Can I retire at age 56 with 733,000?

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 $733,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$60,530$59,991$59,465$58,952$58,450$57,294
2 years$29,966$29,407$28,867$28,342$27,834$26,673
3 years$19,779$19,218$18,679$18,159$17,659$16,531
4 years$14,686$14,127$13,593$13,083$12,594$11,507
5 years$11,631$11,076$10,549$10,049$9,574$8,531
6 years$9,596$9,044$8,525$8,036$7,576$6,578
7 years$8,142$7,595$7,084$6,607$6,161$5,209
8 years$7,052$6,511$6,008$5,542$5,111$4,205
9 years$6,205$5,669$5,175$4,721$4,304$3,442
10 years$5,528$4,997$4,512$4,069$3,667$2,850
11 years$4,974$4,448$3,972$3,542$3,154$2,379
12 years$4,513$3,993$3,525$3,106$2,733$2,000
13 years$4,123$3,608$3,149$2,743$2,384$1,691
14 years$3,789$3,280$2,830$2,435$2,089$1,436
15 years$3,500$2,996$2,555$2,171$1,840$1,224
16 years$3,247$2,749$2,316$1,944$1,626$1,047
17 years$3,025$2,532$2,108$1,747$1,442$898
18 years$2,827$2,339$1,924$1,574$1,282$771
19 years$2,650$2,168$1,761$1,422$1,143$664
20 years$2,491$2,015$1,617$1,288$1,021$573
21 years$2,348$1,877$1,487$1,169$913$495
22 years$2,217$1,752$1,370$1,063$819$428
23 years$2,098$1,638$1,265$968$735$370
24 years$1,990$1,535$1,170$883$660$321
25 years$1,890$1,441$1,084$806$594$278
26 years$1,798$1,354$1,005$737$535$241
27 years$1,713$1,274$933$675$483$209
28 years$1,634$1,201$868$618$436$182
29 years$1,560$1,133$808$567$393$158
30 years$1,492$1,070$752$520$355$137
31 years$1,428$1,011$701$478$321$119
32 years$1,369$957$654$439$291$104
33 years$1,313$906$611$404$263$90
34 years$1,260$859$571$372$238$78
35 years$1,211$815$534$342$216$68
36 years$1,164$773$499$315$195$59
37 years$1,120$734$467$290$177$52
38 years$1,079$698$438$268$161$45
39 years$1,039$664$410$247$146$39
40 years$1,002$631$384$228$132$34
41 years$967$601$360$210$120$30
42 years$933$572$338$194$109$26
43 years$901$545$317$179$99$22
44 years$871$520$298$165$90$20
45 years$842$496$280$153$81$17
46 years$814$473$263$141$74$15
47 years$788$451$247$130$67$13
48 years$763$431$232$120$61$11
49 years$739$411$218$111$55$10
50 years$716$393$205$103$50$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $733,000, adding $4,789 every year, while hoping to spend $42,463 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: 43/44/13 Blend
55$733,000$733,000$733,000$733,000
56$812,706$773,857$762,495$844,391
57$850,422$766,596$742,859$859,770
58$890,561$757,555$721,141$871,799
59$933,327$746,604$697,228$883,899
60$978,940$733,602$670,999$896,094
61$1,027,645$718,401$642,330$908,414
62$1,079,706$700,843$611,089$920,895
63$1,135,415$680,764$577,140$933,580
64$1,195,092$657,986$540,339$946,521
65$1,259,088$632,324$500,537$959,777
66$1,327,788$603,581$457,578$973,420
67$1,401,614$571,548$411,298$987,531
68$1,481,029$536,005$361,527$1,002,206
69$1,566,543$496,718$308,087$1,017,554
70$1,658,714$453,441$250,792$1,033,702
71$1,758,157$405,914$189,448$1,050,794
72$1,865,546$353,861$123,852$1,068,996
73$1,981,623$296,991$53,792$1,088,496
74$2,107,202$234,997$0$1,109,510
75$2,243,179$167,554$0$1,135,190
76$2,390,538$94,319$0$1,171,054
77$2,550,362$14,930$0$1,209,980
78$2,723,843$0$0$1,252,355
79$2,912,288$0$0$1,332,987
80$3,117,139$0$0$1,428,576
81$3,339,981$0$0$1,532,644
82$3,582,556$0$0$1,646,014
83$3,846,784$0$0$1,769,596
84$4,134,776$0$0$1,904,386
85$4,448,855$0$0$2,051,486
86$4,791,578$0$0$2,212,104
87$5,165,761$0$0$2,387,574
88$5,574,502$0$0$2,579,361
89$6,021,212$0$0$2,789,081
90$6,509,647$0$0$3,018,511
91$7,043,942$0$0$3,269,608
92$7,628,650$0$0$3,544,528
93$8,268,784$0$0$3,845,645
94$8,969,866$0$0$4,175,573
95$9,737,974$0$0$4,537,189
96$10,579,804$0$0$4,933,666
97$11,502,731$0$0$5,368,494
98$12,514,875$0$0$5,845,520
99$13,625,182$0$0$6,368,979
100$14,843,505$0$0$6,943,539