Can I retire at age 56 with 804,000?

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 $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%16.2%
1 years$66,394$65,802$65,225$64,662$64,112$62,486
2 years$32,868$32,256$31,663$31,088$30,530$28,902
3 years$21,694$21,080$20,488$19,918$19,369$17,791
4 years$16,109$15,496$14,910$14,350$13,814$12,297
5 years$12,758$12,149$11,571$11,022$10,501$9,050
6 years$10,525$9,920$9,351$8,814$8,309$6,925
7 years$8,931$8,331$7,771$7,247$6,758$5,441
8 years$7,736$7,141$6,590$6,079$5,606$4,356
9 years$6,806$6,218$5,676$5,178$4,721$3,536
10 years$6,063$5,481$4,949$4,464$4,023$2,902
11 years$5,456$4,879$4,357$3,885$3,460$2,402
12 years$4,950$4,379$3,866$3,407$2,998$2,001
13 years$4,523$3,958$3,454$3,008$2,614$1,675
14 years$4,156$3,597$3,104$2,670$2,292$1,409
15 years$3,839$3,286$2,802$2,381$2,018$1,190
16 years$3,562$3,015$2,541$2,132$1,783$1,007
17 years$3,318$2,777$2,312$1,916$1,581$855
18 years$3,101$2,566$2,110$1,727$1,406$727
19 years$2,907$2,378$1,932$1,560$1,253$620
20 years$2,733$2,210$1,773$1,413$1,119$529
21 years$2,575$2,058$1,631$1,282$1,002$452
22 years$2,432$1,921$1,503$1,166$898$386
23 years$2,302$1,797$1,388$1,062$806$331
24 years$2,182$1,684$1,284$969$724$283
25 years$2,073$1,580$1,189$884$652$243
26 years$1,972$1,485$1,103$809$587$208
27 years$1,878$1,398$1,024$740$529$179
28 years$1,792$1,317$952$678$478$153
29 years$1,712$1,242$886$622$431$132
30 years$1,637$1,173$825$571$390$113
31 years$1,567$1,109$769$524$352$97
32 years$1,501$1,049$718$482$319$84
33 years$1,440$994$670$443$288$72
34 years$1,382$942$626$408$261$62
35 years$1,328$893$585$375$237$53
36 years$1,277$848$548$346$214$46
37 years$1,229$805$513$318$194$39
38 years$1,183$765$480$293$176$34
39 years$1,140$728$450$271$160$29
40 years$1,099$692$421$250$145$25
41 years$1,060$659$395$230$131$22
42 years$1,024$628$371$213$119$19
43 years$989$598$348$196$108$16
44 years$955$570$327$181$98$14
45 years$924$544$307$167$89$12
46 years$893$519$288$155$81$10
47 years$864$495$271$143$74$9
48 years$837$473$254$132$67$8
49 years$810$451$239$122$61$6
50 years$785$431$225$113$55$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $804,000, adding $4,427 every year, while hoping to spend $35,922 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: 61/17/22 Blend
55$804,000$804,000$804,000$804,000
56$890,574$847,962$835,500$939,491
57$943,192$851,292$825,269$976,463
58$999,973$853,581$813,491$1,012,456
59$1,061,304$854,739$800,076$1,050,937
60$1,127,609$854,674$784,931$1,092,154
61$1,199,357$853,284$767,957$1,136,380
62$1,277,059$850,463$749,052$1,183,918
63$1,361,281$846,098$728,108$1,235,102
64$1,452,644$840,069$705,011$1,290,305
65$1,551,830$832,249$679,645$1,349,934
66$1,659,590$822,502$651,887$1,414,443
67$1,776,750$810,686$621,606$1,484,332
68$1,904,218$796,650$588,670$1,560,155
69$2,042,995$780,232$552,937$1,642,523
70$2,194,180$761,263$514,260$1,732,112
71$2,358,984$739,562$472,485$1,829,669
72$2,538,739$714,940$427,453$1,936,019
73$2,734,913$687,194$378,995$2,052,074
74$2,949,118$656,111$326,936$2,178,842
75$3,183,133$621,466$271,093$2,317,435
76$3,438,914$583,018$211,275$2,469,083
77$3,718,613$540,517$147,283$2,635,142
78$4,024,604$493,694$78,909$2,817,113
79$4,359,496$442,267$5,935$3,016,651
80$4,726,165$385,939$0$3,235,585
81$5,127,777$324,394$0$3,492,819
82$5,567,820$257,298$0$3,776,281
83$6,050,133$184,301$0$4,087,093
84$6,578,945$105,030$0$4,428,031
85$7,158,914$19,093$0$4,802,158
86$7,795,171$0$0$5,212,846
87$8,493,367$0$0$5,677,645
88$9,259,726$0$0$6,191,807
89$10,101,105$0$0$6,756,366
90$11,025,056$0$0$7,376,400
91$12,039,900$0$0$8,057,500
92$13,154,802$0$0$8,805,827
93$14,379,860$0$0$9,628,167
94$15,726,196$0$0$10,531,996
95$17,206,066$0$0$11,525,550
96$18,832,970$0$0$12,617,905
97$20,621,782$0$0$13,819,058
98$22,588,891$0$0$15,140,023
99$24,752,351$0$0$16,592,937
100$27,132,054$0$0$18,191,170