Can I retire at age 57 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$199,841$198,061$196,325$194,629$192,974$186,350
2 years$98,931$97,089$95,303$93,572$91,892$85,286
3 years$65,299$63,449$61,667$59,952$58,300$51,919
4 years$48,486$46,641$44,878$43,192$41,580$35,473
5 years$38,401$36,567$34,827$33,176$31,609$25,792
6 years$31,680$29,860$28,146$26,531$25,011$19,489
7 years$26,881$25,076$23,389$21,813$20,341$15,113
8 years$23,283$21,495$19,836$18,298$16,874$11,936
9 years$20,487$18,715$17,085$15,586$14,211$9,556
10 years$18,251$16,497$14,895$13,435$12,108$7,730
11 years$16,423$14,686$13,113$11,693$10,413$6,303
12 years$14,900$13,181$11,638$10,256$9,024$5,171
13 years$13,613$11,912$10,397$9,055$7,869$4,264
14 years$12,510$10,828$9,342$8,038$6,898$3,530
15 years$11,556$9,891$8,435$7,168$6,074$2,932
16 years$10,722$9,075$7,647$6,418$5,368$2,442
17 years$9,986$8,358$6,959$5,767$4,760$2,038
18 years$9,333$7,723$6,352$5,197$4,232$1,704
19 years$8,749$7,158$5,815$4,696$3,772$1,427
20 years$8,225$6,651$5,337$4,253$3,369$1,197
21 years$7,751$6,195$4,909$3,860$3,015$1,004
22 years$7,320$5,783$4,524$3,510$2,703$844
23 years$6,928$5,409$4,177$3,196$2,426$709
24 years$6,569$5,068$3,863$2,915$2,181$597
25 years$6,239$4,756$3,578$2,662$1,962$502
26 years$5,935$4,470$3,319$2,434$1,767$423
27 years$5,654$4,207$3,082$2,228$1,594$356
28 years$5,394$3,964$2,865$2,041$1,438$300
29 years$5,152$3,739$2,666$1,872$1,298$253
30 years$4,926$3,531$2,483$1,718$1,173$213
31 years$4,716$3,338$2,315$1,578$1,061$180
32 years$4,519$3,159$2,160$1,450$959$152
33 years$4,334$2,991$2,017$1,334$868$128
34 years$4,160$2,835$1,884$1,227$786$108
35 years$3,997$2,689$1,762$1,129$712$91
36 years$3,844$2,552$1,648$1,040$645$77
37 years$3,698$2,424$1,543$958$585$65
38 years$3,561$2,304$1,445$883$530$55
39 years$3,432$2,191$1,353$815$481$46
40 years$3,309$2,084$1,269$751$436$39
41 years$3,192$1,984$1,190$693$396$33
42 years$3,081$1,890$1,116$640$359$28
43 years$2,976$1,800$1,047$591$326$23
44 years$2,875$1,716$983$545$296$20
45 years$2,780$1,636$923$504$268$17
46 years$2,689$1,561$867$465$244$14
47 years$2,602$1,490$814$430$221$12
48 years$2,518$1,422$765$397$201$10
49 years$2,439$1,358$719$367$183$8
50 years$2,363$1,297$676$339$166$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,420,000, adding $4,814 every year, while hoping to spend $43,270 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: 67/11/22 Blend
56$2,420,000$2,420,000$2,420,000$2,420,000
57$2,671,806$2,543,546$2,506,036$2,835,595
58$2,898,291$2,622,140$2,543,949$3,024,644
59$3,146,427$2,703,136$2,581,682$3,225,896
60$3,418,378$2,786,605$2,619,183$3,444,968
61$3,716,524$2,872,620$2,656,398$3,683,613
62$4,043,490$2,961,259$2,693,267$3,943,765
63$4,402,165$3,052,599$2,729,730$4,227,552
64$4,795,730$3,146,721$2,765,721$4,537,319
65$5,227,693$3,243,709$2,801,171$4,875,648
66$5,701,914$3,343,647$2,836,007$5,245,383
67$6,222,647$3,446,623$2,870,151$5,649,657
68$6,794,577$3,552,728$2,903,521$6,091,923
69$7,422,867$3,662,055$2,936,032$6,575,982
70$8,113,203$3,774,699$2,967,592$7,106,023
71$8,871,848$3,890,758$2,998,106$7,686,662
72$9,705,706$4,010,334$3,027,471$8,322,983
73$10,622,378$4,133,530$3,055,581$9,020,587
74$11,630,241$4,260,454$3,082,324$9,785,646
75$12,738,524$4,391,215$3,107,580$10,624,960
76$13,957,395$4,525,926$3,131,226$11,546,021
77$15,298,056$4,664,703$3,153,129$12,557,085
78$16,772,851$4,807,667$3,173,151$13,667,246
79$18,395,378$4,954,939$3,191,148$14,886,526
80$20,180,621$5,106,645$3,206,966$16,225,970
81$22,145,090$5,262,916$3,220,445$17,697,746
82$24,306,975$5,423,885$3,231,416$19,315,261
83$26,686,320$5,589,689$3,239,701$21,093,290
84$29,305,208$5,760,467$3,245,116$23,048,112
85$32,187,976$5,936,366$3,247,463$25,197,669
86$35,361,435$6,117,534$3,246,539$27,561,727
87$38,855,130$6,304,123$3,242,127$30,162,070
88$42,701,618$6,496,289$3,234,003$33,022,702
89$46,936,771$6,694,195$3,221,930$36,170,074
90$51,600,116$6,898,005$3,205,659$39,633,334
91$56,735,210$7,107,889$3,184,930$43,444,602
92$62,390,048$7,324,022$3,159,472$47,639,274
93$68,617,516$7,546,583$3,128,998$52,256,352
94$75,475,892$7,775,755$3,093,209$57,338,821
95$83,029,394$8,011,727$3,051,791$62,934,044
96$91,348,783$8,254,693$3,004,418$69,094,217
97$100,512,038$8,504,852$2,950,745$75,876,859
98$110,605,084$8,762,407$2,890,413$83,345,354
99$121,722,606$9,027,569$2,823,045$91,569,552
100$133,968,943$9,300,551$2,748,248$100,626,425