Can I retire at age 57 with 1,040,000?

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 $1,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$85,882$85,117$84,371$83,642$82,931$80,373
2 years$42,516$41,724$40,957$40,213$39,491$36,936
3 years$28,062$27,267$26,502$25,765$25,055$22,583
4 years$20,837$20,044$19,286$18,562$17,869$15,500
5 years$16,503$15,715$14,967$14,257$13,584$11,323
6 years$13,615$12,832$12,096$11,402$10,748$8,599
7 years$11,552$10,777$10,052$9,374$8,741$6,702
8 years$10,006$9,238$8,524$7,864$7,252$5,322
9 years$8,804$8,043$7,342$6,698$6,107$4,284
10 years$7,843$7,089$6,401$5,774$5,204$3,485
11 years$7,058$6,311$5,635$5,025$4,475$2,858
12 years$6,403$5,665$5,001$4,408$3,878$2,359
13 years$5,850$5,119$4,468$3,891$3,382$1,957
14 years$5,376$4,653$4,015$3,454$2,964$1,630
15 years$4,966$4,251$3,625$3,081$2,610$1,363
16 years$4,608$3,900$3,286$2,758$2,307$1,142
17 years$4,292$3,592$2,991$2,478$2,045$960
18 years$4,011$3,319$2,730$2,233$1,819$808
19 years$3,760$3,076$2,499$2,018$1,621$681
20 years$3,535$2,858$2,294$1,828$1,448$575
21 years$3,331$2,662$2,110$1,659$1,296$486
22 years$3,146$2,485$1,944$1,508$1,161$411
23 years$2,977$2,324$1,795$1,374$1,043$348
24 years$2,823$2,178$1,660$1,253$937$295
25 years$2,681$2,044$1,538$1,144$843$250
26 years$2,551$1,921$1,426$1,046$760$212
27 years$2,430$1,808$1,324$958$685$180
28 years$2,318$1,703$1,231$877$618$153
29 years$2,214$1,607$1,146$805$558$130
30 years$2,117$1,518$1,067$738$504$110
31 years$2,027$1,435$995$678$456$94
32 years$1,942$1,357$928$623$412$79
33 years$1,862$1,286$867$573$373$67
34 years$1,788$1,218$810$527$338$57
35 years$1,718$1,156$757$485$306$49
36 years$1,652$1,097$708$447$277$41
37 years$1,589$1,042$663$412$251$35
38 years$1,530$990$621$380$228$30
39 years$1,475$941$582$350$207$25
40 years$1,422$896$545$323$187$22
41 years$1,372$853$511$298$170$18
42 years$1,324$812$480$275$154$16
43 years$1,279$774$450$254$140$13
44 years$1,236$738$422$234$127$11
45 years$1,195$703$397$216$115$10
46 years$1,155$671$372$200$105$8
47 years$1,118$640$350$185$95$7
48 years$1,082$611$329$171$86$6
49 years$1,048$584$309$158$78$5
50 years$1,015$558$291$146$71$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,040,000, adding $2,340 every year, while hoping to spend $45,733 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: 84/10/6 Blend
56$1,040,000$1,040,000$1,040,000$1,040,000
57$1,148,494$1,093,374$1,077,254$1,244,410
58$1,216,981$1,098,289$1,064,682$1,312,271
59$1,290,920$1,101,913$1,050,157$1,380,337
60$1,370,821$1,104,134$1,033,564$1,453,650
61$1,457,240$1,104,832$1,014,784$1,532,706
62$1,550,792$1,103,882$993,692$1,618,054
63$1,652,151$1,101,151$970,159$1,710,295
64$1,762,059$1,096,496$944,048$1,810,092
65$1,881,331$1,089,766$915,216$1,918,177
66$2,010,865$1,080,802$883,513$2,035,354
67$2,151,646$1,069,435$848,784$2,162,509
68$2,304,761$1,055,484$810,866$2,300,617
69$2,471,404$1,038,760$769,587$2,450,754
70$2,652,888$1,019,060$724,769$2,614,104
71$2,850,659$996,171$676,225$2,791,972
72$3,066,310$969,866$623,762$2,985,795
73$3,301,590$939,907$567,175$3,197,157
74$3,558,429$906,039$506,252$3,427,803
75$3,838,947$867,993$440,770$3,679,654
76$4,145,481$825,487$370,497$3,954,831
77$4,480,604$778,218$295,192$4,255,667
78$4,847,145$725,871$214,601$4,584,734
79$5,248,224$668,109$128,460$4,944,868
80$5,687,273$604,576$36,493$5,339,191
81$6,168,072$534,897$0$5,771,147
82$6,694,785$458,677$0$6,248,476
83$7,271,995$375,495$0$6,774,161
84$7,904,754$284,909$0$7,350,492
85$8,598,620$186,451$0$7,982,567
86$9,359,720$79,627$0$8,676,004
87$10,194,799$0$0$9,436,994
88$11,111,288$0$0$10,276,328
89$12,117,373$0$0$11,207,351
90$13,222,069$0$0$12,229,649
91$14,435,310$0$0$13,352,414
92$15,768,035$0$0$14,585,774
93$17,232,299$0$0$15,940,887
94$18,841,379$0$0$17,430,043
95$20,609,904$0$0$19,066,783
96$22,553,990$0$0$20,866,026
97$24,691,392$0$0$22,844,206
98$27,041,671$0$0$25,019,430
99$29,626,378$0$0$27,411,648
100$32,469,260$0$0$30,042,840