Can I retire at age 57 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$245,260$243,075$240,944$238,863$236,832$235,241
2 years$121,416$119,154$116,963$114,838$112,777$111,172
3 years$80,140$77,869$75,683$73,578$71,550$69,982
4 years$59,506$57,242$55,078$53,009$51,030$49,510
5 years$47,129$44,878$42,743$40,716$38,792$37,325
6 years$38,880$36,646$34,542$32,561$30,695$29,282
7 years$32,990$30,776$28,705$26,770$24,963$23,605
8 years$28,575$26,380$24,344$22,457$20,710$19,407
9 years$25,143$22,969$20,967$19,128$17,440$16,193
10 years$22,399$20,246$18,280$16,489$14,860$13,667
11 years$20,155$18,024$16,093$14,350$12,780$11,640
12 years$18,286$16,177$14,282$12,587$11,075$9,987
13 years$16,707$14,619$12,760$11,112$9,658$8,621
14 years$15,354$13,289$11,465$9,864$8,466$7,480
15 years$14,182$12,139$10,352$8,797$7,454$6,516
16 years$13,158$11,138$9,385$7,877$6,588$5,698
17 years$12,256$10,257$8,540$7,077$5,841$4,997
18 years$11,454$9,478$7,796$6,378$5,194$4,394
19 years$10,738$8,784$7,137$5,763$4,629$3,872
20 years$10,094$8,163$6,550$5,220$4,135$3,419
21 years$9,512$7,603$6,025$4,737$3,700$3,025
22 years$8,984$7,098$5,553$4,307$3,317$2,679
23 years$8,503$6,638$5,127$3,923$2,977$2,377
24 years$8,062$6,220$4,742$3,578$2,676$2,110
25 years$7,657$5,837$4,392$3,267$2,408$1,876
26 years$7,284$5,486$4,073$2,987$2,169$1,669
27 years$6,939$5,163$3,782$2,735$1,956$1,486
28 years$6,619$4,865$3,516$2,505$1,765$1,324
29 years$6,322$4,589$3,272$2,298$1,593$1,181
30 years$6,046$4,334$3,048$2,109$1,440$1,053
31 years$5,787$4,097$2,841$1,937$1,302$940
32 years$5,545$3,877$2,651$1,780$1,177$839
33 years$5,319$3,671$2,475$1,637$1,066$750
34 years$5,106$3,480$2,313$1,506$965$670
35 years$4,906$3,300$2,162$1,386$874$599
36 years$4,717$3,132$2,023$1,277$792$535
37 years$4,539$2,975$1,893$1,176$718$479
38 years$4,371$2,827$1,773$1,084$651$428
39 years$4,211$2,689$1,661$1,000$590$383
40 years$4,060$2,558$1,557$922$535$343
41 years$3,917$2,435$1,460$851$485$307
42 years$3,781$2,319$1,369$785$441$274
43 years$3,652$2,210$1,285$725$400$246
44 years$3,529$2,106$1,206$669$363$220
45 years$3,411$2,008$1,133$618$329$197
46 years$3,300$1,916$1,064$571$299$176
47 years$3,193$1,828$999$527$272$158
48 years$3,091$1,745$939$487$247$141
49 years$2,993$1,667$883$450$224$127
50 years$2,900$1,592$830$416$203$113

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,970,000, adding $5,484 every year, while hoping to spend $53,819 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: 34/45/21 Blend
56$2,970,000$2,970,000$2,970,000$2,970,000
57$3,278,597$3,121,187$3,075,152$3,368,836
58$3,555,751$3,216,862$3,120,906$3,531,786
59$3,859,370$3,315,421$3,166,390$3,702,057
60$4,192,099$3,416,950$3,211,537$3,884,568
61$4,556,846$3,521,534$3,256,276$4,080,432
62$4,956,818$3,629,262$3,300,535$4,290,879
63$5,395,545$3,740,228$3,344,235$4,517,258
64$5,876,916$3,854,525$3,387,292$4,761,051
65$6,405,215$3,972,249$3,429,619$5,023,890
66$6,985,158$4,093,501$3,471,123$5,307,571
67$7,621,944$4,218,382$3,511,705$5,614,067
68$8,321,297$4,346,998$3,551,263$5,945,551
69$9,089,525$4,479,456$3,589,686$6,304,414
70$9,933,575$4,615,868$3,626,858$6,693,285
71$10,861,101$4,756,347$3,662,660$7,115,061
72$11,880,535$4,901,010$3,696,960$7,572,927
73$13,001,167$5,049,976$3,729,626$8,070,392
74$14,233,231$5,203,370$3,760,513$8,611,318
75$15,588,003$5,361,318$3,789,473$9,199,958
76$17,077,906$5,523,948$3,816,346$9,840,992
77$18,716,626$5,691,396$3,840,968$10,539,576
78$20,519,244$5,863,797$3,863,163$11,301,387
79$22,502,375$6,041,291$3,882,747$12,132,677
80$24,684,326$6,224,023$3,899,527$13,040,331
81$27,085,267$6,412,140$3,913,301$14,031,933
82$29,727,423$6,605,793$3,923,856$15,115,836
83$32,635,282$6,805,139$3,930,967$16,301,239
84$35,835,826$7,010,336$3,934,399$17,598,277
85$39,358,785$7,221,547$3,933,907$19,018,112
86$43,236,919$7,438,941$3,929,230$20,573,043
87$47,506,324$7,662,688$3,920,098$22,276,616
88$52,206,774$7,892,965$3,906,227$24,143,755
89$57,382,097$8,129,952$3,887,317$26,190,902
90$63,080,585$8,373,833$3,863,056$28,436,171
91$69,355,452$8,624,798$3,833,116$30,899,518
92$76,265,336$8,883,041$3,797,153$33,602,932
93$83,874,851$9,148,761$3,754,808$36,570,638
94$92,255,195$9,422,159$3,705,704$39,829,326
95$101,484,825$9,703,446$3,649,445$43,408,406
96$111,650,195$9,992,832$3,585,619$47,340,282
97$122,846,571$10,290,537$3,513,794$51,660,657
98$135,178,931$10,596,783$3,433,516$56,408,871
99$148,762,955$10,911,799$3,344,312$61,628,274
100$163,726,117$11,235,817$3,245,686$67,366,629