Can I retire at age 57 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$233,699$231,617$229,586$227,604$225,668$220,661
2 years$115,692$113,538$111,450$109,425$107,461$102,442
3 years$76,362$74,198$72,115$70,110$68,178$63,304
4 years$56,701$54,544$52,481$50,510$48,625$43,934
5 years$44,907$42,763$40,728$38,797$36,964$32,469
6 years$37,047$34,919$32,914$31,026$29,248$24,954
7 years$31,435$29,325$27,352$25,508$23,787$19,694
8 years$27,228$25,137$23,196$21,398$19,733$15,841
9 years$23,958$21,886$19,979$18,226$16,618$12,923
10 years$21,343$19,292$17,418$15,711$14,160$10,658
11 years$19,205$17,174$15,335$13,674$12,178$8,864
12 years$17,424$15,415$13,609$11,994$10,553$7,423
13 years$15,919$13,930$12,159$10,589$9,202$6,250
14 years$14,630$12,662$10,925$9,399$8,067$5,286
15 years$13,514$11,567$9,864$8,383$7,103$4,488
16 years$12,538$10,613$8,943$7,506$6,277$3,822
17 years$11,678$9,774$8,138$6,744$5,566$3,263
18 years$10,914$9,032$7,429$6,077$4,949$2,791
19 years$10,232$8,370$6,801$5,492$4,411$2,393
20 years$9,618$7,778$6,241$4,974$3,940$2,054
21 years$9,064$7,245$5,741$4,514$3,526$1,766
22 years$8,561$6,763$5,291$4,104$3,160$1,520
23 years$8,102$6,325$4,885$3,738$2,837$1,309
24 years$7,682$5,926$4,518$3,409$2,550$1,128
25 years$7,296$5,562$4,185$3,113$2,295$974
26 years$6,941$5,227$3,881$2,847$2,067$840
27 years$6,612$4,919$3,604$2,606$1,863$726
28 years$6,307$4,635$3,350$2,387$1,681$627
29 years$6,024$4,373$3,118$2,189$1,518$542
30 years$5,761$4,130$2,904$2,009$1,372$469
31 years$5,514$3,904$2,707$1,845$1,240$406
32 years$5,284$3,694$2,526$1,696$1,122$351
33 years$5,068$3,498$2,359$1,559$1,015$304
34 years$4,865$3,316$2,204$1,435$919$263
35 years$4,674$3,145$2,060$1,321$833$227
36 years$4,495$2,985$1,927$1,216$754$197
37 years$4,325$2,835$1,804$1,121$684$171
38 years$4,165$2,694$1,689$1,033$620$148
39 years$4,013$2,562$1,583$953$562$128
40 years$3,869$2,437$1,483$879$510$111
41 years$3,733$2,320$1,391$811$463$96
42 years$3,603$2,210$1,305$748$420$83
43 years$3,480$2,105$1,224$691$381$72
44 years$3,362$2,007$1,149$638$346$62
45 years$3,251$1,914$1,079$589$314$54
46 years$3,144$1,826$1,014$544$285$47
47 years$3,042$1,742$952$503$259$41
48 years$2,945$1,663$895$464$235$35
49 years$2,852$1,588$841$429$213$30
50 years$2,763$1,517$791$397$194$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,830,000, adding $6,644 every year, while hoping to spend $43,522 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: 62/15/23 Blend
56$2,830,000$2,830,000$2,830,000$2,830,000
57$3,125,513$2,975,523$2,931,658$3,300,008
58$3,398,009$3,075,017$2,983,562$3,518,342
59$3,696,840$3,177,927$3,035,745$3,751,227
60$4,024,647$3,284,375$3,088,172$4,004,528
61$4,384,339$3,394,487$3,140,804$4,280,242
62$4,779,118$3,508,394$3,193,597$4,580,569
63$5,212,513$3,626,230$3,246,508$4,907,930
64$5,688,412$3,748,138$3,299,488$5,264,992
65$6,211,095$3,874,261$3,352,486$5,654,691
66$6,785,279$4,004,753$3,405,447$6,080,260
67$7,416,161$4,139,769$3,458,313$6,545,262
68$8,109,464$4,279,472$3,511,021$7,053,616
69$8,871,495$4,424,032$3,563,506$7,609,645
70$9,709,202$4,573,624$3,615,698$8,218,105
71$10,630,238$4,728,429$3,667,522$8,884,236
72$11,643,037$4,888,637$3,718,898$9,613,813
73$12,756,890$5,054,443$3,769,744$10,413,194
74$13,982,033$5,226,051$3,819,971$11,289,385
75$15,329,744$5,403,672$3,869,484$12,250,101
76$16,812,451$5,587,525$3,918,185$13,303,845
77$18,443,845$5,777,838$3,965,968$14,459,982
78$20,239,012$5,974,846$4,012,722$15,728,830
79$22,214,573$6,178,795$4,058,331$17,121,758
80$24,388,843$6,389,941$4,102,669$18,651,289
81$26,782,004$6,608,546$4,145,606$20,331,221
82$29,416,290$6,834,886$4,187,006$22,176,759
83$32,316,202$7,069,247$4,226,721$24,204,653
84$35,508,738$7,311,923$4,264,600$26,433,359
85$39,023,646$7,563,224$4,300,481$28,883,211
86$42,893,705$7,823,469$4,334,194$31,576,617
87$47,155,033$8,092,989$4,365,559$34,538,264
88$51,847,431$8,372,130$4,394,391$37,795,355
89$57,014,755$8,661,251$4,420,489$41,377,864
90$62,705,332$8,960,723$4,443,646$45,318,819
91$68,972,411$9,270,935$4,463,644$49,654,612
92$75,874,674$9,592,287$4,480,253$54,425,344
93$83,476,780$9,925,199$4,493,231$59,675,204
94$91,849,982$10,270,104$4,502,325$65,452,881
95$101,072,796$10,627,455$4,507,269$71,812,030
96$111,231,742$10,997,720$4,507,782$78,811,771
97$122,422,160$11,381,389$4,503,573$86,517,253
98$134,749,110$11,778,968$4,494,333$95,000,264
99$148,328,367$12,190,984$4,479,741$104,339,912
100$163,287,505$12,617,987$4,459,457$114,623,369