Can I retire at age 56 with 798,000?

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 $798,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$65,898$65,311$64,738$64,179$63,634$62,865
2 years$32,623$32,015$31,426$30,856$30,302$29,528
3 years$21,533$20,922$20,335$19,769$19,225$18,470
4 years$15,988$15,380$14,799$14,243$13,711$12,981
5 years$12,663$12,058$11,484$10,940$10,423$9,720
6 years$10,447$9,846$9,281$8,749$8,247$7,572
7 years$8,864$8,269$7,713$7,193$6,707$6,061
8 years$7,678$7,088$6,541$6,034$5,564$4,946
9 years$6,756$6,171$5,634$5,139$4,686$4,095
10 years$6,018$5,440$4,912$4,430$3,993$3,429
11 years$5,415$4,843$4,324$3,856$3,434$2,898
12 years$4,913$4,347$3,838$3,382$2,976$2,466
13 years$4,489$3,928$3,429$2,986$2,595$2,111
14 years$4,125$3,570$3,081$2,650$2,275$1,816
15 years$3,811$3,262$2,781$2,364$2,003$1,568
16 years$3,535$2,993$2,522$2,116$1,770$1,359
17 years$3,293$2,756$2,295$1,902$1,569$1,181
18 years$3,078$2,547$2,095$1,714$1,395$1,029
19 years$2,885$2,360$1,918$1,548$1,244$898
20 years$2,712$2,193$1,760$1,402$1,111$786
21 years$2,556$2,043$1,619$1,273$994$688
22 years$2,414$1,907$1,492$1,157$891$604
23 years$2,285$1,784$1,378$1,054$800$530
24 years$2,166$1,671$1,274$961$719$466
25 years$2,057$1,568$1,180$878$647$410
26 years$1,957$1,474$1,094$803$583$361
27 years$1,864$1,387$1,016$735$525$318
28 years$1,779$1,307$945$673$474$281
29 years$1,699$1,233$879$617$428$248
30 years$1,624$1,165$819$567$387$219
31 years$1,555$1,101$763$520$350$193
32 years$1,490$1,042$712$478$316$171
33 years$1,429$986$665$440$286$151
34 years$1,372$935$621$405$259$133
35 years$1,318$887$581$372$235$118
36 years$1,267$842$543$343$213$104
37 years$1,220$799$509$316$193$92
38 years$1,174$760$476$291$175$81
39 years$1,132$722$446$269$159$72
40 years$1,091$687$418$248$144$64
41 years$1,053$654$392$229$130$56
42 years$1,016$623$368$211$118$50
43 years$981$594$345$195$107$44
44 years$948$566$324$180$98$39
45 years$917$540$304$166$89$35
46 years$887$515$286$153$80$31
47 years$858$491$269$142$73$27
48 years$830$469$252$131$66$24
49 years$804$448$237$121$60$21
50 years$779$428$223$112$55$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $798,000, adding $5,455 every year, while hoping to spend $34,012 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: 79/8/13 Blend
55$798,000$798,000$798,000$798,000
56$885,023$842,729$830,360$952,268
57$939,107$847,834$821,988$1,002,371
58$997,567$852,049$812,197$1,052,405
59$1,060,815$855,296$800,901$1,106,327
60$1,129,301$857,488$788,014$1,164,510
61$1,203,521$858,537$773,444$1,227,366
62$1,284,021$858,346$757,096$1,295,350
63$1,371,402$856,815$738,868$1,368,963
64$1,466,322$853,836$718,658$1,448,755
65$1,569,507$849,295$696,353$1,535,334
66$1,681,756$843,070$671,841$1,629,370
67$1,803,948$835,033$645,000$1,731,601
68$1,937,049$825,048$615,706$1,842,841
69$2,082,123$812,970$583,827$1,963,985
70$2,240,341$798,647$549,226$2,096,022
71$2,412,991$781,915$511,760$2,240,041
72$2,601,491$762,605$471,280$2,397,243
73$2,807,403$740,532$427,628$2,568,950
74$3,032,446$715,506$380,641$2,756,621
75$3,278,512$687,322$330,149$2,961,864
76$3,547,684$655,765$275,973$3,186,450
77$3,842,257$620,607$217,927$3,432,332
78$4,164,757$581,606$155,817$3,701,665
79$4,517,966$538,508$89,440$3,996,821
80$4,904,946$491,043$18,584$4,320,415
81$5,329,072$438,926$0$4,675,333
82$5,794,059$381,855$0$5,072,662
83$6,304,000$319,512$0$5,511,262
84$6,863,401$251,562$0$5,992,447
85$7,477,228$177,648$0$6,520,510
86$8,150,949$97,397$0$7,100,179
87$8,890,587$10,410$0$7,736,666
88$9,702,778$0$0$8,435,711
89$10,594,830$0$0$9,211,012
90$11,574,797$0$0$10,063,753
91$12,651,548$0$0$11,000,741
92$13,834,856$0$0$12,030,481
93$15,135,485$0$0$13,162,347
94$16,565,298$0$0$14,406,662
95$18,137,360$0$0$15,774,803
96$19,866,068$0$0$17,279,302
97$21,767,283$0$0$18,933,967
98$23,858,480$0$0$20,754,012
99$26,158,914$0$0$22,756,198
100$28,689,799$0$0$24,958,993