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%16.4%
1 years$246,086$243,894$241,755$239,668$237,629$231,415
2 years$121,825$119,556$117,357$115,225$113,157$106,939
3 years$80,410$78,131$75,938$73,826$71,791$65,764
4 years$59,706$57,435$55,263$53,187$51,202$45,411
5 years$47,287$45,029$42,886$40,853$38,923$33,385
6 years$39,011$36,770$34,659$32,670$30,799$25,518
7 years$33,101$30,879$28,801$26,860$25,047$20,026
8 years$28,671$26,469$24,426$22,532$20,779$16,014
9 years$25,228$23,046$21,038$19,193$17,499$12,986
10 years$22,474$20,314$18,341$16,544$14,910$10,643
11 years$20,223$18,084$16,148$14,398$12,823$8,796
12 years$18,348$16,232$14,331$12,629$11,112$7,318
13 years$16,763$14,669$12,803$11,150$9,690$6,120
14 years$15,405$13,333$11,504$9,898$8,494$5,141
15 years$14,230$12,180$10,386$8,827$7,479$4,334
16 years$13,203$11,175$9,417$7,903$6,610$3,665
17 years$12,297$10,292$8,569$7,101$5,861$3,106
18 years$11,493$9,510$7,822$6,400$5,211$2,638
19 years$10,774$8,814$7,161$5,783$4,645$2,244
20 years$10,128$8,190$6,572$5,237$4,149$1,912
21 years$9,544$7,629$6,045$4,753$3,713$1,631
22 years$9,014$7,121$5,571$4,322$3,328$1,393
23 years$8,531$6,661$5,144$3,936$2,987$1,191
24 years$8,089$6,240$4,757$3,590$2,685$1,018
25 years$7,683$5,856$4,406$3,278$2,416$872
26 years$7,309$5,504$4,087$2,998$2,176$746
27 years$6,963$5,180$3,795$2,744$1,962$639
28 years$6,642$4,881$3,528$2,514$1,771$548
29 years$6,344$4,605$3,283$2,305$1,599$470
30 years$6,066$4,349$3,058$2,116$1,445$403
31 years$5,807$4,111$2,851$1,943$1,306$346
32 years$5,564$3,890$2,660$1,786$1,181$297
33 years$5,337$3,684$2,484$1,642$1,069$255
34 years$5,123$3,491$2,320$1,511$968$218
35 years$4,922$3,311$2,169$1,391$877$188
36 years$4,733$3,143$2,029$1,281$794$161
37 years$4,554$2,985$1,900$1,180$720$138
38 years$4,385$2,837$1,779$1,088$653$119
39 years$4,226$2,698$1,667$1,003$592$102
40 years$4,074$2,567$1,562$925$537$88
41 years$3,930$2,443$1,465$854$487$75
42 years$3,794$2,327$1,374$788$442$65
43 years$3,664$2,217$1,289$727$401$55
44 years$3,541$2,113$1,210$671$364$48
45 years$3,423$2,015$1,136$620$331$41
46 years$3,311$1,922$1,067$573$300$35
47 years$3,204$1,835$1,003$529$273$30
48 years$3,101$1,751$942$489$247$26
49 years$3,003$1,672$886$452$225$22
50 years$2,910$1,598$833$418$204$19

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 $6,393 every year, while hoping to spend $21,469 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: 37/38/25 Blend
56$2,980,000$2,980,000$2,980,000$2,980,000
57$3,290,554$3,132,614$3,086,424$3,387,441
58$3,603,348$3,263,270$3,166,977$3,589,780
59$3,947,327$3,399,607$3,249,508$3,805,752
60$4,325,650$3,541,884$3,334,062$4,038,618
61$4,741,796$3,690,366$3,420,683$4,289,915
62$5,199,599$3,845,334$3,509,416$4,561,331
63$5,703,284$4,007,081$3,600,307$4,854,715
64$6,257,504$4,175,913$3,693,402$5,172,101
65$6,867,388$4,352,151$3,788,750$5,515,719
66$7,538,586$4,536,131$3,886,397$5,888,019
67$8,277,324$4,728,204$3,986,394$6,291,692
68$9,090,462$4,928,737$4,088,789$6,729,696
69$9,985,560$5,138,115$4,193,634$7,205,277
70$10,970,944$5,356,740$4,300,978$7,722,007
71$12,055,795$5,585,034$4,410,875$8,283,809
72$13,250,223$5,823,438$4,523,376$8,894,995
73$14,565,372$6,072,413$4,638,535$9,560,306
74$16,013,520$6,332,441$4,756,407$10,284,956
75$17,608,197$6,604,029$4,877,045$11,074,676
76$19,364,313$6,887,706$5,000,505$11,935,772
77$21,298,295$7,184,026$5,126,844$12,875,177
78$23,428,246$7,493,568$5,256,118$13,900,518
79$25,774,114$7,816,940$5,388,385$15,020,186
80$28,357,880$8,154,776$5,523,703$16,243,411
81$31,203,767$8,507,744$5,662,130$17,580,351
82$34,338,466$8,876,538$5,803,726$19,042,182
83$37,791,390$9,261,888$5,948,551$20,641,203
84$41,594,949$9,664,559$6,096,665$22,390,949
85$45,784,860$10,085,348$6,248,130$24,306,317
86$50,400,480$10,525,094$6,403,006$26,403,705
87$55,485,177$10,984,672$6,561,355$28,701,161
88$61,086,746$11,465,001$6,723,241$31,218,555
89$67,257,849$11,967,042$6,888,725$33,977,760
90$74,056,524$12,491,801$7,057,871$37,002,856
91$81,546,722$13,040,332$7,230,742$40,320,355
92$89,798,917$13,613,738$7,407,402$43,959,451
93$98,890,772$14,213,176$7,587,915$47,952,285
94$108,907,865$14,839,856$7,772,344$52,334,252
95$119,944,503$15,495,045$7,960,755$57,144,325
96$132,104,612$16,180,072$8,153,210$62,425,426
97$145,502,714$16,896,327$8,349,774$68,224,820
98$160,265,011$17,645,267$8,550,511$74,594,563
99$176,530,574$18,428,417$8,755,484$81,591,984
100$194,452,658$19,247,374$8,964,758$89,280,224