Can I retire at age 57 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$246,911$244,712$242,566$240,472$238,427$228,877
2 years$122,233$119,957$117,751$115,611$113,537$104,035
3 years$80,679$78,393$76,192$74,073$72,032$62,878
4 years$59,907$57,627$55,449$53,366$51,374$42,637
5 years$47,446$45,180$43,030$40,990$39,054$30,756
6 years$39,142$36,893$34,775$32,780$30,902$23,049
7 years$33,213$30,983$28,898$26,950$25,131$17,721
8 years$28,768$26,558$24,508$22,608$20,849$13,872
9 years$25,312$23,124$21,109$19,257$17,558$11,004
10 years$22,550$20,382$18,403$16,600$14,960$8,817
11 years$20,291$18,145$16,202$14,447$12,866$7,119
12 years$18,410$16,286$14,379$12,672$11,150$5,783
13 years$16,819$14,718$12,846$11,187$9,723$4,719
14 years$15,457$13,378$11,542$9,931$8,523$3,866
15 years$14,278$12,221$10,421$8,856$7,504$3,177
16 years$13,247$11,213$9,448$7,930$6,632$2,617
17 years$12,338$10,326$8,598$7,125$5,881$2,161
18 years$11,531$9,542$7,849$6,421$5,229$1,786
19 years$10,810$8,844$7,185$5,802$4,660$1,479
20 years$10,162$8,218$6,594$5,255$4,163$1,226
21 years$9,576$7,655$6,065$4,769$3,725$1,017
22 years$9,045$7,145$5,590$4,336$3,339$844
23 years$8,560$6,683$5,161$3,949$2,997$702
24 years$8,116$6,261$4,773$3,602$2,694$583
25 years$7,709$5,876$4,421$3,289$2,424$485
26 years$7,333$5,523$4,100$3,008$2,184$403
27 years$6,986$5,197$3,808$2,753$1,969$336
28 years$6,664$4,897$3,540$2,522$1,777$279
29 years$6,365$4,620$3,294$2,313$1,604$233
30 years$6,086$4,363$3,068$2,123$1,449$194
31 years$5,826$4,125$2,860$1,950$1,310$161
32 years$5,583$3,903$2,669$1,792$1,185$134
33 years$5,355$3,696$2,492$1,648$1,073$112
34 years$5,140$3,503$2,328$1,516$971$93
35 years$4,939$3,323$2,177$1,396$880$78
36 years$4,749$3,154$2,036$1,285$797$65
37 years$4,570$2,995$1,906$1,184$722$54
38 years$4,400$2,846$1,785$1,091$655$45
39 years$4,240$2,707$1,672$1,006$594$37
40 years$4,088$2,575$1,567$928$539$31
41 years$3,944$2,451$1,470$856$489$26
42 years$3,807$2,335$1,379$790$443$22
43 years$3,676$2,224$1,294$730$402$18
44 years$3,553$2,120$1,214$674$365$15
45 years$3,434$2,022$1,140$622$332$13
46 years$3,322$1,929$1,071$575$301$10
47 years$3,214$1,841$1,006$531$273$9
48 years$3,112$1,757$945$491$248$7
49 years$3,013$1,678$889$453$226$6
50 years$2,919$1,603$835$419$205$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,990,000, adding $6,338 every year, while hoping to spend $36,066 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: 40/40/20 Blend
56$2,990,000$2,990,000$2,990,000$2,990,000
57$3,301,518$3,143,048$3,096,703$3,413,782
58$3,599,899$3,258,683$3,162,068$3,610,353
59$3,927,505$3,378,776$3,228,415$3,818,948
60$4,287,281$3,503,506$3,295,737$4,043,873
61$4,682,468$3,633,062$3,364,029$4,286,636
62$5,116,638$3,767,640$3,433,281$4,548,890
63$5,593,724$3,907,444$3,503,485$4,832,454
64$6,118,062$4,052,686$3,574,630$5,139,326
65$6,694,426$4,203,589$3,646,702$5,471,701
66$7,328,077$4,360,385$3,719,686$5,831,993
67$8,024,811$4,523,314$3,793,566$6,222,854
68$8,791,015$4,692,629$3,868,323$6,647,200
69$9,633,722$4,868,593$3,943,936$7,108,240
70$10,560,686$5,051,478$4,020,382$7,609,499
71$11,580,447$5,241,571$4,097,635$8,154,859
72$12,702,413$5,439,169$4,175,667$8,748,584
73$13,936,955$5,644,583$4,254,447$9,395,371
74$15,295,495$5,858,138$4,333,942$10,100,384
75$16,790,620$6,080,172$4,414,114$10,869,305
76$18,436,200$6,311,038$4,494,924$11,708,389
77$20,247,517$6,551,103$4,576,328$12,624,517
78$22,241,410$6,800,753$4,658,281$13,625,264
79$24,436,431$7,060,387$4,740,731$14,718,965
80$26,853,027$7,330,426$4,823,625$15,914,798
81$29,513,723$7,611,305$4,906,904$17,222,865
82$32,443,344$7,903,480$4,990,507$18,654,284
83$35,669,242$8,207,427$5,074,365$20,221,300
84$39,221,557$8,523,642$5,158,408$21,937,393
85$43,133,500$8,852,645$5,242,560$23,817,403
86$47,441,669$9,194,977$5,326,737$25,877,673
87$52,186,390$9,551,202$5,410,854$28,136,198
88$57,412,102$9,921,911$5,494,818$30,612,796
89$63,167,771$10,307,719$5,578,529$33,329,289
90$69,507,357$10,709,271$5,661,883$36,309,711
91$76,490,320$11,127,237$5,744,768$39,580,531
92$84,182,181$11,562,321$5,827,067$43,170,901
93$92,655,142$12,015,253$5,908,652$47,112,929
94$101,988,766$12,486,800$5,989,392$51,441,981
95$112,270,728$12,977,761$6,069,144$56,197,010
96$123,597,642$13,488,971$6,147,760$61,420,923
97$136,075,974$14,021,303$6,225,082$67,160,983
98$149,823,043$14,575,666$6,300,942$73,469,254
99$164,968,134$15,153,014$6,375,164$80,403,088
100$181,653,713$15,754,342$6,447,562$88,025,662