Can I retire at age 56 with 748,000?

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 $748,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$61,769$61,219$60,682$60,158$59,647$59,097
2 years$30,579$30,009$29,457$28,922$28,403$27,850
3 years$20,183$19,611$19,061$18,531$18,020$17,480
4 years$14,987$14,416$13,871$13,350$12,852$12,329
5 years$11,869$11,303$10,765$10,254$9,770$9,266
6 years$9,792$9,229$8,700$8,200$7,731$7,246
7 years$8,309$7,751$7,229$6,742$6,287$5,822
8 years$7,197$6,644$6,131$5,656$5,216$4,770
9 years$6,332$5,785$5,281$4,817$4,392$3,966
10 years$5,641$5,099$4,604$4,153$3,743$3,335
11 years$5,076$4,539$4,053$3,614$3,219$2,830
12 years$4,605$4,074$3,597$3,170$2,789$2,419
13 years$4,208$3,682$3,214$2,799$2,432$2,080
14 years$3,867$3,347$2,888$2,484$2,132$1,798
15 years$3,572$3,057$2,607$2,216$1,877$1,560
16 years$3,314$2,805$2,364$1,984$1,659$1,358
17 years$3,087$2,583$2,151$1,782$1,471$1,186
18 years$2,885$2,387$1,963$1,606$1,308$1,039
19 years$2,704$2,212$1,797$1,451$1,166$912
20 years$2,542$2,056$1,650$1,315$1,041$801
21 years$2,396$1,915$1,517$1,193$932$706
22 years$2,263$1,788$1,398$1,085$835$622
23 years$2,141$1,672$1,291$988$750$550
24 years$2,030$1,566$1,194$901$674$486
25 years$1,928$1,470$1,106$823$606$430
26 years$1,834$1,382$1,026$752$546$381
27 years$1,748$1,300$953$689$493$337
28 years$1,667$1,225$886$631$444$299
29 years$1,592$1,156$824$579$401$265
30 years$1,523$1,092$768$531$363$236
31 years$1,458$1,032$716$488$328$209
32 years$1,397$976$668$448$297$186
33 years$1,340$925$623$412$268$165
34 years$1,286$876$582$379$243$147
35 years$1,236$831$545$349$220$131
36 years$1,188$789$509$322$199$116
37 years$1,143$749$477$296$181$103
38 years$1,101$712$447$273$164$92
39 years$1,061$677$418$252$149$82
40 years$1,023$644$392$232$135$73
41 years$987$613$368$214$122$65
42 years$952$584$345$198$111$58
43 years$920$556$324$183$101$51
44 years$889$530$304$169$91$46
45 years$859$506$285$156$83$41
46 years$831$483$268$144$75$36
47 years$804$460$252$133$68$32
48 years$778$440$237$123$62$29
49 years$754$420$222$113$56$26
50 years$730$401$209$105$51$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $748,000, adding $5,907 every year, while hoping to spend $57,323 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: 57/30/13 Blend
55$748,000$748,000$748,000$748,000
56$830,389$790,745$779,151$874,661
57$854,098$768,500$744,261$883,043
58$878,303$743,244$706,282$885,345
59$902,996$714,769$665,048$886,508
60$928,163$682,855$620,389$886,430
61$953,789$647,267$572,125$885,006
62$979,853$607,762$520,069$882,119
63$1,006,333$564,077$464,026$877,648
64$1,033,199$515,937$403,791$871,460
65$1,060,419$463,051$339,152$863,415
66$1,087,953$405,112$269,884$853,360
67$1,115,755$341,794$195,757$841,134
68$1,143,774$272,753$116,526$826,564
69$1,171,948$197,627$31,939$809,463
70$1,200,209$116,033$0$789,632
71$1,228,476$27,565$0$774,948
72$1,256,661$0$0$762,344
73$1,284,662$0$0$769,695
74$1,312,364$0$0$785,922
75$1,339,635$0$0$801,842
76$1,366,331$0$0$817,363
77$1,392,287$0$0$832,378
78$1,417,318$0$0$846,773
79$1,441,216$0$0$860,414
80$1,463,752$0$0$873,156
81$1,484,665$0$0$884,835
82$1,503,668$0$0$895,267
83$1,520,436$0$0$904,249
84$1,534,613$0$0$911,553
85$1,545,796$0$0$916,928
86$1,553,542$0$0$920,091
87$1,557,355$0$0$920,730
88$1,556,686$0$0$918,498
89$1,550,924$0$0$913,010
90$1,539,391$0$0$903,838
91$1,521,335$0$0$890,508
92$1,495,922$0$0$872,495
93$1,462,229$0$0$849,215
94$1,419,231$0$0$820,025
95$1,365,795$0$0$784,209
96$1,300,666$0$0$740,977
97$1,222,453$0$0$689,454
98$1,129,620$0$0$628,671
99$1,020,466$0$0$557,559
100$893,110$0$0$474,934