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%20%
1 years$62,595$62,037$61,493$60,962$60,444$58,023
2 years$30,988$30,410$29,851$29,309$28,783$26,374
3 years$20,453$19,874$19,316$18,778$18,261$15,940
4 years$15,187$14,609$14,057$13,529$13,024$10,809
5 years$12,028$11,454$10,909$10,391$9,901$7,797
6 years$9,923$9,353$8,816$8,310$7,834$5,843
7 years$8,420$7,855$7,326$6,832$6,371$4,492
8 years$7,293$6,733$6,213$5,731$5,285$3,517
9 years$6,417$5,862$5,351$4,882$4,451$2,790
10 years$5,717$5,167$4,665$4,208$3,793$2,235
11 years$5,144$4,600$4,107$3,662$3,262$1,805
12 years$4,667$4,129$3,645$3,212$2,827$1,466
13 years$4,264$3,731$3,257$2,836$2,465$1,196
14 years$3,919$3,392$2,926$2,518$2,161$980
15 years$3,620$3,098$2,642$2,245$1,902$805
16 years$3,358$2,843$2,395$2,010$1,681$664
17 years$3,128$2,618$2,180$1,806$1,491$548
18 years$2,923$2,419$1,990$1,628$1,326$453
19 years$2,741$2,242$1,821$1,471$1,181$375
20 years$2,576$2,083$1,672$1,332$1,055$311
21 years$2,428$1,941$1,538$1,209$944$258
22 years$2,293$1,811$1,417$1,099$847$214
23 years$2,170$1,694$1,308$1,001$760$178
24 years$2,058$1,587$1,210$913$683$148
25 years$1,954$1,490$1,121$834$615$123
26 years$1,859$1,400$1,040$762$554$102
27 years$1,771$1,318$965$698$499$85
28 years$1,689$1,242$897$639$450$71
29 years$1,614$1,171$835$586$407$59
30 years$1,543$1,106$778$538$367$49
31 years$1,477$1,046$725$494$332$41
32 years$1,415$989$677$454$301$34
33 years$1,357$937$632$418$272$28
34 years$1,303$888$590$384$246$24
35 years$1,252$842$552$354$223$20
36 years$1,204$799$516$326$202$16
37 years$1,158$759$483$300$183$14
38 years$1,115$722$452$277$166$11
39 years$1,075$686$424$255$151$9
40 years$1,036$653$397$235$137$8
41 years$1,000$621$373$217$124$7
42 years$965$592$349$200$112$5
43 years$932$564$328$185$102$5
44 years$901$538$308$171$93$4
45 years$871$513$289$158$84$3
46 years$842$489$271$146$76$3
47 years$815$467$255$135$69$2
48 years$789$445$240$124$63$2
49 years$764$425$225$115$57$2
50 years$740$406$212$106$52$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $758,000, adding $2,884 every year, while hoping to spend $36,549 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: 72/12/16 Blend
55$758,000$758,000$758,000$758,000
56$838,291$798,117$786,368$895,382
57$884,909$798,337$773,823$933,869
58$935,057$797,342$759,634$971,290
59$989,056$795,036$743,705$1,011,318
60$1,047,260$791,313$725,939$1,054,204
61$1,110,056$786,063$706,234$1,100,223
62$1,177,871$779,169$684,482$1,149,683
63$1,251,173$770,507$660,571$1,202,920
64$1,330,475$759,945$634,383$1,260,307
65$1,416,345$747,344$605,796$1,322,255
66$1,509,403$732,555$574,682$1,389,218
67$1,610,334$715,422$540,905$1,461,696
68$1,719,890$695,779$504,327$1,540,242
69$1,838,897$673,451$464,801$1,625,466
70$1,968,266$648,251$422,173$1,718,042
71$2,108,997$619,983$376,283$1,818,712
72$2,262,192$588,439$326,966$1,928,297
73$2,429,062$553,399$274,045$2,047,702
74$2,610,940$514,630$217,340$2,177,925
75$2,809,295$471,886$156,660$2,320,068
76$3,025,742$424,906$91,806$2,475,349
77$3,262,057$373,417$22,572$2,645,108
78$3,520,199$317,126$0$2,830,826
79$3,802,322$255,728$0$3,042,898
80$4,110,798$188,898$0$3,279,047
81$4,448,239$116,293$0$3,537,445
82$4,817,520$37,552$0$3,820,327
83$5,221,808$0$0$4,130,159
84$5,664,589$0$0$4,475,954
85$6,149,705$0$0$4,860,279
86$6,681,382$0$0$5,281,531
87$7,264,280$0$0$5,743,403
88$7,903,528$0$0$6,249,966
89$8,604,774$0$0$6,805,701
90$9,374,244$0$0$7,415,546
91$10,218,790$0$0$8,084,939
92$11,145,964$0$0$8,819,869
93$12,164,082$0$0$9,626,936
94$13,282,307$0$0$10,513,408
95$14,510,732$0$0$11,487,292
96$15,860,476$0$0$12,557,411
97$17,343,788$0$0$13,733,481
98$18,974,162$0$0$15,026,211
99$20,766,465$0$0$16,447,393
100$22,737,077$0$0$18,010,025