Can I retire at age 57 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$201,493$199,698$197,947$196,238$194,569$193,749
2 years$99,749$97,891$96,091$94,345$92,652$91,824
3 years$65,839$63,973$62,177$60,448$58,782$57,972
4 years$48,887$47,027$45,249$43,549$41,924$41,138
5 years$38,719$36,870$35,115$33,450$31,870$31,110
6 years$31,942$30,107$28,378$26,750$25,218$24,485
7 years$27,103$25,284$23,582$21,993$20,509$19,804
8 years$23,476$21,673$20,000$18,449$17,014$16,337
9 years$20,656$18,870$17,226$15,715$14,328$13,679
10 years$18,402$16,633$15,018$13,546$12,208$11,586
11 years$16,558$14,807$13,221$11,789$10,500$9,905
12 years$15,023$13,290$11,734$10,341$9,099$8,530
13 years$13,725$12,011$10,483$9,129$7,934$7,392
14 years$12,614$10,917$9,419$8,104$6,955$6,438
15 years$11,651$9,973$8,504$7,227$6,124$5,631
16 years$10,810$9,150$7,710$6,471$5,412$4,944
17 years$10,069$8,427$7,016$5,814$4,799$4,354
18 years$9,410$7,787$6,405$5,240$4,267$3,845
19 years$8,822$7,217$5,863$4,735$3,803$3,403
20 years$8,293$6,706$5,381$4,288$3,397$3,018
21 years$7,815$6,247$4,950$3,892$3,040$2,681
22 years$7,381$5,831$4,562$3,539$2,725$2,386
23 years$6,985$5,454$4,212$3,223$2,446$2,126
24 years$6,623$5,110$3,895$2,939$2,199$1,896
25 years$6,291$4,795$3,608$2,684$1,978$1,693
26 years$5,984$4,507$3,346$2,454$1,782$1,514
27 years$5,701$4,241$3,107$2,247$1,607$1,354
28 years$5,438$3,997$2,889$2,058$1,450$1,212
29 years$5,194$3,770$2,688$1,888$1,309$1,086
30 years$4,967$3,561$2,504$1,732$1,183$974
31 years$4,754$3,366$2,334$1,591$1,069$873
32 years$4,556$3,185$2,178$1,462$967$783
33 years$4,370$3,016$2,033$1,345$875$703
34 years$4,195$2,859$1,900$1,237$793$631
35 years$4,030$2,711$1,776$1,139$718$567
36 years$3,875$2,573$1,662$1,049$650$510
37 years$3,729$2,444$1,555$966$590$458
38 years$3,591$2,323$1,457$891$534$412
39 years$3,460$2,209$1,365$821$485$370
40 years$3,336$2,102$1,279$758$440$333
41 years$3,218$2,000$1,199$699$399$300
42 years$3,106$1,905$1,125$645$362$269
43 years$3,000$1,815$1,056$595$328$242
44 years$2,899$1,730$991$550$298$218
45 years$2,803$1,650$930$508$271$196
46 years$2,711$1,574$874$469$246$177
47 years$2,623$1,502$821$433$223$159
48 years$2,539$1,434$772$400$203$143
49 years$2,459$1,369$725$370$184$129
50 years$2,382$1,308$682$342$167$116

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,440,000, adding $2,278 every year, while hoping to spend $39,002 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: 27/49/24 Blend
56$2,440,000$2,440,000$2,440,000$2,440,000
57$2,691,230$2,561,910$2,524,090$2,743,531
58$2,924,237$2,645,946$2,567,149$2,869,349
59$3,179,705$2,732,792$2,610,343$3,000,792
60$3,459,881$2,822,545$2,653,637$3,141,109
61$3,767,245$2,915,306$2,696,989$3,291,078
62$4,104,525$3,011,177$2,740,359$3,451,554
63$4,474,728$3,110,266$2,783,703$3,623,476
64$4,881,165$3,212,684$2,826,972$3,807,874
65$5,327,484$3,318,546$2,870,116$4,005,881
66$5,817,704$3,427,971$2,913,081$4,218,741
67$6,356,250$3,541,082$2,955,810$4,447,818
68$6,948,001$3,658,008$2,998,242$4,694,617
69$7,598,327$3,778,881$3,040,314$4,960,786
70$8,313,148$3,903,838$3,081,956$5,248,142
71$9,098,985$4,033,021$3,123,097$5,558,679
72$9,963,020$4,166,578$3,163,659$5,894,591
73$10,913,169$4,304,661$3,203,563$6,258,293
74$11,958,151$4,447,429$3,242,722$6,652,438
75$13,107,575$4,595,045$3,281,045$7,079,947
76$14,372,026$4,747,680$3,318,438$7,544,035
77$15,763,166$4,905,510$3,354,799$8,048,236
78$17,293,845$5,068,717$3,390,022$8,596,441
79$18,978,224$5,237,490$3,423,994$9,192,933
80$20,831,902$5,412,026$3,456,596$9,842,426
81$22,872,068$5,592,528$3,487,705$10,550,107
82$25,117,664$5,779,207$3,517,189$11,321,689
83$27,589,560$5,972,282$3,544,908$12,163,459
84$30,310,750$6,171,979$3,570,717$13,082,339
85$33,306,574$6,378,533$3,594,464$14,085,952
86$36,604,952$6,592,189$3,615,986$15,182,690
87$40,236,649$6,813,198$3,635,113$16,381,797
88$44,235,566$7,041,824$3,651,669$17,693,448
89$48,639,059$7,278,338$3,665,464$19,128,853
90$53,488,288$7,523,022$3,676,303$20,700,355
91$58,828,613$7,776,169$3,683,978$22,421,550
92$64,710,013$8,038,083$3,688,273$24,307,410
93$71,187,564$8,309,078$3,688,960$26,374,428
94$78,321,954$8,589,482$3,685,798$28,640,772
95$86,180,060$8,879,633$3,678,539$31,126,450
96$94,835,574$9,179,884$3,666,919$33,853,507
97$104,369,703$9,490,598$3,650,661$36,846,223
98$114,871,932$9,812,157$3,629,477$40,131,347
99$126,440,868$10,144,952$3,603,064$43,738,346
100$139,185,174$10,489,391$3,571,104$47,699,682