Can I retire at age 56 with 766,000?

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 $766,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$63,256$62,692$62,142$61,606$61,082$59,198
2 years$31,315$30,731$30,166$29,618$29,087$27,205
3 years$20,669$20,083$19,520$18,977$18,454$16,633
4 years$15,347$14,763$14,205$13,672$13,161$11,416
5 years$12,155$11,575$11,024$10,501$10,005$8,340
6 years$10,028$9,452$8,909$8,398$7,917$6,333
7 years$8,509$7,937$7,403$6,904$6,438$4,936
8 years$7,370$6,804$6,279$5,792$5,341$3,920
9 years$6,485$5,924$5,408$4,933$4,498$3,155
10 years$5,777$5,222$4,715$4,253$3,833$2,567
11 years$5,198$4,649$4,151$3,701$3,296$2,105
12 years$4,716$4,172$3,684$3,246$2,856$1,737
13 years$4,309$3,771$3,291$2,866$2,491$1,441
14 years$3,960$3,427$2,957$2,544$2,183$1,201
15 years$3,658$3,131$2,670$2,269$1,922$1,004
16 years$3,394$2,873$2,421$2,032$1,699$841
17 years$3,161$2,646$2,203$1,825$1,507$707
18 years$2,954$2,445$2,011$1,645$1,340$595
19 years$2,769$2,266$1,841$1,486$1,194$502
20 years$2,603$2,105$1,689$1,346$1,066$424
21 years$2,453$1,961$1,554$1,222$954$358
22 years$2,317$1,831$1,432$1,111$855$303
23 years$2,193$1,712$1,322$1,012$768$256
24 years$2,079$1,604$1,223$923$690$217
25 years$1,975$1,505$1,133$843$621$184
26 years$1,879$1,415$1,050$771$559$156
27 years$1,790$1,331$975$705$504$133
28 years$1,707$1,255$907$646$455$112
29 years$1,631$1,184$844$593$411$95
30 years$1,559$1,118$786$544$371$81
31 years$1,493$1,057$733$499$336$69
32 years$1,430$1,000$684$459$304$59
33 years$1,372$947$638$422$275$50
34 years$1,317$897$596$388$249$42
35 years$1,265$851$558$358$225$36
36 years$1,217$808$522$329$204$31
37 years$1,171$767$488$303$185$26
38 years$1,127$729$457$280$168$22
39 years$1,086$693$428$258$152$19
40 years$1,047$660$402$238$138$16
41 years$1,010$628$377$219$125$14
42 years$975$598$353$202$114$12
43 years$942$570$331$187$103$10
44 years$910$543$311$173$94$8
45 years$880$518$292$159$85$7
46 years$851$494$274$147$77$6
47 years$823$472$258$136$70$5
48 years$797$450$242$126$64$4
49 years$772$430$228$116$58$4
50 years$748$411$214$107$52$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $766,000, adding $5,132 every year, while hoping to spend $23,885 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: 67/11/22 Blend
55$766,000$766,000$766,000$766,000
56$849,426$808,828$796,955$901,270
57$910,654$823,047$798,239$950,900
58$977,326$837,162$798,766$1,001,941
59$1,049,974$851,143$798,485$1,057,196
60$1,129,180$864,958$797,343$1,117,080
61$1,215,586$878,571$795,284$1,182,051
62$1,309,899$891,944$792,250$1,252,613
63$1,412,898$905,039$788,179$1,329,322
64$1,525,438$917,810$783,007$1,412,791
65$1,648,463$930,213$776,668$1,503,696
66$1,783,010$942,197$769,091$1,602,781
67$1,930,223$953,711$760,201$1,710,867
68$2,091,360$964,697$749,922$1,828,860
69$2,267,807$975,095$738,172$1,957,758
70$2,461,090$984,841$724,868$2,098,660
71$2,672,890$993,867$709,920$2,252,780
72$2,905,058$1,002,100$693,235$2,421,455
73$3,159,632$1,009,461$674,716$2,606,160
74$3,438,858$1,015,868$654,263$2,808,519
75$3,745,208$1,021,232$631,768$3,030,324
76$4,081,407$1,025,461$607,120$3,273,550
77$4,450,456$1,028,453$580,203$3,540,376
78$4,855,659$1,030,104$550,897$3,833,201
79$5,300,657$1,030,300$519,073$4,154,672
80$5,789,461$1,028,922$484,599$4,507,707
81$6,326,489$1,025,842$447,336$4,895,522
82$6,916,610$1,020,927$407,140$5,321,661
83$7,565,184$1,014,033$363,860$5,790,034
84$8,278,120$1,005,007$317,336$6,304,949
85$9,061,926$993,690$267,405$6,871,156
86$9,923,773$979,911$213,893$7,493,889
87$10,871,560$963,489$156,620$8,178,921
88$11,913,991$944,232$95,400$8,932,613
89$13,060,657$921,939$30,034$9,761,977
90$14,322,123$896,393$0$10,674,744
91$15,710,031$867,367$0$11,688,759
92$17,237,207$834,621$0$12,812,220
93$18,917,785$797,901$0$14,048,474
94$20,767,338$756,936$0$15,408,988
95$22,803,022$711,443$0$16,906,397
96$25,043,746$661,118$0$18,554,625
97$27,510,339$605,644$0$20,369,017
98$30,225,757$544,685$0$22,366,480
99$33,215,293$477,883$0$24,565,648
100$36,506,817$404,863$0$26,987,055