,653
90$13,015,856$212,777$0$10,337,300
91$14,250,678$130,408$0$11,308,963
92$15,608,530$41,080$0$12,377,575
93$17,101,867$0$0$13,552,979
94$18,744,414$0$0$14,851,531
95$20,551,294$0$0$16,284,519
96$22,539,166$0$0$17,861,093
97$24,726,387$0$0$19,595,817
98$27,133,184$0$0$21,504,739
99$29,781,843$0$0$23,605,540
100$32,696,919$0$0$25,917,704