Can I retire at age 56 with 796,000?

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 $796,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$65,733$65,147$64,576$64,019$63,474$62,655
2 years$32,541$31,935$31,348$30,778$30,226$29,402
3 years$21,479$20,870$20,284$19,720$19,176$18,373
4 years$15,948$15,342$14,762$14,207$13,677$12,900
5 years$12,631$12,028$11,456$10,912$10,397$9,649
6 years$10,420$9,822$9,258$8,727$8,227$7,509
7 years$8,842$8,248$7,693$7,175$6,691$6,003
8 years$7,659$7,070$6,525$6,019$5,550$4,893
9 years$6,739$6,156$5,620$5,127$4,674$4,047
10 years$6,003$5,426$4,899$4,419$3,983$3,385
11 years$5,402$4,831$4,313$3,846$3,425$2,857
12 years$4,901$4,336$3,828$3,373$2,968$2,428
13 years$4,478$3,918$3,420$2,978$2,588$2,075
14 years$4,115$3,562$3,073$2,644$2,269$1,783
15 years$3,801$3,254$2,774$2,358$1,998$1,538
16 years$3,527$2,985$2,515$2,111$1,766$1,331
17 years$3,285$2,749$2,289$1,897$1,566$1,155
18 years$3,070$2,540$2,089$1,709$1,392$1,005
19 years$2,878$2,354$1,913$1,545$1,241$876
20 years$2,705$2,188$1,755$1,399$1,108$765
21 years$2,549$2,038$1,615$1,270$992$669
22 years$2,408$1,902$1,488$1,154$889$586
23 years$2,279$1,779$1,374$1,051$798$514
24 years$2,161$1,667$1,271$959$717$451
25 years$2,052$1,564$1,177$876$645$396
26 years$1,952$1,470$1,092$801$581$349
27 years$1,860$1,384$1,014$733$524$307
28 years$1,774$1,304$942$671$473$270
29 years$1,694$1,230$877$616$427$238
30 years$1,620$1,162$817$565$386$210
31 years$1,551$1,098$761$519$349$185
32 years$1,486$1,039$710$477$316$163
33 years$1,426$984$663$439$286$144
34 years$1,368$933$620$404$259$127
35 years$1,315$885$579$372$234$112
36 years$1,264$840$542$342$212$99
37 years$1,217$797$507$315$192$87
38 years$1,171$758$475$291$174$77
39 years$1,129$721$445$268$158$68
40 years$1,088$686$417$247$143$60
41 years$1,050$653$391$228$130$53
42 years$1,013$622$367$210$118$47
43 years$979$592$344$194$107$41
44 years$946$564$323$179$97$37
45 years$914$538$304$166$88$32
46 years$884$513$285$153$80$29
47 years$856$490$268$141$73$25
48 years$828$468$252$131$66$22
49 years$802$447$237$121$60$20
50 years$777$427$222$112$55$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $796,000, adding $4,103 every year, while hoping to spend $44,764 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: 61/17/22 Blend
55$796,000$796,000$796,000$796,000
56$881,424$839,236$826,898$929,854
57$923,701$832,730$806,971$956,623
58$968,790$824,405$784,875$980,541
59$1,016,930$814,125$760,492$1,005,645
60$1,068,384$801,744$733,696$1,032,058
61$1,123,440$787,110$704,356$1,059,915
62$1,182,413$770,061$672,334$1,089,369
63$1,245,649$750,424$637,487$1,120,589
64$1,313,529$728,018$599,666$1,153,765
65$1,386,468$702,650$558,714$1,189,106
66$1,464,923$674,116$514,467$1,226,847
67$1,549,399$642,201$466,755$1,267,247
68$1,640,444$606,676$415,398$1,310,597
69$1,738,666$567,299$360,211$1,357,219
70$1,844,730$523,817$300,998$1,407,469
71$1,959,368$475,959$237,556$1,461,746
72$2,083,382$423,440$169,673$1,520,491
73$2,217,657$365,958$97,127$1,584,194
74$2,363,163$303,195$19,686$1,653,398
75$2,520,969$234,815$0$1,728,707
76$2,692,250$160,463$0$1,825,568
77$2,878,296$79,763$0$1,935,837
78$3,080,530$0$0$2,055,771
79$3,300,513$0$0$2,187,784
80$3,539,967$0$0$2,347,777
81$3,800,784$0$0$2,522,099
82$4,085,045$0$0$2,712,150
83$4,395,043$0$0$2,919,470
84$4,733,301$0$0$3,145,752
85$5,102,596$0$0$3,392,863
86$5,505,982$0$0$3,662,856
87$5,946,827$0$0$3,957,991
88$6,428,833$0$0$4,280,759
89$6,956,080$0$0$4,633,898
90$7,533,059$0$0$5,020,428
91$8,164,714$0$0$5,443,671
92$8,856,492$0$0$5,907,286
93$9,614,388$0$0$6,415,304
94$10,445,008$0$0$6,972,161
95$11,355,625$0$0$7,582,747
96$12,354,250$0$0$8,252,444
97$13,449,705$0$0$8,987,182
98$14,651,709$0$0$9,793,493
99$15,970,966$0$0$10,678,571
100$17,419,269$0$0$11,650,340