Can I retire at age 56 with 719,000?

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 $719,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$59,374$58,845$58,329$57,826$57,334$56,901
2 years$29,393$28,846$28,315$27,801$27,302$26,866
3 years$19,401$18,851$18,322$17,812$17,321$16,895
4 years$14,406$13,858$13,334$12,833$12,354$11,941
5 years$11,409$10,864$10,347$9,857$9,391$8,992
6 years$9,412$8,872$8,362$7,883$7,431$7,047
7 years$7,987$7,450$6,949$6,481$6,043$5,675
8 years$6,918$6,386$5,893$5,436$5,014$4,660
9 years$6,087$5,560$5,076$4,631$4,222$3,884
10 years$5,422$4,901$4,425$3,992$3,597$3,274
11 years$4,879$4,363$3,896$3,474$3,094$2,785
12 years$4,427$3,916$3,458$3,047$2,681$2,387
13 years$4,044$3,539$3,089$2,690$2,338$2,058
14 years$3,717$3,217$2,776$2,388$2,049$1,783
15 years$3,433$2,939$2,506$2,130$1,805$1,551
16 years$3,185$2,696$2,272$1,907$1,595$1,354
17 years$2,967$2,483$2,067$1,713$1,414$1,186
18 years$2,773$2,295$1,887$1,544$1,257$1,042
19 years$2,600$2,127$1,728$1,395$1,121$917
20 years$2,444$1,976$1,586$1,264$1,001$808
21 years$2,303$1,841$1,459$1,147$896$714
22 years$2,175$1,718$1,344$1,043$803$631
23 years$2,058$1,607$1,241$950$721$559
24 years$1,952$1,506$1,148$866$648$496
25 years$1,854$1,413$1,063$791$583$440
26 years$1,763$1,328$986$723$525$391
27 years$1,680$1,250$916$662$473$348
28 years$1,602$1,178$851$607$427$309
29 years$1,531$1,111$792$556$386$275
30 years$1,464$1,049$738$510$349$245
31 years$1,401$992$688$469$315$218
32 years$1,342$939$642$431$285$195
33 years$1,288$889$599$396$258$174
34 years$1,236$842$560$365$234$155
35 years$1,188$799$523$336$212$138
36 years$1,142$758$490$309$192$123
37 years$1,099$720$458$285$174$110
38 years$1,058$684$429$262$157$98
39 years$1,020$651$402$242$143$88
40 years$983$619$377$223$130$78
41 years$948$589$353$206$118$70
42 years$915$561$332$190$107$63
43 years$884$535$311$175$97$56
44 years$854$510$292$162$88$50
45 years$826$486$274$150$80$45
46 years$799$464$258$138$72$40
47 years$773$443$242$128$66$36
48 years$748$423$227$118$60$32
49 years$725$404$214$109$54$29
50 years$702$385$201$101$49$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $719,000, adding $2,041 every year, while hoping to spend $51,641 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: 72/5/23 Blend
55$719,000$719,000$719,000$719,000
56$794,443$756,336$745,192$846,973
57$820,531$738,451$715,210$864,376
58$847,549$717,959$682,493$877,106
59$875,537$694,677$646,895$889,779
60$904,538$668,413$608,263$902,383
61$934,598$638,962$566,437$914,906
62$965,765$606,109$521,250$927,335
63$998,090$569,625$472,529$939,656
64$1,031,627$529,269$420,090$951,859
65$1,066,435$484,785$363,745$963,929
66$1,102,574$435,902$303,294$975,856
67$1,140,112$382,337$238,529$987,627
68$1,179,119$323,786$169,235$999,231
69$1,219,669$259,933$95,185$1,010,658
70$1,261,845$190,439$16,143$1,021,898
71$1,305,732$114,949$0$1,032,943
72$1,351,424$33,089$0$1,060,526
73$1,399,021$0$0$1,093,218
74$1,448,630$0$0$1,130,172
75$1,500,366$0$0$1,170,616
76$1,554,355$0$0$1,212,828
77$1,610,730$0$0$1,256,914
78$1,669,638$0$0$1,302,989
79$1,731,234$0$0$1,351,176
80$1,795,689$0$0$1,401,610
81$1,863,186$0$0$1,454,435
82$1,933,925$0$0$1,509,809
83$2,008,120$0$0$1,567,903
84$2,086,008$0$0$1,628,901
85$2,167,841$0$0$1,693,004
86$2,253,896$0$0$1,760,432
87$2,344,474$0$0$1,831,422
88$2,439,903$0$0$1,906,233
89$2,540,539$0$0$1,985,146
90$2,646,770$0$0$2,068,470
91$2,759,021$0$0$2,156,539
92$2,877,753$0$0$2,249,719
93$3,003,471$0$0$2,348,410
94$3,136,726$0$0$2,453,048
95$3,278,120$0$0$2,564,110
96$3,428,312$0$0$2,682,117
97$3,588,022$0$0$2,807,639
98$3,758,039$0$0$2,941,300
99$3,939,224$0$0$3,083,785
100$4,132,523$0$0$3,235,841