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%11.7%
1 years$60,943$60,400$59,871$59,354$58,849$58,429
2 years$30,170$29,608$29,064$28,536$28,023$27,600
3 years$19,914$19,349$18,806$18,283$17,779$17,365
4 years$14,786$14,224$13,686$13,172$12,680$12,279
5 years$11,711$11,152$10,621$10,117$9,639$9,252
6 years$9,661$9,106$8,583$8,091$7,627$7,255
7 years$8,198$7,647$7,133$6,652$6,203$5,845
8 years$7,100$6,555$6,049$5,580$5,146$4,803
9 years$6,248$5,707$5,210$4,753$4,334$4,005
10 years$5,566$5,031$4,542$4,097$3,693$3,378
11 years$5,008$4,479$3,999$3,566$3,176$2,875
12 years$4,544$4,020$3,549$3,128$2,752$2,466
13 years$4,151$3,633$3,171$2,761$2,400$2,127
14 years$3,815$3,302$2,849$2,451$2,104$1,844
15 years$3,524$3,016$2,572$2,186$1,852$1,606
16 years$3,270$2,768$2,332$1,957$1,637$1,403
17 years$3,045$2,549$2,122$1,759$1,451$1,230
18 years$2,846$2,355$1,937$1,585$1,291$1,080
19 years$2,668$2,183$1,773$1,432$1,150$951
20 years$2,508$2,028$1,628$1,297$1,027$840
21 years$2,364$1,889$1,497$1,177$919$742
22 years$2,232$1,764$1,380$1,070$824$657
23 years$2,113$1,649$1,274$975$740$582
24 years$2,003$1,545$1,178$889$665$517
25 years$1,903$1,450$1,091$812$598$459
26 years$1,810$1,363$1,012$742$539$408
27 years$1,724$1,283$940$679$486$363
28 years$1,645$1,209$874$623$438$323
29 years$1,571$1,140$813$571$396$288
30 years$1,502$1,077$757$524$358$257
31 years$1,438$1,018$706$481$323$229
32 years$1,378$963$659$442$293$204
33 years$1,322$912$615$407$265$182
34 years$1,269$865$575$374$240$163
35 years$1,219$820$537$344$217$145
36 years$1,172$778$503$317$197$130
37 years$1,128$739$470$292$178$116
38 years$1,086$703$441$269$162$104
39 years$1,046$668$413$248$147$93
40 years$1,009$636$387$229$133$83
41 years$973$605$363$211$121$74
42 years$940$576$340$195$109$66
43 years$907$549$319$180$99$59
44 years$877$523$300$166$90$53
45 years$848$499$281$154$82$47
46 years$820$476$264$142$74$42
47 years$793$454$248$131$67$38
48 years$768$434$233$121$61$34
49 years$744$414$219$112$56$30
50 years$721$396$206$103$51$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $738,000, adding $5,953 every year, while hoping to spend $38,367 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: 58/16/26 Blend
55$738,000$738,000$738,000$738,000
56$819,417$780,303$768,864$860,841
57$862,175$777,715$753,798$887,243
58$908,009$773,715$736,942$911,435
59$957,191$768,193$718,195$937,006
60$1,010,022$761,031$697,452$964,101
61$1,066,830$752,108$674,603$992,880
62$1,127,977$741,292$649,533$1,023,521
63$1,193,859$728,444$622,121$1,056,222
64$1,264,913$713,417$592,241$1,091,203
65$1,341,616$696,057$559,764$1,128,708
66$1,424,495$676,198$524,550$1,169,011
67$1,514,128$653,665$486,456$1,212,411
68$1,611,149$628,276$445,333$1,259,245
69$1,716,258$599,833$401,024$1,309,883
70$1,830,223$568,131$353,365$1,364,739
71$1,953,888$532,952$302,184$1,424,269
72$2,088,181$494,063$247,304$1,488,980
73$2,234,125$451,221$188,538$1,559,435
74$2,392,843$404,168$125,691$1,636,256
75$2,565,571$352,631$58,560$1,720,133
76$2,753,670$296,321$0$1,811,831
77$2,958,638$234,934$0$1,915,824
78$3,182,121$168,148$0$2,046,995
79$3,425,933$95,623$0$2,190,181
80$3,692,070$17,000$0$2,346,598
81$3,982,729$0$0$2,517,586
82$4,300,327$0$0$2,716,613
83$4,647,529$0$0$2,937,523
84$5,027,265$0$0$3,179,196
85$5,442,764$0$0$3,443,694
86$5,897,579$0$0$3,733,287
87$6,395,624$0$0$4,050,477
88$6,941,210$0$0$4,398,017
89$7,539,081$0$0$4,778,939
90$8,194,467$0$0$5,196,584
91$8,913,123$0$0$5,654,629
92$9,701,392$0$0$6,157,127
93$10,566,256$0$0$6,708,540
94$11,515,409$0$0$7,313,783
95$12,557,325$0$0$7,978,272
96$13,701,337$0$0$8,707,971
97$14,957,729$0$0$9,509,451
98$16,337,826$0$0$10,389,950
99$17,854,107$0$0$11,357,441
100$19,520,318$0$0$12,420,710