Can I retire at age 56 with 785,000?

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 $785,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$64,825$64,247$63,684$63,134$62,597$60,813
2 years$32,091$31,494$30,914$30,353$29,808$28,024
3 years$21,182$20,581$20,004$19,447$18,911$17,184
4 years$15,728$15,130$14,558$14,011$13,488$11,830
5 years$12,457$11,862$11,297$10,762$10,253$8,670
6 years$10,276$9,686$9,130$8,606$8,113$6,605
7 years$8,720$8,134$7,587$7,076$6,598$5,166
8 years$7,553$6,973$6,434$5,936$5,474$4,116
9 years$6,646$6,071$5,542$5,056$4,610$3,326
10 years$5,920$5,351$4,832$4,358$3,928$2,716
11 years$5,327$4,764$4,254$3,793$3,378$2,236
12 years$4,833$4,276$3,775$3,327$2,927$1,853
13 years$4,416$3,864$3,373$2,937$2,553$1,543
14 years$4,058$3,512$3,030$2,607$2,238$1,291
15 years$3,749$3,209$2,736$2,325$1,970$1,084
16 years$3,478$2,944$2,481$2,082$1,741$912
17 years$3,239$2,711$2,257$1,871$1,544$770
18 years$3,027$2,505$2,061$1,686$1,373$651
19 years$2,838$2,322$1,886$1,523$1,224$551
20 years$2,668$2,158$1,731$1,380$1,093$468
21 years$2,514$2,010$1,592$1,252$978$397
22 years$2,375$1,876$1,468$1,138$877$338
23 years$2,247$1,755$1,355$1,037$787$287
24 years$2,131$1,644$1,253$946$707$244
25 years$2,024$1,543$1,161$864$636$208
26 years$1,925$1,450$1,077$790$573$177
27 years$1,834$1,365$1,000$723$517$151
28 years$1,750$1,286$929$662$466$129
29 years$1,671$1,213$865$607$421$110
30 years$1,598$1,146$806$557$381$94
31 years$1,530$1,083$751$512$344$80
32 years$1,466$1,025$701$470$311$68
33 years$1,406$970$654$433$282$58
34 years$1,350$920$611$398$255$50
35 years$1,297$872$571$366$231$43
36 years$1,247$828$535$337$209$36
37 years$1,200$786$500$311$190$31
38 years$1,155$747$469$287$172$27
39 years$1,113$711$439$264$156$23
40 years$1,073$676$411$244$141$19
41 years$1,035$644$386$225$128$17
42 years$999$613$362$208$116$14
43 years$965$584$340$192$106$12
44 years$933$557$319$177$96$10
45 years$902$531$299$163$87$9
46 years$872$506$281$151$79$8
47 years$844$483$264$139$72$6
48 years$817$461$248$129$65$6
49 years$791$441$233$119$59$5
50 years$766$421$219$110$54$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $785,000, adding $4,134 every year, while hoping to spend $29,803 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: 49/30/21 Blend
55$785,000$785,000$785,000$785,000
56$869,334$827,729$815,562$906,609
57$926,296$836,578$811,173$941,779
58$988,069$844,861$805,638$976,613
59$1,055,113$852,520$798,888$1,013,834
60$1,127,932$859,491$790,848$1,053,680
61$1,207,083$865,708$781,443$1,096,414
62$1,293,176$871,098$770,592$1,142,325
63$1,386,885$875,587$758,212$1,191,735
64$1,488,948$879,091$744,213$1,244,998
65$1,600,181$881,527$728,504$1,302,508
66$1,721,479$882,802$710,989$1,364,698
67$1,853,830$882,819$691,567$1,432,049
68$1,998,318$881,474$670,131$1,505,092
69$2,156,139$878,659$646,573$1,584,414
70$2,328,608$874,256$620,777$1,670,664
71$2,517,174$868,143$592,621$1,764,559
72$2,723,432$860,189$561,980$1,866,891
73$2,949,138$850,254$528,722$1,978,537
74$3,196,226$838,191$492,710$2,100,465
75$3,466,823$823,845$453,798$2,233,744
76$3,763,277$807,051$411,838$2,379,556
77$4,088,167$787,633$366,671$2,539,206
78$4,444,340$765,406$318,133$2,714,136
79$4,834,925$740,174$266,054$2,905,938
80$5,263,375$711,730$210,254$3,116,372
81$5,733,488$679,853$150,546$3,347,379
82$6,249,450$644,312$86,735$3,601,105
83$6,815,871$604,860$18,618$3,879,918
84$7,437,829$561,238$0$4,186,431
85$8,120,920$513,171$0$4,535,648
86$8,871,306$460,369$0$4,923,878
87$9,695,775$402,523$0$5,350,514
88$10,601,808$339,310$0$5,819,493
89$11,597,644$270,388$0$6,335,155
90$12,692,360$195,393$0$6,902,287
91$13,895,957$113,944$0$7,526,170
92$15,219,454$25,637$0$8,212,625
93$16,674,990$0$0$8,968,073
94$18,275,941$0$0$9,822,687
95$20,037,041$0$0$10,772,198
96$21,974,528$0$0$11,816,909
97$24,106,290$0$0$12,966,478
98$26,452,038$0$0$14,231,546
99$29,033,490$0$0$15,623,840
100$31,874,576$0$0$17,156,279