Can I retire at age 57 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$203,970$202,153$200,381$198,651$196,961$193,858
2 years$100,975$99,095$97,272$95,505$93,791$90,673
3 years$66,648$64,760$62,942$61,191$59,505$56,468
4 years$49,488$47,605$45,805$44,085$42,439$39,508
5 years$39,195$37,323$35,547$33,861$32,262$29,444
6 years$32,335$30,477$28,727$27,079$25,528$22,827
7 years$27,436$25,595$23,872$22,263$20,761$18,178
8 years$23,765$21,939$20,246$18,676$17,223$14,758
9 years$20,910$19,102$17,438$15,908$14,504$12,155
10 years$18,628$16,838$15,202$13,713$12,358$10,123
11 years$16,762$14,989$13,384$11,934$10,629$8,505
12 years$15,208$13,454$11,878$10,468$9,211$7,196
13 years$13,894$12,158$10,612$9,242$8,032$6,124
14 years$12,769$11,052$9,535$8,204$7,041$5,236
15 years$11,795$10,096$8,609$7,316$6,199$4,494
16 years$10,943$9,263$7,805$6,551$5,479$3,871
17 years$10,192$8,531$7,102$5,886$4,858$3,343
18 years$9,526$7,883$6,484$5,304$4,319$2,893
19 years$8,930$7,306$5,935$4,793$3,850$2,510
20 years$8,395$6,789$5,447$4,341$3,439$2,180
21 years$7,911$6,323$5,010$3,940$3,077$1,897
22 years$7,472$5,903$4,618$3,582$2,758$1,653
23 years$7,071$5,521$4,264$3,262$2,476$1,442
24 years$6,705$5,172$3,943$2,975$2,226$1,259
25 years$6,368$4,854$3,652$2,717$2,003$1,100
26 years$6,058$4,562$3,387$2,485$1,804$962
27 years$5,771$4,293$3,145$2,274$1,626$841
28 years$5,505$4,046$2,924$2,084$1,468$737
29 years$5,258$3,817$2,721$1,911$1,325$645
30 years$5,028$3,604$2,535$1,754$1,197$565
31 years$4,813$3,407$2,363$1,611$1,083$495
32 years$4,612$3,224$2,205$1,480$979$434
33 years$4,423$3,053$2,058$1,361$886$381
34 years$4,246$2,894$1,923$1,252$802$334
35 years$4,080$2,745$1,798$1,153$727$293
36 years$3,923$2,605$1,682$1,062$658$257
37 years$3,775$2,474$1,574$978$597$226
38 years$3,635$2,351$1,474$902$541$198
39 years$3,502$2,236$1,381$831$491$174
40 years$3,377$2,127$1,295$767$445$153
41 years$3,258$2,025$1,214$707$404$134
42 years$3,145$1,929$1,139$653$366$118
43 years$3,037$1,838$1,069$603$332$103
44 years$2,935$1,752$1,003$557$302$91
45 years$2,837$1,670$942$514$274$80
46 years$2,744$1,593$885$475$249$70
47 years$2,655$1,521$831$439$226$62
48 years$2,570$1,452$781$405$205$54
49 years$2,489$1,386$734$375$186$48
50 years$2,412$1,324$690$346$169$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,470,000, adding $3,003 every year, while hoping to spend $37,064 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: 49/36/15 Blend
56$2,470,000$2,470,000$2,470,000$2,470,000
57$2,725,038$2,594,128$2,555,843$2,847,107
58$2,963,556$2,681,804$2,602,028$3,019,261
59$3,225,160$2,772,534$2,648,517$3,202,083
60$3,512,167$2,866,429$2,695,283$3,399,863
61$3,827,127$2,963,603$2,742,294$3,614,016
62$4,172,850$3,064,175$2,789,517$3,846,098
63$4,552,430$3,168,269$2,836,915$4,097,824
64$4,969,276$3,276,013$2,884,450$4,371,076
65$5,427,144$3,387,540$2,932,081$4,667,925
66$5,930,172$3,502,988$2,979,765$4,990,652
67$6,482,917$3,622,501$3,027,454$5,341,765
68$7,090,399$3,746,229$3,075,098$5,724,023
69$7,758,150$3,874,325$3,122,645$6,140,463
70$8,492,265$4,006,950$3,170,037$6,594,429
71$9,299,457$4,144,272$3,217,214$7,089,600
72$10,187,124$4,286,463$3,264,113$7,630,025
73$11,163,415$4,433,704$3,310,665$8,220,162
74$12,237,309$4,586,182$3,356,799$8,864,921
75$13,418,701$4,744,091$3,402,438$9,569,705
76$14,718,490$4,907,633$3,447,501$10,340,464
77$16,148,686$5,077,017$3,491,902$11,183,749
78$17,722,523$5,252,462$3,535,552$12,106,774
79$19,454,582$5,434,194$3,578,354$13,117,483
80$21,360,928$5,622,448$3,620,208$14,224,625
81$23,459,263$5,817,469$3,661,005$15,437,835
82$25,769,094$6,019,510$3,700,635$16,767,725
83$28,311,912$6,228,837$3,738,977$18,225,980
84$31,111,401$6,445,724$3,775,906$19,825,474
85$34,193,655$6,670,456$3,811,291$21,580,384
86$37,587,429$6,903,329$3,844,990$23,506,330
87$41,324,408$7,144,653$3,876,858$25,620,513
88$45,439,505$7,394,749$3,906,740$27,941,883
89$49,971,192$7,653,949$3,934,474$30,491,316
90$54,961,862$7,922,601$3,959,887$33,291,808
91$60,458,229$8,201,066$3,982,801$36,368,691
92$66,511,769$8,489,719$4,003,025$39,749,875
93$73,179,204$8,788,950$4,020,361$43,466,105
94$80,523,040$9,099,165$4,034,600$47,551,253
95$88,612,153$9,420,787$4,045,522$52,042,638
96$97,522,441$9,754,254$4,052,896$56,981,374
97$107,337,543$10,100,025$4,056,480$62,412,758
98$118,149,620$10,458,575$4,056,021$68,386,698
99$130,060,235$10,830,398$4,051,251$74,958,180
100$143,181,302$11,216,011$4,041,891$82,187,787