Can I retire at age 57 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$244,434$242,257$240,132$238,059$236,035$232,507
2 years$121,007$118,753$116,569$114,451$112,397$108,852
3 years$79,870$77,607$75,428$73,330$71,310$67,856
4 years$59,306$57,049$54,892$52,830$50,859$47,523
5 years$46,970$44,727$42,599$40,579$38,662$35,455
6 years$38,749$36,523$34,426$32,451$30,592$27,516
7 years$32,879$30,672$28,608$26,680$24,879$21,937
8 years$28,479$26,292$24,262$22,381$20,640$17,830
9 years$25,058$22,892$20,897$19,064$17,382$14,703
10 years$22,323$20,178$18,218$16,433$14,810$12,260
11 years$20,087$17,963$16,039$14,302$12,737$10,314
12 years$18,225$16,123$14,234$12,545$11,038$8,738
13 years$16,650$14,570$12,717$11,075$9,625$7,445
14 years$15,302$13,244$11,427$9,831$8,437$6,374
15 years$14,135$12,099$10,317$8,768$7,429$5,479
16 years$13,114$11,100$9,354$7,850$6,566$4,725
17 years$12,214$10,223$8,511$7,054$5,822$4,086
18 years$11,416$9,446$7,770$6,357$5,176$3,542
19 years$10,702$8,755$7,113$5,744$4,614$3,077
20 years$10,060$8,135$6,528$5,202$4,121$2,677
21 years$9,480$7,578$6,004$4,721$3,688$2,333
22 years$8,954$7,074$5,534$4,293$3,306$2,036
23 years$8,474$6,616$5,110$3,909$2,967$1,778
24 years$8,035$6,199$4,726$3,566$2,667$1,555
25 years$7,631$5,817$4,377$3,256$2,400$1,361
26 years$7,260$5,467$4,059$2,977$2,162$1,192
27 years$6,916$5,145$3,769$2,725$1,949$1,044
28 years$6,597$4,848$3,504$2,497$1,759$916
29 years$6,301$4,574$3,261$2,290$1,588$803
30 years$6,025$4,319$3,037$2,101$1,435$705
31 years$5,768$4,083$2,832$1,930$1,297$619
32 years$5,527$3,864$2,642$1,774$1,173$544
33 years$5,301$3,659$2,467$1,631$1,062$478
34 years$5,089$3,468$2,305$1,501$962$420
35 years$4,889$3,289$2,155$1,382$871$369
36 years$4,701$3,122$2,016$1,272$789$324
37 years$4,524$2,965$1,887$1,172$715$285
38 years$4,356$2,818$1,767$1,081$648$251
39 years$4,197$2,680$1,655$996$588$220
40 years$4,047$2,549$1,552$919$533$194
41 years$3,904$2,427$1,455$848$484$171
42 years$3,769$2,311$1,365$782$439$150
43 years$3,640$2,202$1,281$722$398$132
44 years$3,517$2,099$1,202$667$362$116
45 years$3,400$2,002$1,129$616$328$102
46 years$3,288$1,909$1,060$569$298$90
47 years$3,182$1,822$996$526$271$79
48 years$3,080$1,740$936$486$246$70
49 years$2,983$1,661$880$449$223$61
50 years$2,890$1,587$827$415$203$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,960,000, adding $5,188 every year, while hoping to spend $52,443 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: 70/23/7 Blend
56$2,960,000$2,960,000$2,960,000$2,960,000
57$3,267,271$3,110,391$3,064,511$3,492,064
58$3,544,734$3,207,002$3,111,374$3,737,997
59$3,848,740$3,306,588$3,158,048$4,000,061
60$4,181,942$3,409,241$3,204,473$4,285,373
61$4,547,261$3,515,054$3,250,583$4,596,204
62$4,947,912$3,624,123$3,296,309$4,935,054
63$5,387,441$3,736,547$3,341,576$5,304,674
64$5,869,749$3,852,426$3,386,308$5,708,095
65$6,399,135$3,971,867$3,430,421$6,148,652
66$6,980,334$4,094,976$3,473,828$6,630,018
67$7,618,564$4,221,865$3,516,436$7,156,237
68$8,319,569$4,352,648$3,558,149$7,731,762
69$9,089,679$4,487,443$3,598,862$8,361,496
70$9,935,869$4,626,370$3,638,466$9,050,841
71$10,865,820$4,769,554$3,676,847$9,805,745
72$11,887,996$4,917,125$3,713,883$10,632,759
73$13,011,720$5,069,212$3,749,447$11,539,097
74$14,247,265$5,225,953$3,783,403$12,532,708
75$15,605,949$5,387,488$3,815,610$13,622,346
76$17,100,241$5,553,960$3,845,918$14,817,653
77$18,743,878$5,725,517$3,874,169$16,129,251
78$20,551,999$5,902,312$3,900,198$17,568,843
79$22,541,279$6,084,501$3,923,831$19,149,318
80$24,730,094$6,272,247$3,944,885$20,884,878
81$27,138,692$6,465,715$3,963,166$22,791,166
82$29,789,379$6,665,075$3,978,473$24,885,418
83$32,706,736$6,870,505$3,990,592$27,186,623
84$35,917,847$7,082,183$3,999,301$29,715,700
85$39,452,555$7,300,298$4,004,365$32,495,699
86$43,343,743$7,525,039$4,005,538$35,552,015
87$47,627,642$7,756,604$4,002,562$38,912,625
88$52,344,179$7,995,195$3,995,165$42,608,359
89$57,537,346$8,241,020$3,983,064$46,673,182
90$63,255,619$8,494,294$3,965,960$51,144,518
91$69,552,414$8,755,236$3,943,541$56,063,605
92$76,486,591$9,024,073$3,915,480$61,475,877
93$84,123,008$9,301,038$3,881,434$67,431,398
94$92,533,136$9,586,370$3,841,043$73,985,333
95$101,795,729$9,880,314$3,793,931$81,198,465
96$111,997,568$10,183,125$3,739,703$89,137,771
97$123,234,284$10,495,062$3,677,946$97,877,052
98$135,611,253$10,816,392$3,608,230$107,497,630
99$149,244,595$11,147,390$3,530,100$118,089,115
100$164,262,270$11,488,338$3,443,084$129,750,248