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%13.1%
1 years$109,004$108,033$107,086$106,161$105,259$103,900
2 years$53,963$52,958$51,984$51,039$50,123$48,757
3 years$35,618$34,608$33,637$32,701$31,800$30,468
4 years$26,447$25,441$24,479$23,559$22,680$21,392
5 years$20,946$19,946$18,997$18,096$17,241$16,002
6 years$17,280$16,287$15,352$14,471$13,642$12,452
7 years$14,662$13,678$12,758$11,898$11,095$9,955
8 years$12,700$11,725$10,820$9,981$9,204$8,115
9 years$11,175$10,208$9,319$8,501$7,751$6,711
10 years$9,955$8,998$8,124$7,328$6,604$5,613
11 years$8,958$8,011$7,153$6,378$5,680$4,737
12 years$8,127$7,190$6,348$5,594$4,922$4,026
13 years$7,425$6,498$5,671$4,939$4,292$3,442
14 years$6,824$5,906$5,096$4,384$3,763$2,957
15 years$6,303$5,395$4,601$3,910$3,313$2,550
16 years$5,848$4,950$4,171$3,501$2,928$2,207
17 years$5,447$4,559$3,796$3,146$2,596$1,915
18 years$5,091$4,213$3,465$2,835$2,308$1,666
19 years$4,772$3,904$3,172$2,561$2,057$1,453
20 years$4,486$3,628$2,911$2,320$1,838$1,269
21 years$4,228$3,379$2,678$2,105$1,645$1,110
22 years$3,993$3,154$2,468$1,914$1,474$972
23 years$3,779$2,950$2,279$1,743$1,323$852
24 years$3,583$2,764$2,107$1,590$1,189$748
25 years$3,403$2,594$1,952$1,452$1,070$657
26 years$3,237$2,438$1,810$1,328$964$578
27 years$3,084$2,294$1,681$1,215$869$509
28 years$2,942$2,162$1,563$1,114$784$448
29 years$2,810$2,040$1,454$1,021$708$394
30 years$2,687$1,926$1,355$937$640$348
31 years$2,572$1,821$1,263$861$579$306
32 years$2,465$1,723$1,178$791$523$270
33 years$2,364$1,632$1,100$727$474$238
34 years$2,269$1,546$1,028$669$429$210
35 years$2,180$1,467$961$616$388$186
36 years$2,096$1,392$899$567$352$164
37 years$2,017$1,322$841$523$319$145
38 years$1,943$1,257$788$482$289$128
39 years$1,872$1,195$738$444$262$113
40 years$1,805$1,137$692$410$238$100
41 years$1,741$1,082$649$378$216$88
42 years$1,681$1,031$609$349$196$78
43 years$1,623$982$571$322$178$69
44 years$1,568$936$536$297$161$61
45 years$1,516$893$503$275$146$54
46 years$1,466$852$473$254$133$47
47 years$1,419$813$444$234$121$42
48 years$1,374$776$417$217$110$37
49 years$1,330$741$392$200$100$33
50 years$1,289$708$369$185$90$29

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 $6,369 every year, while hoping to spend $57,952 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: 58/36/6 Blend
56$1,320,000$1,320,000$1,320,000$1,320,000
57$1,461,210$1,391,250$1,370,790$1,543,823
58$1,548,593$1,397,760$1,355,051$1,606,535
59$1,642,946$1,402,648$1,336,842$1,667,712
60$1,744,920$1,405,771$1,316,020$1,732,936
61$1,855,229$1,406,981$1,292,434$1,802,598
62$1,974,658$1,406,119$1,265,926$1,877,131
63$2,104,070$1,403,015$1,236,331$1,957,011
64$2,244,414$1,397,491$1,203,476$2,042,769
65$2,396,733$1,389,357$1,167,182$2,134,987
66$2,562,175$1,378,412$1,127,258$2,234,312
67$2,742,003$1,364,440$1,083,508$2,341,459
68$2,937,607$1,347,217$1,035,724$2,457,215
69$3,150,513$1,326,500$983,691$2,582,455
70$3,382,403$1,302,037$927,183$2,718,143
71$3,635,128$1,273,557$865,963$2,865,346
72$3,910,725$1,240,775$799,786$3,025,241
73$4,211,434$1,203,387$728,394$3,199,133
74$4,539,722$1,161,076$651,518$3,388,460
75$4,898,305$1,113,500$568,875$3,594,812
76$5,290,174$1,060,303$480,174$3,819,948
77$5,718,618$1,001,104$385,106$4,065,809
78$6,187,263$935,504$283,353$4,334,541
79$6,700,097$863,077$174,579$4,628,513
80$7,261,515$783,376$58,436$4,950,342
81$7,876,356$695,928$0$5,302,921
82$8,549,946$600,230$0$5,693,635
83$9,288,154$495,754$0$6,126,082
84$10,097,441$381,942$0$6,600,437
85$10,984,925$258,203$0$7,121,026
86$11,958,446$123,913$0$7,692,623
87$13,026,637$0$0$8,320,500
88$14,199,009$0$0$9,019,023
89$15,486,038$0$0$9,839,864
90$16,899,264$0$0$10,741,308
91$18,451,399$0$0$11,731,480
92$20,156,447$0$0$12,819,328
93$22,029,835$0$0$14,014,710
94$24,088,556$0$0$15,328,488
95$26,351,336$0$0$16,772,625
96$28,838,800$0$0$18,360,305
97$31,573,673$0$0$20,106,049
98$34,580,993$0$0$22,025,859
99$37,888,345$0$0$24,137,362
100$41,526,118$0$0$26,459,982