Can I retire at age 56 with 760,000?

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 $760,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$62,760$62,201$61,656$61,123$60,603$60,247
2 years$31,069$30,491$29,930$29,386$28,859$28,499
3 years$20,507$19,926$19,367$18,828$18,309$17,957
4 years$15,227$14,648$14,094$13,565$13,058$12,717
5 years$12,060$11,484$10,937$10,419$9,927$9,597
6 years$9,949$9,378$8,839$8,332$7,855$7,537
7 years$8,442$7,875$7,345$6,850$6,388$6,083
8 years$7,312$6,751$6,229$5,746$5,299$5,007
9 years$6,434$5,878$5,365$4,895$4,463$4,182
10 years$5,732$5,181$4,678$4,219$3,803$3,534
11 years$5,157$4,612$4,118$3,672$3,270$3,014
12 years$4,679$4,140$3,655$3,221$2,834$2,589
13 years$4,275$3,741$3,265$2,844$2,471$2,238
14 years$3,929$3,400$2,934$2,524$2,166$1,944
15 years$3,629$3,106$2,649$2,251$1,907$1,696
16 years$3,367$2,850$2,402$2,016$1,686$1,485
17 years$3,136$2,625$2,185$1,811$1,495$1,304
18 years$2,931$2,425$1,995$1,632$1,329$1,148
19 years$2,748$2,248$1,826$1,475$1,185$1,013
20 years$2,583$2,089$1,676$1,336$1,058$896
21 years$2,434$1,946$1,542$1,212$947$794
22 years$2,299$1,816$1,421$1,102$849$704
23 years$2,176$1,699$1,312$1,004$762$626
24 years$2,063$1,592$1,213$916$685$556
25 years$1,959$1,494$1,124$836$616$495
26 years$1,864$1,404$1,042$764$555$441
27 years$1,776$1,321$968$700$500$394
28 years$1,694$1,245$900$641$452$351
29 years$1,618$1,174$837$588$408$314
30 years$1,547$1,109$780$540$368$280
31 years$1,481$1,048$727$496$333$251
32 years$1,419$992$678$455$301$224
33 years$1,361$939$633$419$273$201
34 years$1,307$890$592$385$247$179
35 years$1,255$845$553$355$224$161
36 years$1,207$802$518$327$203$144
37 years$1,161$761$484$301$184$129
38 years$1,118$724$454$277$166$115
39 years$1,078$688$425$256$151$103
40 years$1,039$655$398$236$137$93
41 years$1,002$623$374$218$124$83
42 years$968$593$350$201$113$75
43 years$934$565$329$185$102$67
44 years$903$539$309$171$93$60
45 years$873$514$290$158$84$54
46 years$844$490$272$146$77$48
47 years$817$468$256$135$70$43
48 years$791$447$240$125$63$39
49 years$766$427$226$115$57$35
50 years$742$407$212$107$52$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $760,000, adding $6,388 every year, while hoping to spend $23,704 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: 73/17/10 Blend
55$760,000$760,000$760,000$760,000
56$844,109$803,829$792,049$903,690
57$904,987$817,996$793,362$958,066
58$971,281$832,062$793,924$1,014,031
59$1,043,517$845,999$793,686$1,074,673
60$1,122,275$859,773$792,594$1,140,448
61$1,208,195$873,349$790,594$1,211,857
62$1,301,980$886,692$787,628$1,289,453
63$1,404,403$899,761$783,634$1,373,846
64$1,516,316$912,513$778,550$1,465,706
65$1,638,657$924,903$772,308$1,565,774
66$1,772,458$936,882$764,839$1,674,864
67$1,918,857$948,397$756,069$1,793,874
68$2,079,106$959,394$745,923$1,923,793
69$2,254,582$969,812$734,319$2,065,712
70$2,446,805$979,588$721,173$2,220,831
71$2,657,445$988,653$706,399$2,390,475
72$2,888,344$996,937$689,903$2,576,102
73$3,141,529$1,004,361$671,589$2,779,320
74$3,419,235$1,010,845$651,357$3,001,900
75$3,723,920$1,016,300$629,101$3,245,796
76$4,058,295$1,020,634$604,711$3,513,159
77$4,425,345$1,023,748$578,072$3,806,361
78$4,828,356$1,025,537$549,063$4,128,016
79$5,270,950$1,025,890$517,558$4,481,003
80$5,757,117$1,024,689$483,427$4,868,499
81$6,291,252$1,021,808$446,531$5,294,002
82$6,878,196$1,017,113$406,726$5,761,368
83$7,523,283$1,010,463$363,863$6,274,848
84$8,232,390$1,001,708$317,784$6,839,126
85$9,011,991$990,688$268,327$7,459,364
86$9,869,217$977,235$215,319$8,141,255
87$10,811,928$961,170$158,583$8,891,067
88$11,848,781$942,304$97,931$9,715,715
89$12,989,315$920,435$33,170$10,622,815
90$14,244,040$895,351$0$11,620,763
91$15,624,536$866,827$0$12,722,650
92$17,143,562$834,625$0$13,938,864
93$18,815,177$798,493$0$15,277,127
94$20,654,870$758,165$0$16,749,853
95$22,679,709$713,357$0$18,370,721
96$24,908,499$663,772$0$20,154,807
97$27,361,964$609,094$0$22,118,724
98$30,062,934$548,990$0$24,280,782
99$33,036,571$483,108$0$26,661,156
100$36,310,596$411,074$0$29,282,081