Can I retire at age 56 with 771,000?

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 $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%16%
1 years$63,668$63,101$62,548$62,008$61,481$59,970
2 years$31,519$30,932$30,363$29,812$29,276$27,764
3 years$20,804$20,214$19,647$19,101$18,574$17,107
4 years$15,447$14,860$14,298$13,761$13,247$11,837
5 years$12,234$11,650$11,096$10,570$10,070$8,720
6 years$10,093$9,513$8,967$8,453$7,968$6,680
7 years$8,564$7,989$7,452$6,949$6,480$5,254
8 years$7,418$6,848$6,320$5,830$5,376$4,211
9 years$6,527$5,963$5,443$4,966$4,527$3,423
10 years$5,815$5,256$4,745$4,280$3,858$2,813
11 years$5,232$4,679$4,178$3,725$3,318$2,330
12 years$4,747$4,200$3,708$3,268$2,875$1,944
13 years$4,337$3,795$3,313$2,885$2,507$1,630
14 years$3,986$3,450$2,976$2,561$2,198$1,373
15 years$3,682$3,151$2,687$2,284$1,935$1,161
16 years$3,416$2,891$2,436$2,045$1,710$984
17 years$3,182$2,663$2,217$1,837$1,516$837
18 years$2,973$2,461$2,024$1,656$1,348$713
19 years$2,788$2,280$1,853$1,496$1,202$608
20 years$2,620$2,119$1,700$1,355$1,073$520
21 years$2,469$1,974$1,564$1,230$961$445
22 years$2,332$1,842$1,441$1,118$861$381
23 years$2,207$1,723$1,331$1,018$773$327
24 years$2,093$1,615$1,231$929$695$280
25 years$1,988$1,515$1,140$848$625$241
26 years$1,891$1,424$1,057$776$563$207
27 years$1,801$1,340$982$710$508$178
28 years$1,718$1,263$913$650$458$153
29 years$1,641$1,191$849$596$414$131
30 years$1,569$1,125$791$547$374$113
31 years$1,502$1,064$738$503$338$97
32 years$1,440$1,006$688$462$306$84
33 years$1,381$953$643$425$277$72
34 years$1,325$903$600$391$250$62
35 years$1,274$857$561$360$227$54
36 years$1,225$813$525$331$206$46
37 years$1,178$772$491$305$186$40
38 years$1,135$734$460$281$169$34
39 years$1,093$698$431$260$153$29
40 years$1,054$664$404$239$139$25
41 years$1,017$632$379$221$126$22
42 years$982$602$355$204$114$19
43 years$948$574$334$188$104$16
44 years$916$547$313$174$94$14
45 years$886$521$294$160$86$12
46 years$857$497$276$148$78$10
47 years$829$475$259$137$71$9
48 years$802$453$244$127$64$8
49 years$777$433$229$117$58$7
50 years$753$413$215$108$53$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $771,000, adding $3,681 every year, while hoping to spend $42,418 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: 70/11/19 Blend
55$771,000$771,000$771,000$771,000
56$853,439$812,576$800,625$909,005
57$895,357$807,260$782,314$941,200
58$940,130$800,261$761,967$971,053
59$988,002$791,454$739,473$1,002,671
60$1,039,245$780,702$714,712$1,036,222
61$1,094,155$767,863$687,561$1,071,896
62$1,153,056$752,785$657,892$1,109,900
63$1,216,304$735,308$625,568$1,150,465
64$1,284,292$715,263$590,449$1,193,843
65$1,357,448$692,469$552,387$1,240,319
66$1,436,244$666,736$511,228$1,290,202
67$1,521,197$637,863$466,811$1,343,837
68$1,612,877$605,636$418,967$1,401,607
69$1,711,909$569,831$367,521$1,463,933
70$1,818,980$530,208$312,289$1,531,281
71$1,934,843$486,516$253,078$1,604,167
72$2,060,331$438,489$189,690$1,683,161
73$2,196,354$385,844$121,914$1,768,894
74$2,343,917$328,285$49,533$1,862,063
75$2,504,122$265,497$0$1,963,439
76$2,678,184$197,148$0$2,079,489
77$2,867,437$122,886$0$2,216,620
78$3,073,351$42,343$0$2,365,869
79$3,297,541$0$0$2,528,436
80$3,541,785$0$0$2,711,078
81$3,808,042$0$0$2,915,805
82$4,098,463$0$0$3,139,152
83$4,415,421$0$0$3,382,948
84$4,761,524$0$0$3,649,204
85$5,139,646$0$0$3,940,136
86$5,552,948$0$0$4,258,182
87$6,004,911$0$0$4,606,028
88$6,499,371$0$0$4,986,630
89$7,040,547$0$0$5,403,244
90$7,633,087$0$0$5,859,453
91$8,282,111$0$0$6,359,205
92$8,993,254$0$0$6,906,848
93$9,772,724$0$0$7,507,168
94$10,627,358$0$0$8,165,441
95$11,564,686$0$0$8,887,471
96$12,593,001$0$0$9,679,658
97$13,721,439$0$0$10,549,046
98$14,960,063$0$0$11,503,396
99$16,319,955$0$0$12,551,258
100$17,813,327$0$0$13,702,049