Can I retire at age 57 with 296,000?

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 $296,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$24,443$24,226$24,013$23,806$23,603$23,232
2 years$12,101$11,875$11,657$11,445$11,240$10,866
3 years$7,987$7,761$7,543$7,333$7,131$6,767
4 years$5,931$5,705$5,489$5,283$5,086$4,735
5 years$4,697$4,473$4,260$4,058$3,866$3,529
6 years$3,875$3,652$3,443$3,245$3,059$2,736
7 years$3,288$3,067$2,861$2,668$2,488$2,178
8 years$2,848$2,629$2,426$2,238$2,064$1,769
9 years$2,506$2,289$2,090$1,906$1,738$1,457
10 years$2,232$2,018$1,822$1,643$1,481$1,213
11 years$2,009$1,796$1,604$1,430$1,274$1,019
12 years$1,822$1,612$1,423$1,254$1,104$862
13 years$1,665$1,457$1,272$1,107$963$734
14 years$1,530$1,324$1,143$983$844$627
15 years$1,413$1,210$1,032$877$743$539
16 years$1,311$1,110$935$785$657$464
17 years$1,221$1,022$851$705$582$401
18 years$1,142$945$777$636$518$347
19 years$1,070$875$711$574$461$301
20 years$1,006$814$653$520$412$261
21 years$948$758$600$472$369$227
22 years$895$707$553$429$331$198
23 years$847$662$511$391$297$173
24 years$803$620$473$357$267$151
25 years$763$582$438$326$240$132
26 years$726$547$406$298$216$115
27 years$692$515$377$273$195$101
28 years$660$485$350$250$176$88
29 years$630$457$326$229$159$77
30 years$603$432$304$210$143$68
31 years$577$408$283$193$130$59
32 years$553$386$264$177$117$52
33 years$530$366$247$163$106$46
34 years$509$347$230$150$96$40
35 years$489$329$215$138$87$35
36 years$470$312$202$127$79$31
37 years$452$297$189$117$72$27
38 years$436$282$177$108$65$24
39 years$420$268$166$100$59$21
40 years$405$255$155$92$53$18
41 years$390$243$145$85$48$16
42 years$377$231$136$78$44$14
43 years$364$220$128$72$40$12
44 years$352$210$120$67$36$11
45 years$340$200$113$62$33$10
46 years$329$191$106$57$30$8
47 years$318$182$100$53$27$7
48 years$308$174$94$49$25$6
49 years$298$166$88$45$22$6
50 years$289$159$83$41$20$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $296,000, adding $4,859 every year, while hoping to spend $22,183 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: 45/46/9 Blend
56$296,000$296,000$296,000$296,000
57$331,204$315,516$310,928$345,056
58$341,384$307,374$297,742$346,994
59$351,860$298,089$283,370$346,424
60$362,636$287,583$267,750$345,301
61$373,721$275,770$250,816$343,579
62$385,121$262,563$232,498$341,214
63$396,841$247,867$212,725$338,155
64$408,889$231,583$191,421$334,353
65$421,271$213,605$168,509$329,750
66$433,991$193,822$143,905$324,290
67$447,057$172,118$117,523$317,910
68$460,471$148,366$89,276$310,544
69$474,241$122,438$59,068$302,124
70$488,369$94,193$26,802$292,574
71$502,860$63,485$0$281,817
72$517,716$30,160$0$270,503
73$532,939$0$0$260,605
74$548,531$0$0$252,474
75$564,493$0$0$259,774
76$580,823$0$0$267,237
77$597,520$0$0$274,862
78$614,579$0$0$282,646
79$631,996$0$0$290,586
80$649,763$0$0$298,678
81$667,872$0$0$306,917
82$686,310$0$0$315,295
83$705,064$0$0$323,807
84$724,117$0$0$332,441
85$743,448$0$0$341,188
86$763,033$0$0$350,034
87$782,844$0$0$358,965
88$802,848$0$0$367,964
89$823,007$0$0$377,011
90$843,278$0$0$386,083
91$863,611$0$0$395,155
92$883,949$0$0$404,197
93$904,227$0$0$413,177
94$924,372$0$0$422,058
95$944,301$0$0$430,796
96$963,921$0$0$439,344
97$983,126$0$0$447,650
98$1,001,798$0$0$455,653
99$1,019,803$0$0$463,286
100$1,036,994$0$0$470,475