Can I retire at age 57 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$85,056$84,299$83,560$82,838$82,134$80,410
2 years$42,107$41,323$40,563$39,826$39,111$37,382
3 years$27,793$27,005$26,247$25,517$24,814$23,134
4 years$20,637$19,852$19,101$18,384$17,697$16,080
5 years$16,344$15,564$14,823$14,120$13,453$11,902
6 years$13,484$12,709$11,979$11,292$10,645$9,163
7 years$11,441$10,673$9,955$9,284$8,657$7,243
8 years$9,910$9,149$8,443$7,788$7,182$5,836
9 years$8,720$7,966$7,272$6,634$6,048$4,770
10 years$7,768$7,021$6,339$5,718$5,154$3,941
11 years$6,990$6,251$5,581$4,977$4,432$3,284
12 years$6,342$5,610$4,953$4,365$3,841$2,756
13 years$5,794$5,070$4,425$3,854$3,349$2,325
14 years$5,325$4,609$3,976$3,421$2,936$1,970
15 years$4,918$4,210$3,590$3,051$2,585$1,676
16 years$4,563$3,863$3,255$2,732$2,285$1,430
17 years$4,250$3,557$2,962$2,454$2,026$1,224
18 years$3,972$3,287$2,704$2,212$1,801$1,049
19 years$3,724$3,046$2,475$1,999$1,605$901
20 years$3,501$2,831$2,272$1,810$1,434$776
21 years$3,299$2,637$2,089$1,643$1,283$668
22 years$3,116$2,461$1,926$1,494$1,150$576
23 years$2,949$2,302$1,778$1,360$1,033$498
24 years$2,796$2,157$1,644$1,241$928$430
25 years$2,655$2,024$1,523$1,133$835$372
26 years$2,526$1,902$1,413$1,036$752$322
27 years$2,407$1,790$1,312$948$678$279
28 years$2,296$1,687$1,219$869$612$241
29 years$2,193$1,592$1,135$797$553$209
30 years$2,097$1,503$1,057$731$499$181
31 years$2,007$1,421$985$672$451$157
32 years$1,923$1,344$919$617$408$136
33 years$1,845$1,273$858$568$370$118
34 years$1,771$1,207$802$522$335$103
35 years$1,701$1,145$750$481$303$89
36 years$1,636$1,086$701$443$275$77
37 years$1,574$1,032$657$408$249$67
38 years$1,516$981$615$376$226$58
39 years$1,461$932$576$347$205$51
40 years$1,408$887$540$320$186$44
41 years$1,359$844$506$295$168$38
42 years$1,311$804$475$272$153$33
43 years$1,266$766$446$251$139$29
44 years$1,224$730$418$232$126$25
45 years$1,183$697$393$214$114$22
46 years$1,144$664$369$198$104$19
47 years$1,107$634$347$183$94$16
48 years$1,072$605$326$169$86$14
49 years$1,038$578$306$156$78$12
50 years$1,006$552$288$144$71$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,030,000, adding $6,667 every year, while hoping to spend $39,865 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: 47/40/13 Blend
56$1,030,000$1,030,000$1,030,000$1,030,000
57$1,141,937$1,087,347$1,071,382$1,191,157
58$1,215,999$1,098,211$1,064,857$1,236,742
59$1,296,278$1,108,271$1,056,778$1,281,554
60$1,383,368$1,117,446$1,047,050$1,329,303
61$1,477,920$1,125,649$1,035,574$1,380,277
62$1,580,649$1,132,787$1,022,247$1,434,795
63$1,692,345$1,138,763$1,006,961$1,493,209
64$1,813,873$1,143,471$989,604$1,555,909
65$1,946,187$1,146,801$970,055$1,623,326
66$2,090,338$1,148,634$948,191$1,695,939
67$2,247,479$1,148,844$923,882$1,774,274
68$2,418,883$1,147,298$896,993$1,858,916
69$2,605,948$1,143,854$867,381$1,950,512
70$2,810,214$1,138,363$834,898$2,049,776
71$3,033,377$1,130,663$799,388$2,157,499
72$3,277,302$1,120,587$760,689$2,274,554
73$3,544,046$1,107,955$718,631$2,401,909
74$3,835,870$1,092,576$673,036$2,540,630
75$4,155,266$1,074,249$623,720$2,691,899
76$4,504,976$1,052,760$570,487$2,857,022
77$4,888,021$1,027,883$513,137$3,037,441
78$5,307,729$999,379$451,456$3,234,750
79$5,767,762$966,994$385,225$3,450,711
80$6,272,156$930,459$314,212$3,687,270
81$6,825,355$889,490$238,178$3,946,578
82$7,432,254$843,787$156,869$4,231,010
83$8,098,243$793,032$70,024$4,543,190
84$8,829,262$736,890$0$4,886,016
85$9,631,853$675,003$0$5,265,833
86$10,513,221$606,998$0$5,693,601
87$11,481,305$532,476$0$6,163,542
88$12,544,849$451,018$0$6,680,009
89$13,713,487$362,181$0$7,247,805
90$14,997,831$265,496$0$7,872,231
91$16,409,573$160,469$0$8,559,135
92$17,961,596$46,578$0$9,314,968
93$19,668,089$0$0$10,146,850
94$21,544,688$0$0$11,096,407
95$23,608,620$0$0$12,163,433
96$25,878,864$0$0$13,337,254
97$28,376,331$0$0$14,628,699
98$31,124,061$0$0$16,049,699
99$34,147,439$0$0$17,613,401
100$37,474,437$0$0$19,334,289