Can I retire at age 56 with 792,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.2%
1 years$65,403$64,820$64,252$63,697$63,155$62,314
2 years$32,378$31,775$31,190$30,624$30,074$29,228
3 years$21,371$20,765$20,182$19,621$19,080$18,256
4 years$15,868$15,264$14,687$14,136$13,608$12,811
5 years$12,568$11,968$11,398$10,858$10,345$9,578
6 years$10,368$9,772$9,211$8,683$8,185$7,450
7 years$8,797$8,207$7,655$7,139$6,657$5,952
8 years$7,620$7,035$6,492$5,988$5,523$4,849
9 years$6,705$6,125$5,591$5,101$4,651$4,008
10 years$5,973$5,399$4,875$4,397$3,963$3,350
11 years$5,375$4,806$4,292$3,827$3,408$2,825
12 years$4,876$4,314$3,809$3,357$2,953$2,400
13 years$4,455$3,899$3,403$2,963$2,575$2,050
14 years$4,094$3,544$3,057$2,630$2,258$1,760
15 years$3,782$3,237$2,760$2,346$1,988$1,517
16 years$3,509$2,970$2,503$2,101$1,757$1,312
17 years$3,268$2,735$2,277$1,887$1,558$1,138
18 years$3,054$2,528$2,079$1,701$1,385$989
19 years$2,863$2,343$1,903$1,537$1,234$862
20 years$2,692$2,177$1,747$1,392$1,103$752
21 years$2,537$2,028$1,607$1,263$987$657
22 years$2,396$1,893$1,481$1,149$884$575
23 years$2,267$1,770$1,367$1,046$794$504
24 years$2,150$1,659$1,264$954$714$442
25 years$2,042$1,556$1,171$871$642$388
26 years$1,942$1,463$1,086$797$578$341
27 years$1,850$1,377$1,009$729$522$300
28 years$1,765$1,297$938$668$471$264
29 years$1,686$1,224$873$613$425$232
30 years$1,612$1,156$813$562$384$204
31 years$1,543$1,093$758$516$347$180
32 years$1,479$1,034$707$475$314$159
33 years$1,418$979$660$436$284$140
34 years$1,362$928$617$402$257$123
35 years$1,308$880$577$370$233$109
36 years$1,258$835$539$340$211$96
37 years$1,210$793$505$314$191$85
38 years$1,166$754$473$289$173$75
39 years$1,123$717$443$267$157$66
40 years$1,083$682$415$246$143$58
41 years$1,045$649$389$227$129$51
42 years$1,008$618$365$209$117$45
43 years$974$589$343$193$107$40
44 years$941$562$322$178$97$35
45 years$910$536$302$165$88$31
46 years$880$511$284$152$80$28
47 years$851$488$266$141$72$24
48 years$824$465$250$130$66$21
49 years$798$444$235$120$60$19
50 years$773$425$221$111$54$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $792,000, adding $6,871 every year, while hoping to spend $32,311 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: 46/41/13 Blend
55$792,000$792,000$792,000$792,000
56$879,871$837,895$825,619$916,815
57$935,240$844,574$818,899$949,811
58$995,173$850,496$810,871$981,738
59$1,060,102$855,592$801,456$1,015,658
60$1,130,501$859,785$790,574$1,051,769
61$1,206,893$862,995$778,139$1,090,288
62$1,289,850$865,137$764,061$1,131,458
63$1,380,005$866,118$748,247$1,175,547
64$1,478,052$865,844$730,599$1,222,853
65$1,584,753$864,210$711,015$1,273,704
66$1,700,950$861,109$689,386$1,328,466
67$1,827,568$856,424$665,601$1,387,542
68$1,965,624$850,033$639,543$1,451,381
69$2,116,238$841,805$611,088$1,520,478
70$2,280,644$831,603$580,109$1,595,381
71$2,460,198$819,281$546,472$1,676,697
72$2,656,396$804,683$510,036$1,765,099
73$2,870,881$787,645$470,655$1,861,330
74$3,105,465$767,993$428,176$1,966,213
75$3,362,142$745,544$382,439$2,080,658
76$3,643,107$720,103$333,277$2,205,673
77$3,950,778$691,462$280,517$2,342,370
78$4,287,818$659,405$223,975$2,491,982
79$4,657,160$623,700$163,462$2,655,870
80$5,062,032$584,102$98,779$2,835,540
81$5,505,990$540,355$29,720$3,032,655
82$5,992,953$492,184$0$3,249,056
83$6,527,234$439,301$0$3,492,874
84$7,113,587$381,402$0$3,765,054
85$7,757,246$318,163$0$4,063,981
86$8,463,977$249,246$0$4,392,434
87$9,240,133$174,289$0$4,753,477
88$10,092,711$92,913$0$5,150,494
89$11,029,420$4,718$0$5,587,220
90$12,058,751$0$0$6,067,778
91$13,190,060$0$0$6,637,647
92$14,433,655$0$0$7,266,517
93$15,800,890$0$0$7,958,015
94$17,304,275$0$0$8,718,480
95$18,957,594$0$0$9,554,898
96$20,776,032$0$0$10,474,966
97$22,776,322$0$0$11,487,162
98$24,976,896$0$0$12,600,831
99$27,398,067$0$0$13,826,267
100$30,062,213$0$0$15,174,811