Can I retire at age 57 with 1,190,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$98,269$97,394$96,540$95,706$94,892$91,525
2 years$48,648$47,742$46,864$46,013$45,187$41,831
3 years$32,110$31,200$30,324$29,481$28,668$25,428
4 years$23,842$22,935$22,068$21,239$20,447$17,347
5 years$18,883$17,982$17,126$16,314$15,543$12,593
6 years$15,578$14,683$13,840$13,046$12,299$9,500
7 years$13,218$12,331$11,501$10,726$10,002$7,354
8 years$11,449$10,570$9,754$8,998$8,298$5,798
9 years$10,074$9,203$8,401$7,664$6,988$4,634
10 years$8,975$8,112$7,324$6,607$5,954$3,741
11 years$8,076$7,222$6,448$5,750$5,121$3,044
12 years$7,327$6,482$5,723$5,043$4,437$2,493
13 years$6,694$5,858$5,113$4,452$3,870$2,051
14 years$6,152$5,324$4,594$3,952$3,392$1,695
15 years$5,682$4,864$4,148$3,525$2,987$1,405
16 years$5,272$4,463$3,760$3,156$2,640$1,167
17 years$4,910$4,110$3,422$2,836$2,340$972
18 years$4,589$3,798$3,124$2,556$2,081$811
19 years$4,302$3,520$2,860$2,309$1,855$678
20 years$4,044$3,271$2,624$2,091$1,657$567
21 years$3,811$3,046$2,414$1,898$1,483$475
22 years$3,600$2,844$2,225$1,726$1,329$398
23 years$3,407$2,660$2,054$1,572$1,193$334
24 years$3,230$2,492$1,900$1,433$1,072$280
25 years$3,068$2,339$1,760$1,309$965$235
26 years$2,919$2,198$1,632$1,197$869$197
27 years$2,780$2,069$1,515$1,096$784$166
28 years$2,652$1,949$1,409$1,004$707$139
29 years$2,533$1,839$1,311$921$638$117
30 years$2,422$1,737$1,221$845$577$99
31 years$2,319$1,642$1,138$776$522$83
32 years$2,222$1,553$1,062$713$472$70
33 years$2,131$1,471$992$656$427$59
34 years$2,046$1,394$927$603$387$49
35 years$1,966$1,322$866$555$350$42
36 years$1,890$1,255$810$512$317$35
37 years$1,819$1,192$759$471$288$29
38 years$1,751$1,133$710$434$261$25
39 years$1,687$1,077$666$401$236$21
40 years$1,627$1,025$624$369$214$18
41 years$1,570$976$585$341$195$15
42 years$1,515$929$549$315$176$12
43 years$1,463$885$515$290$160$10
44 years$1,414$844$483$268$145$9
45 years$1,367$805$454$248$132$7
46 years$1,322$768$426$229$120$6
47 years$1,279$733$400$211$109$5
48 years$1,238$699$376$195$99$4
49 years$1,199$668$354$180$90$4
50 years$1,162$638$333$167$82$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,190,000, adding $4,246 every year, while hoping to spend $28,594 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: 45/39/16 Blend
56$1,190,000$1,190,000$1,190,000$1,190,000
57$1,315,760$1,252,690$1,234,245$1,368,760
58$1,419,543$1,283,648$1,245,168$1,437,147
59$1,532,955$1,315,164$1,255,499$1,508,057
60$1,656,945$1,347,237$1,265,188$1,584,337
61$1,792,564$1,379,861$1,274,181$1,666,495
62$1,940,963$1,413,032$1,282,424$1,755,094
63$2,103,414$1,446,743$1,289,858$1,850,751
64$2,281,316$1,480,988$1,296,422$1,954,147
65$2,476,210$1,515,756$1,302,052$2,066,030
66$2,689,792$1,551,036$1,306,679$2,187,229
67$2,923,931$1,586,818$1,310,234$2,318,651
68$3,180,686$1,623,085$1,312,640$2,461,300
69$3,462,322$1,659,823$1,313,820$2,616,281
70$3,771,338$1,697,013$1,313,692$2,784,810
71$4,110,483$1,734,635$1,312,169$2,968,230
72$4,482,786$1,772,667$1,309,161$3,168,017
73$4,891,585$1,811,082$1,304,572$3,385,802
74$5,340,556$1,849,854$1,298,304$3,623,379
75$5,833,747$1,888,951$1,290,252$3,882,727
76$6,375,620$1,928,341$1,280,306$4,166,026
77$6,971,089$1,967,985$1,268,353$4,475,680
78$7,625,569$2,007,845$1,254,271$4,814,336
79$8,345,023$2,047,876$1,237,935$5,184,915
80$9,136,024$2,088,030$1,219,214$5,590,633
81$10,005,810$2,128,256$1,197,970$6,035,038
82$10,962,360$2,168,497$1,174,059$6,522,037
83$12,014,459$2,208,692$1,147,329$7,055,940
84$13,171,792$2,248,777$1,117,623$7,641,494
85$14,445,027$2,288,678$1,084,775$8,283,935
86$15,845,917$2,328,321$1,048,613$8,989,031
87$17,387,415$2,367,623$1,008,955$9,763,141
88$19,083,789$2,406,494$965,613$10,613,274
89$20,950,764$2,444,841$918,389$11,547,157
90$23,005,664$2,482,560$867,077$12,573,304
91$25,267,577$2,519,541$811,460$13,701,102
92$27,757,539$2,555,668$751,313$14,940,896
93$30,498,727$2,590,814$686,401$16,304,089
94$33,516,678$2,624,845$616,476$17,803,250
95$36,839,533$2,657,616$541,281$19,452,232
96$40,498,300$2,688,974$460,549$21,266,306
97$44,527,146$2,718,754$373,998$23,262,302
98$48,963,723$2,746,781$281,335$25,458,770
99$53,849,518$2,772,867$182,254$27,876,157
100$59,230,245$2,796,814$76,436$30,536,999