Can I retire at age 56 with 734,000?

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 $734,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$60,613$60,073$59,546$59,032$58,530$57,302
2 years$30,006$29,448$28,906$28,381$27,872$26,640
3 years$19,806$19,244$18,704$18,184$17,683$16,486
4 years$14,706$14,147$13,612$13,100$12,612$11,459
5 years$11,647$11,091$10,563$10,062$9,587$8,482
6 years$9,609$9,057$8,537$8,047$7,586$6,529
7 years$8,153$7,606$7,094$6,616$6,169$5,162
8 years$7,062$6,520$6,016$5,550$5,118$4,159
9 years$6,214$5,676$5,182$4,727$4,310$3,399
10 years$5,536$5,004$4,518$4,075$3,672$2,808
11 years$4,981$4,454$3,977$3,546$3,158$2,340
12 years$4,519$3,998$3,530$3,111$2,737$1,964
13 years$4,129$3,613$3,154$2,746$2,387$1,657
14 years$3,794$3,284$2,834$2,438$2,092$1,404
15 years$3,505$3,000$2,558$2,174$1,842$1,194
16 years$3,252$2,753$2,319$1,947$1,628$1,019
17 years$3,029$2,535$2,111$1,749$1,444$872
18 years$2,831$2,342$1,927$1,576$1,284$748
19 years$2,654$2,171$1,764$1,424$1,144$642
20 years$2,495$2,017$1,619$1,290$1,022$553
21 years$2,351$1,879$1,489$1,171$914$476
22 years$2,220$1,754$1,372$1,064$820$411
23 years$2,101$1,641$1,267$969$736$355
24 years$1,992$1,537$1,172$884$661$307
25 years$1,892$1,442$1,085$807$595$265
26 years$1,800$1,356$1,007$738$536$229
27 years$1,715$1,276$935$676$483$199
28 years$1,636$1,202$869$619$436$172
29 years$1,563$1,134$809$568$394$149
30 years$1,494$1,071$753$521$356$129
31 years$1,430$1,013$702$479$322$112
32 years$1,370$958$655$440$291$97
33 years$1,314$907$612$404$263$84
34 years$1,262$860$572$372$238$73
35 years$1,212$816$534$343$216$63
36 years$1,166$774$500$316$196$55
37 years$1,122$735$468$291$177$48
38 years$1,080$699$438$268$161$42
39 years$1,041$664$410$247$146$36
40 years$1,003$632$385$228$132$31
41 years$968$602$361$210$120$27
42 years$934$573$338$194$109$24
43 years$903$546$318$179$99$21
44 years$872$521$298$165$90$18
45 years$843$496$280$153$81$15
46 years$815$473$263$141$74$13
47 years$789$452$247$130$67$12
48 years$764$431$232$120$61$10
49 years$740$412$218$111$55$9
50 years$717$393$205$103$50$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $734,000, adding $2,521 every year, while hoping to spend $54,829 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: 43/28/29 Blend
55$734,000$734,000$734,000$734,000
56$811,468$772,566$761,189$839,406
57$835,901$752,085$728,352$839,226
58$860,987$728,761$692,576$833,664
59$886,737$702,400$653,707$826,601
60$913,158$672,792$611,580$817,930
61$940,258$639,715$566,025$807,538
62$968,041$602,938$516,864$795,307
63$996,512$562,213$463,909$781,110
64$1,025,673$517,279$406,968$764,813
65$1,055,526$467,860$345,836$746,275
66$1,086,069$413,664$280,300$725,346
67$1,117,298$354,384$210,140$701,868
68$1,149,206$289,693$135,124$675,672
69$1,181,785$219,247$55,010$646,581
70$1,215,020$142,683$0$614,406
71$1,248,895$59,617$0$588,381
72$1,283,388$0$0$577,640
73$1,318,473$0$0$574,357
74$1,354,119$0$0$589,660
75$1,390,288$0$0$605,161
76$1,426,934$0$0$620,836
77$1,464,005$0$0$636,660
78$1,501,441$0$0$652,601
79$1,539,170$0$0$668,625
80$1,577,112$0$0$684,692
81$1,615,174$0$0$700,755
82$1,653,250$0$0$716,762
83$1,691,220$0$0$732,655
84$1,728,946$0$0$748,367
85$1,766,276$0$0$763,822
86$1,803,034$0$0$778,936
87$1,839,023$0$0$793,613
88$1,874,025$0$0$807,747
89$1,907,790$0$0$821,219
90$1,940,041$0$0$833,893
91$1,970,469$0$0$845,621
92$1,998,725$0$0$856,235
93$2,024,422$0$0$865,549
94$2,047,128$0$0$873,355
95$2,066,361$0$0$879,423
96$2,081,584$0$0$883,495
97$2,092,200$0$0$885,284
98$2,097,545$0$0$884,474
99$2,096,881$0$0$880,711
100$2,089,389$0$0$873,605