Can I retire at age 56 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$61,109$60,564$60,033$59,515$59,009$58,103
2 years$30,252$29,688$29,142$28,613$28,099$27,189
3 years$19,967$19,402$18,857$18,333$17,827$16,941
4 years$14,826$14,262$13,723$13,208$12,715$11,859
5 years$11,743$11,182$10,650$10,145$9,665$8,842
6 years$9,687$9,131$8,607$8,113$7,648$6,859
7 years$8,220$7,668$7,152$6,670$6,220$5,465
8 years$7,120$6,573$6,066$5,595$5,160$4,439
9 years$6,265$5,723$5,224$4,766$4,345$3,659
10 years$5,581$5,044$4,555$4,108$3,703$3,049
11 years$5,022$4,491$4,010$3,575$3,184$2,563
12 years$4,556$4,031$3,559$3,136$2,759$2,170
13 years$4,163$3,643$3,179$2,769$2,406$1,848
14 years$3,826$3,311$2,857$2,458$2,109$1,581
15 years$3,534$3,025$2,579$2,192$1,857$1,358
16 years$3,278$2,775$2,338$1,963$1,641$1,170
17 years$3,054$2,556$2,128$1,763$1,455$1,011
18 years$2,854$2,362$1,942$1,589$1,294$876
19 years$2,675$2,189$1,778$1,436$1,153$760
20 years$2,515$2,034$1,632$1,301$1,030$661
21 years$2,370$1,894$1,501$1,180$922$576
22 years$2,238$1,768$1,383$1,073$826$502
23 years$2,119$1,654$1,277$977$742$438
24 years$2,009$1,550$1,181$891$667$383
25 years$1,908$1,454$1,094$814$600$335
26 years$1,815$1,367$1,015$744$540$293
27 years$1,729$1,286$942$681$487$257
28 years$1,649$1,212$876$624$440$225
29 years$1,575$1,143$815$572$397$197
30 years$1,506$1,080$759$525$359$173
31 years$1,442$1,021$708$483$324$152
32 years$1,382$966$661$443$293$133
33 years$1,325$915$617$408$266$117
34 years$1,272$867$576$375$240$102
35 years$1,222$822$539$345$218$90
36 years$1,175$780$504$318$197$79
37 years$1,131$741$472$293$179$69
38 years$1,089$704$442$270$162$61
39 years$1,049$670$414$249$147$54
40 years$1,012$637$388$230$133$47
41 years$976$607$364$212$121$41
42 years$942$578$341$196$110$36
43 years$910$551$320$181$100$32
44 years$879$525$301$167$90$28
45 years$850$500$282$154$82$25
46 years$822$477$265$142$75$22
47 years$796$456$249$131$68$19
48 years$770$435$234$121$61$17
49 years$746$415$220$112$56$15
50 years$722$397$207$104$51$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $740,000, adding $4,151 every year, while hoping to spend $25,470 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: 44/30/26 Blend
55$740,000$740,000$740,000$740,000
56$819,762$780,542$769,072$849,487
57$876,278$791,688$767,736$882,183
58$937,704$802,528$765,501$914,836
59$1,004,516$813,017$762,312$949,736
60$1,077,234$823,113$758,107$987,105
61$1,156,433$832,766$752,824$1,027,189
62$1,242,744$841,926$746,398$1,070,261
63$1,336,861$850,538$738,760$1,116,623
64$1,439,550$858,544$729,838$1,166,607
65$1,551,653$865,881$719,556$1,220,582
66$1,674,096$872,484$707,836$1,278,956
67$1,807,900$878,282$694,594$1,342,178
68$1,954,188$883,200$679,745$1,410,747
69$2,114,197$887,158$663,198$1,485,213
70$2,289,288$890,071$644,858$1,566,185
71$2,480,960$891,850$624,626$1,654,334
72$2,690,866$892,398$602,399$1,750,402
73$2,920,822$891,614$578,067$1,855,211
74$3,172,832$889,389$551,519$1,969,668
75$3,449,101$885,609$522,634$2,094,773
76$3,752,057$880,152$491,291$2,231,632
77$4,084,376$872,889$457,358$2,381,468
78$4,449,004$863,682$420,701$2,545,630
79$4,849,187$852,387$381,179$2,725,608
80$5,288,500$838,849$338,644$2,923,048
81$5,770,880$822,906$292,942$3,139,765
82$6,300,667$804,385$243,912$3,377,768
83$6,882,638$783,103$191,386$3,639,268
84$7,522,058$758,866$135,189$3,926,713
85$8,224,727$731,470$75,137$4,242,799
86$8,997,033$700,696$11,038$4,590,506
87$9,846,017$666,316$0$4,973,120
88$10,779,432$628,087$0$5,410,185
89$11,805,823$585,753$0$5,894,091
90$12,934,603$539,041$0$6,426,252
91$14,176,143$487,664$0$7,011,606
92$15,541,870$431,320$0$7,655,596
93$17,044,373$369,687$0$8,364,228
94$18,697,524$302,427$0$9,144,118
95$20,516,608$229,182$0$10,002,566
96$22,518,464$149,574$0$10,947,618
97$24,721,648$63,203$0$11,988,143
98$27,146,605$0$0$13,133,924
99$29,815,863$0$0$14,405,761
100$32,754,245$0$0$15,828,906