Can I retire at age 57 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$56,814$56,308$55,815$55,333$54,862$53,820
2 years$28,126$27,602$27,094$26,602$26,125$25,079
3 years$18,564$18,038$17,532$17,044$16,575$15,558
4 years$13,785$13,260$12,759$12,279$11,821$10,841
5 years$10,917$10,396$9,901$9,432$8,986$8,046
6 years$9,007$8,489$8,002$7,543$7,111$6,211
7 years$7,642$7,129$6,649$6,201$5,783$4,924
8 years$6,619$6,111$5,639$5,202$4,797$3,979
9 years$5,824$5,321$4,857$4,431$4,040$3,261
10 years$5,189$4,690$4,235$3,820$3,442$2,703
11 years$4,669$4,175$3,728$3,324$2,961$2,260
12 years$4,236$3,747$3,309$2,916$2,566$1,902
13 years$3,870$3,387$2,956$2,574$2,237$1,610
14 years$3,557$3,078$2,656$2,285$1,961$1,369
15 years$3,285$2,812$2,398$2,038$1,727$1,169
16 years$3,048$2,580$2,174$1,825$1,526$1,001
17 years$2,839$2,376$1,978$1,639$1,353$859
18 years$2,653$2,196$1,806$1,477$1,203$740
19 years$2,487$2,035$1,653$1,335$1,072$638
20 years$2,338$1,891$1,517$1,209$958$551
21 years$2,204$1,761$1,396$1,097$857$476
22 years$2,081$1,644$1,286$998$768$413
23 years$1,970$1,538$1,188$909$690$358
24 years$1,868$1,441$1,098$829$620$310
25 years$1,774$1,352$1,017$757$558$269
26 years$1,687$1,271$944$692$502$234
27 years$1,607$1,196$876$633$453$203
28 years$1,533$1,127$814$580$409$177
29 years$1,465$1,063$758$532$369$154
30 years$1,400$1,004$706$488$334$134
31 years$1,341$949$658$449$302$117
32 years$1,285$898$614$412$273$102
33 years$1,232$850$573$379$247$89
34 years$1,183$806$536$349$223$77
35 years$1,136$765$501$321$202$67
36 years$1,093$726$469$296$183$59
37 years$1,051$689$439$272$166$51
38 years$1,012$655$411$251$151$45
39 years$976$623$385$232$137$39
40 years$941$593$361$214$124$34
41 years$907$564$338$197$112$30
42 years$876$537$317$182$102$26
43 years$846$512$298$168$93$22
44 years$817$488$279$155$84$20
45 years$790$465$262$143$76$17
46 years$764$444$246$132$69$15
47 years$740$424$232$122$63$13
48 years$716$404$218$113$57$11
49 years$693$386$204$104$52$10
50 years$672$369$192$96$47$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $688,000, adding $5,067 every year, while hoping to spend $48,816 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: 30/45/25 Blend
56$688,000$688,000$688,000$688,000
57$763,403$726,939$716,275$780,281
58$789,330$710,619$688,330$777,417
59$816,266$691,863$657,813$769,683
60$844,261$670,501$624,586$760,373
61$873,371$646,351$588,505$749,380
62$903,655$619,222$549,420$736,597
63$935,176$588,912$507,174$721,907
64$968,001$555,206$461,601$705,190
65$1,002,203$517,877$412,531$686,318
66$1,037,862$476,687$359,785$665,159
67$1,075,061$431,381$303,174$641,571
68$1,113,891$381,693$242,505$615,410
69$1,154,450$327,339$177,572$586,520
70$1,196,846$268,020$108,162$554,741
71$1,241,192$203,421$34,053$519,905
72$1,287,613$133,208$0$481,835
73$1,336,243$57,029$0$452,360
74$1,387,228$0$0$429,750
75$1,440,727$0$0$417,398
76$1,496,910$0$0$434,116
77$1,555,964$0$0$451,726
78$1,618,093$0$0$470,291
79$1,683,517$0$0$489,884
80$1,752,476$0$0$510,581
81$1,825,231$0$0$532,467
82$1,902,069$0$0$555,635
83$1,983,300$0$0$580,184
84$2,069,265$0$0$606,226
85$2,160,333$0$0$633,880
86$2,256,910$0$0$663,278
87$2,359,439$0$0$694,564
88$2,468,404$0$0$727,896
89$2,584,336$0$0$763,446
90$2,707,813$0$0$801,403
91$2,839,470$0$0$841,974
92$2,980,004$0$0$885,387
93$3,130,176$0$0$931,890
94$3,290,821$0$0$981,757
95$3,462,856$0$0$1,035,286
96$3,647,283$0$0$1,092,808
97$3,845,205$0$0$1,154,682
98$4,057,831$0$0$1,221,305
99$4,286,488$0$0$1,293,112
100$4,532,632$0$0$1,370,581