Can I retire at age 56 with 800,000?

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 $800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$66,063$65,475$64,901$64,340$63,793$61,950
2 years$32,705$32,095$31,505$30,933$30,378$28,535
3 years$21,586$20,975$20,386$19,819$19,273$17,489
4 years$16,029$15,419$14,836$14,278$13,746$12,034
5 years$12,695$12,088$11,513$10,967$10,449$8,814
6 years$10,473$9,871$9,304$8,771$8,268$6,712
7 years$8,886$8,290$7,732$7,211$6,724$5,246
8 years$7,697$7,106$6,557$6,049$5,578$4,178
9 years$6,773$6,187$5,648$5,152$4,698$3,374
10 years$6,033$5,453$4,924$4,441$4,003$2,753
11 years$5,429$4,855$4,335$3,865$3,442$2,265
12 years$4,926$4,357$3,847$3,390$2,983$1,876
13 years$4,500$3,938$3,437$2,993$2,601$1,561
14 years$4,136$3,579$3,088$2,657$2,280$1,305
15 years$3,820$3,270$2,788$2,370$2,008$1,095
16 years$3,544$3,000$2,528$2,122$1,775$921
17 years$3,301$2,763$2,300$1,906$1,573$777
18 years$3,085$2,553$2,100$1,718$1,399$656
19 years$2,892$2,366$1,922$1,552$1,247$555
20 years$2,719$2,199$1,764$1,406$1,114$471
21 years$2,562$2,048$1,623$1,276$997$399
22 years$2,420$1,912$1,496$1,160$893$339
23 years$2,290$1,788$1,381$1,057$802$288
24 years$2,172$1,675$1,277$964$721$245
25 years$2,063$1,572$1,183$880$649$209
26 years$1,962$1,478$1,097$805$584$178
27 years$1,869$1,391$1,019$737$527$151
28 years$1,783$1,310$947$675$475$129
29 years$1,703$1,236$881$619$429$110
30 years$1,628$1,167$821$568$388$94
31 years$1,559$1,104$765$522$351$80
32 years$1,494$1,044$714$479$317$68
33 years$1,433$989$667$441$287$58
34 years$1,375$937$623$406$260$50
35 years$1,321$889$582$373$235$42
36 years$1,271$844$545$344$213$36
37 years$1,223$801$510$317$193$31
38 years$1,177$762$478$292$175$26
39 years$1,134$724$447$269$159$23
40 years$1,094$689$419$248$144$19
41 years$1,055$656$393$229$131$16
42 years$1,019$625$369$211$119$14
43 years$984$595$346$195$108$12
44 years$951$567$325$180$98$10
45 years$919$541$305$166$89$9
46 years$889$516$287$154$81$7
47 years$860$492$269$142$73$6
48 years$833$470$253$131$66$5
49 years$806$449$238$121$60$5
50 years$781$429$224$112$55$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $800,000, adding $2,341 every year, while hoping to spend $33,814 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: 47/46/7 Blend
55$800,000$800,000$800,000$800,000
56$884,015$841,615$829,215$923,793
57$938,206$846,876$821,016$956,603
58$996,792$851,262$811,408$988,450
59$1,060,185$854,694$800,311$1,022,222
60$1,128,838$857,088$787,635$1,058,106
61$1,203,250$858,355$773,291$1,096,312
62$1,283,968$858,402$757,183$1,137,070
63$1,371,597$857,127$739,213$1,180,637
64$1,466,799$854,425$719,275$1,227,299
65$1,570,303$850,183$697,262$1,277,371
66$1,682,912$844,280$673,058$1,331,202
67$1,805,509$836,590$646,546$1,389,180
68$1,939,065$826,977$617,600$1,451,735
69$2,084,651$815,300$586,090$1,519,341
70$2,243,441$801,406$551,880$1,592,525
71$2,416,732$785,135$514,828$1,671,871
72$2,605,950$766,317$474,786$1,758,025
73$2,812,663$744,773$431,597$1,851,701
74$3,038,599$720,311$385,100$1,953,690
75$3,285,661$692,731$335,126$2,064,869
76$3,555,942$661,819$281,496$2,186,207
77$3,851,749$627,349$224,027$2,318,775
78$4,175,621$589,082$162,526$2,463,760
79$4,530,355$546,767$96,791$2,622,475
80$4,919,029$500,137$26,611$2,796,370
81$5,345,034$448,909$0$2,987,050
82$5,812,107$392,784$0$3,199,895
83$6,324,361$331,449$0$3,435,616
84$6,886,326$264,571$0$3,694,409
85$7,502,993$191,797$0$3,978,691
86$8,179,860$112,756$0$4,291,128
87$8,922,981$27,056$0$4,634,668
88$9,739,026$0$0$5,012,566
89$10,635,345$0$0$5,461,681
90$11,620,030$0$0$5,970,215
91$12,702,000$0$0$6,529,090
92$13,891,077$0$0$7,143,392
93$15,198,085$0$0$7,818,726
94$16,634,946$0$0$8,561,266
95$18,214,797$0$0$9,377,812
96$19,952,110$0$0$10,275,861
97$21,862,829$0$0$11,263,668
98$23,964,524$0$0$12,350,331
99$26,276,550$0$0$13,545,873
100$28,820,233$0$0$14,861,338