Can I retire at age 56 with 728,000?

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 $728,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$60,118$59,582$59,060$58,550$58,052$56,694
2 years$29,761$29,207$28,670$28,149$27,644$26,284
3 years$19,644$19,087$18,551$18,035$17,538$16,219
4 years$14,586$14,031$13,501$12,993$12,508$11,239
5 years$11,552$11,000$10,477$9,980$9,509$8,293
6 years$9,530$8,983$8,467$7,981$7,524$6,363
7 years$8,087$7,544$7,036$6,562$6,119$5,013
8 years$7,004$6,466$5,967$5,505$5,076$4,025
9 years$6,163$5,630$5,139$4,689$4,275$3,278
10 years$5,490$4,963$4,481$4,042$3,642$2,698
11 years$4,940$4,418$3,945$3,517$3,133$2,240
12 years$4,482$3,965$3,501$3,085$2,715$1,872
13 years$4,095$3,583$3,128$2,724$2,367$1,573
14 years$3,763$3,257$2,810$2,418$2,075$1,328
15 years$3,476$2,976$2,537$2,156$1,827$1,125
16 years$3,225$2,730$2,300$1,931$1,615$956
17 years$3,004$2,514$2,093$1,735$1,432$814
18 years$2,808$2,323$1,911$1,563$1,273$695
19 years$2,632$2,153$1,749$1,413$1,135$595
20 years$2,474$2,001$1,606$1,279$1,014$509
21 years$2,332$1,864$1,477$1,161$907$437
22 years$2,202$1,740$1,361$1,056$813$375
23 years$2,084$1,627$1,257$962$730$322
24 years$1,976$1,525$1,162$877$656$277
25 years$1,877$1,431$1,076$801$590$239
26 years$1,785$1,345$998$732$532$205
27 years$1,701$1,265$927$670$479$177
28 years$1,623$1,192$862$614$433$153
29 years$1,550$1,125$802$563$391$132
30 years$1,482$1,062$747$517$353$113
31 years$1,419$1,004$696$475$319$98
32 years$1,359$950$650$436$289$85
33 years$1,304$900$607$401$261$73
34 years$1,252$853$567$369$236$63
35 years$1,202$809$530$340$214$54
36 years$1,156$768$496$313$194$47
37 years$1,113$729$464$288$176$41
38 years$1,071$693$435$266$159$35
39 years$1,032$659$407$245$145$30
40 years$995$627$382$226$131$26
41 years$960$597$358$209$119$23
42 years$927$568$336$192$108$20
43 years$895$542$315$178$98$17
44 years$865$516$296$164$89$15
45 years$836$492$278$151$81$13
46 years$809$470$261$140$73$11
47 years$783$448$245$129$67$9
48 years$758$428$230$119$60$8
49 years$734$409$216$110$55$7
50 years$711$390$203$102$50$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $728,000, adding $6,567 every year, while hoping to spend $37,122 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: 68/12/20 Blend
55$728,000$728,000$728,000$728,000
56$809,030$770,446$759,162$859,602
57$852,053$768,700$745,096$892,507
58$898,221$765,625$729,315$923,556
59$947,815$761,115$711,722$956,620
60$1,001,143$755,061$692,216$991,897
61$1,058,545$747,345$670,691$1,029,603
62$1,120,394$737,842$647,036$1,069,980
63$1,187,098$726,420$621,136$1,113,293
64$1,259,108$712,941$592,870$1,159,838
65$1,336,917$697,255$562,111$1,209,939
66$1,421,068$679,205$528,727$1,263,956
67$1,512,157$658,627$492,580$1,322,288
68$1,610,841$635,344$453,525$1,385,373
69$1,717,841$609,169$411,412$1,453,698
70$1,833,949$579,907$366,083$1,527,800
71$1,960,039$547,350$317,374$1,608,273
72$2,097,069$511,276$265,112$1,695,771
73$2,246,095$471,454$209,118$1,791,021
74$2,408,278$427,636$149,205$1,894,822
75$2,584,896$379,564$85,177$2,008,059
76$2,777,355$326,962$16,830$2,131,709
77$2,987,201$269,539$0$2,266,851
78$3,216,139$206,989$0$2,426,650
79$3,466,041$138,988$0$2,605,059
80$3,738,972$65,194$0$2,799,987
81$4,037,203$0$0$3,013,088
82$4,363,235$0$0$3,248,138
83$4,719,820$0$0$3,514,672
84$5,109,991$0$0$3,806,351
85$5,537,084$0$0$4,125,678
86$6,004,776$0$0$4,475,404
87$6,517,114$0$0$4,858,563
88$7,078,556$0$0$5,278,495
89$7,694,011$0$0$5,738,876
90$8,368,885$0$0$6,243,759
91$9,109,135$0$0$6,797,605
92$9,921,319$0$0$7,405,328
93$10,812,661$0$0$8,072,341
94$11,791,121$0$0$8,804,607
95$12,865,464$0$0$9,608,694
96$14,045,347$0$0$10,491,838
97$15,341,407$0$0$11,462,008
98$16,765,364$0$0$12,527,986
99$18,330,127$0$0$13,699,445
100$20,049,919$0$0$14,987,041