Can I retire at age 56 with 806,000?

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 $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%11.8%
1 years$66,559$65,966$65,387$64,823$64,272$63,786
2 years$32,950$32,336$31,741$31,165$30,606$30,116
3 years$21,748$21,132$20,539$19,968$19,417$18,939
4 years$16,149$15,534$14,947$14,386$13,849$13,385
5 years$12,790$12,179$11,599$11,049$10,528$10,081
6 years$10,551$9,945$9,374$8,836$8,330$7,900
7 years$8,953$8,352$7,790$7,265$6,775$6,361
8 years$7,755$7,159$6,606$6,094$5,620$5,224
9 years$6,823$6,233$5,690$5,191$4,733$4,354
10 years$6,079$5,494$4,961$4,475$4,033$3,670
11 years$5,470$4,891$4,367$3,894$3,468$3,122
12 years$4,963$4,390$3,876$3,416$3,006$2,675
13 years$4,534$3,967$3,463$3,016$2,621$2,307
14 years$4,167$3,606$3,111$2,677$2,297$1,998
15 years$3,849$3,294$2,809$2,387$2,023$1,739
16 years$3,571$3,023$2,547$2,138$1,788$1,518
17 years$3,326$2,784$2,318$1,921$1,585$1,330
18 years$3,108$2,572$2,116$1,731$1,409$1,168
19 years$2,914$2,384$1,937$1,564$1,256$1,028
20 years$2,739$2,215$1,778$1,417$1,122$906
21 years$2,581$2,063$1,635$1,286$1,004$800
22 years$2,438$1,926$1,507$1,169$900$708
23 years$2,307$1,801$1,391$1,065$808$627
24 years$2,188$1,688$1,287$971$726$556
25 years$2,078$1,584$1,192$887$654$493
26 years$1,977$1,489$1,105$811$589$438
27 years$1,883$1,401$1,026$742$531$390
28 years$1,796$1,320$954$680$479$347
29 years$1,716$1,245$888$624$432$308
30 years$1,641$1,176$827$572$391$275
31 years$1,571$1,112$771$526$353$245
32 years$1,505$1,052$719$483$320$218
33 years$1,443$996$672$444$289$195
34 years$1,386$944$628$409$262$174
35 years$1,331$896$587$376$237$155
36 years$1,280$850$549$346$215$138
37 years$1,232$807$514$319$195$123
38 years$1,186$767$481$294$177$110
39 years$1,143$730$451$271$160$98
40 years$1,102$694$423$250$145$88
41 years$1,063$661$396$231$132$79
42 years$1,026$629$372$213$120$70
43 years$991$600$349$197$108$63
44 years$958$572$327$182$98$56
45 years$926$545$307$168$89$50
46 years$895$520$289$155$81$45
47 years$866$496$271$143$74$40
48 years$839$474$255$132$67$36
49 years$812$452$240$122$61$32
50 years$787$432$225$113$55$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $806,000, adding $6,515 every year, while hoping to spend $46,290 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: 67/9/24 Blend
55$806,000$806,000$806,000$806,000
56$894,932$852,214$839,721$948,963
57$936,963$844,721$818,600$978,572
58$981,730$835,308$795,219$1,005,062
59$1,029,462$823,834$769,455$1,032,961
60$1,080,413$810,148$741,177$1,062,407
61$1,134,857$794,087$710,249$1,093,555
62$1,193,099$775,484$676,529$1,126,579
63$1,255,470$754,157$639,867$1,161,669
64$1,322,333$729,917$600,108$1,199,038
65$1,394,090$702,561$557,090$1,238,921
66$1,471,176$671,876$510,642$1,281,580
67$1,554,075$637,637$460,588$1,327,305
68$1,643,314$599,604$406,741$1,376,418
69$1,739,473$557,526$348,908$1,429,275
70$1,843,190$511,135$286,886$1,486,271
71$1,955,164$460,149$220,465$1,547,845
72$2,076,164$404,269$149,424$1,614,481
73$2,207,035$343,181$73,533$1,686,717
74$2,348,707$276,552$0$1,765,147
75$2,502,201$204,029$0$1,852,342
76$2,668,641$125,241$0$1,967,339
77$2,849,260$39,796$0$2,092,163
78$3,045,417$0$0$2,227,777
79$3,258,607$0$0$2,380,463
80$3,490,473$0$0$2,550,856
81$3,742,824$0$0$2,736,348
82$4,017,648$0$0$2,938,407
83$4,317,135$0$0$3,158,649
84$4,643,695$0$0$3,398,852
85$4,999,980$0$0$3,660,974
86$5,388,909$0$0$3,947,168
87$5,813,695$0$0$4,259,807
88$6,277,875$0$0$4,601,500
89$6,785,344$0$0$4,975,123
90$7,340,389$0$0$5,383,840
91$7,947,732$0$0$5,831,135
92$8,612,570$0$0$6,320,847
93$9,340,627$0$0$6,857,199
94$10,138,209$0$0$7,444,845
95$11,012,256$0$0$8,088,910
96$11,970,414$0$0$8,795,037
97$13,021,104$0$0$9,569,443
98$14,173,600$0$0$10,418,973
99$15,438,117$0$0$11,351,170
100$16,825,908$0$0$12,374,338