Can I retire at age 57 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$109,004$108,033$107,086$106,161$105,259$101,282
2 years$53,963$52,958$51,984$51,039$50,123$46,163
3 years$35,618$34,608$33,637$32,701$31,800$27,981
4 years$26,447$25,441$24,479$23,559$22,680$19,031
5 years$20,946$19,946$18,997$18,096$17,241$13,772
6 years$17,280$16,287$15,352$14,471$13,642$10,355
7 years$14,662$13,678$12,758$11,898$11,095$7,989
8 years$12,700$11,725$10,820$9,981$9,204$6,276
9 years$11,175$10,208$9,319$8,501$7,751$4,997
10 years$9,955$8,998$8,124$7,328$6,604$4,019
11 years$8,958$8,011$7,153$6,378$5,680$3,258
12 years$8,127$7,190$6,348$5,594$4,922$2,657
13 years$7,425$6,498$5,671$4,939$4,292$2,177
14 years$6,824$5,906$5,096$4,384$3,763$1,791
15 years$6,303$5,395$4,601$3,910$3,313$1,478
16 years$5,848$4,950$4,171$3,501$2,928$1,223
17 years$5,447$4,559$3,796$3,146$2,596$1,014
18 years$5,091$4,213$3,465$2,835$2,308$842
19 years$4,772$3,904$3,172$2,561$2,057$701
20 years$4,486$3,628$2,911$2,320$1,838$583
21 years$4,228$3,379$2,678$2,105$1,645$486
22 years$3,993$3,154$2,468$1,914$1,474$406
23 years$3,779$2,950$2,279$1,743$1,323$339
24 years$3,583$2,764$2,107$1,590$1,189$283
25 years$3,403$2,594$1,952$1,452$1,070$236
26 years$3,237$2,438$1,810$1,328$964$197
27 years$3,084$2,294$1,681$1,215$869$165
28 years$2,942$2,162$1,563$1,114$784$138
29 years$2,810$2,040$1,454$1,021$708$116
30 years$2,687$1,926$1,355$937$640$97
31 years$2,572$1,821$1,263$861$579$81
32 years$2,465$1,723$1,178$791$523$68
33 years$2,364$1,632$1,100$727$474$57
34 years$2,269$1,546$1,028$669$429$47
35 years$2,180$1,467$961$616$388$40
36 years$2,096$1,392$899$567$352$33
37 years$2,017$1,322$841$523$319$28
38 years$1,943$1,257$788$482$289$23
39 years$1,872$1,195$738$444$262$20
40 years$1,805$1,137$692$410$238$16
41 years$1,741$1,082$649$378$216$14
42 years$1,681$1,031$609$349$196$11
43 years$1,623$982$571$322$178$10
44 years$1,568$936$536$297$161$8
45 years$1,516$893$503$275$146$7
46 years$1,466$852$473$254$133$6
47 years$1,419$813$444$234$121$5
48 years$1,374$776$417$217$110$4
49 years$1,330$741$392$200$100$3
50 years$1,289$708$369$185$90$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,320,000, adding $5,509 every year, while hoping to spend $47,504 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: 51/32/17 Blend
56$1,320,000$1,320,000$1,320,000$1,320,000
57$1,460,323$1,390,363$1,369,903$1,527,715
58$1,558,732$1,407,946$1,365,250$1,592,235
59$1,665,586$1,424,800$1,358,850$1,656,939
60$1,781,698$1,440,837$1,350,593$1,726,249
61$1,907,958$1,455,965$1,340,366$1,800,616
62$2,045,351$1,470,088$1,328,049$1,880,538
63$2,194,954$1,483,100$1,313,516$1,966,565
64$2,357,958$1,494,891$1,296,638$2,059,306
65$2,535,671$1,505,341$1,277,276$2,159,431
66$2,729,532$1,514,326$1,255,287$2,267,682
67$2,941,127$1,521,710$1,230,522$2,384,880
68$3,172,199$1,527,351$1,202,822$2,511,929
69$3,424,670$1,531,098$1,172,023$2,649,828
70$3,700,653$1,532,789$1,137,952$2,799,682
71$4,002,477$1,532,252$1,100,431$2,962,710
72$4,332,703$1,529,307$1,059,270$3,140,259
73$4,694,156$1,523,760$1,014,271$3,333,814
74$5,089,941$1,515,405$965,231$3,545,019
75$5,523,481$1,504,026$911,932$3,775,685
76$5,998,545$1,489,392$854,151$4,027,814
77$6,519,282$1,471,258$791,651$4,303,615
78$7,090,265$1,449,366$724,187$4,605,528
79$7,716,528$1,423,441$651,503$4,936,245
80$8,403,616$1,393,191$573,330$5,298,737
81$9,157,636$1,358,309$489,389$5,696,286
82$9,985,318$1,318,469$399,386$6,132,512
83$10,894,072$1,273,326$303,017$6,611,410
84$11,892,061$1,222,513$199,962$7,137,391
85$12,988,280$1,165,644$89,889$7,715,320
86$14,192,634$1,102,311$0$8,350,568
87$15,516,039$1,032,080$0$9,054,062
88$16,970,517$954,494$0$9,845,064
89$18,569,315$869,069$0$10,714,532
90$20,327,026$775,294$0$11,670,496
91$22,259,728$672,629$0$12,721,811
92$24,385,135$560,503$0$13,878,241
93$26,722,764$438,312$0$15,150,551
94$29,294,116$305,420$0$16,550,611
95$32,122,884$161,154$0$18,091,510
96$35,235,171$4,803$0$19,787,680
97$38,659,736$0$0$21,655,033
98$42,428,271$0$0$23,768,996
99$46,575,692$0$0$26,097,518
100$51,140,471$0$0$28,660,529