Can I retire at age 56 with 756,000?

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 $756,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$62,430$61,874$61,331$60,802$60,285$58,947
2 years$30,906$30,330$29,772$29,232$28,707$27,366
3 years$20,399$19,821$19,265$18,729$18,213$16,911
4 years$15,147$14,571$14,020$13,493$12,990$11,737
5 years$11,996$11,424$10,880$10,364$9,874$8,674
6 years$9,897$9,328$8,793$8,288$7,813$6,666
7 years$8,398$7,834$7,307$6,814$6,354$5,261
8 years$7,274$6,715$6,197$5,716$5,272$4,232
9 years$6,400$5,847$5,337$4,869$4,439$3,452
10 years$5,701$5,154$4,653$4,197$3,783$2,847
11 years$5,130$4,588$4,096$3,653$3,253$2,368
12 years$4,655$4,118$3,636$3,204$2,819$1,983
13 years$4,253$3,721$3,248$2,829$2,458$1,670
14 years$3,908$3,383$2,918$2,511$2,155$1,412
15 years$3,610$3,090$2,635$2,239$1,897$1,199
16 years$3,349$2,835$2,389$2,005$1,677$1,021
17 years$3,120$2,611$2,174$1,802$1,487$872
18 years$2,916$2,413$1,984$1,624$1,322$746
19 years$2,733$2,236$1,817$1,467$1,178$639
20 years$2,569$2,078$1,667$1,329$1,053$549
21 years$2,421$1,935$1,534$1,206$942$472
22 years$2,287$1,807$1,413$1,096$844$406
23 years$2,164$1,690$1,305$998$758$350
24 years$2,052$1,583$1,207$911$681$301
25 years$1,949$1,486$1,118$832$613$260
26 years$1,854$1,396$1,037$760$552$225
27 years$1,766$1,314$963$696$498$194
28 years$1,685$1,238$895$638$449$168
29 years$1,609$1,168$833$585$406$145
30 years$1,539$1,103$776$537$366$125
31 years$1,473$1,043$723$493$331$108
32 years$1,412$987$675$453$300$94
33 years$1,354$935$630$417$271$81
34 years$1,300$886$589$383$246$70
35 years$1,249$840$550$353$222$61
36 years$1,201$797$515$325$202$53
37 years$1,155$757$482$299$183$46
38 years$1,113$720$451$276$166$39
39 years$1,072$684$423$254$150$34
40 years$1,034$651$396$235$136$30
41 years$997$620$372$217$124$26
42 years$962$590$349$200$112$22
43 years$930$562$327$184$102$19
44 years$898$536$307$170$92$17
45 years$868$511$288$157$84$14
46 years$840$488$271$145$76$13
47 years$813$465$254$134$69$11
48 years$787$444$239$124$63$9
49 years$762$424$225$115$57$8
50 years$738$405$211$106$52$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $756,000, adding $6,897 every year, while hoping to spend $41,930 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: 47/37/16 Blend
55$756,000$756,000$756,000$756,000
56$840,226$800,158$788,440$875,621
57$881,316$794,753$770,240$895,490
58$925,192$787,677$750,024$912,226
59$972,093$778,805$727,682$929,484
60$1,022,284$768,003$703,096$947,328
61$1,076,051$755,130$676,144$965,833
62$1,133,711$740,035$646,698$985,083
63$1,195,612$722,559$614,625$1,005,175
64$1,262,134$702,534$579,785$1,026,217
65$1,333,696$679,781$542,031$1,048,332
66$1,410,755$654,113$501,211$1,071,660
67$1,493,817$625,329$457,167$1,096,359
68$1,583,434$593,219$409,730$1,122,605
69$1,680,216$557,558$358,728$1,150,599
70$1,784,831$518,111$303,978$1,180,565
71$1,898,014$474,629$245,291$1,212,755
72$2,020,571$426,846$182,468$1,247,454
73$2,153,392$374,483$115,303$1,284,977
74$2,297,452$317,247$43,580$1,325,681
75$2,453,825$254,826$0$1,369,964
76$2,623,693$186,889$0$1,423,899
77$2,808,354$113,091$0$1,490,661
78$3,009,236$33,063$0$1,563,399
79$3,227,914$0$0$1,642,779
80$3,466,116$0$0$1,751,351
81$3,725,747$0$0$1,884,442
82$4,008,902$0$0$2,029,673
83$4,317,888$0$0$2,188,238
84$4,655,243$0$0$2,361,450
85$5,023,760$0$0$2,550,755
86$5,426,518$0$0$2,757,745
87$5,866,903$0$0$2,984,173
88$6,348,643$0$0$3,231,968
89$6,875,846$0$0$3,503,255
90$7,453,032$0$0$3,800,375
91$8,085,180$0$0$4,125,905
92$8,777,774$0$0$4,482,682
93$9,536,850$0$0$4,873,833
94$10,369,061$0$0$5,302,799
95$11,281,730$0$0$5,773,372
96$12,282,924$0$0$6,289,730
97$13,381,530$0$0$6,856,471
98$14,587,334$0$0$7,478,663
99$15,911,119$0$0$8,161,888
100$17,364,760$0$0$8,912,294