Can I retire at age 57 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$204,796$202,972$201,192$199,455$197,759$194,563
2 years$101,384$99,496$97,666$95,892$94,171$90,960
3 years$66,918$65,022$63,196$61,439$59,746$56,619
4 years$49,688$47,798$45,991$44,263$42,611$39,594
5 years$39,353$37,474$35,691$33,998$32,392$29,493
6 years$32,465$30,600$28,843$27,189$25,631$22,852
7 years$27,548$25,698$23,969$22,353$20,845$18,188
8 years$23,861$22,028$20,328$18,752$17,293$14,757
9 years$20,995$19,179$17,508$15,972$14,563$12,147
10 years$18,703$16,906$15,264$13,768$12,408$10,111
11 years$16,830$15,050$13,438$11,983$10,672$8,489
12 years$15,270$13,508$11,926$10,510$9,248$7,178
13 years$13,950$12,207$10,655$9,279$8,064$6,105
14 years$12,821$11,096$9,574$8,237$7,069$5,216
15 years$11,842$10,137$8,644$7,346$6,224$4,474
16 years$10,987$9,300$7,837$6,577$5,501$3,850
17 years$10,234$8,565$7,131$5,910$4,878$3,323
18 years$9,564$7,915$6,510$5,326$4,337$2,874
19 years$8,966$7,335$5,959$4,812$3,866$2,491
20 years$8,429$6,816$5,469$4,359$3,453$2,163
21 years$7,943$6,349$5,031$3,956$3,090$1,880
22 years$7,502$5,927$4,637$3,597$2,770$1,637
23 years$7,100$5,543$4,281$3,275$2,486$1,427
24 years$6,732$5,193$3,959$2,987$2,235$1,245
25 years$6,394$4,874$3,667$2,728$2,011$1,087
26 years$6,082$4,581$3,401$2,495$1,811$949
27 years$5,794$4,311$3,158$2,283$1,633$830
28 years$5,527$4,062$2,936$2,092$1,474$726
29 years$5,279$3,832$2,732$1,918$1,331$635
30 years$5,048$3,619$2,545$1,761$1,202$556
31 years$4,832$3,421$2,373$1,617$1,087$487
32 years$4,631$3,237$2,214$1,486$983$427
33 years$4,441$3,066$2,067$1,367$890$374
34 years$4,264$2,905$1,931$1,257$806$328
35 years$4,096$2,756$1,805$1,157$730$287
36 years$3,939$2,616$1,689$1,066$661$252
37 years$3,790$2,484$1,581$982$599$221
38 years$3,650$2,361$1,480$905$543$194
39 years$3,517$2,245$1,387$835$493$170
40 years$3,391$2,136$1,300$770$447$149
41 years$3,271$2,033$1,219$710$405$131
42 years$3,157$1,936$1,143$656$368$115
43 years$3,049$1,845$1,073$605$334$101
44 years$2,947$1,759$1,007$559$303$88
45 years$2,849$1,677$946$516$275$78
46 years$2,755$1,600$888$477$250$68
47 years$2,666$1,527$834$440$227$60
48 years$2,581$1,457$784$407$206$52
49 years$2,499$1,392$737$376$187$46
50 years$2,421$1,330$693$348$170$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,480,000, adding $2,727 every year, while hoping to spend $32,293 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: 44/27/29 Blend
56$2,480,000$2,480,000$2,480,000$2,480,000
57$2,735,773$2,604,333$2,565,893$2,832,993
58$2,980,462$2,697,586$2,617,491$2,996,035
59$3,249,028$2,794,326$2,669,735$3,169,389
60$3,543,870$2,894,689$2,722,613$3,356,702
61$3,867,635$2,998,819$2,776,111$3,559,294
62$4,223,236$3,106,864$2,830,213$3,778,615
63$4,613,883$3,218,977$2,884,902$4,016,260
64$5,043,113$3,335,320$2,940,159$4,273,984
65$5,514,819$3,456,060$2,995,964$4,553,716
66$6,033,296$3,581,372$3,052,293$4,857,581
67$6,603,270$3,711,437$3,109,123$5,187,915
68$7,229,950$3,846,444$3,166,425$5,547,289
69$7,919,076$3,986,591$3,224,171$5,938,534
70$8,676,970$4,132,082$3,282,330$6,364,763
71$9,510,599$4,283,132$3,340,866$6,829,406
72$10,427,639$4,439,964$3,399,743$7,336,236
73$11,436,546$4,602,810$3,458,923$7,889,408
74$12,546,637$4,771,912$3,518,361$8,493,495
75$13,768,181$4,947,522$3,578,012$9,153,535
76$15,112,488$5,129,904$3,637,828$9,875,070
77$16,592,023$5,319,330$3,697,757$10,664,208
78$18,220,520$5,516,088$3,757,742$11,527,672
79$20,013,110$5,720,474$3,817,724$12,472,866
80$21,986,469$5,932,799$3,877,640$13,507,943
81$24,158,970$6,153,386$3,937,421$14,641,885
82$26,550,856$6,382,574$3,996,996$15,884,581
83$29,184,437$6,620,713$4,056,289$17,246,925
84$32,084,293$6,868,171$4,115,218$18,740,916
85$35,277,510$7,125,331$4,173,697$20,379,770
86$38,793,934$7,392,591$4,231,634$22,178,044
87$42,666,455$7,670,367$4,288,933$24,151,775
88$46,931,312$7,959,094$4,345,491$26,318,627
89$51,628,440$8,259,224$4,401,200$28,698,059
90$56,801,845$8,571,230$4,455,944$31,311,508
91$62,500,017$8,895,604$4,509,601$34,182,590
92$68,776,391$9,232,860$4,562,045$37,337,322
93$75,689,848$9,583,535$4,613,139$40,804,365
94$83,305,273$9,948,189$4,662,739$44,615,296
95$91,694,165$10,327,405$4,710,696$48,804,906
96$100,935,315$10,721,793$4,756,849$53,411,521
97$111,115,545$11,131,989$4,801,032$58,477,372
98$122,330,531$11,558,656$4,843,066$64,048,983
99$134,685,703$12,002,488$4,882,767$70,177,618
100$148,297,243$12,464,208$4,919,937$76,919,757