Can I retire at age 56 with 791,000?

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 $791,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$65,320$64,738$64,171$63,616$63,075$61,802
2 years$32,337$31,734$31,151$30,585$30,036$28,758
3 years$21,344$20,739$20,157$19,596$19,056$17,814
4 years$15,848$15,245$14,669$14,118$13,591$12,395
5 years$12,552$11,952$11,384$10,844$10,332$9,184
6 years$10,355$9,760$9,200$8,672$8,175$7,078
7 years$8,786$8,196$7,645$7,130$6,648$5,602
8 years$7,610$7,026$6,484$5,981$5,516$4,519
9 years$6,696$6,117$5,584$5,094$4,645$3,698
10 years$5,965$5,392$4,868$4,391$3,958$3,059
11 years$5,368$4,800$4,286$3,822$3,404$2,552
12 years$4,870$4,308$3,804$3,352$2,950$2,144
13 years$4,449$3,894$3,398$2,960$2,572$1,811
14 years$4,089$3,539$3,054$2,627$2,255$1,537
15 years$3,777$3,233$2,757$2,343$1,985$1,310
16 years$3,504$2,966$2,500$2,098$1,755$1,119
17 years$3,264$2,732$2,275$1,885$1,556$959
18 years$3,051$2,524$2,076$1,699$1,383$823
19 years$2,860$2,340$1,901$1,535$1,233$708
20 years$2,688$2,174$1,744$1,390$1,101$610
21 years$2,533$2,025$1,605$1,262$986$527
22 years$2,393$1,890$1,479$1,147$883$455
23 years$2,265$1,768$1,365$1,045$793$394
24 years$2,147$1,656$1,263$953$713$341
25 years$2,039$1,554$1,170$870$641$295
26 years$1,940$1,461$1,085$796$578$256
27 years$1,848$1,375$1,007$728$521$222
28 years$1,763$1,296$936$667$470$192
29 years$1,684$1,222$871$612$424$167
30 years$1,610$1,154$812$562$383$145
31 years$1,541$1,091$757$516$347$126
32 years$1,477$1,032$706$474$314$109
33 years$1,417$978$659$436$284$95
34 years$1,360$927$616$401$257$83
35 years$1,307$879$576$369$233$72
36 years$1,256$834$539$340$211$62
37 years$1,209$792$504$313$191$54
38 years$1,164$753$472$289$173$47
39 years$1,122$716$442$266$157$41
40 years$1,081$681$415$246$143$36
41 years$1,043$649$389$227$129$31
42 years$1,007$618$365$209$117$27
43 years$973$588$342$193$106$24
44 years$940$561$321$178$97$20
45 years$909$535$302$165$88$18
46 years$879$510$283$152$80$15
47 years$850$487$266$140$72$13
48 years$823$465$250$130$66$12
49 years$797$444$235$120$60$10
50 years$772$424$221$111$54$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $791,000, adding $4,060 every year, while hoping to spend $55,024 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: 58/24/18 Blend
55$791,000$791,000$791,000$791,000
56$875,870$833,947$821,686$922,312
57$906,664$816,265$790,668$936,599
58$938,754$795,873$756,766$945,811
59$972,215$772,579$719,826$954,608
60$1,007,127$746,182$679,686$962,961
61$1,043,577$716,467$636,178$970,839
62$1,081,656$683,208$589,125$978,211
63$1,121,466$646,167$538,341$985,049
64$1,163,115$605,088$483,636$991,322
65$1,206,721$559,706$424,806$997,000
66$1,252,412$509,737$361,641$1,002,055
67$1,300,325$454,881$293,923$1,006,458
68$1,350,610$394,822$221,422$1,010,184
69$1,403,431$329,226$143,898$1,013,208
70$1,458,963$257,741$61,101$1,015,508
71$1,517,400$179,993$0$1,017,065
72$1,578,950$95,588$0$1,023,098
73$1,643,842$4,111$0$1,041,224
74$1,712,324$0$0$1,059,743
75$1,784,667$0$0$1,103,769
76$1,861,166$0$0$1,151,501
77$1,942,143$0$0$1,202,058
78$2,027,951$0$0$1,255,666
79$2,118,973$0$0$1,312,568
80$2,215,632$0$0$1,373,031
81$2,318,386$0$0$1,437,350
82$2,427,740$0$0$1,505,843
83$2,544,243$0$0$1,578,862
84$2,668,498$0$0$1,656,791
85$2,801,167$0$0$1,740,051
86$2,942,974$0$0$1,829,102
87$3,094,712$0$0$1,924,451
88$3,257,251$0$0$2,026,652
89$3,431,545$0$0$2,136,313
90$3,618,642$0$0$2,254,103
91$3,819,692$0$0$2,380,754
92$4,035,954$0$0$2,517,070
93$4,268,815$0$0$2,663,935
94$4,519,795$0$0$2,822,320
95$4,790,566$0$0$2,993,289
96$5,082,962$0$0$3,178,014
97$5,399,001$0$0$3,377,783
98$5,740,900$0$0$3,594,011
99$6,111,095$0$0$3,828,251
100$6,512,266$0$0$4,082,216