Can I retire at age 57 with 1,020,000?

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 $1,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$84,231$83,480$82,748$82,034$81,336$79,241
2 years$41,698$40,922$40,169$39,439$38,732$36,635
3 years$27,523$26,743$25,992$25,269$24,573$22,540
4 years$20,436$19,659$18,916$18,205$17,526$15,572
5 years$16,186$15,413$14,679$13,983$13,323$11,454
6 years$13,353$12,586$11,863$11,182$10,542$8,760
7 years$11,330$10,569$9,858$9,194$8,573$6,879
8 years$9,814$9,060$8,361$7,712$7,112$5,504
9 years$8,635$7,888$7,201$6,569$5,990$4,466
10 years$7,692$6,953$6,278$5,663$5,103$3,662
11 years$6,922$6,190$5,527$4,928$4,389$3,029
12 years$6,280$5,556$4,905$4,323$3,804$2,521
13 years$5,738$5,021$4,382$3,816$3,317$2,110
14 years$5,273$4,564$3,938$3,388$2,907$1,774
15 years$4,871$4,169$3,555$3,021$2,560$1,496
16 years$4,519$3,825$3,223$2,705$2,262$1,266
17 years$4,209$3,523$2,933$2,431$2,006$1,074
18 years$3,934$3,255$2,677$2,190$1,784$913
19 years$3,688$3,017$2,451$1,979$1,590$777
20 years$3,467$2,803$2,249$1,793$1,420$663
21 years$3,267$2,611$2,069$1,627$1,271$566
22 years$3,085$2,438$1,907$1,479$1,139$483
23 years$2,920$2,280$1,761$1,347$1,023$414
24 years$2,769$2,136$1,628$1,229$919$354
25 years$2,630$2,005$1,508$1,122$827$303
26 years$2,502$1,884$1,399$1,026$745$260
27 years$2,383$1,773$1,299$939$672$223
28 years$2,273$1,671$1,208$860$606$191
29 years$2,171$1,576$1,124$789$547$164
30 years$2,076$1,488$1,047$724$494$141
31 years$1,988$1,407$976$665$447$121
32 years$1,905$1,331$910$611$404$104
33 years$1,827$1,261$850$562$366$89
34 years$1,754$1,195$794$517$331$77
35 years$1,685$1,133$743$476$300$66
36 years$1,620$1,076$695$438$272$57
37 years$1,559$1,022$650$404$246$49
38 years$1,501$971$609$372$223$42
39 years$1,446$923$570$343$203$36
40 years$1,395$879$535$317$184$31
41 years$1,345$836$501$292$167$27
42 years$1,299$796$470$270$151$23
43 years$1,254$759$441$249$137$20
44 years$1,212$723$414$230$125$17
45 years$1,172$690$389$212$113$14
46 years$1,133$658$365$196$103$12
47 years$1,097$628$343$181$93$11
48 years$1,061$599$323$167$85$9
49 years$1,028$572$303$155$77$8
50 years$996$547$285$143$70$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,020,000, adding $5,887 every year, while hoping to spend $20,456 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: 42/32/26 Blend
56$1,020,000$1,020,000$1,020,000$1,020,000
57$1,130,112$1,076,052$1,060,242$1,168,760
58$1,223,619$1,107,014$1,073,996$1,227,999
59$1,325,977$1,138,807$1,087,524$1,289,728
60$1,438,069$1,171,451$1,100,798$1,356,181
61$1,560,865$1,204,965$1,113,787$1,427,805
62$1,695,434$1,239,368$1,126,460$1,505,093
63$1,842,952$1,274,681$1,138,780$1,588,587
64$2,004,716$1,310,924$1,150,713$1,678,885
65$2,182,155$1,348,117$1,162,219$1,776,643
66$2,376,841$1,386,281$1,173,259$1,882,586
67$2,590,506$1,425,436$1,183,791$1,997,511
68$2,825,058$1,465,603$1,193,769$2,122,296
69$3,082,600$1,506,803$1,203,146$2,257,910
70$3,365,447$1,549,058$1,211,873$2,405,417
71$3,676,150$1,592,389$1,219,898$2,565,991
72$4,017,518$1,636,817$1,227,165$2,740,925
73$4,392,647$1,682,363$1,233,617$2,931,644
74$4,804,948$1,729,050$1,239,194$3,139,717
75$5,258,177$1,776,898$1,243,832$3,366,873
76$5,756,474$1,825,929$1,247,464$3,615,018
77$6,304,399$1,876,165$1,250,018$3,886,249
78$6,906,977$1,927,626$1,251,423$4,182,881
79$7,569,743$1,980,334$1,251,600$4,507,462
80$8,298,796$2,034,309$1,250,468$4,862,800
81$9,100,856$2,089,573$1,247,941$5,251,988
82$9,983,327$2,146,146$1,243,931$5,678,438
83$10,954,367$2,204,047$1,238,343$6,145,906
84$12,022,964$2,263,297$1,231,079$6,658,533
85$13,199,022$2,323,915$1,222,036$7,220,881
86$14,493,455$2,385,919$1,211,107$7,837,979
87$15,918,285$2,449,327$1,198,177$8,515,369
88$17,486,763$2,514,158$1,183,129$9,259,155
89$19,213,488$2,580,426$1,165,839$10,076,068
90$21,114,545$2,648,148$1,146,176$10,973,523
91$23,207,661$2,717,340$1,124,005$11,959,694
92$25,512,366$2,788,013$1,099,183$13,043,586
93$28,050,184$2,860,182$1,071,562$14,235,125
94$30,844,829$2,933,857$1,040,985$15,545,250
95$33,922,433$3,009,048$1,007,290$16,986,015
96$37,311,794$3,085,764$970,307$18,570,706
97$41,044,641$3,164,010$929,856$20,313,963
98$45,155,940$3,243,793$885,752$22,231,922
99$49,684,222$3,325,115$837,801$24,342,364
100$54,671,943$3,407,976$785,798$26,664,886