Can I retire at age 57 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$57,558$57,045$56,545$56,056$55,580$54,258
2 years$28,494$27,963$27,449$26,950$26,467$25,143
3 years$18,807$18,274$17,761$17,267$16,791$15,507
4 years$13,965$13,434$12,926$12,440$11,976$10,740
5 years$11,060$10,532$10,031$9,555$9,104$7,921
6 years$9,124$8,600$8,106$7,641$7,204$6,074
7 years$7,742$7,222$6,736$6,282$5,858$4,783
8 years$6,706$6,191$5,713$5,270$4,860$3,838
9 years$5,901$5,390$4,921$4,489$4,093$3,124
10 years$5,257$4,751$4,290$3,870$3,487$2,570
11 years$4,730$4,230$3,777$3,368$2,999$2,132
12 years$4,291$3,796$3,352$2,954$2,599$1,781
13 years$3,921$3,431$2,995$2,608$2,266$1,495
14 years$3,603$3,119$2,691$2,315$1,987$1,261
15 years$3,328$2,849$2,429$2,065$1,749$1,068
16 years$3,088$2,614$2,203$1,849$1,546$907
17 years$2,876$2,407$2,004$1,661$1,371$772
18 years$2,688$2,224$1,830$1,497$1,219$658
19 years$2,520$2,062$1,675$1,353$1,086$563
20 years$2,369$1,916$1,537$1,225$970$482
21 years$2,232$1,784$1,414$1,112$868$413
22 years$2,108$1,666$1,303$1,011$778$354
23 years$1,995$1,558$1,203$921$699$304
24 years$1,892$1,460$1,113$840$628$261
25 years$1,797$1,370$1,031$767$565$225
26 years$1,709$1,287$956$701$509$193
27 years$1,628$1,212$888$642$459$166
28 years$1,553$1,142$825$588$414$143
29 years$1,484$1,077$768$539$374$124
30 years$1,419$1,017$715$495$338$106
31 years$1,358$962$667$454$305$92
32 years$1,301$910$622$418$276$79
33 years$1,248$862$581$384$250$68
34 years$1,198$817$543$353$226$59
35 years$1,151$775$507$325$205$51
36 years$1,107$735$475$300$186$44
37 years$1,065$698$444$276$168$38
38 years$1,026$664$416$254$153$33
39 years$988$631$390$235$138$28
40 years$953$600$365$216$126$24
41 years$919$571$343$200$114$21
42 years$887$544$321$184$103$18
43 years$857$519$302$170$94$16
44 years$828$494$283$157$85$14
45 years$801$471$266$145$77$12
46 years$774$450$250$134$70$10
47 years$749$429$235$124$64$9
48 years$725$410$220$114$58$8
49 years$702$391$207$106$53$6
50 years$681$374$195$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $697,000, adding $5,065 every year, while hoping to spend $28,135 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: 59/29/12 Blend
56$697,000$697,000$697,000$697,000
57$773,319$736,378$725,574$816,386
58$822,262$742,525$719,945$852,136
59$875,254$748,030$713,185$887,501
60$932,679$752,832$705,226$925,388
61$994,958$756,867$695,996$966,042
62$1,062,554$760,064$685,423$1,009,734
63$1,135,978$762,350$673,428$1,056,764
64$1,215,790$763,648$659,930$1,107,463
65$1,302,606$763,873$644,844$1,162,196
66$1,397,107$762,937$628,081$1,221,367
67$1,500,038$760,747$609,548$1,285,421
68$1,612,221$757,203$589,147$1,354,850
69$1,734,562$752,200$566,777$1,430,197
70$1,868,054$745,625$542,331$1,512,064
71$2,013,795$737,360$515,699$1,601,111
72$2,172,990$727,278$486,763$1,698,072
73$2,346,967$715,247$455,402$1,803,753
74$2,537,189$701,125$421,488$1,919,047
75$2,745,264$684,762$384,890$2,044,938
76$2,972,965$666,000$345,468$2,182,514
77$3,222,244$644,671$303,078$2,332,973
78$3,495,250$620,596$257,568$2,497,641
79$3,794,348$593,588$208,779$2,677,980
80$4,122,146$563,449$156,548$2,875,603
81$4,481,514$529,967$100,701$3,092,291
82$4,875,613$492,920$41,059$3,330,011
83$5,307,925$452,072$0$3,590,930
84$5,782,286$407,176$0$3,880,336
85$6,302,919$357,968$0$4,203,775
86$6,874,478$304,169$0$4,558,926
87$7,502,090$245,488$0$4,949,032
88$8,191,399$181,613$0$5,377,671
89$8,948,627$112,218$0$5,848,785
90$9,780,626$36,956$0$6,366,726
91$10,694,945$0$0$6,936,291
92$11,699,901$0$0$7,576,982
93$12,804,655$0$0$8,294,324
94$14,019,302$0$0$9,083,087
95$15,354,964$0$0$9,950,500
96$16,823,892$0$0$10,904,528
97$18,439,586$0$0$11,953,948
98$20,216,920$0$0$13,108,430
99$22,172,282$0$0$14,378,626
100$24,323,728$0$0$15,776,277