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%12.8%
1 years$245,260$243,075$240,944$238,863$236,832$234,067
2 years$121,416$119,154$116,963$114,838$112,777$109,994
3 years$80,140$77,869$75,683$73,578$71,550$68,835
4 years$59,506$57,242$55,078$53,009$51,030$48,405
5 years$47,129$44,878$42,743$40,716$38,792$36,264
6 years$38,880$36,646$34,542$32,561$30,695$28,266
7 years$32,990$30,776$28,705$26,770$24,963$22,635
8 years$28,575$26,380$24,344$22,457$20,710$18,482
9 years$25,143$22,969$20,967$19,128$17,440$15,313
10 years$22,399$20,246$18,280$16,489$14,860$12,831
11 years$20,155$18,024$16,093$14,350$12,780$10,848
12 years$18,286$16,177$14,282$12,587$11,075$9,238
13 years$16,707$14,619$12,760$11,112$9,658$7,912
14 years$15,354$13,289$11,465$9,864$8,466$6,810
15 years$14,182$12,139$10,352$8,797$7,454$5,886
16 years$13,158$11,138$9,385$7,877$6,588$5,104
17 years$12,256$10,257$8,540$7,077$5,841$4,439
18 years$11,454$9,478$7,796$6,378$5,194$3,870
19 years$10,738$8,784$7,137$5,763$4,629$3,382
20 years$10,094$8,163$6,550$5,220$4,135$2,960
21 years$9,512$7,603$6,025$4,737$3,700$2,595
22 years$8,984$7,098$5,553$4,307$3,317$2,278
23 years$8,503$6,638$5,127$3,923$2,977$2,002
24 years$8,062$6,220$4,742$3,578$2,676$1,762
25 years$7,657$5,837$4,392$3,267$2,408$1,551
26 years$7,284$5,486$4,073$2,987$2,169$1,367
27 years$6,939$5,163$3,782$2,735$1,956$1,206
28 years$6,619$4,865$3,516$2,505$1,765$1,064
29 years$6,322$4,589$3,272$2,298$1,593$940
30 years$6,046$4,334$3,048$2,109$1,440$830
31 years$5,787$4,097$2,841$1,937$1,302$734
32 years$5,545$3,877$2,651$1,780$1,177$649
33 years$5,319$3,671$2,475$1,637$1,066$574
34 years$5,106$3,480$2,313$1,506$965$507
35 years$4,906$3,300$2,162$1,386$874$449
36 years$4,717$3,132$2,023$1,277$792$397
37 years$4,539$2,975$1,893$1,176$718$352
38 years$4,371$2,827$1,773$1,084$651$311
39 years$4,211$2,689$1,661$1,000$590$276
40 years$4,060$2,558$1,557$922$535$244
41 years$3,917$2,435$1,460$851$485$216
42 years$3,781$2,319$1,369$785$441$192
43 years$3,652$2,210$1,285$725$400$170
44 years$3,529$2,106$1,206$669$363$150
45 years$3,411$2,008$1,133$618$329$133
46 years$3,300$1,916$1,064$571$299$118
47 years$3,193$1,828$999$527$272$105
48 years$3,091$1,745$939$487$247$93
49 years$2,993$1,667$883$450$224$82
50 years$2,900$1,592$830$416$203$73

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 $2,132 every year, while hoping to spend $43,414 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: 32/40/28 Blend
56$2,970,000$2,970,000$2,970,000$2,970,000
57$3,275,139$3,117,729$3,071,694$3,351,896
58$3,563,011$3,224,306$3,128,404$3,517,523
59$3,878,791$3,334,649$3,185,558$3,691,809
60$4,225,280$3,448,899$3,243,126$3,878,685
61$4,605,562$3,567,199$3,301,075$4,079,291
62$5,023,036$3,689,699$3,359,367$4,294,877
63$5,481,445$3,816,553$3,417,966$4,526,817
64$5,984,913$3,947,925$3,476,828$4,776,622
65$6,537,982$4,083,981$3,535,910$5,045,951
66$7,145,656$4,224,896$3,595,163$5,336,627
67$7,813,448$4,370,851$3,654,536$5,650,656
68$8,547,432$4,522,034$3,713,974$5,990,243
69$9,354,297$4,678,642$3,773,420$6,357,813
70$10,241,416$4,840,876$3,832,810$6,756,033
71$11,216,911$5,008,948$3,892,079$7,187,836
72$12,289,728$5,183,079$3,951,156$7,656,449
73$13,469,726$5,363,496$4,009,965$8,165,423
74$14,767,767$5,550,436$4,068,428$8,718,665
75$16,195,818$5,744,147$4,126,460$9,320,474
76$17,767,065$5,944,884$4,183,970$9,975,583
77$19,496,037$6,152,914$4,240,864$10,689,197
78$21,398,740$6,368,514$4,297,041$11,467,051
79$23,492,814$6,591,974$4,352,394$12,315,453
80$25,797,693$6,823,592$4,406,811$13,241,352
81$28,334,790$7,063,681$4,460,172$14,252,394
82$31,127,702$7,312,565$4,512,351$15,357,001
83$34,202,428$7,570,581$4,563,215$16,564,444
84$37,587,617$7,838,080$4,612,624$17,884,932
85$41,314,836$8,115,428$4,660,429$19,329,708
86$45,418,870$8,403,005$4,706,473$20,911,153
87$49,938,047$8,701,205$4,750,593$22,642,902
88$54,914,604$9,010,440$4,792,614$24,539,971
89$60,395,081$9,331,139$4,832,353$26,618,898
90$66,430,760$9,663,746$4,869,618$28,897,900
91$73,078,154$10,008,725$4,904,206$31,397,041
92$80,399,532$10,366,559$4,935,904$34,138,421
93$88,463,514$10,737,750$4,964,486$37,146,384
94$97,345,714$11,122,821$4,989,718$40,447,746
95$107,129,454$11,522,317$5,011,351$44,072,047
96$117,906,552$11,936,804$5,029,125$48,051,827
97$129,778,186$12,366,873$5,042,766$52,422,936
98$142,855,849$12,813,138$5,051,987$57,224,865
99$157,262,402$13,276,239$5,056,486$62,501,121
100$173,133,235$13,756,842$5,055,946$68,299,636