Can I retire at age 57 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$87,534$86,754$85,993$85,251$84,526$82,116
2 years$43,334$42,527$41,744$40,986$40,250$37,842
3 years$28,602$27,792$27,011$26,260$25,537$23,204
4 years$21,238$20,430$19,657$18,919$18,213$15,974
5 years$16,820$16,017$15,255$14,532$13,845$11,707
6 years$13,876$13,079$12,328$11,621$10,955$8,919
7 years$11,774$10,984$10,245$9,554$8,909$6,976
8 years$10,199$9,415$8,688$8,015$7,391$5,558
9 years$8,974$8,198$7,483$6,827$6,225$4,491
10 years$7,994$7,226$6,524$5,885$5,304$3,667
11 years$7,193$6,433$5,744$5,122$4,561$3,019
12 years$6,526$5,774$5,097$4,492$3,953$2,502
13 years$5,963$5,218$4,554$3,966$3,447$2,084
14 years$5,480$4,743$4,092$3,521$3,021$1,743
15 years$5,062$4,333$3,695$3,140$2,660$1,463
16 years$4,696$3,975$3,350$2,811$2,351$1,232
17 years$4,374$3,661$3,048$2,526$2,085$1,040
18 years$4,088$3,383$2,782$2,276$1,854$879
19 years$3,832$3,135$2,547$2,057$1,652$745
20 years$3,603$2,913$2,338$1,863$1,476$632
21 years$3,395$2,714$2,150$1,691$1,321$536
22 years$3,206$2,533$1,982$1,537$1,184$456
23 years$3,035$2,369$1,830$1,400$1,063$388
24 years$2,877$2,220$1,692$1,277$955$330
25 years$2,733$2,083$1,567$1,166$859$281
26 years$2,600$1,958$1,454$1,066$774$240
27 years$2,477$1,843$1,350$976$698$204
28 years$2,363$1,736$1,255$894$630$174
29 years$2,256$1,638$1,168$820$569$149
30 years$2,158$1,547$1,088$753$514$127
31 years$2,065$1,462$1,014$691$465$108
32 years$1,979$1,384$946$635$420$92
33 years$1,898$1,310$883$584$380$79
34 years$1,822$1,242$825$537$344$67
35 years$1,751$1,178$772$495$312$58
36 years$1,684$1,118$722$456$283$49
37 years$1,620$1,062$676$420$256$42
38 years$1,560$1,009$633$387$232$36
39 years$1,503$960$593$357$211$31
40 years$1,449$913$556$329$191$26
41 years$1,398$869$521$304$173$22
42 years$1,350$828$489$280$157$19
43 years$1,303$789$459$259$143$16
44 years$1,259$752$430$239$130$14
45 years$1,218$717$404$221$118$12
46 years$1,178$684$380$204$107$10
47 years$1,140$653$357$188$97$9
48 years$1,103$623$335$174$88$7
49 years$1,068$595$315$161$80$6
50 years$1,035$568$296$149$73$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,060,000, adding $2,930 every year, while hoping to spend $40,058 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: 73/16/11 Blend
56$1,060,000$1,060,000$1,060,000$1,060,000
57$1,171,142$1,114,962$1,098,532$1,253,899
58$1,247,977$1,126,974$1,092,712$1,320,989
59$1,331,307$1,138,232$1,085,354$1,389,193
60$1,421,752$1,148,656$1,076,364$1,462,799
61$1,519,993$1,158,163$1,065,645$1,542,330
62$1,626,781$1,166,662$1,053,093$1,628,363
63$1,742,942$1,174,058$1,038,601$1,721,534
64$1,869,384$1,180,248$1,022,056$1,822,544
65$2,007,106$1,185,125$1,003,339$1,932,165
66$2,157,207$1,188,572$982,327$2,051,249
67$2,320,897$1,190,468$958,891$2,180,733
68$2,499,509$1,190,682$932,894$2,321,653
69$2,694,509$1,189,075$904,196$2,475,148
70$2,907,511$1,185,501$872,648$2,642,475
71$3,140,291$1,179,804$838,096$2,825,020
72$3,394,805$1,171,819$800,376$3,024,311
73$3,673,207$1,161,370$759,321$3,242,031
74$3,977,868$1,148,271$714,752$3,480,037
75$4,311,399$1,132,325$666,485$3,740,376
76$4,676,676$1,113,323$614,326$4,025,303
77$5,076,865$1,091,044$558,074$4,337,306
78$5,515,452$1,065,253$497,517$4,679,128
79$5,996,280$1,035,701$432,435$5,053,790
80$6,523,576$1,002,127$362,598$5,464,626
81$7,102,001$964,251$287,765$5,915,309
82$7,736,685$921,779$207,685$6,409,890
83$8,433,281$874,400$122,096$6,952,834
84$9,198,014$821,784$30,725$7,549,064
85$10,037,743$763,583$0$8,204,005
86$10,960,023$699,429$0$8,931,478
87$11,973,175$628,931$0$9,734,598
88$13,086,369$551,679$0$10,617,061
89$14,309,705$467,237$0$11,586,918
90$15,654,309$375,146$0$12,653,045
91$17,132,441$274,921$0$13,825,221
92$18,757,606$166,048$0$15,114,225
93$20,544,685$47,987$0$16,531,935
94$22,510,070$0$0$18,091,446
95$24,671,824$0$0$19,821,239
96$27,049,847$0$0$21,733,437
97$29,666,066$0$0$23,837,227
98$32,544,638$0$0$26,152,044
99$35,712,184$0$0$28,699,300
100$39,198,030$0$0$31,502,587