Can I retire at age 57 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$241,957$239,801$237,699$235,646$233,642$231,202
2 years$119,781$117,550$115,388$113,292$111,258$108,801
3 years$79,060$76,820$74,664$72,587$70,587$68,189
4 years$58,704$56,471$54,336$52,295$50,343$48,023
5 years$46,494$44,274$42,167$40,167$38,270$36,034
6 years$38,356$36,153$34,077$32,122$30,282$28,133
7 years$32,546$30,361$28,318$26,409$24,627$22,566
8 years$28,190$26,025$24,016$22,154$20,431$18,457
9 years$24,804$22,660$20,685$18,870$17,206$15,319
10 years$22,097$19,973$18,034$16,267$14,660$12,860
11 years$19,884$17,781$15,877$14,157$12,608$10,892
12 years$18,040$15,959$14,090$12,417$10,926$9,293
13 years$16,482$14,423$12,589$10,963$9,528$7,976
14 years$15,147$13,110$11,311$9,731$8,352$6,878
15 years$13,991$11,976$10,212$8,679$7,354$5,957
16 years$12,981$10,988$9,259$7,771$6,499$5,176
17 years$12,091$10,119$8,425$6,982$5,763$4,511
18 years$11,300$9,351$7,691$6,292$5,124$3,942
19 years$10,593$8,666$7,041$5,686$4,567$3,451
20 years$9,958$8,053$6,462$5,149$4,079$3,028
21 years$9,384$7,501$5,944$4,673$3,651$2,660
22 years$8,863$7,002$5,478$4,249$3,272$2,341
23 years$8,388$6,549$5,058$3,870$2,937$2,062
24 years$7,953$6,136$4,678$3,530$2,640$1,819
25 years$7,554$5,758$4,332$3,223$2,376$1,605
26 years$7,186$5,412$4,018$2,947$2,140$1,418
27 years$6,846$5,093$3,731$2,698$1,929$1,254
28 years$6,530$4,799$3,469$2,472$1,741$1,109
29 years$6,237$4,527$3,228$2,267$1,572$982
30 years$5,964$4,276$3,007$2,080$1,420$869
31 years$5,709$4,042$2,803$1,910$1,284$770
32 years$5,471$3,824$2,615$1,756$1,162$683
33 years$5,247$3,622$2,442$1,615$1,051$605
34 years$5,037$3,433$2,282$1,486$952$537
35 years$4,840$3,256$2,133$1,368$862$476
36 years$4,654$3,090$1,995$1,259$781$422
37 years$4,478$2,935$1,868$1,160$708$375
38 years$4,312$2,789$1,749$1,070$642$333
39 years$4,155$2,652$1,639$986$582$295
40 years$4,006$2,524$1,536$910$528$262
41 years$3,865$2,402$1,440$839$479$233
42 years$3,730$2,288$1,351$775$435$207
43 years$3,603$2,180$1,268$715$394$184
44 years$3,481$2,078$1,190$660$358$163
45 years$3,366$1,981$1,117$610$325$145
46 years$3,255$1,890$1,049$563$295$129
47 years$3,150$1,804$986$520$268$114
48 years$3,049$1,722$926$481$243$102
49 years$2,953$1,644$871$444$221$90
50 years$2,861$1,571$819$411$201$80

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,930,000, adding $3,604 every year, while hoping to spend $35,390 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: 40/36/24 Blend
56$2,930,000$2,930,000$2,930,000$2,930,000
57$3,232,578$3,077,288$3,031,873$3,338,806
58$3,524,646$3,190,420$3,095,786$3,528,876
59$3,845,319$3,307,910$3,160,654$3,730,766
60$4,197,477$3,429,933$3,226,471$3,948,485
61$4,584,293$3,556,673$3,293,232$4,183,499
62$5,009,263$3,688,322$3,360,927$4,437,419
63$5,476,237$3,825,079$3,429,547$4,712,016
64$5,989,457$3,967,152$3,499,081$5,009,235
65$6,553,597$4,114,758$3,569,515$5,331,216
66$7,173,806$4,268,123$3,640,836$5,680,309
67$7,855,756$4,427,482$3,713,025$6,059,099
68$8,605,696$4,593,082$3,786,065$6,470,431
69$9,430,513$4,765,179$3,859,934$6,917,432
70$10,337,793$4,944,041$3,934,610$7,403,539
71$11,335,895$5,129,945$4,010,066$7,932,538
72$12,434,028$5,323,184$4,086,275$8,508,591
73$13,642,339$5,524,061$4,163,205$9,136,277
74$14,972,009$5,732,892$4,240,825$9,820,637
75$16,435,358$5,950,007$4,319,096$10,567,216
76$18,045,959$6,175,751$4,397,980$11,382,119
77$19,818,767$6,410,484$4,477,433$12,272,063
78$21,770,265$6,654,581$4,557,410$13,244,443
79$23,918,609$6,908,433$4,637,861$14,307,400
80$26,283,810$7,172,449$4,718,731$15,469,894
81$28,887,914$7,447,054$4,799,965$16,741,790
82$31,755,216$7,732,695$4,881,499$18,133,951
83$34,912,487$8,029,836$4,963,267$19,658,336
84$38,389,223$8,338,960$5,045,200$21,328,113
85$42,217,930$8,660,576$5,127,220$23,157,782
86$46,434,425$8,995,210$5,209,248$25,163,313
87$51,078,176$9,343,414$5,291,197$27,362,289
88$56,192,673$9,705,765$5,372,975$29,774,076
89$61,825,842$10,082,864$5,454,486$32,420,002
90$68,030,492$10,475,338$5,535,625$35,323,557
91$74,864,816$10,883,843$5,616,283$38,510,614
92$82,392,940$11,309,065$5,696,341$42,009,669
93$90,685,528$11,751,717$5,775,677$45,852,110
94$99,820,449$12,212,548$5,854,159$50,072,511
95$109,883,508$12,692,337$5,931,647$54,708,956
96$120,969,263$13,191,898$6,007,994$59,803,397
97$133,181,911$13,712,084$6,083,045$65,402,047
98$146,636,272$14,253,783$6,156,633$71,555,814
99$161,458,878$14,817,924$6,228,586$78,320,781
100$177,789,159$15,405,478$6,298,719$85,758,729