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%13.8%
1 years$100,746$99,849$98,974$98,119$97,285$95,752
2 years$49,874$48,946$48,045$47,173$46,326$44,786
3 years$32,919$31,987$31,089$30,224$29,391$27,891
4 years$24,443$23,513$22,625$21,775$20,962$19,514
5 years$19,359$18,435$17,558$16,725$15,935$14,543
6 years$15,971$15,053$14,189$13,375$12,609$11,275
7 years$13,552$12,642$11,791$10,996$10,254$8,979
8 years$11,738$10,836$10,000$9,225$8,507$7,289
9 years$10,328$9,435$8,613$7,857$7,164$6,004
10 years$9,201$8,317$7,509$6,773$6,104$5,000
11 years$8,279$7,404$6,611$5,895$5,250$4,201
12 years$7,512$6,645$5,867$5,170$4,549$3,555
13 years$6,863$6,005$5,242$4,565$3,967$3,025
14 years$6,307$5,459$4,710$4,052$3,478$2,586
15 years$5,826$4,987$4,252$3,614$3,062$2,220
16 years$5,405$4,575$3,855$3,236$2,706$1,912
17 years$5,034$4,213$3,508$2,907$2,399$1,651
18 years$4,705$3,893$3,202$2,620$2,133$1,429
19 years$4,411$3,608$2,932$2,367$1,902$1,240
20 years$4,146$3,353$2,691$2,144$1,699$1,077
21 years$3,907$3,123$2,475$1,946$1,520$937
22 years$3,690$2,915$2,281$1,769$1,362$816
23 years$3,493$2,727$2,106$1,611$1,223$712
24 years$3,312$2,555$1,948$1,470$1,099$622
25 years$3,145$2,398$1,804$1,342$989$543
26 years$2,992$2,253$1,673$1,227$891$475
27 years$2,850$2,121$1,554$1,123$803$416
28 years$2,719$1,998$1,444$1,029$725$364
29 years$2,597$1,885$1,344$944$655$319
30 years$2,483$1,780$1,252$866$591$279
31 years$2,377$1,683$1,167$795$535$245
32 years$2,278$1,592$1,089$731$484$215
33 years$2,185$1,508$1,017$672$438$188
34 years$2,097$1,429$950$619$396$165
35 years$2,015$1,356$888$569$359$145
36 years$1,938$1,287$831$524$325$127
37 years$1,864$1,222$778$483$295$112
38 years$1,795$1,161$728$445$267$98
39 years$1,730$1,104$682$411$242$86
40 years$1,668$1,051$640$379$220$75
41 years$1,609$1,000$600$349$199$66
42 years$1,553$953$563$323$181$58
43 years$1,500$908$528$298$164$51
44 years$1,450$865$495$275$149$45
45 years$1,401$825$465$254$135$39
46 years$1,355$787$437$234$123$35
47 years$1,312$751$411$217$112$30
48 years$1,270$717$386$200$101$27
49 years$1,230$685$363$185$92$23
50 years$1,191$654$341$171$84$21

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 $5,316 every year, while hoping to spend $22,750 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: 29/50/21 Blend
56$1,220,000$1,220,000$1,220,000$1,220,000
57$1,349,923$1,285,263$1,266,353$1,380,037
58$1,463,410$1,324,036$1,284,570$1,442,409
59$1,587,709$1,363,945$1,302,635$1,507,033
60$1,723,901$1,405,023$1,320,519$1,576,032
61$1,873,173$1,447,304$1,338,190$1,649,797
62$2,036,833$1,490,818$1,355,616$1,728,756
63$2,216,324$1,535,602$1,372,764$1,813,382
64$2,413,233$1,581,691$1,389,595$1,904,190
65$2,629,308$1,629,118$1,406,071$2,001,751
66$2,866,475$1,677,923$1,422,152$2,106,691
67$3,126,856$1,728,142$1,437,795$2,219,698
68$3,412,788$1,779,813$1,452,953$2,341,530
69$3,726,845$1,832,977$1,467,580$2,473,018
70$4,071,863$1,887,673$1,481,624$2,615,081
71$4,450,967$1,943,943$1,495,033$2,768,727
72$4,867,599$2,001,829$1,507,749$2,935,065
73$5,325,550$2,061,375$1,519,715$3,115,317
74$5,828,997$2,122,624$1,530,867$3,310,829
75$6,382,545$2,185,622$1,541,141$3,523,080
76$6,991,262$2,250,415$1,550,466$3,753,701
77$7,660,735$2,317,050$1,558,772$4,004,485
78$8,397,121$2,385,576$1,565,981$4,277,410
79$9,207,200$2,456,042$1,572,014$4,574,650
80$10,098,444$2,528,498$1,576,787$4,898,603
81$11,079,087$2,602,996$1,580,211$5,251,906
82$12,158,200$2,679,588$1,582,194$5,637,467
83$13,345,777$2,758,329$1,582,638$6,058,487
84$14,652,831$2,839,272$1,581,441$6,518,491
85$16,091,497$2,922,473$1,578,496$7,021,365
86$17,675,145$3,007,990$1,573,692$7,571,385
87$19,418,508$3,095,880$1,566,909$8,173,267
88$21,337,821$3,186,203$1,558,024$8,832,201
89$23,450,969$3,279,017$1,546,909$9,553,908
90$25,777,665$3,374,386$1,533,427$10,344,690
91$28,339,626$3,472,370$1,517,437$11,211,490
92$31,160,786$3,573,034$1,498,789$12,161,956
93$34,267,515$3,676,442$1,477,327$13,204,518
94$37,688,873$3,782,659$1,452,889$14,348,461
95$41,456,881$3,891,752$1,425,304$15,604,015
96$45,606,823$4,003,789$1,394,392$16,982,455
97$50,177,582$4,118,837$1,359,967$18,496,201
98$55,212,002$4,236,967$1,321,833$20,158,940
99$60,757,297$4,358,249$1,279,785$21,985,753
100$66,865,493$4,482,755$1,233,609$23,993,258