Can I retire at age 56 with 734,000?

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 $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%17%
1 years$60,613$60,073$59,546$59,032$58,530$56,862
2 years$30,006$29,448$28,906$28,381$27,872$26,204
3 years$19,806$19,244$18,704$18,184$17,683$16,068
4 years$14,706$14,147$13,612$13,100$12,612$11,061
5 years$11,647$11,091$10,563$10,062$9,587$8,106
6 years$9,609$9,057$8,537$8,047$7,586$6,176
7 years$8,153$7,606$7,094$6,616$6,169$4,830
8 years$7,062$6,520$6,016$5,550$5,118$3,849
9 years$6,214$5,676$5,182$4,727$4,310$3,110
10 years$5,536$5,004$4,518$4,075$3,672$2,539
11 years$4,981$4,454$3,977$3,546$3,158$2,091
12 years$4,519$3,998$3,530$3,111$2,737$1,732
13 years$4,129$3,613$3,154$2,746$2,387$1,443
14 years$3,794$3,284$2,834$2,438$2,092$1,207
15 years$3,505$3,000$2,558$2,174$1,842$1,013
16 years$3,252$2,753$2,319$1,947$1,628$853
17 years$3,029$2,535$2,111$1,749$1,444$720
18 years$2,831$2,342$1,927$1,576$1,284$609
19 years$2,654$2,171$1,764$1,424$1,144$516
20 years$2,495$2,017$1,619$1,290$1,022$437
21 years$2,351$1,879$1,489$1,171$914$371
22 years$2,220$1,754$1,372$1,064$820$316
23 years$2,101$1,641$1,267$969$736$268
24 years$1,992$1,537$1,172$884$661$229
25 years$1,892$1,442$1,085$807$595$195
26 years$1,800$1,356$1,007$738$536$166
27 years$1,715$1,276$935$676$483$141
28 years$1,636$1,202$869$619$436$121
29 years$1,563$1,134$809$568$394$103
30 years$1,494$1,071$753$521$356$88
31 years$1,430$1,013$702$479$322$75
32 years$1,370$958$655$440$291$64
33 years$1,314$907$612$404$263$55
34 years$1,262$860$572$372$238$47
35 years$1,212$816$534$343$216$40
36 years$1,166$774$500$316$196$34
37 years$1,122$735$468$291$177$29
38 years$1,080$699$438$268$161$25
39 years$1,041$664$410$247$146$21
40 years$1,003$632$385$228$132$18
41 years$968$602$361$210$120$16
42 years$934$573$338$194$109$13
43 years$903$546$318$179$99$11
44 years$872$521$298$165$90$10
45 years$843$496$280$153$81$8
46 years$815$473$263$141$74$7
47 years$789$452$247$130$67$6
48 years$764$431$232$120$61$5
49 years$740$412$218$111$55$4
50 years$717$393$205$103$50$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $734,000, adding $4,721 every year, while hoping to spend $28,089 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: 36/37/27 Blend
55$734,000$734,000$734,000$734,000
56$813,738$774,836$763,459$836,291
57$866,852$782,916$759,148$861,517
58$924,444$790,451$753,752$885,843
59$986,938$797,384$747,203$911,562
60$1,054,805$803,655$739,434$938,816
61$1,128,561$809,201$730,371$967,766
62$1,208,775$813,952$719,939$998,590
63$1,296,071$817,837$708,058$1,031,484
64$1,391,137$820,778$694,645$1,066,670
65$1,494,730$822,693$679,613$1,104,391
66$1,607,684$823,496$662,871$1,144,919
67$1,730,914$823,094$644,323$1,188,554
68$1,865,429$821,388$623,871$1,235,632
69$2,012,341$818,274$601,409$1,286,523
70$2,172,873$813,642$576,828$1,341,640
71$2,348,369$807,374$550,016$1,401,438
72$2,540,313$799,346$520,852$1,466,425
73$2,750,336$789,425$489,211$1,537,161
74$2,980,236$777,471$454,965$1,614,270
75$3,231,990$763,337$417,976$1,698,440
76$3,507,777$746,866$378,103$1,790,436
77$3,809,998$727,890$335,197$1,891,104
78$4,141,295$706,233$289,103$2,001,380
79$4,504,578$681,710$239,659$2,122,302
80$4,903,054$654,123$186,697$2,255,018
81$5,340,253$623,262$130,039$2,400,798
82$5,820,065$588,908$69,501$2,561,049
83$6,346,773$550,826$4,891$2,737,326
84$6,925,097$508,770$0$2,931,348
85$7,560,235$462,477$0$3,163,475
86$8,257,914$411,674$0$3,420,056
87$9,024,442$356,066$0$3,702,073
88$9,866,768$295,347$0$4,012,160
89$10,792,550$229,190$0$4,353,229
90$11,810,221$157,252$0$4,728,491
91$12,929,075$79,169$0$5,141,493
92$14,159,350$0$0$5,596,146
93$15,512,326$0$0$6,098,984
94$17,000,430$0$0$6,687,610
95$18,637,354$0$0$7,335,221
96$20,438,186$0$0$8,047,801
97$22,419,547$0$0$8,831,943
98$24,599,751$0$0$9,694,910
99$26,998,979$0$0$10,644,706
100$29,639,465$0$0$11,690,150