Can I retire at age 56 with 806,000?

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 $806,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$66,559$65,966$65,387$64,823$64,272$63,840
2 years$32,950$32,336$31,741$31,165$30,606$30,170
3 years$21,748$21,132$20,539$19,968$19,417$18,992
4 years$16,149$15,534$14,947$14,386$13,849$13,436
5 years$12,790$12,179$11,599$11,049$10,528$10,129
6 years$10,551$9,945$9,374$8,836$8,330$7,947
7 years$8,953$8,352$7,790$7,265$6,775$6,406
8 years$7,755$7,159$6,606$6,094$5,620$5,267
9 years$6,823$6,233$5,690$5,191$4,733$4,394
10 years$6,079$5,494$4,961$4,475$4,033$3,709
11 years$5,470$4,891$4,367$3,894$3,468$3,159
12 years$4,963$4,390$3,876$3,416$3,006$2,710
13 years$4,534$3,967$3,463$3,016$2,621$2,340
14 years$4,167$3,606$3,111$2,677$2,297$2,030
15 years$3,849$3,294$2,809$2,387$2,023$1,768
16 years$3,571$3,023$2,547$2,138$1,788$1,546
17 years$3,326$2,784$2,318$1,921$1,585$1,356
18 years$3,108$2,572$2,116$1,731$1,409$1,192
19 years$2,914$2,384$1,937$1,564$1,256$1,051
20 years$2,739$2,215$1,778$1,417$1,122$928
21 years$2,581$2,063$1,635$1,286$1,004$821
22 years$2,438$1,926$1,507$1,169$900$727
23 years$2,307$1,801$1,391$1,065$808$645
24 years$2,188$1,688$1,287$971$726$573
25 years$2,078$1,584$1,192$887$654$509
26 years$1,977$1,489$1,105$811$589$453
27 years$1,883$1,401$1,026$742$531$403
28 years$1,796$1,320$954$680$479$359
29 years$1,716$1,245$888$624$432$320
30 years$1,641$1,176$827$572$391$286
31 years$1,571$1,112$771$526$353$255
32 years$1,505$1,052$719$483$320$228
33 years$1,443$996$672$444$289$203
34 years$1,386$944$628$409$262$182
35 years$1,331$896$587$376$237$162
36 years$1,280$850$549$346$215$145
37 years$1,232$807$514$319$195$130
38 years$1,186$767$481$294$177$116
39 years$1,143$730$451$271$160$104
40 years$1,102$694$423$250$145$93
41 years$1,063$661$396$231$132$83
42 years$1,026$629$372$213$120$74
43 years$991$600$349$197$108$67
44 years$958$572$327$182$98$60
45 years$926$545$307$168$89$53
46 years$895$520$289$155$81$48
47 years$866$496$271$143$74$43
48 years$839$474$255$132$67$38
49 years$812$452$240$122$61$34
50 years$787$432$225$113$55$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $806,000, adding $5,916 every year, while hoping to spend $51,522 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: 35/50/15 Blend
55$806,000$806,000$806,000$806,000
56$894,314$851,596$839,103$921,283
57$930,715$838,506$812,394$928,290
58$969,103$823,047$783,064$930,553
59$1,009,624$805,049$750,969$931,883
60$1,052,441$784,332$715,963$932,225
61$1,097,731$760,705$677,888$931,522
62$1,145,685$733,965$636,583$929,717
63$1,196,514$703,898$591,877$926,753
64$1,250,448$670,279$543,595$922,572
65$1,307,737$632,866$491,549$917,117
66$1,368,657$591,407$435,546$910,331
67$1,433,508$545,634$375,385$902,159
68$1,502,619$495,263$310,853$892,545
69$1,576,351$439,995$241,731$881,438
70$1,655,097$379,514$167,788$868,789
71$1,739,292$313,485$88,784$854,551
72$1,829,409$241,555$4,467$838,684
73$1,925,968$163,350$0$821,153
74$2,029,539$78,477$0$815,614
75$2,140,750$0$0$810,014
76$2,260,286$0$0$811,087
77$2,388,902$0$0$858,782
78$2,527,426$0$0$910,238
79$2,676,767$0$0$965,804
80$2,837,924$0$0$1,025,864
81$3,011,996$0$0$1,090,839
82$3,200,188$0$0$1,161,192
83$3,403,826$0$0$1,237,431
84$3,624,368$0$0$1,320,119
85$3,863,416$0$0$1,409,868
86$4,122,731$0$0$1,507,358
87$4,404,252$0$0$1,613,333
88$4,710,109$0$0$1,728,613
89$5,042,647$0$0$1,854,099
90$5,404,446$0$0$1,990,783
91$5,798,343$0$0$2,139,757
92$6,227,461$0$0$2,302,222
93$6,695,235$0$0$2,479,502
94$7,205,449$0$0$2,673,052
95$7,762,265$0$0$2,884,474
96$8,370,264$0$0$3,115,532
97$9,034,491$0$0$3,368,169
98$9,760,499$0$0$3,644,523
99$10,554,401$0$0$3,946,947
100$11,422,929$0$0$4,278,036