Can I retire at age 56 with 787,000?

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 $787,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$64,990$64,411$63,846$63,295$62,756$60,506
2 years$32,173$31,574$30,993$30,430$29,884$27,641
3 years$21,236$20,634$20,055$19,497$18,960$16,794
4 years$15,768$15,168$14,595$14,046$13,522$11,452
5 years$12,488$11,892$11,326$10,789$10,279$8,309
6 years$10,303$9,711$9,153$8,628$8,134$6,264
7 years$8,742$8,155$7,606$7,094$6,615$4,847
8 years$7,572$6,990$6,451$5,951$5,488$3,819
9 years$6,662$6,086$5,556$5,069$4,621$3,050
10 years$5,935$5,365$4,844$4,369$3,938$2,461
11 years$5,341$4,776$4,264$3,803$3,387$2,001
12 years$4,846$4,287$3,785$3,335$2,935$1,638
13 years$4,427$3,874$3,381$2,945$2,559$1,347
14 years$4,068$3,521$3,038$2,614$2,243$1,112
15 years$3,758$3,217$2,743$2,331$1,975$921
16 years$3,487$2,951$2,487$2,087$1,746$765
17 years$3,248$2,718$2,263$1,875$1,548$636
18 years$3,035$2,512$2,066$1,690$1,376$530
19 years$2,845$2,328$1,891$1,527$1,227$443
20 years$2,675$2,163$1,736$1,383$1,096$370
21 years$2,521$2,015$1,596$1,255$981$310
22 years$2,381$1,881$1,471$1,141$879$259
23 years$2,253$1,759$1,359$1,039$789$217
24 years$2,136$1,648$1,256$948$709$182
25 years$2,029$1,547$1,164$866$638$153
26 years$1,930$1,454$1,079$792$575$128
27 years$1,839$1,368$1,002$725$518$108
28 years$1,754$1,289$932$664$468$90
29 years$1,675$1,216$867$609$422$76
30 years$1,602$1,148$808$559$382$64
31 years$1,534$1,086$753$513$345$54
32 years$1,469$1,027$702$472$312$45
33 years$1,409$973$656$434$282$38
34 years$1,353$922$613$399$256$32
35 years$1,300$875$573$367$232$27
36 years$1,250$830$536$338$210$23
37 years$1,203$788$502$312$190$19
38 years$1,158$749$470$287$172$16
39 years$1,116$712$440$265$156$13
40 years$1,076$678$413$244$142$11
41 years$1,038$645$387$225$129$9
42 years$1,002$614$363$208$117$8
43 years$968$585$340$192$106$7
44 years$935$558$320$177$96$6
45 years$904$532$300$164$87$5
46 years$874$508$282$151$79$4
47 years$846$484$265$140$72$3
48 years$819$463$249$129$65$3
49 years$793$442$234$119$59$2
50 years$768$422$220$110$54$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $787,000, adding $3,898 every year, while hoping to spend $27,776 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: 33/49/18 Blend
55$787,000$787,000$787,000$787,000
56$871,295$829,584$817,385$895,071
57$930,613$840,680$815,214$924,082
58$995,052$851,389$812,040$952,488
59$1,065,102$861,662$807,798$982,516
60$1,141,307$871,449$802,424$1,014,322
61$1,224,264$880,693$795,849$1,048,084
62$1,314,628$889,336$787,999$1,083,995
63$1,413,122$897,316$778,799$1,122,273
64$1,520,542$904,565$768,170$1,163,157
65$1,637,761$911,013$756,027$1,206,914
66$1,765,744$916,583$742,285$1,253,840
67$1,905,550$921,196$726,852$1,304,260
68$2,058,347$924,766$709,633$1,358,539
69$2,225,420$927,201$690,527$1,417,077
70$2,408,184$928,405$669,431$1,480,321
71$2,608,197$928,274$646,234$1,548,764
72$2,827,173$926,700$620,824$1,622,953
73$3,067,003$923,567$593,080$1,703,492
74$3,329,766$918,751$562,877$1,791,052
75$3,617,755$912,122$530,085$1,886,374
76$3,933,490$903,540$494,568$1,990,280
77$4,279,753$892,861$456,183$2,103,679
78$4,659,604$879,927$414,781$2,227,575
79$5,076,414$864,573$370,206$2,363,082
80$5,533,896$846,626$322,297$2,511,430
81$6,036,143$825,899$270,882$2,673,979
82$6,587,658$802,197$215,786$2,852,235
83$7,193,407$775,313$156,822$3,047,863
84$7,858,857$745,025$93,798$3,262,701
85$8,590,032$711,103$26,512$3,498,784
86$9,393,569$673,301$0$3,758,359
87$10,276,777$631,357$0$4,052,610
88$11,247,713$584,998$0$4,381,583
89$12,315,250$533,933$0$4,743,257
90$13,489,163$477,854$0$5,141,030
91$14,780,226$416,436$0$5,578,652
92$16,200,304$349,337$0$6,060,261
93$17,762,474$276,193$0$6,590,426
94$19,481,142$196,623$0$7,174,189
95$21,372,181$110,220$0$7,817,113
96$23,453,081$16,559$0$8,525,341
97$25,743,113$0$0$9,305,646
98$28,263,509$0$0$10,211,236
99$31,037,665$0$0$11,217,973
100$34,091,361$0$0$12,326,301