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%11.6%
1 years$62,595$62,037$61,493$60,962$60,444$60,038
2 years$30,988$30,410$29,851$29,309$28,783$28,373
3 years$20,453$19,874$19,316$18,778$18,261$17,861
4 years$15,187$14,609$14,057$13,529$13,024$12,636
5 years$12,028$11,454$10,909$10,391$9,901$9,526
6 years$9,923$9,353$8,816$8,310$7,834$7,473
7 years$8,420$7,855$7,326$6,832$6,371$6,025
8 years$7,293$6,733$6,213$5,731$5,285$4,953
9 years$6,417$5,862$5,351$4,882$4,451$4,133
10 years$5,717$5,167$4,665$4,208$3,793$3,488
11 years$5,144$4,600$4,107$3,662$3,262$2,971
12 years$4,667$4,129$3,645$3,212$2,827$2,549
13 years$4,264$3,731$3,257$2,836$2,465$2,200
14 years$3,919$3,392$2,926$2,518$2,161$1,909
15 years$3,620$3,098$2,642$2,245$1,902$1,663
16 years$3,358$2,843$2,395$2,010$1,681$1,454
17 years$3,128$2,618$2,180$1,806$1,491$1,275
18 years$2,923$2,419$1,990$1,628$1,326$1,121
19 years$2,741$2,242$1,821$1,471$1,181$988
20 years$2,576$2,083$1,672$1,332$1,055$873
21 years$2,428$1,941$1,538$1,209$944$772
22 years$2,293$1,811$1,417$1,099$847$684
23 years$2,170$1,694$1,308$1,001$760$607
24 years$2,058$1,587$1,210$913$683$539
25 years$1,954$1,490$1,121$834$615$479
26 years$1,859$1,400$1,040$762$554$426
27 years$1,771$1,318$965$698$499$379
28 years$1,689$1,242$897$639$450$338
29 years$1,614$1,171$835$586$407$301
30 years$1,543$1,106$778$538$367$269
31 years$1,477$1,046$725$494$332$240
32 years$1,415$989$677$454$301$214
33 years$1,357$937$632$418$272$191
34 years$1,303$888$590$384$246$171
35 years$1,252$842$552$354$223$153
36 years$1,204$799$516$326$202$137
37 years$1,158$759$483$300$183$122
38 years$1,115$722$452$277$166$109
39 years$1,075$686$424$255$151$98
40 years$1,036$653$397$235$137$87
41 years$1,000$621$373$217$124$78
42 years$965$592$349$200$112$70
43 years$932$564$328$185$102$63
44 years$901$538$308$171$93$56
45 years$871$513$289$158$84$50
46 years$842$489$271$146$76$45
47 years$815$467$255$135$69$40
48 years$789$445$240$124$63$36
49 years$764$425$225$115$57$32
50 years$740$406$212$106$52$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $758,000, adding $3,024 every year, while hoping to spend $42,113 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: 50/28/22 Blend
55$758,000$758,000$758,000$758,000
56$838,435$798,261$786,512$875,048
57$879,148$792,568$768,053$895,066
58$922,601$785,185$747,563$912,283
59$969,032$775,983$724,931$930,123
60$1,018,696$764,830$700,039$948,660
61$1,071,877$751,580$672,764$967,981
62$1,128,884$736,084$642,978$988,183
63$1,190,058$718,179$610,546$1,009,376
64$1,255,772$697,698$575,327$1,031,683
65$1,326,434$674,459$537,174$1,055,245
66$1,402,496$648,273$495,934$1,080,217
67$1,484,449$618,937$451,447$1,106,776
68$1,572,838$586,240$403,545$1,135,122
69$1,668,256$549,955$352,053$1,165,475
70$1,771,360$509,844$296,789$1,198,086
71$1,882,868$465,655$237,560$1,233,233
72$2,003,570$417,122$174,168$1,271,229
73$2,134,337$363,964$106,406$1,312,422
74$2,276,124$305,883$34,055$1,357,204
75$2,429,981$242,564$0$1,406,008
76$2,597,066$173,676$0$1,469,453
77$2,778,648$98,868$0$1,547,137
78$2,976,128$17,770$0$1,631,721
79$3,191,043$0$0$1,723,936
80$3,425,087$0$0$1,846,166
81$3,680,124$0$0$1,985,397
82$3,958,202$0$0$2,137,285
83$4,261,580$0$0$2,303,070
84$4,592,742$0$0$2,484,120
85$4,954,421$0$0$2,681,941
86$5,349,627$0$0$2,898,190
87$5,781,675$0$0$3,134,690
88$6,254,213$0$0$3,393,452
89$6,771,259$0$0$3,676,686
90$7,337,235$0$0$3,986,830
91$7,957,013$0$0$4,326,564
92$8,635,956$0$0$4,698,842
93$9,379,973$0$0$5,106,919
94$10,195,569$0$0$5,554,377
95$11,089,909$0$0$6,045,162
96$12,070,885$0$0$6,583,620
97$13,147,189$0$0$7,174,540
98$14,328,397$0$0$7,823,194
99$15,625,053$0$0$8,535,391
100$17,048,776$0$0$9,317,531