Can I retire at age 56 with 808,000?

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 $808,000?

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$66,724$66,130$65,550$64,984$64,431$63,573
2 years$33,032$32,416$31,820$31,242$30,681$29,819
3 years$21,802$21,185$20,590$20,017$19,466$18,624
4 years$16,189$15,573$14,984$14,421$13,883$13,070
5 years$12,822$12,209$11,628$11,077$10,554$9,771
6 years$10,577$9,970$9,397$8,858$8,351$7,600
7 years$8,975$8,373$7,809$7,283$6,791$6,073
8 years$7,774$7,177$6,623$6,109$5,634$4,947
9 years$6,840$6,249$5,704$5,204$4,745$4,089
10 years$6,094$5,508$4,973$4,486$4,043$3,418
11 years$5,483$4,903$4,378$3,904$3,477$2,883
12 years$4,975$4,401$3,886$3,424$3,013$2,448
13 years$4,545$3,977$3,472$3,023$2,627$2,092
14 years$4,177$3,615$3,119$2,684$2,303$1,796
15 years$3,858$3,303$2,816$2,393$2,028$1,548
16 years$3,580$3,030$2,553$2,143$1,792$1,338
17 years$3,334$2,791$2,323$1,925$1,589$1,161
18 years$3,116$2,579$2,121$1,735$1,413$1,009
19 years$2,921$2,390$1,942$1,568$1,259$879
20 years$2,746$2,221$1,782$1,420$1,125$767
21 years$2,588$2,069$1,639$1,289$1,007$671
22 years$2,444$1,931$1,511$1,172$902$587
23 years$2,313$1,806$1,395$1,067$810$514
24 years$2,193$1,692$1,290$973$728$451
25 years$2,083$1,588$1,195$889$655$396
26 years$1,982$1,492$1,108$813$590$348
27 years$1,888$1,404$1,029$744$532$306
28 years$1,801$1,323$957$682$480$269
29 years$1,720$1,249$890$625$433$237
30 years$1,645$1,179$829$574$392$209
31 years$1,574$1,115$773$527$354$184
32 years$1,509$1,055$721$484$320$162
33 years$1,447$999$673$445$290$143
34 years$1,389$947$629$410$262$126
35 years$1,335$898$588$377$238$111
36 years$1,283$852$550$347$215$98
37 years$1,235$809$515$320$195$86
38 years$1,189$769$482$295$177$76
39 years$1,146$731$452$272$160$67
40 years$1,105$696$424$251$146$59
41 years$1,066$662$397$231$132$52
42 years$1,029$631$373$214$120$46
43 years$994$601$350$197$109$41
44 years$960$573$328$182$99$36
45 years$928$546$308$168$90$32
46 years$898$521$289$155$81$28
47 years$869$497$272$143$74$25
48 years$841$475$255$133$67$22
49 years$814$453$240$123$61$19
50 years$789$433$226$113$55$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $808,000, adding $5,682 every year, while hoping to spend $36,338 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: 43/36/21 Blend
55$808,000$808,000$808,000$808,000
56$896,277$853,453$840,929$929,117
57$949,034$856,609$830,437$956,083
58$1,005,954$858,701$818,375$981,311
59$1,067,424$859,640$804,653$1,007,901
60$1,133,868$859,329$789,176$1,035,999
61$1,205,752$857,666$771,843$1,065,764
62$1,283,590$854,543$752,551$1,097,376
63$1,367,946$849,845$731,191$1,131,036
64$1,459,438$843,450$707,648$1,166,966
65$1,558,750$835,228$681,803$1,205,416
66$1,666,630$825,042$653,531$1,246,660
67$1,783,905$812,747$622,702$1,291,008
68$1,911,480$798,189$589,180$1,338,802
69$2,050,355$781,204$552,822$1,390,421
70$2,201,629$761,620$513,479$1,446,291
71$2,366,509$739,254$470,995$1,506,879
72$2,546,328$713,912$425,208$1,572,709
73$2,742,548$685,389$375,947$1,644,360
74$2,956,783$653,468$323,036$1,722,476
75$3,190,806$617,919$266,289$1,807,771
76$3,446,571$578,500$205,513$1,901,037
77$3,726,229$534,954$140,505$2,003,152
78$4,032,147$487,009$71,054$2,115,091
79$4,366,933$434,379$0$2,237,932
80$4,733,457$376,761$0$2,373,559
81$5,134,882$313,834$0$2,539,645
82$5,574,688$245,260$0$2,721,775
83$6,056,710$170,682$0$2,921,629
84$6,585,170$89,721$0$3,141,066
85$7,164,719$1,980$0$3,382,139
86$7,800,480$0$0$3,647,115
87$8,498,096$0$0$3,975,328
88$9,263,779$0$0$4,336,530
89$10,104,377$0$0$4,733,180
90$11,027,431$0$0$5,168,849
91$12,041,247$0$0$5,647,473
92$13,154,976$0$0$6,173,385
93$14,378,699$0$0$6,751,361
94$15,723,522$0$0$7,386,662
95$17,201,681$0$0$8,085,084
96$18,826,654$0$0$8,853,011
97$20,613,292$0$0$9,697,480
98$22,577,956$0$0$10,626,240
99$24,738,672$0$0$11,647,832
100$27,115,301$0$0$12,771,664