Can I retire at age 56 with 804,000?

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 $804,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$66,394$65,802$65,225$64,662$64,112$61,739
2 years$32,868$32,256$31,663$31,088$30,530$28,166
3 years$21,694$21,080$20,488$19,918$19,369$17,089
4 years$16,109$15,496$14,910$14,350$13,814$11,635
5 years$12,758$12,149$11,571$11,022$10,501$8,428
6 years$10,525$9,920$9,351$8,814$8,309$6,344
7 years$8,931$8,331$7,771$7,247$6,758$4,900
8 years$7,736$7,141$6,590$6,079$5,606$3,854
9 years$6,806$6,218$5,676$5,178$4,721$3,072
10 years$6,063$5,481$4,949$4,464$4,023$2,474
11 years$5,456$4,879$4,357$3,885$3,460$2,008
12 years$4,950$4,379$3,866$3,407$2,998$1,640
13 years$4,523$3,958$3,454$3,008$2,614$1,346
14 years$4,156$3,597$3,104$2,670$2,292$1,109
15 years$3,839$3,286$2,802$2,381$2,018$916
16 years$3,562$3,015$2,541$2,132$1,783$759
17 years$3,318$2,777$2,312$1,916$1,581$630
18 years$3,101$2,566$2,110$1,727$1,406$524
19 years$2,907$2,378$1,932$1,560$1,253$437
20 years$2,733$2,210$1,773$1,413$1,119$364
21 years$2,575$2,058$1,631$1,282$1,002$304
22 years$2,432$1,921$1,503$1,166$898$254
23 years$2,302$1,797$1,388$1,062$806$212
24 years$2,182$1,684$1,284$969$724$178
25 years$2,073$1,580$1,189$884$652$149
26 years$1,972$1,485$1,103$809$587$125
27 years$1,878$1,398$1,024$740$529$104
28 years$1,792$1,317$952$678$478$87
29 years$1,712$1,242$886$622$431$73
30 years$1,637$1,173$825$571$390$61
31 years$1,567$1,109$769$524$352$51
32 years$1,501$1,049$718$482$319$43
33 years$1,440$994$670$443$288$36
34 years$1,382$942$626$408$261$30
35 years$1,328$893$585$375$237$25
36 years$1,277$848$548$346$214$21
37 years$1,229$805$513$318$194$18
38 years$1,183$765$480$293$176$15
39 years$1,140$728$450$271$160$13
40 years$1,099$692$421$250$145$11
41 years$1,060$659$395$230$131$9
42 years$1,024$628$371$213$119$7
43 years$989$598$348$196$108$6
44 years$955$570$327$181$98$5
45 years$924$544$307$167$89$4
46 years$893$519$288$155$81$4
47 years$864$495$271$143$74$3
48 years$837$473$254$132$67$3
49 years$810$451$239$122$61$2
50 years$785$431$225$113$55$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $804,000, adding $4,069 every year, while hoping to spend $58,914 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: 58/31/11 Blend
55$804,000$804,000$804,000$804,000
56$890,205$847,593$835,131$939,227
57$918,322$826,441$800,424$951,593
58$947,332$802,278$762,580$958,129
59$977,265$774,895$721,431$963,837
60$1,008,150$744,068$676,802$968,643
61$1,040,018$709,564$628,512$972,471
62$1,072,901$671,134$576,368$975,238
63$1,106,832$628,515$520,172$976,858
64$1,141,846$581,430$459,715$977,238
65$1,177,979$529,584$394,780$976,282
66$1,215,266$472,667$325,138$973,885
67$1,253,746$410,350$250,553$969,940
68$1,293,458$342,288$170,777$964,330
69$1,334,444$268,113$85,551$956,934
70$1,376,746$187,439$0$947,621
71$1,420,407$99,857$0$936,890
72$1,465,474$4,935$0$934,718
73$1,511,993$0$0$930,937
74$1,560,014$0$0$958,776
75$1,609,587$0$0$989,255
76$1,660,767$0$0$1,020,721
77$1,713,607$0$0$1,053,211
78$1,768,166$0$0$1,086,757
79$1,824,502$0$0$1,121,399
80$1,882,678$0$0$1,157,173
81$1,942,758$0$0$1,194,120
82$2,004,811$0$0$1,232,281
83$2,068,904$0$0$1,271,700
84$2,135,114$0$0$1,312,423
85$2,203,514$0$0$1,354,495
86$2,274,186$0$0$1,397,968
87$2,347,213$0$0$1,442,892
88$2,422,681$0$0$1,489,322
89$2,500,684$0$0$1,537,315
90$2,581,315$0$0$1,586,929
91$2,664,676$0$0$1,638,228
92$2,750,872$0$0$1,691,275
93$2,840,014$0$0$1,746,142
94$2,932,218$0$0$1,802,898
95$3,027,605$0$0$1,861,622
96$3,126,306$0$0$1,922,392
97$3,228,456$0$0$1,985,294
98$3,334,198$0$0$2,050,416
99$3,443,683$0$0$2,117,854
100$3,557,072$0$0$2,187,706