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

Use the below retirement simulation to view the chances of a successful retirement.
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%17.5%
1 years$243,608$241,438$239,321$237,255$235,237$228,072
2 years$120,598$118,352$116,175$114,065$112,018$104,861
3 years$79,600$77,344$75,173$73,082$71,069$64,144
4 years$59,105$56,856$54,707$52,652$50,687$44,048
5 years$46,811$44,576$42,455$40,442$38,531$32,196
6 years$38,618$36,400$34,310$32,341$30,488$24,462
7 years$32,768$30,568$28,512$26,590$24,795$19,077
8 years$28,383$26,203$24,180$22,305$20,570$15,157
9 years$24,974$22,814$20,826$18,999$17,323$12,209
10 years$22,248$20,110$18,157$16,378$14,760$9,938
11 years$20,019$17,902$15,985$14,253$12,694$8,155
12 years$18,163$16,068$14,186$12,502$11,000$6,736
13 years$16,594$14,521$12,674$11,038$9,593$5,592
14 years$15,250$13,199$11,388$9,798$8,409$4,662
15 years$14,087$12,058$10,282$8,738$7,404$3,900
16 years$13,070$11,063$9,322$7,824$6,544$3,271
17 years$12,173$10,188$8,483$7,030$5,802$2,750
18 years$11,377$9,414$7,744$6,335$5,159$2,317
19 years$10,666$8,725$7,089$5,724$4,598$1,955
20 years$10,026$8,108$6,506$5,185$4,107$1,652
21 years$9,448$7,552$5,984$4,705$3,675$1,397
22 years$8,924$7,050$5,515$4,278$3,295$1,183
23 years$8,445$6,593$5,092$3,896$2,957$1,002
24 years$8,008$6,178$4,710$3,554$2,658$850
25 years$7,606$5,797$4,362$3,245$2,392$721
26 years$7,235$5,449$4,046$2,967$2,155$612
27 years$6,892$5,128$3,757$2,716$1,943$520
28 years$6,575$4,832$3,492$2,489$1,753$441
29 years$6,280$4,558$3,250$2,282$1,583$375
30 years$6,005$4,305$3,027$2,094$1,430$319
31 years$5,748$4,070$2,822$1,923$1,293$271
32 years$5,508$3,851$2,633$1,768$1,170$230
33 years$5,283$3,647$2,459$1,626$1,058$196
34 years$5,072$3,456$2,297$1,496$958$167
35 years$4,873$3,278$2,148$1,377$868$142
36 years$4,685$3,111$2,009$1,268$786$121
37 years$4,508$2,955$1,880$1,168$713$103
38 years$4,341$2,808$1,761$1,077$646$87
39 years$4,183$2,671$1,650$993$586$74
40 years$4,033$2,541$1,546$916$531$63
41 years$3,891$2,419$1,450$845$482$54
42 years$3,756$2,303$1,360$780$438$46
43 years$3,627$2,195$1,276$720$397$39
44 years$3,505$2,092$1,198$665$360$33
45 years$3,388$1,995$1,125$614$327$28
46 years$3,277$1,903$1,057$567$297$24
47 years$3,171$1,816$993$524$270$20
48 years$3,070$1,734$933$484$245$17
49 years$2,973$1,656$877$447$223$15
50 years$2,880$1,581$824$414$202$13

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 $2,272 every year, while hoping to spend $49,283 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: 71/24/5 Blend
56$2,950,000$2,950,000$2,950,000$2,950,000
57$3,253,244$3,096,894$3,051,169$3,482,545
58$3,532,638$3,196,205$3,100,946$3,733,426
59$3,838,878$3,298,730$3,150,739$4,001,562
60$4,174,652$3,404,576$3,200,497$4,293,643
61$4,542,916$3,513,850$3,250,164$4,612,009
62$4,946,931$3,626,666$3,299,682$4,959,235
63$5,390,286$3,743,140$3,348,988$5,338,156
64$5,876,934$3,863,393$3,398,018$5,751,893
65$6,411,230$3,987,548$3,446,701$6,203,881
66$6,997,972$4,115,735$3,494,962$6,697,903
67$7,642,445$4,248,086$3,542,724$7,238,122
68$8,350,471$4,384,739$3,589,901$7,829,125
69$9,128,463$4,525,835$3,636,407$8,475,960
70$9,983,487$4,671,522$3,682,147$9,184,189
71$10,923,327$4,821,950$3,727,023$9,959,935
72$11,956,559$4,977,278$3,770,931$10,809,943
73$13,092,630$5,137,667$3,813,759$11,741,640
74$14,341,951$5,303,285$3,855,393$12,763,206
75$15,715,989$5,474,305$3,895,707$13,883,653
76$17,227,380$5,650,907$3,934,574$15,112,906
77$18,890,047$5,833,275$3,971,857$16,461,897
78$20,719,329$6,021,602$4,007,410$17,942,670
79$22,732,125$6,216,086$4,041,084$19,568,489
80$24,947,059$6,416,931$4,072,717$21,353,969
81$27,384,648$6,624,350$4,102,142$23,315,208
82$30,067,500$6,838,562$4,129,182$25,469,942
83$33,020,527$7,059,792$4,153,651$27,837,709
84$36,271,175$7,288,277$4,175,353$30,440,034
85$39,849,690$7,524,258$4,194,083$33,300,632
86$43,789,398$7,767,985$4,209,623$36,445,629
87$48,127,019$8,019,719$4,221,749$39,903,812
88$52,903,018$8,279,728$4,230,220$43,706,895
89$58,161,980$8,548,289$4,234,787$47,889,821
90$63,953,036$8,825,690$4,235,186$52,491,089
91$70,330,324$9,112,227$4,231,143$57,553,119
92$77,353,499$9,408,208$4,222,368$63,122,648
93$85,088,296$9,713,950$4,208,558$69,251,176
94$93,607,152$10,029,783$4,189,394$75,995,443
95$102,989,886$10,356,048$4,164,544$83,417,971
96$113,324,456$10,693,095$4,133,657$91,587,651
97$124,707,784$11,041,290$4,096,368$100,580,390
98$137,246,675$11,401,011$4,052,294$110,479,830
99$151,058,822$11,772,646$4,001,032$121,378,134
100$166,273,917$12,156,601$3,942,161$133,376,857