Can I retire at age 57 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$171,764$170,234$168,742$167,285$165,862$164,404
2 years$85,032$83,448$81,913$80,425$78,982$77,512
3 years$56,125$54,534$53,003$51,529$50,109$48,674
4 years$41,674$40,089$38,573$37,124$35,738$34,349
5 years$33,006$31,430$29,934$28,515$27,168$25,827
6 years$27,229$25,665$24,191$22,803$21,497$20,208
7 years$23,104$21,553$20,103$18,748$17,483$16,245
8 years$20,012$18,475$17,049$15,727$14,504$13,318
9 years$17,609$16,086$14,684$13,396$12,214$11,080
10 years$15,687$14,179$12,802$11,548$10,407$9,323
11 years$14,115$12,623$11,271$10,050$8,950$7,916
12 years$12,807$11,329$10,003$8,815$7,756$6,771
13 years$11,700$10,239$8,937$7,782$6,764$5,826
14 years$10,753$9,307$8,030$6,908$5,929$5,038
15 years$9,932$8,502$7,250$6,161$5,220$4,375
16 years$9,215$7,800$6,573$5,517$4,614$3,812
17 years$8,583$7,184$5,981$4,957$4,091$3,332
18 years$8,022$6,638$5,460$4,467$3,637$2,919
19 years$7,520$6,152$4,998$4,036$3,242$2,563
20 years$7,069$5,717$4,587$3,656$2,896$2,255
21 years$6,662$5,325$4,219$3,318$2,591$1,988
22 years$6,292$4,971$3,889$3,016$2,323$1,754
23 years$5,955$4,649$3,591$2,747$2,085$1,550
24 years$5,646$4,356$3,321$2,506$1,874$1,371
25 years$5,363$4,088$3,076$2,288$1,686$1,214
26 years$5,101$3,842$2,852$2,092$1,519$1,076
27 years$4,860$3,616$2,649$1,915$1,370$954
28 years$4,636$3,407$2,462$1,755$1,236$847
29 years$4,428$3,214$2,291$1,609$1,116$752
30 years$4,234$3,035$2,134$1,477$1,008$668
31 years$4,053$2,869$1,990$1,356$912$594
32 years$3,884$2,715$1,857$1,246$825$528
33 years$3,725$2,571$1,733$1,146$746$470
34 years$3,576$2,437$1,620$1,055$676$418
35 years$3,436$2,311$1,514$971$612$372
36 years$3,304$2,194$1,417$894$554$331
37 years$3,179$2,084$1,326$824$503$295
38 years$3,061$1,980$1,242$759$456$263
39 years$2,949$1,883$1,163$700$413$234
40 years$2,844$1,791$1,090$646$375$208
41 years$2,743$1,705$1,022$596$340$186
42 years$2,648$1,624$959$550$309$166
43 years$2,558$1,547$900$508$280$148
44 years$2,471$1,475$845$469$254$131
45 years$2,389$1,407$793$433$231$117
46 years$2,311$1,342$745$400$209$104
47 years$2,236$1,280$700$369$190$93
48 years$2,165$1,222$658$341$173$83
49 years$2,096$1,167$618$315$157$74
50 years$2,031$1,115$581$292$143$66

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,080,000, adding $2,680 every year, while hoping to spend $42,276 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: 65/15/20 Blend
56$2,080,000$2,080,000$2,080,000$2,080,000
57$2,294,924$2,184,684$2,152,444$2,432,303
58$2,484,025$2,246,753$2,179,570$2,586,965
59$2,690,998$2,310,445$2,206,187$2,750,857
60$2,917,620$2,375,797$2,232,235$2,928,971
61$3,165,850$2,442,844$2,257,647$3,122,702
62$3,437,844$2,511,621$2,282,356$3,333,586
63$3,735,977$2,582,164$2,306,288$3,563,314
64$4,062,866$2,654,509$2,329,368$3,813,752
65$4,421,390$2,728,692$2,351,514$4,086,950
66$4,814,724$2,804,749$2,372,642$4,385,171
67$5,246,362$2,882,718$2,392,661$4,710,905
68$5,720,153$2,962,634$2,411,478$5,066,897
69$6,240,339$3,044,534$2,428,993$5,456,169
70$6,811,592$3,128,453$2,445,102$5,882,052
71$7,439,056$3,214,429$2,459,694$6,348,214
72$8,128,401$3,302,498$2,472,655$6,858,699
73$8,885,872$3,392,694$2,483,863$7,417,960
74$9,718,348$3,485,054$2,493,190$8,030,905
75$10,633,410$3,579,612$2,500,503$8,702,941
76$11,639,408$3,676,403$2,505,660$9,440,026
77$12,745,541$3,775,460$2,508,513$10,248,725
78$13,961,946$3,876,817$2,508,907$11,136,271
79$15,299,789$3,980,506$2,506,680$12,110,635
80$16,771,375$4,086,558$2,501,661$13,180,599
81$18,390,259$4,195,003$2,493,671$14,355,844
82$20,171,377$4,305,870$2,482,521$15,647,031
83$22,131,187$4,419,187$2,468,015$17,065,915
84$24,287,821$4,534,981$2,449,946$18,625,445
85$26,661,258$4,653,274$2,428,099$20,339,890
86$29,273,513$4,774,090$2,402,246$22,224,978
87$32,148,840$4,897,450$2,372,151$24,298,036
88$35,313,968$5,023,371$2,337,564$26,578,162
89$38,798,347$5,151,870$2,298,226$29,086,399
90$42,634,426$5,282,960$2,253,865$31,845,937
91$46,857,962$5,416,650$2,204,194$34,882,333
92$51,508,357$5,552,948$2,148,917$38,223,748
93$56,629,024$5,691,857$2,087,721$41,901,217
94$62,267,804$5,833,378$2,020,279$45,948,940
95$68,477,412$5,977,505$1,946,250$50,404,607
96$75,315,937$6,124,232$1,865,278$55,309,751
97$82,847,386$6,273,543$1,776,989$60,710,143
98$91,142,294$6,425,421$1,680,992$66,656,223
99$100,278,384$6,579,842$1,576,881$73,203,576
100$110,341,301$6,736,776$1,464,229$80,413,458