Can I retire at age 56 with 805,000?

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 $805,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$66,476$65,884$65,306$64,742$64,192$63,128
2 years$32,909$32,296$31,702$31,126$30,568$29,499
3 years$21,721$21,106$20,513$19,943$19,393$18,353
4 years$16,129$15,515$14,928$14,368$13,831$12,828
5 years$12,774$12,164$11,585$11,036$10,514$9,550
6 years$10,538$9,933$9,362$8,825$8,320$7,396
7 years$8,942$8,342$7,780$7,256$6,766$5,883
8 years$7,745$7,150$6,598$6,087$5,613$4,771
9 years$6,815$6,226$5,683$5,185$4,727$3,925
10 years$6,071$5,488$4,955$4,469$4,028$3,265
11 years$5,463$4,885$4,362$3,889$3,464$2,739
12 years$4,956$4,385$3,871$3,412$3,002$2,315
13 years$4,528$3,963$3,459$3,012$2,618$1,967
14 years$4,162$3,602$3,108$2,674$2,295$1,680
15 years$3,844$3,290$2,806$2,384$2,020$1,440
16 years$3,566$3,019$2,544$2,135$1,786$1,238
17 years$3,322$2,780$2,315$1,918$1,583$1,068
18 years$3,105$2,569$2,113$1,729$1,408$923
19 years$2,910$2,381$1,934$1,562$1,255$799
20 years$2,736$2,213$1,775$1,415$1,121$694
21 years$2,578$2,061$1,633$1,284$1,003$603
22 years$2,435$1,924$1,505$1,167$899$524
23 years$2,305$1,799$1,390$1,063$807$456
24 years$2,185$1,686$1,285$970$725$398
25 years$2,075$1,582$1,190$886$653$347
26 years$1,974$1,487$1,104$810$588$303
27 years$1,881$1,399$1,025$741$530$265
28 years$1,794$1,319$953$679$478$231
29 years$1,714$1,244$887$623$432$202
30 years$1,639$1,175$826$572$390$177
31 years$1,569$1,110$770$525$353$155
32 years$1,503$1,051$719$482$319$136
33 years$1,442$995$671$444$289$119
34 years$1,384$943$627$408$261$104
35 years$1,330$895$586$376$237$91
36 years$1,279$849$548$346$215$80
37 years$1,230$806$513$319$194$70
38 years$1,185$766$481$294$176$61
39 years$1,141$729$450$271$160$54
40 years$1,101$693$422$250$145$47
41 years$1,062$660$396$231$132$41
42 years$1,025$629$371$213$119$36
43 years$990$599$348$196$108$32
44 years$956$571$327$181$98$28
45 years$925$544$307$168$89$24
46 years$894$519$288$155$81$21
47 years$865$496$271$143$74$19
48 years$838$473$255$132$67$16
49 years$811$452$239$122$61$14
50 years$786$432$225$113$55$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $805,000, adding $4,896 every year, while hoping to spend $38,059 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: 86/5/9 Blend
55$805,000$805,000$805,000$805,000
56$892,160$849,495$837,018$967,459
57$942,666$850,626$824,563$1,018,469
58$997,048$850,537$810,416$1,068,806
59$1,055,661$849,127$794,479$1,122,921
60$1,118,895$846,291$776,651$1,181,169
61$1,187,180$841,917$756,826$1,243,941
62$1,260,985$835,884$734,893$1,311,665
63$1,340,829$828,065$710,735$1,384,817
64$1,427,281$818,327$684,232$1,463,916
65$1,520,965$806,528$655,256$1,549,536
66$1,622,571$792,515$623,674$1,642,310
67$1,732,854$776,129$589,348$1,742,933
68$1,852,647$757,201$552,133$1,852,170
69$1,982,865$735,551$511,877$1,970,867
70$2,124,514$710,990$468,422$2,099,953
71$2,278,702$683,316$421,601$2,240,452
72$2,446,648$652,317$371,244$2,393,491
73$2,629,694$617,768$317,168$2,560,314
74$2,829,315$579,431$259,185$2,742,291
75$3,047,136$537,055$197,099$2,940,928
76$3,284,946$490,372$130,704$3,157,888
77$3,544,713$439,103$59,785$3,395,004
78$3,828,604$382,950$0$3,654,291
79$4,139,006$321,598$0$3,939,500
80$4,478,545$254,717$0$4,257,780
81$4,850,113$181,956$0$4,606,108
82$5,256,897$102,943$0$4,987,481
83$5,702,403$17,290$0$5,405,204
84$6,190,494$0$0$5,862,915
85$6,725,422$0$0$6,368,772
86$7,311,874$0$0$6,924,405
87$7,955,008$0$0$7,533,752
88$8,660,508$0$0$8,202,199
89$9,434,632$0$0$8,935,678
90$10,284,276$0$0$9,740,723
91$11,217,034$0$0$10,624,530
92$12,241,271$0$0$11,595,029
93$13,366,204$0$0$12,660,953
94$14,601,984$0$0$13,831,923
95$15,959,795$0$0$15,118,538
96$17,451,958$0$0$16,532,474
97$19,092,046$0$0$18,086,594
98$20,895,013$0$0$19,795,071
99$22,877,332$0$0$21,673,517
100$25,057,156$0$0$23,739,134