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%15%
1 years$57,640$57,127$56,626$56,137$55,660$54,513
2 years$28,535$28,003$27,488$26,989$26,505$25,355
3 years$18,834$18,300$17,787$17,292$16,816$15,699
4 years$13,985$13,453$12,944$12,458$11,993$10,917
5 years$11,076$10,547$10,045$9,569$9,117$8,085
6 years$9,137$8,613$8,118$7,652$7,214$6,227
7 years$7,753$7,233$6,746$6,291$5,867$4,926
8 years$6,716$6,200$5,721$5,278$4,867$3,971
9 years$5,909$5,398$4,928$4,495$4,099$3,248
10 years$5,264$4,758$4,296$3,875$3,492$2,685
11 years$4,737$4,236$3,782$3,373$3,004$2,239
12 years$4,298$3,802$3,357$2,958$2,603$1,880
13 years$3,926$3,436$2,999$2,612$2,270$1,587
14 years$3,608$3,123$2,695$2,318$1,990$1,346
15 years$3,333$2,853$2,433$2,067$1,752$1,146
16 years$3,092$2,618$2,206$1,851$1,548$978
17 years$2,880$2,411$2,007$1,663$1,373$838
18 years$2,692$2,228$1,832$1,499$1,221$719
19 years$2,524$2,064$1,677$1,354$1,088$618
20 years$2,372$1,918$1,539$1,227$972$532
21 years$2,236$1,787$1,416$1,113$870$459
22 years$2,111$1,668$1,305$1,012$780$396
23 years$1,998$1,560$1,205$922$700$342
24 years$1,895$1,462$1,114$841$629$296
25 years$1,800$1,372$1,032$768$566$256
26 years$1,712$1,289$957$702$510$222
27 years$1,631$1,213$889$643$460$192
28 years$1,556$1,143$826$589$415$167
29 years$1,486$1,079$769$540$374$145
30 years$1,421$1,019$716$496$338$125
31 years$1,360$963$668$455$306$109
32 years$1,303$911$623$418$277$94
33 years$1,250$863$582$385$250$82
34 years$1,200$818$544$354$227$71
35 years$1,153$776$508$326$205$62
36 years$1,109$736$475$300$186$54
37 years$1,067$699$445$276$169$47
38 years$1,027$664$417$255$153$41
39 years$990$632$390$235$139$35
40 years$954$601$366$217$126$31
41 years$921$572$343$200$114$27
42 years$889$545$322$185$104$23
43 years$858$519$302$170$94$20
44 years$829$495$283$157$85$17
45 years$802$472$266$145$77$15
46 years$775$450$250$134$70$13
47 years$750$430$235$124$64$11
48 years$726$410$221$115$58$10
49 years$703$392$207$106$53$9
50 years$681$374$195$98$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $698,000, adding $5,195 every year, while hoping to spend $34,986 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: 49/37/14 Blend
56$698,000$698,000$698,000$698,000
57$774,555$737,561$726,742$809,276
58$816,334$736,476$713,863$832,652
59$861,203$734,166$699,380$853,973
60$909,439$730,533$683,202$876,357
61$961,347$725,475$665,235$899,914
62$1,017,263$718,882$645,379$924,769
63$1,077,555$710,638$623,530$951,061
64$1,142,627$700,621$599,580$978,945
65$1,212,925$688,701$573,415$1,008,595
66$1,288,936$674,740$544,917$1,040,203
67$1,371,197$658,592$513,962$1,073,986
68$1,460,298$640,102$480,419$1,110,182
69$1,556,889$619,108$444,153$1,149,060
70$1,661,683$595,436$405,024$1,190,917
71$1,775,465$568,902$362,882$1,236,085
72$1,899,098$539,313$317,574$1,284,932
73$2,033,531$506,465$268,938$1,337,868
74$2,179,809$470,140$216,805$1,395,349
75$2,339,081$430,108$161,000$1,457,881
76$2,512,613$386,129$101,339$1,526,028
77$2,701,795$337,945$37,630$1,600,412
78$2,908,161$285,287$0$1,681,728
79$3,133,395$227,868$0$1,775,280
80$3,379,354$165,386$0$1,883,680
81$3,648,081$97,523$0$2,002,281
82$3,941,826$23,942$0$2,132,166
83$4,263,063$0$0$2,274,534
84$4,614,522$0$0$2,453,395
85$4,999,202$0$0$2,659,907
86$5,420,411$0$0$2,886,105
87$5,881,789$0$0$3,133,955
88$6,387,345$0$0$3,405,619
89$6,941,494$0$0$3,703,481
90$7,549,100$0$0$4,030,165
91$8,215,518$0$0$4,388,562
92$8,946,648$0$0$4,781,857
93$9,748,988$0$0$5,213,555
94$10,629,694$0$0$5,687,522
95$11,596,650$0$0$6,208,012
96$12,658,543$0$0$6,779,713
97$13,824,937$0$0$7,407,790
98$15,106,374$0$0$8,097,932
99$16,514,463$0$0$8,856,407
100$18,061,995$0$0$9,690,119