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

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$198,190$196,424$194,702$193,021$191,379$186,753
2 years$98,114$96,286$94,516$92,799$91,133$86,500
3 years$64,759$62,924$61,158$59,457$57,819$53,323
4 years$48,086$46,256$44,507$42,835$41,237$36,914
5 years$38,084$36,265$34,539$32,902$31,347$27,209
6 years$31,418$29,613$27,913$26,312$24,804$20,855
7 years$26,659$24,869$23,196$21,632$20,172$16,413
8 years$23,091$21,318$19,672$18,147$16,735$13,163
9 years$20,318$18,561$16,943$15,457$14,093$10,706
10 years$18,100$16,360$14,772$13,324$12,008$8,802
11 years$16,287$14,565$13,005$11,596$10,327$7,298
12 years$14,777$13,072$11,541$10,171$8,950$6,091
13 years$13,500$11,814$10,311$8,980$7,804$5,112
14 years$12,407$10,738$9,265$7,971$6,841$4,309
15 years$11,460$9,810$8,365$7,109$6,023$3,645
16 years$10,633$9,000$7,584$6,365$5,324$3,093
17 years$9,904$8,289$6,901$5,719$4,720$2,631
18 years$9,256$7,659$6,300$5,154$4,197$2,243
19 years$8,677$7,099$5,767$4,657$3,741$1,915
20 years$8,157$6,596$5,293$4,218$3,341$1,638
21 years$7,687$6,144$4,868$3,828$2,990$1,403
22 years$7,260$5,735$4,487$3,481$2,680$1,202
23 years$6,871$5,364$4,143$3,170$2,406$1,032
24 years$6,515$5,026$3,832$2,891$2,163$886
25 years$6,188$4,717$3,549$2,640$1,946$761
26 years$5,886$4,433$3,291$2,414$1,753$655
27 years$5,607$4,172$3,056$2,210$1,580$563
28 years$5,349$3,931$2,841$2,025$1,426$485
29 years$5,109$3,708$2,644$1,857$1,288$417
30 years$4,885$3,502$2,463$1,704$1,163$359
31 years$4,677$3,311$2,296$1,565$1,052$309
32 years$4,481$3,133$2,142$1,438$951$267
33 years$4,298$2,967$2,000$1,323$861$230
34 years$4,126$2,812$1,869$1,217$780$198
35 years$3,964$2,667$1,747$1,120$706$171
36 years$3,812$2,531$1,634$1,032$640$147
37 years$3,668$2,404$1,530$951$580$127
38 years$3,532$2,285$1,433$876$526$109
39 years$3,403$2,173$1,342$808$477$94
40 years$3,281$2,067$1,258$745$432$81
41 years$3,165$1,968$1,180$687$392$70
42 years$3,056$1,874$1,107$634$356$61
43 years$2,951$1,785$1,038$586$323$52
44 years$2,852$1,702$975$541$293$45
45 years$2,757$1,623$915$499$266$39
46 years$2,666$1,548$860$461$242$34
47 years$2,580$1,477$808$426$219$29
48 years$2,498$1,410$759$394$199$25
49 years$2,419$1,347$713$364$181$22
50 years$2,343$1,287$671$336$164$19

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 $4,967 every year, while hoping to spend $56,997 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: 49/46/5 Blend
56$2,400,000$2,400,000$2,400,000$2,400,000
57$2,649,923$2,522,723$2,485,523$2,776,280
58$2,859,571$2,585,693$2,508,144$2,925,919
59$3,088,693$2,649,837$2,529,612$3,081,844
60$3,339,214$2,715,154$2,549,829$3,249,829
61$3,613,257$2,781,639$2,568,691$3,431,014
62$3,913,155$2,849,285$2,586,088$3,626,649
63$4,241,479$2,918,083$2,601,905$3,838,113
64$4,601,063$2,988,021$2,616,021$4,066,924
65$4,995,023$3,059,086$2,628,309$4,314,752
66$5,426,793$3,131,259$2,638,635$4,583,435
67$5,900,155$3,204,520$2,646,859$4,875,000
68$6,419,276$3,278,846$2,652,833$5,191,676
69$6,988,741$3,354,209$2,656,403$5,535,919
70$7,613,605$3,430,577$2,657,405$5,910,435
71$8,299,434$3,507,917$2,655,669$6,318,204
72$9,052,358$3,586,186$2,651,015$6,762,508
73$9,879,131$3,665,342$2,643,257$7,246,963
74$10,787,194$3,745,335$2,632,198$7,775,552
75$11,784,741$3,826,110$2,617,630$8,352,665
76$12,880,802$3,907,607$2,599,337$8,983,136
77$14,085,322$3,989,758$2,577,093$9,672,292
78$15,409,259$4,072,491$2,550,661$10,426,003
79$16,864,686$4,155,725$2,519,791$11,250,737
80$18,464,903$4,239,375$2,484,222$12,153,620
81$20,224,563$4,323,343$2,443,683$13,142,505
82$22,159,809$4,407,528$2,397,887$14,226,045
83$24,288,429$4,491,816$2,346,536$15,413,774
84$26,630,020$4,576,087$2,289,317$16,716,201
85$29,206,175$4,660,208$2,225,902$18,144,906
86$32,040,685$4,744,038$2,155,949$19,712,648
87$35,159,762$4,827,423$2,079,101$21,433,491
88$38,592,289$4,910,198$1,994,982$23,322,931
89$42,370,090$4,992,186$1,903,202$25,398,047
90$46,528,231$5,073,194$1,803,351$27,677,661
91$51,105,349$5,153,019$1,695,001$30,182,514
92$56,144,016$5,231,439$1,577,705$32,935,468
93$61,691,144$5,308,217$1,450,996$35,961,714
94$67,798,423$5,383,102$1,314,387$39,289,018
95$74,522,810$5,455,822$1,167,367$42,947,978
96$81,927,066$5,526,087$1,009,403$46,972,318
97$90,080,348$5,593,587$839,940$51,399,202
98$99,058,863$5,657,992$658,397$56,269,592
99$108,946,580$5,718,947$464,167$61,628,628
100$119,836,032$5,776,076$256,617$67,526,062