Can I retire at age 56 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$65,072$64,493$63,927$63,375$62,836$60,631
2 years$32,214$31,614$31,033$30,469$29,922$27,723
3 years$21,263$20,660$20,080$19,522$18,984$16,861
4 years$15,788$15,187$14,613$14,064$13,539$11,508
5 years$12,504$11,907$11,340$10,803$10,292$8,359
6 years$10,316$9,723$9,165$8,639$8,144$6,309
7 years$8,753$8,165$7,616$7,103$6,623$4,887
8 years$7,582$6,999$6,459$5,958$5,495$3,855
9 years$6,671$6,094$5,563$5,075$4,627$3,083
10 years$5,943$5,372$4,850$4,375$3,943$2,490
11 years$5,348$4,782$4,270$3,807$3,391$2,028
12 years$4,852$4,292$3,789$3,340$2,938$1,662
13 years$4,433$3,879$3,386$2,948$2,562$1,368
14 years$4,074$3,526$3,042$2,617$2,246$1,131
15 years$3,763$3,221$2,746$2,334$1,978$938
16 years$3,491$2,955$2,490$2,090$1,748$780
17 years$3,252$2,721$2,266$1,878$1,550$650
18 years$3,039$2,515$2,068$1,692$1,378$543
19 years$2,849$2,331$1,894$1,529$1,228$454
20 years$2,678$2,166$1,738$1,385$1,097$380
21 years$2,524$2,017$1,598$1,257$982$318
22 years$2,384$1,883$1,473$1,143$880$267
23 years$2,256$1,761$1,360$1,041$790$224
24 years$2,139$1,650$1,258$949$710$188
25 years$2,032$1,549$1,165$867$639$158
26 years$1,933$1,455$1,081$793$576$133
27 years$1,841$1,370$1,003$726$519$112
28 years$1,756$1,291$933$665$468$94
29 years$1,677$1,218$868$610$423$79
30 years$1,604$1,150$809$559$382$67
31 years$1,535$1,087$754$514$345$56
32 years$1,471$1,029$703$472$312$47
33 years$1,411$974$657$434$283$40
34 years$1,355$923$614$400$256$33
35 years$1,302$876$574$368$232$28
36 years$1,252$831$537$339$210$24
37 years$1,204$789$502$312$190$20
38 years$1,160$750$470$288$173$17
39 years$1,117$713$441$265$157$14
40 years$1,077$679$413$245$142$12
41 years$1,039$646$387$226$129$10
42 years$1,003$615$363$208$117$8
43 years$969$586$341$192$106$7
44 years$936$559$320$178$96$6
45 years$905$533$300$164$87$5
46 years$875$508$282$151$79$4
47 years$847$485$265$140$72$4
48 years$820$463$249$129$65$3
49 years$794$442$234$119$59$3
50 years$769$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 $788,000, adding $6,607 every year, while hoping to spend $23,471 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: 55/20/25 Blend
55$788,000$788,000$788,000$788,000
56$875,191$833,427$821,213$916,981
57$939,488$849,292$823,751$962,296
58$1,009,556$865,148$825,587$1,008,624
59$1,085,959$880,969$826,673$1,058,592
60$1,169,319$896,728$826,958$1,112,559
61$1,260,318$912,397$826,390$1,170,918
62$1,359,709$927,942$824,912$1,234,105
63$1,468,319$943,331$822,466$1,302,598
64$1,587,059$958,526$818,991$1,376,927
65$1,716,934$973,488$814,422$1,457,675
66$1,859,047$988,176$808,691$1,545,486
67$2,014,617$1,002,543$801,729$1,641,069
68$2,184,981$1,016,541$793,460$1,745,207
69$2,371,617$1,030,119$783,809$1,858,764
70$2,576,148$1,043,221$772,692$1,982,691
71$2,800,363$1,055,787$760,026$2,118,040
72$3,046,235$1,067,755$745,721$2,265,967
73$3,315,933$1,079,057$729,685$2,427,752
74$3,611,847$1,089,620$711,819$2,604,802
75$3,936,612$1,099,368$692,021$2,798,671
76$4,293,129$1,108,220$670,186$3,011,073
77$4,684,592$1,116,086$646,202$3,243,898
78$5,114,522$1,122,876$619,951$3,499,228
79$5,586,796$1,128,489$591,311$3,779,364
80$6,105,685$1,132,821$560,156$4,086,837
81$6,675,895$1,135,760$526,352$4,424,444
82$7,302,612$1,137,187$489,760$4,795,264
83$7,991,545$1,136,976$450,234$5,202,697
84$8,748,987$1,134,993$407,621$5,650,487
85$9,581,871$1,131,095$361,764$6,142,767
86$10,497,835$1,125,132$312,496$6,684,091
87$11,505,293$1,116,942$259,644$7,279,481
88$12,613,518$1,106,357$203,026$7,934,475
89$13,832,724$1,093,195$142,455$8,655,177
90$15,174,166$1,077,267$77,732$9,448,318
91$16,650,247$1,058,368$8,652$10,321,320
92$18,274,630$1,036,286$0$11,282,363
93$20,062,370$1,010,793$0$12,357,825
94$22,030,058$981,647$0$13,543,884
95$24,195,972$948,596$0$14,849,254
96$26,580,252$911,368$0$16,286,085
97$29,205,093$869,680$0$17,867,769
98$32,094,947$823,229$0$19,609,064
99$35,276,760$771,696$0$21,526,233
100$38,780,225$714,745$0$23,637,202