Can I retire at age 57 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$88,360$87,573$86,805$86,055$85,323$83,328
2 years$43,742$42,928$42,138$41,373$40,630$38,632
3 years$28,872$28,054$27,266$26,508$25,777$23,838
4 years$21,438$20,622$19,843$19,097$18,385$16,519
5 years$16,979$16,168$15,399$14,669$13,976$12,189
6 years$14,007$13,203$12,445$11,731$11,059$9,352
7 years$11,885$11,088$10,341$9,644$8,994$7,369
8 years$10,295$9,504$8,770$8,090$7,461$5,917
9 years$9,058$8,275$7,554$6,891$6,283$4,818
10 years$8,070$7,294$6,586$5,940$5,354$3,966
11 years$7,261$6,493$5,798$5,170$4,604$3,292
12 years$6,588$5,828$5,146$4,535$3,990$2,752
13 years$6,019$5,267$4,597$4,003$3,479$2,312
14 years$5,531$4,788$4,131$3,554$3,050$1,952
15 years$5,109$4,373$3,729$3,169$2,685$1,653
16 years$4,741$4,013$3,381$2,838$2,373$1,405
17 years$4,415$3,695$3,077$2,550$2,104$1,197
18 years$4,127$3,415$2,809$2,298$1,871$1,022
19 years$3,869$3,165$2,571$2,076$1,668$874
20 years$3,637$2,941$2,360$1,880$1,490$748
21 years$3,427$2,739$2,171$1,707$1,333$642
22 years$3,237$2,557$2,000$1,552$1,195$551
23 years$3,063$2,392$1,847$1,413$1,073$474
24 years$2,904$2,241$1,708$1,289$964$407
25 years$2,759$2,103$1,582$1,177$868$351
26 years$2,624$1,976$1,467$1,076$781$302
27 years$2,500$1,860$1,363$985$705$260
28 years$2,385$1,753$1,267$903$636$224
29 years$2,278$1,653$1,179$828$574$193
30 years$2,178$1,561$1,098$760$519$167
31 years$2,085$1,476$1,024$698$469$144
32 years$1,998$1,397$955$641$424$124
33 years$1,916$1,323$892$590$384$107
34 years$1,840$1,254$833$543$348$93
35 years$1,767$1,189$779$499$315$80
36 years$1,699$1,129$729$460$285$69
37 years$1,635$1,072$682$424$259$60
38 years$1,575$1,019$639$391$234$51
39 years$1,517$969$598$360$213$44
40 years$1,463$922$561$332$193$38
41 years$1,411$877$526$306$175$33
42 years$1,362$835$493$283$159$29
43 years$1,316$796$463$261$144$25
44 years$1,271$759$435$241$131$21
45 years$1,229$724$408$223$119$19
46 years$1,189$690$383$206$108$16
47 years$1,150$659$360$190$98$14
48 years$1,113$629$338$176$89$12
49 years$1,078$600$318$162$81$10
50 years$1,045$574$299$150$73$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,070,000, adding $6,758 every year, while hoping to spend $37,971 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: 31/49/20 Blend
56$1,070,000$1,070,000$1,070,000$1,070,000
57$1,186,111$1,129,401$1,112,816$1,215,307
58$1,266,693$1,144,341$1,109,694$1,252,822
59$1,354,223$1,158,740$1,105,196$1,289,275
60$1,449,367$1,172,532$1,099,234$1,327,717
61$1,552,862$1,185,646$1,091,718$1,368,344
62$1,665,517$1,198,005$1,082,553$1,411,375
63$1,788,222$1,209,530$1,071,641$1,457,052
64$1,921,957$1,220,133$1,058,877$1,505,643
65$2,067,800$1,229,723$1,044,153$1,557,447
66$2,226,938$1,238,202$1,027,354$1,612,796
67$2,400,677$1,245,465$1,008,362$1,672,058
68$2,590,454$1,251,401$987,050$1,735,641
69$2,797,854$1,255,893$963,290$1,803,999
70$3,024,619$1,258,815$936,943$1,877,634
71$3,272,667$1,260,034$907,868$1,957,103
72$3,544,111$1,259,408$875,914$2,043,026
73$3,841,278$1,256,787$840,925$2,136,087
74$4,166,729$1,252,010$802,737$2,237,046
75$4,523,287$1,244,910$761,179$2,346,744
76$4,914,057$1,235,305$716,074$2,466,113
77$5,342,461$1,223,006$667,233$2,596,185
78$5,812,269$1,207,810$614,462$2,738,105
79$6,327,631$1,189,503$557,557$2,893,138
80$6,893,118$1,167,858$496,304$3,062,686
81$7,513,768$1,142,634$430,482$3,248,298
82$8,195,126$1,113,578$359,857$3,451,693
83$8,943,305$1,080,418$284,188$3,674,767
84$9,765,034$1,042,871$203,220$3,919,623
85$10,667,729$1,000,633$116,690$4,188,583
86$11,659,559$953,386$24,321$4,484,217
87$12,749,523$900,791$0$4,809,365
88$13,947,535$842,490$0$5,183,016
89$15,264,517$778,105$0$5,599,363
90$16,712,503$707,238$0$6,057,117
91$18,304,750$629,464$0$6,560,588
92$20,055,865$544,338$0$7,114,537
93$21,981,940$451,388$0$7,724,219
94$24,100,707$350,115$0$8,395,433
95$26,431,702$239,993$0$9,134,582
96$28,996,449$120,466$0$9,948,734
97$31,818,664$0$0$10,845,688
98$34,924,480$0$0$11,838,933
99$38,342,688$0$0$13,003,764
100$42,105,015$0$0$14,286,062