Can I retire at age 56 with 809,000?

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 $809,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$66,806$66,211$65,631$65,064$64,511$63,944
2 years$33,073$32,457$31,860$31,281$30,719$30,148
3 years$21,829$21,211$20,615$20,042$19,490$18,931
4 years$16,209$15,592$15,003$14,439$13,900$13,360
5 years$12,837$12,224$11,643$11,091$10,567$10,045
6 years$10,591$9,982$9,409$8,869$8,361$7,860
7 years$8,986$8,383$7,819$7,292$6,800$6,318
8 years$7,784$7,186$6,631$6,117$5,641$5,180
9 years$6,849$6,257$5,711$5,210$4,751$4,309
10 years$6,101$5,515$4,979$4,491$4,048$3,626
11 years$5,490$4,910$4,384$3,909$3,481$3,079
12 years$4,981$4,407$3,890$3,429$3,017$2,634
13 years$4,551$3,982$3,476$3,027$2,631$2,266
14 years$4,182$3,620$3,123$2,687$2,306$1,959
15 years$3,863$3,307$2,820$2,396$2,030$1,701
16 years$3,584$3,034$2,556$2,146$1,794$1,483
17 years$3,338$2,794$2,326$1,928$1,591$1,296
18 years$3,120$2,582$2,124$1,737$1,415$1,135
19 years$2,925$2,393$1,944$1,570$1,261$997
20 years$2,750$2,223$1,784$1,422$1,126$877
21 years$2,591$2,071$1,641$1,290$1,008$773
22 years$2,447$1,933$1,512$1,173$903$682
23 years$2,316$1,808$1,397$1,068$811$603
24 years$2,196$1,694$1,292$975$729$533
25 years$2,086$1,590$1,196$890$656$472
26 years$1,984$1,494$1,109$814$591$419
27 years$1,890$1,406$1,030$745$533$371
28 years$1,803$1,325$958$682$481$329
29 years$1,722$1,250$891$626$434$293
30 years$1,647$1,181$830$574$392$260
31 years$1,576$1,116$774$527$355$231
32 years$1,511$1,056$722$485$321$205
33 years$1,449$1,000$674$446$290$183
34 years$1,391$948$630$410$263$163
35 years$1,336$899$589$378$238$145
36 years$1,285$853$551$348$216$129
37 years$1,236$810$516$320$195$115
38 years$1,191$770$483$295$177$102
39 years$1,147$732$452$272$161$91
40 years$1,106$697$424$251$146$81
41 years$1,067$663$398$232$132$72
42 years$1,030$632$373$214$120$64
43 years$995$602$350$197$109$57
44 years$961$574$329$182$99$51
45 years$929$547$308$168$90$46
46 years$899$522$290$155$81$41
47 years$870$498$272$144$74$36
48 years$842$475$256$133$67$32
49 years$815$454$240$123$61$29
50 years$790$434$226$113$55$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $809,000, adding $6,316 every year, while hoping to spend $41,073 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: 63/32/5 Blend
55$809,000$809,000$809,000$809,000
56$898,033$855,156$842,616$953,538
57$945,931$853,357$827,143$989,486
58$997,338$850,094$809,774$1,023,295
59$1,052,569$845,250$790,404$1,059,129
60$1,111,968$838,705$768,920$1,097,180
61$1,175,915$830,328$745,205$1,137,662
62$1,244,827$819,983$719,137$1,180,812
63$1,319,160$807,522$690,589$1,226,891
64$1,399,417$792,794$659,427$1,276,191
65$1,486,149$775,633$625,510$1,329,033
66$1,579,964$755,867$588,692$1,385,771
67$1,681,529$733,312$548,821$1,446,800
68$1,791,576$707,775$505,738$1,512,556
69$1,910,911$679,051$459,275$1,583,521
70$2,040,422$646,922$409,258$1,660,228
71$2,181,082$611,158$355,505$1,743,268
72$2,333,964$571,517$297,827$1,833,295
73$2,500,249$527,742$236,024$1,931,030
74$2,681,233$479,560$169,890$2,037,274
75$2,878,346$426,685$99,208$2,152,910
76$3,093,158$368,814$23,753$2,278,917
77$3,327,400$305,625$0$2,416,375
78$3,582,975$236,781$0$2,569,508
79$3,861,977$161,923$0$2,738,159
80$4,166,715$80,673$0$2,922,534
81$4,499,727$0$0$3,124,261
82$4,863,808$0$0$3,347,735
83$5,262,036$0$0$3,623,295
84$5,697,800$0$0$3,924,886
85$6,174,832$0$0$4,255,098
86$6,697,240$0$0$4,616,782
87$7,269,551$0$0$5,013,080
88$7,896,746$0$0$5,447,449
89$8,584,315$0$0$5,923,700
90$9,338,302$0$0$6,446,028
91$10,165,366$0$0$7,019,054
92$11,072,838$0$0$7,647,867
93$12,068,796$0$0$8,338,075
94$13,162,138$0$0$9,095,853
95$14,362,664$0$0$9,928,004
96$15,681,170$0$0$10,842,022
97$17,129,549$0$0$11,846,164
98$18,720,904$0$0$12,949,522
99$20,469,667$0$0$14,162,117
100$22,391,739$0$0$15,494,987