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%18.1%
1 years$63,916$63,347$62,791$62,249$61,720$59,696
2 years$31,642$31,052$30,481$29,928$29,390$27,371
3 years$20,885$20,293$19,723$19,175$18,646$16,695
4 years$15,508$14,918$14,354$13,814$13,299$11,430
5 years$12,282$11,696$11,139$10,611$10,110$8,328
6 years$10,132$9,550$9,002$8,486$7,999$6,307
7 years$8,597$8,020$7,481$6,976$6,506$4,902
8 years$7,447$6,875$6,344$5,852$5,397$3,881
9 years$6,552$5,986$5,464$4,985$4,545$3,114
10 years$5,837$5,276$4,764$4,297$3,873$2,526
11 years$5,253$4,697$4,194$3,740$3,331$2,064
12 years$4,766$4,216$3,722$3,280$2,886$1,698
13 years$4,354$3,810$3,325$2,896$2,517$1,404
14 years$4,001$3,463$2,988$2,571$2,206$1,166
15 years$3,696$3,164$2,698$2,293$1,943$971
16 years$3,429$2,903$2,446$2,053$1,717$811
17 years$3,194$2,673$2,226$1,844$1,522$679
18 years$2,985$2,470$2,032$1,662$1,354$569
19 years$2,798$2,289$1,860$1,502$1,206$478
20 years$2,631$2,127$1,707$1,360$1,078$402
21 years$2,479$1,981$1,570$1,235$964$339
22 years$2,341$1,850$1,447$1,122$864$285
23 years$2,216$1,730$1,336$1,022$776$241
24 years$2,101$1,621$1,236$932$697$203
25 years$1,995$1,521$1,144$851$628$171
26 years$1,898$1,430$1,061$779$565$145
27 years$1,808$1,345$986$713$510$122
28 years$1,725$1,268$916$653$460$103
29 years$1,648$1,196$853$599$415$87
30 years$1,576$1,129$794$550$375$74
31 years$1,508$1,068$740$505$339$63
32 years$1,445$1,010$691$464$307$53
33 years$1,386$957$645$427$278$45
34 years$1,331$907$603$392$251$38
35 years$1,278$860$563$361$228$32
36 years$1,229$816$527$333$206$27
37 years$1,183$775$493$307$187$23
38 years$1,139$737$462$283$170$19
39 years$1,098$701$433$261$154$16
40 years$1,058$667$406$240$139$14
41 years$1,021$635$380$222$127$12
42 years$985$604$357$205$115$10
43 years$952$576$335$189$104$8
44 years$920$549$314$174$95$7
45 years$889$523$295$161$86$6
46 years$860$499$277$149$78$5
47 years$832$476$260$137$71$4
48 years$805$455$245$127$64$4
49 years$780$434$230$117$58$3
50 years$756$415$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 $774,000, adding $3,235 every year, while hoping to spend $50,269 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: 57/30/13 Blend
55$774,000$774,000$774,000$774,000
56$856,285$815,263$803,266$902,095
57$890,140$801,725$776,689$919,916
58$925,764$785,839$747,538$933,507
59$963,283$767,436$715,672$947,136
60$1,002,837$746,340$680,946$960,815
61$1,044,576$722,360$643,207$974,559
62$1,088,665$695,298$602,297$988,388
63$1,135,284$664,943$558,049$1,002,325
64$1,184,629$631,071$510,290$1,016,401
65$1,236,913$593,446$458,837$1,030,651
66$1,292,372$551,818$403,501$1,045,118
67$1,351,259$505,922$344,084$1,059,853
68$1,413,856$455,481$280,379$1,074,917
69$1,480,468$400,198$212,170$1,090,380
70$1,551,430$339,762$139,232$1,106,324
71$1,627,109$273,843$61,329$1,122,844
72$1,707,906$202,093$0$1,140,050
73$1,794,261$124,145$0$1,161,094
74$1,886,658$39,610$0$1,192,371
75$1,985,624$0$0$1,225,567
76$2,091,740$0$0$1,278,052
77$2,205,644$0$0$1,348,470
78$2,328,032$0$0$1,424,182
79$2,459,673$0$0$1,505,669
80$2,601,408$0$0$1,593,459
81$2,754,161$0$0$1,688,131
82$2,918,949$0$0$1,790,322
83$3,096,887$0$0$1,900,732
84$3,289,201$0$0$2,020,128
85$3,497,238$0$0$2,149,358
86$3,722,481$0$0$2,289,348
87$3,966,556$0$0$2,441,122
88$4,231,256$0$0$2,605,802
89$4,518,548$0$0$2,784,623
90$4,830,598$0$0$2,978,944
91$5,169,789$0$0$3,190,260
92$5,538,742$0$0$3,420,215
93$5,940,339$0$0$3,670,620
94$6,377,754$0$0$3,943,464
95$6,854,477$0$0$4,240,939
96$7,374,350$0$0$4,565,456
97$7,941,604$0$0$4,919,671
98$8,560,892$0$0$5,306,504
99$9,237,338$0$0$5,729,173
100$9,976,585$0$0$6,191,218