Can I retire at age 57 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$168,461$166,961$165,497$164,068$162,672$160,507
2 years$83,397$81,843$80,338$78,879$77,463$75,285
3 years$55,046$53,486$51,984$50,538$49,146$47,022
4 years$40,873$39,318$37,831$36,410$35,051$32,999
5 years$32,371$30,825$29,359$27,966$26,645$24,670
6 years$26,705$25,171$23,726$22,365$21,084$19,188
7 years$22,660$21,139$19,716$18,387$17,147$15,332
8 years$19,627$18,120$16,721$15,425$14,225$12,490
9 years$17,270$15,777$14,402$13,138$11,979$10,324
10 years$15,385$13,906$12,556$11,326$10,207$8,630
11 years$13,844$12,380$11,054$9,857$8,778$7,278
12 years$12,560$11,112$9,810$8,646$7,607$6,181
13 years$11,475$10,042$8,765$7,633$6,634$5,281
14 years$10,546$9,128$7,875$6,775$5,815$4,533
15 years$9,741$8,338$7,110$6,043$5,120$3,907
16 years$9,038$7,650$6,446$5,410$4,525$3,379
17 years$8,418$7,045$5,866$4,861$4,012$2,930
18 years$7,867$6,510$5,355$4,381$3,567$2,548
19 years$7,376$6,034$4,902$3,959$3,180$2,219
20 years$6,933$5,607$4,499$3,585$2,840$1,937
21 years$6,534$5,223$4,138$3,254$2,542$1,693
22 years$6,171$4,875$3,814$2,958$2,278$1,482
23 years$5,840$4,560$3,522$2,694$2,045$1,298
24 years$5,538$4,272$3,257$2,457$1,838$1,139
25 years$5,259$4,009$3,016$2,244$1,654$1,000
26 years$5,003$3,768$2,798$2,052$1,490$878
27 years$4,766$3,546$2,598$1,878$1,343$772
28 years$4,547$3,341$2,415$1,721$1,212$679
29 years$4,343$3,152$2,247$1,578$1,094$598
30 years$4,153$2,977$2,093$1,448$989$526
31 years$3,975$2,814$1,952$1,330$894$464
32 years$3,809$2,663$1,821$1,222$809$409
33 years$3,653$2,522$1,700$1,124$732$360
34 years$3,507$2,390$1,589$1,034$663$318
35 years$3,370$2,267$1,485$952$600$280
36 years$3,240$2,152$1,389$877$544$247
37 years$3,118$2,044$1,300$808$493$218
38 years$3,002$1,942$1,218$745$447$192
39 years$2,893$1,847$1,141$687$405$170
40 years$2,789$1,757$1,069$633$368$150
41 years$2,691$1,673$1,003$584$333$132
42 years$2,597$1,593$941$539$303$117
43 years$2,508$1,518$883$498$275$103
44 years$2,424$1,447$828$460$249$91
45 years$2,343$1,380$778$424$226$80
46 years$2,266$1,316$731$392$205$71
47 years$2,193$1,256$686$362$187$63
48 years$2,123$1,199$645$335$169$55
49 years$2,056$1,145$606$309$154$49
50 years$1,992$1,094$570$286$140$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,040,000, adding $4,522 every year, while hoping to spend $55,461 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: 79/13/8 Blend
56$2,040,000$2,040,000$2,040,000$2,040,000
57$2,252,744$2,144,624$2,113,004$2,427,942
58$2,423,514$2,190,701$2,124,780$2,589,575
59$2,609,844$2,237,176$2,135,091$2,759,147
60$2,813,262$2,284,012$2,143,831$2,943,519
61$3,035,450$2,331,164$2,150,885$3,144,143
62$3,278,262$2,378,587$2,156,135$3,362,614
63$3,543,737$2,426,230$2,159,458$3,600,691
64$3,834,119$2,474,036$2,160,720$3,860,310
65$4,151,881$2,521,946$2,159,786$4,143,605
66$4,499,745$2,569,893$2,156,512$4,452,923
67$4,880,709$2,617,808$2,150,745$4,790,854
68$5,298,074$2,665,614$2,142,328$5,160,247
69$5,755,476$2,713,227$2,131,094$5,564,243
70$6,256,918$2,760,559$2,116,869$6,006,302
71$6,806,811$2,807,513$2,099,471$6,490,233
72$7,410,010$2,853,986$2,078,708$7,020,237
73$8,071,866$2,899,866$2,054,380$7,600,938
74$8,798,272$2,945,035$2,026,277$8,237,434
75$9,595,718$2,989,364$1,994,180$8,935,340
76$10,471,355$3,032,716$1,957,858$9,700,842
77$11,433,057$3,074,944$1,917,071$10,540,759
78$12,489,503$3,115,890$1,871,566$11,462,601
79$13,650,249$3,155,386$1,821,081$12,474,646
80$14,925,827$3,193,252$1,765,339$13,586,012
81$16,327,836$3,229,295$1,704,053$14,806,751
82$17,869,056$3,263,312$1,636,920$16,147,935
83$19,563,568$3,295,082$1,563,625$17,621,766
84$21,426,884$3,324,374$1,483,838$19,241,691
85$23,476,095$3,350,937$1,397,215$21,022,527
86$25,730,031$3,374,507$1,303,396$22,980,601
87$28,209,438$3,394,802$1,202,005$25,133,905
88$30,937,176$3,411,523$1,092,647$27,502,267
89$33,938,431$3,424,350$974,913$30,107,537
90$37,240,951$3,432,943$848,373$32,973,790
91$40,875,314$3,436,943$712,579$36,127,561
92$44,875,209$3,435,967$567,064$39,598,089
93$49,277,757$3,429,606$411,338$43,417,595
94$54,123,862$3,417,431$244,891$47,621,588
95$59,458,592$3,398,981$67,191$52,249,198
96$65,331,609$3,373,772$0$57,343,548
97$71,797,634$3,341,286$0$62,962,610
98$78,916,962$3,300,979$0$69,155,101
99$86,756,034$3,252,269$0$75,973,043
100$95,388,062$3,194,543$0$83,480,088