Can I retire at age 57 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$238,653$236,528$234,454$232,429$230,453$226,170
2 years$118,145$115,945$113,812$111,745$109,739$105,440
3 years$77,981$75,771$73,644$71,596$69,623$65,442
4 years$57,903$55,700$53,594$51,581$49,656$45,625
5 years$45,859$43,669$41,591$39,619$37,748$33,878
6 years$37,833$35,659$33,612$31,684$29,868$26,165
7 years$32,102$29,947$27,932$26,049$24,291$20,755
8 years$27,805$25,670$23,688$21,852$20,152$16,781
9 years$24,466$22,350$20,403$18,613$16,971$13,764
10 years$21,795$19,701$17,788$16,044$14,460$11,415
11 years$19,612$17,538$15,660$13,964$12,436$9,548
12 years$17,794$15,741$13,898$12,248$10,777$8,042
13 years$16,257$14,226$12,417$10,813$9,398$6,812
14 years$14,940$12,931$11,156$9,599$8,238$5,797
15 years$13,800$11,812$10,073$8,560$7,253$4,952
16 years$12,804$10,838$9,132$7,665$6,410$4,244
17 years$11,925$9,981$8,310$6,887$5,684$3,647
18 years$11,146$9,223$7,586$6,206$5,054$3,141
19 years$10,449$8,548$6,945$5,608$4,505$2,710
20 years$9,822$7,943$6,374$5,079$4,024$2,342
21 years$9,256$7,399$5,862$4,610$3,601$2,027
22 years$8,742$6,906$5,403$4,191$3,228$1,757
23 years$8,274$6,459$4,989$3,817$2,897$1,524
24 years$7,845$6,052$4,614$3,481$2,604$1,323
25 years$7,451$5,679$4,273$3,179$2,343$1,150
26 years$7,088$5,338$3,963$2,907$2,111$1,000
27 years$6,752$5,024$3,680$2,661$1,903$870
28 years$6,441$4,734$3,421$2,438$1,717$757
29 years$6,152$4,466$3,184$2,236$1,551$659
30 years$5,883$4,217$2,966$2,052$1,401$574
31 years$5,631$3,987$2,765$1,884$1,267$501
32 years$5,396$3,772$2,580$1,732$1,146$436
33 years$5,176$3,572$2,409$1,593$1,037$380
34 years$4,968$3,386$2,250$1,465$939$332
35 years$4,774$3,211$2,104$1,349$850$289
36 years$4,590$3,048$1,968$1,242$770$252
37 years$4,417$2,895$1,842$1,145$698$220
38 years$4,253$2,751$1,725$1,055$633$192
39 years$4,098$2,616$1,616$973$574$168
40 years$3,951$2,489$1,515$897$521$146
41 years$3,812$2,369$1,421$828$472$128
42 years$3,679$2,257$1,332$764$429$112
43 years$3,554$2,150$1,250$705$389$97
44 years$3,434$2,049$1,174$651$353$85
45 years$3,320$1,954$1,102$601$321$74
46 years$3,211$1,864$1,035$555$291$65
47 years$3,107$1,779$972$513$264$57
48 years$3,007$1,698$914$474$240$49
49 years$2,913$1,622$859$438$218$43
50 years$2,822$1,549$808$405$198$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,890,000, adding $5,541 every year, while hoping to spend $40,832 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: 43/30/27 Blend
56$2,890,000$2,890,000$2,890,000$2,890,000
57$3,190,496$3,037,326$2,992,531$3,302,359
58$3,472,481$3,142,710$3,049,335$3,488,320
59$3,781,861$3,251,889$3,106,675$3,685,374
60$4,121,386$3,365,006$3,164,523$3,898,097
61$4,494,086$3,482,211$3,222,854$4,127,964
62$4,903,299$3,603,656$3,281,636$4,376,597
63$5,352,703$3,729,502$3,340,838$4,645,781
64$5,846,349$3,859,918$3,400,426$4,937,477
65$6,388,697$3,995,075$3,460,362$5,253,844
66$6,984,665$4,135,154$3,520,604$5,597,258
67$7,639,668$4,280,344$3,581,112$5,970,331
68$8,359,672$4,430,838$3,641,837$6,375,940
69$9,151,250$4,586,841$3,702,730$6,817,250
70$10,021,645$4,748,563$3,763,738$7,297,743
71$10,978,833$4,916,224$3,824,804$7,821,254
72$12,031,608$5,090,052$3,885,868$8,392,003
73$13,189,652$5,270,285$3,946,865$9,014,637
74$14,463,638$5,457,170$4,007,727$9,694,271
75$15,865,322$5,650,965$4,068,379$10,436,537
76$17,407,660$5,851,937$4,128,745$11,247,637
77$19,104,925$6,060,365$4,188,741$12,134,398
78$20,972,843$6,276,539$4,248,280$13,104,341
79$23,028,745$6,500,761$4,307,269$14,165,746
80$25,291,724$6,733,345$4,365,609$15,327,732
81$27,782,819$6,974,619$4,423,196$16,600,344
82$30,525,213$7,224,921$4,479,920$17,994,642
83$33,544,450$7,484,608$4,535,663$19,522,811
84$36,868,678$7,754,048$4,590,302$21,198,270
85$40,528,912$8,033,625$4,643,706$23,035,801
86$44,559,329$8,323,740$4,695,737$25,051,686
87$48,997,586$8,624,810$4,746,250$27,263,861
88$53,885,182$8,937,267$4,795,092$29,692,084
89$59,267,842$9,261,565$4,842,099$32,358,120
90$65,195,955$9,598,175$4,887,102$35,285,946
91$71,725,043$9,947,586$4,929,921$38,501,977
92$78,916,290$10,310,310$4,970,366$42,035,314
93$86,837,116$10,686,879$5,008,237$45,918,016
94$95,561,813$11,077,849$5,043,325$50,185,405
95$105,172,251$11,483,796$5,075,409$54,876,394
96$115,758,641$11,905,323$5,104,256$60,033,856
97$127,420,397$12,343,057$5,129,623$65,705,030
98$140,267,064$12,797,654$5,151,252$71,941,959
99$154,419,359$13,269,794$5,168,874$78,801,985
100$170,010,308$13,760,188$5,182,205$86,348,289