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%17.8%
1 years$65,403$64,820$64,252$63,697$63,155$61,158
2 years$32,378$31,775$31,190$30,624$30,074$28,080
3 years$21,371$20,765$20,182$19,621$19,080$17,152
4 years$15,868$15,264$14,687$14,136$13,608$11,760
5 years$12,568$11,968$11,398$10,858$10,345$8,582
6 years$10,368$9,772$9,211$8,683$8,185$6,510
7 years$8,797$8,207$7,655$7,139$6,657$5,068
8 years$7,620$7,035$6,492$5,988$5,523$4,020
9 years$6,705$6,125$5,591$5,101$4,651$3,232
10 years$5,973$5,399$4,875$4,397$3,963$2,626
11 years$5,375$4,806$4,292$3,827$3,408$2,151
12 years$4,876$4,314$3,809$3,357$2,953$1,773
13 years$4,455$3,899$3,403$2,963$2,575$1,469
14 years$4,094$3,544$3,057$2,630$2,258$1,222
15 years$3,782$3,237$2,760$2,346$1,988$1,020
16 years$3,509$2,970$2,503$2,101$1,757$854
17 years$3,268$2,735$2,277$1,887$1,558$716
18 years$3,054$2,528$2,079$1,701$1,385$602
19 years$2,863$2,343$1,903$1,537$1,234$507
20 years$2,692$2,177$1,747$1,392$1,103$427
21 years$2,537$2,028$1,607$1,263$987$361
22 years$2,396$1,893$1,481$1,149$884$305
23 years$2,267$1,770$1,367$1,046$794$257
24 years$2,150$1,659$1,264$954$714$218
25 years$2,042$1,556$1,171$871$642$184
26 years$1,942$1,463$1,086$797$578$156
27 years$1,850$1,377$1,009$729$522$132
28 years$1,765$1,297$938$668$471$112
29 years$1,686$1,224$873$613$425$95
30 years$1,612$1,156$813$562$384$80
31 years$1,543$1,093$758$516$347$68
32 years$1,479$1,034$707$475$314$58
33 years$1,418$979$660$436$284$49
34 years$1,362$928$617$402$257$42
35 years$1,308$880$577$370$233$35
36 years$1,258$835$539$340$211$30
37 years$1,210$793$505$314$191$25
38 years$1,166$754$473$289$173$22
39 years$1,123$717$443$267$157$18
40 years$1,083$682$415$246$143$16
41 years$1,045$649$389$227$129$13
42 years$1,008$618$365$209$117$11
43 years$974$589$343$193$107$10
44 years$941$562$322$178$97$8
45 years$910$536$302$165$88$7
46 years$880$511$284$152$80$6
47 years$851$488$266$141$72$5
48 years$824$465$250$130$66$4
49 years$798$444$235$120$60$4
50 years$773$425$221$111$54$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $792,000, adding $5,987 every year, while hoping to spend $40,245 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: 40/35/25 Blend
55$792,000$792,000$792,000$792,000
56$878,960$836,984$824,708$907,418
57$925,793$835,175$809,515$926,723
58$976,055$831,930$792,464$943,371
59$1,030,052$827,134$773,451$960,591
60$1,088,121$820,668$752,366$978,462
61$1,150,634$812,404$729,095$997,069
62$1,217,995$802,209$703,516$1,016,511
63$1,290,653$789,939$675,506$1,036,901
64$1,369,096$775,443$644,932$1,058,365
65$1,453,865$758,561$611,659$1,081,047
66$1,545,552$739,123$575,542$1,105,109
67$1,644,808$716,950$536,432$1,130,733
68$1,752,349$691,851$494,173$1,158,125
69$1,868,961$663,624$448,600$1,187,515
70$1,995,511$632,058$399,544$1,219,164
71$2,132,950$596,926$346,826$1,253,361
72$2,282,326$557,990$290,260$1,290,434
73$2,444,791$514,999$229,651$1,330,746
74$2,621,611$467,685$164,796$1,374,708
75$2,814,182$415,768$95,483$1,422,774
76$3,024,038$358,950$21,491$1,475,457
77$3,252,867$296,916$0$1,533,324
78$3,502,529$229,335$0$1,612,342
79$3,775,069$155,854$0$1,705,003
80$4,072,740$76,105$0$1,806,423
81$4,398,021$0$0$1,917,553
82$4,753,641$0$0$2,043,411
83$5,142,605$0$0$2,213,229
84$5,568,223$0$0$2,399,152
85$6,034,137$0$0$2,602,784
86$6,544,360$0$0$2,825,893
87$7,103,311$0$0$3,070,425
88$7,715,854$0$0$3,338,521
89$8,387,349$0$0$3,632,543
90$9,123,697$0$0$3,955,091
91$9,931,400$0$0$4,309,027
92$10,817,616$0$0$4,697,506
93$11,790,232$0$0$5,124,002
94$12,857,936$0$0$5,592,342
95$14,030,296$0$0$6,106,742
96$15,317,853$0$0$6,671,846
97$16,732,221$0$0$7,292,771
98$18,286,190$0$0$7,975,153
99$19,993,853$0$0$8,725,201
100$21,870,735$0$0$9,549,756