Can I retire at age 57 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$82,579$81,843$81,126$80,425$79,741$77,251
2 years$40,881$40,119$39,381$38,666$37,972$35,485
3 years$26,983$26,218$25,482$24,774$24,091$21,685
4 years$20,036$19,273$18,545$17,848$17,182$14,876
5 years$15,868$15,111$14,391$13,709$13,061$10,862
6 years$13,091$12,339$11,630$10,963$10,335$8,244
7 years$11,108$10,362$9,665$9,013$8,405$6,422
8 years$9,621$8,882$8,197$7,561$6,973$5,096
9 years$8,466$7,734$7,060$6,440$5,872$4,100
10 years$7,542$6,817$6,155$5,552$5,003$3,333
11 years$6,786$6,069$5,419$4,832$4,303$2,732
12 years$6,157$5,447$4,809$4,238$3,729$2,253
13 years$5,625$4,922$4,296$3,742$3,252$1,868
14 years$5,170$4,474$3,860$3,321$2,850$1,555
15 years$4,775$4,087$3,485$2,962$2,510$1,299
16 years$4,430$3,750$3,160$2,652$2,218$1,088
17 years$4,126$3,454$2,875$2,383$1,967$914
18 years$3,857$3,191$2,625$2,148$1,749$769
19 years$3,615$2,958$2,403$1,940$1,559$647
20 years$3,399$2,748$2,205$1,757$1,392$546
21 years$3,203$2,560$2,029$1,595$1,246$461
22 years$3,025$2,390$1,870$1,450$1,117$390
23 years$2,863$2,235$1,726$1,321$1,002$330
24 years$2,714$2,094$1,596$1,205$901$279
25 years$2,578$1,965$1,479$1,100$811$237
26 years$2,453$1,847$1,371$1,006$730$200
27 years$2,336$1,738$1,273$921$658$170
28 years$2,229$1,638$1,184$844$594$144
29 years$2,129$1,545$1,102$774$537$122
30 years$2,036$1,459$1,026$710$485$104
31 years$1,949$1,380$957$652$438$88
32 years$1,867$1,305$893$599$396$75
33 years$1,791$1,236$833$551$359$63
34 years$1,719$1,172$779$507$325$54
35 years$1,652$1,111$728$467$294$46
36 years$1,588$1,055$681$430$267$39
37 years$1,528$1,002$637$396$242$33
38 years$1,472$952$597$365$219$28
39 years$1,418$905$559$337$199$24
40 years$1,367$861$524$310$180$20
41 years$1,319$820$492$286$163$17
42 years$1,273$781$461$264$148$15
43 years$1,230$744$433$244$135$12
44 years$1,188$709$406$225$122$11
45 years$1,149$676$381$208$111$9
46 years$1,111$645$358$192$101$8
47 years$1,075$616$336$178$91$6
48 years$1,041$588$316$164$83$5
49 years$1,008$561$297$152$75$5
50 years$976$536$279$140$69$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,000,000, adding $5,140 every year, while hoping to spend $56,652 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: 54/37/9 Blend
56$1,000,000$1,000,000$1,000,000$1,000,000
57$1,107,302$1,054,302$1,038,802$1,164,359
58$1,159,969$1,045,685$1,013,324$1,194,985
59$1,216,110$1,034,748$985,095$1,221,668
60$1,276,019$1,021,316$953,961$1,249,358
61$1,340,018$1,005,206$919,764$1,278,163
62$1,408,461$986,222$882,337$1,308,202
63$1,481,736$964,159$841,507$1,339,609
64$1,560,268$938,797$797,092$1,372,535
65$1,644,523$909,906$748,902$1,407,152
66$1,735,012$877,239$696,739$1,443,650
67$1,832,298$840,539$640,395$1,482,243
68$1,936,998$799,530$579,653$1,523,172
69$2,049,787$753,923$514,287$1,566,707
70$2,171,411$703,410$444,061$1,613,148
71$2,302,685$647,668$368,727$1,662,834
72$2,444,507$586,352$288,028$1,716,142
73$2,597,864$519,101$201,694$1,773,493
74$2,763,840$445,531$109,445$1,835,357
75$2,943,628$365,237$10,987$1,902,260
76$3,138,536$277,792$0$1,974,787
77$3,350,007$182,744$0$2,062,626
78$3,579,625$79,616$0$2,159,183
79$3,829,133$0$0$2,264,242
80$4,100,450$0$0$2,391,807
81$4,395,684$0$0$2,565,974
82$4,717,157$0$0$2,755,707
83$5,067,424$0$0$2,962,525
84$5,449,295$0$0$3,188,100
85$5,865,864$0$0$3,434,270
86$6,320,537$0$0$3,703,060
87$6,817,061$0$0$3,996,700
88$7,359,564$0$0$4,317,642
89$7,952,587$0$0$4,668,589
90$8,601,133$0$0$5,052,515
91$9,310,708$0$0$5,472,694
92$10,087,375$0$0$5,932,734
93$10,937,813$0$0$6,436,606
94$11,869,373$0$0$6,988,682
95$12,890,153$0$0$7,593,780
96$14,009,071$0$0$8,257,203
97$15,235,949$0$0$8,984,795
98$16,581,604$0$0$9,782,990
99$18,057,950$0$0$10,658,876
100$19,678,112$0$0$11,620,260