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%12.4%
1 years$64,742$64,165$63,603$63,053$62,517$61,890
2 years$32,050$31,454$30,875$30,314$29,770$29,138
3 years$21,155$20,555$19,978$19,423$18,887$18,271
4 years$15,708$15,110$14,539$13,993$13,471$12,874
5 years$12,441$11,847$11,283$10,748$10,240$9,665
6 years$10,263$9,674$9,118$8,595$8,103$7,550
7 years$8,709$8,124$7,577$7,067$6,590$6,059
8 years$7,543$6,964$6,426$5,928$5,467$4,959
9 years$6,637$6,063$5,535$5,049$4,604$4,118
10 years$5,913$5,344$4,825$4,353$3,923$3,459
11 years$5,320$4,758$4,248$3,788$3,374$2,932
12 years$4,827$4,270$3,770$3,323$2,924$2,503
13 years$4,410$3,859$3,368$2,933$2,549$2,149
14 years$4,053$3,508$3,027$2,604$2,235$1,855
15 years$3,744$3,204$2,733$2,322$1,968$1,607
16 years$3,473$2,940$2,477$2,079$1,739$1,398
17 years$3,235$2,708$2,254$1,868$1,542$1,219
18 years$3,024$2,502$2,058$1,684$1,371$1,066
19 years$2,835$2,319$1,884$1,521$1,222$934
20 years$2,665$2,155$1,729$1,378$1,092$820
21 years$2,511$2,007$1,590$1,250$977$721
22 years$2,372$1,874$1,466$1,137$876$635
23 years$2,244$1,752$1,353$1,035$786$560
24 years$2,128$1,642$1,252$944$706$494
25 years$2,021$1,541$1,159$862$636$436
26 years$1,923$1,448$1,075$789$573$386
27 years$1,832$1,363$998$722$516$341
28 years$1,747$1,284$928$661$466$302
29 years$1,669$1,211$864$606$421$268
30 years$1,596$1,144$805$557$380$237
31 years$1,528$1,082$750$511$344$210
32 years$1,464$1,023$700$470$311$187
33 years$1,404$969$653$432$281$166
34 years$1,348$919$610$397$255$147
35 years$1,295$871$571$366$231$130
36 years$1,245$827$534$337$209$116
37 years$1,198$785$500$311$189$103
38 years$1,154$746$468$286$172$91
39 years$1,112$710$438$264$156$81
40 years$1,072$675$411$243$141$72
41 years$1,034$643$385$225$128$64
42 years$998$612$361$207$116$57
43 years$964$583$339$191$106$51
44 years$932$556$318$177$96$45
45 years$901$530$299$163$87$40
46 years$871$506$281$151$79$36
47 years$843$483$264$139$72$32
48 years$816$461$248$129$65$28
49 years$790$440$233$119$59$25
50 years$765$420$219$110$54$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $784,000, adding $6,247 every year, while hoping to spend $55,167 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: 69/13/18 Blend
55$784,000$784,000$784,000$784,000
56$870,412$828,860$816,708$926,274
57$900,497$810,777$785,370$946,247
58$931,801$789,958$751,134$960,995
59$964,391$766,213$713,843$975,758
60$998,338$739,337$673,337$990,533
61$1,033,719$709,114$629,443$1,005,317
62$1,070,615$675,318$581,987$1,020,108
63$1,109,116$637,706$530,781$1,034,907
64$1,149,316$596,024$475,633$1,049,716
65$1,191,320$550,003$416,340$1,064,538
66$1,235,238$499,357$352,691$1,079,382
67$1,281,192$443,785$284,465$1,094,256
68$1,329,311$382,968$211,433$1,109,175
69$1,379,739$316,571$133,354$1,124,154
70$1,432,627$244,238$49,976$1,139,216
71$1,488,142$165,593$0$1,154,388
72$1,546,466$80,241$0$1,177,194
73$1,607,795$0$0$1,210,912
74$1,672,343$0$0$1,247,786
75$1,740,341$0$0$1,298,740
76$1,812,044$0$0$1,352,488
77$1,887,728$0$0$1,409,238
78$1,967,694$0$0$1,469,218
79$2,052,270$0$0$1,532,678
80$2,141,814$0$0$1,599,889
81$2,236,719$0$0$1,671,149
82$2,337,411$0$0$1,746,781
83$2,444,360$0$0$1,827,140
84$2,558,076$0$0$1,912,615
85$2,679,120$0$0$2,003,631
86$2,808,103$0$0$2,100,652
87$2,945,698$0$0$2,204,187
88$3,092,640$0$0$2,314,795
89$3,249,734$0$0$2,433,087
90$3,417,863$0$0$2,559,734
91$3,597,996$0$0$2,695,471
92$3,791,195$0$0$2,841,104
93$3,998,626$0$0$2,997,518
94$4,221,567$0$0$3,165,685
95$4,461,424$0$0$3,346,672
96$4,719,738$0$0$3,541,649
97$4,998,202$0$0$3,751,902
98$5,298,677$0$0$3,978,845
99$5,623,205$0$0$4,224,030
100$5,974,034$0$0$4,489,164