Can I retire at age 56 with 748,000?

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 $748,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$61,769$61,219$60,682$60,158$59,647$57,280
2 years$30,579$30,009$29,457$28,922$28,403$26,048
3 years$20,183$19,611$19,061$18,531$18,020$15,751
4 years$14,987$14,416$13,871$13,350$12,852$10,686
5 years$11,869$11,303$10,765$10,254$9,770$7,712
6 years$9,792$9,229$8,700$8,200$7,731$5,783
7 years$8,309$7,751$7,229$6,742$6,287$4,449
8 years$7,197$6,644$6,131$5,656$5,216$3,485
9 years$6,332$5,785$5,281$4,817$4,392$2,766
10 years$5,641$5,099$4,604$4,153$3,743$2,218
11 years$5,076$4,539$4,053$3,614$3,219$1,792
12 years$4,605$4,074$3,597$3,170$2,789$1,456
13 years$4,208$3,682$3,214$2,799$2,432$1,189
14 years$3,867$3,347$2,888$2,484$2,132$975
15 years$3,572$3,057$2,607$2,216$1,877$802
16 years$3,314$2,805$2,364$1,984$1,659$661
17 years$3,087$2,583$2,151$1,782$1,471$546
18 years$2,885$2,387$1,963$1,606$1,308$452
19 years$2,704$2,212$1,797$1,451$1,166$374
20 years$2,542$2,056$1,650$1,315$1,041$311
21 years$2,396$1,915$1,517$1,193$932$258
22 years$2,263$1,788$1,398$1,085$835$214
23 years$2,141$1,672$1,291$988$750$178
24 years$2,030$1,566$1,194$901$674$148
25 years$1,928$1,470$1,106$823$606$123
26 years$1,834$1,382$1,026$752$546$103
27 years$1,748$1,300$953$689$493$86
28 years$1,667$1,225$886$631$444$71
29 years$1,592$1,156$824$579$401$59
30 years$1,523$1,092$768$531$363$49
31 years$1,458$1,032$716$488$328$41
32 years$1,397$976$668$448$297$34
33 years$1,340$925$623$412$268$29
34 years$1,286$876$582$379$243$24
35 years$1,236$831$545$349$220$20
36 years$1,188$789$509$322$199$17
37 years$1,143$749$477$296$181$14
38 years$1,101$712$447$273$164$12
39 years$1,061$677$418$252$149$10
40 years$1,023$644$392$232$135$8
41 years$987$613$368$214$122$7
42 years$952$584$345$198$111$6
43 years$920$556$324$183$101$5
44 years$889$530$304$169$91$4
45 years$859$506$285$156$83$3
46 years$831$483$268$144$75$3
47 years$804$460$252$133$68$2
48 years$778$440$237$123$62$2
49 years$754$420$222$113$56$2
50 years$730$401$209$105$51$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $748,000, adding $4,811 every year, while hoping to spend $30,241 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: 56/19/25 Blend
55$748,000$748,000$748,000$748,000
56$829,259$789,615$778,021$869,780
57$881,667$796,129$771,908$904,619
58$938,407$801,950$764,577$938,977
59$999,889$807,010$755,955$975,778
60$1,066,564$811,240$745,966$1,015,267
61$1,138,928$814,565$734,530$1,057,715
62$1,217,525$816,905$721,563$1,103,421
63$1,302,956$818,177$706,979$1,152,716
64$1,395,879$818,290$690,685$1,205,965
65$1,497,022$817,149$672,586$1,263,572
66$1,607,182$814,653$652,581$1,325,985
67$1,727,239$810,695$630,567$1,393,698
68$1,858,159$805,161$606,432$1,467,256
69$2,001,007$797,930$580,064$1,547,263
70$2,156,956$788,874$551,342$1,634,386
71$2,327,294$777,858$520,141$1,729,362
72$2,513,443$764,737$486,330$1,833,004
73$2,716,964$749,360$449,772$1,946,211
74$2,939,580$731,564$410,325$2,069,977
75$3,183,185$711,179$367,840$2,205,399
76$3,449,867$688,024$322,159$2,353,689
77$3,741,924$661,907$273,121$2,516,184
78$4,061,885$632,626$220,556$2,694,362
79$4,412,539$599,965$164,286$2,889,855
80$4,796,954$563,700$104,126$3,104,463
81$5,218,511$523,589$39,882$3,340,175
82$5,680,933$479,379$0$3,599,187
83$6,188,322$430,802$0$3,891,571
84$6,745,194$377,574$0$4,224,202
85$7,356,525$319,397$0$4,589,442
86$8,027,797$255,953$0$4,990,609
87$8,765,047$186,910$0$5,431,362
88$9,574,927$111,913$0$5,915,736
89$10,464,763$30,591$0$6,448,177
90$11,442,628$0$0$7,033,587
91$12,517,416$0$0$7,689,384
92$13,698,922$0$0$8,417,401
93$14,997,940$0$0$9,217,903
94$16,426,363$0$0$10,098,226
95$17,997,292$0$0$11,066,455
96$19,725,163$0$0$12,131,497
97$21,625,878$0$0$13,303,166
98$23,716,962$0$0$14,592,274
99$26,017,722$0$0$16,010,735
100$28,549,431$0$0$17,571,676