Can I retire at age 57 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$195,712$193,969$192,268$190,608$188,987$184,269
2 years$96,887$95,083$93,334$91,639$89,994$85,270
3 years$63,950$62,138$60,393$58,714$57,096$52,514
4 years$47,484$45,678$43,951$42,300$40,721$36,317
5 years$37,608$35,812$34,108$32,490$30,956$26,741
6 years$31,025$29,243$27,564$25,983$24,494$20,474
7 years$26,326$24,558$22,906$21,362$19,920$16,094
8 years$22,802$21,051$19,426$17,920$16,526$12,893
9 years$20,064$18,329$16,732$15,264$13,917$10,474
10 years$17,874$16,156$14,587$13,158$11,858$8,600
11 years$16,083$14,383$12,842$11,451$10,198$7,121
12 years$14,592$12,909$11,397$10,044$8,838$5,936
13 years$13,332$11,666$10,183$8,867$7,707$4,975
14 years$12,252$10,604$9,149$7,872$6,756$4,188
15 years$11,317$9,687$8,260$7,020$5,948$3,538
16 years$10,500$8,888$7,489$6,286$5,257$2,998
17 years$9,780$8,185$6,815$5,648$4,661$2,546
18 years$9,140$7,564$6,221$5,090$4,145$2,167
19 years$8,569$7,010$5,695$4,599$3,694$1,848
20 years$8,055$6,514$5,227$4,165$3,300$1,578
21 years$7,591$6,067$4,808$3,780$2,953$1,349
22 years$7,169$5,664$4,431$3,437$2,647$1,155
23 years$6,785$5,297$4,091$3,130$2,376$989
24 years$6,433$4,963$3,784$2,855$2,136$848
25 years$6,110$4,658$3,504$2,607$1,922$728
26 years$5,813$4,377$3,250$2,384$1,731$625
27 years$5,537$4,120$3,018$2,182$1,561$537
28 years$5,282$3,882$2,806$1,999$1,408$461
29 years$5,045$3,662$2,611$1,833$1,272$396
30 years$4,824$3,458$2,432$1,683$1,149$341
31 years$4,618$3,269$2,267$1,545$1,039$293
32 years$4,425$3,094$2,115$1,420$940$252
33 years$4,244$2,930$1,975$1,306$850$217
34 years$4,074$2,777$1,845$1,202$770$187
35 years$3,915$2,634$1,725$1,106$697$161
36 years$3,764$2,500$1,614$1,019$632$138
37 years$3,622$2,374$1,511$939$573$119
38 years$3,488$2,256$1,415$865$519$102
39 years$3,361$2,145$1,325$798$471$88
40 years$3,240$2,041$1,242$736$427$76
41 years$3,126$1,943$1,165$679$387$65
42 years$3,017$1,851$1,093$626$352$56
43 years$2,914$1,763$1,025$578$319$48
44 years$2,816$1,681$963$534$290$42
45 years$2,722$1,603$904$493$263$36
46 years$2,633$1,529$849$456$239$31
47 years$2,548$1,459$797$421$217$27
48 years$2,466$1,393$749$389$197$23
49 years$2,388$1,330$704$359$179$20
50 years$2,314$1,271$662$332$162$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,370,000, adding $3,354 every year, while hoping to spend $37,324 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: 45/43/12 Blend
56$2,370,000$2,370,000$2,370,000$2,370,000
57$2,615,200$2,489,590$2,452,855$2,723,814
58$2,842,238$2,571,867$2,495,313$2,881,846
59$3,091,182$2,656,925$2,537,942$3,049,040
60$3,364,229$2,744,861$2,580,710$3,229,505
61$3,663,796$2,835,774$2,623,579$3,424,479
62$3,992,545$2,929,770$2,666,511$3,635,327
63$4,353,411$3,026,954$2,709,465$3,863,545
64$4,749,625$3,127,441$2,752,398$4,110,782
65$5,184,745$3,231,344$2,795,262$4,378,848
66$5,662,693$3,338,784$2,838,007$4,669,738
67$6,187,789$3,449,886$2,880,582$4,985,641
68$6,764,791$3,564,777$2,922,929$5,328,970
69$7,398,942$3,683,593$2,964,989$5,702,377
70$8,096,016$3,806,471$3,006,698$6,108,780
71$8,862,376$3,933,556$3,047,989$6,551,392
72$9,705,034$4,064,995$3,088,792$7,033,747
73$10,631,711$4,200,943$3,129,030$7,559,737
74$11,650,918$4,341,562$3,168,625$8,133,642
75$12,772,028$4,487,015$3,207,491$8,760,176
76$14,005,373$4,637,477$3,245,540$9,444,530
77$15,362,333$4,793,125$3,282,677$10,192,416
78$16,855,448$4,954,145$3,318,803$11,010,123
79$18,498,534$5,120,729$3,353,814$11,904,577
80$20,306,816$5,293,076$3,387,598$12,883,405
81$22,297,067$5,471,393$3,420,039$13,955,003
82$24,487,772$5,655,894$3,451,014$15,128,619
83$26,899,294$5,846,803$3,480,393$16,414,437
84$29,554,076$6,044,351$3,508,040$17,823,673
85$32,476,844$6,248,776$3,533,811$19,368,679
86$35,694,845$6,460,328$3,557,556$21,063,060
87$39,238,100$6,679,265$3,579,115$22,921,802
88$43,139,692$6,905,855$3,598,322$24,961,409
89$47,436,075$7,140,376$3,615,000$27,200,065
90$52,167,417$7,383,117$3,628,964$29,657,794
91$57,377,981$7,634,377$3,640,022$32,356,660
92$63,116,541$7,894,468$3,647,969$35,320,964
93$69,436,844$8,163,713$3,652,592$38,577,478
94$76,398,113$8,442,446$3,653,665$42,155,697
95$84,065,612$8,731,017$3,650,954$46,088,110
96$92,511,255$9,029,787$3,644,211$50,410,514
97$101,814,288$9,339,132$3,633,178$55,162,344
98$112,062,037$9,659,441$3,617,581$60,387,048
99$123,350,732$9,991,121$3,597,137$66,132,494
100$135,786,412$10,334,591$3,571,546$72,451,420