Can I retire at age 57 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$132,127$130,950$129,801$128,681$127,586$126,623
2 years$65,409$64,191$63,010$61,866$60,755$59,784
3 years$43,173$41,950$40,772$39,638$38,546$37,597
4 years$32,057$30,837$29,671$28,557$27,491$26,572
5 years$25,389$24,177$23,026$21,934$20,898$20,011
6 years$20,945$19,742$18,609$17,541$16,536$15,682
7 years$17,773$16,579$15,464$14,422$13,448$12,628
8 years$15,394$14,212$13,115$12,098$11,157$10,370
9 years$13,545$12,374$11,296$10,305$9,396$8,643
10 years$12,067$10,907$9,848$8,883$8,005$7,286
11 years$10,858$9,710$8,670$7,731$6,885$6,198
12 years$9,851$8,715$7,694$6,781$5,966$5,311
13 years$9,000$7,876$6,874$5,986$5,203$4,579
14 years$8,271$7,159$6,177$5,314$4,561$3,967
15 years$7,640$6,540$5,577$4,739$4,016$3,452
16 years$7,089$6,000$5,056$4,243$3,549$3,014
17 years$6,602$5,526$4,601$3,813$3,147$2,640
18 years$6,171$5,106$4,200$3,436$2,798$2,318
19 years$5,785$4,732$3,845$3,105$2,494$2,040
20 years$5,438$4,398$3,529$2,812$2,228$1,799
21 years$5,124$4,096$3,246$2,552$1,993$1,589
22 years$4,840$3,824$2,991$2,320$1,787$1,405
23 years$4,581$3,576$2,762$2,113$1,604$1,244
24 years$4,343$3,351$2,554$1,927$1,442$1,103
25 years$4,125$3,144$2,366$1,760$1,297$979
26 years$3,924$2,955$2,194$1,609$1,169$870
27 years$3,738$2,781$2,038$1,473$1,054$773
28 years$3,566$2,621$1,894$1,350$951$688
29 years$3,406$2,472$1,763$1,238$858$612
30 years$3,257$2,335$1,642$1,136$776$545
31 years$3,118$2,207$1,531$1,043$701$486
32 years$2,987$2,088$1,428$959$634$433
33 years$2,865$1,978$1,333$882$574$386
34 years$2,751$1,875$1,246$811$520$345
35 years$2,643$1,778$1,165$747$471$307
36 years$2,541$1,688$1,090$688$427$274
37 years$2,445$1,603$1,020$634$387$245
38 years$2,355$1,523$955$584$350$219
39 years$2,269$1,448$895$539$318$195
40 years$2,187$1,378$839$497$288$174
41 years$2,110$1,312$786$458$262$156
42 years$2,037$1,249$738$423$237$139
43 years$1,967$1,190$692$390$215$124
44 years$1,901$1,135$650$361$195$111
45 years$1,838$1,082$610$333$177$99
46 years$1,778$1,032$573$308$161$89
47 years$1,720$985$538$284$146$79
48 years$1,665$940$506$263$133$71
49 years$1,612$898$476$243$121$63
50 years$1,562$858$447$224$110$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,600,000, adding $5,490 every year, while hoping to spend $29,781 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: 66/6/28 Blend
56$1,600,000$1,600,000$1,600,000$1,600,000
57$1,768,863$1,684,063$1,659,263$1,872,231
58$1,917,600$1,734,895$1,683,161$1,993,500
59$2,080,511$1,787,220$1,706,863$2,122,219
60$2,259,008$1,841,080$1,730,328$2,262,307
61$2,454,651$1,896,516$1,753,517$2,414,886
62$2,669,153$1,953,573$1,776,388$2,581,194
63$2,904,405$2,012,297$1,798,896$2,762,597
64$3,162,486$2,072,732$1,820,991$2,960,595
65$3,445,690$2,134,926$1,842,625$3,176,846
66$3,756,541$2,198,927$1,863,743$3,413,172
67$4,097,819$2,264,786$1,884,289$3,671,583
68$4,472,588$2,332,552$1,904,204$3,954,293
69$4,884,222$2,402,277$1,923,425$4,263,742
70$5,336,439$2,474,015$1,941,886$4,602,618
71$5,833,334$2,547,820$1,959,518$4,973,882
72$6,379,419$2,623,747$1,976,246$5,380,799
73$6,979,663$2,701,855$1,991,994$5,826,965
74$7,639,543$2,782,200$2,006,680$6,316,342
75$8,365,091$2,864,842$2,020,218$6,853,298
76$9,162,954$2,949,843$2,032,519$7,442,644
77$10,040,455$3,037,265$2,043,488$8,089,683
78$11,005,662$3,127,171$2,053,025$8,800,259
79$12,067,463$3,219,627$2,061,025$9,580,810
80$13,235,654$3,314,698$2,067,379$10,438,434
81$14,521,026$3,412,453$2,071,972$11,380,949
82$15,935,468$3,512,961$2,074,681$12,416,974
83$17,492,083$3,616,293$2,075,379$13,556,004
84$19,205,305$3,722,521$2,073,934$14,808,505
85$21,091,040$3,831,718$2,070,205$16,186,009
86$23,166,814$3,943,960$2,064,044$17,701,227
87$25,451,938$4,059,324$2,055,299$19,368,163
88$27,967,691$4,177,886$2,043,808$21,202,253
89$30,737,521$4,299,728$2,029,400$23,220,506
90$33,787,262$4,424,929$2,011,899$25,441,668
91$37,145,385$4,553,572$1,991,119$27,886,396
92$40,843,258$4,685,741$1,966,866$30,577,454
93$44,915,449$4,821,521$1,938,935$33,539,932
94$49,400,048$4,960,999$1,907,112$36,801,476
95$54,339,028$5,104,263$1,871,176$40,392,555
96$59,778,639$5,251,402$1,830,891$44,346,747
97$65,769,848$5,402,508$1,786,012$48,701,054
98$72,368,813$5,557,672$1,736,285$53,496,257
99$79,637,422$5,716,988$1,681,441$58,777,293
100$87,643,870$5,880,551$1,621,199$64,593,688