Can I retire at age 57 with 2,920,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
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 $2,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$241,131$238,983$236,887$234,842$232,845$229,271
2 years$119,372$117,149$114,994$112,905$110,879$107,286
3 years$78,791$76,558$74,409$72,339$70,346$66,847
4 years$58,504$56,278$54,150$52,116$50,171$46,793
5 years$46,335$44,123$42,023$40,030$38,139$34,892
6 years$38,225$36,030$33,961$32,013$30,178$27,065
7 years$32,435$30,258$28,222$26,319$24,543$21,565
8 years$28,094$25,936$23,934$22,079$20,361$17,517
9 years$24,720$22,582$20,614$18,806$17,147$14,437
10 years$22,022$19,905$17,972$16,211$14,610$12,031
11 years$19,816$17,720$15,822$14,108$12,565$10,114
12 years$17,979$15,905$14,042$12,375$10,889$8,563
13 years$16,425$14,373$12,546$10,925$9,495$7,292
14 years$15,095$13,065$11,272$9,698$8,323$6,239
15 years$13,944$11,935$10,177$8,649$7,329$5,359
16 years$12,937$10,950$9,227$7,744$6,477$4,618
17 years$12,049$10,085$8,396$6,958$5,743$3,991
18 years$11,261$9,319$7,665$6,271$5,106$3,457
19 years$10,557$8,637$7,017$5,666$4,551$3,001
20 years$9,924$8,025$6,440$5,132$4,065$2,609
21 years$9,352$7,475$5,923$4,657$3,638$2,272
22 years$8,833$6,978$5,459$4,235$3,261$1,981
23 years$8,360$6,526$5,041$3,857$2,927$1,729
24 years$7,926$6,115$4,662$3,517$2,631$1,511
25 years$7,528$5,738$4,318$3,212$2,368$1,321
26 years$7,161$5,393$4,004$2,937$2,133$1,156
27 years$6,822$5,076$3,718$2,688$1,923$1,012
28 years$6,508$4,783$3,457$2,463$1,735$887
29 years$6,216$4,512$3,217$2,259$1,567$777
30 years$5,944$4,261$2,996$2,073$1,416$682
31 years$5,690$4,028$2,793$1,904$1,280$598
32 years$5,452$3,811$2,606$1,750$1,158$525
33 years$5,229$3,609$2,434$1,609$1,048$461
34 years$5,020$3,421$2,274$1,480$949$404
35 years$4,823$3,245$2,126$1,363$859$355
36 years$4,638$3,080$1,989$1,255$778$312
37 years$4,463$2,925$1,861$1,156$706$274
38 years$4,297$2,780$1,743$1,066$640$241
39 years$4,140$2,643$1,633$983$580$212
40 years$3,992$2,515$1,531$907$526$186
41 years$3,851$2,394$1,435$836$477$163
42 years$3,718$2,280$1,346$772$433$144
43 years$3,590$2,172$1,263$713$393$126
44 years$3,469$2,071$1,186$658$357$111
45 years$3,354$1,975$1,113$608$324$98
46 years$3,244$1,884$1,046$561$294$86
47 years$3,139$1,798$983$519$267$75
48 years$3,039$1,716$923$479$243$66
49 years$2,943$1,639$868$443$220$58
50 years$2,851$1,565$816$409$200$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,920,000, adding $3,622 every year, while hoping to spend $23,211 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: 44/50/6 Blend
56$2,920,000$2,920,000$2,920,000$2,920,000
57$3,221,576$3,066,816$3,021,556$3,357,723
58$3,525,481$3,192,394$3,098,082$3,577,721
59$3,859,605$3,323,347$3,176,393$3,813,328
60$4,227,008$3,459,914$3,256,526$4,068,130
61$4,631,059$3,602,345$3,338,515$4,343,894
62$5,075,469$3,750,902$3,422,397$4,642,560
63$5,564,327$3,905,858$3,508,209$4,966,256
64$6,102,142$4,067,497$3,595,986$5,317,319
65$6,693,876$4,236,120$3,685,767$5,698,316
66$7,345,000$4,412,039$3,777,590$6,112,066
67$8,061,542$4,595,581$3,871,491$6,561,665
68$8,850,143$4,787,088$3,967,510$7,050,515
69$9,718,121$4,986,919$4,065,684$7,582,354
70$10,673,538$5,195,446$4,166,053$8,161,291
71$11,725,278$5,413,063$4,268,656$8,791,842
72$12,883,132$5,640,179$4,373,532$9,478,971
73$14,157,887$5,877,222$4,480,720$10,228,136
74$15,561,427$6,124,642$4,590,260$11,045,338
75$17,106,851$6,382,908$4,702,192$11,937,175
76$18,808,590$6,652,511$4,816,556$12,910,907
77$20,682,547$6,933,965$4,933,391$13,974,516
78$22,746,246$7,227,808$5,052,738$15,136,783
79$25,018,994$7,534,602$5,174,637$16,407,370
80$27,522,072$7,854,937$5,299,127$17,796,904
81$30,278,924$8,189,430$5,426,248$19,317,080
82$33,315,387$8,538,725$5,556,041$20,980,768
83$36,659,932$8,903,498$5,688,544$22,802,127
84$40,343,931$9,284,456$5,823,796$24,796,745
85$44,401,956$9,682,338$5,961,837$26,981,774
86$48,872,103$10,097,919$6,102,705$29,376,094
87$53,796,350$10,532,010$6,246,439$32,000,489
88$59,220,958$10,985,459$6,393,075$34,877,837
89$65,196,904$11,459,155$6,542,651$38,033,322
90$71,780,361$11,954,027$6,695,203$41,494,675
91$79,033,233$12,471,049$6,850,767$45,292,421
92$87,023,732$13,011,240$7,009,378$49,460,175
93$95,827,030$13,575,667$7,171,069$54,034,946
94$105,525,960$14,165,449$7,335,873$59,057,488
95$116,211,806$14,781,753$7,503,822$64,572,676
96$127,985,157$15,425,806$7,674,947$70,629,930
97$140,956,861$16,098,889$7,849,276$77,283,673
98$155,249,072$16,802,345$8,026,838$84,593,840
99$170,996,399$17,537,581$8,207,658$92,626,440
100$188,347,178$18,306,070$8,391,762$101,454,173