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

Use the below retirement simulation to view the chances of a successful retirement.
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%12.1%
1 years$110,656$109,670$108,709$107,770$106,853$105,914
2 years$54,780$53,760$52,771$51,813$50,883$49,936
3 years$36,157$35,133$34,146$33,197$32,282$31,357
4 years$26,848$25,826$24,850$23,916$23,024$22,128
5 years$21,263$20,248$19,285$18,370$17,502$16,639
6 years$17,542$16,534$15,585$14,691$13,849$13,018
7 years$14,885$13,885$12,951$12,078$11,263$10,466
8 years$12,893$11,902$10,983$10,132$9,344$8,580
9 years$11,344$10,363$9,460$8,630$7,869$7,138
10 years$10,106$9,135$8,248$7,439$6,705$6,006
11 years$9,093$8,132$7,261$6,474$5,766$5,100
12 years$8,250$7,299$6,444$5,679$4,997$4,362
13 years$7,538$6,596$5,757$5,014$4,357$3,753
14 years$6,927$5,996$5,173$4,451$3,820$3,246
15 years$6,399$5,477$4,670$3,969$3,363$2,818
16 years$5,937$5,025$4,234$3,554$2,972$2,456
17 years$5,529$4,628$3,853$3,193$2,635$2,146
18 years$5,168$4,276$3,517$2,878$2,343$1,881
19 years$4,845$3,963$3,220$2,600$2,089$1,651
20 years$4,554$3,683$2,955$2,355$1,866$1,453
21 years$4,292$3,430$2,718$2,137$1,670$1,281
22 years$4,053$3,202$2,505$1,943$1,496$1,130
23 years$3,836$2,995$2,313$1,770$1,343$999
24 years$3,637$2,806$2,139$1,614$1,207$883
25 years$3,455$2,633$1,981$1,474$1,086$782
26 years$3,286$2,475$1,838$1,348$979$693
27 years$3,131$2,329$1,706$1,234$882$615
28 years$2,987$2,195$1,586$1,130$796$546
29 years$2,853$2,071$1,476$1,037$719$484
30 years$2,728$1,955$1,375$951$650$430
31 years$2,611$1,849$1,282$874$587$383
32 years$2,502$1,749$1,196$803$531$340
33 years$2,400$1,656$1,117$738$481$303
34 years$2,304$1,570$1,043$679$435$269
35 years$2,213$1,489$976$625$394$240
36 years$2,128$1,413$913$576$357$213
37 years$2,048$1,342$854$531$324$190
38 years$1,972$1,276$800$489$294$169
39 years$1,900$1,213$749$451$266$151
40 years$1,832$1,154$702$416$241$134
41 years$1,767$1,099$659$384$219$120
42 years$1,706$1,046$618$354$199$107
43 years$1,648$997$580$327$180$95
44 years$1,592$950$544$302$164$85
45 years$1,539$906$511$279$149$76
46 years$1,489$864$480$258$135$67
47 years$1,441$825$451$238$123$60
48 years$1,394$788$424$220$111$54
49 years$1,350$752$398$203$101$48
50 years$1,308$718$374$188$92$43

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 $4,150 every year, while hoping to spend $51,153 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: 55/27/18 Blend
56$1,340,000$1,340,000$1,340,000$1,340,000
57$1,480,961$1,409,941$1,389,171$1,555,053
58$1,577,592$1,424,601$1,381,282$1,620,730
59$1,682,366$1,438,266$1,371,414$1,686,397
60$1,796,058$1,450,832$1,359,447$1,756,772
61$1,919,522$1,462,189$1,345,255$1,832,318
62$2,053,699$1,472,221$1,328,706$1,913,547
63$2,199,620$1,480,804$1,309,662$2,001,024
64$2,358,424$1,487,806$1,287,977$2,095,375
65$2,531,360$1,493,085$1,263,502$2,197,289
66$2,719,805$1,496,494$1,236,076$2,307,530
67$2,925,275$1,497,871$1,205,534$2,426,939
68$3,149,437$1,497,050$1,171,703$2,556,448
69$3,394,124$1,493,851$1,134,400$2,697,084
70$3,661,359$1,488,084$1,093,437$2,849,983
71$3,953,364$1,479,547$1,048,613$3,016,398
72$4,272,588$1,468,025$999,723$3,197,715
73$4,621,726$1,453,293$946,547$3,395,462
74$5,003,747$1,435,108$888,861$3,611,328
75$5,421,917$1,413,217$826,426$3,847,178
76$5,879,836$1,387,348$758,995$4,105,071
77$6,381,467$1,357,215$686,308$4,387,279
78$6,931,173$1,322,515$608,097$4,696,311
79$7,533,762$1,282,928$524,077$5,034,937
80$8,194,526$1,238,112$433,954$5,406,216
81$8,919,296$1,187,708$337,420$5,813,520
82$9,714,494$1,131,335$234,153$6,260,577
83$10,587,194$1,068,592$123,819$6,751,495
84$11,545,186$999,051$6,065$7,290,813
85$12,597,053$922,263$0$7,883,537
86$13,752,250$837,752$0$8,558,161
87$15,021,192$745,013$0$9,300,548
88$16,415,351$643,517$0$10,116,335
89$17,947,367$532,699$0$11,013,022
90$19,631,165$411,968$0$11,998,881
91$21,482,085$280,696$0$13,083,032
92$23,517,029$138,220$0$14,275,529
93$25,754,615$0$0$15,587,461
94$28,215,358$0$0$17,035,852
95$30,921,861$0$0$18,674,201
96$33,899,027$0$0$20,476,533
97$37,174,292$0$0$22,459,477
98$40,777,887$0$0$24,641,352
99$44,743,122$0$0$27,042,346
100$49,106,696$0$0$29,684,700