Can I retire at age 56 with 738,000?

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 $738,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$60,943$60,400$59,871$59,354$58,849$57,403
2 years$30,170$29,608$29,064$28,536$28,023$26,576
3 years$19,914$19,349$18,806$18,283$17,779$16,375
4 years$14,786$14,224$13,686$13,172$12,680$11,330
5 years$11,711$11,152$10,621$10,117$9,639$8,347
6 years$9,661$9,106$8,583$8,091$7,627$6,394
7 years$8,198$7,647$7,133$6,652$6,203$5,029
8 years$7,100$6,555$6,049$5,580$5,146$4,031
9 years$6,248$5,707$5,210$4,753$4,334$3,277
10 years$5,566$5,031$4,542$4,097$3,693$2,692
11 years$5,008$4,479$3,999$3,566$3,176$2,231
12 years$4,544$4,020$3,549$3,128$2,752$1,861
13 years$4,151$3,633$3,171$2,761$2,400$1,560
14 years$3,815$3,302$2,849$2,451$2,104$1,314
15 years$3,524$3,016$2,572$2,186$1,852$1,111
16 years$3,270$2,768$2,332$1,957$1,637$942
17 years$3,045$2,549$2,122$1,759$1,451$801
18 years$2,846$2,355$1,937$1,585$1,291$682
19 years$2,668$2,183$1,773$1,432$1,150$582
20 years$2,508$2,028$1,628$1,297$1,027$498
21 years$2,364$1,889$1,497$1,177$919$426
22 years$2,232$1,764$1,380$1,070$824$365
23 years$2,113$1,649$1,274$975$740$313
24 years$2,003$1,545$1,178$889$665$268
25 years$1,903$1,450$1,091$812$598$230
26 years$1,810$1,363$1,012$742$539$198
27 years$1,724$1,283$940$679$486$170
28 years$1,645$1,209$874$623$438$146
29 years$1,571$1,140$813$571$396$126
30 years$1,502$1,077$757$524$358$108
31 years$1,438$1,018$706$481$323$93
32 years$1,378$963$659$442$293$80
33 years$1,322$912$615$407$265$69
34 years$1,269$865$575$374$240$59
35 years$1,219$820$537$344$217$51
36 years$1,172$778$503$317$197$44
37 years$1,128$739$470$292$178$38
38 years$1,086$703$441$269$162$33
39 years$1,046$668$413$248$147$28
40 years$1,009$636$387$229$133$24
41 years$973$605$363$211$121$21
42 years$940$576$340$195$109$18
43 years$907$549$319$180$99$16
44 years$877$523$300$166$90$13
45 years$848$499$281$154$82$12
46 years$820$476$264$142$74$10
47 years$793$454$248$131$67$9
48 years$768$434$233$121$61$7
49 years$744$414$219$112$56$6
50 years$721$396$206$103$51$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $738,000, adding $2,747 every year, while hoping to spend $47,614 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: 43/40/17 Blend
55$738,000$738,000$738,000$738,000
56$816,110$776,996$765,557$847,057
57$848,692$764,407$740,542$856,519
58$883,002$749,607$713,093$861,855
59$919,165$732,434$683,079$866,626
60$957,319$712,723$650,361$870,804
61$997,613$690,294$614,796$874,359
62$1,040,211$664,960$576,233$877,264
63$1,085,290$636,521$534,515$879,491
64$1,133,045$604,766$489,476$881,016
65$1,183,689$569,472$440,947$881,815
66$1,237,453$530,404$388,746$881,869
67$1,294,591$487,311$332,687$881,159
68$1,355,381$439,931$272,574$879,674
69$1,420,127$387,985$208,202$877,403
70$1,489,162$331,178$139,359$874,344
71$1,562,850$269,200$65,821$870,501
72$1,641,590$201,720$0$865,883
73$1,725,822$128,394$0$862,807
74$1,816,023$48,853$0$871,895
75$1,912,722$0$0$881,283
76$2,016,495$0$0$907,487
77$2,127,976$0$0$958,799
78$2,247,860$0$0$1,014,047
79$2,376,912$0$0$1,073,589
80$2,515,970$0$0$1,137,822
81$2,665,956$0$0$1,207,180
82$2,827,880$0$0$1,282,143
83$3,002,856$0$0$1,363,233
84$3,192,106$0$0$1,451,031
85$3,396,971$0$0$1,546,168
86$3,618,930$0$0$1,649,345
87$3,859,607$0$0$1,761,328
88$4,120,785$0$0$1,882,961
89$4,404,431$0$0$2,015,173
90$4,712,702$0$0$2,158,986
91$5,047,977$0$0$2,315,523
92$5,412,869$0$0$2,486,020
93$5,810,255$0$0$2,671,839
94$6,243,300$0$0$2,874,478
95$6,715,489$0$0$3,095,584
96$7,230,655$0$0$3,336,972
97$7,793,019$0$0$3,600,640
98$8,407,226$0$0$3,888,785
99$9,078,391$0$0$4,203,828
100$9,812,144$0$0$4,548,436