Can I retire at age 57 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$234,525$232,436$230,397$228,408$226,466$225,227
2 years$116,101$113,939$111,843$109,812$107,841$106,591
3 years$76,632$74,460$72,370$70,357$68,419$67,197
4 years$56,901$54,736$52,667$50,689$48,797$47,612
5 years$45,066$42,914$40,872$38,934$37,094$35,950
6 years$37,178$35,042$33,030$31,136$29,352$28,249
7 years$31,546$29,429$27,448$25,598$23,871$22,810
8 years$27,324$25,226$23,278$21,474$19,803$18,785
9 years$24,042$21,964$20,050$18,291$16,677$15,701
10 years$21,418$19,360$17,480$15,767$14,210$13,276
11 years$19,273$17,235$15,389$13,722$12,221$11,328
12 years$17,486$15,469$13,657$12,036$10,590$9,738
13 years$15,975$13,980$12,202$10,626$9,235$8,422
14 years$14,682$12,707$10,963$9,433$8,095$7,321
15 years$13,561$11,608$9,899$8,412$7,128$6,391
16 years$12,582$10,650$8,974$7,532$6,300$5,599
17 years$11,719$9,808$8,166$6,768$5,586$4,921
18 years$10,953$9,063$7,455$6,099$4,966$4,336
19 years$10,268$8,400$6,825$5,511$4,427$3,830
20 years$9,652$7,806$6,263$4,991$3,954$3,389
21 years$9,096$7,271$5,761$4,530$3,538$3,004
22 years$8,591$6,787$5,310$4,119$3,172$2,667
23 years$8,131$6,348$4,903$3,751$2,847$2,371
24 years$7,709$5,947$4,534$3,421$2,559$2,111
25 years$7,322$5,581$4,199$3,124$2,303$1,881
26 years$6,965$5,245$3,895$2,857$2,074$1,677
27 years$6,635$4,937$3,617$2,615$1,870$1,497
28 years$6,330$4,652$3,362$2,396$1,687$1,337
29 years$6,046$4,388$3,129$2,197$1,524$1,195
30 years$5,781$4,144$2,914$2,016$1,377$1,068
31 years$5,534$3,918$2,717$1,852$1,245$956
32 years$5,303$3,707$2,535$1,702$1,126$855
33 years$5,086$3,511$2,367$1,565$1,019$766
34 years$4,882$3,327$2,211$1,440$923$686
35 years$4,691$3,156$2,068$1,326$836$615
36 years$4,511$2,995$1,934$1,221$757$551
37 years$4,340$2,845$1,810$1,125$686$494
38 years$4,179$2,704$1,695$1,037$622$443
39 years$4,027$2,571$1,588$956$564$397
40 years$3,883$2,446$1,489$882$512$356
41 years$3,746$2,328$1,396$813$464$320
42 years$3,616$2,217$1,309$751$421$287
43 years$3,492$2,113$1,229$693$382$258
44 years$3,374$2,014$1,153$640$347$231
45 years$3,262$1,920$1,083$591$315$207
46 years$3,155$1,832$1,017$546$286$186
47 years$3,053$1,748$956$504$260$167
48 years$2,955$1,669$898$466$236$150
49 years$2,862$1,594$844$431$214$135
50 years$2,773$1,522$794$398$195$121

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,840,000, adding $2,307 every year, while hoping to spend $37,930 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: 58/17/25 Blend
56$2,840,000$2,840,000$2,840,000$2,840,000
57$3,132,060$2,981,540$2,937,520$3,292,386
58$3,411,173$3,087,278$2,995,569$3,507,881
59$3,717,484$3,196,926$3,054,292$3,738,486
60$4,053,727$3,310,636$3,113,671$3,989,118
61$4,422,915$3,428,564$3,173,687$4,261,728
62$4,828,365$3,550,876$3,234,318$4,558,458
63$5,273,731$3,677,743$3,295,541$4,881,671
64$5,763,041$3,809,341$3,357,330$5,233,963
65$6,300,728$3,945,856$3,419,658$5,618,196
66$6,891,680$4,087,481$3,482,495$6,037,520
67$7,541,281$4,234,416$3,545,807$6,495,404
68$8,255,459$4,386,871$3,609,560$6,995,665
69$9,040,751$4,545,062$3,673,715$7,542,510
70$9,904,354$4,709,217$3,738,231$8,140,569
71$10,854,201$4,879,571$3,803,064$8,794,943
72$11,899,029$5,056,369$3,868,166$9,511,249
73$13,048,467$5,239,869$3,933,487$10,295,674
74$14,313,123$5,430,335$3,998,972$11,155,031
75$15,704,687$5,628,046$4,064,562$12,096,826
76$17,236,036$5,833,292$4,130,196$13,129,326
77$18,921,361$6,046,372$4,195,807$14,261,637
78$20,776,297$6,267,602$4,261,324$15,503,793
79$22,818,074$6,497,309$4,326,672$16,866,841
80$25,065,673$6,735,833$4,391,772$18,362,958
81$27,540,012$6,983,529$4,456,536$20,005,553
82$30,264,139$7,240,768$4,520,877$21,809,400
83$33,263,452$7,507,936$4,584,696$23,790,777
84$36,565,934$7,785,434$4,647,893$25,967,615
85$40,202,421$8,073,683$4,710,360$28,359,672
86$44,206,894$8,373,119$4,771,983$30,988,714
87$48,616,793$8,684,198$4,832,640$33,878,722
88$53,473,377$9,007,395$4,892,205$37,056,119
89$58,822,109$9,343,205$4,950,541$40,550,017
90$64,713,087$9,692,145$5,007,507$44,392,492
91$71,201,515$10,054,753$5,062,952$48,618,885
92$78,348,225$10,431,592$5,116,717$53,268,138
93$86,220,251$10,823,246$5,168,633$58,383,156
94$94,891,459$11,230,327$5,218,525$64,011,216
95$104,443,247$11,653,473$5,266,205$70,204,411
96$114,965,313$12,093,348$5,311,478$77,020,139
97$126,556,499$12,550,646$5,354,136$84,521,646
98$139,325,725$13,026,091$5,393,962$92,778,624
99$153,393,016$13,520,436$5,430,727$101,867,863
100$168,890,637$14,034,471$5,464,190$111,873,980