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%16.7%
1 years$246,911$244,712$242,566$240,472$238,427$231,911
2 years$122,233$119,957$117,751$115,611$113,537$107,019
3 years$80,679$78,393$76,192$74,073$72,032$65,718
4 years$59,907$57,627$55,449$53,366$51,374$45,311
5 years$47,446$45,180$43,030$40,990$39,054$33,259
6 years$39,142$36,893$34,775$32,780$30,902$25,380
7 years$33,213$30,983$28,898$26,950$25,131$19,884
8 years$28,768$26,558$24,508$22,608$20,849$15,872
9 years$25,312$23,124$21,109$19,257$17,558$12,847
10 years$22,550$20,382$18,403$16,600$14,960$10,510
11 years$20,291$18,145$16,202$14,447$12,866$8,669
12 years$18,410$16,286$14,379$12,672$11,150$7,198
13 years$16,819$14,718$12,846$11,187$9,723$6,008
14 years$15,457$13,378$11,542$9,931$8,523$5,037
15 years$14,278$12,221$10,421$8,856$7,504$4,237
16 years$13,247$11,213$9,448$7,930$6,632$3,575
17 years$12,338$10,326$8,598$7,125$5,881$3,023
18 years$11,531$9,542$7,849$6,421$5,229$2,562
19 years$10,810$8,844$7,185$5,802$4,660$2,175
20 years$10,162$8,218$6,594$5,255$4,163$1,849
21 years$9,576$7,655$6,065$4,769$3,725$1,573
22 years$9,045$7,145$5,590$4,336$3,339$1,340
23 years$8,560$6,683$5,161$3,949$2,997$1,143
24 years$8,116$6,261$4,773$3,602$2,694$975
25 years$7,709$5,876$4,421$3,289$2,424$833
26 years$7,333$5,523$4,100$3,008$2,184$711
27 years$6,986$5,197$3,808$2,753$1,969$608
28 years$6,664$4,897$3,540$2,522$1,777$520
29 years$6,365$4,620$3,294$2,313$1,604$445
30 years$6,086$4,363$3,068$2,123$1,449$380
31 years$5,826$4,125$2,860$1,950$1,310$325
32 years$5,583$3,903$2,669$1,792$1,185$279
33 years$5,355$3,696$2,492$1,648$1,073$238
34 years$5,140$3,503$2,328$1,516$971$204
35 years$4,939$3,323$2,177$1,396$880$175
36 years$4,749$3,154$2,036$1,285$797$150
37 years$4,570$2,995$1,906$1,184$722$128
38 years$4,400$2,846$1,785$1,091$655$110
39 years$4,240$2,707$1,672$1,006$594$94
40 years$4,088$2,575$1,567$928$539$81
41 years$3,944$2,451$1,470$856$489$69
42 years$3,807$2,335$1,379$790$443$59
43 years$3,676$2,224$1,294$730$402$51
44 years$3,553$2,120$1,214$674$365$43
45 years$3,434$2,022$1,140$622$332$37
46 years$3,322$1,929$1,071$575$301$32
47 years$3,214$1,841$1,006$531$273$27
48 years$3,112$1,757$945$491$248$23
49 years$3,013$1,678$889$453$226$20
50 years$2,919$1,603$835$419$205$17

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 $4,837 every year, while hoping to spend $25,315 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: 47/31/22 Blend
56$2,990,000$2,990,000$2,990,000$2,990,000
57$3,299,969$3,141,499$3,095,154$3,434,164
58$3,609,631$3,268,498$3,171,907$3,655,551
59$3,950,030$3,400,871$3,250,383$3,892,806
60$4,324,275$3,538,855$3,330,612$4,149,817
61$4,735,789$3,682,697$3,412,626$4,428,444
62$5,188,347$3,832,657$3,496,456$4,730,733
63$5,686,106$3,989,004$3,582,135$5,058,933
64$6,233,645$4,152,022$3,669,692$5,415,515
65$6,836,011$4,322,005$3,759,161$5,803,196
66$7,498,764$4,499,263$3,850,573$6,224,964
67$8,228,031$4,684,120$3,943,960$6,684,104
68$9,030,561$4,876,913$4,039,354$7,184,229
69$9,913,792$5,077,996$4,136,786$7,729,315
70$10,885,919$5,287,738$4,236,289$8,323,733
71$11,955,973$5,506,527$4,337,895$8,972,293
72$13,133,902$5,734,767$4,441,634$9,680,288
73$14,430,670$5,972,880$4,547,539$10,453,540
74$15,858,358$6,221,310$4,655,640$11,298,458
75$17,430,275$6,480,520$4,765,970$12,222,093
76$19,161,092$6,750,994$4,878,558$13,232,208
77$21,066,968$7,033,238$4,993,435$14,337,344
78$23,165,715$7,327,782$5,110,631$15,546,907
79$25,476,956$7,635,181$5,230,175$16,871,246
80$28,022,316$7,956,016$5,352,096$18,321,758
81$30,825,624$8,290,893$5,476,424$19,910,989
82$33,913,139$8,640,447$5,603,185$21,652,751
83$37,313,793$9,005,344$5,732,406$23,562,254
84$41,059,473$9,386,278$5,864,114$25,656,244
85$45,185,311$9,783,978$5,998,334$27,953,160
86$49,730,024$10,199,205$6,135,090$30,473,309
87$54,736,277$10,632,755$6,274,405$33,239,052
88$60,251,081$11,085,465$6,416,302$36,275,017
89$66,326,245$11,558,206$6,560,801$39,608,324
90$73,018,856$12,051,891$6,707,922$43,268,844
91$80,391,824$12,567,479$6,857,682$47,289,475
92$88,514,474$13,105,969$7,010,098$51,706,454
93$97,463,198$13,668,410$7,165,185$56,559,690
94$107,322,181$14,255,899$7,322,955$61,893,146
95$118,184,188$14,869,583$7,483,419$67,755,245
96$130,151,447$15,510,664$7,646,585$74,199,328
97$143,336,610$16,180,401$7,812,461$81,284,153
98$157,863,815$16,880,112$7,981,049$89,074,444
99$173,869,861$17,611,175$8,152,351$97,641,506
100$191,505,498$18,375,033$8,326,367$107,063,887