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%13.1%
1 years$63,668$63,101$62,548$62,008$61,481$60,687
2 years$31,519$30,932$30,363$29,812$29,276$28,478
3 years$20,804$20,214$19,647$19,101$18,574$17,796
4 years$15,447$14,860$14,298$13,761$13,247$12,495
5 years$12,234$11,650$11,096$10,570$10,070$9,346
6 years$10,093$9,513$8,967$8,453$7,968$7,273
7 years$8,564$7,989$7,452$6,949$6,480$5,815
8 years$7,418$6,848$6,320$5,830$5,376$4,740
9 years$6,527$5,963$5,443$4,966$4,527$3,920
10 years$5,815$5,256$4,745$4,280$3,858$3,279
11 years$5,232$4,679$4,178$3,725$3,318$2,767
12 years$4,747$4,200$3,708$3,268$2,875$2,352
13 years$4,337$3,795$3,313$2,885$2,507$2,010
14 years$3,986$3,450$2,976$2,561$2,198$1,727
15 years$3,682$3,151$2,687$2,284$1,935$1,489
16 years$3,416$2,891$2,436$2,045$1,710$1,289
17 years$3,182$2,663$2,217$1,837$1,516$1,119
18 years$2,973$2,461$2,024$1,656$1,348$973
19 years$2,788$2,280$1,853$1,496$1,202$848
20 years$2,620$2,119$1,700$1,355$1,073$741
21 years$2,469$1,974$1,564$1,230$961$648
22 years$2,332$1,842$1,441$1,118$861$568
23 years$2,207$1,723$1,331$1,018$773$498
24 years$2,093$1,615$1,231$929$695$437
25 years$1,988$1,515$1,140$848$625$384
26 years$1,891$1,424$1,057$776$563$338
27 years$1,801$1,340$982$710$508$297
28 years$1,718$1,263$913$650$458$261
29 years$1,641$1,191$849$596$414$230
30 years$1,569$1,125$791$547$374$203
31 years$1,502$1,064$738$503$338$179
32 years$1,440$1,006$688$462$306$158
33 years$1,381$953$643$425$277$139
34 years$1,325$903$600$391$250$123
35 years$1,274$857$561$360$227$108
36 years$1,225$813$525$331$206$96
37 years$1,178$772$491$305$186$84
38 years$1,135$734$460$281$169$75
39 years$1,093$698$431$260$153$66
40 years$1,054$664$404$239$139$58
41 years$1,017$632$379$221$126$51
42 years$982$602$355$204$114$45
43 years$948$574$334$188$104$40
44 years$916$547$313$174$94$35
45 years$886$521$294$160$86$31
46 years$857$497$276$148$78$28
47 years$829$475$259$137$71$24
48 years$802$453$244$127$64$22
49 years$777$433$229$117$58$19
50 years$753$413$215$108$53$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $771,000, adding $2,863 every year, while hoping to spend $58,799 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: 77/9/14 Blend
55$771,000$771,000$771,000$771,000
56$852,595$811,732$799,782$915,558
57$876,998$788,945$764,013$934,680
58$901,920$763,071$725,075$947,923
59$927,350$733,897$682,800$960,809
60$953,278$701,196$637,011$973,281
61$979,688$664,729$587,527$985,278
62$1,006,560$624,245$534,153$996,731
63$1,033,872$579,476$476,690$1,007,567
64$1,061,596$530,140$414,928$1,017,706
65$1,089,700$475,938$348,649$1,027,060
66$1,118,144$416,554$277,624$1,035,535
67$1,146,885$351,655$201,614$1,043,025
68$1,175,870$280,888$120,371$1,049,420
69$1,205,039$203,882$33,634$1,054,594
70$1,234,324$120,244$0$1,058,414
71$1,263,648$29,558$0$1,069,536
72$1,292,920$0$0$1,084,933
73$1,322,039$0$0$1,106,239
74$1,350,892$0$0$1,130,232
75$1,379,349$0$0$1,153,874
76$1,407,265$0$0$1,177,040
77$1,434,476$0$0$1,199,591
78$1,460,798$0$0$1,221,371
79$1,486,025$0$0$1,242,204
80$1,509,926$0$0$1,261,895
81$1,532,243$0$0$1,280,223
82$1,552,688$0$0$1,296,943
83$1,570,939$0$0$1,311,782
84$1,586,639$0$0$1,324,435
85$1,599,386$0$0$1,334,562
86$1,608,738$0$0$1,341,786
87$1,614,199$0$0$1,345,687
88$1,615,221$0$0$1,345,796
89$1,611,192$0$0$1,341,597
90$1,601,436$0$0$1,332,514
91$1,585,201$0$0$1,317,907
92$1,561,653$0$0$1,297,068
93$1,529,868$0$0$1,269,214
94$1,488,822$0$0$1,233,473
95$1,437,380$0$0$1,188,883
96$1,374,288$0$0$1,134,377
97$1,298,155$0$0$1,068,774
98$1,207,443$0$0$990,769
99$1,100,449$0$0$898,916
100$975,293$0$0$791,618