Can I retire at age 56 with 771,000?

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 $771,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$63,668$63,101$62,548$62,008$61,481$59,418
2 years$31,519$30,932$30,363$29,812$29,276$27,218
3 years$20,804$20,214$19,647$19,101$18,574$16,586
4 years$15,447$14,860$14,298$13,761$13,247$11,343
5 years$12,234$11,650$11,096$10,570$10,070$8,256
6 years$10,093$9,513$8,967$8,453$7,968$6,246
7 years$8,564$7,989$7,452$6,949$6,480$4,849
8 years$7,418$6,848$6,320$5,830$5,376$3,834
9 years$6,527$5,963$5,443$4,966$4,527$3,073
10 years$5,815$5,256$4,745$4,280$3,858$2,489
11 years$5,232$4,679$4,178$3,725$3,318$2,032
12 years$4,747$4,200$3,708$3,268$2,875$1,669
13 years$4,337$3,795$3,313$2,885$2,507$1,378
14 years$3,986$3,450$2,976$2,561$2,198$1,143
15 years$3,682$3,151$2,687$2,284$1,935$951
16 years$3,416$2,891$2,436$2,045$1,710$793
17 years$3,182$2,663$2,217$1,837$1,516$663
18 years$2,973$2,461$2,024$1,656$1,348$555
19 years$2,788$2,280$1,853$1,496$1,202$465
20 years$2,620$2,119$1,700$1,355$1,073$391
21 years$2,469$1,974$1,564$1,230$961$329
22 years$2,332$1,842$1,441$1,118$861$276
23 years$2,207$1,723$1,331$1,018$773$233
24 years$2,093$1,615$1,231$929$695$196
25 years$1,988$1,515$1,140$848$625$165
26 years$1,891$1,424$1,057$776$563$139
27 years$1,801$1,340$982$710$508$118
28 years$1,718$1,263$913$650$458$99
29 years$1,641$1,191$849$596$414$84
30 years$1,569$1,125$791$547$374$71
31 years$1,502$1,064$738$503$338$60
32 years$1,440$1,006$688$462$306$50
33 years$1,381$953$643$425$277$43
34 years$1,325$903$600$391$250$36
35 years$1,274$857$561$360$227$30
36 years$1,225$813$525$331$206$26
37 years$1,178$772$491$305$186$22
38 years$1,135$734$460$281$169$18
39 years$1,093$698$431$260$153$16
40 years$1,054$664$404$239$139$13
41 years$1,017$632$379$221$126$11
42 years$982$602$355$204$114$9
43 years$948$574$334$188$104$8
44 years$916$547$313$174$94$7
45 years$886$521$294$160$86$6
46 years$857$497$276$148$78$5
47 years$829$475$259$137$71$4
48 years$802$453$244$127$64$3
49 years$777$433$229$117$58$3
50 years$753$413$215$108$53$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $771,000, adding $2,871 every year, while hoping to spend $52,707 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: 42/41/17 Blend
55$771,000$771,000$771,000$771,000
56$852,603$811,740$799,790$884,056
57$883,489$795,436$770,503$890,245
58$915,759$776,566$738,469$891,558
59$949,498$754,949$703,539$891,864
60$984,798$730,394$665,559$891,098
61$1,021,761$702,696$624,369$889,190
62$1,060,494$671,641$579,798$886,067
63$1,101,115$637,002$531,672$881,656
64$1,143,751$598,538$479,806$875,880
65$1,188,541$555,994$424,007$868,660
66$1,235,637$509,102$364,075$859,915
67$1,285,200$457,577$299,800$849,562
68$1,337,410$401,118$230,963$837,516
69$1,392,461$339,407$157,336$823,689
70$1,450,564$272,110$78,678$807,994
71$1,511,950$198,872$0$790,341
72$1,576,870$119,318$0$771,595
73$1,645,599$33,053$0$766,002
74$1,718,437$0$0$759,237
75$1,795,712$0$0$778,482
76$1,877,781$0$0$814,809
77$1,965,037$0$0$853,484
78$2,057,908$0$0$894,704
79$2,156,864$0$0$938,685
80$2,262,419$0$0$985,662
81$2,375,135$0$0$1,035,895
82$2,495,630$0$0$1,089,668
83$2,624,579$0$0$1,147,290
84$2,762,724$0$0$1,209,104
85$2,910,880$0$0$1,275,484
86$3,069,937$0$0$1,346,841
87$3,240,876$0$0$1,423,626
88$3,424,771$0$0$1,506,334
89$3,622,803$0$0$1,595,509
90$3,836,269$0$0$1,691,750
91$4,066,593$0$0$1,795,712
92$4,315,339$0$0$1,908,118
93$4,584,227$0$0$2,029,760
94$4,875,145$0$0$2,161,511
95$5,190,173$0$0$2,304,329
96$5,531,593$0$0$2,459,268
97$5,901,916$0$0$2,627,488
98$6,303,904$0$0$2,810,263
99$6,740,595$0$0$3,008,997
100$7,215,330$0$0$3,225,232