Can I retire at age 56 with 762,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%15%
1 years$62,925$62,365$61,818$61,284$60,763$59,512
2 years$31,151$30,571$30,009$29,464$28,935$27,680
3 years$20,561$19,978$19,418$18,878$18,357$17,138
4 years$15,267$14,686$14,131$13,600$13,093$11,918
5 years$12,092$11,514$10,966$10,446$9,953$8,827
6 years$9,975$9,402$8,862$8,354$7,875$6,798
7 years$8,464$7,896$7,365$6,868$6,405$5,378
8 years$7,331$6,768$6,246$5,762$5,313$4,335
9 years$6,451$5,893$5,380$4,908$4,475$3,545
10 years$5,747$5,194$4,690$4,230$3,813$2,931
11 years$5,171$4,624$4,129$3,682$3,279$2,444
12 years$4,692$4,151$3,664$3,229$2,841$2,052
13 years$4,286$3,751$3,274$2,851$2,478$1,732
14 years$3,939$3,409$2,942$2,531$2,172$1,469
15 years$3,639$3,115$2,656$2,257$1,912$1,251
16 years$3,376$2,858$2,408$2,021$1,690$1,068
17 years$3,144$2,632$2,191$1,816$1,499$915
18 years$2,939$2,432$2,000$1,636$1,333$785
19 years$2,755$2,254$1,831$1,479$1,188$675
20 years$2,590$2,094$1,680$1,339$1,061$581
21 years$2,441$1,951$1,546$1,215$949$501
22 years$2,305$1,821$1,425$1,105$851$432
23 years$2,181$1,703$1,315$1,006$764$374
24 years$2,068$1,596$1,217$918$687$323
25 years$1,965$1,497$1,127$838$618$280
26 years$1,869$1,407$1,045$766$557$242
27 years$1,780$1,325$970$702$502$210
28 years$1,698$1,248$902$643$453$182
29 years$1,622$1,177$839$589$409$158
30 years$1,551$1,112$782$541$369$137
31 years$1,485$1,051$729$497$334$119
32 years$1,423$995$680$457$302$103
33 years$1,365$942$635$420$273$90
34 years$1,310$893$593$386$248$78
35 years$1,259$847$555$356$224$68
36 years$1,210$804$519$328$203$59
37 years$1,165$763$486$302$184$51
38 years$1,121$725$455$278$167$44
39 years$1,080$690$426$256$151$38
40 years$1,042$656$399$237$137$33
41 years$1,005$625$375$218$125$29
42 years$970$595$351$201$113$25
43 years$937$567$330$186$103$22
44 years$905$540$309$172$93$19
45 years$875$515$291$159$85$17
46 years$847$492$273$146$77$14
47 years$819$469$256$135$70$13
48 years$793$448$241$125$63$11
49 years$768$428$226$116$57$9
50 years$744$409$213$107$52$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $762,000, adding $6,998 every year, while hoping to spend $43,535 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: 60/27/13 Blend
55$762,000$762,000$762,000$762,000
56$846,942$806,556$794,745$894,649
57$887,010$799,757$775,049$920,787
58$929,705$791,165$753,233$943,767
59$975,249$780,647$729,181$967,790
60$1,023,887$768,061$702,771$992,958
61$1,075,885$753,257$673,875$1,019,390
62$1,131,534$736,076$642,359$1,047,215
63$1,191,156$716,349$608,083$1,076,579
64$1,255,102$693,898$570,902$1,107,644
65$1,323,757$668,534$530,662$1,140,591
66$1,397,546$640,057$487,204$1,175,623
67$1,476,931$608,256$440,361$1,212,964
68$1,562,425$572,907$389,960$1,252,866
69$1,654,586$533,773$335,818$1,295,606
70$1,754,031$490,605$277,745$1,341,497
71$1,861,435$443,138$215,542$1,390,884
72$1,977,543$391,093$149,004$1,444,151
73$2,103,169$334,174$77,913$1,501,726
74$2,239,214$272,069$2,044$1,564,084
75$2,386,662$204,449$0$1,631,753
76$2,546,601$130,966$0$1,716,266
77$2,720,222$51,252$0$1,808,341
78$2,908,841$0$0$1,908,452
79$3,113,899$0$0$2,027,861
80$3,336,987$0$0$2,174,389
81$3,579,852$0$0$2,333,963
82$3,844,418$0$0$2,507,853
83$4,132,801$0$0$2,697,458
84$4,447,331$0$0$2,904,319
85$4,790,573$0$0$3,130,128
86$5,165,348$0$0$3,376,751
87$5,574,763$0$0$3,646,241
88$6,022,239$0$0$3,940,859
89$6,511,541$0$0$4,263,092
90$7,046,815$0$0$4,615,682
91$7,632,628$0$0$5,001,645
92$8,274,004$0$0$5,424,305
93$8,976,481$0$0$5,887,319
94$9,746,154$0$0$6,394,717
95$10,589,737$0$0$6,950,936
96$11,514,624$0$0$7,560,865
97$12,528,959$0$0$8,229,886
98$13,641,710$0$0$8,963,928
99$14,862,759$0$0$9,769,523
100$16,202,986$0$0$10,653,862