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%12.3%
1 years$241,957$239,801$237,699$235,646$233,642$231,395
2 years$119,781$117,550$115,388$113,292$111,258$108,994
3 years$79,060$76,820$74,664$72,587$70,587$68,377
4 years$58,704$56,471$54,336$52,295$50,343$48,203
5 years$46,494$44,274$42,167$40,167$38,270$36,207
6 years$38,356$36,153$34,077$32,122$30,282$28,299
7 years$32,546$30,361$28,318$26,409$24,627$22,724
8 years$28,190$26,025$24,016$22,154$20,431$18,608
9 years$24,804$22,660$20,685$18,870$17,206$15,463
10 years$22,097$19,973$18,034$16,267$14,660$12,996
11 years$19,884$17,781$15,877$14,157$12,608$11,021
12 years$18,040$15,959$14,090$12,417$10,926$9,415
13 years$16,482$14,423$12,589$10,963$9,528$8,090
14 years$15,147$13,110$11,311$9,731$8,352$6,987
15 years$13,991$11,976$10,212$8,679$7,354$6,059
16 years$12,981$10,988$9,259$7,771$6,499$5,272
17 years$12,091$10,119$8,425$6,982$5,763$4,601
18 years$11,300$9,351$7,691$6,292$5,124$4,026
19 years$10,593$8,666$7,041$5,686$4,567$3,530
20 years$9,958$8,053$6,462$5,149$4,079$3,102
21 years$9,384$7,501$5,944$4,673$3,651$2,729
22 years$8,863$7,002$5,478$4,249$3,272$2,405
23 years$8,388$6,549$5,058$3,870$2,937$2,122
24 years$7,953$6,136$4,678$3,530$2,640$1,874
25 years$7,554$5,758$4,332$3,223$2,376$1,657
26 years$7,186$5,412$4,018$2,947$2,140$1,466
27 years$6,846$5,093$3,731$2,698$1,929$1,298
28 years$6,530$4,799$3,469$2,472$1,741$1,150
29 years$6,237$4,527$3,228$2,267$1,572$1,020
30 years$5,964$4,276$3,007$2,080$1,420$905
31 years$5,709$4,042$2,803$1,910$1,284$803
32 years$5,471$3,824$2,615$1,756$1,162$713
33 years$5,247$3,622$2,442$1,615$1,051$633
34 years$5,037$3,433$2,282$1,486$952$562
35 years$4,840$3,256$2,133$1,368$862$499
36 years$4,654$3,090$1,995$1,259$781$444
37 years$4,478$2,935$1,868$1,160$708$395
38 years$4,312$2,789$1,749$1,070$642$351
39 years$4,155$2,652$1,639$986$582$312
40 years$4,006$2,524$1,536$910$528$278
41 years$3,865$2,402$1,440$839$479$247
42 years$3,730$2,288$1,351$775$435$220
43 years$3,603$2,180$1,268$715$394$195
44 years$3,481$2,078$1,190$660$358$174
45 years$3,366$1,981$1,117$610$325$155
46 years$3,255$1,890$1,049$563$295$138
47 years$3,150$1,804$986$520$268$123
48 years$3,049$1,722$926$481$243$109
49 years$2,953$1,644$871$444$221$97
50 years$2,861$1,571$819$411$201$86

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 $6,821 every year, while hoping to spend $36,383 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: 60/12/28 Blend
56$2,930,000$2,930,000$2,930,000$2,930,000
57$3,235,896$3,080,606$3,035,191$3,405,147
58$3,527,246$3,192,844$3,098,159$3,633,635
59$3,847,094$3,309,363$3,162,016$3,878,359
60$4,198,310$3,430,333$3,226,755$4,144,640
61$4,584,051$3,555,934$3,292,366$4,434,589
62$5,007,800$3,686,350$3,358,836$4,750,526
63$5,473,391$3,821,777$3,426,152$5,095,008
64$5,985,049$3,962,415$3,494,300$5,470,849
65$6,547,426$4,108,476$3,563,261$5,881,147
66$7,165,651$4,260,179$3,633,018$6,329,316
67$7,845,372$4,417,753$3,703,549$6,819,113
68$8,592,813$4,581,435$3,774,830$7,354,676
69$9,414,830$4,751,476$3,846,837$7,940,562
70$10,318,977$4,928,133$3,919,541$8,581,792
71$11,313,579$5,111,677$3,992,911$9,283,894
72$12,407,804$5,302,389$4,066,914$10,052,958
73$13,611,759$5,500,565$4,141,514$10,895,690
74$14,936,574$5,706,509$4,216,671$11,819,480
75$16,394,519$5,920,541$4,292,343$12,832,466
76$17,999,107$6,142,996$4,368,484$13,943,615
77$19,765,233$6,374,219$4,445,045$15,162,801
78$21,709,305$6,614,574$4,521,973$16,500,907
79$23,849,405$6,864,439$4,599,210$17,969,918
80$26,205,456$7,124,209$4,676,695$19,583,041
81$28,799,412$7,394,294$4,754,364$21,354,823
82$31,655,463$7,675,126$4,832,147$23,301,294
83$34,800,265$7,967,151$4,909,968$25,440,113
84$38,263,188$8,270,838$4,987,748$27,790,737
85$42,076,599$8,586,675$5,065,403$30,374,602
86$46,276,160$8,915,170$5,142,842$33,215,327
87$50,901,170$9,256,855$5,219,969$36,338,937
88$55,994,934$9,612,286$5,296,683$39,774,104
89$61,605,170$9,982,040$5,372,874$43,552,422
90$67,784,461$10,366,724$5,448,429$47,708,700
91$74,590,750$10,766,967$5,523,225$52,281,297
92$82,087,887$11,183,429$5,597,134$57,312,475
93$90,346,231$11,616,797$5,670,018$62,848,804
94$99,443,316$12,067,789$5,741,733$68,941,597
95$109,464,580$12,537,156$5,812,126$75,647,395
96$120,504,171$13,025,681$5,881,036$83,028,503
97$132,665,837$13,534,180$5,948,292$91,153,572
98$146,063,906$14,063,509$6,013,714$100,098,252
99$160,824,362$14,614,558$6,077,111$109,945,899
100$177,086,036$15,188,260$6,138,282$120,788,370