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%15.3%
1 years$66,394$65,802$65,225$64,662$64,112$62,715
2 years$32,868$32,256$31,663$31,088$30,530$29,129
3 years$21,694$21,080$20,488$19,918$19,369$18,009
4 years$16,109$15,496$14,910$14,350$13,814$12,505
5 years$12,758$12,149$11,571$11,022$10,501$9,247
6 years$10,525$9,920$9,351$8,814$8,309$7,110
7 years$8,931$8,331$7,771$7,247$6,758$5,615
8 years$7,736$7,141$6,590$6,079$5,606$4,519
9 years$6,806$6,218$5,676$5,178$4,721$3,689
10 years$6,063$5,481$4,949$4,464$4,023$3,044
11 years$5,456$4,879$4,357$3,885$3,460$2,533
12 years$4,950$4,379$3,866$3,407$2,998$2,123
13 years$4,523$3,958$3,454$3,008$2,614$1,789
14 years$4,156$3,597$3,104$2,670$2,292$1,514
15 years$3,839$3,286$2,802$2,381$2,018$1,286
16 years$3,562$3,015$2,541$2,132$1,783$1,096
17 years$3,318$2,777$2,312$1,916$1,581$936
18 years$3,101$2,566$2,110$1,727$1,406$802
19 years$2,907$2,378$1,932$1,560$1,253$688
20 years$2,733$2,210$1,773$1,413$1,119$591
21 years$2,575$2,058$1,631$1,282$1,002$508
22 years$2,432$1,921$1,503$1,166$898$438
23 years$2,302$1,797$1,388$1,062$806$377
24 years$2,182$1,684$1,284$969$724$326
25 years$2,073$1,580$1,189$884$652$281
26 years$1,972$1,485$1,103$809$587$243
27 years$1,878$1,398$1,024$740$529$210
28 years$1,792$1,317$952$678$478$182
29 years$1,712$1,242$886$622$431$157
30 years$1,637$1,173$825$571$390$136
31 years$1,567$1,109$769$524$352$118
32 years$1,501$1,049$718$482$319$102
33 years$1,440$994$670$443$288$88
34 years$1,382$942$626$408$261$76
35 years$1,328$893$585$375$237$66
36 years$1,277$848$548$346$214$57
37 years$1,229$805$513$318$194$50
38 years$1,183$765$480$293$176$43
39 years$1,140$728$450$271$160$37
40 years$1,099$692$421$250$145$32
41 years$1,060$659$395$230$131$28
42 years$1,024$628$371$213$119$24
43 years$989$598$348$196$108$21
44 years$955$570$327$181$98$18
45 years$924$544$307$167$89$16
46 years$893$519$288$155$81$14
47 years$864$495$271$143$74$12
48 years$837$473$254$132$67$10
49 years$810$451$239$122$61$9
50 years$785$431$225$113$55$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $804,000, adding $6,210 every year, while hoping to spend $43,718 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: 73/12/15 Blend
55$804,000$804,000$804,000$804,000
56$892,414$849,802$837,340$954,146
57$936,924$844,926$818,875$990,994
58$984,510$838,347$798,326$1,025,386
59$1,035,437$829,934$775,578$1,061,899
60$1,090,001$819,549$750,509$1,100,732
61$1,148,521$807,048$722,991$1,142,108
62$1,211,352$792,275$692,893$1,186,269
63$1,278,881$775,067$660,076$1,233,485
64$1,351,533$755,251$624,395$1,284,056
65$1,429,775$732,644$585,697$1,338,309
66$1,514,119$707,051$543,826$1,396,608
67$1,605,130$678,267$498,614$1,459,356
68$1,703,426$646,075$449,890$1,526,995
69$1,809,687$610,244$397,473$1,600,018
70$1,924,660$570,532$341,174$1,678,964
71$2,049,169$526,680$280,796$1,764,433
72$2,184,115$478,419$216,134$1,857,085
73$2,330,492$425,459$146,972$1,957,651
74$2,489,393$367,497$73,087$2,066,936
75$2,662,020$304,213$0$2,185,830
76$2,849,694$235,267$0$2,316,239
77$3,053,869$160,302$0$2,470,869
78$3,276,146$78,939$0$2,639,250
79$3,518,284$0$0$2,822,747
80$3,782,222$0$0$3,024,084
81$4,070,091$0$0$3,255,079
82$4,384,239$0$0$3,507,195
83$4,727,247$0$0$3,782,509
84$5,101,961$0$0$4,083,310
85$5,511,511$0$0$4,412,114
86$5,959,343$0$0$4,771,695
87$6,449,252$0$0$5,165,102
88$6,985,416$0$0$5,595,699
89$7,572,437$0$0$6,067,184
90$8,215,382$0$0$6,583,634
91$8,919,829$0$0$7,149,536
92$9,691,923$0$0$7,769,833
93$10,538,433$0$0$8,449,968
94$11,466,812$0$0$9,195,937
95$12,485,269$0$0$10,014,342
96$13,602,848$0$0$10,912,459
97$14,829,508$0$0$11,898,297
98$16,176,221$0$0$12,980,684
99$17,655,074$0$0$14,169,339
100$19,279,378$0$0$15,474,974