Can I retire at age 56 with 755,000?

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 $755,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$62,347$61,792$61,250$60,721$60,205$57,999
2 years$30,865$30,290$29,733$29,193$28,669$26,472
3 years$20,372$19,795$19,239$18,704$18,189$16,069
4 years$15,127$14,551$14,001$13,475$12,972$10,946
5 years$11,981$11,408$10,866$10,350$9,861$7,933
6 years$9,884$9,316$8,781$8,277$7,803$5,975
7 years$8,386$7,823$7,297$6,805$6,346$4,617
8 years$7,264$6,706$6,188$5,709$5,265$3,634
9 years$6,392$5,839$5,330$4,863$4,434$2,899
10 years$5,694$5,147$4,647$4,192$3,778$2,336
11 years$5,124$4,582$4,091$3,648$3,249$1,897
12 years$4,649$4,112$3,631$3,200$2,815$1,550
13 years$4,247$3,716$3,244$2,825$2,455$1,273
14 years$3,903$3,378$2,915$2,508$2,152$1,050
15 years$3,605$3,086$2,631$2,236$1,895$868
16 years$3,345$2,831$2,386$2,002$1,675$720
17 years$3,115$2,608$2,171$1,799$1,485$598
18 years$2,912$2,409$1,982$1,621$1,320$498
19 years$2,730$2,233$1,814$1,465$1,177$415
20 years$2,566$2,075$1,665$1,327$1,051$346
21 years$2,418$1,933$1,532$1,204$941$289
22 years$2,284$1,804$1,412$1,095$843$242
23 years$2,161$1,687$1,303$997$757$202
24 years$2,049$1,581$1,205$909$680$170
25 years$1,947$1,484$1,116$831$612$142
26 years$1,852$1,394$1,035$759$551$119
27 years$1,764$1,312$961$695$497$100
28 years$1,683$1,237$894$637$449$84
29 years$1,607$1,167$832$584$405$70
30 years$1,537$1,102$775$536$366$59
31 years$1,471$1,042$722$492$331$49
32 years$1,410$985$674$452$299$41
33 years$1,352$933$629$416$271$35
34 years$1,298$885$588$383$245$29
35 years$1,247$839$550$352$222$24
36 years$1,199$796$514$325$201$21
37 years$1,154$756$481$299$182$17
38 years$1,111$719$451$276$165$14
39 years$1,071$683$422$254$150$12
40 years$1,032$650$396$234$136$10
41 years$996$619$371$216$123$9
42 years$961$590$348$200$112$7
43 years$928$562$327$184$102$6
44 years$897$535$307$170$92$5
45 years$867$511$288$157$84$4
46 years$839$487$270$145$76$4
47 years$812$465$254$134$69$3
48 years$786$444$239$124$63$3
49 years$761$424$224$114$57$2
50 years$737$405$211$106$52$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $755,000, adding $3,381 every year, while hoping to spend $23,947 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: 61/33/6 Blend
55$755,000$755,000$755,000$755,000
56$835,498$795,483$783,780$885,332
57$895,239$808,982$784,557$932,542
58$960,271$822,340$784,558$980,946
59$1,031,109$835,525$783,731$1,033,144
60$1,108,318$848,501$782,022$1,089,501
61$1,192,522$861,233$779,375$1,150,418
62$1,284,406$873,680$775,730$1,216,340
63$1,384,725$885,800$771,027$1,287,756
64$1,494,309$897,547$765,199$1,365,204
65$1,614,074$908,872$758,179$1,449,277
66$1,745,027$919,724$749,894$1,540,632
67$1,888,275$930,046$740,272$1,639,988
68$2,045,041$939,780$729,232$1,748,142
69$2,216,667$948,861$716,694$1,865,970
70$2,404,635$957,224$702,571$1,994,438
71$2,610,575$964,794$686,774$2,134,613
72$2,836,281$971,497$669,209$2,287,668
73$3,083,732$977,250$649,777$2,454,898
74$3,355,104$981,967$628,376$2,637,732
75$3,652,796$985,555$604,899$2,837,742
76$3,979,451$987,917$579,232$3,056,665
77$4,337,977$988,947$551,258$3,296,411
78$4,731,581$988,535$520,855$3,559,092
79$5,163,792$986,564$487,895$3,847,030
80$5,638,502$982,908$452,242$4,162,791
81$6,159,993$977,435$413,756$4,509,199
82$6,732,988$970,005$372,292$4,889,370
83$7,362,685$960,467$327,697$5,306,738
84$8,054,814$948,665$279,809$5,765,090
85$8,815,685$934,430$228,463$6,268,600
86$9,652,253$917,585$173,485$6,821,871
87$10,572,178$897,941$114,691$7,429,976
88$11,583,900$875,300$51,893$8,098,508
89$12,696,718$849,451$0$8,833,632
90$13,920,879$820,169$0$9,643,115
91$15,267,670$787,220$0$10,537,090
92$16,749,531$750,352$0$11,520,506
93$18,380,165$709,300$0$12,602,484
94$20,174,672$663,787$0$13,793,077
95$22,149,690$613,514$0$15,103,368
96$24,323,552$558,170$0$16,545,571
97$26,716,458$497,424$0$18,133,151
98$29,350,665$430,926$0$19,880,949
99$32,250,699$358,307$0$21,805,324
100$35,443,584$279,178$0$23,924,307