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%12%
1 years$66,063$65,475$64,901$64,340$63,793$63,259
2 years$32,705$32,095$31,505$30,933$30,378$29,839
3 years$21,586$20,975$20,386$19,819$19,273$18,747
4 years$16,029$15,419$14,836$14,278$13,746$13,236
5 years$12,695$12,088$11,513$10,967$10,449$9,958
6 years$10,473$9,871$9,304$8,771$8,268$7,795
7 years$8,886$8,290$7,732$7,211$6,724$6,270
8 years$7,697$7,106$6,557$6,049$5,578$5,143
9 years$6,773$6,187$5,648$5,152$4,698$4,281
10 years$6,033$5,453$4,924$4,441$4,003$3,605
11 years$5,429$4,855$4,335$3,865$3,442$3,063
12 years$4,926$4,357$3,847$3,390$2,983$2,621
13 years$4,500$3,938$3,437$2,993$2,601$2,257
14 years$4,136$3,579$3,088$2,657$2,280$1,953
15 years$3,820$3,270$2,788$2,370$2,008$1,697
16 years$3,544$3,000$2,528$2,122$1,775$1,480
17 years$3,301$2,763$2,300$1,906$1,573$1,294
18 years$3,085$2,553$2,100$1,718$1,399$1,135
19 years$2,892$2,366$1,922$1,552$1,247$997
20 years$2,719$2,199$1,764$1,406$1,114$878
21 years$2,562$2,048$1,623$1,276$997$774
22 years$2,420$1,912$1,496$1,160$893$684
23 years$2,290$1,788$1,381$1,057$802$605
24 years$2,172$1,675$1,277$964$721$535
25 years$2,063$1,572$1,183$880$649$474
26 years$1,962$1,478$1,097$805$584$421
27 years$1,869$1,391$1,019$737$527$373
28 years$1,783$1,310$947$675$475$332
29 years$1,703$1,236$881$619$429$295
30 years$1,628$1,167$821$568$388$262
31 years$1,559$1,104$765$522$351$233
32 years$1,494$1,044$714$479$317$208
33 years$1,433$989$667$441$287$185
34 years$1,375$937$623$406$260$165
35 years$1,321$889$582$373$235$147
36 years$1,271$844$545$344$213$131
37 years$1,223$801$510$317$193$116
38 years$1,177$762$478$292$175$104
39 years$1,134$724$447$269$159$92
40 years$1,094$689$419$248$144$82
41 years$1,055$656$393$229$131$74
42 years$1,019$625$369$211$119$66
43 years$984$595$346$195$108$59
44 years$951$567$325$180$98$52
45 years$919$541$305$166$89$47
46 years$889$516$287$154$81$42
47 years$860$492$269$142$73$37
48 years$833$470$253$131$66$33
49 years$806$449$238$121$60$30
50 years$781$429$224$112$55$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $800,000, adding $5,308 every year, while hoping to spend $33,949 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: 34/50/16 Blend
55$800,000$800,000$800,000$800,000
56$887,075$844,675$832,275$912,673
57$941,435$849,943$824,035$937,126
58$1,000,203$854,331$814,381$959,923
59$1,063,790$857,760$803,230$983,779
60$1,132,653$860,147$790,494$1,008,804
61$1,207,291$861,401$776,083$1,035,125
62$1,288,255$861,430$759,902$1,062,883
63$1,376,147$860,130$741,849$1,092,234
64$1,471,635$857,397$721,821$1,123,354
65$1,575,448$853,116$699,709$1,156,440
66$1,688,392$847,167$675,398$1,191,712
67$1,811,352$839,423$648,768$1,229,414
68$1,945,303$829,747$619,694$1,269,820
69$2,091,316$817,997$588,046$1,313,235
70$2,250,571$804,020$553,687$1,359,999
71$2,424,368$787,655$516,474$1,410,490
72$2,614,136$768,732$476,257$1,465,131
73$2,821,448$747,070$432,882$1,524,389
74$3,048,037$722,478$386,185$1,588,787
75$3,295,810$694,753$335,996$1,658,906
76$3,566,868$663,681$282,137$1,735,391
77$3,863,522$629,035$224,422$1,818,959
78$4,188,319$590,576$162,658$1,910,405
79$4,544,064$548,050$96,643$2,010,615
80$4,933,843$501,189$26,166$2,120,570
81$5,361,058$449,710$0$2,241,360
82$5,829,453$393,313$0$2,382,565
83$6,343,154$331,683$0$2,542,464
84$6,906,704$264,483$0$2,718,112
85$7,525,108$191,363$0$2,911,198
86$8,203,877$111,948$0$3,123,593
87$8,949,083$25,844$0$3,357,364
88$9,767,416$0$0$3,614,799
89$10,666,243$0$0$3,935,490
90$11,653,680$0$0$4,303,544
91$12,738,669$0$0$4,708,088
92$13,931,062$0$0$5,152,811
93$15,241,709$0$0$5,641,778
94$16,682,567$0$0$6,179,465
95$18,266,809$0$0$6,770,807
96$20,008,945$0$0$7,421,239
97$21,924,966$0$0$8,136,749
98$24,032,486$0$0$8,923,934
99$26,350,915$0$0$9,790,066
100$28,901,639$0$0$10,743,153