Can I retire at age 56 with 715,000?

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 $715,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$59,044$58,518$58,005$57,504$57,015$55,124
2 years$29,230$28,685$28,158$27,646$27,150$25,263
3 years$19,293$18,746$18,220$17,713$17,225$15,401
4 years$14,325$13,780$13,259$12,761$12,285$10,539
5 years$11,346$10,804$10,290$9,802$9,339$7,675
6 years$9,360$8,822$8,316$7,839$7,390$5,809
7 years$7,942$7,409$6,910$6,445$6,010$4,512
8 years$6,879$6,351$5,861$5,406$4,986$3,570
9 years$6,053$5,530$5,048$4,605$4,199$2,864
10 years$5,392$4,874$4,401$3,969$3,577$2,321
11 years$4,852$4,339$3,874$3,455$3,077$1,896
12 years$4,402$3,895$3,438$3,030$2,666$1,559
13 years$4,022$3,519$3,072$2,675$2,325$1,288
14 years$3,696$3,199$2,760$2,375$2,038$1,068
15 years$3,414$2,922$2,492$2,118$1,794$889
16 years$3,168$2,681$2,259$1,896$1,586$742
17 years$2,950$2,469$2,056$1,704$1,406$621
18 years$2,757$2,282$1,877$1,535$1,250$520
19 years$2,585$2,115$1,718$1,387$1,114$437
20 years$2,430$1,965$1,577$1,257$995$367
21 years$2,290$1,830$1,450$1,140$891$309
22 years$2,163$1,709$1,337$1,037$799$260
23 years$2,047$1,598$1,234$944$717$219
24 years$1,941$1,497$1,141$861$644$185
25 years$1,843$1,405$1,057$787$580$156
26 years$1,754$1,321$981$719$522$132
27 years$1,671$1,243$911$658$471$111
28 years$1,594$1,171$846$603$425$94
29 years$1,522$1,105$788$553$384$79
30 years$1,455$1,043$734$508$347$67
31 years$1,393$986$684$466$313$57
32 years$1,335$933$638$428$283$48
33 years$1,280$884$596$394$257$40
34 years$1,229$838$557$363$232$34
35 years$1,181$795$521$334$210$29
36 years$1,136$754$487$307$191$24
37 years$1,093$716$456$283$173$21
38 years$1,052$681$427$261$157$17
39 years$1,014$647$400$241$142$15
40 years$978$616$375$222$129$13
41 years$943$586$351$205$117$11
42 years$910$558$330$189$106$9
43 years$879$532$309$174$96$8
44 years$850$507$290$161$87$6
45 years$821$484$273$149$79$5
46 years$794$461$256$137$72$5
47 years$769$440$241$127$65$4
48 years$744$420$226$117$59$3
49 years$721$401$213$108$54$3
50 years$698$383$200$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $715,000, adding $5,332 every year, while hoping to spend $20,994 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: 47/48/5 Blend
55$715,000$715,000$715,000$715,000
56$793,430$755,535$744,452$829,443
57$852,022$770,219$747,054$869,355
58$915,888$784,918$749,039$909,989
59$985,541$799,612$750,365$953,585
60$1,061,551$814,278$750,987$1,000,425
61$1,144,541$828,890$750,857$1,050,816
62$1,235,200$843,421$749,927$1,105,099
63$1,334,285$857,843$748,143$1,163,648
64$1,442,628$872,123$745,453$1,226,877
65$1,561,148$886,230$741,797$1,295,242
66$1,690,856$900,125$737,118$1,369,243
67$1,832,864$913,772$731,352$1,449,436
68$1,988,396$927,127$724,433$1,536,430
69$2,158,804$940,148$716,292$1,630,899
70$2,345,572$952,785$706,858$1,733,584
71$2,550,338$964,989$696,055$1,845,304
72$2,774,903$976,704$683,804$1,966,960
73$3,021,254$987,873$670,022$2,099,549
74$3,291,576$998,434$654,623$2,244,166
75$3,588,280$1,008,320$637,515$2,402,022
76$3,914,018$1,017,461$618,605$2,574,449
77$4,271,712$1,025,781$597,793$2,762,920
78$4,664,583$1,033,200$574,975$2,969,056
79$5,096,177$1,039,634$550,044$3,194,646
80$5,570,402$1,044,990$522,885$3,441,661
81$6,091,561$1,049,174$493,380$3,712,277
82$6,664,398$1,052,081$461,406$4,008,892
83$7,294,136$1,053,602$426,832$4,334,150
84$7,986,532$1,053,622$389,525$4,690,967
85$8,747,926$1,052,018$349,342$5,082,558
86$9,585,306$1,048,658$306,136$5,512,469
87$10,506,368$1,043,404$259,754$5,984,608
88$11,519,596$1,036,108$210,033$6,503,287
89$12,634,331$1,026,615$156,806$7,073,257
90$13,860,872$1,014,758$99,898$7,699,759
91$15,210,562$1,000,362$39,126$8,388,572
92$16,695,901$983,241$0$9,146,065
93$18,330,660$963,197$0$9,980,635
94$20,130,016$940,023$0$10,900,971
95$22,110,690$913,496$0$11,913,532
96$24,291,106$883,383$0$13,027,743
97$26,691,566$849,436$0$14,253,995
98$29,334,440$811,392$0$15,603,741
99$32,244,377$768,975$0$17,089,610
100$35,448,540$721,891$0$18,725,522