Can I retire at age 56 with 783,000?

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 $783,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$64,659$64,083$63,522$62,973$62,438$60,780
2 years$32,010$31,413$30,836$30,276$29,732$28,074
3 years$21,128$20,529$19,953$19,398$18,863$17,256
4 years$15,688$15,091$14,520$13,975$13,453$11,910
5 years$12,425$11,832$11,268$10,734$10,227$8,751
6 years$10,250$9,661$9,107$8,584$8,092$6,685
7 years$8,697$8,114$7,568$7,058$6,581$5,243
8 years$7,533$6,955$6,418$5,920$5,460$4,191
9 years$6,629$6,055$5,528$5,043$4,598$3,396
10 years$5,905$5,338$4,819$4,347$3,918$2,782
11 years$5,314$4,752$4,243$3,783$3,369$2,297
12 years$4,821$4,265$3,765$3,318$2,920$1,910
13 years$4,404$3,854$3,364$2,930$2,546$1,596
14 years$4,048$3,503$3,023$2,601$2,232$1,340
15 years$3,739$3,200$2,729$2,319$1,965$1,129
16 years$3,469$2,936$2,474$2,077$1,737$954
17 years$3,231$2,704$2,252$1,866$1,540$808
18 years$3,020$2,499$2,055$1,682$1,369$686
19 years$2,831$2,316$1,882$1,519$1,220$583
20 years$2,661$2,152$1,727$1,376$1,090$496
21 years$2,508$2,005$1,588$1,249$976$423
22 years$2,369$1,871$1,464$1,136$874$361
23 years$2,242$1,750$1,352$1,034$785$308
24 years$2,125$1,640$1,250$943$706$263
25 years$2,019$1,539$1,158$861$635$225
26 years$1,920$1,446$1,074$788$572$193
27 years$1,829$1,361$997$721$516$165
28 years$1,745$1,283$927$661$465$141
29 years$1,667$1,210$863$606$420$121
30 years$1,594$1,143$803$556$380$104
31 years$1,526$1,080$749$511$343$89
32 years$1,462$1,022$699$469$310$76
33 years$1,402$968$653$431$281$65
34 years$1,346$917$610$397$254$56
35 years$1,293$870$570$365$230$48
36 years$1,244$826$533$337$209$41
37 years$1,197$784$499$310$189$35
38 years$1,152$745$467$286$172$30
39 years$1,110$709$438$264$156$26
40 years$1,070$674$410$243$141$22
41 years$1,033$642$385$224$128$19
42 years$997$611$361$207$116$16
43 years$963$583$339$191$105$14
44 years$930$555$318$176$96$12
45 years$899$529$299$163$87$10
46 years$870$505$280$150$79$9
47 years$842$482$263$139$72$8
48 years$815$460$248$128$65$7
49 years$789$439$233$119$59$6
50 years$764$420$219$110$54$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $783,000, adding $6,872 every year, while hoping to spend $51,874 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: 51/34/15 Blend
55$783,000$783,000$783,000$783,000
56$869,954$828,455$816,319$910,436
57$903,496$813,856$788,472$924,354
58$938,721$796,803$757,954$933,466
59$975,745$777,121$724,620$942,219
60$1,014,695$754,625$688,319$950,595
61$1,055,711$729,118$648,894$958,578
62$1,098,942$700,393$606,181$966,153
63$1,144,552$668,230$560,006$973,307
64$1,192,720$632,397$510,190$980,030
65$1,243,641$592,648$456,545$986,315
66$1,297,528$548,724$398,875$992,158
67$1,354,613$500,348$336,974$997,561
68$1,415,150$447,232$270,629$1,002,529
69$1,479,416$389,067$199,616$1,007,074
70$1,547,715$325,530$123,702$1,011,215
71$1,620,379$256,277$42,642$1,014,980
72$1,697,770$180,947$0$1,018,403
73$1,780,287$99,158$0$1,028,550
74$1,868,364$10,505$0$1,046,201
75$1,962,480$0$0$1,064,637
76$2,063,158$0$0$1,115,959
77$2,170,970$0$0$1,175,179
78$2,286,547$0$0$1,238,719
79$2,410,577$0$0$1,306,967
80$2,543,819$0$0$1,380,345
81$2,687,104$0$0$1,459,320
82$2,841,344$0$0$1,544,403
83$3,007,541$0$0$1,636,155
84$3,186,797$0$0$1,735,195
85$3,380,319$0$0$1,842,199
86$3,589,438$0$0$1,957,914
87$3,815,613$0$0$2,083,157
88$4,060,450$0$0$2,218,829
89$4,325,713$0$0$2,365,920
90$4,613,342$0$0$2,525,520
91$4,925,471$0$0$2,698,823
92$5,264,447$0$0$2,887,149
93$5,632,850$0$0$3,091,944
94$6,033,521$0$0$3,314,803
95$6,469,583$0$0$3,557,480
96$6,944,473$0$0$3,821,903
97$7,461,975$0$0$4,110,197
98$8,026,250$0$0$4,424,698
99$8,641,881$0$0$4,767,979
100$9,313,910$0$0$5,142,872