Can I retire at age 56 with 789,000?

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 $789,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$65,155$64,575$64,008$63,456$62,916$61,196
2 years$32,255$31,654$31,072$30,508$29,960$28,240
3 years$21,290$20,686$20,106$19,546$19,008$17,342
4 years$15,808$15,207$14,632$14,082$13,557$11,957
5 years$12,520$11,922$11,355$10,816$10,305$8,776
6 years$10,329$9,735$9,176$8,650$8,154$6,697
7 years$8,764$8,176$7,626$7,112$6,632$5,247
8 years$7,591$7,008$6,467$5,966$5,502$4,188
9 years$6,679$6,102$5,570$5,082$4,633$3,390
10 years$5,950$5,378$4,856$4,380$3,948$2,773
11 years$5,354$4,788$4,275$3,812$3,395$2,288
12 years$4,858$4,298$3,794$3,344$2,942$1,899
13 years$4,438$3,884$3,390$2,952$2,566$1,585
14 years$4,079$3,530$3,046$2,621$2,249$1,329
15 years$3,768$3,225$2,750$2,337$1,980$1,118
16 years$3,496$2,959$2,493$2,093$1,750$943
17 years$3,256$2,725$2,269$1,880$1,552$798
18 years$3,043$2,518$2,071$1,694$1,380$676
19 years$2,853$2,334$1,896$1,531$1,230$574
20 years$2,682$2,169$1,740$1,387$1,098$488
21 years$2,527$2,020$1,600$1,258$983$415
22 years$2,387$1,885$1,475$1,144$881$354
23 years$2,259$1,763$1,362$1,042$791$302
24 years$2,142$1,652$1,260$950$711$257
25 years$2,034$1,551$1,167$868$640$220
26 years$1,935$1,457$1,082$794$576$188
27 years$1,843$1,371$1,005$726$520$160
28 years$1,759$1,292$934$666$469$137
29 years$1,680$1,219$869$610$423$117
30 years$1,606$1,151$810$560$382$100
31 years$1,537$1,088$755$514$346$86
32 years$1,473$1,030$704$473$313$74
33 years$1,413$975$658$435$283$63
34 years$1,356$924$614$400$256$54
35 years$1,303$877$574$368$232$46
36 years$1,253$832$537$339$210$39
37 years$1,206$790$503$312$191$34
38 years$1,161$751$471$288$173$29
39 years$1,119$714$441$266$157$25
40 years$1,079$680$414$245$142$21
41 years$1,041$647$388$226$129$18
42 years$1,005$616$364$209$117$16
43 years$970$587$341$193$106$13
44 years$937$560$320$178$96$11
45 years$906$534$301$164$88$10
46 years$877$509$283$152$79$8
47 years$848$486$265$140$72$7
48 years$821$464$249$129$66$6
49 years$795$443$234$120$60$5
50 years$770$423$220$111$54$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $789,000, adding $4,063 every year, while hoping to spend $35,812 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: 65/15/20 Blend
55$789,000$789,000$789,000$789,000
56$873,669$831,852$819,622$925,780
57$924,680$834,509$808,976$963,935
58$979,693$836,096$796,773$1,001,165
59$1,039,080$836,523$782,923$1,041,007
60$1,103,247$835,693$767,332$1,083,719
61$1,172,641$833,506$749,901$1,129,586
62$1,247,755$829,852$730,527$1,178,920
63$1,329,130$824,618$709,103$1,232,069
64$1,417,358$817,682$685,515$1,289,416
65$1,513,095$808,915$659,646$1,351,385
66$1,617,059$798,179$631,372$1,418,445
67$1,730,040$785,331$600,565$1,491,111
68$1,852,908$770,217$567,088$1,569,955
69$1,986,621$752,674$530,802$1,655,609
70$2,132,231$732,530$491,558$1,748,768
71$2,290,898$709,602$449,204$1,850,203
72$2,463,895$683,698$403,578$1,960,762
73$2,652,626$654,614$354,512$2,081,386
74$2,858,637$622,133$301,831$2,213,110
75$3,083,627$586,027$245,352$2,357,078
76$3,329,469$546,054$184,883$2,514,555
77$3,598,223$501,958$120,225$2,686,934
78$3,892,158$453,470$51,168$2,875,755
79$4,213,772$400,305$0$3,082,719
80$4,565,816$342,159$0$3,314,508
81$4,951,320$278,715$0$3,580,352
82$5,373,618$209,635$0$3,871,655
83$5,836,384$134,564$0$4,190,992
84$6,343,664$53,127$0$4,541,203
85$6,899,913$0$0$4,925,416
86$7,510,040$0$0$5,352,869
87$8,179,449$0$0$5,831,530
88$8,914,095$0$0$6,356,893
89$9,720,535$0$0$6,933,656
90$10,605,994$0$0$7,566,991
91$11,578,430$0$0$8,262,599
92$12,646,609$0$0$9,026,758
93$13,820,188$0$0$9,866,385
94$15,109,806$0$0$10,789,099
95$16,527,184$0$0$11,803,294
96$18,085,235$0$0$12,918,219
97$19,798,183$0$0$14,144,062
98$21,681,702$0$0$15,492,050
99$23,753,059$0$0$16,974,548
100$26,031,280$0$0$18,605,185