Can I retire at age 56 with 792,000?

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 $792,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$65,403$64,820$64,252$63,697$63,155$62,600
2 years$32,378$31,775$31,190$30,624$30,074$29,514
3 years$21,371$20,765$20,182$19,621$19,080$18,534
4 years$15,868$15,264$14,687$14,136$13,608$13,079
5 years$12,568$11,968$11,398$10,858$10,345$9,834
6 years$10,368$9,772$9,211$8,683$8,185$7,694
7 years$8,797$8,207$7,655$7,139$6,657$6,186
8 years$7,620$7,035$6,492$5,988$5,523$5,071
9 years$6,705$6,125$5,591$5,101$4,651$4,219
10 years$5,973$5,399$4,875$4,397$3,963$3,550
11 years$5,375$4,806$4,292$3,827$3,408$3,014
12 years$4,876$4,314$3,809$3,357$2,953$2,578
13 years$4,455$3,899$3,403$2,963$2,575$2,218
14 years$4,094$3,544$3,057$2,630$2,258$1,918
15 years$3,782$3,237$2,760$2,346$1,988$1,666
16 years$3,509$2,970$2,503$2,101$1,757$1,451
17 years$3,268$2,735$2,277$1,887$1,558$1,269
18 years$3,054$2,528$2,079$1,701$1,385$1,112
19 years$2,863$2,343$1,903$1,537$1,234$976
20 years$2,692$2,177$1,747$1,392$1,103$859
21 years$2,537$2,028$1,607$1,263$987$757
22 years$2,396$1,893$1,481$1,149$884$668
23 years$2,267$1,770$1,367$1,046$794$590
24 years$2,150$1,659$1,264$954$714$522
25 years$2,042$1,556$1,171$871$642$462
26 years$1,942$1,463$1,086$797$578$410
27 years$1,850$1,377$1,009$729$522$363
28 years$1,765$1,297$938$668$471$322
29 years$1,686$1,224$873$613$425$286
30 years$1,612$1,156$813$562$384$254
31 years$1,543$1,093$758$516$347$226
32 years$1,479$1,034$707$475$314$201
33 years$1,418$979$660$436$284$179
34 years$1,362$928$617$402$257$159
35 years$1,308$880$577$370$233$142
36 years$1,258$835$539$340$211$126
37 years$1,210$793$505$314$191$112
38 years$1,166$754$473$289$173$100
39 years$1,123$717$443$267$157$89
40 years$1,083$682$415$246$143$79
41 years$1,045$649$389$227$129$71
42 years$1,008$618$365$209$117$63
43 years$974$589$343$193$107$56
44 years$941$562$322$178$97$50
45 years$910$536$302$165$88$45
46 years$880$511$284$152$80$40
47 years$851$488$266$141$72$35
48 years$824$465$250$130$66$32
49 years$798$444$235$120$60$28
50 years$773$425$221$111$54$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $792,000, adding $4,470 every year, while hoping to spend $55,551 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: 36/39/25 Blend
55$792,000$792,000$792,000$792,000
56$877,395$835,419$823,143$902,242
57$907,783$817,248$791,612$902,808
58$939,409$796,326$757,164$898,014
59$972,341$772,458$719,640$891,742
60$1,006,651$745,439$678,879$883,895
61$1,042,417$715,053$634,709$874,372
62$1,079,723$681,071$586,952$863,066
63$1,118,660$643,249$535,420$849,865
64$1,159,327$601,331$479,920$834,653
65$1,201,828$555,046$420,247$817,309
66$1,246,278$504,107$356,189$797,705
67$1,292,800$448,210$287,523$775,711
68$1,341,529$387,036$214,019$751,187
69$1,392,610$320,245$135,433$723,990
70$1,446,200$247,481$51,513$693,972
71$1,502,469$168,364$0$660,978
72$1,561,604$82,497$0$634,995
73$1,623,805$0$0$621,033
74$1,689,293$0$0$609,764
75$1,758,307$0$0$635,240
76$1,831,106$0$0$662,158
77$1,907,975$0$0$690,629
78$1,989,222$0$0$720,772
79$2,075,185$0$0$752,721
80$2,166,233$0$0$786,620
81$2,262,768$0$0$822,625
82$2,365,231$0$0$860,910
83$2,474,102$0$0$901,662
84$2,589,908$0$0$945,089
85$2,713,225$0$0$991,416
86$2,844,683$0$0$1,040,891
87$2,984,973$0$0$1,093,786
88$3,134,852$0$0$1,150,398
89$3,295,149$0$0$1,211,054
90$3,466,773$0$0$1,276,110
91$3,650,722$0$0$1,345,961
92$3,848,090$0$0$1,421,036
93$4,060,076$0$0$1,501,810
94$4,287,998$0$0$1,588,801
95$4,533,304$0$0$1,682,580
96$4,797,580$0$0$1,783,773
97$5,082,571$0$0$1,893,070
98$5,390,194$0$0$2,011,227
99$5,722,554$0$0$2,139,075
100$6,081,966$0$0$2,277,529