Can I retire at age 57 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$100,746$99,849$98,974$98,119$97,285$93,982
2 years$49,874$48,946$48,045$47,173$46,326$43,032
3 years$32,919$31,987$31,089$30,224$29,391$26,209
4 years$24,443$23,513$22,625$21,775$20,962$17,916
5 years$19,359$18,435$17,558$16,725$15,935$13,033
6 years$15,971$15,053$14,189$13,375$12,609$9,854
7 years$13,552$12,642$11,791$10,996$10,254$7,645
8 years$11,738$10,836$10,000$9,225$8,507$6,042
9 years$10,328$9,435$8,613$7,857$7,164$4,840
10 years$9,201$8,317$7,509$6,773$6,104$3,918
11 years$8,279$7,404$6,611$5,895$5,250$3,196
12 years$7,512$6,645$5,867$5,170$4,549$2,624
13 years$6,863$6,005$5,242$4,565$3,967$2,165
14 years$6,307$5,459$4,710$4,052$3,478$1,794
15 years$5,826$4,987$4,252$3,614$3,062$1,491
16 years$5,405$4,575$3,855$3,236$2,706$1,243
17 years$5,034$4,213$3,508$2,907$2,399$1,038
18 years$4,705$3,893$3,202$2,620$2,133$869
19 years$4,411$3,608$2,932$2,367$1,902$728
20 years$4,146$3,353$2,691$2,144$1,699$611
21 years$3,907$3,123$2,475$1,946$1,520$513
22 years$3,690$2,915$2,281$1,769$1,362$431
23 years$3,493$2,727$2,106$1,611$1,223$363
24 years$3,312$2,555$1,948$1,470$1,099$306
25 years$3,145$2,398$1,804$1,342$989$257
26 years$2,992$2,253$1,673$1,227$891$217
27 years$2,850$2,121$1,554$1,123$803$183
28 years$2,719$1,998$1,444$1,029$725$154
29 years$2,597$1,885$1,344$944$655$130
30 years$2,483$1,780$1,252$866$591$110
31 years$2,377$1,683$1,167$795$535$93
32 years$2,278$1,592$1,089$731$484$78
33 years$2,185$1,508$1,017$672$438$66
34 years$2,097$1,429$950$619$396$56
35 years$2,015$1,356$888$569$359$47
36 years$1,938$1,287$831$524$325$40
37 years$1,864$1,222$778$483$295$33
38 years$1,795$1,161$728$445$267$28
39 years$1,730$1,104$682$411$242$24
40 years$1,668$1,051$640$379$220$20
41 years$1,609$1,000$600$349$199$17
42 years$1,553$953$563$323$181$14
43 years$1,500$908$528$298$164$12
44 years$1,450$865$495$275$149$10
45 years$1,401$825$465$254$135$9
46 years$1,355$787$437$234$123$7
47 years$1,312$751$411$217$112$6
48 years$1,270$717$386$200$101$5
49 years$1,230$685$363$185$92$4
50 years$1,191$654$341$171$84$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,220,000, adding $2,763 every year, while hoping to spend $23,759 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: 44/42/14 Blend
56$1,220,000$1,220,000$1,220,000$1,220,000
57$1,347,290$1,282,630$1,263,720$1,401,023
58$1,459,434$1,320,200$1,280,775$1,476,393
59$1,582,221$1,358,814$1,297,606$1,555,433
60$1,716,710$1,398,498$1,314,178$1,640,584
61$1,864,070$1,439,280$1,330,459$1,732,419
62$2,025,587$1,481,187$1,346,411$1,831,568
63$2,202,677$1,524,245$1,361,996$1,938,724
64$2,396,901$1,568,484$1,377,173$2,054,651
65$2,609,976$1,613,931$1,391,900$2,180,188
66$2,843,795$1,660,615$1,406,130$2,316,259
67$3,100,444$1,708,566$1,419,817$2,463,881
68$3,382,218$1,757,815$1,432,909$2,624,174
69$3,691,647$1,808,391$1,445,355$2,798,369
70$4,031,517$1,860,324$1,457,097$2,987,824
71$4,404,899$1,913,648$1,468,077$3,194,032
72$4,815,175$1,968,392$1,478,233$3,418,639
73$5,266,069$2,024,590$1,487,500$3,663,455
74$5,761,686$2,082,273$1,495,810$3,930,476
75$6,306,549$2,141,475$1,503,090$4,221,897
76$6,905,638$2,202,228$1,509,265$4,540,138
77$7,564,443$2,264,567$1,514,255$4,887,864
78$8,289,010$2,328,525$1,517,976$5,268,010
79$9,086,003$2,394,136$1,520,342$5,683,809
80$9,962,761$2,461,435$1,521,260$6,138,822
81$10,927,374$2,530,456$1,520,633$6,636,973
82$11,988,752$2,601,234$1,518,360$7,182,582
83$13,156,714$2,673,804$1,514,334$7,780,412
84$14,442,079$2,748,201$1,508,445$8,435,706
85$15,856,768$2,824,460$1,500,575$9,154,245
86$17,413,915$2,902,616$1,490,601$9,942,395
87$19,127,994$2,982,703$1,478,396$10,807,170
88$21,014,952$3,064,758$1,463,824$11,756,298
89$23,092,360$3,148,814$1,446,745$12,798,296
90$25,379,581$3,234,906$1,427,012$13,942,545
91$27,897,950$3,323,069$1,404,469$15,199,383
92$30,670,978$3,413,335$1,378,954$16,580,202
93$33,724,568$3,505,739$1,350,300$18,097,553
94$37,087,266$3,600,313$1,318,327$19,765,264
95$40,790,528$3,697,089$1,282,852$21,598,577
96$44,869,014$3,796,098$1,243,679$23,614,283
97$49,360,917$3,897,371$1,200,607$25,830,885
98$54,308,326$4,000,938$1,153,422$28,268,774
99$59,757,617$4,106,825$1,101,904$30,950,417
100$65,759,896$4,215,062$1,045,819$33,900,573