Can I retire at age 56 with 746,000?

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 $746,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$61,604$61,055$60,520$59,997$59,487$57,745
2 years$30,497$29,929$29,379$28,845$28,327$26,586
3 years$20,129$19,559$19,010$18,481$17,972$16,286
4 years$14,947$14,378$13,834$13,315$12,818$11,201
5 years$11,838$11,272$10,736$10,227$9,744$8,200
6 years$9,766$9,205$8,676$8,179$7,710$6,240
7 years$8,286$7,730$7,210$6,724$6,270$4,875
8 years$7,177$6,626$6,115$5,641$5,202$3,880
9 years$6,315$5,769$5,267$4,805$4,381$3,131
10 years$5,626$5,085$4,592$4,142$3,733$2,553
11 years$5,062$4,527$4,042$3,604$3,210$2,100
12 years$4,593$4,063$3,587$3,162$2,782$1,738
13 years$4,196$3,672$3,205$2,791$2,426$1,445
14 years$3,857$3,338$2,880$2,478$2,126$1,207
15 years$3,562$3,049$2,600$2,210$1,872$1,012
16 years$3,305$2,798$2,357$1,979$1,655$851
17 years$3,078$2,576$2,145$1,778$1,467$717
18 years$2,877$2,381$1,958$1,602$1,305$605
19 years$2,697$2,206$1,793$1,448$1,163$512
20 years$2,535$2,050$1,645$1,311$1,039$434
21 years$2,389$1,910$1,513$1,190$929$368
22 years$2,257$1,783$1,395$1,082$833$312
23 years$2,136$1,667$1,288$985$748$265
24 years$2,025$1,562$1,191$899$672$225
25 years$1,923$1,466$1,103$821$605$191
26 years$1,830$1,378$1,023$750$545$163
27 years$1,743$1,297$950$687$491$139
28 years$1,663$1,222$883$629$443$118
29 years$1,588$1,153$822$577$400$101
30 years$1,519$1,089$766$530$362$86
31 years$1,454$1,029$714$486$327$73
32 years$1,393$974$666$447$296$62
33 years$1,336$922$622$411$268$53
34 years$1,283$874$581$378$242$45
35 years$1,232$829$543$348$219$39
36 years$1,185$787$508$321$199$33
37 years$1,140$747$476$295$180$28
38 years$1,098$710$445$272$163$24
39 years$1,058$675$417$251$148$20
40 years$1,020$643$391$232$134$17
41 years$984$612$367$214$122$15
42 years$950$582$344$197$111$13
43 years$917$555$323$182$100$11
44 years$886$529$303$168$91$9
45 years$857$504$284$155$83$8
46 years$829$481$267$143$75$7
47 years$802$459$251$132$68$6
48 years$776$438$236$122$62$5
49 years$752$419$222$113$56$4
50 years$728$400$208$105$51$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $746,000, adding $5,897 every year, while hoping to spend $38,206 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: 49/21/30 Blend
55$746,000$746,000$746,000$746,000
56$828,175$788,637$777,074$861,431
57$871,998$786,629$762,455$883,406
58$919,010$783,243$746,066$903,054
59$969,497$778,369$727,807$923,674
60$1,023,771$771,895$707,574$945,377
61$1,082,175$763,697$685,257$968,288
62$1,145,088$753,649$660,744$992,547
63$1,212,922$741,613$633,914$1,018,311
64$1,286,132$727,444$604,642$1,045,755
65$1,365,219$710,991$572,799$1,075,075
66$1,450,732$692,090$538,249$1,106,490
67$1,543,275$670,570$500,848$1,140,243
68$1,643,511$646,250$460,448$1,176,608
69$1,752,169$618,936$416,894$1,215,887
70$1,870,053$588,427$370,022$1,258,419
71$1,998,045$554,506$319,664$1,304,581
72$2,137,115$516,947$265,643$1,354,792
73$2,288,331$475,508$207,772$1,409,518
74$2,452,868$429,935$145,860$1,469,277
75$2,632,019$379,959$79,704$1,534,647
76$2,827,205$325,297$9,094$1,606,266
77$3,039,991$265,649$0$1,684,848
78$3,272,101$200,696$0$1,792,389
79$3,525,430$130,105$0$1,913,042
80$3,802,065$53,521$0$2,044,942
81$4,104,304$0$0$2,189,245
82$4,434,675$0$0$2,354,031
83$4,795,964$0$0$2,547,841
84$5,191,237$0$0$2,759,961
85$5,623,868$0$0$2,992,212
86$6,097,577$0$0$3,246,602
87$6,616,457$0$0$3,525,338
88$7,185,015$0$0$3,830,855
89$7,808,217$0$0$4,165,831
90$8,491,531$0$0$4,533,218
91$9,240,980$0$0$4,936,266
92$10,063,197$0$0$5,378,556
93$10,965,488$0$0$5,864,031
94$11,955,903$0$0$6,397,036
95$13,043,305$0$0$6,982,356
96$14,237,462$0$0$7,625,262
97$15,549,130$0$0$8,331,562
98$16,990,162$0$0$9,107,654
99$18,573,611$0$0$9,960,584
100$20,313,862$0$0$10,898,117