Can I retire at age 56 with 749,000?

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 $749,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$61,852$61,301$60,763$60,239$59,726$57,516
2 years$30,620$30,049$29,497$28,961$28,441$26,239
3 years$20,210$19,638$19,086$18,556$18,044$15,920
4 years$15,007$14,436$13,890$13,368$12,869$10,839
5 years$11,885$11,318$10,779$10,268$9,783$7,852
6 years$9,805$9,242$8,711$8,211$7,741$5,910
7 years$8,320$7,761$7,239$6,751$6,295$4,565
8 years$7,206$6,653$6,139$5,663$5,223$3,590
9 years$6,341$5,792$5,288$4,824$4,398$2,862
10 years$5,649$5,106$4,610$4,158$3,748$2,305
11 years$5,083$4,545$4,059$3,619$3,223$1,871
12 years$4,612$4,080$3,602$3,174$2,793$1,528
13 years$4,213$3,687$3,218$2,802$2,436$1,254
14 years$3,872$3,351$2,891$2,488$2,135$1,033
15 years$3,577$3,061$2,611$2,219$1,880$854
16 years$3,318$2,809$2,367$1,986$1,661$707
17 years$3,091$2,587$2,154$1,785$1,473$587
18 years$2,889$2,390$1,966$1,608$1,310$489
19 years$2,708$2,215$1,800$1,453$1,167$407
20 years$2,546$2,059$1,652$1,316$1,043$339
21 years$2,399$1,917$1,519$1,195$933$283
22 years$2,266$1,790$1,400$1,086$836$237
23 years$2,144$1,674$1,293$989$751$198
24 years$2,033$1,568$1,196$902$675$166
25 years$1,931$1,472$1,108$824$607$139
26 years$1,837$1,383$1,027$753$547$116
27 years$1,750$1,302$954$690$493$97
28 years$1,669$1,227$887$632$445$81
29 years$1,594$1,157$825$579$402$68
30 years$1,525$1,093$769$532$363$57
31 years$1,459$1,033$717$488$328$48
32 years$1,399$978$669$449$297$40
33 years$1,341$926$624$413$269$34
34 years$1,288$878$583$380$243$28
35 years$1,237$832$545$350$220$24
36 years$1,190$790$510$322$200$20
37 years$1,145$750$477$297$181$17
38 years$1,102$713$447$273$164$14
39 years$1,062$678$419$252$149$12
40 years$1,024$645$393$233$135$10
41 years$988$614$368$215$122$8
42 years$954$585$345$198$111$7
43 years$921$557$324$183$101$6
44 years$890$531$304$169$92$5
45 years$860$506$286$156$83$4
46 years$832$483$268$144$75$3
47 years$805$461$252$133$68$3
48 years$779$440$237$123$62$2
49 years$755$420$223$114$56$2
50 years$731$402$209$105$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $749,000, adding $3,598 every year, while hoping to spend $55,260 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: 52/38/10 Blend
55$749,000$749,000$749,000$749,000
56$829,109$789,412$777,803$869,896
57$854,882$769,297$745,063$877,952
58$881,432$746,345$709,374$880,467
59$908,779$720,357$670,580$881,912
60$936,946$691,125$628,515$882,201
61$965,952$658,428$583,008$881,238
62$995,820$622,032$533,880$878,926
63$1,026,573$581,691$480,944$875,158
64$1,058,231$537,141$424,003$869,824
65$1,090,817$488,107$362,854$862,804
66$1,124,353$434,298$297,282$853,973
67$1,158,861$375,403$227,066$843,198
68$1,194,364$311,096$151,971$830,337
69$1,230,883$241,034$71,756$815,241
70$1,268,440$164,851$0$797,751
71$1,307,056$82,164$0$779,175
72$1,346,752$0$0$766,126
73$1,387,547$0$0$753,887
74$1,429,462$0$0$776,607
75$1,472,513$0$0$799,938
76$1,516,720$0$0$823,888
77$1,562,097$0$0$848,465
78$1,608,658$0$0$873,676
79$1,656,416$0$0$899,527
80$1,705,381$0$0$926,021
81$1,755,562$0$0$953,163
82$1,806,962$0$0$980,952
83$1,859,583$0$0$1,009,389
84$1,913,423$0$0$1,038,471
85$1,968,476$0$0$1,068,192
86$2,024,731$0$0$1,098,543
87$2,082,171$0$0$1,129,515
88$2,140,774$0$0$1,161,092
89$2,200,510$0$0$1,193,255
90$2,261,343$0$0$1,225,981
91$2,323,227$0$0$1,259,243
92$2,386,107$0$0$1,293,006
93$2,449,917$0$0$1,327,230
94$2,514,578$0$0$1,361,868
95$2,580,001$0$0$1,396,867
96$2,646,078$0$0$1,432,162
97$2,712,686$0$0$1,467,681
98$2,779,686$0$0$1,503,340
99$2,846,913$0$0$1,539,044
100$2,914,185$0$0$1,574,684