Can I retire at age 57 with 294,000?

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 $294,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$24,278$24,062$23,851$23,645$23,444$22,739
2 years$12,019$11,795$11,578$11,368$11,164$10,460
3 years$7,933$7,708$7,492$7,283$7,083$6,401
4 years$5,890$5,666$5,452$5,247$5,051$4,398
5 years$4,665$4,442$4,231$4,030$3,840$3,216
6 years$3,849$3,628$3,419$3,223$3,039$2,445
7 years$3,266$3,046$2,841$2,650$2,471$1,908
8 years$2,829$2,611$2,410$2,223$2,050$1,517
9 years$2,489$2,274$2,076$1,893$1,726$1,222
10 years$2,217$2,004$1,810$1,632$1,471$996
11 years$1,995$1,784$1,593$1,421$1,265$818
12 years$1,810$1,601$1,414$1,246$1,096$676
13 years$1,654$1,447$1,263$1,100$956$561
14 years$1,520$1,315$1,135$976$838$468
15 years$1,404$1,202$1,025$871$738$392
16 years$1,303$1,103$929$780$652$329
17 years$1,213$1,015$845$701$578$277
18 years$1,134$938$772$631$514$233
19 years$1,063$870$706$570$458$197
20 years$999$808$648$517$409$167
21 years$942$753$596$469$366$141
22 years$889$703$550$426$328$120
23 years$842$657$508$388$295$101
24 years$798$616$469$354$265$86
25 years$758$578$435$323$238$73
26 years$721$543$403$296$215$62
27 years$687$511$374$271$194$53
28 years$655$482$348$248$175$45
29 years$626$454$324$227$158$38
30 years$598$429$302$209$143$32
31 years$573$406$281$192$129$28
32 years$549$384$262$176$117$23
33 years$527$363$245$162$105$20
34 years$505$344$229$149$96$17
35 years$486$327$214$137$87$14
36 years$467$310$200$126$78$12
37 years$449$295$187$116$71$10
38 years$433$280$175$107$64$9
39 years$417$266$164$99$58$8
40 years$402$253$154$91$53$6
41 years$388$241$145$84$48$6
42 years$374$230$136$78$44$5
43 years$362$219$127$72$40$4
44 years$349$208$119$66$36$3
45 years$338$199$112$61$33$3
46 years$327$190$105$57$30$2
47 years$316$181$99$52$27$2
48 years$306$173$93$48$24$2
49 years$296$165$87$45$22$2
50 years$287$158$82$41$20$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $294,000, adding $4,650 every year, while hoping to spend $21,191 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: 50/21/29 Blend
56$294,000$294,000$294,000$294,000
57$328,784$313,202$308,645$342,321
58$339,773$306,002$296,438$345,072
59$351,173$297,739$283,111$345,589
60$363,003$288,338$268,606$345,741
61$375,283$277,721$252,858$345,503
62$388,037$265,805$235,804$344,849
63$401,288$252,500$217,375$343,753
64$415,061$237,714$197,498$342,186
65$429,383$221,348$176,100$340,120
66$444,284$203,298$153,103$337,524
67$459,794$183,453$128,426$334,367
68$475,948$161,696$101,982$330,616
69$492,780$137,906$73,685$326,237
70$510,331$111,950$43,440$321,196
71$528,641$83,692$11,152$315,456
72$547,756$52,986$0$308,980
73$567,724$19,680$0$308,940
74$588,599$0$0$312,237
75$610,435$0$0$319,198
76$633,296$0$0$331,254
77$657,247$0$0$343,894
78$682,362$0$0$357,157
79$708,717$0$0$371,086
80$736,398$0$0$385,726
81$765,497$0$0$401,129
82$796,115$0$0$417,349
83$828,361$0$0$434,445
84$862,354$0$0$452,483
85$898,224$0$0$471,533
86$936,111$0$0$491,672
87$976,171$0$0$512,985
88$1,018,570$0$0$535,563
89$1,063,494$0$0$559,507
90$1,111,142$0$0$584,927
91$1,161,734$0$0$611,943
92$1,215,510$0$0$640,686
93$1,272,733$0$0$671,301
94$1,333,689$0$0$703,943
95$1,398,694$0$0$738,787
96$1,468,091$0$0$776,021
97$1,542,260$0$0$815,851
98$1,621,612$0$0$858,505
99$1,706,603$0$0$904,233
100$1,797,731$0$0$953,307