Can I retire at age 56 with 784,000?

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 $784,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$64,742$64,165$63,603$63,053$62,517$61,968
2 years$32,050$31,454$30,875$30,314$29,770$29,216
3 years$21,155$20,555$19,978$19,423$18,887$18,346
4 years$15,708$15,110$14,539$13,993$13,471$12,947
5 years$12,441$11,847$11,283$10,748$10,240$9,735
6 years$10,263$9,674$9,118$8,595$8,103$7,617
7 years$8,709$8,124$7,577$7,067$6,590$6,123
8 years$7,543$6,964$6,426$5,928$5,467$5,020
9 years$6,637$6,063$5,535$5,049$4,604$4,176
10 years$5,913$5,344$4,825$4,353$3,923$3,514
11 years$5,320$4,758$4,248$3,788$3,374$2,984
12 years$4,827$4,270$3,770$3,323$2,924$2,552
13 years$4,410$3,859$3,368$2,933$2,549$2,196
14 years$4,053$3,508$3,027$2,604$2,235$1,899
15 years$3,744$3,204$2,733$2,322$1,968$1,649
16 years$3,473$2,940$2,477$2,079$1,739$1,437
17 years$3,235$2,708$2,254$1,868$1,542$1,256
18 years$3,024$2,502$2,058$1,684$1,371$1,100
19 years$2,835$2,319$1,884$1,521$1,222$966
20 years$2,665$2,155$1,729$1,378$1,092$850
21 years$2,511$2,007$1,590$1,250$977$749
22 years$2,372$1,874$1,466$1,137$876$661
23 years$2,244$1,752$1,353$1,035$786$584
24 years$2,128$1,642$1,252$944$706$517
25 years$2,021$1,541$1,159$862$636$458
26 years$1,923$1,448$1,075$789$573$406
27 years$1,832$1,363$998$722$516$360
28 years$1,747$1,284$928$661$466$319
29 years$1,669$1,211$864$606$421$283
30 years$1,596$1,144$805$557$380$252
31 years$1,528$1,082$750$511$344$224
32 years$1,464$1,023$700$470$311$199
33 years$1,404$969$653$432$281$177
34 years$1,348$919$610$397$255$158
35 years$1,295$871$571$366$231$140
36 years$1,245$827$534$337$209$125
37 years$1,198$785$500$311$189$111
38 years$1,154$746$468$286$172$99
39 years$1,112$710$438$264$156$88
40 years$1,072$675$411$243$141$79
41 years$1,034$643$385$225$128$70
42 years$998$612$361$207$116$62
43 years$964$583$339$191$106$56
44 years$932$556$318$177$96$50
45 years$901$530$299$163$87$44
46 years$871$506$281$151$79$39
47 years$843$483$264$139$72$35
48 years$816$461$248$129$65$31
49 years$790$440$233$119$59$28
50 years$765$420$219$110$54$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $784,000, adding $6,040 every year, while hoping to spend $35,872 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: 52/40/8 Blend
55$784,000$784,000$784,000$784,000
56$870,198$828,646$816,494$913,397
57$920,791$831,082$805,679$945,861
58$975,342$832,436$793,300$976,755
59$1,034,217$832,615$779,265$1,009,501
60$1,097,818$831,524$763,482$1,044,281
61$1,166,586$829,060$745,849$1,081,296
62$1,241,008$825,114$726,266$1,120,770
63$1,321,618$819,571$704,622$1,162,953
64$1,409,001$812,308$680,805$1,208,119
65$1,503,803$803,196$654,696$1,256,575
66$1,606,735$792,096$626,172$1,308,659
67$1,718,576$778,863$595,103$1,364,746
68$1,840,185$763,341$561,353$1,425,254
69$1,972,507$745,369$524,782$1,490,642
70$2,116,582$724,771$485,242$1,561,422
71$2,273,554$701,365$442,577$1,638,160
72$2,444,680$674,956$396,628$1,721,482
73$2,631,347$645,338$347,224$1,812,081
74$2,835,079$612,294$294,191$1,910,727
75$3,057,555$575,594$237,344$2,018,268
76$3,300,622$534,995$176,492$2,135,647
77$3,566,315$490,239$111,434$2,263,905
78$3,856,873$441,055$41,960$2,404,192
79$4,174,762$387,154$0$2,557,785
80$4,522,697$328,234$0$2,728,840
81$4,903,668$263,973$0$2,920,169
82$5,320,966$194,033$0$3,129,933
83$5,778,219$118,054$0$3,360,057
84$6,279,419$35,660$0$3,612,672
85$6,828,963$0$0$3,890,131
86$7,431,696$0$0$4,218,601
87$8,092,953$0$0$4,596,266
88$8,818,609$0$0$5,010,794
89$9,615,137$0$0$5,465,894
90$10,489,668$0$0$5,965,650
91$11,450,055$0$0$6,514,562
92$12,504,950$0$0$7,117,586
93$13,663,885$0$0$7,780,182
94$14,937,360$0$0$8,508,366
95$16,336,941$0$0$9,308,765
96$17,875,372$0$0$10,188,680
97$19,566,694$0$0$11,156,154
98$21,426,374$0$0$12,220,050
99$23,471,452$0$0$13,390,131
100$25,720,706$0$0$14,677,155