Can I retire at age 56 with 764,000?

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 $764,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$63,090$62,528$61,980$61,445$60,922$59,987
2 years$31,233$30,651$30,087$29,541$29,011$28,071
3 years$20,615$20,031$19,469$18,927$18,406$17,490
4 years$15,307$14,725$14,168$13,636$13,127$12,243
5 years$12,123$11,544$10,995$10,474$9,979$9,129
6 years$10,001$9,427$8,886$8,376$7,896$7,081
7 years$8,486$7,917$7,384$6,886$6,422$5,642
8 years$7,351$6,786$6,262$5,777$5,327$4,583
9 years$6,468$5,908$5,394$4,920$4,486$3,777
10 years$5,762$5,208$4,702$4,242$3,823$3,148
11 years$5,185$4,636$4,140$3,691$3,288$2,646
12 years$4,704$4,161$3,674$3,238$2,849$2,241
13 years$4,298$3,761$3,282$2,859$2,484$1,908
14 years$3,950$3,418$2,949$2,537$2,178$1,632
15 years$3,648$3,123$2,663$2,263$1,917$1,402
16 years$3,385$2,865$2,414$2,026$1,695$1,208
17 years$3,153$2,639$2,197$1,821$1,503$1,044
18 years$2,946$2,438$2,005$1,641$1,336$905
19 years$2,762$2,260$1,836$1,483$1,191$785
20 years$2,597$2,100$1,685$1,343$1,064$683
21 years$2,447$1,956$1,550$1,219$952$594
22 years$2,311$1,826$1,428$1,108$853$518
23 years$2,187$1,708$1,319$1,009$766$452
24 years$2,074$1,600$1,220$920$688$395
25 years$1,970$1,501$1,130$840$619$346
26 years$1,874$1,411$1,048$769$558$302
27 years$1,785$1,328$973$703$503$265
28 years$1,703$1,251$904$644$454$232
29 years$1,626$1,181$842$591$410$203
30 years$1,555$1,115$784$542$370$178
31 years$1,489$1,054$731$498$335$156
32 years$1,427$997$682$458$303$137
33 years$1,368$944$637$421$274$121
34 years$1,313$895$595$387$248$106
35 years$1,262$849$556$357$225$93
36 years$1,213$806$520$328$204$82
37 years$1,168$765$487$303$185$72
38 years$1,124$727$456$279$167$63
39 years$1,083$692$427$257$152$55
40 years$1,045$658$400$237$138$49
41 years$1,008$626$376$219$125$43
42 years$973$597$352$202$113$38
43 years$939$568$331$186$103$33
44 years$908$542$310$172$93$29
45 years$878$517$291$159$85$26
46 years$849$493$274$147$77$22
47 years$821$470$257$136$70$20
48 years$795$449$242$125$63$17
49 years$770$429$227$116$58$15
50 years$746$410$213$107$52$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $764,000, adding $2,282 every year, while hoping to spend $39,350 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: 33/48/19 Blend
55$764,000$764,000$764,000$764,000
56$844,282$803,790$791,948$867,117
57$888,531$801,307$776,610$881,757
58$935,974$797,385$759,440$893,747
59$986,896$791,909$740,333$905,843
60$1,041,608$784,762$719,184$918,077
61$1,100,455$775,817$695,879$930,489
62$1,163,810$764,941$670,300$943,125
63$1,232,087$751,992$642,323$956,039
64$1,305,741$736,820$611,822$969,295
65$1,385,268$719,266$578,659$982,970
66$1,471,217$699,162$542,696$997,148
67$1,564,189$676,329$503,784$1,011,931
68$1,664,845$650,578$461,770$1,027,435
69$1,773,914$621,711$416,494$1,043,791
70$1,892,194$589,516$367,788$1,061,151
71$2,020,566$553,770$315,476$1,079,688
72$2,159,995$514,236$259,376$1,099,600
73$2,311,545$470,665$199,296$1,121,110
74$2,476,388$422,792$135,038$1,144,472
75$2,655,810$370,340$66,392$1,169,972
76$2,851,229$313,012$0$1,197,935
77$3,064,202$250,498$0$1,230,118
78$3,296,447$182,468$0$1,279,996
79$3,549,851$108,576$0$1,334,607
80$3,826,493$28,453$0$1,394,521
81$4,128,661$0$0$1,460,374
82$4,458,874$0$0$1,563,664
83$4,819,905$0$0$1,693,134
84$5,214,807$0$0$1,834,865
85$5,646,942$0$0$1,990,076
86$6,120,013$0$0$2,160,113
87$6,638,094$0$0$2,346,456
88$7,205,676$0$0$2,550,734
89$7,827,701$0$0$2,774,745
90$8,509,616$0$0$3,020,466
91$9,257,415$0$0$3,290,075
92$10,077,705$0$0$3,585,973
93$10,977,758$0$0$3,910,802
94$11,965,590$0$0$4,267,473
95$13,050,025$0$0$4,659,195
96$14,240,787$0$0$5,089,500
97$15,548,586$0$0$5,562,281
98$16,985,220$0$0$6,081,826
99$18,563,688$0$0$6,652,859
100$20,298,308$0$0$7,280,583