Can I retire at age 56 with 758,000?

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 $758,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$62,595$62,037$61,493$60,962$60,444$58,138
2 years$30,988$30,410$29,851$29,309$28,783$26,486
3 years$20,453$19,874$19,316$18,778$18,261$16,047
4 years$15,187$14,609$14,057$13,529$13,024$10,909
5 years$12,028$11,454$10,909$10,391$9,901$7,890
6 years$9,923$9,353$8,816$8,310$7,834$5,929
7 years$8,420$7,855$7,326$6,832$6,371$4,571
8 years$7,293$6,733$6,213$5,731$5,285$3,589
9 years$6,417$5,862$5,351$4,882$4,451$2,856
10 years$5,717$5,167$4,665$4,208$3,793$2,296
11 years$5,144$4,600$4,107$3,662$3,262$1,860
12 years$4,667$4,129$3,645$3,212$2,827$1,516
13 years$4,264$3,731$3,257$2,836$2,465$1,241
14 years$3,919$3,392$2,926$2,518$2,161$1,020
15 years$3,620$3,098$2,642$2,245$1,902$842
16 years$3,358$2,843$2,395$2,010$1,681$696
17 years$3,128$2,618$2,180$1,806$1,491$576
18 years$2,923$2,419$1,990$1,628$1,326$478
19 years$2,741$2,242$1,821$1,471$1,181$398
20 years$2,576$2,083$1,672$1,332$1,055$331
21 years$2,428$1,941$1,538$1,209$944$276
22 years$2,293$1,811$1,417$1,099$847$230
23 years$2,170$1,694$1,308$1,001$760$192
24 years$2,058$1,587$1,210$913$683$160
25 years$1,954$1,490$1,121$834$615$133
26 years$1,859$1,400$1,040$762$554$111
27 years$1,771$1,318$965$698$499$93
28 years$1,689$1,242$897$639$450$78
29 years$1,614$1,171$835$586$407$65
30 years$1,543$1,106$778$538$367$54
31 years$1,477$1,046$725$494$332$45
32 years$1,415$989$677$454$301$38
33 years$1,357$937$632$418$272$32
34 years$1,303$888$590$384$246$27
35 years$1,252$842$552$354$223$22
36 years$1,204$799$516$326$202$19
37 years$1,158$759$483$300$183$16
38 years$1,115$722$452$277$166$13
39 years$1,075$686$424$255$151$11
40 years$1,036$653$397$235$137$9
41 years$1,000$621$373$217$124$8
42 years$965$592$349$200$112$6
43 years$932$564$328$185$102$5
44 years$901$538$308$171$93$4
45 years$871$513$289$158$84$4
46 years$842$489$271$146$76$3
47 years$815$467$255$135$69$3
48 years$789$445$240$124$63$2
49 years$764$425$225$115$57$2
50 years$740$406$212$106$52$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $758,000, adding $4,501 every year, while hoping to spend $54,121 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: 70/12/18 Blend
55$758,000$758,000$758,000$758,000
56$839,959$799,785$788,036$894,833
57$868,050$781,390$756,851$913,570
58$897,193$760,280$722,807$927,211
59$927,438$736,264$685,752$940,781
60$958,837$709,142$645,525$954,266
61$991,448$678,700$601,960$967,652
62$1,025,332$644,713$554,882$980,925
63$1,060,555$606,942$504,109$994,072
64$1,097,185$565,135$449,450$1,007,079
65$1,135,297$519,027$390,707$1,019,935
66$1,174,973$468,334$327,670$1,032,626
67$1,216,297$412,759$260,124$1,045,142
68$1,259,363$351,988$187,842$1,057,473
69$1,304,270$285,688$110,587$1,069,609
70$1,351,126$213,507$28,112$1,081,544
71$1,400,046$135,075$0$1,093,273
72$1,451,157$49,999$0$1,116,297
73$1,504,592$0$0$1,145,623
74$1,560,498$0$0$1,181,466
75$1,619,034$0$0$1,225,917
76$1,680,370$0$0$1,272,507
77$1,744,692$0$0$1,321,378
78$1,812,203$0$0$1,372,685
79$1,883,120$0$0$1,426,595
80$1,957,683$0$0$1,483,292
81$2,036,149$0$0$1,542,975
82$2,118,800$0$0$1,605,859
83$2,205,943$0$0$1,672,181
84$2,297,912$0$0$1,742,197
85$2,395,071$0$0$1,816,187
86$2,497,817$0$0$1,894,458
87$2,606,585$0$0$1,977,342
88$2,721,848$0$0$2,065,204
89$2,844,123$0$0$2,158,443
90$2,973,977$0$0$2,257,494
91$3,112,029$0$0$2,362,833
92$3,258,954$0$0$2,474,981
93$3,415,496$0$0$2,594,509
94$3,582,464$0$0$2,722,042
95$3,760,749$0$0$2,858,265
96$3,951,325$0$0$3,003,927
97$4,155,259$0$0$3,159,852
98$4,373,723$0$0$3,326,941
99$4,608,000$0$0$3,506,184
100$4,859,501$0$0$3,698,667