Can I retire at age 56 with 719,000?

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 $719,000?

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%
1 years$59,374$58,845$58,329$57,826$57,334$55,677
2 years$29,393$28,846$28,315$27,801$27,302$25,646
3 years$19,401$18,851$18,322$17,812$17,321$15,718
4 years$14,406$13,858$13,334$12,833$12,354$10,815
5 years$11,409$10,864$10,347$9,857$9,391$7,922
6 years$9,412$8,872$8,362$7,883$7,431$6,032
7 years$7,987$7,450$6,949$6,481$6,043$4,715
8 years$6,918$6,386$5,893$5,436$5,014$3,755
9 years$6,087$5,560$5,076$4,631$4,222$3,032
10 years$5,422$4,901$4,425$3,992$3,597$2,474
11 years$4,879$4,363$3,896$3,474$3,094$2,036
12 years$4,427$3,916$3,458$3,047$2,681$1,686
13 years$4,044$3,539$3,089$2,690$2,338$1,403
14 years$3,717$3,217$2,776$2,388$2,049$1,173
15 years$3,433$2,939$2,506$2,130$1,805$984
16 years$3,185$2,696$2,272$1,907$1,595$828
17 years$2,967$2,483$2,067$1,713$1,414$698
18 years$2,773$2,295$1,887$1,544$1,257$590
19 years$2,600$2,127$1,728$1,395$1,121$499
20 years$2,444$1,976$1,586$1,264$1,001$423
21 years$2,303$1,841$1,459$1,147$896$359
22 years$2,175$1,718$1,344$1,043$803$305
23 years$2,058$1,607$1,241$950$721$259
24 years$1,952$1,506$1,148$866$648$220
25 years$1,854$1,413$1,063$791$583$188
26 years$1,763$1,328$986$723$525$160
27 years$1,680$1,250$916$662$473$136
28 years$1,602$1,178$851$607$427$116
29 years$1,531$1,111$792$556$386$99
30 years$1,464$1,049$738$510$349$84
31 years$1,401$992$688$469$315$72
32 years$1,342$939$642$431$285$61
33 years$1,288$889$599$396$258$52
34 years$1,236$842$560$365$234$45
35 years$1,188$799$523$336$212$38
36 years$1,142$758$490$309$192$33
37 years$1,099$720$458$285$174$28
38 years$1,058$684$429$262$157$24
39 years$1,020$651$402$242$143$20
40 years$983$619$377$223$130$17
41 years$948$589$353$206$118$15
42 years$915$561$332$190$107$13
43 years$884$535$311$175$97$11
44 years$854$510$292$162$88$9
45 years$826$486$274$150$80$8
46 years$799$464$258$138$72$7
47 years$773$443$242$128$66$6
48 years$748$423$227$118$60$5
49 years$725$404$214$109$54$4
50 years$702$385$201$101$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $719,000, adding $4,639 every year, while hoping to spend $32,453 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: 51/31/18 Blend
55$719,000$719,000$719,000$719,000
56$797,123$759,016$747,872$833,600
57$843,900$761,678$738,396$861,871
58$894,360$763,383$727,514$888,841
59$948,846$764,049$715,147$917,461
60$1,007,731$763,591$701,208$947,899
61$1,071,429$761,917$685,608$980,339
62$1,140,394$758,929$668,254$1,014,988
63$1,215,122$754,524$649,048$1,052,075
64$1,296,162$748,594$627,889$1,091,853
65$1,384,117$741,022$604,670$1,134,602
66$1,479,650$731,684$579,279$1,180,636
67$1,583,489$720,452$551,600$1,230,299
68$1,696,436$707,185$521,510$1,283,974
69$1,819,374$691,739$488,882$1,342,087
70$1,953,274$673,958$453,583$1,405,108
71$2,099,203$653,677$415,474$1,473,558
72$2,258,339$630,724$374,409$1,548,015
73$2,431,974$604,914$330,236$1,629,117
74$2,621,533$576,053$282,797$1,717,574
75$2,828,585$543,935$231,926$1,814,168
76$3,054,855$508,342$177,450$1,919,767
77$3,302,244$469,044$119,188$2,035,330
78$3,572,844$425,799$56,952$2,161,920
79$3,868,958$378,348$0$2,300,711
80$4,193,125$326,420$0$2,454,821
81$4,548,137$269,728$0$2,635,659
82$4,937,071$207,968$0$2,833,905
83$5,363,314$140,820$0$3,051,360
84$5,830,598$67,946$0$3,290,010
85$6,343,032$0$0$3,552,049
86$6,905,142$0$0$3,843,653
87$7,521,914$0$0$4,189,120
88$8,198,838$0$0$4,568,357
89$8,941,964$0$0$4,984,762
90$9,757,954$0$0$5,442,080
91$10,654,149$0$0$5,944,434
92$11,638,633$0$0$6,496,366
93$12,720,314$0$0$7,102,882
94$13,909,005$0$0$7,769,495
95$15,215,515$0$0$8,502,279
96$16,651,755$0$0$9,307,927
97$18,230,846$0$0$10,193,810
98$19,967,243$0$0$11,168,053
99$21,876,873$0$0$12,239,604
100$23,977,284$0$0$13,418,325