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%15%
1 years$64,990$64,411$63,846$63,295$62,756$61,464
2 years$32,173$31,574$30,993$30,430$29,884$28,588
3 years$21,236$20,634$20,055$19,497$18,960$17,700
4 years$15,768$15,168$14,595$14,046$13,522$12,309
5 years$12,488$11,892$11,326$10,789$10,279$9,116
6 years$10,303$9,711$9,153$8,628$8,134$7,021
7 years$8,742$8,155$7,606$7,094$6,615$5,554
8 years$7,572$6,990$6,451$5,951$5,488$4,478
9 years$6,662$6,086$5,556$5,069$4,621$3,662
10 years$5,935$5,365$4,844$4,369$3,938$3,027
11 years$5,341$4,776$4,264$3,803$3,387$2,524
12 years$4,846$4,287$3,785$3,335$2,935$2,119
13 years$4,427$3,874$3,381$2,945$2,559$1,789
14 years$4,068$3,521$3,038$2,614$2,243$1,517
15 years$3,758$3,217$2,743$2,331$1,975$1,292
16 years$3,487$2,951$2,487$2,087$1,746$1,103
17 years$3,248$2,718$2,263$1,875$1,548$945
18 years$3,035$2,512$2,066$1,690$1,376$810
19 years$2,845$2,328$1,891$1,527$1,227$697
20 years$2,675$2,163$1,736$1,383$1,096$600
21 years$2,521$2,015$1,596$1,255$981$517
22 years$2,381$1,881$1,471$1,141$879$447
23 years$2,253$1,759$1,359$1,039$789$386
24 years$2,136$1,648$1,256$948$709$334
25 years$2,029$1,547$1,164$866$638$289
26 years$1,930$1,454$1,079$792$575$250
27 years$1,839$1,368$1,002$725$518$217
28 years$1,754$1,289$932$664$468$188
29 years$1,675$1,216$867$609$422$163
30 years$1,602$1,148$808$559$382$141
31 years$1,534$1,086$753$513$345$123
32 years$1,469$1,027$702$472$312$107
33 years$1,409$973$656$434$282$92
34 years$1,353$922$613$399$256$80
35 years$1,300$875$573$367$232$70
36 years$1,250$830$536$338$210$61
37 years$1,203$788$502$312$190$53
38 years$1,158$749$470$287$172$46
39 years$1,116$712$440$265$156$40
40 years$1,076$678$413$244$142$35
41 years$1,038$645$387$225$129$30
42 years$1,002$614$363$208$117$26
43 years$968$585$340$192$106$23
44 years$935$558$320$177$96$20
45 years$904$532$300$164$87$17
46 years$874$508$282$151$79$15
47 years$846$484$265$140$72$13
48 years$819$463$249$129$65$11
49 years$793$442$234$119$59$10
50 years$768$422$220$110$54$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $787,000, adding $3,602 every year, while hoping to spend $33,417 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: 82/5/13 Blend
55$787,000$787,000$787,000$787,000
56$870,989$829,278$817,080$939,999
57$924,275$834,358$808,897$990,869
58$981,876$838,566$799,319$1,041,954
59$1,044,196$841,825$788,266$1,097,060
60$1,111,682$844,052$775,650$1,156,573
61$1,184,822$845,159$761,383$1,220,917
62$1,264,154$845,052$745,370$1,290,563
63$1,350,270$843,632$727,512$1,366,025
64$1,443,822$840,794$707,708$1,447,874
65$1,545,523$836,425$685,848$1,536,736
66$1,656,164$830,406$661,820$1,633,301
67$1,776,608$822,612$635,507$1,738,329
68$1,907,811$812,909$606,786$1,852,659
69$2,050,821$801,155$575,526$1,977,215
70$2,206,793$787,200$541,595$2,113,014
71$2,376,999$770,885$504,851$2,261,177
72$2,562,836$752,042$465,147$2,422,941
73$2,765,845$730,492$422,329$2,599,666
74$2,987,721$706,046$376,237$2,792,854
75$3,230,332$678,505$326,704$3,004,159
76$3,495,731$647,657$273,554$3,235,402
77$3,786,182$613,279$216,604$3,488,593
78$4,104,176$575,133$155,664$3,765,946
79$4,452,458$532,970$90,535$4,069,900
80$4,834,049$486,526$21,008$4,403,143
81$5,252,276$435,520$0$4,768,640
82$5,710,804$379,657$0$5,177,034
83$6,213,671$318,625$0$5,628,137
84$6,765,322$252,093$0$6,123,031
85$7,370,653$179,715$0$6,666,122
86$8,035,059$101,120$0$7,262,267
87$8,764,482$15,921$0$7,916,813
88$9,565,465$0$0$8,635,652
89$10,445,220$0$0$9,429,476
90$11,411,688$0$0$10,302,524
91$12,473,620$0$0$11,261,827
92$13,640,653$0$0$12,316,095
93$14,923,407$0$0$13,474,924
94$16,333,582$0$0$14,748,885
95$17,884,066$0$0$16,149,624
96$19,589,060$0$0$17,689,974
97$21,464,210$0$0$19,384,072
98$23,526,752$0$0$21,247,495
99$25,795,679$0$0$23,297,403
100$28,291,916$0$0$25,552,706