Can I retire at age 57 with 697,000?

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 $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%12.7%
1 years$57,558$57,045$56,545$56,056$55,580$54,954
2 years$28,494$27,963$27,449$26,950$26,467$25,836
3 years$18,807$18,274$17,761$17,267$16,791$16,176
4 years$13,965$13,434$12,926$12,440$11,976$11,381
5 years$11,060$10,532$10,031$9,555$9,104$8,531
6 years$9,124$8,600$8,106$7,641$7,204$6,653
7 years$7,742$7,222$6,736$6,282$5,858$5,331
8 years$6,706$6,191$5,713$5,270$4,860$4,355
9 years$5,901$5,390$4,921$4,489$4,093$3,610
10 years$5,257$4,751$4,290$3,870$3,487$3,027
11 years$4,730$4,230$3,777$3,368$2,999$2,561
12 years$4,291$3,796$3,352$2,954$2,599$2,182
13 years$3,921$3,431$2,995$2,608$2,266$1,870
14 years$3,603$3,119$2,691$2,315$1,987$1,611
15 years$3,328$2,849$2,429$2,065$1,749$1,393
16 years$3,088$2,614$2,203$1,849$1,546$1,209
17 years$2,876$2,407$2,004$1,661$1,371$1,052
18 years$2,688$2,224$1,830$1,497$1,219$918
19 years$2,520$2,062$1,675$1,353$1,086$803
20 years$2,369$1,916$1,537$1,225$970$703
21 years$2,232$1,784$1,414$1,112$868$617
22 years$2,108$1,666$1,303$1,011$778$542
23 years$1,995$1,558$1,203$921$699$477
24 years$1,892$1,460$1,113$840$628$420
25 years$1,797$1,370$1,031$767$565$370
26 years$1,709$1,287$956$701$509$326
27 years$1,628$1,212$888$642$459$288
28 years$1,553$1,142$825$588$414$254
29 years$1,484$1,077$768$539$374$225
30 years$1,419$1,017$715$495$338$199
31 years$1,358$962$667$454$305$176
32 years$1,301$910$622$418$276$156
33 years$1,248$862$581$384$250$138
34 years$1,198$817$543$353$226$122
35 years$1,151$775$507$325$205$108
36 years$1,107$735$475$300$186$96
37 years$1,065$698$444$276$168$85
38 years$1,026$664$416$254$153$75
39 years$988$631$390$235$138$67
40 years$953$600$365$216$126$59
41 years$919$571$343$200$114$52
42 years$887$544$321$184$103$46
43 years$857$519$302$170$94$41
44 years$828$494$283$157$85$36
45 years$801$471$266$145$77$32
46 years$774$450$250$134$70$29
47 years$749$429$235$124$64$25
48 years$725$410$220$114$58$23
49 years$702$391$207$106$53$20
50 years$681$374$195$98$48$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $697,000, adding $2,822 every year, while hoping to spend $39,027 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: 36/38/26 Blend
56$697,000$697,000$697,000$697,000
57$771,005$734,064$723,260$792,646
58$808,123$728,509$705,965$803,356
59$847,719$721,373$686,783$811,150
60$890,005$712,539$665,608$818,800
61$935,212$701,880$642,333$826,321
62$983,594$689,263$616,842$833,728
63$1,035,431$674,547$589,016$841,045
64$1,091,028$657,583$558,731$848,299
65$1,150,720$638,211$525,856$855,525
66$1,214,876$616,266$490,254$862,766
67$1,283,899$591,569$451,784$870,074
68$1,358,233$563,932$410,295$877,510
69$1,438,366$533,158$365,633$885,146
70$1,524,833$499,036$317,635$893,068
71$1,618,221$461,344$266,131$901,374
72$1,719,177$419,848$210,944$910,180
73$1,828,412$374,299$151,889$919,620
74$1,946,706$324,435$88,773$929,846
75$2,074,917$269,980$21,394$941,035
76$2,213,990$210,640$0$953,389
77$2,364,962$146,107$0$981,149
78$2,528,976$76,053$0$1,017,809
79$2,707,287$135$0$1,057,788
80$2,901,276$0$0$1,101,489
81$3,112,465$0$0$1,183,654
82$3,342,525$0$0$1,273,313
83$3,593,299$0$0$1,371,139
84$3,866,811$0$0$1,477,933
85$4,165,291$0$0$1,594,579
86$4,491,195$0$0$1,722,049
87$4,847,224$0$0$1,861,412
88$5,236,352$0$0$2,013,847
89$5,661,855$0$0$2,180,652
90$6,127,338$0$0$2,363,255
91$6,636,772$0$0$2,563,228
92$7,194,528$0$0$2,782,305
93$7,805,420$0$0$3,022,393
94$8,474,751$0$0$3,285,594
95$9,208,358$0$0$3,574,220
96$10,012,672$0$0$3,890,822
97$10,894,776$0$0$4,238,206
98$11,862,470$0$0$4,619,465
99$12,924,347$0$0$5,038,004
100$14,089,870$0$0$5,497,576