Can I retire at age 57 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$57,640$57,127$56,626$56,137$55,660$53,878
2 years$28,535$28,003$27,488$26,989$26,505$24,726
3 years$18,834$18,300$17,787$17,292$16,816$15,096
4 years$13,985$13,453$12,944$12,458$11,993$10,345
5 years$11,076$10,547$10,045$9,569$9,117$7,546
6 years$9,137$8,613$8,118$7,652$7,214$5,721
7 years$7,753$7,233$6,746$6,291$5,867$4,451
8 years$6,716$6,200$5,721$5,278$4,867$3,528
9 years$5,909$5,398$4,928$4,495$4,099$2,835
10 years$5,264$4,758$4,296$3,875$3,492$2,302
11 years$4,737$4,236$3,782$3,373$3,004$1,884
12 years$4,298$3,802$3,357$2,958$2,603$1,552
13 years$3,926$3,436$2,999$2,612$2,270$1,285
14 years$3,608$3,123$2,695$2,318$1,990$1,068
15 years$3,333$2,853$2,433$2,067$1,752$891
16 years$3,092$2,618$2,206$1,851$1,548$745
17 years$2,880$2,411$2,007$1,663$1,373$625
18 years$2,692$2,228$1,832$1,499$1,221$525
19 years$2,524$2,064$1,677$1,354$1,088$442
20 years$2,372$1,918$1,539$1,227$972$372
21 years$2,236$1,787$1,416$1,113$870$314
22 years$2,111$1,668$1,305$1,012$780$265
23 years$1,998$1,560$1,205$922$700$224
24 years$1,895$1,462$1,114$841$629$189
25 years$1,800$1,372$1,032$768$566$160
26 years$1,712$1,289$957$702$510$135
27 years$1,631$1,213$889$643$460$114
28 years$1,556$1,143$826$589$415$97
29 years$1,486$1,079$769$540$374$82
30 years$1,421$1,019$716$496$338$69
31 years$1,360$963$668$455$306$59
32 years$1,303$911$623$418$277$50
33 years$1,250$863$582$385$250$42
34 years$1,200$818$544$354$227$36
35 years$1,153$776$508$326$205$30
36 years$1,109$736$475$300$186$26
37 years$1,067$699$445$276$169$22
38 years$1,027$664$417$255$153$19
39 years$990$632$390$235$139$16
40 years$954$601$366$217$126$13
41 years$921$572$343$200$114$11
42 years$889$545$322$185$104$10
43 years$858$519$302$170$94$8
44 years$829$495$283$157$85$7
45 years$802$472$266$145$77$6
46 years$775$450$250$134$70$5
47 years$750$430$235$124$64$4
48 years$726$410$221$115$58$4
49 years$703$392$207$106$53$3
50 years$681$374$195$98$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $698,000, adding $5,783 every year, while hoping to spend $34,856 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: 45/50/5 Blend
56$698,000$698,000$698,000$698,000
57$775,161$738,167$727,348$808,727
58$817,141$737,251$714,628$831,510
59$862,235$735,121$700,313$852,099
60$910,723$731,683$684,314$873,601
61$962,914$726,832$666,536$896,109
62$1,019,146$720,462$646,880$919,731
63$1,079,792$712,457$625,243$944,583
64$1,145,259$702,696$601,517$970,801
65$1,215,997$691,050$575,589$998,533
66$1,292,498$677,381$547,341$1,027,946
67$1,375,305$661,545$516,649$1,059,226
68$1,465,015$643,389$483,385$1,092,582
69$1,562,281$622,750$447,414$1,128,248
70$1,667,826$599,457$408,594$1,166,483
71$1,782,442$573,327$366,779$1,207,577
72$1,906,999$544,169$321,815$1,251,854
73$2,042,458$511,779$273,541$1,299,675
74$2,189,874$475,941$221,790$1,351,441
75$2,350,408$436,428$166,386$1,407,601
76$2,525,336$393,000$107,147$1,468,651
77$2,716,066$345,403$43,882$1,535,147
78$2,924,144$293,367$0$1,607,704
79$3,151,274$236,609$0$1,688,269
80$3,399,331$174,830$0$1,778,923
81$3,670,378$107,711$0$1,878,179
82$3,966,687$34,920$0$1,986,989
83$4,290,761$0$0$2,106,408
84$4,645,354$0$0$2,261,758
85$5,033,499$0$0$2,452,920
86$5,458,536$0$0$2,662,336
87$5,924,143$0$0$2,891,827
88$6,434,370$0$0$3,143,401
89$6,993,678$0$0$3,419,268
90$7,606,979$0$0$3,721,864
91$8,279,686$0$0$4,053,871
92$9,017,758$0$0$4,418,242
93$9,827,760$0$0$4,818,231
94$10,716,924$0$0$5,257,424
95$11,693,214$0$0$5,739,767
96$12,765,405$0$0$6,269,612
97$13,943,163$0$0$6,851,748
98$15,237,137$0$0$7,491,456
99$16,659,057$0$0$8,194,550
100$18,221,847$0$0$8,967,437