Can I retire at age 57 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$110,656$109,670$108,709$107,770$106,853$104,017
2 years$54,780$53,760$52,771$51,813$50,883$48,045
3 years$36,157$35,133$34,146$33,197$32,282$29,532
4 years$26,848$25,826$24,850$23,916$23,024$20,382
5 years$21,263$20,248$19,285$18,370$17,502$14,976
6 years$17,542$16,534$15,585$14,691$13,849$11,441
7 years$14,885$13,885$12,951$12,078$11,263$8,974
8 years$12,893$11,902$10,983$10,132$9,344$7,172
9 years$11,344$10,363$9,460$8,630$7,869$5,812
10 years$10,106$9,135$8,248$7,439$6,705$4,760
11 years$9,093$8,132$7,261$6,474$5,766$3,932
12 years$8,250$7,299$6,444$5,679$4,997$3,269
13 years$7,538$6,596$5,757$5,014$4,357$2,732
14 years$6,927$5,996$5,173$4,451$3,820$2,293
15 years$6,399$5,477$4,670$3,969$3,363$1,932
16 years$5,937$5,025$4,234$3,554$2,972$1,632
17 years$5,529$4,628$3,853$3,193$2,635$1,383
18 years$5,168$4,276$3,517$2,878$2,343$1,173
19 years$4,845$3,963$3,220$2,600$2,089$998
20 years$4,554$3,683$2,955$2,355$1,866$849
21 years$4,292$3,430$2,718$2,137$1,670$724
22 years$4,053$3,202$2,505$1,943$1,496$618
23 years$3,836$2,995$2,313$1,770$1,343$528
24 years$3,637$2,806$2,139$1,614$1,207$451
25 years$3,455$2,633$1,981$1,474$1,086$386
26 years$3,286$2,475$1,838$1,348$979$330
27 years$3,131$2,329$1,706$1,234$882$282
28 years$2,987$2,195$1,586$1,130$796$242
29 years$2,853$2,071$1,476$1,037$719$207
30 years$2,728$1,955$1,375$951$650$178
31 years$2,611$1,849$1,282$874$587$152
32 years$2,502$1,749$1,196$803$531$130
33 years$2,400$1,656$1,117$738$481$112
34 years$2,304$1,570$1,043$679$435$96
35 years$2,213$1,489$976$625$394$82
36 years$2,128$1,413$913$576$357$71
37 years$2,048$1,342$854$531$324$61
38 years$1,972$1,276$800$489$294$52
39 years$1,900$1,213$749$451$266$45
40 years$1,832$1,154$702$416$241$38
41 years$1,767$1,099$659$384$219$33
42 years$1,706$1,046$618$354$199$28
43 years$1,648$997$580$327$180$24
44 years$1,592$950$544$302$164$21
45 years$1,539$906$511$279$149$18
46 years$1,489$864$480$258$135$15
47 years$1,441$825$451$238$123$13
48 years$1,394$788$424$220$111$11
49 years$1,350$752$398$203$101$10
50 years$1,308$718$374$188$92$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,340,000, adding $6,089 every year, while hoping to spend $45,758 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: 69/22/9 Blend
56$1,340,000$1,340,000$1,340,000$1,340,000
57$1,482,961$1,411,941$1,391,171$1,582,333
58$1,585,537$1,432,440$1,389,089$1,669,493
59$1,697,042$1,452,410$1,385,404$1,758,674
60$1,818,338$1,471,776$1,380,013$1,855,007
61$1,950,375$1,490,459$1,372,810$1,959,184
62$2,094,197$1,508,375$1,363,682$2,071,971
63$2,250,952$1,525,433$1,352,513$2,194,208
64$2,421,906$1,541,536$1,339,179$2,326,824
65$2,608,449$1,556,580$1,323,550$2,470,842
66$2,812,115$1,570,456$1,305,493$2,627,388
67$3,034,588$1,583,046$1,284,865$2,797,705
68$3,277,727$1,594,226$1,261,519$2,983,162
69$3,543,575$1,603,863$1,235,299$3,185,269
70$3,834,382$1,611,815$1,206,044$3,405,688
71$4,152,626$1,617,931$1,173,583$3,646,254
72$4,501,036$1,622,052$1,137,741$3,908,988
73$4,882,616$1,624,007$1,098,330$4,196,119
74$5,300,676$1,623,616$1,055,156$4,510,102
75$5,758,858$1,620,686$1,008,017$4,853,647
76$6,261,177$1,615,015$956,701$5,229,736
77$6,812,052$1,606,386$900,986$5,641,663
78$7,416,352$1,594,569$840,639$6,093,053
79$8,079,439$1,579,322$775,420$6,587,905
80$8,807,219$1,560,386$705,073$7,130,629
81$9,606,198$1,537,488$629,337$7,726,083
82$10,483,544$1,510,339$547,933$8,379,626
83$11,447,150$1,478,630$460,574$9,097,161
84$12,505,714$1,442,038$366,958$9,885,200
85$13,668,817$1,400,218$266,771$10,750,919
86$14,947,014$1,352,806$159,685$11,702,230
87$16,351,932$1,299,416$45,357$12,747,854
88$17,896,381$1,239,640$0$13,897,403
89$19,594,476$1,173,046$0$15,168,837
90$21,461,765$1,099,178$0$16,571,604
91$23,515,380$1,017,553$0$18,114,258
92$25,774,197$927,660$0$19,811,034
93$28,259,010$828,961$0$21,677,620
94$30,992,734$720,885$0$23,731,306
95$34,000,613$602,829$0$25,991,151
96$37,310,465$474,156$0$28,478,159
97$40,952,938$334,196$0$31,215,478
98$44,961,802$182,236$0$34,228,624
99$49,374,268$17,528$0$37,545,716
100$54,231,337$0$0$41,197,749