Can I retire at age 56 with 766,000?

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 $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%16.2%
1 years$63,256$62,692$62,142$61,606$61,082$59,533
2 years$31,315$30,731$30,166$29,618$29,087$27,536
3 years$20,669$20,083$19,520$18,977$18,454$16,950
4 years$15,347$14,763$14,205$13,672$13,161$11,716
5 years$12,155$11,575$11,024$10,501$10,005$8,622
6 years$10,028$9,452$8,909$8,398$7,917$6,598
7 years$8,509$7,937$7,403$6,904$6,438$5,184
8 years$7,370$6,804$6,279$5,792$5,341$4,150
9 years$6,485$5,924$5,408$4,933$4,498$3,369
10 years$5,777$5,222$4,715$4,253$3,833$2,765
11 years$5,198$4,649$4,151$3,701$3,296$2,288
12 years$4,716$4,172$3,684$3,246$2,856$1,906
13 years$4,309$3,771$3,291$2,866$2,491$1,596
14 years$3,960$3,427$2,957$2,544$2,183$1,343
15 years$3,658$3,131$2,670$2,269$1,922$1,134
16 years$3,394$2,873$2,421$2,032$1,699$960
17 years$3,161$2,646$2,203$1,825$1,507$815
18 years$2,954$2,445$2,011$1,645$1,340$693
19 years$2,769$2,266$1,841$1,486$1,194$590
20 years$2,603$2,105$1,689$1,346$1,066$504
21 years$2,453$1,961$1,554$1,222$954$430
22 years$2,317$1,831$1,432$1,111$855$368
23 years$2,193$1,712$1,322$1,012$768$315
24 years$2,079$1,604$1,223$923$690$270
25 years$1,975$1,505$1,133$843$621$231
26 years$1,879$1,415$1,050$771$559$198
27 years$1,790$1,331$975$705$504$170
28 years$1,707$1,255$907$646$455$146
29 years$1,631$1,184$844$593$411$126
30 years$1,559$1,118$786$544$371$108
31 years$1,493$1,057$733$499$336$93
32 years$1,430$1,000$684$459$304$80
33 years$1,372$947$638$422$275$68
34 years$1,317$897$596$388$249$59
35 years$1,265$851$558$358$225$51
36 years$1,217$808$522$329$204$44
37 years$1,171$767$488$303$185$37
38 years$1,127$729$457$280$168$32
39 years$1,086$693$428$258$152$28
40 years$1,047$660$402$238$138$24
41 years$1,010$628$377$219$125$20
42 years$975$598$353$202$114$18
43 years$942$570$331$187$103$15
44 years$910$543$311$173$94$13
45 years$880$518$292$159$85$11
46 years$851$494$274$147$77$10
47 years$823$472$258$136$70$8
48 years$797$450$242$126$64$7
49 years$772$430$228$116$58$6
50 years$748$411$214$107$52$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $766,000, adding $4,376 every year, while hoping to spend $29,032 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: 83/6/11 Blend
55$766,000$766,000$766,000$766,000
56$848,646$808,048$796,175$917,182
57$904,318$816,752$791,957$971,403
58$964,695$824,910$786,625$1,026,624
59$1,030,228$832,464$780,110$1,086,391
60$1,101,409$839,353$772,342$1,151,142
61$1,178,783$845,512$763,246$1,221,364
62$1,262,948$850,871$752,743$1,297,590
63$1,354,561$855,356$740,752$1,380,408
64$1,454,347$858,889$727,188$1,470,465
65$1,563,102$861,386$711,960$1,568,475
66$1,681,702$862,758$694,975$1,675,224
67$1,811,114$862,911$676,135$1,791,577
68$1,952,399$861,745$655,337$1,918,488
69$2,106,726$859,154$632,473$2,057,007
70$2,275,383$855,023$607,432$2,208,293
71$2,459,787$849,234$580,096$2,373,621
72$2,661,498$841,659$550,342$2,554,396
73$2,882,234$832,163$518,041$2,752,166
74$3,123,887$820,604$483,061$2,968,637
75$3,388,540$806,830$445,260$3,205,691
76$3,678,487$790,681$404,492$3,465,398
77$3,996,254$771,986$360,604$3,750,041
78$4,344,625$750,566$313,437$4,062,137
79$4,726,663$726,230$262,823$4,404,456
80$5,145,744$698,777$208,589$4,780,055
81$5,605,585$667,992$150,552$5,192,299
82$6,110,282$633,651$88,523$5,644,899
83$6,664,345$595,514$22,303$6,141,943
84$7,272,744$553,330$0$6,687,936
85$7,940,951$506,830$0$7,293,521
86$8,674,996$455,733$0$7,961,655
87$9,481,522$399,740$0$8,695,774
88$10,367,847$338,537$0$9,502,552
89$11,342,031$271,790$0$10,389,342
90$12,412,958$199,146$0$11,364,245
91$13,590,411$120,236$0$12,436,187
92$14,885,171$34,666$0$13,615,004
93$16,309,116$0$0$14,911,534
94$17,875,332$0$0$16,341,546
95$19,598,236$0$0$17,917,156
96$21,493,714$0$0$19,650,604
97$23,579,270$0$0$21,557,900
98$25,874,187$0$0$23,656,683
99$28,399,717$0$0$25,966,387
100$31,179,270$0$0$28,508,428