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%12%
1 years$241,131$238,983$236,887$234,842$232,845$230,894
2 years$119,372$117,149$114,994$112,905$110,879$108,912
3 years$78,791$76,558$74,409$72,339$70,346$68,425
4 years$58,504$56,278$54,150$52,116$50,171$48,311
5 years$46,335$44,123$42,023$40,030$38,139$36,345
6 years$38,225$36,030$33,961$32,013$30,178$28,452
7 years$32,435$30,258$28,222$26,319$24,543$22,886
8 years$28,094$25,936$23,934$22,079$20,361$18,772
9 years$24,720$22,582$20,614$18,806$17,147$15,627
10 years$22,022$19,905$17,972$16,211$14,610$13,157
11 years$19,816$17,720$15,822$14,108$12,565$11,179
12 years$17,979$15,905$14,042$12,375$10,889$9,568
13 years$16,425$14,373$12,546$10,925$9,495$8,238
14 years$15,095$13,065$11,272$9,698$8,323$7,128
15 years$13,944$11,935$10,177$8,649$7,329$6,194
16 years$12,937$10,950$9,227$7,744$6,477$5,401
17 years$12,049$10,085$8,396$6,958$5,743$4,723
18 years$11,261$9,319$7,665$6,271$5,106$4,142
19 years$10,557$8,637$7,017$5,666$4,551$3,640
20 years$9,924$8,025$6,440$5,132$4,065$3,205
21 years$9,352$7,475$5,923$4,657$3,638$2,826
22 years$8,833$6,978$5,459$4,235$3,261$2,496
23 years$8,360$6,526$5,041$3,857$2,927$2,207
24 years$7,926$6,115$4,662$3,517$2,631$1,954
25 years$7,528$5,738$4,318$3,212$2,368$1,732
26 years$7,161$5,393$4,004$2,937$2,133$1,536
27 years$6,822$5,076$3,718$2,688$1,923$1,363
28 years$6,508$4,783$3,457$2,463$1,735$1,211
29 years$6,216$4,512$3,217$2,259$1,567$1,076
30 years$5,944$4,261$2,996$2,073$1,416$957
31 years$5,690$4,028$2,793$1,904$1,280$851
32 years$5,452$3,811$2,606$1,750$1,158$757
33 years$5,229$3,609$2,434$1,609$1,048$674
34 years$5,020$3,421$2,274$1,480$949$600
35 years$4,823$3,245$2,126$1,363$859$535
36 years$4,638$3,080$1,989$1,255$778$477
37 years$4,463$2,925$1,861$1,156$706$425
38 years$4,297$2,780$1,743$1,066$640$379
39 years$4,140$2,643$1,633$983$580$338
40 years$3,992$2,515$1,531$907$526$301
41 years$3,851$2,394$1,435$836$477$268
42 years$3,718$2,280$1,346$772$433$239
43 years$3,590$2,172$1,263$713$393$214
44 years$3,469$2,071$1,186$658$357$191
45 years$3,354$1,975$1,113$608$324$170
46 years$3,244$1,884$1,046$561$294$152
47 years$3,139$1,798$983$519$267$135
48 years$3,039$1,716$923$479$243$121
49 years$2,943$1,639$868$443$220$108
50 years$2,851$1,565$816$409$200$96

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 $5,103 every year, while hoping to spend $52,605 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: 72/6/22 Blend
56$2,920,000$2,920,000$2,920,000$2,920,000
57$3,223,104$3,068,344$3,023,084$3,437,379
58$3,495,889$3,162,721$3,068,386$3,675,186
59$3,794,735$3,259,960$3,113,442$3,928,815
60$4,122,245$3,360,145$3,158,190$4,205,307
61$4,481,285$3,463,363$3,202,560$4,506,926
62$4,875,012$3,569,704$3,246,482$4,836,166
63$5,306,904$3,679,260$3,289,879$5,195,776
64$5,780,789$3,792,125$3,332,671$5,588,781
65$6,300,887$3,908,396$3,374,773$6,018,517
66$6,871,845$4,028,175$3,416,095$6,488,655
67$7,498,780$4,151,563$3,456,541$7,003,242
68$8,187,332$4,278,666$3,496,012$7,566,736
69$8,943,713$4,409,593$3,534,401$8,184,049
70$9,774,764$4,544,455$3,571,596$8,860,591
71$10,688,024$4,683,368$3,607,479$9,602,325
72$11,691,798$4,826,449$3,641,925$10,415,818
73$12,795,236$4,973,819$3,674,804$11,308,308
74$14,008,416$5,125,603$3,705,976$12,287,771
75$15,342,446$5,281,928$3,735,297$13,362,991
76$16,809,559$5,442,926$3,762,613$14,543,652
77$18,423,236$5,608,732$3,787,763$15,840,420
78$20,198,330$5,779,484$3,810,577$17,265,051
79$22,151,206$5,955,324$3,830,877$18,830,498
80$24,299,893$6,136,399$3,848,476$20,551,034
81$26,664,258$6,322,859$3,863,176$22,442,386
82$29,266,190$6,514,857$3,874,770$24,521,885
83$32,129,808$6,712,551$3,883,041$26,808,628
84$35,281,686$6,916,104$3,887,761$29,323,660
85$38,751,107$7,125,682$3,888,690$32,090,170
86$42,570,336$7,341,457$3,885,577$35,133,713
87$46,774,925$7,563,602$3,878,158$38,482,449
88$51,404,047$7,792,299$3,866,157$42,167,409
89$56,500,870$8,027,732$3,849,283$46,222,788
90$62,112,958$8,270,089$3,827,233$50,686,269
91$68,292,721$8,519,566$3,799,687$55,599,378
92$75,097,915$8,776,360$3,766,313$61,007,876
93$82,592,177$9,040,677$3,726,759$66,962,189
94$90,845,633$9,312,724$3,680,660$73,517,890
95$99,935,557$9,592,717$3,627,631$80,736,216
96$109,947,099$9,880,876$3,567,272$88,684,652
97$120,974,089$10,177,425$3,499,162$97,437,566
98$133,119,923$10,482,594$3,422,860$107,076,909
99$146,498,535$10,796,621$3,337,905$117,692,994
100$161,235,477$11,119,748$3,243,817$129,385,346