Can I retire at age 56 with 717,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $717,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$59,209$58,682$58,167$57,665$57,175$55,860
2 years$29,311$28,766$28,237$27,724$27,226$25,909
3 years$19,347$18,799$18,271$17,763$17,273$15,995
4 years$14,366$13,819$13,297$12,797$12,319$11,090
5 years$11,378$10,834$10,319$9,829$9,365$8,187
6 years$9,386$8,847$8,339$7,861$7,410$6,285
7 years$7,964$7,430$6,930$6,463$6,027$4,955
8 years$6,898$6,369$5,877$5,421$5,000$3,981
9 years$6,070$5,545$5,062$4,618$4,210$3,244
10 years$5,407$4,888$4,413$3,981$3,587$2,672
11 years$4,866$4,351$3,885$3,464$3,085$2,219
12 years$4,415$3,905$3,448$3,039$2,674$1,856
13 years$4,033$3,529$3,081$2,683$2,331$1,561
14 years$3,707$3,208$2,768$2,381$2,044$1,318
15 years$3,424$2,931$2,499$2,124$1,800$1,118
16 years$3,177$2,689$2,266$1,902$1,590$950
17 years$2,959$2,476$2,062$1,709$1,410$810
18 years$2,765$2,288$1,882$1,540$1,254$692
19 years$2,592$2,121$1,723$1,391$1,118$592
20 years$2,437$1,971$1,581$1,260$998$508
21 years$2,296$1,836$1,454$1,144$893$436
22 years$2,169$1,713$1,340$1,040$801$374
23 years$2,053$1,603$1,238$947$719$322
24 years$1,946$1,501$1,145$864$646$277
25 years$1,849$1,409$1,060$789$581$239
26 years$1,758$1,324$983$721$524$206
27 years$1,675$1,246$913$660$472$177
28 years$1,598$1,174$849$605$426$153
29 years$1,526$1,108$790$555$385$132
30 years$1,460$1,046$736$509$348$114
31 years$1,397$989$686$468$314$98
32 years$1,339$936$640$430$284$85
33 years$1,284$886$598$395$257$73
34 years$1,233$840$558$364$233$64
35 years$1,184$797$522$335$211$55
36 years$1,139$756$488$308$191$47
37 years$1,096$718$457$284$173$41
38 years$1,055$683$428$262$157$35
39 years$1,017$649$401$241$142$31
40 years$980$618$376$223$129$26
41 years$946$588$352$205$117$23
42 years$913$560$331$190$106$20
43 years$882$533$310$175$97$17
44 years$852$508$291$162$88$15
45 years$824$485$273$149$80$13
46 years$797$463$257$138$72$11
47 years$771$441$241$127$66$10
48 years$746$421$227$118$60$8
49 years$723$402$213$109$54$7
50 years$700$384$200$101$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $717,000, adding $2,382 every year, while hoping to spend $33,760 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: 76/7/17 Blend
55$717,000$717,000$717,000$717,000
56$792,591$754,590$743,477$849,633
57$837,515$755,645$732,463$888,725
58$885,890$755,619$719,948$927,137
59$938,031$754,426$705,848$968,343
60$994,288$751,970$690,070$1,012,611
61$1,055,040$748,151$672,523$1,060,236
62$1,120,709$742,865$653,107$1,111,547
63$1,191,754$735,999$631,719$1,166,901
64$1,268,683$727,433$608,252$1,226,697
65$1,352,053$717,041$582,593$1,291,371
66$1,442,477$704,690$554,624$1,361,407
67$1,540,628$690,239$524,222$1,437,338
68$1,647,247$673,536$491,259$1,519,749
69$1,763,150$654,423$455,600$1,609,290
70$1,889,234$632,732$417,105$1,706,674
71$2,026,485$608,285$375,627$1,812,688
72$2,175,988$580,893$331,012$1,928,202
73$2,338,939$550,357$283,102$2,054,173
74$2,516,653$516,466$231,728$2,191,658
75$2,710,577$478,998$176,715$2,341,822
76$2,922,303$437,717$117,883$2,505,951
77$3,153,586$392,373$55,040$2,685,461
78$3,406,355$342,703$0$2,881,914
79$3,682,737$288,429$0$3,099,217
80$3,985,072$229,257$0$3,347,884
81$4,315,935$164,876$0$3,620,055
82$4,678,164$94,959$0$3,918,084
83$5,074,884$19,160$0$4,244,560
84$5,509,536$0$0$4,602,338
85$5,985,907$0$0$4,999,408
86$6,508,172$0$0$5,436,378
87$7,080,927$0$0$5,915,619
88$7,709,233$0$0$6,441,372
89$8,398,668$0$0$7,018,307
90$9,155,372$0$0$7,651,566
91$9,986,112$0$0$8,346,815
92$10,898,338$0$0$9,110,296
93$11,900,262$0$0$9,948,883
94$13,000,927$0$0$10,870,149
95$14,210,294$0$0$11,882,440
96$15,539,340$0$0$12,994,945
97$17,000,156$0$0$14,217,791
98$18,606,063$0$0$15,562,135
99$20,371,737$0$0$17,040,266
100$22,313,347$0$0$18,665,727