Can I retire at age 56 with 751,000?

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 $751,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$62,017$61,464$60,926$60,399$59,886$57,992
2 years$30,701$30,130$29,575$29,038$28,517$26,626
3 years$20,264$19,690$19,137$18,605$18,092$16,264
4 years$15,047$14,474$13,927$13,404$12,904$11,152
5 years$11,917$11,348$10,808$10,295$9,809$8,138
6 years$9,831$9,266$8,734$8,233$7,762$6,173
7 years$8,342$7,782$7,258$6,769$6,312$4,806
8 years$7,226$6,671$6,156$5,678$5,237$3,812
9 years$6,358$5,808$5,302$4,837$4,410$3,065
10 years$5,664$5,119$4,622$4,169$3,758$2,490
11 years$5,096$4,558$4,069$3,629$3,232$2,039
12 years$4,624$4,091$3,611$3,183$2,800$1,681
13 years$4,224$3,697$3,227$2,810$2,442$1,393
14 years$3,882$3,360$2,899$2,494$2,141$1,159
15 years$3,586$3,070$2,618$2,224$1,885$967
16 years$3,327$2,816$2,373$1,992$1,666$810
17 years$3,099$2,594$2,159$1,790$1,477$679
18 years$2,896$2,397$1,971$1,613$1,313$571
19 years$2,715$2,221$1,805$1,457$1,171$481
20 years$2,552$2,064$1,656$1,320$1,046$405
21 years$2,405$1,923$1,523$1,198$936$342
22 years$2,272$1,795$1,404$1,089$839$289
23 years$2,150$1,679$1,296$992$753$244
24 years$2,039$1,573$1,199$905$677$206
25 years$1,936$1,476$1,110$826$609$175
26 years$1,842$1,387$1,030$755$548$148
27 years$1,755$1,305$956$691$495$125
28 years$1,674$1,230$889$634$446$106
29 years$1,599$1,160$827$581$403$90
30 years$1,529$1,096$771$533$364$76
31 years$1,463$1,036$718$490$329$65
32 years$1,402$980$670$450$298$55
33 years$1,345$928$626$414$269$47
34 years$1,291$880$585$381$244$39
35 years$1,240$835$547$351$221$34
36 years$1,193$792$511$323$200$28
37 years$1,148$752$479$297$181$24
38 years$1,105$715$448$274$165$20
39 years$1,065$680$420$253$149$17
40 years$1,027$647$394$233$135$15
41 years$991$616$369$215$123$13
42 years$956$586$346$199$111$11
43 years$923$559$325$183$101$9
44 years$892$533$305$169$92$8
45 years$863$508$286$156$83$6
46 years$834$484$269$144$76$6
47 years$807$462$253$133$69$5
48 years$782$441$237$123$62$4
49 years$757$421$223$114$57$3
50 years$733$403$210$105$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $751,000, adding $6,391 every year, while hoping to spend $41,471 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: 47/23/30 Blend
55$751,000$751,000$751,000$751,000
56$834,194$794,391$782,751$865,961
57$875,157$789,192$764,848$883,885
58$918,909$782,347$744,956$898,822
59$965,689$773,734$722,963$914,254
60$1,015,762$763,219$698,755$930,249
61$1,069,417$750,664$672,211$946,885
62$1,126,971$735,921$643,204$964,253
63$1,188,772$718,831$611,601$982,453
64$1,255,204$699,230$577,266$1,001,602
65$1,326,684$676,942$540,054$1,021,829
66$1,403,674$651,781$499,814$1,043,281
67$1,486,679$623,548$456,389$1,066,125
68$1,576,256$592,038$409,613$1,090,546
69$1,673,014$557,028$359,315$1,116,755
70$1,777,625$518,286$305,316$1,144,987
71$1,890,826$475,565$247,428$1,175,507
72$2,013,428$428,606$185,454$1,208,611
73$2,146,323$377,132$119,192$1,244,632
74$2,290,489$320,853$48,426$1,283,941
75$2,447,006$259,462$0$1,326,952
76$2,617,058$192,633$0$1,382,803
77$2,801,950$120,024$0$1,460,444
78$3,003,117$41,273$0$1,545,013
79$3,222,136$0$0$1,637,236
80$3,460,746$0$0$1,749,050
81$3,720,857$0$0$1,882,405
82$4,004,574$0$0$2,027,943
83$4,314,212$0$0$2,186,861
84$4,652,320$0$0$2,360,480
85$5,021,703$0$0$2,550,251
86$5,425,452$0$0$2,757,772
87$5,866,966$0$0$2,984,802
88$6,349,990$0$0$3,233,281
89$6,878,648$0$0$3,505,342
90$7,457,478$0$0$3,803,334
91$8,091,482$0$0$4,129,845
92$8,786,164$0$0$4,487,725
93$9,547,588$0$0$4,880,113
94$10,382,433$0$0$5,310,466
95$11,298,053$0$0$5,782,592
96$12,302,549$0$0$6,300,683
97$13,404,845$0$0$6,869,360
98$14,614,769$0$0$7,493,712
99$15,943,149$0$0$8,179,343
100$17,401,909$0$0$8,932,429