Can I retire at age 56 with 785,000?

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 $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%19.2%
1 years$64,825$64,247$63,684$63,134$62,597$60,280
2 years$32,091$31,494$30,914$30,353$29,808$27,500
3 years$21,182$20,581$20,004$19,447$18,911$16,685
4 years$15,728$15,130$14,558$14,011$13,488$11,360
5 years$12,457$11,862$11,297$10,762$10,253$8,229
6 years$10,276$9,686$9,130$8,606$8,113$6,194
7 years$8,720$8,134$7,587$7,076$6,598$4,784
8 years$7,553$6,973$6,434$5,936$5,474$3,763
9 years$6,646$6,071$5,542$5,056$4,610$3,000
10 years$5,920$5,351$4,832$4,358$3,928$2,416
11 years$5,327$4,764$4,254$3,793$3,378$1,961
12 years$4,833$4,276$3,775$3,327$2,927$1,601
13 years$4,416$3,864$3,373$2,937$2,553$1,314
14 years$4,058$3,512$3,030$2,607$2,238$1,083
15 years$3,749$3,209$2,736$2,325$1,970$895
16 years$3,478$2,944$2,481$2,082$1,741$741
17 years$3,239$2,711$2,257$1,871$1,544$616
18 years$3,027$2,505$2,061$1,686$1,373$512
19 years$2,838$2,322$1,886$1,523$1,224$427
20 years$2,668$2,158$1,731$1,380$1,093$356
21 years$2,514$2,010$1,592$1,252$978$297
22 years$2,375$1,876$1,468$1,138$877$248
23 years$2,247$1,755$1,355$1,037$787$207
24 years$2,131$1,644$1,253$946$707$174
25 years$2,024$1,543$1,161$864$636$145
26 years$1,925$1,450$1,077$790$573$122
27 years$1,834$1,365$1,000$723$517$102
28 years$1,750$1,286$929$662$466$85
29 years$1,671$1,213$865$607$421$71
30 years$1,598$1,146$806$557$381$60
31 years$1,530$1,083$751$512$344$50
32 years$1,466$1,025$701$470$311$42
33 years$1,406$970$654$433$282$35
34 years$1,350$920$611$398$255$30
35 years$1,297$872$571$366$231$25
36 years$1,247$828$535$337$209$21
37 years$1,200$786$500$311$190$17
38 years$1,155$747$469$287$172$15
39 years$1,113$711$439$264$156$12
40 years$1,073$676$411$244$141$10
41 years$1,035$644$386$225$128$9
42 years$999$613$362$208$116$7
43 years$965$584$340$192$106$6
44 years$933$557$319$177$96$5
45 years$902$531$299$163$87$4
46 years$872$506$281$151$79$4
47 years$844$483$264$139$72$3
48 years$817$461$248$129$65$3
49 years$791$441$233$119$59$2
50 years$766$421$219$110$54$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $785,000, adding $6,937 every year, while hoping to spend $27,926 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: 44/30/26 Blend
55$785,000$785,000$785,000$785,000
56$872,226$830,621$818,453$903,759
57$931,479$841,608$816,158$937,849
58$995,841$852,198$812,850$971,564
59$1,065,803$862,341$808,466$1,007,567
60$1,141,904$871,985$802,940$1,046,085
61$1,224,741$881,075$796,201$1,087,371
62$1,314,967$889,551$788,176$1,131,703
63$1,413,304$897,348$778,790$1,179,391
64$1,520,544$904,401$767,962$1,230,776
65$1,637,559$910,636$755,609$1,286,237
66$1,765,310$915,978$741,642$1,346,191
67$1,904,854$920,343$725,969$1,411,100
68$2,057,356$923,647$708,496$1,481,476
69$2,224,096$925,795$689,120$1,557,885
70$2,406,486$926,691$667,738$1,640,951
71$2,606,079$926,231$644,239$1,731,366
72$2,824,585$924,302$618,507$1,829,893
73$3,063,889$920,789$590,423$1,937,376
74$3,326,065$915,567$559,861$2,054,749
75$3,613,396$908,502$526,689$2,183,042
76$3,928,400$899,456$490,771$2,323,394
77$4,273,847$888,280$451,961$2,477,064
78$4,652,789$874,815$410,112$2,645,441
79$5,068,588$858,895$365,065$2,830,062
80$5,524,946$840,344$316,658$3,032,622
81$6,025,943$818,974$264,718$3,254,994
82$6,576,072$794,586$209,069$3,499,247
83$7,180,282$766,971$149,523$3,767,664
84$7,844,024$735,906$85,885$4,062,766
85$8,573,306$701,157$17,954$4,387,339
86$9,374,744$662,474$0$4,744,454
87$10,255,628$619,596$0$5,152,636
88$11,223,990$572,243$0$5,606,798
89$12,288,676$520,122$0$6,106,150
90$13,459,435$462,922$0$6,655,320
91$14,747,006$400,315$0$7,259,414
92$16,163,224$331,953$0$7,924,057
93$17,721,124$257,470$0$8,655,457
94$19,435,072$176,479$0$9,460,455
95$21,320,893$88,571$0$10,346,596
96$23,396,027$0$0$11,322,200
97$25,679,687$0$0$12,398,646
98$28,193,045$0$0$13,615,656
99$30,959,426$0$0$14,955,300
100$34,004,536$0$0$16,430,039