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%14.1%
1 years$168,461$166,961$165,497$164,068$162,672$159,912
2 years$83,397$81,843$80,338$78,879$77,463$74,690
3 years$55,046$53,486$51,984$50,538$49,146$46,447
4 years$40,873$39,318$37,831$36,410$35,051$32,447
5 years$32,371$30,825$29,359$27,966$26,645$24,144
6 years$26,705$25,171$23,726$22,365$21,084$18,688
7 years$22,660$21,139$19,716$18,387$17,147$14,857
8 years$19,627$18,120$16,721$15,425$14,225$12,040
9 years$17,270$15,777$14,402$13,138$11,979$9,899
10 years$15,385$13,906$12,556$11,326$10,207$8,229
11 years$13,844$12,380$11,054$9,857$8,778$6,901
12 years$12,560$11,112$9,810$8,646$7,607$5,828
13 years$11,475$10,042$8,765$7,633$6,634$4,950
14 years$10,546$9,128$7,875$6,775$5,815$4,223
15 years$9,741$8,338$7,110$6,043$5,120$3,618
16 years$9,038$7,650$6,446$5,410$4,525$3,109
17 years$8,418$7,045$5,866$4,861$4,012$2,679
18 years$7,867$6,510$5,355$4,381$3,567$2,314
19 years$7,376$6,034$4,902$3,959$3,180$2,003
20 years$6,933$5,607$4,499$3,585$2,840$1,736
21 years$6,534$5,223$4,138$3,254$2,542$1,507
22 years$6,171$4,875$3,814$2,958$2,278$1,310
23 years$5,840$4,560$3,522$2,694$2,045$1,140
24 years$5,538$4,272$3,257$2,457$1,838$993
25 years$5,259$4,009$3,016$2,244$1,654$866
26 years$5,003$3,768$2,798$2,052$1,490$755
27 years$4,766$3,546$2,598$1,878$1,343$659
28 years$4,547$3,341$2,415$1,721$1,212$576
29 years$4,343$3,152$2,247$1,578$1,094$503
30 years$4,153$2,977$2,093$1,448$989$439
31 years$3,975$2,814$1,952$1,330$894$384
32 years$3,809$2,663$1,821$1,222$809$336
33 years$3,653$2,522$1,700$1,124$732$294
34 years$3,507$2,390$1,589$1,034$663$257
35 years$3,370$2,267$1,485$952$600$225
36 years$3,240$2,152$1,389$877$544$197
37 years$3,118$2,044$1,300$808$493$173
38 years$3,002$1,942$1,218$745$447$151
39 years$2,893$1,847$1,141$687$405$132
40 years$2,789$1,757$1,069$633$368$116
41 years$2,691$1,673$1,003$584$333$101
42 years$2,597$1,593$941$539$303$89
43 years$2,508$1,518$883$498$275$78
44 years$2,424$1,447$828$460$249$68
45 years$2,343$1,380$778$424$226$60
46 years$2,266$1,316$731$392$205$52
47 years$2,193$1,256$686$362$187$46
48 years$2,123$1,199$645$335$169$40
49 years$2,056$1,145$606$309$154$35
50 years$1,992$1,094$570$286$140$31

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 $5,821 every year, while hoping to spend $50,907 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: 73/20/7 Blend
56$2,040,000$2,040,000$2,040,000$2,040,000
57$2,254,084$2,145,964$2,114,344$2,415,986
58$2,429,836$2,196,952$2,131,010$2,574,486
59$2,621,809$2,248,732$2,146,528$2,741,053
60$2,831,603$2,301,289$2,160,806$2,922,036
61$3,060,980$2,354,606$2,173,747$3,118,840
62$3,311,881$2,408,663$2,185,249$3,333,016
63$3,586,443$2,463,437$2,195,204$3,566,269
64$3,887,017$2,518,903$2,203,501$3,820,478
65$4,216,195$2,575,031$2,210,021$4,097,714
66$4,576,830$2,631,790$2,214,639$4,400,256
67$4,972,062$2,689,144$2,217,225$4,730,614
68$5,405,352$2,747,052$2,217,642$5,091,553
69$5,880,512$2,805,471$2,215,747$5,486,121
70$6,401,738$2,864,353$2,211,388$5,917,672
71$6,973,653$2,923,644$2,204,408$6,389,904
72$7,601,351$2,983,288$2,194,640$6,906,889
73$8,290,439$3,043,220$2,181,912$7,473,114
74$9,047,098$3,103,372$2,166,040$8,093,523
75$9,878,134$3,163,669$2,146,834$8,773,562
76$10,791,045$3,224,029$2,124,093$9,519,231
77$11,794,090$3,284,366$2,097,610$10,337,142
78$12,896,371$3,344,583$2,067,163$11,234,580
79$14,107,912$3,404,579$2,032,524$12,219,572
80$15,439,757$3,464,242$1,993,452$13,300,962
81$16,904,075$3,523,452$1,949,696$14,488,496
82$18,514,272$3,582,082$1,900,991$15,792,914
83$20,285,117$3,639,994$1,847,064$17,226,047
84$22,232,883$3,697,038$1,787,625$18,800,936
85$24,375,501$3,753,056$1,722,374$20,531,949
86$26,732,723$3,807,877$1,650,994$22,434,919
87$29,326,316$3,861,318$1,573,158$24,527,294
88$32,180,262$3,913,184$1,488,520$26,828,301
89$35,320,984$3,963,265$1,396,721$29,359,126
90$38,777,597$4,011,338$1,297,384$32,143,119
91$42,582,181$4,057,163$1,190,116$35,206,007
92$46,770,085$4,100,486$1,074,506$38,576,145
93$51,380,258$4,141,034$950,126$42,284,778
94$56,455,617$4,178,517$816,528$46,366,337
95$62,043,451$4,212,625$673,243$50,858,767
96$68,195,869$4,243,030$519,783$55,803,884
97$74,970,289$4,269,381$355,637$61,247,767
98$82,429,982$4,291,303$180,273$67,241,199
99$90,644,663$4,308,400$0$73,840,141
100$99,691,157$4,320,250$0$81,106,778