Can I retire at age 57 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$226,267$224,251$222,285$220,366$218,491$214,872
2 years$112,013$109,927$107,905$105,945$104,044$100,407
3 years$73,934$71,839$69,822$67,880$66,010$62,470
4 years$54,898$52,809$50,812$48,904$47,079$43,663
5 years$43,479$41,403$39,433$37,563$35,788$32,507
6 years$35,869$33,809$31,867$30,039$28,318$25,174
7 years$30,436$28,392$26,482$24,697$23,030$20,024
8 years$26,362$24,337$22,459$20,718$19,106$16,238
9 years$23,196$21,190$19,344$17,647$16,090$13,358
10 years$20,664$18,678$16,864$15,212$13,709$11,112
11 years$18,594$16,628$14,847$13,239$11,790$9,324
12 years$16,870$14,924$13,176$11,612$10,217$7,879
13 years$15,413$13,487$11,772$10,252$8,910$6,696
14 years$14,165$12,260$10,577$9,100$7,810$5,718
15 years$13,084$11,199$9,550$8,116$6,877$4,901
16 years$12,139$10,275$8,658$7,267$6,078$4,215
17 years$11,307$9,463$7,879$6,529$5,389$3,635
18 years$10,567$8,744$7,192$5,884$4,792$3,142
19 years$9,906$8,104$6,584$5,317$4,271$2,721
20 years$9,312$7,531$6,043$4,815$3,815$2,361
21 years$8,776$7,015$5,558$4,370$3,414$2,051
22 years$8,288$6,548$5,123$3,974$3,060$1,784
23 years$7,844$6,124$4,730$3,619$2,747$1,554
24 years$7,438$5,738$4,374$3,301$2,469$1,354
25 years$7,064$5,385$4,052$3,014$2,222$1,181
26 years$6,720$5,061$3,758$2,756$2,001$1,031
27 years$6,402$4,763$3,489$2,523$1,804$901
28 years$6,107$4,488$3,244$2,311$1,628$787
29 years$5,833$4,234$3,019$2,120$1,470$688
30 years$5,577$3,998$2,812$1,945$1,328$602
31 years$5,339$3,780$2,621$1,787$1,201$527
32 years$5,116$3,576$2,446$1,642$1,086$461
33 years$4,907$3,387$2,284$1,510$983$404
34 years$4,711$3,210$2,134$1,389$890$354
35 years$4,526$3,045$1,995$1,279$806$310
36 years$4,352$2,890$1,866$1,178$730$271
37 years$4,187$2,745$1,747$1,085$662$238
38 years$4,032$2,608$1,636$1,000$600$208
39 years$3,885$2,480$1,532$922$544$183
40 years$3,746$2,360$1,436$851$494$160
41 years$3,614$2,246$1,347$785$448$140
42 years$3,488$2,139$1,263$724$406$123
43 years$3,369$2,038$1,185$669$369$108
44 years$3,256$1,943$1,113$617$335$95
45 years$3,147$1,853$1,045$570$304$83
46 years$3,044$1,768$981$527$276$73
47 years$2,946$1,687$922$487$251$64
48 years$2,851$1,610$866$450$228$56
49 years$2,761$1,538$814$416$207$49
50 years$2,675$1,469$766$384$188$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,740,000, adding $2,461 every year, while hoping to spend $31,375 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: 57/32/11 Blend
56$2,740,000$2,740,000$2,740,000$2,740,000
57$3,022,019$2,876,799$2,834,329$3,185,958
58$3,296,882$2,984,379$2,895,896$3,404,507
59$3,598,729$3,096,179$2,958,474$3,638,834
60$3,930,281$3,212,373$3,022,064$3,893,412
61$4,294,531$3,333,141$3,086,665$4,170,183
62$4,694,782$3,458,673$3,152,276$4,471,283
63$5,134,667$3,589,166$3,218,895$4,799,062
64$5,618,193$3,724,825$3,286,518$5,156,105
65$6,149,771$3,865,864$3,355,139$5,545,254
66$6,734,265$4,012,508$3,424,753$5,969,639
67$7,377,029$4,164,990$3,495,351$6,432,700
68$8,083,964$4,323,553$3,566,924$6,938,225
69$8,861,573$4,488,452$3,639,461$7,490,384
70$9,717,020$4,659,952$3,712,949$8,093,762
71$10,658,196$4,838,329$3,787,372$8,753,409
72$11,693,798$5,023,874$3,862,716$9,474,883
73$12,833,408$5,216,887$3,938,960$10,264,302
74$14,087,584$5,417,683$4,016,083$11,128,401
75$15,467,959$5,626,590$4,094,063$12,074,595
76$16,987,351$5,843,953$4,172,874$13,111,048
77$18,659,883$6,070,129$4,252,488$14,246,748
78$20,501,117$6,305,492$4,332,872$15,491,593
79$22,528,202$6,550,432$4,413,995$16,856,481
80$24,760,033$6,805,357$4,495,818$18,353,415
81$27,217,430$7,070,693$4,578,301$19,995,611
82$29,923,336$7,346,885$4,661,402$21,797,624
83$32,903,030$7,634,397$4,745,073$23,775,485
84$36,184,370$7,933,713$4,829,264$25,946,849
85$39,798,051$8,245,341$4,913,920$28,331,160
86$43,777,899$8,569,808$4,998,983$30,949,838
87$48,161,185$8,907,669$5,084,389$33,826,472
88$52,988,981$9,259,501$5,170,071$36,987,048
89$58,306,546$9,625,905$5,255,958$40,460,188
90$64,163,753$10,007,513$5,341,971$44,277,424
91$70,615,557$10,404,983$5,428,029$48,473,487
92$77,722,520$10,819,003$5,514,044$53,086,637
93$85,551,374$11,250,292$5,599,921$58,159,026
94$94,175,658$11,699,599$5,685,562$63,737,084
95$103,676,407$12,167,712$5,770,861$69,871,967
96$114,142,919$12,655,449$5,855,704$76,620,028
97$125,673,599$13,163,668$5,939,972$84,043,353
98$138,376,883$13,693,265$6,023,538$92,210,342
99$152,372,267$14,245,176$6,106,268$101,196,355
100$167,791,429$14,820,381$6,188,019$111,084,417