Can I retire at age 56 with 794,000?

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 $794,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$65,568$64,984$64,414$63,858$63,315$62,394
2 years$32,459$31,855$31,269$30,701$30,150$29,224
3 years$21,425$20,817$20,233$19,670$19,128$18,227
4 years$15,908$15,303$14,724$14,171$13,642$12,772
5 years$12,599$11,998$11,427$10,885$10,371$9,533
6 years$10,394$9,797$9,235$8,705$8,206$7,403
7 years$8,820$8,228$7,674$7,157$6,674$5,905
8 years$7,639$7,053$6,508$6,004$5,536$4,802
9 years$6,722$6,141$5,605$5,114$4,663$3,962
10 years$5,988$5,413$4,887$4,408$3,973$3,306
11 years$5,388$4,818$4,302$3,836$3,417$2,783
12 years$4,889$4,325$3,818$3,365$2,961$2,359
13 years$4,466$3,908$3,411$2,971$2,582$2,012
14 years$4,105$3,553$3,065$2,637$2,263$1,723
15 years$3,791$3,245$2,767$2,352$1,993$1,482
16 years$3,518$2,978$2,509$2,106$1,761$1,279
17 years$3,276$2,742$2,283$1,892$1,562$1,107
18 years$3,062$2,534$2,084$1,705$1,389$960
19 years$2,871$2,348$1,908$1,541$1,238$835
20 years$2,699$2,182$1,751$1,395$1,105$727
21 years$2,543$2,033$1,611$1,266$989$634
22 years$2,402$1,897$1,484$1,151$887$554
23 years$2,273$1,775$1,371$1,049$796$484
24 years$2,155$1,663$1,268$956$715$424
25 years$2,047$1,560$1,174$873$644$371
26 years$1,947$1,467$1,089$799$580$325
27 years$1,855$1,380$1,011$731$523$285
28 years$1,770$1,301$940$670$472$250
29 years$1,690$1,227$875$614$426$220
30 years$1,616$1,159$815$564$385$193
31 years$1,547$1,095$760$518$348$170
32 years$1,483$1,036$709$476$315$149
33 years$1,422$981$662$438$285$131
34 years$1,365$930$618$403$258$115
35 years$1,312$882$578$371$234$101
36 years$1,261$837$541$341$212$89
37 years$1,213$795$506$314$192$78
38 years$1,168$756$474$290$174$69
39 years$1,126$719$444$267$158$61
40 years$1,086$684$416$247$143$54
41 years$1,047$651$390$227$130$47
42 years$1,011$620$366$210$118$41
43 years$976$591$344$194$107$37
44 years$943$563$322$179$97$32
45 years$912$537$303$165$88$28
46 years$882$512$284$153$80$25
47 years$854$489$267$141$73$22
48 years$826$467$251$130$66$19
49 years$800$446$236$120$60$17
50 years$775$426$222$111$54$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $794,000, adding $5,604 every year, while hoping to spend $38,805 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: 70/12/18 Blend
55$794,000$794,000$794,000$794,000
56$880,769$838,687$826,380$938,249
57$929,319$838,494$812,775$977,066
58$981,520$836,991$797,414$1,014,396
59$1,037,705$834,074$780,197$1,054,279
60$1,098,237$829,629$761,020$1,096,961
61$1,163,516$823,539$739,772$1,142,717
62$1,233,980$815,679$716,341$1,191,848
63$1,310,114$805,914$690,606$1,244,687
64$1,392,446$794,105$662,442$1,301,602
65$1,481,560$780,101$631,718$1,363,002
66$1,578,097$763,744$598,299$1,429,333
67$1,682,762$744,866$562,041$1,501,093
68$1,796,329$723,290$522,794$1,578,829
69$1,919,650$698,827$480,404$1,663,147
70$2,053,664$671,278$434,706$1,754,713
71$2,199,400$640,433$385,531$1,854,265
72$2,357,993$606,069$332,701$1,962,618
73$2,530,692$567,950$276,030$2,080,669
74$2,718,870$525,827$215,325$2,209,412
75$2,924,039$479,437$150,382$2,349,942
76$3,147,862$428,501$80,991$2,503,468
77$3,392,171$372,724$6,931$2,671,324
78$3,658,980$311,795$0$2,854,984
79$3,950,510$245,387$0$3,069,922
80$4,269,203$173,152$0$3,306,404
81$4,617,748$94,722$0$3,565,127
82$4,999,107$9,712$0$3,848,325
83$5,416,540$0$0$4,158,462
84$5,873,639$0$0$4,509,119
85$6,374,357$0$0$4,894,686
86$6,923,049$0$0$5,317,239
87$7,524,510$0$0$5,780,475
88$8,184,023$0$0$6,288,470
89$8,907,405$0$0$6,845,709
90$9,701,063$0$0$7,457,134
91$10,572,054$0$0$8,128,190
92$11,528,154$0$0$8,864,871
93$12,577,924$0$0$9,673,784
94$13,730,799$0$0$10,562,204
95$14,997,170$0$0$11,538,146
96$16,388,485$0$0$12,610,440
97$17,917,354$0$0$13,788,813
98$19,597,671$0$0$15,083,981
99$21,444,742$0$0$16,507,751
100$23,475,429$0$0$18,073,130