Can I retire at age 56 with 763,000?

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 $763,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$63,008$62,447$61,899$61,365$60,843$59,517
2 years$31,192$30,611$30,048$29,502$28,973$27,644
3 years$20,588$20,005$19,443$18,902$18,381$17,091
4 years$15,287$14,706$14,150$13,618$13,110$11,867
5 years$12,107$11,529$10,981$10,460$9,966$8,775
6 years$9,988$9,415$8,874$8,365$7,886$6,748
7 years$8,475$7,906$7,374$6,877$6,413$5,328
8 years$7,341$6,777$6,254$5,769$5,320$4,288
9 years$6,459$5,901$5,387$4,914$4,480$3,501
10 years$5,754$5,201$4,696$4,236$3,818$2,889
11 years$5,178$4,630$4,134$3,687$3,283$2,404
12 years$4,698$4,156$3,669$3,234$2,845$2,015
13 years$4,292$3,756$3,278$2,855$2,481$1,697
14 years$3,944$3,414$2,945$2,534$2,175$1,437
15 years$3,643$3,119$2,659$2,260$1,915$1,220
16 years$3,380$2,861$2,411$2,024$1,692$1,040
17 years$3,148$2,635$2,194$1,818$1,501$889
18 years$2,943$2,435$2,003$1,639$1,334$761
19 years$2,759$2,257$1,834$1,481$1,189$653
20 years$2,593$2,097$1,683$1,341$1,062$561
21 years$2,444$1,953$1,548$1,217$951$482
22 years$2,308$1,823$1,426$1,107$852$415
23 years$2,184$1,705$1,317$1,008$765$358
24 years$2,071$1,598$1,218$919$688$309
25 years$1,967$1,499$1,128$839$619$267
26 years$1,871$1,409$1,046$767$557$230
27 years$1,783$1,326$972$703$502$199
28 years$1,701$1,250$903$644$453$172
29 years$1,624$1,179$841$590$409$149
30 years$1,553$1,113$783$542$370$129
31 years$1,487$1,053$730$497$334$112
32 years$1,425$996$681$457$302$97
33 years$1,366$943$636$420$274$84
34 years$1,312$894$594$387$248$73
35 years$1,260$848$555$356$224$63
36 years$1,212$805$520$328$203$54
37 years$1,166$764$486$302$184$47
38 years$1,123$726$455$279$167$41
39 years$1,082$691$427$257$152$35
40 years$1,043$657$400$237$137$31
41 years$1,006$626$375$219$125$27
42 years$971$596$352$202$113$23
43 years$938$568$330$186$103$20
44 years$907$541$310$172$93$17
45 years$876$516$291$159$85$15
46 years$848$492$273$147$77$13
47 years$820$470$257$135$70$11
48 years$794$448$241$125$63$10
49 years$769$428$227$116$58$9
50 years$745$409$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 $763,000, adding $6,983 every year, while hoping to spend $26,563 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: 80/11/9 Blend
55$763,000$763,000$763,000$763,000
56$848,029$807,590$795,763$914,180
57$906,265$818,899$794,159$969,869
58$969,551$829,872$791,610$1,026,771
59$1,038,374$840,464$788,057$1,088,419
60$1,113,269$850,628$783,439$1,155,276
61$1,194,827$860,313$777,688$1,227,847
62$1,283,696$869,465$770,737$1,306,694
63$1,380,589$878,026$762,513$1,392,432
64$1,486,294$885,933$752,942$1,485,740
65$1,601,674$893,122$741,944$1,587,365
66$1,727,682$899,523$729,436$1,698,132
67$1,865,366$905,059$715,333$1,818,947
68$2,015,880$909,654$699,543$1,950,810
69$2,180,494$913,221$681,971$2,094,824
70$2,360,606$915,671$662,520$2,252,201
71$2,557,758$916,909$641,084$2,424,279
72$2,773,645$916,833$617,556$2,612,532
73$3,010,135$915,336$591,823$2,818,582
74$3,269,285$912,303$563,764$3,044,220
75$3,553,359$907,614$533,258$3,291,417
76$3,864,853$901,138$500,174$3,562,346
77$4,206,515$892,741$464,376$3,859,401
78$4,581,371$882,276$425,724$4,185,220
79$4,992,754$869,591$384,069$4,542,711
80$5,444,337$854,524$339,258$4,935,079
81$5,940,165$836,901$291,129$5,365,854
82$6,484,694$816,540$239,513$5,838,928
83$7,082,831$793,249$184,235$6,358,590
84$7,739,984$766,823$125,111$6,929,567
85$8,462,109$737,044$61,949$7,557,067
86$9,255,770$703,685$0$8,246,831
87$10,128,196$666,503$0$9,005,710
88$11,087,352$625,242$0$9,846,534
89$12,142,014$579,630$0$10,771,053
90$13,301,849$529,382$0$11,787,759
91$14,577,510$474,194$0$12,906,006
92$15,980,732$413,746$0$14,136,104
93$17,524,448$347,700$0$15,489,414
94$19,222,903$275,699$0$16,978,456
95$21,091,796$197,366$0$18,617,025
96$23,148,423$112,300$0$20,420,323
97$25,411,842$20,083$0$22,405,103
98$27,903,051$0$0$24,589,827
99$30,645,189$0$0$27,004,488
100$33,663,749$0$0$29,665,263