Can I retire at age 56 with 771,000?

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 $771,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$63,668$63,101$62,548$62,008$61,481$59,776
2 years$31,519$30,932$30,363$29,812$29,276$27,572
3 years$20,804$20,214$19,647$19,101$18,574$16,923
4 years$15,447$14,860$14,298$13,761$13,247$11,662
5 years$12,234$11,650$11,096$10,570$10,070$8,556
6 years$10,093$9,513$8,967$8,453$7,968$6,525
7 years$8,564$7,989$7,452$6,949$6,480$5,109
8 years$7,418$6,848$6,320$5,830$5,376$4,076
9 years$6,527$5,963$5,443$4,966$4,527$3,297
10 years$5,815$5,256$4,745$4,280$3,858$2,696
11 years$5,232$4,679$4,178$3,725$3,318$2,222
12 years$4,747$4,200$3,708$3,268$2,875$1,844
13 years$4,337$3,795$3,313$2,885$2,507$1,538
14 years$3,986$3,450$2,976$2,561$2,198$1,288
15 years$3,682$3,151$2,687$2,284$1,935$1,083
16 years$3,416$2,891$2,436$2,045$1,710$913
17 years$3,182$2,663$2,217$1,837$1,516$772
18 years$2,973$2,461$2,024$1,656$1,348$654
19 years$2,788$2,280$1,853$1,496$1,202$554
20 years$2,620$2,119$1,700$1,355$1,073$471
21 years$2,469$1,974$1,564$1,230$961$400
22 years$2,332$1,842$1,441$1,118$861$341
23 years$2,207$1,723$1,331$1,018$773$290
24 years$2,093$1,615$1,231$929$695$248
25 years$1,988$1,515$1,140$848$625$211
26 years$1,891$1,424$1,057$776$563$180
27 years$1,801$1,340$982$710$508$154
28 years$1,718$1,263$913$650$458$132
29 years$1,641$1,191$849$596$414$112
30 years$1,569$1,125$791$547$374$96
31 years$1,502$1,064$738$503$338$82
32 years$1,440$1,006$688$462$306$70
33 years$1,381$953$643$425$277$60
34 years$1,325$903$600$391$250$51
35 years$1,274$857$561$360$227$44
36 years$1,225$813$525$331$206$38
37 years$1,178$772$491$305$186$32
38 years$1,135$734$460$281$169$28
39 years$1,093$698$431$260$153$24
40 years$1,054$664$404$239$139$20
41 years$1,017$632$379$221$126$17
42 years$982$602$355$204$114$15
43 years$948$574$334$188$104$13
44 years$916$547$313$174$94$11
45 years$886$521$294$160$86$9
46 years$857$497$276$148$78$8
47 years$829$475$259$137$71$7
48 years$802$453$244$127$64$6
49 years$777$433$229$117$58$5
50 years$753$413$215$108$53$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $771,000, adding $5,935 every year, while hoping to spend $42,235 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: 65/30/5 Blend
55$771,000$771,000$771,000$771,000
56$855,764$814,901$802,950$910,419
57$898,114$809,893$784,912$942,468
58$943,369$803,225$764,853$971,866
59$991,779$794,770$742,662$1,002,855
60$1,043,621$784,394$718,222$1,035,586
61$1,099,197$771,956$691,409$1,070,224
62$1,158,839$757,306$662,096$1,106,953
63$1,222,913$740,286$630,147$1,145,978
64$1,291,816$720,726$595,424$1,187,525
65$1,365,989$698,449$557,778$1,231,845
66$1,445,913$673,267$517,057$1,279,215
67$1,532,119$644,979$473,101$1,329,945
68$1,625,187$613,375$425,742$1,384,376
69$1,725,757$578,231$374,805$1,442,887
70$1,834,531$539,312$320,108$1,505,898
71$1,952,282$496,367$261,460$1,573,872
72$2,079,858$449,132$198,662$1,647,326
73$2,218,193$397,329$131,507$1,726,829
74$2,368,313$340,662$59,777$1,813,012
75$2,531,347$278,821$0$1,906,576
76$2,708,536$211,476$0$2,009,187
77$2,901,248$138,278$0$2,124,270
78$3,110,983$58,862$0$2,249,593
79$3,339,397$0$0$2,386,219
80$3,588,308$0$0$2,544,288
81$3,859,720$0$0$2,737,880
82$4,155,836$0$0$2,949,143
83$4,479,081$0$0$3,179,812
84$4,832,128$0$0$3,431,800
85$5,217,915$0$0$3,707,211
86$5,639,679$0$0$4,008,363
87$6,100,983$0$0$4,337,808
88$6,605,751$0$0$4,698,355
89$7,158,303$0$0$5,093,098
90$7,763,396$0$0$5,525,443
91$8,426,270$0$0$5,999,142
92$9,152,694$0$0$6,518,327
93$9,949,021$0$0$7,087,547
94$10,822,251$0$0$7,711,815
95$11,780,091$0$0$8,396,650
96$12,831,030$0$0$9,148,133
97$13,984,421$0$0$9,972,961
98$15,250,563$0$0$10,878,510
99$16,640,802$0$0$11,872,906
100$18,167,639$0$0$12,965,102