Can I retire at age 57 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$101,572$100,667$99,785$98,923$98,082$95,828
2 years$50,283$49,347$48,439$47,559$46,706$44,447
3 years$33,189$32,249$31,343$30,472$29,632$27,439
4 years$24,644$23,706$22,810$21,953$21,134$19,024
5 years$19,518$18,586$17,701$16,862$16,066$14,045
6 years$16,102$15,177$14,305$13,485$12,712$10,783
7 years$13,663$12,745$11,888$11,087$10,338$8,500
8 years$11,834$10,925$10,082$9,300$8,577$6,829
9 years$10,413$9,512$8,683$7,922$7,223$5,564
10 years$9,276$8,385$7,570$6,829$6,154$4,583
11 years$8,347$7,464$6,665$5,943$5,293$3,807
12 years$7,573$6,700$5,915$5,213$4,587$3,184
13 years$6,919$6,055$5,285$4,602$4,000$2,677
14 years$6,359$5,503$4,748$4,085$3,506$2,261
15 years$5,873$5,027$4,287$3,643$3,087$1,917
16 years$5,449$4,613$3,887$3,262$2,728$1,630
17 years$5,076$4,248$3,537$2,931$2,419$1,390
18 years$4,744$3,925$3,229$2,641$2,151$1,187
19 years$4,447$3,638$2,956$2,387$1,917$1,016
20 years$4,180$3,381$2,713$2,162$1,712$871
21 years$3,939$3,149$2,495$1,962$1,532$748
22 years$3,721$2,939$2,300$1,784$1,374$642
23 years$3,521$2,749$2,123$1,625$1,233$553
24 years$3,339$2,576$1,964$1,482$1,108$476
25 years$3,171$2,417$1,819$1,353$997$410
26 years$3,017$2,272$1,687$1,237$898$353
27 years$2,874$2,138$1,566$1,132$810$304
28 years$2,741$2,015$1,456$1,038$731$263
29 years$2,618$1,901$1,355$951$660$227
30 years$2,504$1,795$1,262$873$596$196
31 years$2,397$1,697$1,177$802$539$169
32 years$2,297$1,606$1,098$737$488$146
33 years$2,203$1,520$1,025$678$441$126
34 years$2,115$1,441$958$624$400$109
35 years$2,032$1,367$895$574$362$94
36 years$1,954$1,297$838$529$328$81
37 years$1,880$1,232$784$487$297$70
38 years$1,810$1,171$734$449$269$61
39 years$1,744$1,113$688$414$244$53
40 years$1,682$1,059$645$382$222$45
41 years$1,622$1,008$605$352$201$39
42 years$1,566$960$567$325$182$34
43 years$1,512$915$532$300$166$29
44 years$1,461$872$500$277$150$25
45 years$1,413$832$469$256$136$22
46 years$1,366$793$441$236$124$19
47 years$1,322$757$414$218$112$16
48 years$1,280$723$389$202$102$14
49 years$1,240$690$366$187$93$12
50 years$1,201$659$344$172$84$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,230,000, adding $5,690 every year, while hoping to spend $24,059 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: 35/49/16 Blend
56$1,230,000$1,230,000$1,230,000$1,230,000
57$1,361,329$1,296,139$1,277,074$1,402,088
58$1,474,586$1,334,051$1,294,258$1,470,148
59$1,598,589$1,373,015$1,311,210$1,540,859
60$1,734,408$1,413,056$1,327,899$1,616,640
61$1,883,223$1,454,201$1,344,289$1,697,953
62$2,046,333$1,496,477$1,360,343$1,785,307
63$2,225,166$1,539,912$1,376,022$1,879,261
64$2,421,299$1,584,534$1,391,285$1,980,430
65$2,636,466$1,630,371$1,406,087$2,089,492
66$2,872,578$1,677,452$1,420,384$2,207,190
67$3,131,741$1,725,806$1,434,126$2,334,343
68$3,416,271$1,775,464$1,447,263$2,471,853
69$3,728,725$1,826,455$1,459,740$2,620,711
70$4,071,914$1,878,811$1,471,501$2,782,009
71$4,448,939$1,932,563$1,482,486$2,956,949
72$4,863,214$1,987,741$1,492,632$3,146,853
73$5,318,500$2,044,378$1,501,873$3,353,179
74$5,818,941$2,102,507$1,510,140$3,577,528
75$6,369,103$2,162,160$1,517,359$3,821,667
76$6,974,015$2,223,369$1,523,454$4,087,541
77$7,639,218$2,286,168$1,528,344$4,377,290
78$8,370,819$2,350,591$1,531,945$4,693,272
79$9,175,544$2,416,671$1,534,166$5,038,085
80$10,060,804$2,484,443$1,534,915$5,414,590
81$11,034,766$2,553,940$1,534,094$5,825,937
82$12,106,426$2,625,197$1,531,600$6,275,598
83$13,285,698$2,698,248$1,527,325$6,767,395
84$14,583,504$2,773,128$1,521,156$7,305,542
85$16,011,881$2,849,870$1,512,974$7,894,678
86$17,584,089$2,928,511$1,502,656$8,539,916
87$19,314,742$3,009,083$1,490,069$9,246,887
88$21,219,938$3,091,620$1,475,080$10,021,797
89$23,317,420$3,176,158$1,457,543$10,871,482
90$25,626,736$3,262,729$1,437,310$11,803,475
91$28,169,427$3,351,366$1,414,223$12,826,075
92$30,969,228$3,442,103$1,388,120$13,948,428
93$34,052,295$3,534,972$1,358,827$15,180,608
94$37,447,446$3,630,003$1,326,166$16,533,720
95$41,186,441$3,727,228$1,289,947$18,019,996
96$45,304,273$3,826,677$1,249,975$19,652,917
97$49,839,503$3,928,378$1,206,043$21,447,337
98$54,834,623$4,032,360$1,157,937$23,419,623
99$60,336,458$4,138,649$1,105,432$25,587,814
100$66,396,605$4,247,271$1,048,291$27,971,783