Can I retire at age 56 with 739,000?

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 $739,000?

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$61,026$60,482$59,952$59,434$58,929$57,249
2 years$30,211$29,648$29,103$28,574$28,061$26,382
3 years$19,941$19,375$18,832$18,308$17,803$16,177
4 years$14,806$14,243$13,705$13,190$12,697$11,137
5 years$11,727$11,167$10,635$10,131$9,652$8,162
6 years$9,674$9,118$8,595$8,102$7,638$6,218
7 years$8,209$7,658$7,142$6,661$6,211$4,863
8 years$7,110$6,564$6,057$5,588$5,153$3,875
9 years$6,256$5,715$5,217$4,759$4,340$3,131
10 years$5,573$5,038$4,548$4,103$3,698$2,557
11 years$5,015$4,485$4,004$3,571$3,180$2,105
12 years$4,550$4,025$3,554$3,132$2,756$1,744
13 years$4,157$3,638$3,175$2,765$2,403$1,453
14 years$3,820$3,307$2,853$2,454$2,106$1,215
15 years$3,529$3,021$2,576$2,189$1,855$1,020
16 years$3,274$2,771$2,335$1,960$1,639$859
17 years$3,049$2,552$2,125$1,761$1,453$725
18 years$2,850$2,358$1,940$1,587$1,292$613
19 years$2,672$2,186$1,776$1,434$1,152$519
20 years$2,512$2,031$1,630$1,299$1,029$440
21 years$2,367$1,892$1,499$1,179$921$374
22 years$2,235$1,766$1,382$1,072$825$318
23 years$2,116$1,652$1,276$976$741$270
24 years$2,006$1,548$1,180$890$666$230
25 years$1,905$1,452$1,093$813$599$196
26 years$1,812$1,365$1,013$743$540$167
27 years$1,727$1,285$941$680$487$142
28 years$1,647$1,210$875$623$439$121
29 years$1,573$1,142$814$572$396$104
30 years$1,504$1,078$758$525$358$88
31 years$1,440$1,019$707$482$324$75
32 years$1,380$965$660$443$293$64
33 years$1,323$913$616$407$265$55
34 years$1,270$866$575$375$240$47
35 years$1,221$821$538$345$217$40
36 years$1,174$779$503$318$197$34
37 years$1,129$740$471$293$179$29
38 years$1,088$704$441$270$162$25
39 years$1,048$669$413$249$147$21
40 years$1,010$636$387$229$133$18
41 years$975$606$363$212$121$16
42 years$941$577$341$195$110$13
43 years$909$550$320$180$99$11
44 years$878$524$300$167$90$10
45 years$849$500$282$154$82$8
46 years$821$477$265$142$74$7
47 years$794$455$249$131$68$6
48 years$769$434$234$121$61$5
49 years$745$415$220$112$56$4
50 years$722$396$206$104$51$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $739,000, adding $4,888 every year, while hoping to spend $46,228 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: 58/15/27 Blend
55$739,000$739,000$739,000$739,000
56$819,420$780,253$768,798$860,662
57$853,815$769,299$745,367$878,481
58$890,168$756,259$719,601$892,592
59$928,631$740,982$691,374$907,016
60$969,370$723,308$660,553$921,797
61$1,012,563$703,067$626,999$936,985
62$1,058,407$680,081$590,566$952,636
63$1,107,119$654,159$551,104$968,817
64$1,158,933$625,100$508,454$985,602
65$1,214,106$592,693$462,450$1,003,076
66$1,272,922$556,712$412,919$1,021,335
67$1,335,689$516,920$359,681$1,040,491
68$1,402,746$473,065$302,546$1,060,667
69$1,474,462$424,882$241,318$1,082,003
70$1,551,246$372,090$175,791$1,104,658
71$1,633,544$314,392$105,750$1,128,811
72$1,721,844$251,476$30,971$1,154,663
73$1,816,683$183,010$0$1,182,440
74$1,918,651$108,643$0$1,226,462
75$2,028,394$28,008$0$1,283,384
76$2,146,624$0$0$1,344,665
77$2,274,121$0$0$1,420,525
78$2,411,740$0$0$1,507,446
79$2,560,426$0$0$1,601,408
80$2,721,212$0$0$1,703,070
81$2,895,236$0$0$1,813,158
82$3,083,750$0$0$1,932,471
83$3,288,127$0$0$2,061,887
84$3,509,881$0$0$2,202,371
85$3,750,674$0$0$2,354,985
86$4,012,336$0$0$2,520,897
87$4,296,879$0$0$2,701,391
88$4,606,516$0$0$2,897,881
89$4,943,684$0$0$3,111,923
90$5,311,064$0$0$3,345,229
91$5,711,605$0$0$3,599,683
92$6,148,553$0$0$3,877,358
93$6,625,482$0$0$4,180,537
94$7,146,327$0$0$4,511,732
95$7,715,416$0$0$4,873,710
96$8,337,518$0$0$5,269,516
97$9,017,881$0$0$5,702,503
98$9,762,283$0$0$6,176,362
99$10,577,089$0$0$6,695,159
100$11,469,305$0$0$7,263,372