Can I retire at age 57 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$57,227$56,718$56,220$55,735$55,261$54,301
2 years$28,330$27,803$27,291$26,796$26,315$25,350
3 years$18,699$18,169$17,659$17,168$16,695$15,757
4 years$13,885$13,356$12,851$12,369$11,907$11,002
5 years$10,997$10,472$9,973$9,500$9,052$8,182
6 years$9,072$8,551$8,060$7,598$7,162$6,330
7 years$7,698$7,181$6,698$6,246$5,825$5,029
8 years$6,668$6,155$5,680$5,240$4,832$4,074
9 years$5,867$5,359$4,892$4,463$4,069$3,347
10 years$5,226$4,724$4,265$3,847$3,467$2,781
11 years$4,703$4,206$3,755$3,348$2,982$2,331
12 years$4,267$3,775$3,333$2,937$2,584$1,967
13 years$3,898$3,411$2,977$2,593$2,253$1,669
14 years$3,583$3,101$2,675$2,302$1,975$1,423
15 years$3,309$2,833$2,415$2,053$1,739$1,218
16 years$3,070$2,599$2,190$1,838$1,537$1,046
17 years$2,860$2,393$1,993$1,651$1,363$901
18 years$2,673$2,212$1,819$1,488$1,212$778
19 years$2,506$2,050$1,665$1,345$1,080$673
20 years$2,355$1,905$1,528$1,218$965$583
21 years$2,220$1,774$1,406$1,105$863$505
22 years$2,096$1,656$1,296$1,005$774$439
23 years$1,984$1,549$1,196$915$695$382
24 years$1,881$1,451$1,106$835$624$332
25 years$1,787$1,362$1,025$762$562$289
26 years$1,700$1,280$950$697$506$252
27 years$1,619$1,205$882$638$456$220
28 years$1,545$1,135$820$585$412$192
29 years$1,475$1,071$763$536$372$168
30 years$1,411$1,011$711$492$336$146
31 years$1,350$956$663$452$304$128
32 years$1,294$905$619$415$275$112
33 years$1,241$857$578$382$249$98
34 years$1,191$812$540$351$225$85
35 years$1,145$770$505$323$204$75
36 years$1,101$731$472$298$185$65
37 years$1,059$694$442$274$167$57
38 years$1,020$660$414$253$152$50
39 years$983$627$388$233$138$44
40 years$947$597$363$215$125$38
41 years$914$568$341$198$113$33
42 years$882$541$320$183$103$29
43 years$852$516$300$169$93$26
44 years$823$491$281$156$85$22
45 years$796$469$264$144$77$20
46 years$770$447$248$133$70$17
47 years$745$427$233$123$63$15
48 years$721$407$219$114$58$13
49 years$698$389$206$105$52$12
50 years$677$372$194$97$47$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $693,000, adding $3,412 every year, while hoping to spend $51,949 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: 39/33/28 Blend
56$693,000$693,000$693,000$693,000
57$767,205$730,476$719,735$790,646
58$790,187$710,996$688,573$788,602
59$813,772$688,821$654,626$781,352
60$837,966$663,763$617,745$772,521
61$862,776$635,624$577,777$761,998
62$888,205$604,196$534,558$749,666
63$914,257$569,257$487,921$735,400
64$940,933$530,572$437,688$719,070
65$968,233$487,895$383,676$700,536
66$996,154$440,963$325,690$679,652
67$1,024,692$389,501$263,531$656,260
68$1,053,839$333,214$196,988$630,196
69$1,083,585$271,796$125,841$601,286
70$1,113,916$204,919$49,862$569,344
71$1,144,814$132,239$0$534,174
72$1,176,258$53,392$0$504,898
73$1,208,222$0$0$488,471
74$1,240,674$0$0$481,448
75$1,273,576$0$0$493,958
76$1,306,884$0$0$506,591
77$1,340,547$0$0$519,324
78$1,374,505$0$0$532,129
79$1,408,689$0$0$544,974
80$1,443,020$0$0$557,825
81$1,477,408$0$0$570,640
82$1,511,751$0$0$583,374
83$1,545,932$0$0$595,974
84$1,579,818$0$0$608,382
85$1,613,261$0$0$620,531
86$1,646,093$0$0$632,348
87$1,678,125$0$0$643,749
88$1,709,144$0$0$654,640
89$1,738,912$0$0$664,916
90$1,767,162$0$0$674,461
91$1,793,597$0$0$683,144
92$1,817,884$0$0$690,818
93$1,839,649$0$0$697,323
94$1,858,479$0$0$702,476
95$1,873,913$0$0$706,077
96$1,885,435$0$0$707,901
97$1,892,475$0$0$707,701
98$1,894,397$0$0$705,199
99$1,890,495$0$0$700,089
100$1,879,985$0$0$692,031