Can I retire at age 56 with 753,000?

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 $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%18.3%
1 years$62,182$61,628$61,088$60,560$60,045$58,030
2 years$30,783$30,210$29,654$29,116$28,593$26,583
3 years$20,318$19,742$19,188$18,655$18,141$16,198
4 years$15,087$14,513$13,964$13,440$12,938$11,079
5 years$11,949$11,378$10,837$10,323$9,835$8,064
6 years$9,857$9,291$8,758$8,255$7,782$6,100
7 years$8,364$7,803$7,278$6,787$6,329$4,735
8 years$7,245$6,688$6,172$5,694$5,251$3,745
9 years$6,375$5,823$5,316$4,850$4,422$3,002
10 years$5,679$5,133$4,635$4,180$3,768$2,431
11 years$5,110$4,570$4,080$3,638$3,240$1,985
12 years$4,636$4,101$3,621$3,191$2,808$1,631
13 years$4,236$3,707$3,235$2,817$2,449$1,346
14 years$3,893$3,369$2,907$2,501$2,146$1,116
15 years$3,596$3,078$2,624$2,230$1,890$928
16 years$3,336$2,824$2,379$1,997$1,670$774
17 years$3,107$2,601$2,165$1,794$1,481$647
18 years$2,904$2,403$1,977$1,617$1,317$542
19 years$2,722$2,227$1,809$1,461$1,174$455
20 years$2,559$2,070$1,661$1,323$1,048$382
21 years$2,412$1,928$1,527$1,201$938$321
22 years$2,278$1,799$1,408$1,092$841$270
23 years$2,156$1,683$1,300$995$755$227
24 years$2,044$1,577$1,202$907$678$192
25 years$1,941$1,480$1,113$828$611$161
26 years$1,847$1,391$1,033$757$550$136
27 years$1,759$1,309$959$693$496$115
28 years$1,678$1,233$891$635$447$97
29 years$1,603$1,164$830$583$404$82
30 years$1,533$1,099$773$535$365$69
31 years$1,467$1,039$720$491$330$58
32 years$1,406$983$672$451$299$49
33 years$1,349$931$628$415$270$42
34 years$1,295$882$586$382$245$35
35 years$1,244$837$548$351$222$30
36 years$1,196$794$513$324$201$25
37 years$1,151$754$480$298$182$21
38 years$1,108$717$449$275$165$18
39 years$1,068$682$421$253$150$15
40 years$1,029$649$395$234$136$13
41 years$993$617$370$216$123$11
42 years$959$588$347$199$112$9
43 years$926$560$326$184$101$8
44 years$895$534$306$170$92$7
45 years$865$509$287$157$84$6
46 years$837$486$270$145$76$5
47 years$809$464$253$134$69$4
48 years$784$443$238$124$63$3
49 years$759$423$224$114$57$3
50 years$735$404$210$106$52$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $753,000, adding $3,463 every year, while hoping to spend $27,206 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: 67/13/20 Blend
55$753,000$753,000$753,000$753,000
56$833,378$793,469$781,798$884,829
57$889,436$803,402$779,041$929,650
58$950,299$812,910$775,280$975,182
59$1,016,430$821,943$770,452$1,024,320
60$1,088,337$830,449$764,493$1,077,418
61$1,166,577$838,371$757,333$1,134,868
62$1,251,765$845,648$748,901$1,197,099
63$1,344,578$852,218$739,122$1,264,588
64$1,445,759$858,011$727,917$1,337,857
65$1,556,128$862,955$715,204$1,417,486
66$1,676,586$866,972$700,896$1,504,110
67$1,808,125$869,981$684,904$1,598,434
68$1,951,838$871,895$667,132$1,701,231
69$2,108,927$872,619$647,482$1,813,358
70$2,280,716$872,056$625,851$1,935,757
71$2,468,663$870,100$602,131$2,069,467
72$2,674,373$866,642$576,209$2,215,635
73$2,899,614$861,561$547,966$2,375,527
74$3,146,331$854,734$517,280$2,550,536
75$3,416,668$846,028$484,021$2,742,201
76$3,712,987$835,302$448,054$2,952,217
77$4,037,886$822,406$409,238$3,182,456
78$4,394,229$807,183$367,426$3,434,978
79$4,785,171$789,465$322,465$3,712,058
80$5,214,184$769,075$274,194$4,016,205
81$5,685,096$745,825$222,445$4,350,182
82$6,202,122$719,516$167,042$4,717,040
83$6,769,904$689,939$107,804$5,120,139
84$7,393,558$656,869$44,539$5,563,188
85$8,078,718$620,073$0$6,050,272
86$8,831,592$579,301$0$6,590,802
87$9,659,017$534,289$0$7,195,304
88$10,568,527$484,760$0$7,859,787
89$11,568,423$430,419$0$8,590,341
90$12,667,848$370,955$0$9,393,673
91$13,876,877$306,041$0$10,277,177
92$15,206,609$235,328$0$11,249,001
93$16,669,274$158,450$0$12,318,123
94$18,278,347$75,020$0$13,494,439
95$20,048,672$0$0$14,788,855
96$21,996,607$0$0$16,215,586
97$24,140,175$0$0$17,797,468
98$26,499,235$0$0$19,538,431
99$29,095,666$0$0$21,454,630
100$31,953,579$0$0$23,563,863