Can I retire at age 56 with 722,000?

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 $722,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$59,622$59,091$58,573$58,067$57,573$55,420
2 years$29,516$28,966$28,433$27,917$27,416$25,271
3 years$19,482$18,930$18,398$17,887$17,394$15,325
4 years$14,466$13,915$13,389$12,886$12,405$10,429
5 years$11,457$10,910$10,391$9,898$9,430$7,551
6 years$9,452$8,909$8,397$7,915$7,462$5,680
7 years$8,020$7,481$6,978$6,508$6,069$4,385
8 years$6,947$6,413$5,918$5,459$5,034$3,447
9 years$6,112$5,584$5,097$4,650$4,240$2,746
10 years$5,445$4,922$4,444$4,008$3,612$2,210
11 years$4,900$4,382$3,912$3,488$3,107$1,793
12 years$4,445$3,933$3,472$3,060$2,692$1,463
13 years$4,061$3,554$3,102$2,701$2,348$1,200
14 years$3,732$3,230$2,787$2,398$2,058$988
15 years$3,448$2,951$2,516$2,139$1,812$816
16 years$3,199$2,708$2,282$1,915$1,601$675
17 years$2,979$2,494$2,076$1,720$1,420$560
18 years$2,784$2,304$1,895$1,551$1,263$466
19 years$2,610$2,135$1,735$1,401$1,125$388
20 years$2,454$1,984$1,592$1,269$1,005$323
21 years$2,312$1,848$1,465$1,152$900$270
22 years$2,184$1,725$1,350$1,047$806$225
23 years$2,067$1,614$1,246$954$724$188
24 years$1,960$1,512$1,153$870$651$157
25 years$1,861$1,419$1,068$794$585$131
26 years$1,771$1,334$990$726$527$110
27 years$1,687$1,255$919$665$475$92
28 years$1,609$1,183$855$609$429$77
29 years$1,537$1,116$795$559$387$64
30 years$1,470$1,054$741$513$350$54
31 years$1,407$996$691$471$316$45
32 years$1,348$942$644$433$286$38
33 years$1,293$892$602$398$259$32
34 years$1,241$846$562$366$235$27
35 years$1,193$802$526$337$212$22
36 years$1,147$761$492$310$192$19
37 years$1,103$723$460$286$174$16
38 years$1,062$687$431$264$158$13
39 years$1,024$654$404$243$143$11
40 years$987$622$378$224$130$9
41 years$952$592$355$207$118$8
42 years$919$564$333$191$107$6
43 years$888$537$312$176$97$5
44 years$858$512$293$163$88$5
45 years$829$488$275$150$80$4
46 years$802$466$259$139$73$3
47 years$776$444$243$128$66$3
48 years$751$424$228$118$60$2
49 years$728$405$215$109$54$2
50 years$705$387$202$101$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $722,000, adding $5,619 every year, while hoping to spend $21,253 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: 55/33/12 Blend
55$722,000$722,000$722,000$722,000
56$801,440$763,174$751,983$842,759
57$860,574$777,956$754,561$886,205
58$925,027$792,751$756,514$930,688
59$995,320$807,536$757,797$978,625
60$1,072,024$822,287$758,365$1,030,351
61$1,155,771$836,979$758,171$1,086,231
62$1,247,254$851,585$757,163$1,146,672
63$1,347,236$866,075$755,290$1,212,118
64$1,456,558$880,417$752,497$1,283,061
65$1,576,146$894,576$748,724$1,360,045
66$1,707,019$908,517$743,913$1,443,666
67$1,850,299$922,198$737,998$1,534,583
68$2,007,223$935,579$730,914$1,633,522
69$2,179,151$948,614$722,591$1,741,284
70$2,367,582$961,254$712,956$1,858,751
71$2,574,167$973,447$701,932$1,986,897
72$2,800,724$985,138$689,439$2,126,795
73$3,049,256$996,268$675,393$2,279,628
74$3,321,968$1,006,773$659,706$2,446,699
75$3,621,290$1,016,586$642,288$2,629,446
76$3,949,897$1,025,635$623,040$2,829,456
77$4,310,739$1,033,843$601,864$3,048,475
78$4,707,062$1,041,129$578,655$3,288,432
79$5,142,444$1,047,406$553,301$3,551,449
80$5,620,826$1,052,581$525,689$3,839,871
81$6,146,548$1,056,556$495,698$4,156,279
82$6,724,395$1,059,226$463,203$4,503,521
83$7,359,636$1,060,481$428,073$4,884,735
84$8,058,076$1,060,201$390,170$5,303,384
85$8,826,111$1,058,262$349,352$5,763,282
86$9,670,788$1,054,531$305,469$6,268,637
87$10,599,872$1,048,866$258,365$6,824,085
88$11,621,915$1,041,117$207,877$7,434,739
89$12,746,344$1,031,126$153,835$8,106,237
90$13,983,544$1,018,723$96,061$8,844,791
91$15,344,955$1,003,730$34,368$9,657,253
92$16,843,185$985,958$0$10,551,173
93$18,492,126$965,206$0$11,538,907
94$20,307,084$941,262$0$12,630,560
95$22,304,923$913,900$0$13,831,871
96$24,504,227$882,883$0$15,154,022
97$26,925,472$847,959$0$16,609,335
98$29,591,222$808,860$0$18,211,393
99$32,526,337$765,305$0$19,975,168
100$35,758,214$716,995$0$21,917,160