Can I retire at age 56 with 753,000?

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 $753,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$62,182$61,628$61,088$60,560$60,045$58,546
2 years$30,783$30,210$29,654$29,116$28,593$27,092
3 years$20,318$19,742$19,188$18,655$18,141$16,685
4 years$15,087$14,513$13,964$13,440$12,938$11,539
5 years$11,949$11,378$10,837$10,323$9,835$8,496
6 years$9,857$9,291$8,758$8,255$7,782$6,505
7 years$8,364$7,803$7,278$6,787$6,329$5,114
8 years$7,245$6,688$6,172$5,694$5,251$4,096
9 years$6,375$5,823$5,316$4,850$4,422$3,328
10 years$5,679$5,133$4,635$4,180$3,768$2,732
11 years$5,110$4,570$4,080$3,638$3,240$2,263
12 years$4,636$4,101$3,621$3,191$2,808$1,886
13 years$4,236$3,707$3,235$2,817$2,449$1,581
14 years$3,893$3,369$2,907$2,501$2,146$1,331
15 years$3,596$3,078$2,624$2,230$1,890$1,124
16 years$3,336$2,824$2,379$1,997$1,670$952
17 years$3,107$2,601$2,165$1,794$1,481$809
18 years$2,904$2,403$1,977$1,617$1,317$689
19 years$2,722$2,227$1,809$1,461$1,174$587
20 years$2,559$2,070$1,661$1,323$1,048$501
21 years$2,412$1,928$1,527$1,201$938$429
22 years$2,278$1,799$1,408$1,092$841$367
23 years$2,156$1,683$1,300$995$755$314
24 years$2,044$1,577$1,202$907$678$270
25 years$1,941$1,480$1,113$828$611$231
26 years$1,847$1,391$1,033$757$550$198
27 years$1,759$1,309$959$693$496$170
28 years$1,678$1,233$891$635$447$146
29 years$1,603$1,164$830$583$404$126
30 years$1,533$1,099$773$535$365$108
31 years$1,467$1,039$720$491$330$93
32 years$1,406$983$672$451$299$80
33 years$1,349$931$628$415$270$69
34 years$1,295$882$586$382$245$59
35 years$1,244$837$548$351$222$51
36 years$1,196$794$513$324$201$44
37 years$1,151$754$480$298$182$38
38 years$1,108$717$449$275$165$33
39 years$1,068$682$421$253$150$28
40 years$1,029$649$395$234$136$24
41 years$993$617$370$216$123$21
42 years$959$588$347$199$112$18
43 years$926$560$326$184$101$15
44 years$895$534$306$170$92$13
45 years$865$509$287$157$84$11
46 years$837$486$270$145$76$10
47 years$809$464$253$134$69$8
48 years$784$443$238$124$63$7
49 years$759$423$224$114$57$6
50 years$735$404$210$106$52$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $753,000, adding $6,431 every year, while hoping to spend $55,756 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: 41/48/11 Blend
55$753,000$753,000$753,000$753,000
56$836,440$796,531$784,859$867,758
57$862,432$776,237$751,828$870,081
58$889,208$753,080$715,821$866,555
59$916,787$726,860$676,681$861,497
60$945,191$697,368$634,242$854,793
61$974,441$664,379$588,329$846,320
62$1,004,559$627,659$538,763$835,950
63$1,035,567$586,957$485,355$823,544
64$1,067,486$542,010$427,906$808,959
65$1,100,340$492,539$366,211$792,040
66$1,134,150$438,249$300,055$772,624
67$1,168,938$378,828$229,211$750,539
68$1,204,727$313,947$153,446$725,602
69$1,241,537$243,258$72,515$697,622
70$1,279,391$166,395$0$666,392
71$1,318,309$82,969$0$633,325
72$1,358,312$0$0$605,752
73$1,399,419$0$0$578,871
74$1,441,651$0$0$596,269
75$1,485,024$0$0$614,130
76$1,529,555$0$0$632,460
77$1,575,259$0$0$651,264
78$1,622,151$0$0$670,546
79$1,670,241$0$0$690,309
80$1,719,540$0$0$710,557
81$1,770,053$0$0$731,289
82$1,821,785$0$0$752,506
83$1,874,737$0$0$774,206
84$1,928,903$0$0$796,386
85$1,984,278$0$0$819,038
86$2,040,847$0$0$842,156
87$2,098,593$0$0$865,729
88$2,157,491$0$0$889,743
89$2,217,509$0$0$914,181
90$2,278,607$0$0$939,022
91$2,340,737$0$0$964,243
92$2,403,840$0$0$989,814
93$2,467,846$0$0$1,015,700
94$2,532,674$0$0$1,041,862
95$2,598,228$0$0$1,068,253
96$2,664,395$0$0$1,094,820
97$2,731,047$0$0$1,121,501
98$2,798,037$0$0$1,148,227
99$2,865,195$0$0$1,174,917
100$2,932,328$0$0$1,201,480