Can I retire at age 56 with 734,000?

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 $734,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$60,613$60,073$59,546$59,032$58,530$58,088
2 years$30,006$29,448$28,906$28,381$27,872$27,426
3 years$19,806$19,244$18,704$18,184$17,683$17,248
4 years$14,706$14,147$13,612$13,100$12,612$12,190
5 years$11,647$11,091$10,563$10,062$9,587$9,180
6 years$9,609$9,057$8,537$8,047$7,586$7,194
7 years$8,153$7,606$7,094$6,616$6,169$5,793
8 years$7,062$6,520$6,016$5,550$5,118$4,757
9 years$6,214$5,676$5,182$4,727$4,310$3,965
10 years$5,536$5,004$4,518$4,075$3,672$3,342
11 years$4,981$4,454$3,977$3,546$3,158$2,843
12 years$4,519$3,998$3,530$3,111$2,737$2,436
13 years$4,129$3,613$3,154$2,746$2,387$2,100
14 years$3,794$3,284$2,834$2,438$2,092$1,820
15 years$3,505$3,000$2,558$2,174$1,842$1,583
16 years$3,252$2,753$2,319$1,947$1,628$1,383
17 years$3,029$2,535$2,111$1,749$1,444$1,211
18 years$2,831$2,342$1,927$1,576$1,284$1,063
19 years$2,654$2,171$1,764$1,424$1,144$936
20 years$2,495$2,017$1,619$1,290$1,022$825
21 years$2,351$1,879$1,489$1,171$914$729
22 years$2,220$1,754$1,372$1,064$820$645
23 years$2,101$1,641$1,267$969$736$571
24 years$1,992$1,537$1,172$884$661$506
25 years$1,892$1,442$1,085$807$595$449
26 years$1,800$1,356$1,007$738$536$399
27 years$1,715$1,276$935$676$483$355
28 years$1,636$1,202$869$619$436$316
29 years$1,563$1,134$809$568$394$281
30 years$1,494$1,071$753$521$356$250
31 years$1,430$1,013$702$479$322$223
32 years$1,370$958$655$440$291$199
33 years$1,314$907$612$404$263$177
34 years$1,262$860$572$372$238$158
35 years$1,212$816$534$343$216$141
36 years$1,166$774$500$316$196$126
37 years$1,122$735$468$291$177$112
38 years$1,080$699$438$268$161$100
39 years$1,041$664$410$247$146$90
40 years$1,003$632$385$228$132$80
41 years$968$602$361$210$120$72
42 years$934$573$338$194$109$64
43 years$903$546$318$179$99$57
44 years$872$521$298$165$90$51
45 years$843$496$280$153$81$46
46 years$815$473$263$141$74$41
47 years$789$452$247$130$67$36
48 years$764$431$232$120$61$33
49 years$740$412$218$111$55$29
50 years$717$393$205$103$50$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $734,000, adding $5,830 every year, while hoping to spend $58,350 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: 28/49/23 Blend
55$734,000$734,000$734,000$734,000
56$814,882$775,980$764,603$831,689
57$835,916$751,919$728,133$821,247
58$857,139$724,723$688,486$804,510
59$878,511$694,178$645,493$785,306
60$899,981$660,055$598,980$763,460
61$921,495$622,114$548,761$738,789
62$942,990$580,099$494,647$711,096
63$964,393$533,742$436,436$680,173
64$985,624$482,759$373,919$645,799
65$1,006,591$426,847$306,879$607,740
66$1,027,190$365,689$235,086$565,745
67$1,047,305$298,949$158,302$519,551
68$1,066,804$226,272$76,280$468,875
69$1,085,542$147,283$0$413,417
70$1,103,354$61,586$0$355,621
71$1,120,055$0$0$312,543
72$1,135,442$0$0$281,997
73$1,149,283$0$0$284,114
74$1,161,324$0$0$285,609
75$1,171,281$0$0$286,390
76$1,178,835$0$0$286,358
77$1,183,634$0$0$285,401
78$1,185,286$0$0$283,396
79$1,183,356$0$0$280,207
80$1,177,359$0$0$275,682
81$1,166,760$0$0$269,652
82$1,150,964$0$0$261,931
83$1,129,309$0$0$252,313
84$1,101,066$0$0$240,570
85$1,065,424$0$0$226,448
86$1,021,485$0$0$209,668
87$968,258$0$0$189,920
88$904,643$0$0$166,862
89$829,424$0$0$140,116
90$741,258$0$0$109,264
91$638,655$0$0$73,842
92$519,974$0$0$33,340
93$383,397$0$0$0
94$226,916$0$0$0
95$48,313$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0