Can I retire at age 56 with 761,000?

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 $761,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$62,843$62,283$61,737$61,204$60,683$59,313
2 years$31,110$30,531$29,969$29,425$28,897$27,523
3 years$20,534$19,952$19,392$18,853$18,333$17,000
4 years$15,247$14,667$14,112$13,582$13,075$11,792
5 years$12,076$11,499$10,952$10,433$9,940$8,710
6 years$9,962$9,390$8,851$8,343$7,865$6,691
7 years$8,453$7,886$7,355$6,859$6,396$5,277
8 years$7,322$6,759$6,238$5,754$5,306$4,242
9 years$6,442$5,885$5,372$4,901$4,469$3,459
10 years$5,739$5,188$4,684$4,225$3,808$2,851
11 years$5,164$4,618$4,124$3,677$3,275$2,370
12 years$4,686$4,145$3,660$3,225$2,838$1,983
13 years$4,281$3,746$3,270$2,847$2,475$1,669
14 years$3,934$3,405$2,938$2,528$2,169$1,410
15 years$3,634$3,110$2,652$2,254$1,910$1,196
16 years$3,372$2,854$2,405$2,018$1,688$1,018
17 years$3,140$2,628$2,188$1,813$1,497$869
18 years$2,935$2,429$1,998$1,634$1,331$743
19 years$2,751$2,251$1,829$1,477$1,186$636
20 years$2,586$2,092$1,678$1,337$1,060$546
21 years$2,437$1,948$1,544$1,214$948$469
22 years$2,302$1,819$1,423$1,104$850$403
23 years$2,179$1,701$1,314$1,005$763$347
24 years$2,066$1,594$1,215$917$686$299
25 years$1,962$1,496$1,125$837$617$258
26 years$1,866$1,406$1,044$765$556$222
27 years$1,778$1,323$969$701$501$192
28 years$1,696$1,246$901$642$452$166
29 years$1,620$1,176$838$589$408$143
30 years$1,549$1,111$781$540$369$124
31 years$1,483$1,050$728$496$334$107
32 years$1,421$993$679$456$302$92
33 years$1,363$941$634$419$273$80
34 years$1,308$892$593$386$247$69
35 years$1,257$846$554$355$224$60
36 years$1,209$803$518$327$203$52
37 years$1,163$762$485$301$184$45
38 years$1,120$724$454$278$167$39
39 years$1,079$689$426$256$151$33
40 years$1,040$655$399$236$137$29
41 years$1,004$624$374$218$124$25
42 years$969$594$351$201$113$22
43 years$936$566$329$186$102$19
44 years$904$540$309$171$93$16
45 years$874$515$290$158$84$14
46 years$845$491$273$146$77$12
47 years$818$468$256$135$70$11
48 years$792$447$241$125$63$9
49 years$767$427$226$115$57$8
50 years$743$408$213$107$52$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $761,000, adding $2,973 every year, while hoping to spend $55,742 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: 62/8/30 Blend
55$761,000$761,000$761,000$761,000
56$841,689$801,356$789,560$886,891
57$868,232$781,313$756,701$897,973
58$895,614$758,420$720,874$903,796
59$923,862$732,478$681,918$908,990
60$953,004$703,278$639,671$913,505
61$983,068$670,596$593,957$917,288
62$1,014,084$634,197$544,597$920,284
63$1,046,081$593,834$491,402$922,434
64$1,079,092$549,242$434,174$923,676
65$1,113,148$500,144$372,708$923,947
66$1,148,284$446,246$306,789$923,176
67$1,184,534$387,237$236,192$921,294
68$1,221,935$322,790$160,682$918,224
69$1,260,522$252,556$80,014$913,886
70$1,300,334$176,171$0$908,197
71$1,341,412$93,246$0$903,013
72$1,383,795$3,375$0$923,758
73$1,427,526$0$0$944,783
74$1,472,650$0$0$974,344
75$1,519,210$0$0$1,005,153
76$1,567,255$0$0$1,036,945
77$1,616,833$0$0$1,069,752
78$1,667,994$0$0$1,103,607
79$1,720,790$0$0$1,138,544
80$1,775,275$0$0$1,174,600
81$1,831,505$0$0$1,211,810
82$1,889,537$0$0$1,250,215
83$1,949,432$0$0$1,289,853
84$2,011,252$0$0$1,330,765
85$2,075,062$0$0$1,372,995
86$2,140,928$0$0$1,416,587
87$2,208,920$0$0$1,461,587
88$2,279,110$0$0$1,508,043
89$2,351,573$0$0$1,556,005
90$2,426,387$0$0$1,605,525
91$2,503,634$0$0$1,656,656
92$2,583,396$0$0$1,709,454
93$2,665,763$0$0$1,763,978
94$2,750,825$0$0$1,820,289
95$2,838,679$0$0$1,878,449
96$2,929,422$0$0$1,938,525
97$3,023,158$0$0$2,000,586
98$3,119,996$0$0$2,064,704
99$3,220,049$0$0$2,130,953
100$3,323,434$0$0$2,199,413