Can I retire at age 56 with 716,000?

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 $716,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$59,127$58,600$58,086$57,585$57,095$56,475
2 years$29,271$28,725$28,197$27,685$27,188$26,564
3 years$19,320$18,772$18,245$17,738$17,249$16,640
4 years$14,346$13,800$13,278$12,779$12,302$11,713
5 years$11,362$10,819$10,304$9,816$9,352$8,784
6 years$9,373$8,835$8,327$7,850$7,400$6,855
7 years$7,953$7,419$6,920$6,454$6,018$5,495
8 years$6,889$6,360$5,869$5,414$4,993$4,492
9 years$6,061$5,537$5,055$4,611$4,204$3,726
10 years$5,400$4,881$4,407$3,975$3,582$3,126
11 years$4,859$4,345$3,880$3,459$3,081$2,646
12 years$4,408$3,900$3,443$3,034$2,670$2,256
13 years$4,028$3,524$3,076$2,679$2,328$1,935
14 years$3,701$3,204$2,764$2,378$2,041$1,668
15 years$3,419$2,927$2,496$2,121$1,797$1,443
16 years$3,172$2,685$2,263$1,899$1,588$1,253
17 years$2,955$2,473$2,059$1,706$1,408$1,092
18 years$2,761$2,285$1,879$1,538$1,252$953
19 years$2,589$2,118$1,721$1,389$1,116$834
20 years$2,433$1,968$1,579$1,258$997$731
21 years$2,293$1,833$1,452$1,142$892$642
22 years$2,166$1,711$1,339$1,038$800$564
23 years$2,050$1,600$1,236$946$718$497
24 years$1,944$1,499$1,143$862$645$438
25 years$1,846$1,407$1,059$788$581$386
26 years$1,756$1,322$982$720$523$341
27 years$1,673$1,245$912$659$471$301
28 years$1,596$1,173$848$604$425$266
29 years$1,524$1,106$789$554$384$235
30 years$1,457$1,045$735$508$347$208
31 years$1,395$988$685$467$314$184
32 years$1,337$935$639$429$284$163
33 years$1,282$885$597$395$257$145
34 years$1,231$839$558$363$233$128
35 years$1,183$796$521$334$211$114
36 years$1,137$755$488$308$191$101
37 years$1,094$717$456$284$173$89
38 years$1,054$682$427$261$157$79
39 years$1,015$648$400$241$142$70
40 years$979$617$375$222$129$62
41 years$944$587$352$205$117$55
42 years$912$559$330$189$106$49
43 years$880$533$310$175$96$44
44 years$851$508$291$161$87$39
45 years$822$484$273$149$79$34
46 years$795$462$256$138$72$30
47 years$770$441$241$127$65$27
48 years$745$421$226$117$59$24
49 years$722$402$213$109$54$21
50 years$699$384$200$100$49$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $716,000, adding $3,122 every year, while hoping to spend $29,866 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: 49/40/11 Blend
55$716,000$716,000$716,000$716,000
56$792,252$754,304$743,206$828,562
57$841,285$759,488$736,327$858,996
58$894,318$763,925$728,215$888,645
59$951,728$767,546$718,800$920,170
60$1,013,928$770,280$708,004$953,755
61$1,081,374$772,050$695,748$989,604
62$1,154,567$772,773$681,948$1,027,945
63$1,234,056$772,362$666,517$1,069,026
64$1,320,448$770,726$649,363$1,113,128
65$1,414,408$767,766$630,391$1,160,556
66$1,516,669$763,378$609,500$1,211,653
67$1,628,037$757,451$586,587$1,266,795
68$1,749,400$749,870$561,540$1,326,400
69$1,881,734$740,508$534,247$1,390,930
70$2,026,114$729,236$504,587$1,460,897
71$2,183,723$715,914$472,436$1,536,867
72$2,355,862$700,393$437,662$1,619,466
73$2,543,965$682,518$400,129$1,709,388
74$2,749,612$662,123$359,695$1,807,398
75$2,974,538$639,032$316,211$1,914,346
76$3,220,657$613,061$269,520$2,031,168
77$3,490,076$584,013$219,461$2,158,901
78$3,785,114$551,680$165,863$2,298,693
79$4,108,326$515,843$108,551$2,451,809
80$4,462,526$476,270$47,337$2,619,650
81$4,850,811$432,715$0$2,803,766
82$5,276,594$384,918$0$3,007,978
83$5,743,634$332,606$0$3,238,132
84$6,256,069$275,489$0$3,490,780
85$6,818,461$213,260$0$3,768,256
86$7,435,831$145,597$0$4,073,135
87$8,113,712$72,158$0$4,408,263
88$8,858,199$0$0$4,776,778
89$9,676,006$0$0$5,185,412
90$10,574,528$0$0$5,669,354
91$11,561,914$0$0$6,201,241
92$12,647,141$0$0$6,785,920
93$13,840,096$0$0$7,428,729
94$15,151,676$0$0$8,135,549
95$16,593,884$0$0$8,912,862
96$18,179,943$0$0$9,767,806
97$19,924,426$0$0$10,708,249
98$21,843,385$0$0$11,742,856
99$23,954,508$0$0$12,881,178
100$26,277,283$0$0$14,133,736