Can I retire at age 57 with 587,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$48,474$48,042$47,621$47,210$46,808$45,004
2 years$23,997$23,550$23,117$22,697$22,290$20,494
3 years$15,839$15,390$14,958$14,542$14,141$12,410
4 years$11,761$11,313$10,886$10,477$10,086$8,432
5 years$9,315$8,870$8,448$8,047$7,667$6,095
6 years$7,684$7,243$6,827$6,435$6,067$4,578
7 years$6,520$6,083$5,673$5,291$4,934$3,528
8 years$5,648$5,214$4,811$4,438$4,093$2,768
9 years$4,969$4,540$4,144$3,781$3,447$2,201
10 years$4,427$4,001$3,613$3,259$2,937$1,768
11 years$3,983$3,562$3,181$2,836$2,526$1,431
12 years$3,614$3,197$2,823$2,488$2,189$1,166
13 years$3,302$2,889$2,522$2,196$1,909$954
14 years$3,035$2,626$2,266$1,950$1,673$784
15 years$2,803$2,399$2,046$1,739$1,473$646
16 years$2,601$2,201$1,855$1,557$1,302$534
17 years$2,422$2,027$1,688$1,399$1,154$442
18 years$2,264$1,873$1,541$1,261$1,027$366
19 years$2,122$1,736$1,411$1,139$915$304
20 years$1,995$1,613$1,295$1,032$817$253
21 years$1,880$1,503$1,191$936$731$211
22 years$1,776$1,403$1,097$851$656$175
23 years$1,680$1,312$1,013$775$588$146
24 years$1,593$1,229$937$707$529$122
25 years$1,513$1,154$868$646$476$102
26 years$1,440$1,084$805$590$429$85
27 years$1,371$1,020$748$540$387$71
28 years$1,308$961$695$495$349$59
29 years$1,250$907$647$454$315$49
30 years$1,195$857$602$417$285$41
31 years$1,144$810$562$383$257$34
32 years$1,096$766$524$352$233$29
33 years$1,051$726$489$323$211$24
34 years$1,009$688$457$298$191$20
35 years$970$652$427$274$173$17
36 years$932$619$400$252$156$14
37 years$897$588$374$232$142$12
38 years$864$559$350$214$129$10
39 years$832$531$328$198$117$8
40 years$803$506$308$182$106$7
41 years$774$481$289$168$96$6
42 years$747$458$271$155$87$5
43 years$722$437$254$143$79$4
44 years$697$416$238$132$72$3
45 years$674$397$224$122$65$3
46 years$652$379$210$113$59$2
47 years$631$361$198$104$54$2
48 years$611$345$186$96$49$2
49 years$592$329$174$89$44$1
50 years$573$315$164$82$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $587,000, adding $2,551 every year, while hoping to spend $29,331 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: 48/28/24 Blend
56$587,000$587,000$587,000$587,000
57$649,505$618,394$609,296$676,141
58$684,547$617,488$598,499$694,125
59$722,180$615,554$586,358$710,521
60$762,637$612,511$572,796$727,736
61$806,175$608,273$557,734$745,859
62$853,075$602,748$541,088$764,992
63$903,646$595,840$522,772$785,248
64$958,227$587,446$502,694$806,755
65$1,017,191$577,456$480,759$829,653
66$1,080,949$565,755$456,868$854,102
67$1,149,949$552,220$430,917$880,278
68$1,224,688$536,724$402,797$908,377
69$1,305,710$519,127$372,395$938,620
70$1,393,614$499,285$339,591$971,250
71$1,489,057$477,045$304,262$1,006,542
72$1,592,765$452,244$266,278$1,044,797
73$1,705,533$424,710$225,505$1,086,353
74$1,828,238$394,261$181,800$1,131,586
75$1,961,844$360,706$135,016$1,180,912
76$2,107,413$323,841$85,000$1,234,796
77$2,266,111$283,452$31,590$1,293,752
78$2,439,225$239,311$0$1,358,351
79$2,628,168$191,180$0$1,435,735
80$2,834,498$138,804$0$1,529,157
81$3,059,929$81,918$0$1,631,348
82$3,306,348$20,238$0$1,743,221
83$3,575,831$0$0$1,865,788
84$3,870,668$0$0$2,014,504
85$4,193,376$0$0$2,184,166
86$4,546,730$0$0$2,370,006
87$4,933,782$0$0$2,573,638
88$5,357,898$0$0$2,796,840
89$5,822,781$0$0$3,041,571
90$6,332,511$0$0$3,309,986
91$6,891,581$0$0$3,604,463
92$7,504,940$0$0$3,927,617
93$8,178,041$0$0$4,282,331
94$8,916,886$0$0$4,671,779
95$9,728,092$0$0$5,099,461
96$10,618,944$0$0$5,569,227
97$11,597,468$0$0$6,085,322
98$12,672,507$0$0$6,652,422
99$13,853,800$0$0$7,275,678
100$15,152,080$0$0$7,960,765