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%19.9%
1 years$59,127$58,600$58,086$57,585$57,095$54,830
2 years$29,271$28,725$28,197$27,685$27,188$24,934
3 years$19,320$18,772$18,245$17,738$17,249$15,077
4 years$14,346$13,800$13,278$12,779$12,302$10,229
5 years$11,362$10,819$10,304$9,816$9,352$7,382
6 years$9,373$8,835$8,327$7,850$7,400$5,536
7 years$7,953$7,419$6,920$6,454$6,018$4,258
8 years$6,889$6,360$5,869$5,414$4,993$3,335
9 years$6,061$5,537$5,055$4,611$4,204$2,648
10 years$5,400$4,881$4,407$3,975$3,582$2,123
11 years$4,859$4,345$3,880$3,459$3,081$1,715
12 years$4,408$3,900$3,443$3,034$2,670$1,394
13 years$4,028$3,524$3,076$2,679$2,328$1,138
14 years$3,701$3,204$2,764$2,378$2,041$933
15 years$3,419$2,927$2,496$2,121$1,797$768
16 years$3,172$2,685$2,263$1,899$1,588$633
17 years$2,955$2,473$2,059$1,706$1,408$523
18 years$2,761$2,285$1,879$1,538$1,252$433
19 years$2,589$2,118$1,721$1,389$1,116$358
20 years$2,433$1,968$1,579$1,258$997$297
21 years$2,293$1,833$1,452$1,142$892$247
22 years$2,166$1,711$1,339$1,038$800$205
23 years$2,050$1,600$1,236$946$718$171
24 years$1,944$1,499$1,143$862$645$142
25 years$1,846$1,407$1,059$788$581$118
26 years$1,756$1,322$982$720$523$98
27 years$1,673$1,245$912$659$471$82
28 years$1,596$1,173$848$604$425$68
29 years$1,524$1,106$789$554$384$57
30 years$1,457$1,045$735$508$347$47
31 years$1,395$988$685$467$314$39
32 years$1,337$935$639$429$284$33
33 years$1,282$885$597$395$257$27
34 years$1,231$839$558$363$233$23
35 years$1,183$796$521$334$211$19
36 years$1,137$755$488$308$191$16
37 years$1,094$717$456$284$173$13
38 years$1,054$682$427$261$157$11
39 years$1,015$648$400$241$142$9
40 years$979$617$375$222$129$8
41 years$944$587$352$205$117$6
42 years$912$559$330$189$106$5
43 years$880$533$310$175$96$4
44 years$851$508$291$161$87$4
45 years$822$484$273$149$79$3
46 years$795$462$256$138$72$3
47 years$770$441$241$127$65$2
48 years$745$421$226$117$59$2
49 years$722$402$213$109$54$1
50 years$699$384$200$100$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $716,000, adding $4,498 every year, while hoping to spend $50,618 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: 62/29/9 Blend
55$716,000$716,000$716,000$716,000
56$793,672$755,724$744,626$841,055
57$820,769$738,897$715,713$856,468
58$848,934$719,549$684,136$867,025
59$878,221$697,504$649,751$877,271
60$908,691$672,573$612,409$887,177
61$940,407$644,558$571,954$896,711
62$973,438$613,250$528,224$905,842
63$1,007,856$578,427$481,047$914,536
64$1,043,742$539,855$430,246$922,759
65$1,081,180$497,284$375,636$930,478
66$1,120,262$450,453$317,022$937,657
67$1,161,089$399,085$254,202$944,262
68$1,203,766$342,886$186,964$950,256
69$1,248,410$281,547$115,087$955,605
70$1,295,146$214,741$38,340$960,274
71$1,344,110$142,123$0$964,228
72$1,395,450$63,328$0$971,616
73$1,449,325$0$0$982,425
74$1,505,909$0$0$999,994
75$1,565,390$0$0$1,039,723
76$1,627,973$0$0$1,081,543
77$1,693,882$0$0$1,125,606
78$1,763,359$0$0$1,172,076
79$1,836,668$0$0$1,221,133
80$1,914,098$0$0$1,272,974
81$1,995,965$0$0$1,327,811
82$2,082,610$0$0$1,385,880
83$2,174,410$0$0$1,447,434
84$2,271,773$0$0$1,512,753
85$2,375,148$0$0$1,582,141
86$2,485,024$0$0$1,655,932
87$2,601,938$0$0$1,734,491
88$2,726,475$0$0$1,818,218
89$2,859,277$0$0$1,907,548
90$3,001,049$0$0$2,002,962
91$3,152,560$0$0$2,104,986
92$3,314,656$0$0$2,214,193
93$3,488,262$0$0$2,331,217
94$3,674,395$0$0$2,456,749
95$3,874,169$0$0$2,591,549
96$4,088,806$0$0$2,736,452
97$4,319,651$0$0$2,892,373
98$4,568,175$0$0$3,060,317
99$4,835,998$0$0$3,241,388
100$5,124,899$0$0$3,436,799