Can I retire at age 57 with 2,950,000?

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 $2,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$243,608$241,438$239,321$237,255$235,237$234,049
2 years$120,598$118,352$116,175$114,065$112,018$110,819
3 years$79,600$77,344$75,173$73,082$71,069$69,896
4 years$59,105$56,856$54,707$52,652$50,687$49,549
5 years$46,811$44,576$42,455$40,442$38,531$37,432
6 years$38,618$36,400$34,310$32,341$30,488$29,429
7 years$32,768$30,568$28,512$26,590$24,795$23,777
8 years$28,383$26,203$24,180$22,305$20,570$19,592
9 years$24,974$22,814$20,826$18,999$17,323$16,385
10 years$22,248$20,110$18,157$16,378$14,760$13,862
11 years$20,019$17,902$15,985$14,253$12,694$11,836
12 years$18,163$16,068$14,186$12,502$11,000$10,181
13 years$16,594$14,521$12,674$11,038$9,593$8,811
14 years$15,250$13,199$11,388$9,798$8,409$7,664
15 years$14,087$12,058$10,282$8,738$7,404$6,695
16 years$13,070$11,063$9,322$7,824$6,544$5,869
17 years$12,173$10,188$8,483$7,030$5,802$5,162
18 years$11,377$9,414$7,744$6,335$5,159$4,552
19 years$10,666$8,725$7,089$5,724$4,598$4,023
20 years$10,026$8,108$6,506$5,185$4,107$3,563
21 years$9,448$7,552$5,984$4,705$3,675$3,161
22 years$8,924$7,050$5,515$4,278$3,295$2,808
23 years$8,445$6,593$5,092$3,896$2,957$2,498
24 years$8,008$6,178$4,710$3,554$2,658$2,225
25 years$7,606$5,797$4,362$3,245$2,392$1,984
26 years$7,235$5,449$4,046$2,967$2,155$1,771
27 years$6,892$5,128$3,757$2,716$1,943$1,582
28 years$6,575$4,832$3,492$2,489$1,753$1,414
29 years$6,280$4,558$3,250$2,282$1,583$1,265
30 years$6,005$4,305$3,027$2,094$1,430$1,132
31 years$5,748$4,070$2,822$1,923$1,293$1,013
32 years$5,508$3,851$2,633$1,768$1,170$908
33 years$5,283$3,647$2,459$1,626$1,058$813
34 years$5,072$3,456$2,297$1,496$958$729
35 years$4,873$3,278$2,148$1,377$868$654
36 years$4,685$3,111$2,009$1,268$786$587
37 years$4,508$2,955$1,880$1,168$713$526
38 years$4,341$2,808$1,761$1,077$646$472
39 years$4,183$2,671$1,650$993$586$424
40 years$4,033$2,541$1,546$916$531$381
41 years$3,891$2,419$1,450$845$482$342
42 years$3,756$2,303$1,360$780$438$307
43 years$3,627$2,195$1,276$720$397$276
44 years$3,505$2,092$1,198$665$360$248
45 years$3,388$1,995$1,125$614$327$223
46 years$3,277$1,903$1,057$567$297$200
47 years$3,171$1,816$993$524$270$180
48 years$3,070$1,734$933$484$245$161
49 years$2,973$1,656$877$447$223$145
50 years$2,880$1,581$824$414$202$130

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,950,000, adding $3,401 every year, while hoping to spend $48,321 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: 58/12/30 Blend
56$2,950,000$2,950,000$2,950,000$2,950,000
57$3,254,408$3,098,058$3,052,333$3,416,184
58$3,534,945$3,198,450$3,103,173$3,628,015
59$3,842,476$3,302,141$3,154,097$3,853,541
60$4,179,706$3,409,243$3,205,056$4,098,491
61$4,549,609$3,519,869$3,255,999$4,364,769
62$4,955,466$3,634,139$3,306,871$4,654,467
63$5,400,886$3,752,175$3,357,614$4,969,890
64$5,889,848$3,874,103$3,408,166$5,313,579
65$6,426,733$4,000,055$3,458,460$5,688,330
66$7,016,369$4,130,166$3,508,427$6,097,223
67$7,664,071$4,264,578$3,557,992$6,543,652
68$8,375,699$4,403,434$3,607,077$7,031,355
69$9,157,704$4,546,886$3,655,598$7,564,448
70$10,017,195$4,695,089$3,703,467$8,147,469
71$10,962,005$4,848,205$3,750,589$8,785,415
72$12,000,762$5,006,399$3,796,866$9,483,791
73$13,142,972$5,169,845$3,842,193$10,248,662
74$14,399,109$5,338,721$3,886,460$11,086,710
75$15,780,711$5,513,211$3,929,550$12,005,300
76$17,300,493$5,693,508$3,971,339$13,012,543
77$18,972,463$5,879,809$4,011,698$14,117,376
78$20,812,054$6,072,320$4,050,490$15,329,649
79$22,836,271$6,271,252$4,087,569$16,660,212
80$25,063,853$6,476,825$4,122,785$18,121,023
81$27,515,444$6,689,267$4,155,976$19,725,255
82$30,213,792$6,908,814$4,186,975$21,487,427
83$33,183,963$7,135,710$4,215,602$23,423,535
84$36,453,574$7,370,207$4,241,672$25,551,206
85$40,053,059$7,612,567$4,264,988$27,889,862
86$44,015,949$7,863,061$4,285,343$30,460,907
87$48,379,195$8,121,970$4,302,521$33,287,927
88$53,183,511$8,389,585$4,316,293$36,396,909
89$58,473,760$8,666,206$4,326,421$39,816,495
90$64,299,380$8,952,145$4,332,652$43,578,242
91$70,714,843$9,247,727$4,334,722$47,716,927
92$77,780,177$9,553,286$4,332,355$52,270,874
93$85,561,526$9,869,167$4,325,260$57,282,313
94$94,131,777$10,195,732$4,313,132$62,797,783
95$103,571,248$10,533,353$4,295,651$68,868,566
96$113,968,443$10,882,415$4,272,483$75,551,177
97$125,420,888$11,243,317$4,243,276$82,907,892
98$138,036,055$11,616,476$4,207,661$91,007,341
99$151,932,369$12,002,320$4,165,255$99,925,151
100$167,240,331$12,401,294$4,115,651$109,744,665