Can I retire at age 56 with 747,000?

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 $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%12.1%
1 years$61,687$61,137$60,601$60,078$59,567$59,043
2 years$30,538$29,969$29,418$28,884$28,365$27,837
3 years$20,156$19,585$19,035$18,506$17,996$17,481
4 years$14,967$14,397$13,853$13,333$12,835$12,336
5 years$11,854$11,288$10,750$10,241$9,757$9,276
6 years$9,779$9,217$8,688$8,190$7,720$7,257
7 years$8,298$7,741$7,220$6,733$6,279$5,834
8 years$7,187$6,635$6,123$5,648$5,209$4,783
9 years$6,324$5,777$5,274$4,811$4,387$3,979
10 years$5,634$5,092$4,598$4,147$3,738$3,348
11 years$5,069$4,533$4,048$3,609$3,214$2,843
12 years$4,599$4,069$3,592$3,166$2,786$2,432
13 years$4,202$3,677$3,209$2,795$2,429$2,092
14 years$3,862$3,342$2,884$2,481$2,129$1,809
15 years$3,567$3,053$2,604$2,213$1,875$1,571
16 years$3,309$2,801$2,361$1,981$1,657$1,369
17 years$3,082$2,580$2,148$1,780$1,469$1,196
18 years$2,881$2,384$1,961$1,604$1,306$1,048
19 years$2,701$2,209$1,795$1,450$1,164$921
20 years$2,539$2,053$1,647$1,313$1,040$810
21 years$2,392$1,912$1,515$1,191$931$714
22 years$2,260$1,785$1,397$1,083$834$630
23 years$2,139$1,670$1,289$987$749$557
24 years$2,028$1,564$1,193$900$673$492
25 years$1,926$1,468$1,105$822$606$436
26 years$1,832$1,380$1,024$751$546$386
27 years$1,745$1,298$951$688$492$343
28 years$1,665$1,224$884$630$444$304
29 years$1,590$1,154$823$578$401$270
30 years$1,521$1,090$767$530$362$240
31 years$1,456$1,030$715$487$327$213
32 years$1,395$975$667$448$296$190
33 years$1,338$923$623$412$268$169
34 years$1,284$875$582$379$243$150
35 years$1,234$830$544$349$220$134
36 years$1,186$788$509$321$199$119
37 years$1,142$748$476$296$180$106
38 years$1,099$711$446$273$164$94
39 years$1,059$676$418$251$148$84
40 years$1,021$643$392$232$135$75
41 years$985$612$367$214$122$67
42 years$951$583$344$197$111$59
43 years$919$556$323$182$101$53
44 years$888$530$303$168$91$47
45 years$858$505$285$155$83$42
46 years$830$482$268$144$75$38
47 years$803$460$251$133$68$33
48 years$777$439$236$123$62$30
49 years$753$419$222$113$56$27
50 years$729$400$209$105$51$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $747,000, adding $6,927 every year, while hoping to spend $42,065 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: 41/40/19 Blend
55$747,000$747,000$747,000$747,000
56$830,339$790,748$779,170$859,479
57$870,277$784,738$760,515$874,857
58$912,879$777,024$739,826$886,901
59$958,371$767,477$716,989$899,064
60$1,007,004$755,962$691,887$911,378
61$1,059,050$742,336$664,397$923,883
62$1,114,809$726,446$634,390$936,624
63$1,174,609$708,131$601,731$949,657
64$1,238,810$687,221$566,280$963,044
65$1,307,808$663,534$527,890$976,860
66$1,382,037$636,880$486,407$991,191
67$1,461,974$607,056$441,671$1,006,135
68$1,548,142$573,848$393,513$1,021,807
69$1,641,115$537,030$341,759$1,038,338
70$1,741,527$496,362$286,226$1,055,875
71$1,850,070$451,592$226,722$1,074,590
72$1,967,509$402,451$163,049$1,094,676
73$2,094,682$348,658$94,997$1,116,353
74$2,232,510$289,913$22,351$1,139,869
75$2,382,008$225,901$0$1,165,506
76$2,544,291$156,288$0$1,204,766
77$2,720,586$80,723$0$1,252,386
78$2,912,241$0$0$1,304,282
79$3,120,741$0$0$1,361,472
80$3,347,718$0$0$1,462,496
81$3,594,970$0$0$1,572,633
82$3,864,474$0$0$1,692,773
83$4,158,407$0$0$1,823,899
84$4,479,162$0$0$1,967,092
85$4,829,378$0$0$2,123,541
86$5,211,955$0$0$2,294,556
87$5,630,090$0$0$2,481,577
88$6,087,300$0$0$2,686,194
89$6,587,458$0$0$2,910,155
90$7,134,829$0$0$3,155,383
91$7,734,108$0$0$3,423,998
92$8,390,467$0$0$3,718,336
93$9,109,600$0$0$4,040,966
94$9,897,778$0$0$4,394,721
95$10,761,910$0$0$4,782,718
96$11,709,601$0$0$5,208,392
97$12,749,231$0$0$5,675,527
98$13,890,029$0$0$6,188,290
99$15,142,159$0$0$6,751,272
100$16,516,821$0$0$7,369,528