Can I retire at age 56 with 732,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $732,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$60,448$59,909$59,384$58,871$58,371$56,960
2 years$29,925$29,367$28,827$28,304$27,796$26,382
3 years$19,752$19,192$18,653$18,134$17,635$16,264
4 years$14,666$14,108$13,575$13,065$12,577$11,259
5 years$11,616$11,061$10,535$10,035$9,561$8,299
6 years$9,583$9,032$8,513$8,025$7,565$6,361
7 years$8,131$7,585$7,075$6,598$6,153$5,006
8 years$7,043$6,502$6,000$5,535$5,104$4,015
9 years$6,197$5,661$5,168$4,714$4,298$3,265
10 years$5,520$4,990$4,505$4,064$3,662$2,685
11 years$4,967$4,442$3,966$3,537$3,150$2,226
12 years$4,507$3,987$3,520$3,102$2,730$1,858
13 years$4,118$3,603$3,145$2,739$2,380$1,559
14 years$3,784$3,275$2,826$2,431$2,087$1,314
15 years$3,495$2,992$2,551$2,168$1,837$1,112
16 years$3,243$2,745$2,313$1,941$1,624$943
17 years$3,021$2,528$2,105$1,744$1,440$802
18 years$2,823$2,336$1,921$1,572$1,280$684
19 years$2,647$2,165$1,759$1,420$1,141$584
20 years$2,488$2,012$1,614$1,286$1,019$500
21 years$2,344$1,874$1,485$1,168$912$428
22 years$2,214$1,749$1,369$1,062$817$367
23 years$2,096$1,636$1,264$967$734$315
24 years$1,987$1,533$1,169$882$660$270
25 years$1,887$1,439$1,082$805$594$232
26 years$1,795$1,352$1,004$736$535$200
27 years$1,710$1,272$932$674$482$172
28 years$1,631$1,199$867$617$435$148
29 years$1,558$1,131$806$566$393$127
30 years$1,490$1,068$751$520$355$110
31 years$1,426$1,010$700$477$321$94
32 years$1,367$955$653$439$290$81
33 years$1,311$905$610$403$263$70
34 years$1,258$858$570$371$238$60
35 years$1,209$813$533$342$215$52
36 years$1,163$772$499$315$195$45
37 years$1,119$733$467$290$177$39
38 years$1,077$697$437$267$160$33
39 years$1,038$663$409$246$145$29
40 years$1,001$630$384$227$132$25
41 years$965$600$360$210$120$21
42 years$932$572$338$194$109$18
43 years$900$545$317$179$99$16
44 years$870$519$297$165$89$14
45 years$841$495$279$152$81$12
46 years$813$472$262$141$74$10
47 years$787$451$246$130$67$9
48 years$762$430$231$120$61$8
49 years$738$411$218$111$55$7
50 years$715$392$205$103$50$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $732,000, adding $4,499 every year, while hoping to spend $38,957 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: 61/16/23 Blend
55$732,000$732,000$732,000$732,000
56$811,305$772,509$761,163$855,604
57$852,608$768,912$745,212$882,558
58$896,818$763,833$727,421$907,297
59$944,191$757,158$707,687$933,436
60$995,007$748,767$685,903$961,117
61$1,049,573$738,532$661,956$990,499
62$1,108,227$726,318$635,729$1,021,757
63$1,171,339$711,980$607,098$1,055,089
64$1,239,315$695,366$575,936$1,090,710
65$1,312,603$676,317$542,107$1,128,863
66$1,391,692$654,661$505,472$1,169,816
67$1,477,123$630,217$465,883$1,213,866
68$1,569,488$602,796$423,188$1,261,342
69$1,669,436$572,194$377,226$1,312,611
70$1,777,686$538,198$327,830$1,368,078
71$1,895,023$500,583$274,825$1,428,193
72$2,022,312$459,108$218,029$1,493,455
73$2,160,506$413,523$157,251$1,564,415
74$2,310,651$363,559$92,293$1,641,685
75$2,473,899$308,935$22,946$1,725,943
76$2,651,516$249,352$0$1,817,940
77$2,844,897$184,496$0$1,931,035
78$3,055,574$114,035$0$2,060,442
79$3,285,236$37,616$0$2,201,599
80$3,535,741$0$0$2,355,692
81$3,809,133$0$0$2,531,975
82$4,107,662$0$0$2,731,751
83$4,433,805$0$0$2,950,062
84$4,790,292$0$0$3,188,741
85$5,180,123$0$0$3,449,804
86$5,606,605$0$0$3,735,475
87$6,073,379$0$0$4,048,198
88$6,584,454$0$0$4,390,667
89$7,144,243$0$0$4,765,849
90$7,757,608$0$0$5,177,011
91$8,429,903$0$0$5,627,750
92$9,167,024$0$0$6,122,029
93$9,975,466$0$0$6,664,212
94$10,862,381$0$0$7,259,107
95$11,835,648$0$0$7,912,008
96$12,903,945$0$0$8,628,748
97$14,076,831$0$0$9,415,752
98$15,364,838$0$0$10,280,096
99$16,779,565$0$0$11,229,577
100$18,333,791$0$0$12,272,784