Can I retire at age 56 with 731,000?

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 $731,000?

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$60,365$59,828$59,303$58,791$58,291$56,111
2 years$29,884$29,327$28,788$28,265$27,758$25,587
3 years$19,725$19,166$18,628$18,110$17,611$15,516
4 years$14,646$14,089$13,556$13,047$12,560$10,559
5 years$11,600$11,046$10,520$10,021$9,548$7,645
6 years$9,569$9,020$8,502$8,014$7,555$5,751
7 years$8,120$7,575$7,065$6,589$6,144$4,439
8 years$7,033$6,493$5,992$5,527$5,097$3,490
9 years$6,188$5,653$5,161$4,708$4,293$2,780
10 years$5,513$4,983$4,499$4,058$3,657$2,238
11 years$4,961$4,436$3,961$3,532$3,146$1,815
12 years$4,501$3,982$3,515$3,098$2,726$1,481
13 years$4,112$3,598$3,141$2,735$2,377$1,215
14 years$3,779$3,271$2,822$2,428$2,084$1,000
15 years$3,491$2,988$2,548$2,165$1,835$826
16 years$3,239$2,741$2,310$1,939$1,621$684
17 years$3,016$2,525$2,102$1,742$1,438$567
18 years$2,819$2,333$1,919$1,570$1,278$472
19 years$2,643$2,162$1,757$1,418$1,139$393
20 years$2,484$2,009$1,612$1,285$1,018$327
21 years$2,341$1,871$1,483$1,166$911$273
22 years$2,211$1,747$1,367$1,060$816$228
23 years$2,093$1,634$1,262$965$733$190
24 years$1,984$1,531$1,167$881$659$159
25 years$1,885$1,437$1,081$804$593$133
26 years$1,793$1,350$1,002$735$534$111
27 years$1,708$1,271$931$673$481$93
28 years$1,629$1,197$865$617$434$78
29 years$1,556$1,130$805$565$392$65
30 years$1,488$1,067$750$519$354$55
31 years$1,424$1,008$699$477$320$46
32 years$1,365$954$652$438$290$38
33 years$1,309$904$609$403$262$32
34 years$1,257$856$569$371$237$27
35 years$1,207$812$532$341$215$23
36 years$1,161$771$498$314$195$19
37 years$1,117$732$466$290$177$16
38 years$1,076$696$436$267$160$13
39 years$1,037$662$409$246$145$11
40 years$999$630$383$227$132$9
41 years$964$599$359$209$119$8
42 years$931$571$337$193$108$7
43 years$899$544$316$178$98$5
44 years$869$518$297$165$89$5
45 years$840$494$279$152$81$4
46 years$812$472$262$141$74$3
47 years$786$450$246$130$67$3
48 years$761$430$231$120$61$2
49 years$737$410$217$111$55$2
50 years$714$392$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 $731,000, adding $2,011 every year, while hoping to spend $50,173 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: 82/7/11 Blend
55$731,000$731,000$731,000$731,000
56$807,636$768,893$757,563$872,208
57$836,632$753,185$729,558$899,105
58$866,903$735,026$698,932$921,797
59$898,527$714,243$665,547$945,209
60$931,588$690,652$629,254$969,388
61$966,175$664,059$589,899$994,384
62$1,002,387$634,260$547,322$1,020,250
63$1,040,328$601,036$501,356$1,047,049
64$1,080,114$564,160$451,824$1,074,846
65$1,121,869$523,387$398,543$1,103,716
66$1,165,728$478,461$341,322$1,133,740
67$1,211,837$429,111$279,962$1,165,008
68$1,260,357$375,049$214,253$1,197,621
69$1,311,460$315,973$143,977$1,231,687
70$1,365,336$251,563$68,907$1,267,329
71$1,422,191$181,480$0$1,304,681
72$1,482,249$105,367$0$1,345,207
73$1,545,755$22,847$0$1,396,473
74$1,612,977$0$0$1,450,595
75$1,684,206$0$0$1,512,926
76$1,759,762$0$0$1,580,918
77$1,839,993$0$0$1,653,126
78$1,925,281$0$0$1,729,895
79$2,016,044$0$0$1,811,601
80$2,112,737$0$0$1,898,656
81$2,215,861$0$0$1,991,512
82$2,325,964$0$0$2,090,664
83$2,443,646$0$0$2,196,655
84$2,569,565$0$0$2,310,077
85$2,704,443$0$0$2,431,584
86$2,849,071$0$0$2,561,890
87$3,004,318$0$0$2,701,779
88$3,171,136$0$0$2,852,112
89$3,350,572$0$0$3,013,833
90$3,543,773$0$0$3,187,980
91$3,752,002$0$0$3,375,693
92$3,976,642$0$0$3,578,222
93$4,219,217$0$0$3,796,943
94$4,481,399$0$0$4,033,366
95$4,765,026$0$0$4,289,152
96$5,072,118$0$0$4,566,126
97$5,404,897$0$0$4,866,295
98$5,765,805$0$0$5,191,866
99$6,157,529$0$0$5,545,265
100$6,583,022$0$0$5,929,162