Can I retire at age 56 with 747,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $747,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$61,687$61,137$60,601$60,078$59,567$58,508
2 years$30,538$29,969$29,418$28,884$28,365$27,302
3 years$20,156$19,585$19,035$18,506$17,996$16,961
4 years$14,967$14,397$13,853$13,333$12,835$11,837
5 years$11,854$11,288$10,750$10,241$9,757$8,799
6 years$9,779$9,217$8,688$8,190$7,720$6,803
7 years$8,298$7,741$7,220$6,733$6,279$5,402
8 years$7,187$6,635$6,123$5,648$5,209$4,373
9 years$6,324$5,777$5,274$4,811$4,387$3,591
10 years$5,634$5,092$4,598$4,147$3,738$2,982
11 years$5,069$4,533$4,048$3,609$3,214$2,497
12 years$4,599$4,069$3,592$3,166$2,786$2,106
13 years$4,202$3,677$3,209$2,795$2,429$1,786
14 years$3,862$3,342$2,884$2,481$2,129$1,522
15 years$3,567$3,053$2,604$2,213$1,875$1,302
16 years$3,309$2,801$2,361$1,981$1,657$1,118
17 years$3,082$2,580$2,148$1,780$1,469$962
18 years$2,881$2,384$1,961$1,604$1,306$829
19 years$2,701$2,209$1,795$1,450$1,164$717
20 years$2,539$2,053$1,647$1,313$1,040$620
21 years$2,392$1,912$1,515$1,191$931$538
22 years$2,260$1,785$1,397$1,083$834$467
23 years$2,139$1,670$1,289$987$749$406
24 years$2,028$1,564$1,193$900$673$353
25 years$1,926$1,468$1,105$822$606$307
26 years$1,832$1,380$1,024$751$546$267
27 years$1,745$1,298$951$688$492$233
28 years$1,665$1,224$884$630$444$203
29 years$1,590$1,154$823$578$401$177
30 years$1,521$1,090$767$530$362$155
31 years$1,456$1,030$715$487$327$135
32 years$1,395$975$667$448$296$118
33 years$1,338$923$623$412$268$103
34 years$1,284$875$582$379$243$90
35 years$1,234$830$544$349$220$79
36 years$1,186$788$509$321$199$69
37 years$1,142$748$476$296$180$60
38 years$1,099$711$446$273$164$52
39 years$1,059$676$418$251$148$46
40 years$1,021$643$392$232$135$40
41 years$985$612$367$214$122$35
42 years$951$583$344$197$111$31
43 years$919$556$323$182$101$27
44 years$888$530$303$168$91$23
45 years$858$505$285$155$83$20
46 years$830$482$268$144$75$18
47 years$803$460$251$133$68$16
48 years$777$439$236$123$62$14
49 years$753$419$222$113$56$12
50 years$729$400$209$105$51$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $747,000, adding $3,809 every year, while hoping to spend $48,594 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: 63/7/30 Blend
55$747,000$747,000$747,000$747,000
56$827,123$787,532$775,953$872,346
57$859,786$774,417$750,244$890,413
58$894,152$759,032$722,045$904,526
59$930,343$741,212$691,221$918,917
60$968,493$720,786$657,632$933,623
61$1,008,746$697,572$621,130$948,687
62$1,051,262$671,377$581,562$964,155
63$1,096,213$641,996$538,766$980,084
64$1,143,786$609,214$492,574$996,536
65$1,194,189$572,801$442,812$1,013,584
66$1,247,645$532,518$389,295$1,031,308
67$1,304,401$488,107$331,833$1,049,801
68$1,364,725$439,300$270,224$1,069,169
69$1,428,912$385,810$204,261$1,089,529
70$1,497,282$327,336$133,725$1,111,016
71$1,570,189$263,559$58,389$1,133,781
72$1,648,017$194,143$0$1,157,992
73$1,731,192$118,732$0$1,190,887
74$1,820,174$36,952$0$1,246,037
75$1,915,474$0$0$1,305,057
76$2,017,648$0$0$1,372,276
77$2,127,308$0$0$1,447,511
78$2,245,124$0$0$1,528,380
79$2,371,834$0$0$1,615,395
80$2,508,246$0$0$1,709,115
81$2,655,249$0$0$1,810,157
82$2,813,818$0$0$1,919,196
83$2,985,024$0$0$2,036,977
84$3,170,045$0$0$2,164,314
85$3,370,176$0$0$2,302,107
86$3,586,838$0$0$2,451,340
87$3,821,597$0$0$2,613,100
88$4,076,172$0$0$2,788,578
89$4,352,454$0$0$2,979,087
90$4,652,522$0$0$3,186,070
91$4,978,665$0$0$3,411,112
92$5,333,400$0$0$3,655,961
93$5,719,495$0$0$3,922,537
94$6,139,998$0$0$4,212,955
95$6,598,262$0$0$4,529,540
96$7,097,975$0$0$4,874,853
97$7,643,201$0$0$5,251,712
98$8,238,408$0$0$5,663,219
99$8,888,517$0$0$6,112,788
100$9,598,946$0$0$6,604,178