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%13.8%
1 years$65,320$64,738$64,171$63,616$63,075$62,082
2 years$32,337$31,734$31,151$30,585$30,036$29,037
3 years$21,344$20,739$20,157$19,596$19,056$18,084
4 years$15,848$15,245$14,669$14,118$13,591$12,652
5 years$12,552$11,952$11,384$10,844$10,332$9,429
6 years$10,355$9,760$9,200$8,672$8,175$7,310
7 years$8,786$8,196$7,645$7,130$6,648$5,821
8 years$7,610$7,026$6,484$5,981$5,516$4,726
9 years$6,696$6,117$5,584$5,094$4,645$3,893
10 years$5,965$5,392$4,868$4,391$3,958$3,242
11 years$5,368$4,800$4,286$3,822$3,404$2,724
12 years$4,870$4,308$3,804$3,352$2,950$2,305
13 years$4,449$3,894$3,398$2,960$2,572$1,961
14 years$4,089$3,539$3,054$2,627$2,255$1,677
15 years$3,777$3,233$2,757$2,343$1,985$1,439
16 years$3,504$2,966$2,500$2,098$1,755$1,240
17 years$3,264$2,732$2,275$1,885$1,556$1,070
18 years$3,051$2,524$2,076$1,699$1,383$927
19 years$2,860$2,340$1,901$1,535$1,233$804
20 years$2,688$2,174$1,744$1,390$1,101$698
21 years$2,533$2,025$1,605$1,262$986$608
22 years$2,393$1,890$1,479$1,147$883$529
23 years$2,265$1,768$1,365$1,045$793$462
24 years$2,147$1,656$1,263$953$713$403
25 years$2,039$1,554$1,170$870$641$352
26 years$1,940$1,461$1,085$796$578$308
27 years$1,848$1,375$1,007$728$521$269
28 years$1,763$1,296$936$667$470$236
29 years$1,684$1,222$871$612$424$207
30 years$1,610$1,154$812$562$383$181
31 years$1,541$1,091$757$516$347$159
32 years$1,477$1,032$706$474$314$139
33 years$1,417$978$659$436$284$122
34 years$1,360$927$616$401$257$107
35 years$1,307$879$576$369$233$94
36 years$1,256$834$539$340$211$82
37 years$1,209$792$504$313$191$72
38 years$1,164$753$472$289$173$63
39 years$1,122$716$442$266$157$56
40 years$1,081$681$415$246$143$49
41 years$1,043$649$389$227$129$43
42 years$1,007$618$365$209$117$38
43 years$973$588$342$193$106$33
44 years$940$561$321$178$97$29
45 years$909$535$302$165$88$26
46 years$879$510$283$152$80$22
47 years$850$487$266$140$72$20
48 years$823$465$250$130$66$17
49 years$797$444$235$120$60$15
50 years$772$424$221$111$54$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $791,000, adding $3,226 every year, while hoping to spend $44,789 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: 47/44/9 Blend
55$791,000$791,000$791,000$791,000
56$875,010$833,087$820,826$913,830
57$916,605$826,253$800,669$934,042
58$960,943$817,583$778,335$951,036
59$1,008,254$806,940$753,704$968,449
60$1,058,794$794,178$726,651$986,335
61$1,112,842$779,143$697,045$1,004,754
62$1,170,703$761,672$664,747$1,023,778
63$1,232,713$741,592$629,614$1,043,487
64$1,299,240$718,721$591,496$1,063,973
65$1,370,687$692,863$550,237$1,085,341
66$1,447,499$663,814$505,671$1,107,711
67$1,530,160$631,358$457,627$1,131,219
68$1,619,206$595,264$405,927$1,156,020
69$1,715,223$555,290$350,384$1,182,287
70$1,818,856$511,180$290,802$1,210,219
71$1,930,813$462,661$226,978$1,240,038
72$2,051,873$409,448$158,698$1,271,996
73$2,182,890$351,237$85,740$1,306,374
74$2,324,805$287,708$7,873$1,343,491
75$2,478,652$218,522$0$1,383,704
76$2,645,568$143,324$0$1,434,637
77$2,826,803$61,734$0$1,490,792
78$3,023,734$0$0$1,551,941
79$3,237,872$0$0$1,631,573
80$3,470,882$0$0$1,750,827
81$3,724,595$0$0$1,880,758
82$4,001,028$0$0$2,022,411
83$4,302,397$0$0$2,176,930
84$4,631,144$0$0$2,345,581
85$4,989,954$0$0$2,529,751
86$5,381,786$0$0$2,730,972
87$5,809,895$0$0$2,950,928
88$6,277,865$0$0$3,191,473
89$6,789,641$0$0$3,454,650
90$7,349,569$0$0$3,742,707
91$7,962,432$0$0$4,058,120
92$8,633,498$0$0$4,403,614
93$9,368,568$0$0$4,782,194
94$10,174,031$0$0$5,197,165
95$11,056,922$0$0$5,652,170
96$12,024,989$0$0$6,151,219
97$13,086,768$0$0$6,698,731
98$14,251,657$0$0$7,299,572
99$15,530,012$0$0$7,959,102
100$16,933,236$0$0$8,683,226