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%13.9%
1 years$66,724$66,130$65,550$64,984$64,431$63,390
2 years$33,032$32,416$31,820$31,242$30,681$29,635
3 years$21,802$21,185$20,590$20,017$19,466$18,447
4 years$16,189$15,573$14,984$14,421$13,883$12,900
5 years$12,822$12,209$11,628$11,077$10,554$9,609
6 years$10,577$9,970$9,397$8,858$8,351$7,445
7 years$8,975$8,373$7,809$7,283$6,791$5,926
8 years$7,774$7,177$6,623$6,109$5,634$4,808
9 years$6,840$6,249$5,704$5,204$4,745$3,958
10 years$6,094$5,508$4,973$4,486$4,043$3,294
11 years$5,483$4,903$4,378$3,904$3,477$2,766
12 years$4,975$4,401$3,886$3,424$3,013$2,339
13 years$4,545$3,977$3,472$3,023$2,627$1,989
14 years$4,177$3,615$3,119$2,684$2,303$1,699
15 years$3,858$3,303$2,816$2,393$2,028$1,458
16 years$3,580$3,030$2,553$2,143$1,792$1,254
17 years$3,334$2,791$2,323$1,925$1,589$1,083
18 years$3,116$2,579$2,121$1,735$1,413$936
19 years$2,921$2,390$1,942$1,568$1,259$812
20 years$2,746$2,221$1,782$1,420$1,125$705
21 years$2,588$2,069$1,639$1,289$1,007$613
22 years$2,444$1,931$1,511$1,172$902$533
23 years$2,313$1,806$1,395$1,067$810$465
24 years$2,193$1,692$1,290$973$728$406
25 years$2,083$1,588$1,195$889$655$354
26 years$1,982$1,492$1,108$813$590$309
27 years$1,888$1,404$1,029$744$532$270
28 years$1,801$1,323$957$682$480$237
29 years$1,720$1,249$890$625$433$207
30 years$1,645$1,179$829$574$392$181
31 years$1,574$1,115$773$527$354$159
32 years$1,509$1,055$721$484$320$139
33 years$1,447$999$673$445$290$122
34 years$1,389$947$629$410$262$107
35 years$1,335$898$588$377$238$94
36 years$1,283$852$550$347$215$82
37 years$1,235$809$515$320$195$72
38 years$1,189$769$482$295$177$63
39 years$1,146$731$452$272$160$55
40 years$1,105$696$424$251$146$49
41 years$1,066$662$397$231$132$43
42 years$1,029$631$373$214$120$37
43 years$994$601$350$197$109$33
44 years$960$573$328$182$99$29
45 years$928$546$308$168$90$25
46 years$898$521$289$155$81$22
47 years$869$497$272$143$74$19
48 years$841$475$255$133$67$17
49 years$814$453$240$123$61$15
50 years$789$433$226$113$55$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $808,000, adding $4,433 every year, while hoping to spend $20,254 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: 72/20/8 Blend
55$808,000$808,000$808,000$808,000
56$894,989$852,165$839,641$957,933
57$964,727$872,371$846,219$1,020,294
58$1,040,901$892,888$852,338$1,085,601
59$1,124,143$913,710$857,962$1,156,543
60$1,215,155$934,831$863,052$1,233,669
61$1,314,704$956,241$867,568$1,317,585
62$1,423,639$977,932$871,467$1,408,957
63$1,542,892$999,893$874,703$1,508,521
64$1,673,492$1,022,112$877,231$1,617,085
65$1,816,570$1,044,577$878,999$1,735,540
66$1,973,371$1,067,273$879,957$1,864,868
67$2,145,269$1,090,183$880,049$2,006,150
68$2,333,775$1,113,290$879,219$2,160,577
69$2,540,553$1,136,575$877,407$2,329,460
70$2,767,438$1,160,016$874,548$2,514,246
71$3,016,449$1,183,589$870,578$2,716,526
72$3,289,812$1,207,270$865,427$2,938,055
73$3,589,976$1,231,030$859,023$3,180,766
74$3,919,643$1,254,839$851,289$3,446,788
75$4,281,785$1,278,665$842,146$3,738,468
76$4,679,679$1,302,471$831,510$4,058,390
77$5,116,935$1,326,221$819,294$4,409,405
78$5,597,529$1,349,872$805,407$4,794,649
79$6,125,841$1,373,381$789,753$5,217,583
80$6,706,699$1,396,698$772,231$5,682,017
81$7,345,418$1,419,772$752,737$6,192,150
82$8,047,858$1,442,548$731,160$6,752,611
83$8,820,472$1,464,966$707,387$7,368,499
84$9,670,373$1,486,962$681,298$8,045,433
85$10,605,396$1,508,467$652,765$8,789,605
86$11,634,173$1,529,409$621,660$9,607,838
87$12,766,216$1,549,708$587,843$10,507,653
88$14,012,007$1,569,280$551,173$11,497,336
89$15,383,093$1,588,037$511,499$12,586,018
90$16,892,199$1,605,880$468,664$13,783,762
91$18,553,344$1,622,710$422,505$15,101,657
92$20,381,977$1,638,415$372,851$16,551,925
93$22,395,122$1,652,879$319,524$18,148,033
94$24,611,533$1,665,980$262,338$19,904,821
95$27,051,880$1,677,583$201,097$21,838,645
96$29,738,937$1,687,550$135,598$23,967,528
97$32,697,798$1,695,729$65,630$26,311,333
98$35,956,115$1,701,962$0$28,891,949
99$39,544,360$1,706,079$0$31,734,269
100$43,496,109$1,707,901$0$34,870,135