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%14.4%
1 years$60,200$59,664$59,141$58,630$58,131$57,075
2 years$29,802$29,247$28,709$28,188$27,682$26,621
3 years$19,671$19,113$18,577$18,060$17,562$16,530
4 years$14,606$14,050$13,519$13,011$12,526$11,530
5 years$11,568$11,016$10,491$9,994$9,522$8,566
6 years$9,543$8,995$8,479$7,992$7,534$6,620
7 years$8,098$7,554$7,046$6,571$6,127$5,254
8 years$7,014$6,475$5,975$5,512$5,083$4,250
9 years$6,171$5,638$5,147$4,695$4,281$3,488
10 years$5,498$4,969$4,487$4,047$3,647$2,895
11 years$4,947$4,424$3,950$3,522$3,137$2,423
12 years$4,488$3,971$3,506$3,090$2,718$2,042
13 years$4,101$3,588$3,132$2,728$2,371$1,731
14 years$3,769$3,262$2,814$2,421$2,078$1,474
15 years$3,481$2,980$2,541$2,159$1,830$1,260
16 years$3,230$2,734$2,304$1,933$1,617$1,081
17 years$3,008$2,518$2,096$1,737$1,434$929
18 years$2,811$2,326$1,914$1,566$1,275$801
19 years$2,636$2,156$1,752$1,415$1,136$692
20 years$2,478$2,004$1,608$1,281$1,015$598
21 years$2,335$1,866$1,479$1,163$908$518
22 years$2,205$1,742$1,363$1,057$814$449
23 years$2,087$1,629$1,258$963$731$390
24 years$1,979$1,527$1,164$878$657$339
25 years$1,879$1,433$1,078$802$591$295
26 years$1,788$1,346$1,000$733$532$256
27 years$1,703$1,267$928$671$480$223
28 years$1,625$1,194$863$615$433$195
29 years$1,552$1,126$803$564$391$170
30 years$1,484$1,064$748$518$353$148
31 years$1,421$1,006$697$475$320$129
32 years$1,361$952$651$437$289$112
33 years$1,306$901$608$402$262$98
34 years$1,253$854$568$370$237$86
35 years$1,204$810$531$340$214$75
36 years$1,158$769$496$313$194$65
37 years$1,114$730$465$289$176$57
38 years$1,073$694$435$266$160$50
39 years$1,034$660$408$245$145$43
40 years$997$628$382$226$131$38
41 years$962$598$358$209$119$33
42 years$928$569$336$193$108$29
43 years$896$542$315$178$98$25
44 years$866$517$296$164$89$22
45 years$837$493$278$152$81$19
46 years$810$470$261$140$73$17
47 years$784$449$245$129$67$15
48 years$759$428$231$120$61$13
49 years$735$409$217$111$55$11
50 years$712$391$204$102$50$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $729,000, adding $3,896 every year, while hoping to spend $34,067 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: 47/43/10 Blend
55$729,000$729,000$729,000$729,000
56$807,377$768,740$757,440$842,919
57$853,482$770,161$746,567$869,230
58$903,148$770,510$734,189$893,915
59$956,703$769,698$720,217$919,928
60$1,014,505$767,632$704,563$947,404
61$1,076,950$764,212$687,132$976,493
62$1,144,472$759,331$667,823$1,007,362
63$1,217,548$752,878$646,535$1,040,196
64$1,296,702$744,733$623,158$1,075,203
65$1,382,512$734,771$597,580$1,112,612
66$1,475,610$722,857$569,681$1,152,680
67$1,576,695$708,850$539,338$1,195,692
68$1,686,534$692,599$506,422$1,241,962
69$1,805,971$673,947$470,797$1,291,844
70$1,935,933$652,724$432,323$1,345,727
71$2,077,443$628,752$390,850$1,404,045
72$2,231,624$601,843$346,226$1,467,279
73$2,399,714$571,797$298,288$1,535,964
74$2,583,073$538,403$246,869$1,610,692
75$2,783,201$501,439$191,793$1,692,121
76$3,001,746$460,669$132,877$1,780,979
77$3,240,524$415,842$69,929$1,878,075
78$3,501,535$366,695$2,749$1,984,305
79$3,786,979$312,951$0$2,100,662
80$4,099,280$254,314$0$2,235,602
81$4,441,104$190,474$0$2,383,778
82$4,815,392$121,102$0$2,546,270
83$5,225,378$45,851$0$2,724,598
84$5,674,624$0$0$2,920,442
85$6,167,057$0$0$3,152,525
86$6,706,996$0$0$3,430,870
87$7,299,202$0$0$3,736,244
88$7,948,919$0$0$4,071,363
89$8,661,920$0$0$4,439,215
90$9,444,567$0$0$4,843,094
91$10,303,866$0$0$5,286,628
92$11,247,537$0$0$5,773,813
93$12,284,082$0$0$6,309,051
94$13,422,866$0$0$6,897,192
95$14,674,210$0$0$7,543,579
96$16,049,481$0$0$8,254,098
97$17,561,202$0$0$9,035,234
98$19,223,170$0$0$9,894,131
99$21,050,588$0$0$10,838,661
100$23,060,201$0$0$11,877,495