Can I retire at age 56 with 805,000?

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 $805,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$66,476$65,884$65,306$64,742$64,192$63,337
2 years$32,909$32,296$31,702$31,126$30,568$29,708
3 years$21,721$21,106$20,513$19,943$19,393$18,555
4 years$16,129$15,515$14,928$14,368$13,831$13,022
5 years$12,774$12,164$11,585$11,036$10,514$9,735
6 years$10,538$9,933$9,362$8,825$8,320$7,572
7 years$8,942$8,342$7,780$7,256$6,766$6,050
8 years$7,745$7,150$6,598$6,087$5,613$4,929
9 years$6,815$6,226$5,683$5,185$4,727$4,074
10 years$6,071$5,488$4,955$4,469$4,028$3,405
11 years$5,463$4,885$4,362$3,889$3,464$2,872
12 years$4,956$4,385$3,871$3,412$3,002$2,439
13 years$4,528$3,963$3,459$3,012$2,618$2,084
14 years$4,162$3,602$3,108$2,674$2,295$1,789
15 years$3,844$3,290$2,806$2,384$2,020$1,542
16 years$3,566$3,019$2,544$2,135$1,786$1,333
17 years$3,322$2,780$2,315$1,918$1,583$1,156
18 years$3,105$2,569$2,113$1,729$1,408$1,005
19 years$2,910$2,381$1,934$1,562$1,255$876
20 years$2,736$2,213$1,775$1,415$1,121$764
21 years$2,578$2,061$1,633$1,284$1,003$668
22 years$2,435$1,924$1,505$1,167$899$585
23 years$2,305$1,799$1,390$1,063$807$512
24 years$2,185$1,686$1,285$970$725$449
25 years$2,075$1,582$1,190$886$653$395
26 years$1,974$1,487$1,104$810$588$347
27 years$1,881$1,399$1,025$741$530$305
28 years$1,794$1,319$953$679$478$268
29 years$1,714$1,244$887$623$432$236
30 years$1,639$1,175$826$572$390$208
31 years$1,569$1,110$770$525$353$183
32 years$1,503$1,051$719$482$319$161
33 years$1,442$995$671$444$289$142
34 years$1,384$943$627$408$261$125
35 years$1,330$895$586$376$237$110
36 years$1,279$849$548$346$215$97
37 years$1,230$806$513$319$194$86
38 years$1,185$766$481$294$176$76
39 years$1,141$729$450$271$160$67
40 years$1,101$693$422$250$145$59
41 years$1,062$660$396$231$132$52
42 years$1,025$629$371$213$119$46
43 years$990$599$348$196$108$41
44 years$956$571$327$181$98$36
45 years$925$544$307$168$89$32
46 years$894$519$288$155$81$28
47 years$865$496$271$143$74$25
48 years$838$473$255$132$67$22
49 years$811$452$239$122$61$19
50 years$786$432$225$113$55$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $805,000, adding $3,676 every year, while hoping to spend $39,966 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: 43/32/25 Blend
55$805,000$805,000$805,000$805,000
56$890,902$848,237$835,759$922,581
57$939,250$847,277$821,234$944,561
58$991,191$844,930$804,882$964,252
59$1,047,048$841,087$786,601$984,801
60$1,107,177$835,631$766,282$1,006,309
61$1,171,969$828,437$743,813$1,028,891
62$1,241,853$819,374$719,074$1,052,675
63$1,317,301$808,302$691,942$1,077,807
64$1,398,832$795,075$662,288$1,104,448
65$1,487,015$779,535$629,977$1,132,783
66$1,582,475$761,518$594,866$1,163,014
67$1,685,902$740,846$556,808$1,195,372
68$1,798,051$717,335$515,649$1,230,113
69$1,919,756$690,788$471,227$1,267,523
70$2,051,931$660,997$423,373$1,307,923
71$2,195,584$627,742$371,911$1,351,671
72$2,351,821$590,789$316,658$1,399,165
73$2,521,862$549,892$257,421$1,450,852
74$2,707,046$504,791$193,999$1,507,227
75$2,908,850$455,211$126,183$1,568,843
76$3,128,897$400,861$53,755$1,636,315
77$3,368,974$341,433$0$1,710,329
78$3,631,049$276,602$0$1,797,924
79$3,917,285$206,025$0$1,909,380
80$4,230,068$129,340$0$2,031,349
81$4,572,021$46,164$0$2,164,945
82$4,946,034$0$0$2,311,403
83$5,355,287$0$0$2,487,545
84$5,803,284$0$0$2,698,255
85$6,293,882$0$0$2,929,101
86$6,831,329$0$0$3,182,097
87$7,420,303$0$0$3,459,455
88$8,065,955$0$0$3,763,617
89$8,773,961$0$0$4,097,270
90$9,550,570$0$0$4,463,372
91$10,402,666$0$0$4,865,185
92$11,337,830$0$0$5,306,299
93$12,364,415$0$0$5,790,670
94$13,491,620$0$0$6,322,655
95$14,729,581$0$0$6,907,055
96$16,089,461$0$0$7,549,157
97$17,583,558$0$0$8,254,788
98$19,225,422$0$0$9,030,365
99$21,029,979$0$0$9,882,959
100$23,013,673$0$0$10,820,359