Can I retire at age 57 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$160,203$158,776$157,384$156,025$154,698$152,261
2 years$79,309$77,832$76,400$75,012$73,666$71,217
3 years$52,347$50,864$49,436$48,061$46,737$44,352
4 years$38,869$37,390$35,977$34,625$33,333$31,031
5 years$30,784$29,314$27,919$26,596$25,339$23,126
6 years$25,396$23,937$22,563$21,269$20,050$17,929
7 years$21,549$20,103$18,750$17,486$16,306$14,277
8 years$18,665$17,232$15,901$14,669$13,527$11,591
9 years$16,423$15,003$13,696$12,494$11,392$9,547
10 years$14,631$13,225$11,940$10,770$9,707$7,951
11 years$13,165$11,773$10,512$9,373$8,348$6,680
12 years$11,945$10,567$9,329$8,222$7,234$5,652
13 years$10,913$9,549$8,335$7,259$6,308$4,810
14 years$10,029$8,680$7,489$6,443$5,530$4,112
15 years$9,264$7,929$6,762$5,746$4,869$3,530
16 years$8,595$7,275$6,130$5,145$4,303$3,040
17 years$8,005$6,700$5,578$4,623$3,816$2,625
18 years$7,482$6,191$5,092$4,166$3,393$2,273
19 years$7,014$5,738$4,662$3,765$3,024$1,971
20 years$6,593$5,332$4,278$3,409$2,701$1,713
21 years$6,213$4,967$3,935$3,094$2,417$1,490
22 years$5,868$4,636$3,627$2,813$2,167$1,298
23 years$5,554$4,336$3,349$2,562$1,945$1,132
24 years$5,266$4,063$3,097$2,337$1,748$989
25 years$5,002$3,813$2,869$2,134$1,573$864
26 years$4,758$3,583$2,660$1,951$1,417$755
27 years$4,533$3,372$2,470$1,786$1,277$661
28 years$4,324$3,178$2,297$1,637$1,153$578
29 years$4,130$2,998$2,137$1,501$1,041$507
30 years$3,949$2,831$1,991$1,377$940$444
31 years$3,780$2,676$1,856$1,265$850$389
32 years$3,622$2,532$1,732$1,163$769$341
33 years$3,474$2,398$1,617$1,069$696$299
34 years$3,335$2,273$1,511$984$630$262
35 years$3,204$2,156$1,412$905$571$230
36 years$3,081$2,046$1,321$834$517$202
37 years$2,965$1,943$1,237$768$469$177
38 years$2,855$1,847$1,158$708$425$156
39 years$2,751$1,756$1,085$653$385$137
40 years$2,652$1,671$1,017$602$350$120
41 years$2,559$1,591$954$556$317$105
42 years$2,470$1,515$894$513$288$93
43 years$2,385$1,443$839$473$261$81
44 years$2,305$1,376$788$437$237$71
45 years$2,228$1,312$740$404$215$63
46 years$2,155$1,251$695$373$195$55
47 years$2,086$1,194$653$345$177$48
48 years$2,019$1,140$613$318$161$43
49 years$1,955$1,089$577$294$146$37
50 years$1,894$1,040$542$272$133$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,940,000, adding $2,914 every year, while hoping to spend $46,830 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: 76/14/10 Blend
56$1,940,000$1,940,000$1,940,000$1,940,000
57$2,140,886$2,038,066$2,007,996$2,299,608
58$2,309,429$2,088,104$2,025,437$2,454,552
59$2,493,595$2,139,025$2,041,893$2,618,111
60$2,694,926$2,190,822$2,057,281$2,796,070
61$2,915,123$2,243,487$2,071,514$2,989,841
62$3,156,058$2,297,010$2,084,502$3,200,983
63$3,419,791$2,351,379$2,096,149$3,431,209
64$3,708,593$2,406,579$2,106,352$3,682,408
65$4,024,961$2,462,593$2,115,007$3,956,659
66$4,371,649$2,519,402$2,122,001$4,256,254
67$4,751,687$2,576,983$2,127,219$4,583,716
68$5,168,415$2,635,311$2,130,536$4,941,824
69$5,625,508$2,694,356$2,131,824$5,333,641
70$6,127,018$2,754,087$2,130,947$5,762,541
71$6,677,404$2,814,467$2,127,764$6,232,238
72$7,281,580$2,875,458$2,122,126$6,746,829
73$7,944,960$2,937,013$2,113,875$7,310,822
74$8,673,505$2,999,086$2,102,849$7,929,189
75$9,473,784$3,061,623$2,088,876$8,607,404
76$10,353,031$3,124,564$2,071,775$9,351,502
77$11,319,220$3,187,847$2,051,359$10,168,128
78$12,381,130$3,251,401$2,027,429$11,064,607
79$13,548,436$3,315,150$1,999,779$12,049,010
80$14,831,797$3,379,014$1,968,192$13,130,230
81$16,242,956$3,442,901$1,932,442$14,318,063
82$17,794,850$3,506,715$1,892,291$15,623,309
83$19,501,733$3,570,353$1,847,491$17,057,863
84$21,379,310$3,633,700$1,797,783$18,634,836
85$23,444,884$3,696,637$1,742,893$20,368,675
86$25,717,522$3,759,031$1,682,539$22,275,298
87$28,218,227$3,820,742$1,616,423$24,372,246
88$30,970,147$3,881,618$1,544,233$26,678,852
89$33,998,783$3,941,498$1,465,646$29,216,416
90$37,332,234$4,000,207$1,380,321$32,008,412
91$41,001,463$4,057,559$1,287,903$35,080,708
92$45,040,586$4,113,353$1,188,021$38,461,808
93$49,487,194$4,167,375$1,080,288$42,183,126
94$54,382,708$4,219,398$964,298$46,279,278
95$59,772,772$4,269,175$839,630$50,788,410
96$65,707,677$4,316,447$705,840$55,752,561
97$72,242,843$4,360,936$562,468$61,218,056
98$79,439,334$4,402,343$409,031$67,235,946
99$87,364,440$4,440,352$245,028$73,862,490
100$96,092,310$4,474,626$69,934$81,159,684