Can I retire at age 57 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$246,086$243,894$241,755$239,668$237,629$231,885
2 years$121,825$119,556$117,357$115,225$113,157$107,404
3 years$80,410$78,131$75,938$73,826$71,791$66,210
4 years$59,706$57,435$55,263$53,187$51,202$45,835
5 years$47,287$45,029$42,886$40,853$38,923$33,785
6 years$39,011$36,770$34,659$32,670$30,799$25,895
7 years$33,101$30,879$28,801$26,860$25,047$20,379
8 years$28,671$26,469$24,426$22,532$20,779$16,344
9 years$25,228$23,046$21,038$19,193$17,499$13,293
10 years$22,474$20,314$18,341$16,544$14,910$10,929
11 years$20,223$18,084$16,148$14,398$12,823$9,061
12 years$18,348$16,232$14,331$12,629$11,112$7,563
13 years$16,763$14,669$12,803$11,150$9,690$6,347
14 years$15,405$13,333$11,504$9,898$8,494$5,350
15 years$14,230$12,180$10,386$8,827$7,479$4,526
16 years$13,203$11,175$9,417$7,903$6,610$3,840
17 years$12,297$10,292$8,569$7,101$5,861$3,267
18 years$11,493$9,510$7,822$6,400$5,211$2,785
19 years$10,774$8,814$7,161$5,783$4,645$2,378
20 years$10,128$8,190$6,572$5,237$4,149$2,034
21 years$9,544$7,629$6,045$4,753$3,713$1,742
22 years$9,014$7,121$5,571$4,322$3,328$1,493
23 years$8,531$6,661$5,144$3,936$2,987$1,281
24 years$8,089$6,240$4,757$3,590$2,685$1,100
25 years$7,683$5,856$4,406$3,278$2,416$945
26 years$7,309$5,504$4,087$2,998$2,176$813
27 years$6,963$5,180$3,795$2,744$1,962$699
28 years$6,642$4,881$3,528$2,514$1,771$602
29 years$6,344$4,605$3,283$2,305$1,599$518
30 years$6,066$4,349$3,058$2,116$1,445$446
31 years$5,807$4,111$2,851$1,943$1,306$384
32 years$5,564$3,890$2,660$1,786$1,181$331
33 years$5,337$3,684$2,484$1,642$1,069$285
34 years$5,123$3,491$2,320$1,511$968$246
35 years$4,922$3,311$2,169$1,391$877$212
36 years$4,733$3,143$2,029$1,281$794$183
37 years$4,554$2,985$1,900$1,180$720$158
38 years$4,385$2,837$1,779$1,088$653$136
39 years$4,226$2,698$1,667$1,003$592$117
40 years$4,074$2,567$1,562$925$537$101
41 years$3,930$2,443$1,465$854$487$87
42 years$3,794$2,327$1,374$788$442$75
43 years$3,664$2,217$1,289$727$401$65
44 years$3,541$2,113$1,210$671$364$56
45 years$3,423$2,015$1,136$620$331$48
46 years$3,311$1,922$1,067$573$300$42
47 years$3,204$1,835$1,003$529$273$36
48 years$3,101$1,751$942$489$247$31
49 years$3,003$1,672$886$452$225$27
50 years$2,910$1,598$833$418$204$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,980,000, adding $2,864 every year, while hoping to spend $46,667 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: 50/21/29 Blend
56$2,980,000$2,980,000$2,980,000$2,980,000
57$3,286,914$3,128,974$3,082,784$3,424,118
58$3,572,526$3,232,641$3,136,404$3,624,133
59$3,885,706$3,339,823$3,190,256$3,836,558
60$4,229,218$3,450,643$3,244,299$4,066,557
61$4,606,103$3,565,230$3,298,488$4,315,823
62$5,019,714$3,683,715$3,352,776$4,586,216
63$5,473,743$3,806,234$3,407,112$4,879,787
64$5,972,256$3,932,931$3,461,442$5,198,791
65$6,519,733$4,063,952$3,515,707$5,545,712
66$7,121,110$4,199,450$3,569,848$5,923,284
67$7,781,823$4,339,583$3,623,797$6,334,518
68$8,507,861$4,484,514$3,677,486$6,782,730
69$9,305,822$4,634,414$3,730,841$7,271,571
70$10,182,975$4,789,460$3,783,783$7,805,061
71$11,147,328$4,949,833$3,836,230$8,387,628
72$12,207,704$5,115,724$3,888,092$9,024,150
73$13,373,825$5,287,329$3,939,278$9,719,998
74$14,656,399$5,464,852$3,989,688$10,481,088
75$16,067,226$5,648,505$4,039,217$11,313,938
76$17,619,308$5,838,506$4,087,756$12,225,727
77$19,326,970$6,035,085$4,135,188$13,224,362
78$21,205,993$6,238,476$4,181,389$14,318,556
79$23,273,768$6,448,925$4,226,229$15,517,906
80$25,549,456$6,666,686$4,269,571$16,832,984
81$28,054,169$6,892,023$4,311,271$18,275,439
82$30,811,172$7,125,210$4,351,176$19,858,103
83$33,846,097$7,366,530$4,389,126$21,595,115
84$37,187,188$7,616,279$4,424,950$23,502,051
85$40,865,566$7,874,763$4,458,472$25,596,075
86$44,915,526$8,142,298$4,489,503$27,896,095
87$49,374,855$8,419,216$4,517,846$30,422,947
88$54,285,190$8,705,857$4,543,294$33,199,586
89$59,692,414$9,002,579$4,565,629$36,251,307
90$65,647,083$9,309,748$4,584,621$39,605,979
91$72,204,910$9,627,750$4,600,029$43,294,311
92$79,427,282$9,956,981$4,611,602$47,350,142
93$87,381,846$10,297,855$4,619,072$51,810,756
94$96,143,145$10,650,800$4,622,162$56,717,237
95$105,793,320$11,016,263$4,620,578$62,114,855
96$116,422,885$11,394,706$4,614,013$68,053,495
97$128,131,582$11,786,610$4,602,146$74,588,124
98$141,029,325$12,192,475$4,584,639$81,779,313
99$155,237,229$12,612,819$4,561,137$89,693,806
100$170,888,761$13,048,182$4,531,270$98,405,151