Can I retire at age 56 with 784,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.5%
1 years$64,742$64,165$63,603$63,053$62,517$61,608
2 years$32,050$31,454$30,875$30,314$29,770$28,856
3 years$21,155$20,555$19,978$19,423$18,887$17,997
4 years$15,708$15,110$14,539$13,993$13,471$12,611
5 years$12,441$11,847$11,283$10,748$10,240$9,413
6 years$10,263$9,674$9,118$8,595$8,103$7,310
7 years$8,709$8,124$7,577$7,067$6,590$5,831
8 years$7,543$6,964$6,426$5,928$5,467$4,742
9 years$6,637$6,063$5,535$5,049$4,604$3,912
10 years$5,913$5,344$4,825$4,353$3,923$3,264
11 years$5,320$4,758$4,248$3,788$3,374$2,748
12 years$4,827$4,270$3,770$3,323$2,924$2,329
13 years$4,410$3,859$3,368$2,933$2,549$1,986
14 years$4,053$3,508$3,027$2,604$2,235$1,702
15 years$3,744$3,204$2,733$2,322$1,968$1,464
16 years$3,473$2,940$2,477$2,079$1,739$1,263
17 years$3,235$2,708$2,254$1,868$1,542$1,093
18 years$3,024$2,502$2,058$1,684$1,371$948
19 years$2,835$2,319$1,884$1,521$1,222$824
20 years$2,665$2,155$1,729$1,378$1,092$718
21 years$2,511$2,007$1,590$1,250$977$626
22 years$2,372$1,874$1,466$1,137$876$547
23 years$2,244$1,752$1,353$1,035$786$478
24 years$2,128$1,642$1,252$944$706$418
25 years$2,021$1,541$1,159$862$636$366
26 years$1,923$1,448$1,075$789$573$321
27 years$1,832$1,363$998$722$516$282
28 years$1,747$1,284$928$661$466$247
29 years$1,669$1,211$864$606$421$217
30 years$1,596$1,144$805$557$380$191
31 years$1,528$1,082$750$511$344$167
32 years$1,464$1,023$700$470$311$147
33 years$1,404$969$653$432$281$129
34 years$1,348$919$610$397$255$114
35 years$1,295$871$571$366$231$100
36 years$1,245$827$534$337$209$88
37 years$1,198$785$500$311$189$77
38 years$1,154$746$468$286$172$68
39 years$1,112$710$438$264$156$60
40 years$1,072$675$411$243$141$53
41 years$1,034$643$385$225$128$47
42 years$998$612$361$207$116$41
43 years$964$583$339$191$106$36
44 years$932$556$318$177$96$32
45 years$901$530$299$163$87$28
46 years$871$506$281$151$79$25
47 years$843$483$264$139$72$22
48 years$816$461$248$129$65$19
49 years$790$440$233$119$59$17
50 years$765$420$219$110$54$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $784,000, adding $2,447 every year, while hoping to spend $55,213 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: 72/14/14 Blend
55$784,000$784,000$784,000$784,000
56$866,492$824,940$812,788$926,048
57$896,128$806,616$781,270$947,518
58$926,936$785,543$746,846$964,045
59$958,978$761,530$709,360$980,680
60$992,320$734,370$668,649$997,422
61$1,027,031$703,849$624,543$1,014,272
62$1,063,188$669,737$576,865$1,031,230
63$1,100,872$631,793$525,429$1,048,299
64$1,140,171$589,761$470,041$1,065,483
65$1,181,179$543,370$410,498$1,082,787
66$1,223,998$492,334$346,589$1,100,221
67$1,268,738$436,351$278,092$1,117,796
68$1,315,519$375,101$204,777$1,135,525
69$1,364,468$308,248$126,404$1,153,426
70$1,415,726$235,433$42,720$1,171,523
71$1,469,442$156,282$0$1,189,840
72$1,525,781$70,395$0$1,215,369
73$1,584,919$0$0$1,248,452
74$1,647,050$0$0$1,286,276
75$1,712,383$0$0$1,337,467
76$1,781,147$0$0$1,391,358
77$1,853,588$0$0$1,448,147
78$1,929,977$0$0$1,508,047
79$2,010,609$0$0$1,571,290
80$2,095,804$0$0$1,638,131
81$2,185,913$0$0$1,708,847
82$2,281,317$0$0$1,783,740
83$2,382,434$0$0$1,863,140
84$2,489,721$0$0$1,947,410
85$2,603,676$0$0$2,036,943
86$2,724,844$0$0$2,132,172
87$2,853,822$0$0$2,233,569
88$2,991,265$0$0$2,341,652
89$3,137,886$0$0$2,456,987
90$3,294,470$0$0$2,580,196
91$3,461,877$0$0$2,711,959
92$3,641,047$0$0$2,853,023
93$3,833,013$0$0$3,004,205
94$4,038,908$0$0$3,166,403
95$4,259,975$0$0$3,340,602
96$4,497,577$0$0$3,527,882
97$4,753,211$0$0$3,729,432
98$5,028,522$0$0$3,946,553
99$5,325,315$0$0$4,180,677
100$5,645,573$0$0$4,433,377