Can I retire at age 56 with 738,000?

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 $738,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$60,943$60,400$59,871$59,354$58,849$56,943
2 years$30,170$29,608$29,064$28,536$28,023$26,120
3 years$19,914$19,349$18,806$18,283$17,779$15,940
4 years$14,786$14,224$13,686$13,172$12,680$10,918
5 years$11,711$11,152$10,621$10,117$9,639$7,959
6 years$9,661$9,106$8,583$8,091$7,627$6,031
7 years$8,198$7,647$7,133$6,652$6,203$4,690
8 years$7,100$6,555$6,049$5,580$5,146$3,715
9 years$6,248$5,707$5,210$4,753$4,334$2,983
10 years$5,566$5,031$4,542$4,097$3,693$2,421
11 years$5,008$4,479$3,999$3,566$3,176$1,980
12 years$4,544$4,020$3,549$3,128$2,752$1,630
13 years$4,151$3,633$3,171$2,761$2,400$1,349
14 years$3,815$3,302$2,849$2,451$2,104$1,121
15 years$3,524$3,016$2,572$2,186$1,852$934
16 years$3,270$2,768$2,332$1,957$1,637$781
17 years$3,045$2,549$2,122$1,759$1,451$654
18 years$2,846$2,355$1,937$1,585$1,291$549
19 years$2,668$2,183$1,773$1,432$1,150$461
20 years$2,508$2,028$1,628$1,297$1,027$388
21 years$2,364$1,889$1,497$1,177$919$327
22 years$2,232$1,764$1,380$1,070$824$276
23 years$2,113$1,649$1,274$975$740$233
24 years$2,003$1,545$1,178$889$665$197
25 years$1,903$1,450$1,091$812$598$166
26 years$1,810$1,363$1,012$742$539$141
27 years$1,724$1,283$940$679$486$119
28 years$1,645$1,209$874$623$438$101
29 years$1,571$1,140$813$571$396$85
30 years$1,502$1,077$757$524$358$72
31 years$1,438$1,018$706$481$323$61
32 years$1,378$963$659$442$293$52
33 years$1,322$912$615$407$265$44
34 years$1,269$865$575$374$240$37
35 years$1,219$820$537$344$217$31
36 years$1,172$778$503$317$197$27
37 years$1,128$739$470$292$178$22
38 years$1,086$703$441$269$162$19
39 years$1,046$668$413$248$147$16
40 years$1,009$636$387$229$133$14
41 years$973$605$363$211$121$12
42 years$940$576$340$195$109$10
43 years$907$549$319$180$99$8
44 years$877$523$300$166$90$7
45 years$848$499$281$154$82$6
46 years$820$476$264$142$74$5
47 years$793$454$248$131$67$4
48 years$768$434$233$121$61$4
49 years$744$414$219$112$56$3
50 years$721$396$206$103$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $738,000, adding $2,996 every year, while hoping to spend $48,664 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: 73/18/9 Blend
55$738,000$738,000$738,000$738,000
56$816,366$777,252$765,813$874,460
57$847,858$763,560$739,690$899,513
58$880,930$747,565$711,060$920,576
59$915,693$729,104$679,789$942,293
60$952,267$708,003$645,736$964,713
61$990,781$684,078$608,751$987,893
62$1,031,378$657,135$568,681$1,011,896
63$1,074,210$626,967$525,363$1,036,792
64$1,119,447$593,355$478,630$1,062,659
65$1,167,272$556,071$428,306$1,089,586
66$1,217,884$514,869$374,204$1,117,670
67$1,271,503$469,492$316,135$1,147,021
68$1,328,367$419,667$253,896$1,177,760
69$1,388,736$365,107$187,277$1,210,025
70$1,452,897$305,508$116,061$1,243,966
71$1,521,162$240,546$40,018$1,279,754
72$1,593,871$169,884$0$1,317,576
73$1,671,400$93,163$0$1,361,594
74$1,754,158$10,003$0$1,412,449
75$1,842,594$0$0$1,466,580
76$1,937,200$0$0$1,540,148
77$2,038,515$0$0$1,621,077
78$2,147,132$0$0$1,707,862
79$2,263,699$0$0$1,801,025
80$2,388,930$0$0$1,901,137
81$2,523,606$0$0$2,008,827
82$2,668,585$0$0$2,124,785
83$2,824,810$0$0$2,249,770
84$2,993,317$0$0$2,384,613
85$3,175,245$0$0$2,530,229
86$3,371,841$0$0$2,687,623
87$3,584,482$0$0$2,857,900
88$3,814,676$0$0$3,042,273
89$4,064,084$0$0$3,242,078
90$4,334,531$0$0$3,458,782
91$4,628,026$0$0$3,693,999
92$4,946,775$0$0$3,949,504
93$5,293,207$0$0$4,227,251
94$5,669,994$0$0$4,529,387
95$6,080,074$0$0$4,858,275
96$6,526,683$0$0$5,216,518
97$7,013,379$0$0$5,606,976
98$7,544,079$0$0$6,032,800
99$8,123,093$0$0$6,497,457
100$8,755,166$0$0$7,004,761