Can I retire at age 57 with 1,240,000?

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 $1,240,000?

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$102,398$101,486$100,596$99,727$98,879$95,523
2 years$50,692$49,748$48,833$47,946$47,085$43,738
3 years$33,459$32,511$31,598$30,719$29,873$26,639
4 years$24,844$23,899$22,995$22,132$21,306$18,210
5 years$19,677$18,737$17,845$16,999$16,196$13,247
6 years$16,233$15,300$14,422$13,594$12,815$10,015
7 years$13,774$12,849$11,985$11,177$10,422$7,771
8 years$11,930$11,014$10,164$9,376$8,646$6,141
9 years$10,497$9,590$8,754$7,986$7,282$4,920
10 years$9,352$8,453$7,632$6,884$6,204$3,982
11 years$8,415$7,525$6,719$5,991$5,336$3,249
12 years$7,635$6,754$5,963$5,255$4,624$2,667
13 years$6,975$6,104$5,328$4,640$4,032$2,201
14 years$6,410$5,548$4,787$4,118$3,535$1,823
15 years$5,921$5,068$4,322$3,673$3,112$1,516
16 years$5,494$4,650$3,918$3,289$2,750$1,263
17 years$5,117$4,283$3,566$2,955$2,439$1,055
18 years$4,782$3,957$3,255$2,663$2,168$883
19 years$4,483$3,668$2,980$2,406$1,933$740
20 years$4,214$3,408$2,735$2,179$1,726$621
21 years$3,971$3,174$2,515$1,978$1,545$521
22 years$3,751$2,963$2,318$1,798$1,385$438
23 years$3,550$2,771$2,141$1,638$1,243$369
24 years$3,366$2,597$1,980$1,494$1,117$311
25 years$3,197$2,437$1,834$1,364$1,005$262
26 years$3,041$2,290$1,701$1,247$906$220
27 years$2,897$2,155$1,579$1,142$817$186
28 years$2,764$2,031$1,468$1,046$737$157
29 years$2,640$1,916$1,366$959$665$132
30 years$2,524$1,810$1,272$880$601$111
31 years$2,416$1,711$1,186$809$543$94
32 years$2,315$1,619$1,107$743$492$79
33 years$2,221$1,533$1,033$683$445$67
34 years$2,132$1,453$966$629$403$57
35 years$2,048$1,378$903$579$365$48
36 years$1,969$1,308$844$533$331$40
37 years$1,895$1,242$790$491$300$34
38 years$1,825$1,180$740$453$272$29
39 years$1,758$1,123$693$417$246$24
40 years$1,695$1,068$650$385$223$20
41 years$1,635$1,017$609$355$203$17
42 years$1,579$968$572$328$184$15
43 years$1,525$922$536$303$167$12
44 years$1,473$879$504$279$152$10
45 years$1,424$839$473$258$138$9
46 years$1,378$800$444$238$125$7
47 years$1,333$763$417$220$113$6
48 years$1,290$729$392$203$103$5
49 years$1,250$696$369$188$94$4
50 years$1,211$665$346$174$85$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,240,000, adding $2,832 every year, while hoping to spend $20,654 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: 50/20/30 Blend
56$1,240,000$1,240,000$1,240,000$1,240,000
57$1,369,401$1,303,681$1,284,461$1,426,093
58$1,487,104$1,345,586$1,305,515$1,508,030
59$1,616,121$1,388,852$1,326,582$1,594,777
60$1,757,584$1,433,523$1,347,640$1,688,674
61$1,912,739$1,479,648$1,368,668$1,790,413
62$2,082,960$1,527,272$1,389,640$1,900,753
63$2,269,760$1,576,447$1,410,531$2,020,529
64$2,474,805$1,627,222$1,431,313$2,150,663
65$2,699,931$1,679,652$1,451,958$2,292,167
66$2,947,160$1,733,791$1,472,435$2,446,158
67$3,218,719$1,789,695$1,492,710$2,613,865
68$3,517,062$1,847,424$1,512,749$2,796,642
69$3,844,892$1,907,037$1,532,516$2,995,978
70$4,205,186$1,968,598$1,551,971$3,213,517
71$4,601,227$2,032,171$1,571,074$3,451,067
72$5,036,628$2,097,823$1,589,781$3,710,620
73$5,515,371$2,165,623$1,608,045$3,994,371
74$6,041,843$2,235,644$1,625,820$4,304,736
75$6,620,879$2,307,958$1,643,052$4,644,380
76$7,257,804$2,382,643$1,659,689$5,016,236
77$7,958,485$2,459,777$1,675,674$5,423,536
78$8,729,388$2,539,444$1,690,947$5,869,841
79$9,577,635$2,621,726$1,705,443$6,359,074
80$10,511,076$2,706,713$1,719,098$6,895,558
81$11,538,359$2,794,495$1,731,841$7,484,056
82$12,669,012$2,885,166$1,743,598$8,129,813
83$13,913,534$2,978,822$1,754,291$8,838,613
84$15,283,494$3,075,564$1,763,840$9,616,824
85$16,791,640$3,175,496$1,772,158$10,471,467
86$18,452,018$3,278,725$1,779,155$11,410,276
87$20,280,104$3,385,363$1,784,737$12,441,772
88$22,292,953$3,495,525$1,788,805$13,575,345
89$24,509,358$3,609,330$1,791,254$14,821,344
90$26,950,026$3,726,900$1,791,974$16,191,170
91$29,637,774$3,848,364$1,790,851$17,697,386
92$32,597,747$3,973,853$1,787,763$19,353,838
93$35,857,649$4,103,504$1,782,586$21,175,781
94$39,448,012$4,237,458$1,775,185$23,180,025
95$43,402,478$4,375,862$1,765,422$25,385,095
96$47,758,118$4,518,867$1,753,151$27,811,405
97$52,555,784$4,666,630$1,738,220$30,481,450
98$57,840,492$4,819,312$1,720,468$33,420,017
99$63,661,847$4,977,083$1,699,728$36,654,423
100$70,074,510$5,140,115$1,675,825$40,214,769