Can I retire at age 57 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$135,430$134,223$133,046$131,898$130,776$129,734
2 years$67,044$65,796$64,586$63,412$62,274$61,224
3 years$44,252$42,998$41,791$40,629$39,509$38,484
4 years$32,858$31,608$30,413$29,271$28,178$27,185
5 years$26,024$24,781$23,602$22,483$21,421$20,462
6 years$21,469$20,236$19,074$17,980$16,950$16,027
7 years$18,217$16,994$15,850$14,782$13,784$12,899
8 years$15,779$14,567$13,442$12,400$11,436$10,586
9 years$13,884$12,683$11,578$10,562$9,630$8,818
10 years$12,368$11,180$10,094$9,105$8,206$7,429
11 years$11,129$9,953$8,887$7,924$7,057$6,315
12 years$10,098$8,933$7,887$6,950$6,116$5,409
13 years$9,225$8,073$7,046$6,136$5,333$4,660
14 years$8,478$7,338$6,331$5,447$4,675$4,035
15 years$7,831$6,703$5,716$4,858$4,116$3,508
16 years$7,266$6,150$5,182$4,350$3,638$3,061
17 years$6,767$5,664$4,716$3,908$3,225$2,679
18 years$6,325$5,234$4,305$3,522$2,868$2,351
19 years$5,929$4,851$3,941$3,182$2,556$2,067
20 years$5,574$4,507$3,617$2,882$2,283$1,822
21 years$5,253$4,199$3,327$2,616$2,043$1,608
22 years$4,961$3,919$3,066$2,378$1,832$1,421
23 years$4,695$3,666$2,831$2,166$1,644$1,258
24 years$4,452$3,434$2,618$1,976$1,478$1,114
25 years$4,228$3,223$2,425$1,804$1,330$988
26 years$4,022$3,029$2,249$1,650$1,198$877
27 years$3,832$2,851$2,088$1,510$1,080$779
28 years$3,655$2,686$1,941$1,383$974$692
29 years$3,491$2,534$1,807$1,269$880$616
30 years$3,338$2,393$1,683$1,164$795$548
31 years$3,196$2,262$1,569$1,069$719$488
32 years$3,062$2,141$1,464$983$650$435
33 years$2,937$2,027$1,367$904$588$387
34 years$2,819$1,921$1,277$831$533$345
35 years$2,709$1,822$1,194$765$483$308
36 years$2,605$1,730$1,117$705$437$274
37 years$2,506$1,643$1,045$650$396$245
38 years$2,413$1,561$979$599$359$218
39 years$2,325$1,485$917$552$326$195
40 years$2,242$1,412$860$509$295$174
41 years$2,163$1,345$806$470$268$155
42 years$2,088$1,281$756$434$243$139
43 years$2,017$1,220$710$400$221$124
44 years$1,949$1,163$666$370$200$110
45 years$1,884$1,109$625$341$182$99
46 years$1,822$1,058$587$315$165$88
47 years$1,763$1,010$552$291$150$79
48 years$1,707$964$519$269$136$70
49 years$1,653$920$487$249$124$63
50 years$1,601$879$458$230$112$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,640,000, adding $4,727 every year, while hoping to spend $45,372 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: 62/8/30 Blend
56$1,640,000$1,640,000$1,640,000$1,640,000
57$1,812,156$1,725,236$1,699,816$1,909,571
58$1,948,720$1,761,497$1,708,484$2,012,711
59$2,097,694$1,798,014$1,715,922$2,119,984
60$2,260,294$1,834,752$1,722,041$2,236,180
61$2,437,861$1,871,672$1,726,747$2,362,184
62$2,631,871$1,908,733$1,729,941$2,498,968
63$2,843,949$1,945,887$1,731,521$2,647,609
64$3,075,883$1,983,087$1,731,378$2,809,290
65$3,329,642$2,020,278$1,729,398$2,985,317
66$3,607,396$2,057,401$1,725,463$3,177,131
67$3,911,531$2,094,395$1,719,447$3,386,318
68$4,244,678$2,131,191$1,711,220$3,614,630
69$4,609,732$2,167,717$1,700,643$3,863,995
70$5,009,883$2,203,893$1,687,572$4,136,543
71$5,448,643$2,239,635$1,671,858$4,434,619
72$5,929,881$2,274,854$1,653,341$4,760,810
73$6,457,857$2,309,450$1,631,857$5,117,968
74$7,037,266$2,343,320$1,607,231$5,509,237
75$7,673,276$2,376,352$1,579,283$5,938,085
76$8,371,584$2,408,427$1,547,822$6,408,332
77$9,138,460$2,439,415$1,512,649$6,924,194
78$9,980,818$2,469,181$1,473,557$7,490,315
79$10,906,268$2,497,577$1,430,328$8,111,817
80$11,923,197$2,524,448$1,382,734$8,794,348
81$13,040,844$2,549,627$1,330,537$9,544,131
82$14,269,388$2,572,937$1,273,488$10,368,029
83$15,620,043$2,594,188$1,211,326$11,273,607
84$17,105,162$2,613,178$1,143,781$12,269,206
85$18,738,357$2,629,693$1,070,566$13,364,019
86$20,534,626$2,643,503$991,386$14,568,182
87$22,510,489$2,654,367$905,929$15,892,867
88$24,684,153$2,662,025$813,872$17,350,390
89$27,075,675$2,666,202$714,875$18,954,327
90$29,707,154$2,666,607$608,584$20,719,645
91$32,602,942$2,662,928$494,629$22,662,839
92$35,789,869$2,654,838$372,626$24,802,096
93$39,297,497$2,641,987$242,170$27,157,458
94$43,158,400$2,624,003$102,842$29,751,022
95$47,408,471$2,600,494$0$32,607,140
96$52,087,259$2,571,042$0$35,767,334
97$57,238,342$2,535,205$0$39,282,601
98$62,909,737$2,492,515$0$43,152,756
99$69,154,358$2,442,475$0$47,413,907
100$76,030,506$2,384,560$0$52,105,844