Can I retire at age 56 with 790,000?

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 $790,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$65,237$64,656$64,089$63,536$62,996$60,520
2 years$32,296$31,694$31,111$30,546$29,998$27,534
3 years$21,317$20,713$20,131$19,571$19,032$16,658
4 years$15,828$15,226$14,650$14,100$13,574$11,307
5 years$12,536$11,937$11,369$10,830$10,319$8,165
6 years$10,342$9,748$9,188$8,661$8,165$6,125
7 years$8,775$8,186$7,635$7,121$6,640$4,715
8 years$7,601$7,017$6,475$5,973$5,509$3,695
9 years$6,688$6,110$5,577$5,088$4,639$2,935
10 years$5,958$5,385$4,862$4,386$3,953$2,355
11 years$5,361$4,794$4,281$3,817$3,399$1,904
12 years$4,864$4,303$3,799$3,348$2,946$1,548
13 years$4,444$3,889$3,394$2,956$2,569$1,265
14 years$4,084$3,535$3,050$2,624$2,252$1,038
15 years$3,772$3,229$2,753$2,340$1,983$854
16 years$3,500$2,963$2,496$2,095$1,752$705
17 years$3,260$2,728$2,272$1,883$1,554$583
18 years$3,047$2,521$2,074$1,697$1,382$482
19 years$2,856$2,337$1,898$1,533$1,231$400
20 years$2,685$2,171$1,742$1,388$1,100$332
21 years$2,530$2,022$1,603$1,260$984$276
22 years$2,390$1,888$1,477$1,146$882$229
23 years$2,262$1,766$1,364$1,043$792$191
24 years$2,144$1,654$1,261$952$712$159
25 years$2,037$1,553$1,168$869$641$132
26 years$1,938$1,459$1,083$795$577$110
27 years$1,846$1,373$1,006$727$520$92
28 years$1,761$1,294$935$666$469$77
29 years$1,682$1,221$870$611$424$64
30 years$1,608$1,153$811$561$383$53
31 years$1,539$1,090$756$515$346$44
32 years$1,475$1,031$705$473$313$37
33 years$1,415$977$658$435$283$31
34 years$1,358$926$615$401$257$26
35 years$1,305$878$575$369$232$22
36 years$1,255$833$538$340$211$18
37 years$1,207$791$504$313$191$15
38 years$1,163$752$472$288$173$13
39 years$1,120$715$442$266$157$10
40 years$1,080$680$414$245$142$9
41 years$1,042$648$388$226$129$7
42 years$1,006$617$364$209$117$6
43 years$971$588$342$193$106$5
44 years$939$560$321$178$97$4
45 years$907$534$301$164$88$4
46 years$878$510$283$152$80$3
47 years$849$486$266$140$72$2
48 years$822$464$250$130$66$2
49 years$796$443$235$120$60$2
50 years$771$424$221$111$54$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $790,000, adding $4,101 every year, while hoping to spend $26,188 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: 62/16/22 Blend
55$790,000$790,000$790,000$790,000
56$874,810$832,940$820,695$923,776
57$936,177$845,890$820,325$970,311
58$1,002,926$858,598$819,064$1,017,831
59$1,075,577$871,022$816,856$1,069,124
60$1,154,705$883,121$813,640$1,124,560
61$1,240,941$894,850$809,352$1,184,549
62$1,334,979$906,160$803,928$1,249,543
63$1,437,584$916,999$797,297$1,320,039
64$1,549,598$927,312$789,387$1,396,586
65$1,671,947$937,040$780,121$1,479,791
66$1,805,650$946,120$769,419$1,570,322
67$1,951,831$954,484$757,199$1,668,915
68$2,111,725$962,061$743,373$1,776,383
69$2,286,694$968,775$727,849$1,893,623
70$2,478,236$974,545$710,532$2,021,623
71$2,688,003$979,284$691,320$2,161,474
72$2,917,810$982,900$670,111$2,314,378
73$3,169,660$985,295$646,793$2,481,662
74$3,445,757$986,366$621,252$2,664,788
75$3,748,529$986,003$593,369$2,865,370
76$4,080,650$984,088$563,017$3,085,186
77$4,445,064$980,497$530,067$3,326,198
78$4,845,017$975,098$494,381$3,590,570
79$5,284,082$967,751$455,816$3,880,687
80$5,766,195$958,307$414,222$4,199,180
81$6,295,693$946,609$369,444$4,548,950
82$6,877,351$932,491$321,318$4,933,195
83$7,516,433$915,775$269,674$5,355,443
84$8,218,735$896,274$214,334$5,819,582
85$8,990,644$873,790$155,113$6,329,902
86$9,839,196$848,112$91,816$6,891,129
87$10,772,144$819,019$24,240$7,508,478
88$11,798,026$786,274$0$8,187,695
89$12,926,252$749,629$0$8,946,356
90$14,167,190$708,821$0$9,787,012
91$15,532,261$663,571$0$10,711,725
92$17,034,050$613,584$0$11,729,042
93$18,686,422$558,549$0$12,848,385
94$20,504,656$498,137$0$14,080,136
95$22,505,584$431,999$0$15,435,738
96$24,707,755$359,768$0$16,927,801
97$27,131,605$281,056$0$18,570,223
98$29,799,654$195,452$0$20,378,321
99$32,736,713$102,524$0$22,368,974
100$35,970,123$1,812$0$24,560,785