Can I retire at age 56 with 762,000?

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 $762,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$62,925$62,365$61,818$61,284$60,763$60,153
2 years$31,151$30,571$30,009$29,464$28,935$28,321
3 years$20,561$19,978$19,418$18,878$18,357$17,758
4 years$15,267$14,686$14,131$13,600$13,093$12,513
5 years$12,092$11,514$10,966$10,446$9,953$9,394
6 years$9,975$9,402$8,862$8,354$7,875$7,338
7 years$8,464$7,896$7,365$6,868$6,405$5,889
8 years$7,331$6,768$6,246$5,762$5,313$4,820
9 years$6,451$5,893$5,380$4,908$4,475$4,003
10 years$5,747$5,194$4,690$4,230$3,813$3,362
11 years$5,171$4,624$4,129$3,682$3,279$2,849
12 years$4,692$4,151$3,664$3,229$2,841$2,433
13 years$4,286$3,751$3,274$2,851$2,478$2,089
14 years$3,939$3,409$2,942$2,531$2,172$1,803
15 years$3,639$3,115$2,656$2,257$1,912$1,562
16 years$3,376$2,858$2,408$2,021$1,690$1,359
17 years$3,144$2,632$2,191$1,816$1,499$1,185
18 years$2,939$2,432$2,000$1,636$1,333$1,036
19 years$2,755$2,254$1,831$1,479$1,188$908
20 years$2,590$2,094$1,680$1,339$1,061$797
21 years$2,441$1,951$1,546$1,215$949$701
22 years$2,305$1,821$1,425$1,105$851$617
23 years$2,181$1,703$1,315$1,006$764$544
24 years$2,068$1,596$1,217$918$687$480
25 years$1,965$1,497$1,127$838$618$424
26 years$1,869$1,407$1,045$766$557$375
27 years$1,780$1,325$970$702$502$332
28 years$1,698$1,248$902$643$453$294
29 years$1,622$1,177$839$589$409$260
30 years$1,551$1,112$782$541$369$231
31 years$1,485$1,051$729$497$334$204
32 years$1,423$995$680$457$302$181
33 years$1,365$942$635$420$273$161
34 years$1,310$893$593$386$248$143
35 years$1,259$847$555$356$224$127
36 years$1,210$804$519$328$203$113
37 years$1,165$763$486$302$184$100
38 years$1,121$725$455$278$167$89
39 years$1,080$690$426$256$151$79
40 years$1,042$656$399$237$137$70
41 years$1,005$625$375$218$125$62
42 years$970$595$351$201$113$55
43 years$937$567$330$186$103$49
44 years$905$540$309$172$93$44
45 years$875$515$291$159$85$39
46 years$847$492$273$146$77$35
47 years$819$469$256$135$70$31
48 years$793$448$241$125$63$27
49 years$768$428$226$116$57$24
50 years$744$409$213$107$52$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $762,000, adding $3,990 every year, while hoping to spend $48,092 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: 42/33/25 Blend
55$762,000$762,000$762,000$762,000
56$843,840$803,454$791,643$872,958
57$878,742$791,653$766,993$882,383
58$915,592$777,663$739,906$887,706
59$954,539$761,325$710,249$892,526
60$995,743$742,471$677,883$896,823
61$1,039,380$720,924$642,665$900,581
62$1,085,644$696,496$604,441$903,785
63$1,134,745$668,990$563,055$906,422
64$1,186,913$638,194$518,341$908,485
65$1,242,399$603,886$470,126$909,967
66$1,301,479$565,832$418,231$910,869
67$1,364,454$523,782$362,466$911,195
68$1,431,655$477,474$302,635$910,957
69$1,503,443$426,629$238,532$910,173
70$1,580,215$370,955$169,944$908,870
71$1,662,405$310,140$96,646$907,082
72$1,750,491$243,857$18,403$904,859
73$1,844,994$171,760$0$902,258
74$1,946,490$93,482$0$916,716
75$2,055,607$8,638$0$937,328
76$2,173,038$0$0$959,357
77$2,299,540$0$0$1,013,210
78$2,435,949$0$0$1,074,735
79$2,583,180$0$0$1,141,219
80$2,742,240$0$0$1,213,125
81$2,914,234$0$0$1,290,964
82$3,100,378$0$0$1,375,297
83$3,302,010$0$0$1,466,740
84$3,520,598$0$0$1,565,972
85$3,757,758$0$0$1,673,739
86$4,015,267$0$0$1,790,861
87$4,295,080$0$0$1,918,241
88$4,599,347$0$0$2,056,873
89$4,930,433$0$0$2,207,848
90$5,290,942$0$0$2,372,371
91$5,683,737$0$0$2,551,762
92$6,111,971$0$0$2,747,481
93$6,579,112$0$0$2,961,129
94$7,088,978$0$0$3,194,471
95$7,645,773$0$0$3,449,450
96$8,254,124$0$0$3,728,206
97$8,919,123$0$0$4,033,092
98$9,646,379$0$0$4,366,701
99$10,442,066$0$0$4,731,889
100$11,312,984$0$0$5,131,800