Can I retire at age 56 with 797,000?

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 $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%16.8%
1 years$65,816$65,229$64,657$64,099$63,554$61,792
2 years$32,582$31,975$31,387$30,817$30,264$28,502
3 years$21,506$20,896$20,309$19,745$19,201$17,494
4 years$15,968$15,361$14,780$14,225$13,694$12,055
5 years$12,647$12,043$11,470$10,926$10,410$8,844
6 years$10,433$9,834$9,269$8,738$8,237$6,745
7 years$8,853$8,259$7,703$7,184$6,699$5,282
8 years$7,668$7,079$6,533$6,026$5,557$4,214
9 years$6,747$6,164$5,627$5,133$4,680$3,409
10 years$6,011$5,433$4,905$4,425$3,988$2,787
11 years$5,409$4,837$4,319$3,851$3,430$2,297
12 years$4,907$4,341$3,833$3,378$2,972$1,906
13 years$4,483$3,923$3,424$2,982$2,592$1,590
14 years$4,120$3,566$3,077$2,647$2,272$1,332
15 years$3,806$3,258$2,778$2,361$2,000$1,120
16 years$3,531$2,989$2,519$2,114$1,768$944
17 years$3,289$2,753$2,292$1,899$1,568$798
18 years$3,074$2,544$2,092$1,712$1,394$676
19 years$2,882$2,357$1,915$1,547$1,242$573
20 years$2,709$2,191$1,758$1,401$1,110$487
21 years$2,553$2,040$1,617$1,271$993$414
22 years$2,411$1,905$1,490$1,156$890$352
23 years$2,282$1,781$1,376$1,053$799$300
24 years$2,163$1,669$1,272$960$718$256
25 years$2,055$1,566$1,178$877$646$218
26 years$1,955$1,472$1,093$802$582$186
27 years$1,862$1,385$1,015$734$525$159
28 years$1,776$1,305$944$672$474$136
29 years$1,697$1,232$878$617$428$116
30 years$1,622$1,163$818$566$386$99
31 years$1,553$1,099$762$520$349$85
32 years$1,488$1,040$711$478$316$73
33 years$1,427$985$664$439$286$62
34 years$1,370$934$621$404$259$53
35 years$1,316$886$580$372$234$45
36 years$1,266$841$543$343$212$39
37 years$1,218$798$508$316$193$33
38 years$1,173$759$476$291$175$28
39 years$1,130$721$446$268$158$24
40 years$1,090$686$418$247$144$21
41 years$1,051$653$392$228$130$18
42 years$1,015$622$367$211$118$15
43 years$980$593$345$194$107$13
44 years$947$565$324$180$97$11
45 years$915$539$304$166$88$10
46 years$885$514$285$153$80$8
47 years$857$491$268$142$73$7
48 years$829$468$252$131$66$6
49 years$803$447$237$121$60$5
50 years$778$427$223$112$55$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $797,000, adding $6,201 every year, while hoping to spend $27,254 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: 37/49/14 Blend
55$797,000$797,000$797,000$797,000
56$884,690$842,449$830,096$913,433
57$945,931$854,731$828,906$946,895
58$1,012,504$866,702$826,763$979,943
59$1,084,926$878,316$823,606$1,015,048
60$1,163,763$889,528$819,371$1,052,408
61$1,249,638$900,287$813,992$1,092,242
62$1,343,239$910,539$807,398$1,134,791
63$1,445,321$920,227$799,517$1,180,324
64$1,556,715$929,289$790,272$1,229,137
65$1,678,335$937,660$779,582$1,281,558
66$1,811,191$945,270$767,363$1,337,950
67$1,956,390$952,046$753,528$1,398,715
68$2,115,154$957,909$737,983$1,464,296
69$2,288,827$962,774$720,633$1,535,186
70$2,478,890$966,552$701,376$1,611,925
71$2,686,972$969,148$680,108$1,695,116
72$2,914,868$970,461$656,716$1,785,423
73$3,164,555$970,384$631,087$1,883,579
74$3,438,210$968,803$603,098$1,990,396
75$3,738,229$965,597$572,625$2,106,772
76$4,067,255$960,637$539,534$2,233,698
77$4,428,195$953,788$503,688$2,372,270
78$4,824,252$944,905$464,942$2,523,699
79$5,258,954$933,834$423,147$2,689,323
80$5,736,190$920,414$378,144$2,870,621
81$6,260,239$904,472$329,770$3,069,227
82$6,835,818$885,826$277,852$3,286,946
83$7,468,123$864,283$222,212$3,525,770
84$8,162,877$839,639$162,661$3,787,901
85$8,926,386$811,676$99,006$4,075,771
86$9,765,596$780,167$31,041$4,392,065
87$10,688,160$744,868$0$4,739,748
88$11,702,509$705,524$0$5,128,293
89$12,817,933$661,863$0$5,560,467
90$14,044,666$613,598$0$6,035,653
91$15,393,984$560,426$0$6,558,294
92$16,878,310$502,027$0$7,133,290
93$18,511,333$438,061$0$7,766,049
94$20,308,134$368,172$0$8,462,534
95$22,285,332$291,980$0$9,229,328
96$24,461,235$209,086$0$10,073,690
97$26,856,019$119,069$0$11,003,630
98$29,491,912$21,483$0$12,027,982
99$32,393,409$0$0$13,156,491
100$35,587,497$0$0$14,445,275