Can I retire at age 57 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$183,326$181,693$180,099$178,544$177,026$173,807
2 years$90,755$89,065$87,427$85,839$84,298$81,067
3 years$59,902$58,205$56,571$54,998$53,482$50,339
4 years$44,479$42,787$41,169$39,623$38,144$35,113
5 years$35,228$33,545$31,949$30,434$28,996$26,087
6 years$29,062$27,392$25,820$24,338$22,944$20,158
7 years$24,659$23,004$21,456$20,010$18,660$15,999
8 years$21,359$19,719$18,197$16,786$15,480$12,944
9 years$18,794$17,169$15,673$14,298$13,036$10,623
10 years$16,742$15,133$13,664$12,325$11,108$8,815
11 years$15,065$13,472$12,029$10,726$9,553$7,378
12 years$13,669$12,092$10,676$9,408$8,278$6,219
13 years$12,488$10,928$9,538$8,306$7,219$5,271
14 years$11,477$9,933$8,570$7,373$6,328$4,489
15 years$10,601$9,074$7,738$6,576$5,572$3,837
16 years$9,835$8,325$7,015$5,888$4,924$3,290
17 years$9,161$7,667$6,384$5,290$4,366$2,829
18 years$8,562$7,085$5,827$4,768$3,882$2,439
19 years$8,026$6,566$5,335$4,308$3,460$2,106
20 years$7,545$6,102$4,896$3,902$3,091$1,821
21 years$7,110$5,683$4,503$3,541$2,766$1,578
22 years$6,715$5,305$4,150$3,220$2,479$1,368
23 years$6,356$4,962$3,832$2,932$2,226$1,188
24 years$6,026$4,649$3,544$2,674$2,000$1,032
25 years$5,724$4,363$3,283$2,442$1,800$898
26 years$5,445$4,100$3,044$2,233$1,621$781
27 years$5,187$3,859$2,827$2,044$1,462$680
28 years$4,948$3,636$2,628$1,873$1,319$592
29 years$4,726$3,430$2,446$1,717$1,191$516
30 years$4,519$3,240$2,278$1,576$1,076$450
31 years$4,326$3,062$2,124$1,448$973$393
32 years$4,145$2,898$1,982$1,330$880$343
33 years$3,976$2,744$1,850$1,223$797$299
34 years$3,817$2,601$1,729$1,126$721$261
35 years$3,667$2,467$1,616$1,036$653$228
36 years$3,526$2,341$1,512$954$592$199
37 years$3,393$2,224$1,415$879$536$174
38 years$3,267$2,113$1,325$810$486$152
39 years$3,148$2,010$1,242$747$441$132
40 years$3,035$1,912$1,164$689$400$116
41 years$2,928$1,820$1,091$636$363$101
42 years$2,826$1,733$1,024$587$329$88
43 years$2,730$1,652$960$542$299$77
44 years$2,638$1,574$902$500$271$67
45 years$2,550$1,501$847$462$246$59
46 years$2,466$1,432$795$427$224$51
47 years$2,387$1,367$747$394$203$45
48 years$2,310$1,305$702$364$184$39
49 years$2,237$1,246$660$337$167$34
50 years$2,167$1,190$620$311$152$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,220,000, adding $4,644 every year, while hoping to spend $20,874 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: 64/22/14 Blend
56$2,220,000$2,220,000$2,220,000$2,220,000
57$2,451,230$2,333,570$2,299,160$2,599,624
58$2,679,046$2,425,705$2,353,972$2,791,672
59$2,929,399$2,521,656$2,409,921$2,998,536
60$3,204,567$2,621,586$2,467,022$3,223,988
61$3,507,057$2,725,668$2,525,292$3,469,840
62$3,839,634$2,834,083$2,584,746$3,738,084
63$4,205,342$2,947,017$2,645,400$4,030,913
64$4,607,534$3,064,669$2,707,269$4,350,741
65$5,049,908$3,187,243$2,770,367$4,700,224
66$5,536,534$3,314,954$2,834,711$5,082,285
67$6,071,900$3,448,026$2,900,313$5,500,142
68$6,660,948$3,586,693$2,967,187$5,957,338
69$7,309,125$3,731,202$3,035,349$6,457,774
70$8,022,432$3,881,807$3,104,809$7,005,741
71$8,807,482$4,038,777$3,175,582$7,605,968
72$9,671,559$4,202,391$3,247,678$8,263,660
73$10,622,692$4,372,942$3,321,109$8,984,547
74$11,669,727$4,550,737$3,395,887$9,774,941
75$12,822,411$4,736,094$3,472,020$10,641,791
76$14,091,482$4,929,348$3,549,518$11,592,750
77$15,488,777$5,130,850$3,628,391$12,636,247
78$17,027,334$5,340,963$3,708,644$13,781,564
79$18,721,523$5,560,072$3,790,284$15,038,925
80$20,587,178$5,788,575$3,873,318$16,419,590
81$22,641,745$6,026,890$3,957,749$17,935,962
82$24,904,450$6,275,455$4,043,581$19,601,701
83$27,396,479$6,534,727$4,130,816$21,431,855
84$30,141,175$6,805,184$4,219,454$23,442,998
85$33,164,264$7,087,327$4,309,494$25,653,389
86$36,494,091$7,381,678$4,400,935$28,083,141
87$40,161,894$7,688,785$4,493,771$30,754,410
88$44,202,092$8,009,221$4,587,998$33,691,604
89$48,652,617$8,343,585$4,683,607$36,921,612
90$53,555,266$8,692,502$4,780,590$40,474,055
91$58,956,097$9,056,629$4,878,934$44,381,569
92$64,905,866$9,436,651$4,978,626$48,680,105
93$71,460,504$9,833,286$5,079,649$53,409,274
94$78,681,643$10,247,285$5,181,985$58,612,716
95$86,637,201$10,679,433$5,285,612$64,338,510
96$95,402,023$11,130,552$5,390,507$70,639,628
97$105,058,583$11,601,502$5,496,643$77,574,433
98$115,697,767$12,093,185$5,603,989$85,207,228
99$127,419,728$12,606,540$5,712,512$93,608,863
100$140,334,835$13,142,555$5,822,175$102,857,399