Can I retire at age 56 with 797,000?

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 $797,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$65,816$65,229$64,657$64,099$63,554$61,917
2 years$32,582$31,975$31,387$30,817$30,264$28,626
3 years$21,506$20,896$20,309$19,745$19,201$17,612
4 years$15,968$15,361$14,780$14,225$13,694$12,168
5 years$12,647$12,043$11,470$10,926$10,410$8,950
6 years$10,433$9,834$9,269$8,738$8,237$6,845
7 years$8,853$8,259$7,703$7,184$6,699$5,375
8 years$7,668$7,079$6,533$6,026$5,557$4,300
9 years$6,747$6,164$5,627$5,133$4,680$3,489
10 years$6,011$5,433$4,905$4,425$3,988$2,862
11 years$5,409$4,837$4,319$3,851$3,430$2,366
12 years$4,907$4,341$3,833$3,378$2,972$1,970
13 years$4,483$3,923$3,424$2,982$2,592$1,649
14 years$4,120$3,566$3,077$2,647$2,272$1,386
15 years$3,806$3,258$2,778$2,361$2,000$1,169
16 years$3,531$2,989$2,519$2,114$1,768$989
17 years$3,289$2,753$2,292$1,899$1,568$839
18 years$3,074$2,544$2,092$1,712$1,394$713
19 years$2,882$2,357$1,915$1,547$1,242$607
20 years$2,709$2,191$1,758$1,401$1,110$518
21 years$2,553$2,040$1,617$1,271$993$442
22 years$2,411$1,905$1,490$1,156$890$378
23 years$2,282$1,781$1,376$1,053$799$323
24 years$2,163$1,669$1,272$960$718$277
25 years$2,055$1,566$1,178$877$646$237
26 years$1,955$1,472$1,093$802$582$203
27 years$1,862$1,385$1,015$734$525$174
28 years$1,776$1,305$944$672$474$149
29 years$1,697$1,232$878$617$428$128
30 years$1,622$1,163$818$566$386$110
31 years$1,553$1,099$762$520$349$94
32 years$1,488$1,040$711$478$316$81
33 years$1,427$985$664$439$286$70
34 years$1,370$934$621$404$259$60
35 years$1,316$886$580$372$234$51
36 years$1,266$841$543$343$212$44
37 years$1,218$798$508$316$193$38
38 years$1,173$759$476$291$175$33
39 years$1,130$721$446$268$158$28
40 years$1,090$686$418$247$144$24
41 years$1,051$653$392$228$130$21
42 years$1,015$622$367$211$118$18
43 years$980$593$345$194$107$15
44 years$947$565$324$180$97$13
45 years$915$539$304$166$88$11
46 years$885$514$285$153$80$10
47 years$857$491$268$142$73$8
48 years$829$468$252$131$66$7
49 years$803$447$237$121$60$6
50 years$778$427$223$112$55$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $797,000, adding $2,559 every year, while hoping to spend $43,574 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: 60/17/23 Blend
55$797,000$797,000$797,000$797,000
56$880,934$838,693$826,339$928,258
57$924,426$833,426$807,659$955,421
58$970,895$826,441$786,893$980,077
59$1,020,597$817,608$763,925$1,006,021
60$1,073,815$806,787$738,633$1,033,388
61$1,130,858$793,834$710,891$1,062,324
62$1,192,067$778,593$680,567$1,092,996
63$1,257,813$760,899$647,521$1,125,589
64$1,328,506$740,579$611,609$1,160,307
65$1,404,595$717,449$572,680$1,197,379
66$1,486,574$691,315$530,575$1,237,059
67$1,574,984$661,968$485,129$1,279,629
68$1,670,420$629,193$436,168$1,325,402
69$1,773,537$592,757$383,514$1,374,728
70$1,885,053$552,417$326,977$1,427,992
71$2,005,758$507,915$266,360$1,485,626
72$2,136,520$458,978$201,458$1,548,106
73$2,278,294$405,317$132,056$1,615,960
74$2,432,131$346,628$57,930$1,689,776
75$2,599,184$282,589$0$1,770,205
76$2,780,725$212,860$0$1,863,163
77$2,978,151$137,082$0$1,979,765
78$3,192,998$54,874$0$2,106,726
79$3,426,958$0$0$2,245,094
80$3,681,893$0$0$2,402,412
81$3,959,851$0$0$2,585,189
82$4,263,087$0$0$2,784,646
83$4,594,082$0$0$3,002,426
84$4,955,567$0$0$3,240,331
85$5,350,549$0$0$3,500,351
86$5,782,340$0$0$3,784,672
87$6,254,583$0$0$4,095,702
88$6,771,292$0$0$4,436,096
89$7,336,886$0$0$4,808,772
90$7,956,230$0$0$5,216,948
91$8,634,683$0$0$5,664,164
92$9,378,147$0$0$6,154,322
93$10,193,119$0$0$6,691,717
94$11,086,759$0$0$7,281,080
95$12,066,948$0$0$7,927,623
96$13,142,372$0$0$8,637,085
97$14,322,593$0$0$9,415,789
98$15,618,148$0$0$10,270,699
99$17,040,640$0$0$11,209,486
100$18,602,854$0$0$12,240,602