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%12.8%
1 years$64,659$64,083$63,522$62,973$62,438$61,708
2 years$32,010$31,413$30,836$30,276$29,732$28,998
3 years$21,128$20,529$19,953$19,398$18,863$18,148
4 years$15,688$15,091$14,520$13,975$13,453$12,761
5 years$12,425$11,832$11,268$10,734$10,227$9,560
6 years$10,250$9,661$9,107$8,584$8,092$7,452
7 years$8,697$8,114$7,568$7,058$6,581$5,968
8 years$7,533$6,955$6,418$5,920$5,460$4,873
9 years$6,629$6,055$5,528$5,043$4,598$4,037
10 years$5,905$5,338$4,819$4,347$3,918$3,383
11 years$5,314$4,752$4,243$3,783$3,369$2,860
12 years$4,821$4,265$3,765$3,318$2,920$2,435
13 years$4,404$3,854$3,364$2,930$2,546$2,086
14 years$4,048$3,503$3,023$2,601$2,232$1,795
15 years$3,739$3,200$2,729$2,319$1,965$1,552
16 years$3,469$2,936$2,474$2,077$1,737$1,346
17 years$3,231$2,704$2,252$1,866$1,540$1,170
18 years$3,020$2,499$2,055$1,682$1,369$1,020
19 years$2,831$2,316$1,882$1,519$1,220$892
20 years$2,661$2,152$1,727$1,376$1,090$780
21 years$2,508$2,005$1,588$1,249$976$684
22 years$2,369$1,871$1,464$1,136$874$601
23 years$2,242$1,750$1,352$1,034$785$528
24 years$2,125$1,640$1,250$943$706$464
25 years$2,019$1,539$1,158$861$635$409
26 years$1,920$1,446$1,074$788$572$360
27 years$1,829$1,361$997$721$516$318
28 years$1,745$1,283$927$661$465$281
29 years$1,667$1,210$863$606$420$248
30 years$1,594$1,143$803$556$380$219
31 years$1,526$1,080$749$511$343$193
32 years$1,462$1,022$699$469$310$171
33 years$1,402$968$653$431$281$151
34 years$1,346$917$610$397$254$134
35 years$1,293$870$570$365$230$118
36 years$1,244$826$533$337$209$105
37 years$1,197$784$499$310$189$93
38 years$1,152$745$467$286$172$82
39 years$1,110$709$438$264$156$73
40 years$1,070$674$410$243$141$64
41 years$1,033$642$385$224$128$57
42 years$997$611$361$207$116$51
43 years$963$583$339$191$105$45
44 years$930$555$318$176$96$40
45 years$899$529$299$163$87$35
46 years$870$505$280$150$79$31
47 years$842$482$263$139$72$28
48 years$815$460$248$128$65$24
49 years$789$439$233$119$59$22
50 years$764$420$219$110$54$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $783,000, adding $2,406 every year, while hoping to spend $51,095 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: 60/30/10 Blend
55$783,000$783,000$783,000$783,000
56$865,348$823,849$811,712$915,127
57$899,249$809,853$784,540$934,834
58$934,895$793,458$754,745$950,301
59$972,410$774,494$722,185$965,913
60$1,011,931$752,779$686,713$981,688
61$1,053,602$728,120$648,172$997,647
62$1,097,586$700,314$606,402$1,013,815
63$1,144,056$669,146$561,233$1,030,223
64$1,193,204$634,387$512,488$1,046,907
65$1,245,236$595,798$459,983$1,063,909
66$1,300,382$553,124$403,523$1,081,280
67$1,358,888$506,094$342,909$1,099,079
68$1,421,027$454,425$277,929$1,117,375
69$1,487,095$397,815$208,363$1,136,245
70$1,557,418$335,947$133,982$1,155,782
71$1,632,351$268,485$54,546$1,176,091
72$1,712,283$195,073$0$1,197,291
73$1,797,641$115,337$0$1,222,745
74$1,888,893$28,881$0$1,255,805
75$1,986,552$0$0$1,290,853
76$2,091,179$0$0$1,349,484
77$2,203,390$0$0$1,422,633
78$2,323,863$0$0$1,501,211
79$2,453,340$0$0$1,585,708
80$2,592,635$0$0$1,676,662
81$2,742,644$0$0$1,774,664
82$2,904,349$0$0$1,880,362
83$3,078,829$0$0$1,994,468
84$3,267,270$0$0$2,117,766
85$3,470,977$0$0$2,251,116
86$3,691,380$0$0$2,395,464
87$3,930,055$0$0$2,551,850
88$4,188,732$0$0$2,721,417
89$4,469,316$0$0$2,905,421
90$4,773,899$0$0$3,105,246
91$5,104,785$0$0$3,322,413
92$5,464,504$0$0$3,558,594
93$5,855,845$0$0$3,815,631
94$6,281,873$0$0$4,095,548
95$6,745,960$0$0$4,400,575
96$7,251,819$0$0$4,733,164
97$7,803,535$0$0$5,096,014
98$8,405,606$0$0$5,492,097
99$9,062,980$0$0$5,924,683
100$9,781,107$0$0$6,397,374