Can I retire at age 57 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$198,190$196,424$194,702$193,021$191,379$190,413
2 years$98,114$96,286$94,516$92,799$91,133$90,158
3 years$64,759$62,924$61,158$59,457$57,819$56,864
4 years$48,086$46,256$44,507$42,835$41,237$40,311
5 years$38,084$36,265$34,539$32,902$31,347$30,453
6 years$31,418$29,613$27,913$26,312$24,804$23,943
7 years$26,659$24,869$23,196$21,632$20,172$19,344
8 years$23,091$21,318$19,672$18,147$16,735$15,939
9 years$20,318$18,561$16,943$15,457$14,093$13,330
10 years$18,100$16,360$14,772$13,324$12,008$11,278
11 years$16,287$14,565$13,005$11,596$10,327$9,629
12 years$14,777$13,072$11,541$10,171$8,950$8,283
13 years$13,500$11,814$10,311$8,980$7,804$7,168
14 years$12,407$10,738$9,265$7,971$6,841$6,235
15 years$11,460$9,810$8,365$7,109$6,023$5,447
16 years$10,633$9,000$7,584$6,365$5,324$4,775
17 years$9,904$8,289$6,901$5,719$4,720$4,199
18 years$9,256$7,659$6,300$5,154$4,197$3,703
19 years$8,677$7,099$5,767$4,657$3,741$3,273
20 years$8,157$6,596$5,293$4,218$3,341$2,898
21 years$7,687$6,144$4,868$3,828$2,990$2,571
22 years$7,260$5,735$4,487$3,481$2,680$2,285
23 years$6,871$5,364$4,143$3,170$2,406$2,033
24 years$6,515$5,026$3,832$2,891$2,163$1,810
25 years$6,188$4,717$3,549$2,640$1,946$1,614
26 years$5,886$4,433$3,291$2,414$1,753$1,441
27 years$5,607$4,172$3,056$2,210$1,580$1,287
28 years$5,349$3,931$2,841$2,025$1,426$1,150
29 years$5,109$3,708$2,644$1,857$1,288$1,029
30 years$4,885$3,502$2,463$1,704$1,163$921
31 years$4,677$3,311$2,296$1,565$1,052$824
32 years$4,481$3,133$2,142$1,438$951$738
33 years$4,298$2,967$2,000$1,323$861$662
34 years$4,126$2,812$1,869$1,217$780$593
35 years$3,964$2,667$1,747$1,120$706$532
36 years$3,812$2,531$1,634$1,032$640$477
37 years$3,668$2,404$1,530$951$580$428
38 years$3,532$2,285$1,433$876$526$384
39 years$3,403$2,173$1,342$808$477$345
40 years$3,281$2,067$1,258$745$432$310
41 years$3,165$1,968$1,180$687$392$278
42 years$3,056$1,874$1,107$634$356$250
43 years$2,951$1,785$1,038$586$323$224
44 years$2,852$1,702$975$541$293$202
45 years$2,757$1,623$915$499$266$181
46 years$2,666$1,548$860$461$242$163
47 years$2,580$1,477$808$426$219$146
48 years$2,498$1,410$759$394$199$131
49 years$2,419$1,347$713$364$181$118
50 years$2,343$1,287$671$336$164$106

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,400,000, adding $2,476 every year, while hoping to spend $27,388 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: 69/10/21 Blend
56$2,400,000$2,400,000$2,400,000$2,400,000
57$2,647,354$2,520,154$2,482,954$2,816,037
58$2,888,243$2,614,501$2,536,992$3,023,439
59$3,152,786$2,712,553$2,591,923$3,246,874
60$3,443,365$2,814,463$2,647,747$3,490,709
61$3,762,606$2,920,389$2,704,465$3,756,955
62$4,113,402$3,030,499$2,762,075$4,047,830
63$4,498,940$3,144,965$2,820,575$4,365,776
64$4,922,732$3,263,967$2,879,964$4,713,479
65$5,388,644$3,387,695$2,940,237$5,093,901
66$5,900,939$3,516,346$3,001,388$5,510,301
67$6,464,312$3,650,124$3,063,411$5,966,270
68$7,083,935$3,789,243$3,126,299$6,465,761
69$7,765,508$3,933,928$3,190,042$7,013,130
70$8,515,310$4,084,410$3,254,628$7,613,175
71$9,340,260$4,240,935$3,320,047$8,271,178
72$10,247,982$4,403,756$3,386,284$8,992,959
73$11,246,874$4,573,138$3,453,322$9,784,932
74$12,346,191$4,749,358$3,521,145$10,654,156
75$13,556,131$4,932,705$3,589,732$11,608,413
76$14,887,930$5,123,481$3,659,061$12,656,274
77$16,353,968$5,322,001$3,729,109$13,807,179
78$17,967,887$5,528,593$3,799,848$15,071,532
79$19,744,720$5,743,602$3,871,251$16,460,791
80$21,701,028$5,967,386$3,943,285$17,987,583
81$23,855,064$6,200,319$4,015,916$19,665,816
82$26,226,938$6,442,792$4,089,107$21,510,817
83$28,838,811$6,695,214$4,162,817$23,539,468
84$31,715,102$6,958,012$4,237,004$25,770,375
85$34,882,719$7,231,630$4,311,620$28,224,034
86$38,371,311$7,516,536$4,386,614$30,923,028
87$42,213,553$7,813,214$4,461,934$33,892,240
88$46,445,447$8,122,174$4,537,521$37,159,088
89$51,106,667$8,443,944$4,613,312$40,753,781
90$56,240,931$8,779,081$4,689,241$44,709,605
91$61,896,413$9,128,163$4,765,238$49,063,237
92$68,126,199$9,491,795$4,841,226$53,855,090
93$74,988,789$9,870,611$4,917,124$59,129,693
94$82,548,646$10,265,271$4,992,848$64,936,115
95$90,876,804$10,676,465$5,068,304$71,328,421
96$100,051,542$11,104,916$5,143,397$78,366,189
97$110,159,121$11,551,379$5,218,022$86,115,066
98$121,294,596$12,016,641$5,292,071$94,647,389
99$133,562,716$12,501,527$5,365,426$104,042,868
100$147,078,910$13,006,899$5,437,965$114,389,338