Can I retire at age 56 with 807,000?

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 $807,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$66,641$66,048$65,469$64,903$64,351$64,053
2 years$32,991$32,376$31,781$31,203$30,643$30,343
3 years$21,775$21,158$20,564$19,992$19,441$19,147
4 years$16,169$15,554$14,966$14,403$13,866$13,580
5 years$12,806$12,194$11,614$11,063$10,541$10,265
6 years$10,564$9,957$9,386$8,847$8,340$8,074
7 years$8,964$8,362$7,800$7,274$6,783$6,527
8 years$7,764$7,168$6,615$6,102$5,627$5,381
9 years$6,832$6,241$5,697$5,197$4,739$4,503
10 years$6,086$5,501$4,967$4,480$4,038$3,812
11 years$5,476$4,897$4,373$3,899$3,473$3,257
12 years$4,969$4,396$3,881$3,420$3,009$2,803
13 years$4,539$3,972$3,467$3,019$2,624$2,427
14 years$4,172$3,611$3,115$2,680$2,300$2,113
15 years$3,854$3,298$2,813$2,390$2,025$1,847
16 years$3,575$3,026$2,550$2,140$1,790$1,620
17 years$3,330$2,787$2,321$1,923$1,587$1,426
18 years$3,112$2,575$2,118$1,733$1,411$1,258
19 years$2,918$2,387$1,939$1,566$1,258$1,113
20 years$2,743$2,218$1,780$1,418$1,124$986
21 years$2,585$2,066$1,637$1,287$1,005$876
22 years$2,441$1,929$1,509$1,170$901$779
23 years$2,310$1,804$1,393$1,066$809$693
24 years$2,191$1,690$1,288$972$727$618
25 years$2,081$1,586$1,193$888$654$551
26 years$1,979$1,491$1,107$812$589$492
27 years$1,885$1,403$1,028$743$531$440
28 years$1,799$1,322$955$681$479$394
29 years$1,718$1,247$889$624$433$353
30 years$1,643$1,178$828$573$391$316
31 years$1,572$1,113$772$526$354$283
32 years$1,507$1,053$720$484$320$254
33 years$1,445$998$673$445$290$227
34 years$1,387$945$628$409$262$204
35 years$1,333$897$588$377$237$183
36 years$1,282$851$550$347$215$164
37 years$1,233$808$514$320$195$148
38 years$1,188$768$482$295$177$133
39 years$1,144$731$451$272$160$119
40 years$1,103$695$423$251$145$107
41 years$1,064$662$397$231$132$96
42 years$1,027$630$372$213$120$87
43 years$992$600$349$197$109$78
44 years$959$572$328$182$99$70
45 years$927$546$308$168$90$63
46 years$897$521$289$155$81$57
47 years$868$497$272$143$74$51
48 years$840$474$255$132$67$46
49 years$813$453$240$122$61$41
50 years$788$433$225$113$55$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $807,000, adding $5,837 every year, while hoping to spend $43,436 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: 73/15/12 Blend
55$807,000$807,000$807,000$807,000
56$895,335$852,564$840,055$958,079
57$940,443$848,124$821,982$995,910
58$988,697$842,011$801,847$1,031,394
59$1,040,371$834,096$779,536$1,069,081
60$1,095,767$824,245$754,928$1,109,176
61$1,155,216$812,313$727,898$1,151,907
62$1,219,080$798,149$698,315$1,197,527
63$1,287,759$781,590$666,041$1,246,314
64$1,361,689$762,467$630,932$1,298,575
65$1,441,351$740,598$592,838$1,354,650
66$1,527,273$715,791$551,603$1,414,913
67$1,620,034$687,845$507,061$1,479,780
68$1,720,273$656,544$459,042$1,549,707
69$1,828,687$621,661$407,367$1,625,201
70$1,946,048$582,957$351,848$1,706,819
71$2,073,201$540,178$292,291$1,795,178
72$2,211,076$493,056$228,492$1,890,958
73$2,360,696$441,306$160,237$1,994,913
74$2,523,187$384,629$87,304$2,107,872
75$2,699,785$322,709$9,461$2,230,753
76$2,891,851$255,210$0$2,364,567
77$3,100,885$181,780$0$2,519,859
78$3,328,532$102,045$0$2,690,343
79$3,576,608$15,610$0$2,876,202
80$3,847,107$0$0$3,078,978
81$4,142,226$0$0$3,313,232
82$4,464,382$0$0$3,571,795
83$4,816,238$0$0$3,854,230
84$5,200,722$0$0$4,162,895
85$5,621,061$0$0$4,500,383
86$6,080,804$0$0$4,869,549
87$6,583,863$0$0$5,273,540
88$7,134,543$0$0$5,715,818
89$7,737,584$0$0$6,200,196
90$8,398,208$0$0$6,730,874
91$9,122,165$0$0$7,312,476
92$9,915,786$0$0$7,950,096
93$10,786,046$0$0$8,649,342
94$11,740,627$0$0$9,416,395
95$12,787,988$0$0$10,258,058
96$13,937,450$0$0$11,181,829
97$15,199,277$0$0$12,195,964
98$16,584,777$0$0$13,309,559
99$18,106,405$0$0$14,532,633
100$19,777,885$0$0$15,876,224