Can I retire at age 57 with 591,000?

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 $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$48,804$48,370$47,945$47,531$47,127$46,732
2 years$24,161$23,711$23,274$22,852$22,442$22,044
3 years$15,947$15,495$15,060$14,641$14,238$13,849
4 years$11,841$11,391$10,960$10,548$10,155$9,778
5 years$9,378$8,930$8,505$8,102$7,719$7,356
6 years$7,737$7,292$6,874$6,479$6,108$5,759
7 years$6,565$6,124$5,712$5,327$4,967$4,632
8 years$5,686$5,249$4,844$4,469$4,121$3,799
9 years$5,003$4,571$4,172$3,806$3,470$3,163
10 years$4,457$4,029$3,638$3,281$2,957$2,663
11 years$4,011$3,587$3,202$2,856$2,543$2,263
12 years$3,639$3,219$2,842$2,505$2,204$1,936
13 years$3,324$2,909$2,539$2,211$1,922$1,667
14 years$3,055$2,644$2,281$1,963$1,685$1,443
15 years$2,822$2,416$2,060$1,751$1,483$1,254
16 years$2,618$2,216$1,868$1,567$1,311$1,093
17 years$2,439$2,041$1,699$1,408$1,162$956
18 years$2,279$1,886$1,551$1,269$1,034$838
19 years$2,137$1,748$1,420$1,147$921$737
20 years$2,009$1,624$1,303$1,039$823$649
21 years$1,893$1,513$1,199$943$736$572
22 years$1,788$1,412$1,105$857$660$505
23 years$1,692$1,321$1,020$781$592$447
24 years$1,604$1,238$944$712$533$396
25 years$1,524$1,161$874$650$479$350
26 years$1,449$1,092$810$594$432$311
27 years$1,381$1,027$753$544$389$276
28 years$1,317$968$700$499$351$245
29 years$1,258$913$651$457$317$218
30 years$1,203$862$606$420$286$194
31 years$1,152$815$565$385$259$172
32 years$1,103$771$528$354$234$153
33 years$1,058$731$493$326$212$136
34 years$1,016$692$460$300$192$122
35 years$976$657$430$276$174$108
36 years$939$623$402$254$158$96
37 years$903$592$377$234$143$86
38 years$870$563$353$216$129$77
39 years$838$535$331$199$117$68
40 years$808$509$310$183$106$61
41 years$779$485$290$169$97$54
42 years$752$461$272$156$88$48
43 years$727$440$256$144$80$43
44 years$702$419$240$133$72$39
45 years$679$400$225$123$66$34
46 years$657$381$212$114$60$31
47 years$635$364$199$105$54$27
48 years$615$347$187$97$49$24
49 years$596$332$176$90$45$22
50 years$577$317$165$83$40$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $591,000, adding $3,023 every year, while hoping to spend $33,954 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: 64/22/14 Blend
56$591,000$591,000$591,000$591,000
57$654,400$623,077$613,917$693,905
58$685,022$617,481$598,356$715,128
59$717,630$610,473$581,136$734,109
60$752,389$601,948$562,166$754,006
61$789,484$591,794$541,349$774,911
62$829,113$579,893$518,586$796,921
63$871,495$566,121$493,772$820,148
64$916,872$550,345$466,797$844,715
65$965,507$532,426$437,549$870,759
66$1,017,688$512,215$405,906$898,433
67$1,073,734$489,554$371,745$927,907
68$1,133,992$464,280$334,936$959,368
69$1,198,844$436,214$295,341$993,026
70$1,268,710$405,173$252,820$1,029,115
71$1,344,052$370,960$207,223$1,067,892
72$1,425,376$333,367$158,395$1,109,645
73$1,513,238$292,176$106,174$1,154,692
74$1,608,249$247,154$50,393$1,203,387
75$1,711,083$198,057$0$1,256,122
76$1,822,478$144,626$0$1,314,697
77$1,943,246$86,588$0$1,386,351
78$2,074,281$23,655$0$1,464,113
79$2,216,566$0$0$1,548,604
80$2,371,181$0$0$1,651,281
81$2,539,315$0$0$1,769,199
82$2,722,276$0$0$1,897,554
83$2,921,504$0$0$2,037,360
84$3,138,583$0$0$2,189,732
85$3,375,254$0$0$2,355,901
86$3,633,437$0$0$2,537,217
87$3,915,243$0$0$2,735,170
88$4,222,995$0$0$2,951,397
89$4,559,253$0$0$3,187,703
90$4,926,833$0$0$3,446,072
91$5,328,835$0$0$3,728,692
92$5,768,676$0$0$4,037,969
93$6,250,113$0$0$4,376,554
94$6,777,287$0$0$4,747,367
95$7,354,758$0$0$5,153,621
96$7,987,545$0$0$5,598,856
97$8,681,179$0$0$6,086,972
98$9,441,749$0$0$6,622,263
99$10,275,962$0$0$7,209,457
100$11,191,206$0$0$7,853,765