Can I retire at age 56 with 805,000?

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 $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%18.7%
1 years$66,476$65,884$65,306$64,742$64,192$61,939
2 years$32,909$32,296$31,702$31,126$30,568$28,321
3 years$21,721$21,106$20,513$19,943$19,393$17,225
4 years$16,129$15,515$14,928$14,368$13,831$11,757
5 years$12,774$12,164$11,585$11,036$10,514$8,539
6 years$10,538$9,933$9,362$8,825$8,320$6,445
7 years$8,942$8,342$7,780$7,256$6,766$4,992
8 years$7,745$7,150$6,598$6,087$5,613$3,938
9 years$6,815$6,226$5,683$5,185$4,727$3,149
10 years$6,071$5,488$4,955$4,469$4,028$2,544
11 years$5,463$4,885$4,362$3,889$3,464$2,072
12 years$4,956$4,385$3,871$3,412$3,002$1,697
13 years$4,528$3,963$3,459$3,012$2,618$1,398
14 years$4,162$3,602$3,108$2,674$2,295$1,156
15 years$3,844$3,290$2,806$2,384$2,020$958
16 years$3,566$3,019$2,544$2,135$1,786$797
17 years$3,322$2,780$2,315$1,918$1,583$664
18 years$3,105$2,569$2,113$1,729$1,408$555
19 years$2,910$2,381$1,934$1,562$1,255$464
20 years$2,736$2,213$1,775$1,415$1,121$388
21 years$2,578$2,061$1,633$1,284$1,003$325
22 years$2,435$1,924$1,505$1,167$899$273
23 years$2,305$1,799$1,390$1,063$807$229
24 years$2,185$1,686$1,285$970$725$192
25 years$2,075$1,582$1,190$886$653$162
26 years$1,974$1,487$1,104$810$588$136
27 years$1,881$1,399$1,025$741$530$114
28 years$1,794$1,319$953$679$478$96
29 years$1,714$1,244$887$623$432$81
30 years$1,639$1,175$826$572$390$68
31 years$1,569$1,110$770$525$353$57
32 years$1,503$1,051$719$482$319$48
33 years$1,442$995$671$444$289$41
34 years$1,384$943$627$408$261$34
35 years$1,330$895$586$376$237$29
36 years$1,279$849$548$346$215$24
37 years$1,230$806$513$319$194$20
38 years$1,185$766$481$294$176$17
39 years$1,141$729$450$271$160$14
40 years$1,101$693$422$250$145$12
41 years$1,062$660$396$231$132$10
42 years$1,025$629$371$213$119$9
43 years$990$599$348$196$108$7
44 years$956$571$327$181$98$6
45 years$925$544$307$168$89$5
46 years$894$519$288$155$81$4
47 years$865$496$271$143$74$4
48 years$838$473$255$132$67$3
49 years$811$452$239$122$61$3
50 years$786$432$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 $805,000, adding $6,167 every year, while hoping to spend $49,231 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: 60/10/30 Blend
55$805,000$805,000$805,000$805,000
56$893,471$850,806$838,329$939,452
57$932,224$840,114$814,031$960,894
58$973,279$827,249$787,270$978,518
59$1,016,820$812,050$757,910$996,740
60$1,063,047$794,352$725,811$1,015,630
61$1,112,178$773,975$690,826$1,035,268
62$1,164,452$750,732$652,801$1,055,746
63$1,220,132$724,423$611,575$1,077,167
64$1,279,503$694,838$566,980$1,099,644
65$1,342,880$661,753$518,842$1,123,309
66$1,410,607$624,932$466,976$1,148,308
67$1,483,061$584,125$411,192$1,174,804
68$1,560,655$539,069$351,289$1,202,981
69$1,643,843$489,485$287,058$1,233,045
70$1,733,122$435,076$218,281$1,265,227
71$1,829,038$375,533$144,732$1,299,785
72$1,932,190$310,524$66,171$1,337,006
73$2,043,237$239,703$0$1,377,212
74$2,162,900$162,701$0$1,426,419
75$2,291,973$79,131$0$1,502,341
76$2,431,328$0$0$1,584,310
77$2,581,923$0$0$1,674,168
78$2,744,810$0$0$1,780,830
79$2,921,147$0$0$1,896,351
80$3,112,206$0$0$2,021,574
81$3,319,386$0$0$2,157,420
82$3,544,225$0$0$2,304,907
83$3,788,414$0$0$2,465,151
84$4,053,815$0$0$2,639,382
85$4,342,476$0$0$2,828,953
86$4,656,647$0$0$3,035,351
87$4,998,808$0$0$3,260,213
88$5,371,685$0$0$3,505,342
89$5,778,281$0$0$3,772,721
90$6,221,898$0$0$4,064,533
91$6,706,172$0$0$4,383,179
92$7,235,105$0$0$4,731,305
93$7,813,105$0$0$5,111,823
94$8,445,020$0$0$5,527,938
95$9,136,193$0$0$5,983,181
96$9,892,504$0$0$6,481,437
97$10,720,428$0$0$7,026,986
98$11,627,095$0$0$7,624,542
99$12,620,357$0$0$8,279,293
100$13,708,862$0$0$8,996,956