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%18.9%
1 years$243,608$241,438$239,321$237,255$235,237$226,801
2 years$120,598$118,352$116,175$114,065$112,018$103,609
3 years$79,600$77,344$75,173$73,082$71,069$62,953
4 years$59,105$56,856$54,707$52,652$50,687$42,925
5 years$46,811$44,576$42,455$40,442$38,531$31,144
6 years$38,618$36,400$34,310$32,341$30,488$23,482
7 years$32,768$30,568$28,512$26,590$24,795$18,167
8 years$28,383$26,203$24,180$22,305$20,570$14,315
9 years$24,974$22,814$20,826$18,999$17,323$11,433
10 years$22,248$20,110$18,157$16,378$14,760$9,224
11 years$20,019$17,902$15,985$14,253$12,694$7,501
12 years$18,163$16,068$14,186$12,502$11,000$6,138
13 years$16,594$14,521$12,674$11,038$9,593$5,048
14 years$15,250$13,199$11,388$9,798$8,409$4,167
15 years$14,087$12,058$10,282$8,738$7,404$3,452
16 years$13,070$11,063$9,322$7,824$6,544$2,866
17 years$12,173$10,188$8,483$7,030$5,802$2,385
18 years$11,377$9,414$7,744$6,335$5,159$1,989
19 years$10,666$8,725$7,089$5,724$4,598$1,660
20 years$10,026$8,108$6,506$5,185$4,107$1,388
21 years$9,448$7,552$5,984$4,705$3,675$1,161
22 years$8,924$7,050$5,515$4,278$3,295$972
23 years$8,445$6,593$5,092$3,896$2,957$815
24 years$8,008$6,178$4,710$3,554$2,658$683
25 years$7,606$5,797$4,362$3,245$2,392$573
26 years$7,235$5,449$4,046$2,967$2,155$481
27 years$6,892$5,128$3,757$2,716$1,943$404
28 years$6,575$4,832$3,492$2,489$1,753$339
29 years$6,280$4,558$3,250$2,282$1,583$285
30 years$6,005$4,305$3,027$2,094$1,430$239
31 years$5,748$4,070$2,822$1,923$1,293$201
32 years$5,508$3,851$2,633$1,768$1,170$169
33 years$5,283$3,647$2,459$1,626$1,058$142
34 years$5,072$3,456$2,297$1,496$958$119
35 years$4,873$3,278$2,148$1,377$868$100
36 years$4,685$3,111$2,009$1,268$786$84
37 years$4,508$2,955$1,880$1,168$713$71
38 years$4,341$2,808$1,761$1,077$646$60
39 years$4,183$2,671$1,650$993$586$50
40 years$4,033$2,541$1,546$916$531$42
41 years$3,891$2,419$1,450$845$482$35
42 years$3,756$2,303$1,360$780$438$30
43 years$3,627$2,195$1,276$720$397$25
44 years$3,505$2,092$1,198$665$360$21
45 years$3,388$1,995$1,125$614$327$18
46 years$3,277$1,903$1,057$567$297$15
47 years$3,171$1,816$993$524$270$13
48 years$3,070$1,734$933$484$245$11
49 years$2,973$1,656$877$447$223$9
50 years$2,880$1,581$824$414$202$7

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 $4,042 every year, while hoping to spend $56,083 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: 69/14/17 Blend
56$2,950,000$2,950,000$2,950,000$2,950,000
57$3,255,069$3,098,719$3,052,994$3,466,218
58$3,527,415$3,190,885$3,095,598$3,699,619
59$3,825,659$3,285,687$3,137,749$3,947,882
60$4,152,386$3,383,195$3,179,373$4,218,113
61$4,510,439$3,483,481$3,220,392$4,512,470
62$4,902,951$3,586,618$3,260,721$4,833,331
63$5,333,370$3,692,681$3,300,274$5,183,316
64$5,805,498$3,801,746$3,338,957$5,565,308
65$6,323,518$3,913,892$3,376,672$5,982,484
66$6,892,042$4,029,197$3,413,315$6,438,343
67$7,516,145$4,147,743$3,448,776$6,936,739
68$8,201,422$4,269,612$3,482,941$7,481,916
69$8,954,035$4,394,891$3,515,686$8,078,552
70$9,780,770$4,523,664$3,546,885$8,731,797
71$10,689,104$4,656,020$3,576,402$9,447,327
72$11,687,276$4,792,048$3,604,095$10,231,392
73$12,784,360$4,931,839$3,629,814$11,090,882
74$13,990,353$5,075,488$3,653,401$12,033,384
75$15,316,270$5,223,088$3,674,691$13,067,257
76$16,774,246$5,374,736$3,693,509$14,201,715
77$18,377,650$5,530,529$3,709,673$15,446,904
78$20,141,214$5,690,568$3,722,990$16,814,006
79$22,081,166$5,854,954$3,733,259$18,315,342
80$24,215,387$6,023,790$3,740,265$19,964,487
81$26,563,581$6,197,179$3,743,788$21,776,398
82$29,147,454$6,375,229$3,743,593$23,767,555
83$31,990,925$6,558,046$3,739,435$25,956,120
84$35,120,350$6,745,740$3,731,055$28,362,103
85$38,564,765$6,938,421$3,718,186$31,007,553
86$42,356,168$7,136,201$3,700,542$33,916,766
87$46,529,815$7,339,193$3,677,828$37,116,516
88$51,124,554$7,547,511$3,649,732$40,636,303
89$56,183,189$7,761,270$3,615,930$44,508,638
90$61,752,890$7,980,587$3,576,079$48,769,342
91$67,885,629$8,205,580$3,529,821$53,457,890
92$74,638,676$8,436,367$3,476,784$58,617,780
93$82,075,139$8,673,067$3,416,574$64,296,949
94$90,264,555$8,915,799$3,348,781$70,548,216
95$99,283,551$9,164,685$3,272,977$77,429,789
96$109,216,563$9,419,844$3,188,711$85,005,811
97$120,156,635$9,681,398$3,095,515$93,346,967
98$132,206,292$9,949,468$2,992,896$102,531,147
99$145,478,516$10,224,174$2,880,340$112,644,188
100$160,097,803$10,505,637$2,757,310$123,780,677