Can I retire at age 56 with 733,000?

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 $733,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$60,530$59,991$59,465$58,952$58,450$57,364
2 years$29,966$29,407$28,867$28,342$27,834$26,743
3 years$19,779$19,218$18,679$18,159$17,659$16,598
4 years$14,686$14,127$13,593$13,083$12,594$11,572
5 years$11,631$11,076$10,549$10,049$9,574$8,593
6 years$9,596$9,044$8,525$8,036$7,576$6,636
7 years$8,142$7,595$7,084$6,607$6,161$5,264
8 years$7,052$6,511$6,008$5,542$5,111$4,256
9 years$6,205$5,669$5,175$4,721$4,304$3,491
10 years$5,528$4,997$4,512$4,069$3,667$2,895
11 years$4,974$4,448$3,972$3,542$3,154$2,422
12 years$4,513$3,993$3,525$3,106$2,733$2,040
13 years$4,123$3,608$3,149$2,743$2,384$1,728
14 years$3,789$3,280$2,830$2,435$2,089$1,470
15 years$3,500$2,996$2,555$2,171$1,840$1,256
16 years$3,247$2,749$2,316$1,944$1,626$1,076
17 years$3,025$2,532$2,108$1,747$1,442$925
18 years$2,827$2,339$1,924$1,574$1,282$797
19 years$2,650$2,168$1,761$1,422$1,143$687
20 years$2,491$2,015$1,617$1,288$1,021$594
21 years$2,348$1,877$1,487$1,169$913$514
22 years$2,217$1,752$1,370$1,063$819$446
23 years$2,098$1,638$1,265$968$735$387
24 years$1,990$1,535$1,170$883$660$336
25 years$1,890$1,441$1,084$806$594$292
26 years$1,798$1,354$1,005$737$535$254
27 years$1,713$1,274$933$675$483$221
28 years$1,634$1,201$868$618$436$192
29 years$1,560$1,133$808$567$393$167
30 years$1,492$1,070$752$520$355$146
31 years$1,428$1,011$701$478$321$127
32 years$1,369$957$654$439$291$111
33 years$1,313$906$611$404$263$96
34 years$1,260$859$571$372$238$84
35 years$1,211$815$534$342$216$73
36 years$1,164$773$499$315$195$64
37 years$1,120$734$467$290$177$56
38 years$1,079$698$438$268$161$49
39 years$1,039$664$410$247$146$43
40 years$1,002$631$384$228$132$37
41 years$967$601$360$210$120$32
42 years$933$572$338$194$109$28
43 years$901$545$317$179$99$25
44 years$871$520$298$165$90$22
45 years$842$496$280$153$81$19
46 years$814$473$263$141$74$16
47 years$788$451$247$130$67$14
48 years$763$431$232$120$61$13
49 years$739$411$218$111$55$11
50 years$716$393$205$103$50$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $733,000, adding $6,659 every year, while hoping to spend $24,214 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: 68/8/24 Blend
55$733,000$733,000$733,000$733,000
56$814,635$775,786$764,424$864,608
57$871,964$788,036$764,269$911,211
58$934,329$800,074$763,297$958,780
59$1,002,219$811,866$761,455$1,010,255
60$1,076,169$823,372$758,688$1,066,020
61$1,156,772$834,551$754,938$1,126,501
62$1,244,678$845,358$750,143$1,192,166
63$1,340,602$855,748$744,240$1,263,533
64$1,445,333$865,670$737,162$1,341,171
65$1,559,739$875,069$728,838$1,425,708
66$1,684,774$883,889$719,196$1,517,837
67$1,821,489$892,067$708,157$1,618,321
68$1,971,043$899,541$695,642$1,728,004
69$2,134,709$906,238$681,567$1,847,813
70$2,313,892$912,087$665,842$1,978,772
71$2,510,138$917,007$648,376$2,122,010
72$2,725,147$920,916$629,072$2,278,771
73$2,960,795$923,724$607,829$2,450,428
74$3,219,147$925,337$584,542$2,638,494
75$3,502,475$925,654$559,099$2,844,636
76$3,813,285$924,568$531,386$3,070,694
77$4,154,334$921,966$501,281$3,318,696
78$4,528,661$917,727$468,659$3,590,877
79$4,939,612$911,724$433,388$3,889,702
80$5,390,876$903,821$395,329$4,217,888
81$5,886,512$893,875$354,339$4,578,431
82$6,430,994$881,734$310,268$4,974,633
83$7,029,252$867,235$262,958$5,410,135
84$7,686,714$850,208$212,246$5,888,951
85$8,409,362$830,471$157,959$6,415,506
86$9,203,786$807,834$99,921$6,994,677
87$10,077,247$782,092$37,943$7,631,843
88$11,037,743$753,032$0$8,332,930
89$12,094,087$720,425$0$9,111,695
90$13,255,989$684,030$0$9,978,959
91$14,534,147$643,594$0$10,932,989
92$15,940,347$598,847$0$11,982,595
93$17,487,576$549,505$0$13,137,486
94$19,190,144$495,266$0$14,408,357
95$21,063,817$435,813$0$15,806,998
96$23,125,968$370,809$0$17,346,396
97$25,395,738$299,900$0$19,040,867
98$27,894,219$222,710$0$20,906,183
99$30,644,650$138,844$0$22,959,725
100$33,672,640$47,883$0$25,220,648