Can I retire at age 56 with 766,000?

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 $766,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$63,256$62,692$62,142$61,606$61,082$59,056
2 years$31,315$30,731$30,166$29,618$29,087$27,065
3 years$20,669$20,083$19,520$18,977$18,454$16,500
4 years$15,347$14,763$14,205$13,672$13,161$11,291
5 years$12,155$11,575$11,024$10,501$10,005$8,222
6 years$10,028$9,452$8,909$8,398$7,917$6,223
7 years$8,509$7,937$7,403$6,904$6,438$4,834
8 years$7,370$6,804$6,279$5,792$5,341$3,825
9 years$6,485$5,924$5,408$4,933$4,498$3,068
10 years$5,777$5,222$4,715$4,253$3,833$2,486
11 years$5,198$4,649$4,151$3,701$3,296$2,031
12 years$4,716$4,172$3,684$3,246$2,856$1,670
13 years$4,309$3,771$3,291$2,866$2,491$1,380
14 years$3,960$3,427$2,957$2,544$2,183$1,145
15 years$3,658$3,131$2,670$2,269$1,922$953
16 years$3,394$2,873$2,421$2,032$1,699$795
17 years$3,161$2,646$2,203$1,825$1,507$665
18 years$2,954$2,445$2,011$1,645$1,340$557
19 years$2,769$2,266$1,841$1,486$1,194$468
20 years$2,603$2,105$1,689$1,346$1,066$393
21 years$2,453$1,961$1,554$1,222$954$331
22 years$2,317$1,831$1,432$1,111$855$279
23 years$2,193$1,712$1,322$1,012$768$235
24 years$2,079$1,604$1,223$923$690$198
25 years$1,975$1,505$1,133$843$621$167
26 years$1,879$1,415$1,050$771$559$141
27 years$1,790$1,331$975$705$504$119
28 years$1,707$1,255$907$646$455$100
29 years$1,631$1,184$844$593$411$85
30 years$1,559$1,118$786$544$371$72
31 years$1,493$1,057$733$499$336$61
32 years$1,430$1,000$684$459$304$51
33 years$1,372$947$638$422$275$43
34 years$1,317$897$596$388$249$37
35 years$1,265$851$558$358$225$31
36 years$1,217$808$522$329$204$26
37 years$1,171$767$488$303$185$22
38 years$1,127$729$457$280$168$19
39 years$1,086$693$428$258$152$16
40 years$1,047$660$402$238$138$13
41 years$1,010$628$377$219$125$11
42 years$975$598$353$202$114$10
43 years$942$570$331$187$103$8
44 years$910$543$311$173$94$7
45 years$880$518$292$159$85$6
46 years$851$494$274$147$77$5
47 years$823$472$258$136$70$4
48 years$797$450$242$126$64$4
49 years$772$430$228$116$58$3
50 years$748$411$214$107$52$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $766,000, adding $2,132 every year, while hoping to spend $45,544 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: 66/18/16 Blend
55$766,000$766,000$766,000$766,000
56$846,331$805,733$793,860$898,786
57$884,198$796,756$771,996$925,145
58$924,402$785,812$747,873$948,455
59$967,131$772,757$721,367$972,813
60$1,012,595$757,439$692,350$998,322
61$1,061,021$739,694$660,684$1,025,093
62$1,112,658$719,352$626,230$1,053,252
63$1,167,780$696,231$588,840$1,082,940
64$1,226,686$670,139$548,358$1,114,312
65$1,289,703$640,871$504,623$1,147,542
66$1,357,192$608,213$457,467$1,182,823
67$1,429,547$571,936$406,714$1,220,371
68$1,507,200$531,801$352,178$1,260,423
69$1,590,627$487,552$293,669$1,303,246
70$1,680,349$438,920$230,985$1,349,135
71$1,776,939$385,621$163,917$1,398,418
72$1,881,024$327,353$92,245$1,451,459
73$1,993,294$263,800$15,742$1,508,664
74$2,114,510$194,626$0$1,570,480
75$2,245,503$119,475$0$1,648,657
76$2,387,190$37,975$0$1,736,096
77$2,540,577$0$0$1,830,764
78$2,706,772$0$0$1,943,345
79$2,886,990$0$0$2,073,623
80$3,082,571$0$0$2,215,050
81$3,294,986$0$0$2,368,694
82$3,525,854$0$0$2,535,733
83$3,776,956$0$0$2,717,460
84$4,050,252$0$0$2,915,302
85$4,347,897$0$0$3,130,823
86$4,672,265$0$0$3,365,750
87$5,025,965$0$0$3,621,981
88$5,411,873$0$0$3,901,604
89$5,833,151$0$0$4,206,919
90$6,293,282$0$0$4,540,458
91$6,796,097$0$0$4,905,008
92$7,345,819$0$0$5,303,637
93$7,947,092$0$0$5,739,723
94$8,605,034$0$0$6,216,985
95$9,325,276$0$0$6,739,521
96$10,114,023$0$0$7,311,840
97$10,978,106$0$0$7,938,909
98$11,925,047$0$0$8,626,199
99$12,963,132$0$0$9,379,734
100$14,101,486$0$0$10,206,151