Can I retire at age 56 with 806,000?

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 $806,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$66,559$65,966$65,387$64,823$64,272$62,490
2 years$32,950$32,336$31,741$31,165$30,606$28,824
3 years$21,748$21,132$20,539$19,968$19,417$17,691
4 years$16,149$15,534$14,947$14,386$13,849$12,192
5 years$12,790$12,179$11,599$11,049$10,528$8,944
6 years$10,551$9,945$9,374$8,836$8,330$6,822
7 years$8,953$8,352$7,790$7,265$6,775$5,341
8 years$7,755$7,159$6,606$6,094$5,620$4,261
9 years$6,823$6,233$5,690$5,191$4,733$3,447
10 years$6,079$5,494$4,961$4,475$4,033$2,818
11 years$5,470$4,891$4,367$3,894$3,468$2,323
12 years$4,963$4,390$3,876$3,416$3,006$1,928
13 years$4,534$3,967$3,463$3,016$2,621$1,608
14 years$4,167$3,606$3,111$2,677$2,297$1,347
15 years$3,849$3,294$2,809$2,387$2,023$1,132
16 years$3,571$3,023$2,547$2,138$1,788$955
17 years$3,326$2,784$2,318$1,921$1,585$807
18 years$3,108$2,572$2,116$1,731$1,409$683
19 years$2,914$2,384$1,937$1,564$1,256$579
20 years$2,739$2,215$1,778$1,417$1,122$492
21 years$2,581$2,063$1,635$1,286$1,004$419
22 years$2,438$1,926$1,507$1,169$900$356
23 years$2,307$1,801$1,391$1,065$808$304
24 years$2,188$1,688$1,287$971$726$259
25 years$2,078$1,584$1,192$887$654$221
26 years$1,977$1,489$1,105$811$589$189
27 years$1,883$1,401$1,026$742$531$161
28 years$1,796$1,320$954$680$479$138
29 years$1,716$1,245$888$624$432$118
30 years$1,641$1,176$827$572$391$100
31 years$1,571$1,112$771$526$353$86
32 years$1,505$1,052$719$483$320$73
33 years$1,443$996$672$444$289$63
34 years$1,386$944$628$409$262$54
35 years$1,331$896$587$376$237$46
36 years$1,280$850$549$346$215$39
37 years$1,232$807$514$319$195$34
38 years$1,186$767$481$294$177$29
39 years$1,143$730$451$271$160$25
40 years$1,102$694$423$250$145$21
41 years$1,063$661$396$231$132$18
42 years$1,026$629$372$213$120$15
43 years$991$600$349$197$108$13
44 years$958$572$327$182$98$11
45 years$926$545$307$168$89$10
46 years$895$520$289$155$81$8
47 years$866$496$271$143$74$7
48 years$839$474$255$132$67$6
49 years$812$452$240$122$61$5
50 years$787$432$225$113$55$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $806,000, adding $2,152 every year, while hoping to spend $45,829 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: 63/7/30 Blend
55$806,000$806,000$806,000$806,000
56$890,432$847,714$835,221$939,226
57$932,494$840,490$814,439$965,418
58$977,311$831,376$791,425$988,847
59$1,025,114$820,232$766,056$1,013,474
60$1,076,160$806,907$738,202$1,039,426
61$1,130,726$791,243$707,730$1,066,842
62$1,189,119$773,073$674,498$1,095,879
63$1,251,675$752,219$638,359$1,126,712
64$1,318,761$728,493$599,159$1,159,535
65$1,390,781$701,696$556,738$1,194,564
66$1,468,179$671,617$510,927$1,232,039
67$1,551,441$638,034$461,550$1,272,227
68$1,641,101$600,711$408,426$1,315,425
69$1,737,746$559,399$351,361$1,361,964
70$1,842,020$513,833$290,155$1,412,208
71$1,954,632$463,737$224,601$1,466,564
72$2,076,359$408,814$154,480$1,525,485
73$2,208,056$348,754$79,563$1,589,469
74$2,350,663$283,229$0$1,659,072
75$2,505,214$211,890$0$1,735,032
76$2,672,845$134,372$0$1,845,096
77$2,854,805$50,286$0$1,964,606
78$3,052,469$0$0$2,094,486
79$3,267,349$0$0$2,238,894
80$3,501,107$0$0$2,400,254
81$3,755,574$0$0$2,575,962
82$4,032,764$0$0$2,767,415
83$4,334,892$0$0$2,976,151
84$4,664,396$0$0$3,203,861
85$5,023,962$0$0$3,452,408
86$5,416,542$0$0$3,723,842
87$5,845,391$0$0$4,020,420
88$6,314,087$0$0$4,344,626
89$6,826,573$0$0$4,699,196
90$7,387,188$0$0$5,087,142
91$8,000,712$0$0$5,511,780
92$8,672,406$0$0$5,976,763
93$9,408,066$0$0$6,486,111
94$10,214,071$0$0$7,044,254
95$11,097,450$0$0$7,656,069
96$12,065,942$0$0$8,326,928
97$13,128,072$0$0$9,062,748
98$14,293,228$0$0$9,870,046
99$15,571,752$0$0$10,755,999
100$16,975,035$0$0$11,728,515