Can I retire at age 57 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$89,185$88,391$87,616$86,859$86,121$85,292
2 years$44,151$43,329$42,532$41,759$41,010$40,175
3 years$29,142$28,316$27,521$26,756$26,018$25,204
4 years$21,638$20,815$20,028$19,276$18,557$17,768
5 years$17,138$16,319$15,543$14,806$14,106$13,346
6 years$14,138$13,326$12,561$11,840$11,162$10,431
7 years$11,997$11,191$10,438$9,735$9,078$8,376
8 years$10,391$9,593$8,852$8,166$7,531$6,859
9 years$9,143$8,352$7,625$6,956$6,342$5,700
10 years$8,145$7,362$6,647$5,996$5,404$4,790
11 years$7,329$6,554$5,852$5,218$4,647$4,062
12 years$6,650$5,883$5,194$4,577$4,027$3,470
13 years$6,075$5,316$4,640$4,041$3,512$2,982
14 years$5,583$4,832$4,169$3,587$3,078$2,575
15 years$5,157$4,414$3,764$3,199$2,711$2,233
16 years$4,785$4,050$3,413$2,864$2,396$1,943
17 years$4,457$3,730$3,106$2,574$2,124$1,696
18 years$4,165$3,447$2,835$2,319$1,889$1,484
19 years$3,905$3,194$2,595$2,096$1,683$1,301
20 years$3,671$2,968$2,382$1,898$1,504$1,143
21 years$3,459$2,765$2,191$1,723$1,346$1,006
22 years$3,267$2,581$2,019$1,566$1,206$887
23 years$3,092$2,414$1,864$1,426$1,083$782
24 years$2,932$2,262$1,724$1,301$973$691
25 years$2,784$2,122$1,597$1,188$876$611
26 years$2,649$1,995$1,481$1,086$789$540
27 years$2,523$1,877$1,375$994$711$479
28 years$2,407$1,769$1,279$911$642$424
29 years$2,299$1,669$1,190$835$579$376
30 years$2,198$1,576$1,108$767$524$333
31 years$2,104$1,490$1,033$704$473$296
32 years$2,017$1,410$964$647$428$263
33 years$1,934$1,335$900$595$387$233
34 years$1,857$1,265$841$548$351$207
35 years$1,784$1,200$786$504$318$184
36 years$1,715$1,139$736$464$288$164
37 years$1,651$1,082$688$428$261$145
38 years$1,589$1,028$645$394$237$129
39 years$1,531$978$604$364$215$115
40 years$1,477$930$566$335$195$102
41 years$1,424$885$531$309$177$91
42 years$1,375$843$498$285$160$81
43 years$1,328$803$467$264$145$72
44 years$1,283$766$439$243$132$64
45 years$1,241$730$412$225$120$57
46 years$1,200$697$387$208$109$51
47 years$1,161$665$363$192$99$45
48 years$1,124$635$341$177$90$40
49 years$1,088$606$321$164$81$36
50 years$1,054$579$302$151$74$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,080,000, adding $6,831 every year, while hoping to spend $44,601 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: 48/39/13 Blend
56$1,080,000$1,080,000$1,080,000$1,080,000
57$1,197,206$1,139,966$1,123,226$1,250,046
58$1,271,866$1,148,369$1,113,399$1,295,603
59$1,352,646$1,155,690$1,101,748$1,339,871
60$1,440,125$1,161,826$1,088,165$1,386,940
61$1,534,935$1,166,674$1,072,536$1,437,090
62$1,637,775$1,170,118$1,054,743$1,490,625
63$1,749,413$1,172,038$1,034,662$1,547,887
64$1,870,692$1,172,307$1,012,162$1,609,253
65$2,002,542$1,170,789$987,108$1,675,139
66$2,145,982$1,167,339$959,357$1,746,008
67$2,302,138$1,161,804$928,761$1,822,372
68$2,472,245$1,154,022$895,164$1,904,797
69$2,657,665$1,143,820$858,403$1,993,912
70$2,859,896$1,131,015$818,308$2,090,411
71$3,080,585$1,115,415$774,701$2,195,062
72$3,321,547$1,096,813$727,396$2,308,717
73$3,584,780$1,074,991$676,199$2,432,318
74$3,872,482$1,049,720$620,906$2,566,906
75$4,187,074$1,020,756$561,306$2,713,633
76$4,531,222$987,840$497,176$2,873,775
77$4,907,861$950,698$428,286$3,048,740
78$5,320,222$909,042$354,393$3,240,088
79$5,771,865$862,565$275,245$3,449,542
80$6,266,708$810,943$190,578$3,679,008
81$6,809,068$753,835$100,118$3,930,591
82$7,403,698$690,878$3,577$4,206,620
83$8,055,833$621,689$0$4,509,668
84$8,771,240$545,864$0$4,856,371
85$9,556,271$462,975$0$5,237,503
86$10,417,921$372,572$0$5,656,083
87$11,363,897$274,176$0$6,115,991
88$12,402,689$167,285$0$6,621,512
89$13,543,646$51,365$0$7,177,375
90$14,797,072$0$0$7,788,798
91$16,174,315$0$0$8,493,361
92$17,687,876$0$0$9,292,014
93$19,351,530$0$0$10,170,000
94$21,180,450$0$0$11,135,340
95$23,191,355$0$0$12,196,878
96$25,402,663$0$0$13,364,353
97$27,834,666$0$0$14,648,498
98$30,509,723$0$0$16,061,136
99$33,452,468$0$0$17,615,295
100$36,690,041$0$0$19,325,331