$750K at 55: When Can You Retire—and How Much Can You Spend?

At age 55, with $750,000 saved for retirement, the big questions become front and center:

• When can I retire?

• How much can I afford to spend when I do?

  
  

These questions don’t just affect your finances—they affect your peace of mind. At The Noble Group, we work with individuals and couples every day who are ready to take retirement seriously but don’t yet have a clear roadmap. That’s exactly where John and Samantha found themselves.

Like many Americans in their mid-50s, they’d been diligent savers but weren’t sure whether they were ahead, behind, or right on track. And while they had a general idea of what they wanted retirement to feel like, they hadn’t yet put numbers around it. Their story may sound familiar—and it offers a great framework for anyone looking to understand what’s possible with $750,000 saved.

Meet John and Samantha: The 55-Year-Old Couple with Big Questions

John and Samantha are both 55, employed full time, and saving regularly. John earns $250,000 a year and has saved $320,000 in his 401(k), contributing 5% with a 3% employer match. Samantha earns $100,000, has $225,000 in her 401(k), and is contributing at the same rate. Together, they also hold $210,000 in a taxable brokerage account.

Their total portfolio value? Around $750,000.

They live within their means, enjoy spoiling their grandkids, and have some minor home renovations planned. When we asked about increasing their retirement contributions, they were honest: they’d love to—but don’t have much flexibility at the moment. That’s okay. Planning is all about working with real-life constraints.

The Four Pillars of Every Retirement Plan

We told John and Samantha the same thing we tell every couple: every retirement plan hinges on four simple—but powerful—questions:

1. When do you want to retire?

2. How much do you want to spend in retirement?

3. How much are you saving now—and can that change?

4. What’s your current investment allocation and risk tolerance?
   

These questions may seem basic, but they open the door to meaningful insights. Retirement success isn’t built on one magic number—it’s built on balancing choices across these four variables.

Step One: Define Spending Goals with a Tiered Retirement Plan

John and Samantha originally estimated they’d need $5,000/month in retirement—just enough to cover basic living expenses. But like many couples, they hoped for more in the early years when they’re young enough to enjoy it.

That’s where we introduced a tiered retirement plan—a spending strategy that reflects the natural phases of retirement:

• Phase 1 (Years 1–10): Active retirement, more travel, family time, hobbies → $15,000/month

• Phase 2 (Years 11–20): Slower pace, some travel, reduced discretionary spending → $10,000/month

• Phase 3 (Beyond 20 Years): Simpler lifestyle, primarily healthcare and essentials → $5,000/month
  

The beauty of this approach is that it matches real life. Retirement isn’t one flat number—your needs and desires evolve over time. Planning for those changes gives people more freedom and flexibility.

Scenario 1: Retire at 62, Spend $5,000/Month

This base case covered just essential expenses, and it worked incredibly well—John and Samantha’s probability of success hit 99%. That means the odds are overwhelmingly in their favor, even assuming conservative market returns.

Why so high? Because their projected Social Security income (~$77,000/year) would cover most of their $105,000/year needs (including taxes and healthcare), keeping their portfolio withdrawals low—around 2%. That’s extremely sustainable.

But the problem? This isn’t the retirement they dreamed of. It’s functional, but not fulfilling. No travel. No big experiences with grandkids. Just the basics.

Scenario 2: Retire at 64, Spend $10,000/Month

So we modeled the middle path: retire two years later and enjoy more discretionary spending in the first 10 years.

Delaying retirement to 64 made a massive difference. With only one year of private health insurance costs before Medicare, two extra years of saving, and two more years of portfolio growth, their probability of success jumped to 88%.

This was the best of both worlds: a comfortable lifestyle with enough cushion to enjoy retirement—and sleep well at night. No need to sacrifice now or later.

Scenario 3: Retire at 70, Spend $15,000/Month

What if John and Samantha wanted to go all out for the first decade of retirement?

We ran the numbers—and to safely support $15,000/month in early retirement, they’d need to delay retirement to age 70. That extended working period allowed their portfolio to grow substantially and maximized their Social Security benefits.

By doing so, their success probability rose to 89%—a great number. But of course, the tradeoff was more years spent working. Not ideal for everyone, but for those who love their jobs or want to travel extensively in retirement, this option can be well worth it.

What This Means for You

What John and Samantha realized—and what many people learn during planning—is that retirement isn’t about guessing the right age or picking a magic savings number. It’s about creating a strategy that aligns with your values, lifestyle, and timeline.

By planning early, they unlocked choices:

• Retire at 62 with a modest lifestyle

• Retire at 64 with a balanced approach

• Retire at 70 with a generous, travel-rich lifestyle
  

And here’s the best part: everything in between is on the table too.

The Noble Group’s Advice: Start With a Plan, Stay Flexible

At The Noble Group, we believe retirement planning is a lot like using a GPS. You input your destination—financial freedom—and the GPS gives you a route. But if there’s traffic or a detour, it reroutes you. You’re still heading in the right direction—just on a slightly different path.

With the right plan, you’ll know when you can afford to take the scenic route or when it’s smarter to stay on course. That’s what we help clients do every day.

If you’re in your 50s and wondering what’s possible for your retirement, now is the perfect time to run the numbers. Whether your goal is to retire early, spend freely, or leave a legacy, we’ll help you design a strategy that works for you—not just the spreadsheet.

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This is a hypothetical situation based on real life examples. Names and circumstances have been changed. The opinions voiced are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your financial advisor prior to investing.

All investing includes risks, including fluctuating prices and loss of principal.​