Can I retire at age 56 with 745,000?

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 $745,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$61,521$60,973$60,439$59,917$59,407$58,689
2 years$30,456$29,889$29,339$28,806$28,289$27,567
3 years$20,102$19,533$18,984$18,456$17,948$17,243
4 years$14,927$14,359$13,816$13,297$12,801$12,119
5 years$11,822$11,257$10,722$10,213$9,731$9,075
6 years$9,753$9,192$8,665$8,168$7,700$7,070
7 years$8,275$7,720$7,200$6,715$6,262$5,658
8 years$7,168$6,617$6,106$5,633$5,195$4,617
9 years$6,307$5,762$5,260$4,798$4,375$3,823
10 years$5,619$5,079$4,585$4,136$3,728$3,202
11 years$5,056$4,521$4,037$3,600$3,206$2,705
12 years$4,587$4,058$3,583$3,157$2,778$2,302
13 years$4,191$3,667$3,201$2,787$2,423$1,971
14 years$3,851$3,333$2,876$2,474$2,124$1,695
15 years$3,558$3,045$2,597$2,207$1,870$1,464
16 years$3,301$2,794$2,354$1,976$1,653$1,269
17 years$3,074$2,573$2,142$1,775$1,465$1,103
18 years$2,873$2,378$1,956$1,600$1,303$961
19 years$2,694$2,203$1,790$1,446$1,161$839
20 years$2,532$2,048$1,643$1,309$1,037$734
21 years$2,386$1,907$1,511$1,188$928$643
22 years$2,254$1,780$1,393$1,080$832$564
23 years$2,133$1,665$1,286$984$747$495
24 years$2,022$1,560$1,189$897$671$435
25 years$1,921$1,464$1,102$820$604$383
26 years$1,827$1,376$1,022$749$544$337
27 years$1,741$1,295$949$686$491$297
28 years$1,660$1,220$882$628$443$262
29 years$1,586$1,151$821$576$400$231
30 years$1,516$1,087$764$529$361$204
31 years$1,452$1,028$713$486$327$180
32 years$1,391$972$665$446$295$159
33 years$1,334$921$621$411$267$141
34 years$1,281$873$580$378$242$124
35 years$1,231$828$542$348$219$110
36 years$1,183$786$507$320$199$97
37 years$1,139$746$475$295$180$86
38 years$1,096$709$445$272$163$76
39 years$1,056$674$417$251$148$67
40 years$1,019$642$391$231$134$60
41 years$983$611$366$213$122$53
42 years$948$582$343$197$110$47
43 years$916$554$322$182$100$41
44 years$885$528$303$168$91$37
45 years$856$504$284$155$83$32
46 years$828$481$267$143$75$29
47 years$801$459$251$132$68$25
48 years$775$438$236$122$62$22
49 years$751$418$221$113$56$20
50 years$727$399$208$104$51$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $745,000, adding $6,507 every year, while hoping to spend $40,576 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: 43/43/14 Blend
55$745,000$745,000$745,000$745,000
56$827,702$788,217$776,669$859,665
57$868,955$783,667$759,515$878,152
58$913,056$777,534$740,427$893,616
59$960,252$769,698$719,296$909,486
60$1,010,816$760,031$696,010$925,817
61$1,065,044$748,398$670,451$942,672
62$1,123,265$734,655$642,497$960,124
63$1,185,835$718,651$612,019$978,255
64$1,253,150$700,224$578,881$997,161
65$1,325,641$679,205$542,943$1,016,948
66$1,403,784$655,413$504,059$1,037,740
67$1,488,099$628,658$462,074$1,059,675
68$1,579,159$598,737$416,828$1,082,911
69$1,677,596$565,437$368,154$1,107,626
70$1,784,099$528,532$315,876$1,134,020
71$1,899,431$487,783$259,811$1,162,321
72$2,024,427$442,939$199,769$1,192,782
73$2,160,007$393,732$135,550$1,225,691
74$2,307,183$339,880$66,946$1,261,370
75$2,467,067$281,085$0$1,300,180
76$2,640,882$217,032$0$1,343,463
77$2,829,975$147,389$0$1,401,468
78$3,035,826$71,806$0$1,464,730
79$3,260,066$0$0$1,533,851
80$3,504,488$0$0$1,614,281
81$3,771,065$0$0$1,739,141
82$4,061,971$0$0$1,875,484
83$4,379,596$0$0$2,024,440
84$4,726,573$0$0$2,187,256
85$5,105,800$0$0$2,365,303
86$5,520,467$0$0$2,560,092
87$5,974,088$0$0$2,773,286
88$6,470,529$0$0$3,006,715
89$7,014,050$0$0$3,262,397
90$7,609,342$0$0$3,542,552
91$8,261,569$0$0$3,849,625
92$8,976,420$0$0$4,186,310
93$9,760,159$0$0$4,555,574
94$10,619,686$0$0$4,960,684
95$11,562,600$0$0$5,405,239
96$12,597,272$0$0$5,893,204
97$13,732,922$0$0$6,428,945
98$14,979,706$0$0$7,017,272
99$16,348,813$0$0$7,663,485
100$17,852,565$0$0$8,373,421