Can I retire at age 56 with 780,000?

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 $780,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$64,412$63,838$63,278$62,732$62,198$60,015
2 years$31,887$31,293$30,718$30,160$29,618$27,442
3 years$21,047$20,450$19,876$19,323$18,791$16,690
4 years$15,628$15,033$14,465$13,921$13,402$11,392
5 years$12,377$11,786$11,225$10,693$10,188$8,274
6 years$10,211$9,624$9,072$8,551$8,061$6,245
7 years$8,664$8,082$7,539$7,031$6,556$4,837
8 years$7,505$6,928$6,393$5,898$5,439$3,816
9 years$6,603$6,032$5,507$5,024$4,580$3,051
10 years$5,882$5,317$4,801$4,330$3,903$2,465
11 years$5,293$4,734$4,227$3,769$3,356$2,007
12 years$4,803$4,249$3,751$3,306$2,909$1,645
13 years$4,388$3,839$3,351$2,918$2,536$1,354
14 years$4,032$3,490$3,011$2,591$2,223$1,120
15 years$3,725$3,188$2,719$2,310$1,958$929
16 years$3,456$2,925$2,465$2,069$1,730$772
17 years$3,219$2,694$2,243$1,859$1,534$644
18 years$3,008$2,489$2,047$1,675$1,364$537
19 years$2,820$2,307$1,874$1,514$1,216$449
20 years$2,651$2,144$1,720$1,371$1,086$376
21 years$2,498$1,997$1,582$1,244$972$315
22 years$2,359$1,864$1,458$1,131$871$264
23 years$2,233$1,743$1,346$1,030$782$222
24 years$2,117$1,633$1,245$940$703$186
25 years$2,011$1,533$1,153$858$632$157
26 years$1,913$1,441$1,070$785$570$132
27 years$1,822$1,356$993$718$514$111
28 years$1,738$1,278$923$658$463$93
29 years$1,660$1,205$859$603$418$78
30 years$1,588$1,138$800$554$378$66
31 years$1,520$1,076$746$509$342$55
32 years$1,456$1,018$696$467$309$47
33 years$1,397$964$650$430$280$39
34 years$1,341$914$607$395$253$33
35 years$1,288$867$568$364$229$28
36 years$1,239$823$531$335$208$23
37 years$1,192$781$497$309$188$20
38 years$1,148$743$466$285$171$17
39 years$1,106$706$436$263$155$14
40 years$1,066$672$409$242$141$12
41 years$1,029$639$383$223$127$10
42 years$993$609$360$206$116$8
43 years$959$580$337$190$105$7
44 years$927$553$317$176$95$6
45 years$896$527$297$162$87$5
46 years$867$503$279$150$79$4
47 years$839$480$262$139$71$4
48 years$812$458$247$128$65$3
49 years$786$438$232$118$59$3
50 years$762$418$218$109$53$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $780,000, adding $3,316 every year, while hoping to spend $42,824 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: 65/22/13 Blend
55$780,000$780,000$780,000$780,000
56$862,980$821,640$809,550$916,260
57$905,440$816,336$791,106$946,960
58$950,795$809,337$770,608$975,196
59$999,296$800,515$747,944$1,004,977
60$1,051,217$789,733$722,992$1,036,451
61$1,106,859$776,847$695,630$1,069,786
62$1,166,551$761,705$665,726$1,105,163
63$1,230,656$744,145$633,145$1,142,788
64$1,299,570$723,996$597,743$1,182,886
65$1,373,731$701,076$559,372$1,225,708
66$1,453,617$675,194$517,876$1,271,531
67$1,539,753$646,146$473,092$1,320,665
68$1,632,718$613,718$424,851$1,373,450
69$1,733,147$577,682$372,975$1,430,265
70$1,841,738$537,797$317,279$1,491,531
71$1,959,256$493,810$257,569$1,557,710
72$2,086,546$445,453$193,643$1,629,320
73$2,224,533$392,440$125,290$1,706,928
74$2,374,238$334,472$52,290$1,791,168
75$2,536,782$271,232$0$1,882,738
76$2,713,396$202,385$0$1,985,965
77$2,905,437$127,577$0$2,106,123
78$3,114,398$46,435$0$2,236,935
79$3,341,921$0$0$2,379,484
80$3,589,810$0$0$2,545,001
81$3,860,056$0$0$2,737,747
82$4,154,845$0$0$2,948,047
83$4,476,586$0$0$3,177,626
84$4,827,930$0$0$3,428,382
85$5,211,796$0$0$3,702,404
86$5,631,395$0$0$4,001,993
87$6,090,265$0$0$4,329,680
88$6,592,301$0$0$4,688,256
89$7,141,790$0$0$5,080,790
90$7,743,455$0$0$5,510,665
91$8,402,496$0$0$5,981,603
92$9,124,640$0$0$6,497,705
93$9,916,192$0$0$7,063,488
94$10,784,098$0$0$7,683,926
95$11,736,010$0$0$8,364,498
96$12,780,353$0$0$9,111,237
97$13,926,407$0$0$9,930,791
98$15,184,397$0$0$10,830,481
99$16,565,582$0$0$11,818,372
100$18,082,368$0$0$12,903,348