Can I retire at age 57 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$184,977$183,329$181,722$180,153$178,621$172,352
2 years$91,573$89,867$88,215$86,612$85,057$78,807
3 years$60,442$58,729$57,081$55,493$53,964$47,929
4 years$44,880$43,172$41,540$39,980$38,488$32,714
5 years$35,545$33,848$32,237$30,708$29,258$23,761
6 years$29,324$27,639$26,052$24,558$23,151$17,935
7 years$24,882$23,211$21,649$20,190$18,828$13,891
8 years$21,552$19,896$18,360$16,937$15,619$10,959
9 years$18,963$17,323$15,814$14,427$13,154$8,763
10 years$16,893$15,270$13,787$12,436$11,208$7,079
11 years$15,201$13,594$12,138$10,823$9,639$5,764
12 years$13,792$12,201$10,772$9,493$8,353$4,723
13 years$12,600$11,026$9,624$8,381$7,284$3,889
14 years$11,580$10,022$8,647$7,440$6,385$3,215
15 years$10,696$9,156$7,807$6,635$5,622$2,667
16 years$9,924$8,400$7,078$5,941$4,969$2,218
17 years$9,243$7,736$6,441$5,338$4,406$1,848
18 years$8,639$7,149$5,880$4,810$3,917$1,543
19 years$8,099$6,625$5,383$4,347$3,491$1,290
20 years$7,613$6,157$4,940$3,937$3,119$1,080
21 years$7,174$5,735$4,544$3,573$2,791$905
22 years$6,776$5,353$4,188$3,249$2,502$759
23 years$6,413$5,007$3,867$2,959$2,246$637
24 years$6,080$4,691$3,576$2,698$2,018$535
25 years$5,775$4,402$3,312$2,464$1,816$450
26 years$5,494$4,137$3,072$2,253$1,636$378
27 years$5,234$3,894$2,853$2,062$1,475$318
28 years$4,992$3,669$2,652$1,890$1,331$267
29 years$4,768$3,461$2,468$1,733$1,202$225
30 years$4,560$3,269$2,299$1,590$1,086$189
31 years$4,365$3,090$2,143$1,461$982$159
32 years$4,182$2,924$1,999$1,342$888$134
33 years$4,012$2,769$1,867$1,234$804$113
34 years$3,851$2,624$1,744$1,136$728$95
35 years$3,700$2,489$1,631$1,045$659$80
36 years$3,558$2,363$1,526$963$597$67
37 years$3,423$2,244$1,428$887$541$57
38 years$3,296$2,132$1,337$818$491$48
39 years$3,176$2,028$1,253$754$445$40
40 years$3,062$1,929$1,174$695$404$34
41 years$2,954$1,836$1,101$642$366$29
42 years$2,852$1,749$1,033$592$332$24
43 years$2,754$1,666$969$547$302$20
44 years$2,661$1,588$910$505$274$17
45 years$2,573$1,515$854$466$248$14
46 years$2,489$1,445$802$431$226$12
47 years$2,408$1,379$754$398$205$10
48 years$2,331$1,316$708$368$186$9
49 years$2,257$1,257$666$340$169$7
50 years$2,187$1,201$626$314$153$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,240,000, adding $3,139 every year, while hoping to spend $36,326 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: 29/42/29 Blend
56$2,240,000$2,240,000$2,240,000$2,240,000
57$2,471,718$2,352,998$2,318,278$2,521,224
58$2,685,183$2,429,644$2,357,290$2,637,413
59$2,919,203$2,508,829$2,396,391$2,758,880
60$3,175,838$2,590,637$2,435,546$2,888,749
61$3,457,354$2,675,159$2,474,717$3,027,773
62$3,766,249$2,762,487$2,513,865$3,176,777
63$4,105,272$2,852,715$2,552,946$3,336,670
64$4,477,454$2,945,942$2,591,914$3,508,451
65$4,886,133$3,042,271$2,630,721$3,693,216
66$5,334,983$3,141,808$2,669,315$3,892,171
67$5,828,057$3,244,661$2,707,642$4,106,643
68$6,369,814$3,350,945$2,745,643$4,338,091
69$6,965,170$3,460,777$2,783,258$4,588,117
70$7,619,540$3,574,277$2,820,420$4,858,487
71$8,338,889$3,691,573$2,857,060$5,151,143
72$9,129,790$3,812,794$2,893,106$5,468,219
73$9,999,484$3,938,076$2,928,480$5,812,067
74$10,955,947$4,067,558$2,963,100$6,185,273
75$12,007,970$4,201,385$2,996,880$6,590,684
76$13,165,237$4,339,706$3,029,729$7,031,434
77$14,438,417$4,482,678$3,061,551$7,510,972
78$15,839,266$4,630,460$3,092,244$8,033,096
79$17,380,739$4,783,220$3,121,701$8,601,987
80$19,077,106$4,941,130$3,149,810$9,222,248
81$20,944,095$5,104,368$3,176,452$9,898,949
82$22,999,031$5,273,121$3,201,502$10,637,672
83$25,261,008$5,447,580$3,224,828$11,444,562
84$27,751,063$5,627,944$3,246,292$12,326,390
85$30,492,377$5,814,418$3,265,749$13,290,611
86$33,510,492$6,007,217$3,283,044$14,345,435
87$36,833,553$6,206,562$3,298,017$15,499,908
88$40,492,574$6,412,682$3,310,499$16,763,990
89$44,521,728$6,625,815$3,320,312$18,148,655
90$48,958,671$6,846,207$3,327,270$19,665,990
91$53,844,898$7,074,114$3,331,176$21,329,309
92$59,226,132$7,309,800$3,331,825$23,153,280
93$65,152,758$7,553,539$3,329,000$25,154,060
94$71,680,294$7,805,618$3,322,477$27,349,451
95$78,869,920$8,066,329$3,312,016$29,759,064
96$86,789,053$8,335,980$3,297,369$32,404,503
97$95,511,980$8,614,888$3,278,276$35,309,571
98$105,120,566$8,903,381$3,254,461$38,500,494
99$115,705,017$9,201,800$3,225,640$42,006,165
100$127,364,741$9,510,500$3,191,510$45,858,417