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%13.7%
1 years$65,155$64,575$64,008$63,456$62,916$61,950
2 years$32,255$31,654$31,072$30,508$29,960$28,989
3 years$21,290$20,686$20,106$19,546$19,008$18,062
4 years$15,808$15,207$14,632$14,082$13,557$12,644
5 years$12,520$11,922$11,355$10,816$10,305$9,428
6 years$10,329$9,735$9,176$8,650$8,154$7,313
7 years$8,764$8,176$7,626$7,112$6,632$5,827
8 years$7,591$7,008$6,467$5,966$5,502$4,733
9 years$6,679$6,102$5,570$5,082$4,633$3,901
10 years$5,950$5,378$4,856$4,380$3,948$3,251
11 years$5,354$4,788$4,275$3,812$3,395$2,733
12 years$4,858$4,298$3,794$3,344$2,942$2,314
13 years$4,438$3,884$3,390$2,952$2,566$1,970
14 years$4,079$3,530$3,046$2,621$2,249$1,686
15 years$3,768$3,225$2,750$2,337$1,980$1,448
16 years$3,496$2,959$2,493$2,093$1,750$1,248
17 years$3,256$2,725$2,269$1,880$1,552$1,078
18 years$3,043$2,518$2,071$1,694$1,380$934
19 years$2,853$2,334$1,896$1,531$1,230$811
20 years$2,682$2,169$1,740$1,387$1,098$705
21 years$2,527$2,020$1,600$1,258$983$614
22 years$2,387$1,885$1,475$1,144$881$535
23 years$2,259$1,763$1,362$1,042$791$467
24 years$2,142$1,652$1,260$950$711$408
25 years$2,034$1,551$1,167$868$640$357
26 years$1,935$1,457$1,082$794$576$312
27 years$1,843$1,371$1,005$726$520$274
28 years$1,759$1,292$934$666$469$240
29 years$1,680$1,219$869$610$423$210
30 years$1,606$1,151$810$560$382$184
31 years$1,537$1,088$755$514$346$162
32 years$1,473$1,030$704$473$313$142
33 years$1,413$975$658$435$283$124
34 years$1,356$924$614$400$256$109
35 years$1,303$877$574$368$232$96
36 years$1,253$832$537$339$210$84
37 years$1,206$790$503$312$191$74
38 years$1,161$751$471$288$173$65
39 years$1,119$714$441$266$157$57
40 years$1,079$680$414$245$142$50
41 years$1,041$647$388$226$129$44
42 years$1,005$616$364$209$117$39
43 years$970$587$341$193$106$34
44 years$937$560$320$178$96$30
45 years$906$534$301$164$88$26
46 years$877$509$283$152$79$23
47 years$848$486$265$140$72$20
48 years$821$464$249$129$66$18
49 years$795$443$234$120$60$16
50 years$770$423$220$111$54$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $789,000, adding $2,568 every year, while hoping to spend $42,017 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: 70/12/18 Blend
55$789,000$789,000$789,000$789,000
56$872,127$830,310$818,080$929,245
57$916,378$826,289$800,780$963,601
58$963,735$820,663$781,492$995,953
59$1,014,469$813,309$760,106$1,030,306
60$1,068,880$804,097$736,504$1,066,853
61$1,127,295$792,887$710,567$1,105,807
62$1,190,075$779,534$682,166$1,147,404
63$1,257,613$763,882$651,170$1,191,903
64$1,330,344$745,766$617,438$1,239,594
65$1,408,744$725,014$580,827$1,290,795
66$1,493,336$701,440$541,185$1,345,857
67$1,584,695$674,849$498,354$1,405,171
68$1,683,452$645,035$452,167$1,469,167
69$1,790,302$611,779$402,452$1,538,321
70$1,906,007$574,850$349,028$1,613,159
71$2,031,406$534,004$291,707$1,694,263
72$2,167,422$488,983$230,292$1,782,274
73$2,315,070$439,514$164,577$1,877,904
74$2,475,464$385,307$94,348$1,981,937
75$2,649,833$326,059$19,380$2,095,239
76$2,839,526$261,446$0$2,218,769
77$3,046,030$191,129$0$2,365,228
78$3,270,978$114,748$0$2,528,869
79$3,516,170$31,923$0$2,707,307
80$3,783,586$0$0$2,902,017
81$4,075,404$0$0$3,122,253
82$4,394,023$0$0$3,367,358
83$4,742,083$0$0$3,635,153
84$5,122,492$0$0$3,927,879
85$5,538,448$0$0$4,248,005
86$5,993,477$0$0$4,598,246
87$6,491,457$0$0$4,981,597
88$7,036,660$0$0$5,401,350
89$7,633,790$0$0$5,861,134
90$8,288,029$0$0$6,364,946
91$9,005,081$0$0$6,917,184
92$9,791,230$0$0$7,522,695
93$10,653,397$0$0$8,186,817
94$11,599,203$0$0$8,915,429
95$12,637,046$0$0$9,715,007
96$13,776,172$0$0$10,592,683
97$15,026,769$0$0$11,556,314
98$16,400,058$0$0$12,614,556
99$17,908,400$0$0$13,776,943
100$19,565,411$0$0$15,053,978