Can I retire at age 56 with 745,000?

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 $745,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$61,521$60,973$60,439$59,917$59,407$58,787
2 years$30,456$29,889$29,339$28,806$28,289$27,664
3 years$20,102$19,533$18,984$18,456$17,948$17,338
4 years$14,927$14,359$13,816$13,297$12,801$12,211
5 years$11,822$11,257$10,722$10,213$9,731$9,162
6 years$9,753$9,192$8,665$8,168$7,700$7,153
7 years$8,275$7,720$7,200$6,715$6,262$5,738
8 years$7,168$6,617$6,106$5,633$5,195$4,693
9 years$6,307$5,762$5,260$4,798$4,375$3,895
10 years$5,619$5,079$4,585$4,136$3,728$3,270
11 years$5,056$4,521$4,037$3,600$3,206$2,770
12 years$4,587$4,058$3,583$3,157$2,778$2,363
13 years$4,191$3,667$3,201$2,787$2,423$2,028
14 years$3,851$3,333$2,876$2,474$2,124$1,749
15 years$3,558$3,045$2,597$2,207$1,870$1,515
16 years$3,301$2,794$2,354$1,976$1,653$1,316
17 years$3,074$2,573$2,142$1,775$1,465$1,147
18 years$2,873$2,378$1,956$1,600$1,303$1,002
19 years$2,694$2,203$1,790$1,446$1,161$878
20 years$2,532$2,048$1,643$1,309$1,037$770
21 years$2,386$1,907$1,511$1,188$928$676
22 years$2,254$1,780$1,393$1,080$832$595
23 years$2,133$1,665$1,286$984$747$524
24 years$2,022$1,560$1,189$897$671$462
25 years$1,921$1,464$1,102$820$604$408
26 years$1,827$1,376$1,022$749$544$361
27 years$1,741$1,295$949$686$491$319
28 years$1,660$1,220$882$628$443$282
29 years$1,586$1,151$821$576$400$250
30 years$1,516$1,087$764$529$361$221
31 years$1,452$1,028$713$486$327$196
32 years$1,391$972$665$446$295$174
33 years$1,334$921$621$411$267$154
34 years$1,281$873$580$378$242$136
35 years$1,231$828$542$348$219$121
36 years$1,183$786$507$320$199$107
37 years$1,139$746$475$295$180$95
38 years$1,096$709$445$272$163$85
39 years$1,056$674$417$251$148$75
40 years$1,019$642$391$231$134$67
41 years$983$611$366$213$122$59
42 years$948$582$343$197$110$53
43 years$916$554$322$182$100$47
44 years$885$528$303$168$91$41
45 years$856$504$284$155$83$37
46 years$828$481$267$143$75$33
47 years$801$459$251$132$68$29
48 years$775$438$236$122$62$26
49 years$751$418$221$113$56$23
50 years$727$399$208$104$51$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $745,000, adding $5,696 every year, while hoping to spend $32,877 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: 43/48/9 Blend
55$745,000$745,000$745,000$745,000
56$826,865$787,380$775,833$860,031
57$876,225$790,981$766,842$887,273
58$929,517$793,656$756,449$912,984
59$987,108$795,326$744,571$940,090
60$1,049,402$795,905$731,122$968,732
61$1,116,839$795,304$716,013$999,065
62$1,189,908$793,425$699,151$1,031,263
63$1,269,144$790,168$680,437$1,065,519
64$1,355,134$785,423$659,770$1,102,048
65$1,448,526$779,077$637,040$1,141,090
66$1,550,032$771,008$612,137$1,182,909
67$1,660,435$761,087$584,943$1,227,803
68$1,780,596$749,177$555,336$1,276,097
69$1,911,464$735,134$523,187$1,328,158
70$2,054,081$718,804$488,362$1,384,389
71$2,209,597$700,025$450,721$1,445,241
72$2,379,274$678,624$410,118$1,511,212
73$2,564,503$654,420$366,401$1,582,855
74$2,766,817$627,221$319,409$1,660,784
75$2,987,899$596,821$268,976$1,745,679
76$3,229,605$563,007$214,928$1,838,297
77$3,493,980$525,549$157,083$1,939,472
78$3,783,272$484,207$95,251$2,050,132
79$4,099,958$438,725$29,234$2,171,304
80$4,446,766$388,835$0$2,304,126
81$4,826,700$334,251$0$2,453,817
82$5,243,067$274,674$0$2,621,066
83$5,699,512$209,784$0$2,804,629
84$6,200,045$139,247$0$3,006,239
85$6,749,088$62,708$0$3,227,812
86$7,351,507$0$0$3,471,465
87$8,012,664$0$0$3,750,214
88$8,738,465$0$0$4,092,672
89$9,535,415$0$0$4,468,799
90$10,410,682$0$0$4,881,989
91$11,372,160$0$0$5,335,981
92$12,428,546$0$0$5,834,896
93$13,589,420$0$0$6,383,271
94$14,865,338$0$0$6,986,107
95$16,267,929$0$0$7,648,912
96$17,810,003$0$0$8,377,755
97$19,505,675$0$0$9,179,323
98$21,370,495$0$0$10,060,983
99$23,421,598$0$0$11,030,850
100$25,677,859$0$0$12,097,869