Can I retire at age 56 with 774,000?

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 $774,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$63,916$63,347$62,791$62,249$61,720$60,057
2 years$31,642$31,052$30,481$29,928$29,390$27,727
3 years$20,885$20,293$19,723$19,175$18,646$17,035
4 years$15,508$14,918$14,354$13,814$13,299$11,751
5 years$12,282$11,696$11,139$10,611$10,110$8,630
6 years$10,132$9,550$9,002$8,486$7,999$6,589
7 years$8,597$8,020$7,481$6,976$6,506$5,165
8 years$7,447$6,875$6,344$5,852$5,397$4,126
9 years$6,552$5,986$5,464$4,985$4,545$3,341
10 years$5,837$5,276$4,764$4,297$3,873$2,735
11 years$5,253$4,697$4,194$3,740$3,331$2,258
12 years$4,766$4,216$3,722$3,280$2,886$1,876
13 years$4,354$3,810$3,325$2,896$2,517$1,567
14 years$4,001$3,463$2,988$2,571$2,206$1,314
15 years$3,696$3,164$2,698$2,293$1,943$1,106
16 years$3,429$2,903$2,446$2,053$1,717$934
17 years$3,194$2,673$2,226$1,844$1,522$791
18 years$2,985$2,470$2,032$1,662$1,354$670
19 years$2,798$2,289$1,860$1,502$1,206$570
20 years$2,631$2,127$1,707$1,360$1,078$485
21 years$2,479$1,981$1,570$1,235$964$413
22 years$2,341$1,850$1,447$1,122$864$352
23 years$2,216$1,730$1,336$1,022$776$300
24 years$2,101$1,621$1,236$932$697$256
25 years$1,995$1,521$1,144$851$628$219
26 years$1,898$1,430$1,061$779$565$187
27 years$1,808$1,345$986$713$510$160
28 years$1,725$1,268$916$653$460$137
29 years$1,648$1,196$853$599$415$117
30 years$1,576$1,129$794$550$375$100
31 years$1,508$1,068$740$505$339$86
32 years$1,445$1,010$691$464$307$74
33 years$1,386$957$645$427$278$63
34 years$1,331$907$603$392$251$54
35 years$1,278$860$563$361$228$46
36 years$1,229$816$527$333$206$40
37 years$1,183$775$493$307$187$34
38 years$1,139$737$462$283$170$29
39 years$1,098$701$433$261$154$25
40 years$1,058$667$406$240$139$21
41 years$1,021$635$380$222$127$18
42 years$985$604$357$205$115$16
43 years$952$576$335$189$104$14
44 years$920$549$314$174$95$12
45 years$889$523$295$161$86$10
46 years$860$499$277$149$78$9
47 years$832$476$260$137$71$7
48 years$805$455$245$127$64$6
49 years$780$434$230$117$58$5
50 years$756$415$216$108$53$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $774,000, adding $3,912 every year, while hoping to spend $34,430 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: 39/49/12 Blend
55$774,000$774,000$774,000$774,000
56$856,983$815,961$803,964$887,160
57$907,762$819,310$794,264$912,260
58$962,567$821,669$783,084$935,719
59$1,021,771$822,953$770,340$960,324
60$1,085,786$823,073$755,941$986,195
61$1,155,065$821,932$739,794$1,013,466
62$1,230,103$819,428$721,799$1,042,286
63$1,311,448$815,454$701,853$1,072,822
64$1,399,701$809,896$679,850$1,105,259
65$1,495,521$802,632$655,675$1,139,806
66$1,599,636$793,532$629,212$1,176,694
67$1,712,845$782,462$600,337$1,216,181
68$1,836,028$769,275$568,921$1,258,555
69$1,970,152$753,819$534,830$1,304,136
70$2,116,283$735,932$497,922$1,353,282
71$2,275,592$715,441$458,051$1,406,390
72$2,449,370$692,165$415,062$1,463,901
73$2,639,035$665,910$368,797$1,526,307
74$2,846,151$636,474$319,085$1,594,154
75$3,072,437$603,640$265,754$1,668,049
76$3,319,788$567,181$208,619$1,748,666
77$3,590,289$526,855$147,490$1,836,754
78$3,886,235$482,408$82,168$1,933,143
79$4,210,154$433,569$12,444$2,038,757
80$4,564,830$380,054$0$2,154,617
81$4,953,328$321,562$0$2,289,793
82$5,379,024$257,775$0$2,439,825
83$5,845,635$188,357$0$2,604,542
84$6,357,256$112,952$0$2,785,522
85$6,918,396$31,187$0$2,984,511
86$7,534,022$0$0$3,203,440
87$8,209,606$0$0$3,475,359
88$8,951,173$0$0$3,792,401
89$9,765,363$0$0$4,140,602
90$10,659,486$0$0$4,523,104
91$11,641,599$0$0$4,943,365
92$12,720,574$0$0$5,405,198
93$13,906,189$0$0$5,912,803
94$15,209,212$0$0$6,470,807
95$16,641,508$0$0$7,084,306
96$18,216,148$0$0$7,758,917
97$19,947,534$0$0$8,500,826
98$21,851,531$0$0$9,316,851
99$23,945,620$0$0$10,214,502
100$26,249,061$0$0$11,202,054