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%12.6%
1 years$246,911$244,712$242,566$240,472$238,427$235,839
2 years$122,233$119,957$117,751$115,611$113,537$110,931
3 years$80,679$78,393$76,192$74,073$72,032$69,489
4 years$59,907$57,627$55,449$53,366$51,374$48,914
5 years$47,446$45,180$43,030$40,990$39,054$36,684
6 years$39,142$36,893$34,775$32,780$30,902$28,624
7 years$33,213$30,983$28,898$26,950$25,131$22,948
8 years$28,768$26,558$24,508$22,608$20,849$18,759
9 years$25,312$23,124$21,109$19,257$17,558$15,561
10 years$22,550$20,382$18,403$16,600$14,960$13,054
11 years$20,291$18,145$16,202$14,447$12,866$11,050
12 years$18,410$16,286$14,379$12,672$11,150$9,422
13 years$16,819$14,718$12,846$11,187$9,723$8,081
14 years$15,457$13,378$11,542$9,931$8,523$6,965
15 years$14,278$12,221$10,421$8,856$7,504$6,027
16 years$13,247$11,213$9,448$7,930$6,632$5,234
17 years$12,338$10,326$8,598$7,125$5,881$4,558
18 years$11,531$9,542$7,849$6,421$5,229$3,980
19 years$10,810$8,844$7,185$5,802$4,660$3,482
20 years$10,162$8,218$6,594$5,255$4,163$3,053
21 years$9,576$7,655$6,065$4,769$3,725$2,680
22 years$9,045$7,145$5,590$4,336$3,339$2,357
23 years$8,560$6,683$5,161$3,949$2,997$2,074
24 years$8,116$6,261$4,773$3,602$2,694$1,828
25 years$7,709$5,876$4,421$3,289$2,424$1,612
26 years$7,333$5,523$4,100$3,008$2,184$1,423
27 years$6,986$5,197$3,808$2,753$1,969$1,257
28 years$6,664$4,897$3,540$2,522$1,777$1,111
29 years$6,365$4,620$3,294$2,313$1,604$983
30 years$6,086$4,363$3,068$2,123$1,449$870
31 years$5,826$4,125$2,860$1,950$1,310$770
32 years$5,583$3,903$2,669$1,792$1,185$682
33 years$5,355$3,696$2,492$1,648$1,073$604
34 years$5,140$3,503$2,328$1,516$971$535
35 years$4,939$3,323$2,177$1,396$880$474
36 years$4,749$3,154$2,036$1,285$797$420
37 years$4,570$2,995$1,906$1,184$722$373
38 years$4,400$2,846$1,785$1,091$655$331
39 years$4,240$2,707$1,672$1,006$594$293
40 years$4,088$2,575$1,567$928$539$260
41 years$3,944$2,451$1,470$856$489$231
42 years$3,807$2,335$1,379$790$443$205
43 years$3,676$2,224$1,294$730$402$182
44 years$3,553$2,120$1,214$674$365$161
45 years$3,434$2,022$1,140$622$332$143
46 years$3,322$1,929$1,071$575$301$127
47 years$3,214$1,841$1,006$531$273$113
48 years$3,112$1,757$945$491$248$100
49 years$3,013$1,678$889$453$226$89
50 years$2,919$1,603$835$419$205$79

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 $3,706 every year, while hoping to spend $48,562 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: 44/36/20 Blend
56$2,990,000$2,990,000$2,990,000$2,990,000
57$3,298,803$3,140,333$3,093,988$3,424,701
58$3,583,611$3,242,539$3,145,967$3,615,982
59$3,895,842$3,348,127$3,198,059$3,818,131
60$4,238,242$3,457,209$3,250,218$4,036,245
61$4,613,835$3,569,904$3,302,393$4,271,825
62$5,025,952$3,686,336$3,354,529$4,526,521
63$5,478,262$3,806,629$3,406,569$4,802,150
64$5,974,808$3,930,917$3,458,452$5,100,706
65$6,520,041$4,059,334$3,510,112$5,424,388
66$7,118,865$4,192,022$3,561,481$5,775,612
67$7,776,683$4,329,125$3,612,485$6,157,038
68$8,499,447$4,470,794$3,663,046$6,571,591
69$9,293,714$4,617,186$3,713,081$7,022,495
70$10,166,707$4,768,462$3,762,503$7,513,293
71$11,126,383$4,924,789$3,811,219$8,047,889
72$12,181,511$5,086,340$3,859,131$8,630,580
73$13,341,749$5,253,295$3,906,136$9,266,095
74$14,617,739$5,425,839$3,952,124$9,959,642
75$16,021,207$5,604,164$3,996,979$10,716,954
76$17,565,072$5,788,469$4,040,579$11,544,348
77$19,263,566$5,978,961$4,082,795$12,448,774
78$21,132,373$6,175,853$4,123,492$13,437,890
79$23,188,772$6,379,366$4,162,525$14,520,129
80$25,451,801$6,589,730$4,199,745$15,704,778
81$27,942,439$6,807,181$4,234,991$17,002,065
82$30,683,801$7,031,966$4,268,096$18,423,258
83$33,701,356$7,264,340$4,298,884$19,980,764
84$37,023,167$7,504,565$4,327,170$21,688,254
85$40,680,158$7,752,916$4,352,757$23,560,784
86$44,706,401$8,009,677$4,375,442$25,614,941
87$49,139,443$8,275,139$4,395,008$27,868,996
88$54,020,653$8,549,609$4,411,228$30,343,078
89$59,395,621$8,833,401$4,423,865$33,059,361
90$65,314,578$9,126,841$4,432,669$36,042,275
91$71,832,878$9,430,269$4,437,376$39,318,731
92$79,011,515$9,744,036$4,437,712$42,918,383
93$86,917,702$10,068,506$4,433,387$46,873,897
94$95,625,500$10,404,055$4,424,098$51,221,264
95$105,216,523$10,751,075$4,409,527$56,000,140
96$115,780,702$11,109,972$4,389,340$61,254,216
97$127,417,139$11,481,166$4,363,188$67,031,629
98$140,235,036$11,865,093$4,330,705$73,385,421
99$154,354,732$12,262,204$4,291,505$80,374,031
100$169,908,832$12,672,969$4,245,188$88,061,852