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%16.3%
1 years$62,925$62,365$61,818$61,284$60,763$59,198
2 years$31,151$30,571$30,009$29,464$28,935$27,368
3 years$20,561$19,978$19,418$18,878$18,357$16,839
4 years$15,267$14,686$14,131$13,600$13,093$11,633
5 years$12,092$11,514$10,966$10,446$9,953$8,557
6 years$9,975$9,402$8,862$8,354$7,875$6,544
7 years$8,464$7,896$7,365$6,868$6,405$5,139
8 years$7,331$6,768$6,246$5,762$5,313$4,112
9 years$6,451$5,893$5,380$4,908$4,475$3,336
10 years$5,747$5,194$4,690$4,230$3,813$2,736
11 years$5,171$4,624$4,129$3,682$3,279$2,263
12 years$4,692$4,151$3,664$3,229$2,841$1,884
13 years$4,286$3,751$3,274$2,851$2,478$1,576
14 years$3,939$3,409$2,942$2,531$2,172$1,325
15 years$3,639$3,115$2,656$2,257$1,912$1,118
16 years$3,376$2,858$2,408$2,021$1,690$946
17 years$3,144$2,632$2,191$1,816$1,499$802
18 years$2,939$2,432$2,000$1,636$1,333$682
19 years$2,755$2,254$1,831$1,479$1,188$581
20 years$2,590$2,094$1,680$1,339$1,061$495
21 years$2,441$1,951$1,546$1,215$949$423
22 years$2,305$1,821$1,425$1,105$851$361
23 years$2,181$1,703$1,315$1,006$764$309
24 years$2,068$1,596$1,217$918$687$264
25 years$1,965$1,497$1,127$838$618$227
26 years$1,869$1,407$1,045$766$557$194
27 years$1,780$1,325$970$702$502$166
28 years$1,698$1,248$902$643$453$143
29 years$1,622$1,177$839$589$409$123
30 years$1,551$1,112$782$541$369$105
31 years$1,485$1,051$729$497$334$90
32 years$1,423$995$680$457$302$78
33 years$1,365$942$635$420$273$67
34 years$1,310$893$593$386$248$57
35 years$1,259$847$555$356$224$49
36 years$1,210$804$519$328$203$42
37 years$1,165$763$486$302$184$36
38 years$1,121$725$455$278$167$31
39 years$1,080$690$426$256$151$27
40 years$1,042$656$399$237$137$23
41 years$1,005$625$375$218$125$20
42 years$970$595$351$201$113$17
43 years$937$567$330$186$103$15
44 years$905$540$309$172$93$13
45 years$875$515$291$159$85$11
46 years$847$492$273$146$77$9
47 years$819$469$256$135$70$8
48 years$793$448$241$125$63$7
49 years$768$428$226$116$57$6
50 years$744$409$213$107$52$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $762,000, adding $4,711 every year, while hoping to spend $29,257 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: 78/17/5 Blend
55$762,000$762,000$762,000$762,000
56$844,583$804,197$792,386$909,894
57$899,602$812,474$787,802$961,648
58$959,251$820,175$782,084$1,014,086
59$1,023,974$827,243$775,162$1,070,712
60$1,094,254$833,613$766,966$1,131,928
61$1,170,628$839,219$757,418$1,198,179
62$1,253,681$843,990$746,441$1,269,951
63$1,344,060$847,850$733,951$1,347,783
64$1,442,477$850,717$719,861$1,432,267
65$1,549,715$852,507$704,081$1,524,057
66$1,666,634$853,128$686,516$1,623,871
67$1,794,182$852,483$667,066$1,732,503
68$1,933,403$850,469$645,627$1,850,825
69$2,085,446$846,977$622,091$1,979,799
70$2,251,574$841,892$596,343$2,120,486
71$2,433,179$835,090$568,266$2,274,054
72$2,631,795$826,441$537,734$2,441,792
73$2,849,108$815,806$504,618$2,625,118
74$3,086,976$803,040$468,783$2,825,596
75$3,347,446$787,987$430,085$3,044,950
76$3,632,770$770,483$388,377$3,285,079
77$3,945,429$750,353$343,504$3,548,078
78$4,288,156$727,414$295,305$3,836,255
79$4,663,961$701,470$243,611$4,152,152
80$5,076,158$672,315$188,244$4,498,573
81$5,528,397$639,730$129,022$4,878,608
82$6,024,701$603,484$65,752$5,295,663
83$6,569,499$563,333$0$5,753,491
84$7,167,670$519,018$0$6,256,324
85$7,824,589$470,266$0$6,812,377
86$8,546,177$416,789$0$7,423,177
87$9,338,956$358,281$0$8,094,276
88$10,210,113$294,420$0$8,831,793
89$11,167,563$224,865$0$9,642,473
90$12,220,027$149,257$0$10,533,746
91$13,377,114$67,215$0$11,513,805
92$14,649,410$0$0$12,591,676
93$16,048,576$0$0$13,781,362
94$17,587,462$0$0$15,103,706
95$19,280,225$0$0$16,558,304
96$21,142,464$0$0$18,158,562
97$23,191,364$0$0$19,919,253
98$25,445,862$0$0$21,856,653
99$27,926,821$0$0$23,988,695
100$30,657,231$0$0$26,335,140