Can I retire at age 56 with 729,000?

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 $729,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$60,200$59,664$59,141$58,630$58,131$56,002
2 years$29,802$29,247$28,709$28,188$27,682$25,560
3 years$19,671$19,113$18,577$18,060$17,562$15,515
4 years$14,606$14,050$13,519$13,011$12,526$10,569
5 years$11,568$11,016$10,491$9,994$9,522$7,660
6 years$9,543$8,995$8,479$7,992$7,534$5,769
7 years$8,098$7,554$7,046$6,571$6,127$4,458
8 years$7,014$6,475$5,975$5,512$5,083$3,509
9 years$6,171$5,638$5,147$4,695$4,281$2,799
10 years$5,498$4,969$4,487$4,047$3,647$2,255
11 years$4,947$4,424$3,950$3,522$3,137$1,832
12 years$4,488$3,971$3,506$3,090$2,718$1,497
13 years$4,101$3,588$3,132$2,728$2,371$1,229
14 years$3,769$3,262$2,814$2,421$2,078$1,013
15 years$3,481$2,980$2,541$2,159$1,830$838
16 years$3,230$2,734$2,304$1,933$1,617$695
17 years$3,008$2,518$2,096$1,737$1,434$578
18 years$2,811$2,326$1,914$1,566$1,275$481
19 years$2,636$2,156$1,752$1,415$1,136$401
20 years$2,478$2,004$1,608$1,281$1,015$334
21 years$2,335$1,866$1,479$1,163$908$279
22 years$2,205$1,742$1,363$1,057$814$234
23 years$2,087$1,629$1,258$963$731$195
24 years$1,979$1,527$1,164$878$657$164
25 years$1,879$1,433$1,078$802$591$137
26 years$1,788$1,346$1,000$733$532$115
27 years$1,703$1,267$928$671$480$96
28 years$1,625$1,194$863$615$433$81
29 years$1,552$1,126$803$564$391$68
30 years$1,484$1,064$748$518$353$57
31 years$1,421$1,006$697$475$320$48
32 years$1,361$952$651$437$289$40
33 years$1,306$901$608$402$262$34
34 years$1,253$854$568$370$237$28
35 years$1,204$810$531$340$214$24
36 years$1,158$769$496$313$194$20
37 years$1,114$730$465$289$176$17
38 years$1,073$694$435$266$160$14
39 years$1,034$660$408$245$145$12
40 years$997$628$382$226$131$10
41 years$962$598$358$209$119$8
42 years$928$569$336$193$108$7
43 years$896$542$315$178$98$6
44 years$866$517$296$164$89$5
45 years$837$493$278$152$81$4
46 years$810$470$261$140$73$3
47 years$784$449$245$129$67$3
48 years$759$428$231$120$61$2
49 years$735$409$217$111$55$2
50 years$712$391$204$102$50$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $729,000, adding $6,727 every year, while hoping to spend $29,036 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: 59/23/18 Blend
55$729,000$729,000$729,000$729,000
56$810,297$771,660$760,360$853,929
57$862,053$778,577$754,938$891,172
58$918,115$784,860$748,362$927,990
59$978,892$790,447$740,561$967,481
60$1,044,832$795,273$731,463$1,009,906
61$1,116,431$799,267$720,992$1,055,556
62$1,194,231$802,354$709,069$1,104,752
63$1,278,829$804,457$695,611$1,157,848
64$1,370,885$805,491$680,529$1,215,236
65$1,471,121$805,366$663,732$1,277,346
66$1,580,335$803,987$645,126$1,344,657
67$1,699,401$801,255$624,610$1,417,696
68$1,829,285$797,062$602,080$1,497,044
69$1,971,049$791,294$577,426$1,583,344
70$2,125,860$783,832$550,534$1,677,305
71$2,295,006$774,548$521,285$1,779,712
72$2,479,903$763,307$489,554$1,891,430
73$2,682,109$749,965$455,211$2,013,412
74$2,903,342$734,371$418,118$2,146,714
75$3,145,492$716,364$378,134$2,292,500
76$3,410,640$695,774$335,110$2,452,055
77$3,701,079$672,421$288,890$2,626,796
78$4,019,334$646,115$239,312$2,818,289
79$4,368,184$616,652$186,207$3,028,261
80$4,750,691$583,821$129,397$3,258,619
81$5,170,228$547,394$68,699$3,511,468
82$5,630,509$507,135$3,918$3,789,127
83$6,135,626$462,789$0$4,094,161
84$6,690,085$414,091$0$4,441,920
85$7,298,851$360,758$0$4,824,615
86$7,967,392$302,493$0$5,244,978
87$8,701,731$238,981$0$5,706,848
88$9,508,506$169,889$0$6,214,459
89$10,395,027$94,867$0$6,772,480
90$11,369,347$13,543$0$7,386,057
91$12,440,339$0$0$8,060,865
92$13,617,780$0$0$8,822,009
93$14,912,438$0$0$9,662,761
94$16,336,179$0$0$10,587,410
95$17,902,075$0$0$11,604,452
96$19,624,531$0$0$12,723,252
97$21,519,415$0$0$13,954,126
98$23,604,213$0$0$15,308,443
99$25,898,189$0$0$16,798,726
100$28,422,571$0$0$18,438,776