Can I retire at age 57 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$193,235$191,514$189,834$188,195$186,595$180,694
2 years$95,661$93,879$92,153$90,479$88,855$82,963
3 years$63,140$61,351$59,629$57,970$56,373$50,676
4 years$46,883$45,100$43,395$41,764$40,206$34,746
5 years$37,132$35,359$33,676$32,079$30,564$25,357
6 years$30,633$28,873$27,215$25,654$24,184$19,234
7 years$25,992$24,247$22,616$21,092$19,668$14,975
8 years$22,514$20,785$19,180$17,693$16,317$11,876
9 years$19,810$18,097$16,520$15,071$13,741$9,549
10 years$17,647$15,951$14,402$12,991$11,708$7,758
11 years$15,880$14,201$12,680$11,306$10,069$6,354
12 years$14,408$12,746$11,253$9,917$8,726$5,238
13 years$13,163$11,518$10,054$8,755$7,609$4,340
14 years$12,097$10,470$9,033$7,772$6,670$3,610
15 years$11,174$9,564$8,156$6,931$5,873$3,014
16 years$10,367$8,775$7,394$6,206$5,190$2,522
17 years$9,656$8,082$6,729$5,576$4,602$2,116
18 years$9,024$7,468$6,142$5,025$4,092$1,779
19 years$8,460$6,921$5,623$4,541$3,647$1,498
20 years$7,953$6,431$5,161$4,112$3,258$1,262
21 years$7,495$5,991$4,747$3,732$2,915$1,065
22 years$7,078$5,592$4,375$3,394$2,613$900
23 years$6,699$5,230$4,039$3,091$2,346$761
24 years$6,352$4,900$3,736$2,819$2,108$643
25 years$6,033$4,599$3,460$2,574$1,897$545
26 years$5,739$4,322$3,209$2,354$1,709$461
27 years$5,467$4,067$2,980$2,154$1,541$391
28 years$5,215$3,833$2,770$1,974$1,390$331
29 years$4,981$3,616$2,578$1,810$1,255$280
30 years$4,763$3,415$2,401$1,661$1,134$238
31 years$4,560$3,228$2,239$1,526$1,026$202
32 years$4,369$3,054$2,089$1,402$928$171
33 years$4,191$2,893$1,950$1,289$840$145
34 years$4,023$2,741$1,822$1,186$760$123
35 years$3,865$2,600$1,704$1,092$688$104
36 years$3,716$2,468$1,594$1,006$624$89
37 years$3,576$2,344$1,492$927$565$75
38 years$3,444$2,228$1,397$854$513$64
39 years$3,318$2,118$1,309$788$465$54
40 years$3,199$2,015$1,227$726$422$46
41 years$3,086$1,918$1,150$670$382$39
42 years$2,979$1,827$1,079$619$347$33
43 years$2,877$1,741$1,012$571$315$28
44 years$2,780$1,659$950$527$286$24
45 years$2,688$1,582$892$487$260$20
46 years$2,600$1,510$838$450$236$17
47 years$2,516$1,441$787$416$214$15
48 years$2,435$1,375$740$384$194$12
49 years$2,358$1,313$695$355$177$11
50 years$2,285$1,254$654$328$160$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,340,000, adding $3,135 every year, while hoping to spend $45,806 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: 59/30/11 Blend
56$2,340,000$2,340,000$2,340,000$2,340,000
57$2,581,914$2,457,894$2,421,624$2,727,256
58$2,796,532$2,529,593$2,454,011$2,897,125
59$3,031,506$2,603,271$2,485,948$3,076,838
60$3,288,863$2,678,975$2,517,371$3,271,688
61$3,570,838$2,756,755$2,548,213$3,483,134
62$3,879,889$2,836,662$2,578,404$3,712,784
63$4,218,725$2,918,746$2,607,868$3,962,407
64$4,590,330$3,003,059$2,636,527$4,233,949
65$4,997,989$3,089,655$2,664,296$4,529,555
66$5,445,322$3,178,586$2,691,088$4,851,584
67$5,936,315$3,269,908$2,716,810$5,202,636
68$6,475,361$3,363,674$2,741,364$5,585,572
69$7,067,295$3,459,942$2,764,648$6,003,542
70$7,717,447$3,558,767$2,786,552$6,460,019
71$8,431,688$3,660,208$2,806,962$6,958,822
72$9,216,483$3,764,321$2,825,759$7,504,162
73$10,078,958$3,871,166$2,842,815$8,100,675
74$11,026,960$3,980,802$2,857,998$8,753,468
75$12,069,137$4,093,288$2,871,168$9,468,165
76$13,215,015$4,208,685$2,882,178$10,250,964
77$14,475,090$4,327,054$2,890,874$11,108,689
78$15,860,924$4,448,455$2,897,094$12,048,861
79$17,385,259$4,572,950$2,900,667$13,079,762
80$19,062,132$4,700,601$2,901,416$14,210,519
81$20,907,009$4,831,470$2,899,152$15,451,187
82$22,936,929$4,965,618$2,893,680$16,812,841
83$25,170,670$5,103,107$2,884,792$18,307,686
84$27,628,919$5,244,000$2,872,273$19,949,168
85$30,334,471$5,388,358$2,855,896$21,752,102
86$33,312,443$5,536,243$2,835,424$23,732,810
87$36,590,509$5,687,716$2,810,608$25,909,277
88$40,199,163$5,842,837$2,781,186$28,301,321
89$44,172,008$6,001,666$2,746,886$30,930,775
90$48,546,068$6,164,263$2,707,422$33,821,699
91$53,362,140$6,330,685$2,662,494$37,000,604
92$58,665,180$6,500,989$2,611,788$40,496,700
93$64,504,722$6,675,232$2,554,977$44,342,176
94$70,935,352$6,853,467$2,491,717$48,572,499
95$78,017,218$7,035,746$2,421,650$53,226,752
96$85,816,597$7,222,121$2,344,398$58,348,002
97$94,406,525$7,412,639$2,259,570$63,983,706
98$103,867,478$7,607,347$2,166,754$70,186,156
99$114,288,141$7,806,287$2,065,520$77,012,977
100$125,766,237$8,009,500$1,955,420$84,527,669