Can I retire at age 56 with 773,000?

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 $773,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$63,834$63,265$62,710$62,169$61,640$59,194
2 years$31,601$31,012$30,442$29,889$29,352$26,919
3 years$20,858$20,267$19,698$19,150$18,622$16,277
4 years$15,488$14,898$14,335$13,797$13,282$11,043
5 years$12,266$11,680$11,125$10,597$10,096$7,970
6 years$10,119$9,538$8,990$8,475$7,989$5,976
7 years$8,586$8,010$7,471$6,967$6,497$4,597
8 years$7,437$6,866$6,336$5,845$5,390$3,601
9 years$6,544$5,978$5,457$4,978$4,539$2,858
10 years$5,830$5,269$4,758$4,291$3,868$2,292
11 years$5,246$4,691$4,189$3,735$3,326$1,851
12 years$4,759$4,210$3,717$3,276$2,882$1,505
13 years$4,348$3,805$3,321$2,892$2,514$1,229
14 years$3,996$3,459$2,984$2,567$2,203$1,008
15 years$3,691$3,160$2,694$2,290$1,940$829
16 years$3,425$2,899$2,443$2,050$1,715$683
17 years$3,190$2,670$2,223$1,842$1,520$564
18 years$2,981$2,467$2,029$1,660$1,352$467
19 years$2,795$2,286$1,858$1,500$1,205$387
20 years$2,627$2,125$1,705$1,359$1,076$321
21 years$2,476$1,979$1,568$1,233$963$266
22 years$2,338$1,847$1,445$1,121$863$221
23 years$2,213$1,728$1,334$1,021$775$184
24 years$2,098$1,619$1,234$931$697$153
25 years$1,993$1,519$1,143$850$627$127
26 years$1,896$1,428$1,060$778$565$106
27 years$1,806$1,344$984$712$509$88
28 years$1,723$1,266$915$652$459$74
29 years$1,646$1,194$852$598$415$61
30 years$1,573$1,128$793$549$375$51
31 years$1,506$1,066$739$504$339$43
32 years$1,443$1,009$690$463$306$35
33 years$1,384$956$644$426$277$30
34 years$1,329$906$602$392$251$25
35 years$1,277$859$563$361$227$21
36 years$1,228$815$526$332$206$17
37 years$1,181$774$493$306$187$14
38 years$1,138$736$461$282$169$12
39 years$1,096$700$432$260$154$10
40 years$1,057$666$405$240$139$8
41 years$1,020$634$380$221$126$7
42 years$984$604$356$204$115$6
43 years$950$575$334$189$104$5
44 years$918$548$314$174$94$4
45 years$888$523$295$161$86$3
46 years$859$499$277$149$78$3
47 years$831$476$260$137$71$2
48 years$804$454$244$127$64$2
49 years$779$434$230$117$58$2
50 years$755$414$216$108$53$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $773,000, adding $4,949 every year, while hoping to spend $30,935 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: 82/8/10 Blend
55$773,000$773,000$773,000$773,000
56$856,951$815,982$804,000$925,482
57$911,445$823,050$798,020$978,156
58$970,461$829,428$790,802$1,031,369
59$1,034,427$835,050$782,273$1,088,859
60$1,103,815$839,843$772,355$1,151,038
61$1,179,142$843,733$760,967$1,218,360
62$1,260,979$846,641$748,024$1,291,324
63$1,349,952$848,480$733,436$1,370,480
64$1,446,752$849,160$717,111$1,456,436
65$1,552,138$848,585$698,951$1,549,858
66$1,666,943$846,654$678,853$1,651,483
67$1,792,089$843,257$656,712$1,762,121
68$1,928,585$838,279$632,415$1,882,664
69$2,077,546$831,600$605,846$2,014,097
70$2,240,196$823,089$576,883$2,157,503
71$2,417,885$812,610$545,397$2,314,078
72$2,612,098$800,016$511,256$2,485,136
73$2,824,469$785,154$474,321$2,672,129
74$3,056,799$767,861$434,445$2,876,655
75$3,311,071$747,964$391,477$3,100,474
76$3,589,466$725,280$345,257$3,345,527
77$3,894,388$699,616$295,620$3,613,953
78$4,228,485$670,766$242,393$3,908,110
79$4,594,671$638,514$185,393$4,230,593
80$4,996,157$602,631$124,433$4,584,266
81$5,436,478$562,873$59,315$4,972,284
82$5,919,529$518,984$0$5,398,123
83$6,449,601$470,694$0$5,866,701
84$7,031,417$417,715$0$6,387,979
85$7,670,184$359,745$0$6,960,299
86$8,371,634$296,464$0$7,588,816
87$9,142,083$227,533$0$8,279,208
88$9,988,489$152,596$0$9,037,733
89$10,918,516$71,275$0$9,871,285
90$11,940,610$0$0$10,787,461
91$13,064,071$0$0$11,796,113
92$14,299,150$0$0$12,911,893
93$15,657,137$0$0$14,138,728
94$17,150,471$0$0$15,487,860
95$18,792,860$0$0$16,971,673
96$20,599,403$0$0$18,603,813
97$22,586,738$0$0$20,399,314
98$24,773,196$0$0$22,374,739
99$27,178,975$0$0$24,548,342
100$29,826,330$0$0$26,940,229