"Wattage" does not tell the story. In fact, it rarely even has much to do with anything especially if it's an older unit. If that unit is more than 3 years old, unless it is a VERY high quality power supply and is less than five years old, it would be very foolish to reuse it with your new hardware. This is exactly the type of wrong thinking that ends up with a lot of people ruining brand new hardware. And that's not just "everybody needs a new PSU" line of thinking, it's simply a fact.
You want to make SURE you are not making such a mistake. As I say, "wattage" really doesn't tell you ANYTHING, at ALL. One unit with an advertised 500w capacity might only be able to actually supply maybe 40-50% of another model that also claims 500w capacity. Then there are other considerations as well such as how old the unit is, because power supplies lose the ability to supply full capacity over time and quite often what worked with one system simply will not with a new one even if on paper it seems as though it should.
In addition to that is the fact that if the unit you have does not support the required low power sleep states that have become common since about the LGA 1150 days (Haswell, Broadwell, which are like 4th and 5th gen platforms) and became, for a time, known as being "Haswell compliant" which in reality simply means that the power supply can support the C6 and C7 states and AMD Ryzen platforms require this ability these days as well as Intel. For your LGA 1156 platform, if your power supply is from the same approximate era as your board and CPU or even a little newer, it is probably a group regulated unit and will not only not support those states but being group regulated can have some other issues with newer platforms as well.
It would almost certainly be a very bad idea to try and use that power supply with a new platform unless you've replaced that power supply in the last five years or so and it's a very good model. Even then, it might not be a good idea.
What is the model of your existing power supply? If you are unsure, look at the specifications label on the unit. It will list the model. Also, approximately how long has that PSU been in service?
These are VERY important questions to ask. These are not the days of "oh, well just about any PSU will do fine". Those days are gone. Even power supplies from well known brands are VERY often nothing but pure junk. It is, specifically, the model that tells the story.