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%12.7%
1 years$193,235$191,514$189,834$188,195$186,595$184,493
2 years$95,661$93,879$92,153$90,479$88,855$86,738
3 years$63,140$61,351$59,629$57,970$56,373$54,308
4 years$46,883$45,100$43,395$41,764$40,206$38,209
5 years$37,132$35,359$33,676$32,079$30,564$28,640
6 years$30,633$28,873$27,215$25,654$24,184$22,336
7 years$25,992$24,247$22,616$21,092$19,668$17,896
8 years$22,514$20,785$19,180$17,693$16,317$14,621
9 years$19,810$18,097$16,520$15,071$13,741$12,121
10 years$17,647$15,951$14,402$12,991$11,708$10,163
11 years$15,880$14,201$12,680$11,306$10,069$8,597
12 years$14,408$12,746$11,253$9,917$8,726$7,326
13 years$13,163$11,518$10,054$8,755$7,609$6,279
14 years$12,097$10,470$9,033$7,772$6,670$5,408
15 years$11,174$9,564$8,156$6,931$5,873$4,677
16 years$10,367$8,775$7,394$6,206$5,190$4,059
17 years$9,656$8,082$6,729$5,576$4,602$3,532
18 years$9,024$7,468$6,142$5,025$4,092$3,082
19 years$8,460$6,921$5,623$4,541$3,647$2,695
20 years$7,953$6,431$5,161$4,112$3,258$2,360
21 years$7,495$5,991$4,747$3,732$2,915$2,071
22 years$7,078$5,592$4,375$3,394$2,613$1,819
23 years$6,699$5,230$4,039$3,091$2,346$1,600
24 years$6,352$4,900$3,736$2,819$2,108$1,409
25 years$6,033$4,599$3,460$2,574$1,897$1,242
26 years$5,739$4,322$3,209$2,354$1,709$1,095
27 years$5,467$4,067$2,980$2,154$1,541$967
28 years$5,215$3,833$2,770$1,974$1,390$854
29 years$4,981$3,616$2,578$1,810$1,255$755
30 years$4,763$3,415$2,401$1,661$1,134$667
31 years$4,560$3,228$2,239$1,526$1,026$590
32 years$4,369$3,054$2,089$1,402$928$522
33 years$4,191$2,893$1,950$1,289$840$462
34 years$4,023$2,741$1,822$1,186$760$409
35 years$3,865$2,600$1,704$1,092$688$362
36 years$3,716$2,468$1,594$1,006$624$321
37 years$3,576$2,344$1,492$927$565$284
38 years$3,444$2,228$1,397$854$513$252
39 years$3,318$2,118$1,309$788$465$223
40 years$3,199$2,015$1,227$726$422$198
41 years$3,086$1,918$1,150$670$382$175
42 years$2,979$1,827$1,079$619$347$156
43 years$2,877$1,741$1,012$571$315$138
44 years$2,780$1,659$950$527$286$122
45 years$2,688$1,582$892$487$260$108
46 years$2,600$1,510$838$450$236$96
47 years$2,516$1,441$787$416$214$85
48 years$2,435$1,375$740$384$194$76
49 years$2,358$1,313$695$355$177$67
50 years$2,285$1,254$654$328$160$60

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 $2,716 every year, while hoping to spend $49,613 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: 42/33/25 Blend
56$2,340,000$2,340,000$2,340,000$2,340,000
57$2,581,482$2,457,462$2,421,192$2,670,899
58$2,792,005$2,525,089$2,449,514$2,802,812
59$3,022,339$2,594,368$2,477,122$2,940,647
60$3,274,451$2,665,326$2,503,939$3,088,943
61$3,550,510$2,737,992$2,529,886$3,248,692
62$3,852,902$2,812,394$2,554,877$3,420,987
63$4,184,256$2,888,558$2,578,823$3,607,031
64$4,547,466$2,966,514$2,601,630$3,808,148
65$4,945,720$3,046,286$2,623,197$4,025,798
66$5,382,530$3,127,901$2,643,421$4,261,588
67$5,861,764$3,211,383$2,662,192$4,517,290
68$6,387,682$3,296,759$2,679,393$4,794,852
69$6,964,976$3,384,050$2,694,902$5,096,425
70$7,598,814$3,473,280$2,708,593$5,424,374
71$8,294,892$3,564,469$2,720,330$5,781,309
72$9,059,481$3,657,639$2,729,971$6,170,103
73$9,899,492$3,752,806$2,737,368$6,593,921
74$10,822,536$3,849,989$2,742,365$7,056,254
75$11,836,998$3,949,203$2,744,799$7,560,946
76$12,952,119$4,050,461$2,744,497$8,112,233
77$14,178,077$4,153,775$2,741,279$8,714,783
78$15,526,084$4,259,153$2,734,955$9,373,742
79$17,008,496$4,366,604$2,725,328$10,094,779
80$18,638,925$4,476,129$2,712,188$10,884,141
81$20,432,368$4,587,732$2,695,319$11,748,715
82$22,405,349$4,701,410$2,674,492$12,696,089
83$24,576,073$4,817,158$2,649,466$13,734,625
84$26,964,601$4,934,967$2,619,991$14,873,541
85$29,593,035$5,054,825$2,585,805$16,122,994
86$32,485,726$5,176,714$2,546,632$17,494,180
87$35,669,510$5,300,612$2,502,184$18,999,435
88$39,173,953$5,426,495$2,452,159$20,652,358
89$43,031,632$5,554,329$2,396,243$22,467,935
90$47,278,445$5,684,078$2,334,104$24,462,684
91$51,953,948$5,815,699$2,265,398$26,654,807
92$57,101,724$5,949,142$2,189,762$29,064,367
93$62,769,801$6,084,351$2,106,820$31,713,476
94$69,011,098$6,221,261$2,016,176$34,626,504
95$75,883,929$6,359,802$1,917,416$37,830,309
96$83,452,550$6,499,892$1,810,110$41,354,492
97$91,787,767$6,641,444$1,693,805$45,231,679
98$100,967,602$6,784,357$1,568,031$49,497,825
99$111,078,031$6,928,525$1,432,294$54,192,558
100$122,213,793$7,073,826$1,286,079$59,359,555