Can I retire at age 57 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$240,305$238,165$236,076$234,038$232,047$229,529
2 years$118,963$116,747$114,600$112,518$110,499$107,963
3 years$78,521$76,296$74,154$72,091$70,105$67,630
4 years$58,304$56,085$53,965$51,938$49,999$47,605
5 years$46,177$43,972$41,879$39,893$38,009$35,702
6 years$38,095$35,906$33,845$31,903$30,075$27,859
7 years$32,324$30,154$28,125$26,229$24,459$22,334
8 years$27,998$25,847$23,852$22,003$20,291$18,257
9 years$24,635$22,505$20,544$18,742$17,088$15,144
10 years$21,946$19,837$17,911$16,156$14,560$12,705
11 years$19,748$17,660$15,768$14,060$12,522$10,755
12 years$17,917$15,850$13,994$12,333$10,851$9,170
13 years$16,369$14,324$12,503$10,888$9,463$7,865
14 years$15,044$13,020$11,234$9,665$8,295$6,778
15 years$13,896$11,894$10,142$8,620$7,303$5,866
16 years$12,892$10,913$9,196$7,718$6,455$5,094
17 years$12,008$10,050$8,368$6,934$5,723$4,436
18 years$11,223$9,287$7,639$6,249$5,089$3,874
19 years$10,521$8,607$6,993$5,647$4,536$3,389
20 years$9,890$7,998$6,418$5,114$4,051$2,971
21 years$9,320$7,450$5,903$4,641$3,626$2,609
22 years$8,803$6,954$5,441$4,220$3,250$2,294
23 years$8,331$6,504$5,023$3,843$2,917$2,019
24 years$7,899$6,094$4,646$3,505$2,622$1,779
25 years$7,502$5,719$4,303$3,201$2,359$1,569
26 years$7,137$5,375$3,991$2,927$2,125$1,385
27 years$6,799$5,058$3,706$2,679$1,916$1,224
28 years$6,486$4,766$3,445$2,455$1,729$1,082
29 years$6,195$4,497$3,206$2,251$1,561$957
30 years$5,924$4,246$2,986$2,066$1,411$846
31 years$5,670$4,014$2,784$1,897$1,275$749
32 years$5,433$3,798$2,597$1,744$1,154$663
33 years$5,211$3,597$2,425$1,604$1,044$588
34 years$5,003$3,409$2,266$1,475$945$521
35 years$4,807$3,234$2,119$1,358$856$462
36 years$4,622$3,069$1,982$1,251$776$409
37 years$4,447$2,915$1,855$1,152$703$363
38 years$4,282$2,770$1,737$1,062$637$322
39 years$4,126$2,634$1,627$979$578$285
40 years$3,978$2,506$1,525$903$524$253
41 years$3,838$2,386$1,430$834$476$225
42 years$3,705$2,272$1,342$769$432$199
43 years$3,578$2,165$1,259$710$392$177
44 years$3,457$2,064$1,182$656$356$157
45 years$3,343$1,968$1,110$606$323$139
46 years$3,233$1,877$1,042$559$293$124
47 years$3,128$1,791$979$517$266$110
48 years$3,028$1,710$920$477$242$97
49 years$2,933$1,633$865$441$219$87
50 years$2,841$1,560$813$408$199$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,910,000, adding $5,146 every year, while hoping to spend $23,555 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: 47/23/30 Blend
56$2,910,000$2,910,000$2,910,000$2,910,000
57$3,212,128$3,057,898$3,012,793$3,335,218
58$3,514,703$3,182,673$3,088,659$3,547,663
59$3,847,351$3,312,772$3,166,278$3,775,464
60$4,213,114$3,448,432$3,245,682$4,022,314
61$4,615,346$3,589,899$3,326,906$4,290,019
62$5,057,739$3,737,431$3,409,985$4,580,566
63$5,544,362$3,891,299$3,494,953$4,896,138
64$6,079,698$4,051,784$3,581,846$5,239,135
65$6,668,689$4,219,183$3,670,698$5,612,200
66$7,316,775$4,393,803$3,761,547$6,018,235
67$8,029,954$4,575,967$3,854,427$6,460,438
68$8,814,834$4,766,014$3,949,375$6,942,322
69$9,678,695$4,964,297$4,046,427$7,467,755
70$10,629,559$5,171,185$4,145,620$8,040,994
71$11,676,267$5,387,065$4,246,990$8,666,720
72$12,828,557$5,612,342$4,350,575$9,350,088
73$14,097,161$5,847,439$4,456,411$10,096,770
74$15,493,907$6,092,799$4,564,536$10,913,009
75$17,031,823$6,348,884$4,674,986$11,805,678
76$18,725,270$6,616,180$4,787,799$12,782,343
77$20,590,069$6,895,194$4,903,011$13,851,331
78$22,643,653$7,186,456$5,020,660$15,021,813
79$24,905,236$7,490,522$5,140,782$16,303,885
80$27,395,986$7,807,973$5,263,414$17,708,662
81$30,139,230$8,139,418$5,388,592$19,248,385
82$33,160,674$8,485,492$5,516,352$20,936,533
83$36,488,644$8,846,862$5,646,731$22,787,948
84$40,154,352$9,224,224$5,779,763$24,818,977
85$44,192,194$9,618,310$5,915,483$27,047,620
86$48,640,072$10,029,881$6,053,926$29,493,705
87$53,539,753$10,459,739$6,195,126$32,179,066
88$58,937,260$10,908,718$6,339,115$35,127,755
89$64,883,311$11,377,696$6,485,926$38,366,260
90$71,433,795$11,867,589$6,635,591$41,923,761
91$78,650,298$12,379,357$6,788,139$45,832,396
92$86,600,688$12,914,005$6,943,601$50,127,568
93$95,359,751$13,472,584$7,102,005$54,848,276
94$105,009,901$14,056,197$7,263,377$60,037,478
95$115,641,955$14,665,995$7,427,745$65,742,500
96$127,355,992$15,303,186$7,595,132$72,015,473
97$140,262,295$15,969,033$7,765,560$78,913,832
98$154,482,394$16,664,862$7,939,052$86,500,847
99$170,150,215$17,392,056$8,115,626$94,846,224
100$187,413,337$18,152,067$8,295,300$104,026,756