Can I retire at age 56 with 783,000?

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 $783,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$64,659$64,083$63,522$62,973$62,438$62,174
2 years$32,010$31,413$30,836$30,276$29,732$29,467
3 years$21,128$20,529$19,953$19,398$18,863$18,603
4 years$15,688$15,091$14,520$13,975$13,453$13,201
5 years$12,425$11,832$11,268$10,734$10,227$9,983
6 years$10,250$9,661$9,107$8,584$8,092$7,857
7 years$8,697$8,114$7,568$7,058$6,581$6,355
8 years$7,533$6,955$6,418$5,920$5,460$5,243
9 years$6,629$6,055$5,528$5,043$4,598$4,390
10 years$5,905$5,338$4,819$4,347$3,918$3,718
11 years$5,314$4,752$4,243$3,783$3,369$3,178
12 years$4,821$4,265$3,765$3,318$2,920$2,737
13 years$4,404$3,854$3,364$2,930$2,546$2,372
14 years$4,048$3,503$3,023$2,601$2,232$2,066
15 years$3,739$3,200$2,729$2,319$1,965$1,807
16 years$3,469$2,936$2,474$2,077$1,737$1,586
17 years$3,231$2,704$2,252$1,866$1,540$1,397
18 years$3,020$2,499$2,055$1,682$1,369$1,234
19 years$2,831$2,316$1,882$1,519$1,220$1,092
20 years$2,661$2,152$1,727$1,376$1,090$968
21 years$2,508$2,005$1,588$1,249$976$860
22 years$2,369$1,871$1,464$1,136$874$766
23 years$2,242$1,750$1,352$1,034$785$682
24 years$2,125$1,640$1,250$943$706$609
25 years$2,019$1,539$1,158$861$635$543
26 years$1,920$1,446$1,074$788$572$486
27 years$1,829$1,361$997$721$516$435
28 years$1,745$1,283$927$661$465$389
29 years$1,667$1,210$863$606$420$349
30 years$1,594$1,143$803$556$380$312
31 years$1,526$1,080$749$511$343$280
32 years$1,462$1,022$699$469$310$251
33 years$1,402$968$653$431$281$226
34 years$1,346$917$610$397$254$203
35 years$1,293$870$570$365$230$182
36 years$1,244$826$533$337$209$164
37 years$1,197$784$499$310$189$147
38 years$1,152$745$467$286$172$132
39 years$1,110$709$438$264$156$119
40 years$1,070$674$410$243$141$107
41 years$1,033$642$385$224$128$96
42 years$997$611$361$207$116$86
43 years$963$583$339$191$105$78
44 years$930$555$318$176$96$70
45 years$899$529$299$163$87$63
46 years$870$505$280$150$79$57
47 years$842$482$263$139$72$51
48 years$815$460$248$128$65$46
49 years$789$439$233$119$59$41
50 years$764$420$219$110$54$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $783,000, adding $4,938 every year, while hoping to spend $55,022 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: 65/19/16 Blend
55$783,000$783,000$783,000$783,000
56$867,960$826,461$814,324$920,685
57$897,948$808,414$783,061$938,553
58$929,152$787,639$748,906$951,265
59$961,636$763,944$711,705$963,813
60$995,472$737,126$671,296$976,181
61$1,030,735$706,970$627,509$988,353
62$1,067,507$673,249$580,168$1,000,312
63$1,105,876$635,721$529,087$1,012,044
64$1,145,938$594,134$474,074$1,023,534
65$1,187,794$548,218$414,926$1,034,770
66$1,231,557$497,688$351,434$1,045,738
67$1,277,346$442,245$283,377$1,056,429
68$1,325,290$381,570$210,525$1,066,836
69$1,375,531$315,328$132,639$1,076,951
70$1,428,221$243,165$49,468$1,086,774
71$1,483,525$164,706$0$1,096,304
72$1,541,624$79,555$0$1,112,254
73$1,602,712$0$0$1,137,376
74$1,667,002$0$0$1,165,935
75$1,734,726$0$0$1,213,559
76$1,806,134$0$0$1,263,794
77$1,881,502$0$0$1,316,837
78$1,961,129$0$0$1,372,901
79$2,045,340$0$0$1,432,218
80$2,134,492$0$0$1,495,043
81$2,228,975$0$0$1,561,653
82$2,329,213$0$0$1,632,352
83$2,435,671$0$0$1,707,472
84$2,548,857$0$0$1,787,375
85$2,669,328$0$0$1,872,460
86$2,797,692$0$0$1,963,160
87$2,934,616$0$0$2,059,953
88$3,080,831$0$0$2,163,360
89$3,237,137$0$0$2,273,954
90$3,404,410$0$0$2,392,360
91$3,583,614$0$0$2,519,268
92$3,775,803$0$0$2,655,431
93$3,982,135$0$0$2,801,678
94$4,203,880$0$0$2,958,916
95$4,442,434$0$0$3,128,144
96$4,699,328$0$0$3,310,457
97$4,976,244$0$0$3,507,058
98$5,275,029$0$0$3,719,269
99$5,597,714$0$0$3,948,542
100$5,946,528$0$0$4,196,473