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%14.5%
1 years$82,579$81,843$81,126$80,425$79,741$78,259
2 years$40,881$40,119$39,381$38,666$37,972$36,485
3 years$26,983$26,218$25,482$24,774$24,091$22,644
4 years$20,036$19,273$18,545$17,848$17,182$15,787
5 years$15,868$15,111$14,391$13,709$13,061$11,723
6 years$13,091$12,339$11,630$10,963$10,335$9,054
7 years$11,108$10,362$9,665$9,013$8,405$7,182
8 years$9,621$8,882$8,197$7,561$6,973$5,807
9 years$8,466$7,734$7,060$6,440$5,872$4,763
10 years$7,542$6,817$6,155$5,552$5,003$3,950
11 years$6,786$6,069$5,419$4,832$4,303$3,304
12 years$6,157$5,447$4,809$4,238$3,729$2,783
13 years$5,625$4,922$4,296$3,742$3,252$2,357
14 years$5,170$4,474$3,860$3,321$2,850$2,006
15 years$4,775$4,087$3,485$2,962$2,510$1,714
16 years$4,430$3,750$3,160$2,652$2,218$1,468
17 years$4,126$3,454$2,875$2,383$1,967$1,262
18 years$3,857$3,191$2,625$2,148$1,749$1,087
19 years$3,615$2,958$2,403$1,940$1,559$938
20 years$3,399$2,748$2,205$1,757$1,392$811
21 years$3,203$2,560$2,029$1,595$1,246$702
22 years$3,025$2,390$1,870$1,450$1,117$608
23 years$2,863$2,235$1,726$1,321$1,002$527
24 years$2,714$2,094$1,596$1,205$901$458
25 years$2,578$1,965$1,479$1,100$811$398
26 years$2,453$1,847$1,371$1,006$730$346
27 years$2,336$1,738$1,273$921$658$301
28 years$2,229$1,638$1,184$844$594$262
29 years$2,129$1,545$1,102$774$537$228
30 years$2,036$1,459$1,026$710$485$199
31 years$1,949$1,380$957$652$438$173
32 years$1,867$1,305$893$599$396$151
33 years$1,791$1,236$833$551$359$132
34 years$1,719$1,172$779$507$325$115
35 years$1,652$1,111$728$467$294$100
36 years$1,588$1,055$681$430$267$87
37 years$1,528$1,002$637$396$242$76
38 years$1,472$952$597$365$219$67
39 years$1,418$905$559$337$199$58
40 years$1,367$861$524$310$180$51
41 years$1,319$820$492$286$163$44
42 years$1,273$781$461$264$148$39
43 years$1,230$744$433$244$135$34
44 years$1,188$709$406$225$122$29
45 years$1,149$676$381$208$111$26
46 years$1,111$645$358$192$101$22
47 years$1,075$616$336$178$91$20
48 years$1,041$588$316$164$83$17
49 years$1,008$561$297$152$75$15
50 years$976$536$279$140$69$13

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 $6,935 every year, while hoping to spend $25,325 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: 80/9/11 Blend
56$1,000,000$1,000,000$1,000,000$1,000,000
57$1,109,153$1,056,153$1,040,653$1,195,206
58$1,195,342$1,080,959$1,048,570$1,277,490
59$1,289,472$1,106,132$1,055,902$1,363,762
60$1,392,328$1,131,663$1,062,605$1,457,691
61$1,504,773$1,157,541$1,068,630$1,560,031
62$1,627,755$1,183,756$1,073,924$1,671,612
63$1,762,320$1,210,295$1,078,435$1,793,350
64$1,909,620$1,237,142$1,082,106$1,926,250
65$2,070,923$1,264,283$1,084,878$2,071,424
66$2,247,623$1,291,700$1,086,687$2,230,092
67$2,441,259$1,319,371$1,087,470$2,403,600
68$2,653,524$1,347,277$1,087,157$2,593,433
69$2,886,283$1,375,393$1,085,676$2,801,223
70$3,141,589$1,403,692$1,082,951$3,028,769
71$3,421,705$1,432,147$1,078,904$3,278,056
72$3,729,122$1,460,726$1,073,450$3,551,268
73$4,066,586$1,489,394$1,066,504$3,850,810
74$4,437,119$1,518,116$1,057,974$4,179,335
75$4,844,053$1,546,852$1,047,763$4,539,765
76$5,291,056$1,575,557$1,035,773$4,935,319
77$5,782,170$1,604,185$1,021,897$5,369,543
78$6,321,847$1,632,686$1,006,027$5,846,346
79$6,914,993$1,661,005$988,046$6,370,035
80$7,567,012$1,689,084$967,835$6,945,354
81$8,283,858$1,716,860$945,268$7,577,533
82$9,072,089$1,744,264$920,213$8,272,332
83$9,938,934$1,771,225$892,532$9,036,101
84$10,892,354$1,797,663$862,080$9,875,835
85$11,941,121$1,823,496$828,707$10,799,244
86$13,094,902$1,848,634$792,255$11,814,822
87$14,364,346$1,872,981$752,560$12,931,931
88$15,761,186$1,896,434$709,448$14,160,886
89$17,298,353$1,918,885$662,739$15,513,054
90$18,990,090$1,940,215$612,246$17,000,962
91$20,852,094$1,960,301$557,772$18,638,414
92$22,901,661$1,979,009$499,111$20,440,622
93$25,157,848$1,996,197$436,048$22,424,348
94$27,641,652$2,011,715$368,359$24,608,065
95$30,376,212$2,025,400$295,810$27,012,129
96$33,387,022$2,037,082$218,157$29,658,975
97$36,702,178$2,046,578$135,145$32,573,323
98$40,352,634$2,053,695$46,506$35,782,415
99$44,372,502$2,058,225$0$39,316,274
100$48,799,369$2,059,950$0$43,213,626