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%11.4%
1 years$66,476$65,884$65,306$64,742$64,192$63,814
2 years$32,909$32,296$31,702$31,126$30,568$30,186
3 years$21,721$21,106$20,513$19,943$19,393$19,021
4 years$16,129$15,515$14,928$14,368$13,831$13,470
5 years$12,774$12,164$11,585$11,036$10,514$10,165
6 years$10,538$9,933$9,362$8,825$8,320$7,984
7 years$8,942$8,342$7,780$7,256$6,766$6,443
8 years$7,745$7,150$6,598$6,087$5,613$5,303
9 years$6,815$6,226$5,683$5,185$4,727$4,430
10 years$6,071$5,488$4,955$4,469$4,028$3,743
11 years$5,463$4,885$4,362$3,889$3,464$3,192
12 years$4,956$4,385$3,871$3,412$3,002$2,742
13 years$4,528$3,963$3,459$3,012$2,618$2,370
14 years$4,162$3,602$3,108$2,674$2,295$2,059
15 years$3,844$3,290$2,806$2,384$2,020$1,796
16 years$3,566$3,019$2,544$2,135$1,786$1,573
17 years$3,322$2,780$2,315$1,918$1,583$1,381
18 years$3,105$2,569$2,113$1,729$1,408$1,216
19 years$2,910$2,381$1,934$1,562$1,255$1,073
20 years$2,736$2,213$1,775$1,415$1,121$949
21 years$2,578$2,061$1,633$1,284$1,003$841
22 years$2,435$1,924$1,505$1,167$899$746
23 years$2,305$1,799$1,390$1,063$807$663
24 years$2,185$1,686$1,285$970$725$589
25 years$2,075$1,582$1,190$886$653$525
26 years$1,974$1,487$1,104$810$588$468
27 years$1,881$1,399$1,025$741$530$417
28 years$1,794$1,319$953$679$478$372
29 years$1,714$1,244$887$623$432$332
30 years$1,639$1,175$826$572$390$297
31 years$1,569$1,110$770$525$353$265
32 years$1,503$1,051$719$482$319$237
33 years$1,442$995$671$444$289$212
34 years$1,384$943$627$408$261$190
35 years$1,330$895$586$376$237$170
36 years$1,279$849$548$346$215$152
37 years$1,230$806$513$319$194$137
38 years$1,185$766$481$294$176$122
39 years$1,141$729$450$271$160$110
40 years$1,101$693$422$250$145$98
41 years$1,062$660$396$231$132$88
42 years$1,025$629$371$213$119$79
43 years$990$599$348$196$108$71
44 years$956$571$327$181$98$63
45 years$925$544$307$168$89$57
46 years$894$519$288$155$81$51
47 years$865$496$271$143$74$46
48 years$838$473$255$132$67$41
49 years$811$452$239$122$61$37
50 years$786$432$225$113$55$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $805,000, adding $6,114 every year, while hoping to spend $34,878 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: 37/42/21 Blend
55$805,000$805,000$805,000$805,000
56$893,417$850,752$838,274$920,628
57$947,435$855,328$829,246$945,549
58$1,005,795$858,961$818,747$968,742
59$1,068,901$861,565$806,691$993,083
60$1,137,201$863,053$792,986$1,018,694
61$1,211,184$863,332$777,540$1,045,714
62$1,291,390$862,300$760,253$1,074,297
63$1,378,412$859,853$741,021$1,104,617
64$1,472,902$855,878$719,738$1,136,865
65$1,575,577$850,256$696,289$1,171,259
66$1,687,228$842,860$670,556$1,208,038
67$1,808,721$833,556$642,416$1,247,470
68$1,941,013$822,203$611,739$1,289,855
69$2,085,155$808,649$578,391$1,335,525
70$2,242,303$792,735$542,229$1,384,852
71$2,413,730$774,291$503,106$1,438,247
72$2,600,838$753,140$460,868$1,496,171
73$2,805,171$729,090$415,354$1,559,133
74$3,028,425$701,942$366,395$1,627,701
75$3,272,470$671,483$313,815$1,702,506
76$3,539,365$637,489$257,431$1,784,249
77$3,831,376$599,722$197,051$1,873,708
78$4,150,999$557,931$132,474$1,971,745
79$4,500,981$511,850$63,492$2,079,319
80$4,884,349$461,198$0$2,197,493
81$5,304,434$405,678$0$2,329,715
82$5,764,908$344,978$0$2,490,352
83$6,269,811$278,765$0$2,666,664
84$6,823,597$206,689$0$2,860,312
85$7,431,168$128,381$0$3,073,132
86$8,097,925$43,450$0$3,307,155
87$8,829,818$0$0$3,564,623
88$9,633,401$0$0$3,870,439
89$10,515,891$0$0$4,228,455
90$11,485,242$0$0$4,621,830
91$12,550,214$0$0$5,054,135
92$13,720,457$0$0$5,529,302
93$15,006,604$0$0$6,051,666
94$16,420,367$0$0$6,625,999
95$17,974,652$0$0$7,257,562
96$19,683,675$0$0$7,952,150
97$21,563,100$0$0$8,716,146
98$23,630,185$0$0$9,556,585
99$25,903,944$0$0$10,481,218
100$28,405,325$0$0$11,498,585