Can I retire at age 56 with 773,000?

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 $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%17.4%
1 years$63,834$63,265$62,710$62,169$61,640$59,787
2 years$31,601$31,012$30,442$29,889$29,352$27,501
3 years$20,858$20,267$19,698$19,150$18,622$16,831
4 years$15,488$14,898$14,335$13,797$13,282$11,563
5 years$12,266$11,680$11,125$10,597$10,096$8,456
6 years$10,119$9,538$8,990$8,475$7,989$6,429
7 years$8,586$8,010$7,471$6,967$6,497$5,016
8 years$7,437$6,866$6,336$5,845$5,390$3,988
9 years$6,544$5,978$5,457$4,978$4,539$3,214
10 years$5,830$5,269$4,758$4,291$3,868$2,618
11 years$5,246$4,691$4,189$3,735$3,326$2,150
12 years$4,759$4,210$3,717$3,276$2,882$1,777
13 years$4,348$3,805$3,321$2,892$2,514$1,476
14 years$3,996$3,459$2,984$2,567$2,203$1,231
15 years$3,691$3,160$2,694$2,290$1,940$1,031
16 years$3,425$2,899$2,443$2,050$1,715$865
17 years$3,190$2,670$2,223$1,842$1,520$728
18 years$2,981$2,467$2,029$1,660$1,352$614
19 years$2,795$2,286$1,858$1,500$1,205$518
20 years$2,627$2,125$1,705$1,359$1,076$438
21 years$2,476$1,979$1,568$1,233$963$371
22 years$2,338$1,847$1,445$1,121$863$314
23 years$2,213$1,728$1,334$1,021$775$267
24 years$2,098$1,619$1,234$931$697$226
25 years$1,993$1,519$1,143$850$627$192
26 years$1,896$1,428$1,060$778$565$163
27 years$1,806$1,344$984$712$509$139
28 years$1,723$1,266$915$652$459$118
29 years$1,646$1,194$852$598$415$100
30 years$1,573$1,128$793$549$375$85
31 years$1,506$1,066$739$504$339$73
32 years$1,443$1,009$690$463$306$62
33 years$1,384$956$644$426$277$53
34 years$1,329$906$602$392$251$45
35 years$1,277$859$563$361$227$38
36 years$1,228$815$526$332$206$32
37 years$1,181$774$493$306$187$28
38 years$1,138$736$461$282$169$23
39 years$1,096$700$432$260$154$20
40 years$1,057$666$405$240$139$17
41 years$1,020$634$380$221$126$14
42 years$984$604$356$204$115$12
43 years$950$575$334$189$104$11
44 years$918$548$314$174$94$9
45 years$888$523$295$161$86$8
46 years$859$499$277$149$78$6
47 years$831$476$260$137$71$6
48 years$804$454$244$127$64$5
49 years$779$434$230$117$58$4
50 years$755$414$216$108$53$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $773,000, adding $2,370 every year, while hoping to spend $36,097 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: 32/41/27 Blend
55$773,000$773,000$773,000$773,000
56$854,291$813,322$801,340$874,518
57$903,021$814,767$789,778$891,621
58$955,513$815,074$776,619$906,666
59$1,012,110$814,148$761,771$922,160
60$1,073,194$811,890$745,138$938,168
61$1,139,180$808,193$726,621$954,762
62$1,210,527$802,945$706,113$972,027
63$1,287,739$796,027$683,506$990,058
64$1,371,369$787,313$658,684$1,008,965
65$1,462,026$776,669$631,528$1,028,872
66$1,560,379$763,953$601,911$1,049,917
67$1,667,166$749,014$569,703$1,072,261
68$1,783,195$731,694$534,766$1,096,081
69$1,909,357$711,823$496,956$1,121,579
70$2,046,632$689,223$456,125$1,148,983
71$2,196,099$663,705$412,116$1,178,547
72$2,358,944$635,070$364,765$1,210,559
73$2,536,472$603,104$313,900$1,245,340
74$2,730,121$567,586$259,345$1,283,252
75$2,941,473$528,277$200,913$1,324,698
76$3,172,269$484,927$138,408$1,370,130
77$3,424,424$437,273$71,629$1,420,055
78$3,700,050$385,034$364$1,475,037
79$4,001,469$327,915$0$1,535,706
80$4,331,240$265,603$0$1,624,572
81$4,692,178$197,769$0$1,722,142
82$5,087,385$124,065$0$1,829,255
83$5,520,276$44,122$0$1,946,957
84$5,994,613$0$0$2,076,405
85$6,514,537$0$0$2,238,035
86$7,084,610$0$0$2,437,200
87$7,709,856$0$0$2,655,761
88$8,395,810$0$0$2,895,670
89$9,148,567$0$0$3,159,074
90$9,974,841$0$0$3,448,339
91$10,882,029$0$0$3,766,070
92$11,878,277$0$0$4,115,139
93$12,972,560$0$0$4,498,708
94$14,174,765$0$0$4,920,261
95$15,495,784$0$0$5,383,638
96$16,947,615$0$0$5,893,067
97$18,543,478$0$0$6,453,206
98$20,297,936$0$0$7,069,190
99$22,227,033$0$0$7,746,674
100$24,348,448$0$0$8,491,889