Can I retire at age 56 with 787,000?

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 $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%16.4%
1 years$64,990$64,411$63,846$63,295$62,756$61,115
2 years$32,173$31,574$30,993$30,430$29,884$28,242
3 years$21,236$20,634$20,055$19,497$18,960$17,368
4 years$15,768$15,168$14,595$14,046$13,522$11,993
5 years$12,488$11,892$11,326$10,789$10,279$8,817
6 years$10,303$9,711$9,153$8,628$8,134$6,739
7 years$8,742$8,155$7,606$7,094$6,615$5,289
8 years$7,572$6,990$6,451$5,951$5,488$4,229
9 years$6,662$6,086$5,556$5,069$4,621$3,429
10 years$5,935$5,365$4,844$4,369$3,938$2,811
11 years$5,341$4,776$4,264$3,803$3,387$2,323
12 years$4,846$4,287$3,785$3,335$2,935$1,933
13 years$4,427$3,874$3,381$2,945$2,559$1,616
14 years$4,068$3,521$3,038$2,614$2,243$1,358
15 years$3,758$3,217$2,743$2,331$1,975$1,145
16 years$3,487$2,951$2,487$2,087$1,746$968
17 years$3,248$2,718$2,263$1,875$1,548$820
18 years$3,035$2,512$2,066$1,690$1,376$697
19 years$2,845$2,328$1,891$1,527$1,227$593
20 years$2,675$2,163$1,736$1,383$1,096$505
21 years$2,521$2,015$1,596$1,255$981$431
22 years$2,381$1,881$1,471$1,141$879$368
23 years$2,253$1,759$1,359$1,039$789$314
24 years$2,136$1,648$1,256$948$709$269
25 years$2,029$1,547$1,164$866$638$230
26 years$1,930$1,454$1,079$792$575$197
27 years$1,839$1,368$1,002$725$518$169
28 years$1,754$1,289$932$664$468$145
29 years$1,675$1,216$867$609$422$124
30 years$1,602$1,148$808$559$382$106
31 years$1,534$1,086$753$513$345$91
32 years$1,469$1,027$702$472$312$78
33 years$1,409$973$656$434$282$67
34 years$1,353$922$613$399$256$58
35 years$1,300$875$573$367$232$50
36 years$1,250$830$536$338$210$43
37 years$1,203$788$502$312$190$37
38 years$1,158$749$470$287$172$31
39 years$1,116$712$440$265$156$27
40 years$1,076$678$413$244$142$23
41 years$1,038$645$387$225$129$20
42 years$1,002$614$363$208$117$17
43 years$968$585$340$192$106$15
44 years$935$558$320$177$96$13
45 years$904$532$300$164$87$11
46 years$874$508$282$151$79$9
47 years$846$484$265$140$72$8
48 years$819$463$249$129$65$7
49 years$793$442$234$119$59$6
50 years$768$422$220$110$54$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $787,000, adding $2,965 every year, while hoping to spend $35,278 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: 81/13/6 Blend
55$787,000$787,000$787,000$787,000
56$870,332$828,621$816,423$940,223
57$921,571$831,688$806,238$989,440
58$976,853$833,723$794,529$1,038,446
59$1,036,555$834,638$781,208$1,091,146
60$1,101,088$834,340$766,183$1,147,892
61$1,170,905$832,729$749,357$1,209,067
62$1,246,506$829,701$730,628$1,275,098
63$1,328,437$825,144$709,892$1,346,449
64$1,417,301$818,940$687,037$1,423,637
65$1,513,760$810,962$661,947$1,507,229
66$1,618,543$801,078$634,501$1,597,848
67$1,732,450$789,147$604,573$1,696,183
68$1,856,364$775,019$572,030$1,802,993
69$1,991,253$758,535$536,733$1,919,113
70$2,138,186$739,529$498,539$2,045,464
71$2,298,337$717,821$457,295$2,183,061
72$2,472,998$693,225$412,845$2,333,022
73$2,663,591$665,540$365,023$2,496,580
74$2,871,683$634,557$313,657$2,675,093
75$3,098,997$600,053$258,567$2,870,059
76$3,347,430$561,791$199,565$3,083,127
77$3,619,073$519,524$136,455$3,316,117
78$3,916,224$472,986$69,032$3,571,033
79$4,241,417$421,901$0$3,850,085
80$4,597,441$365,973$0$4,155,896
81$4,987,365$304,892$0$4,495,691
82$5,414,574$238,328$0$4,868,021
83$5,882,790$165,936$0$5,276,162
84$6,396,116$87,349$0$5,723,727
85$6,959,070$2,179$0$6,214,695
86$7,576,627$0$0$6,753,453
87$8,254,269$0$0$7,357,706
88$8,998,032$0$0$8,021,282
89$9,814,567$0$0$8,749,805
90$10,711,198$0$0$9,549,813
91$11,695,996$0$0$10,428,510
92$12,777,848$0$0$11,393,829
93$13,966,549$0$0$12,454,511
94$15,272,887$0$0$13,620,186
95$16,708,745$0$0$14,901,463
96$18,287,219$0$0$16,310,028
97$20,022,735$0$0$17,858,758
98$21,931,184$0$0$19,561,839
99$24,030,079$0$0$21,434,901
100$26,338,711$0$0$23,495,166