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%16.5%
1 years$57,640$57,127$56,626$56,137$55,660$54,182
2 years$28,535$28,003$27,488$26,989$26,505$25,026
3 years$18,834$18,300$17,787$17,292$16,816$15,383
4 years$13,985$13,453$12,944$12,458$11,993$10,617
5 years$11,076$10,547$10,045$9,569$9,117$7,801
6 years$9,137$8,613$8,118$7,652$7,214$5,960
7 years$7,753$7,233$6,746$6,291$5,867$4,674
8 years$6,716$6,200$5,721$5,278$4,867$3,736
9 years$5,909$5,398$4,928$4,495$4,099$3,027
10 years$5,264$4,758$4,296$3,875$3,492$2,480
11 years$4,737$4,236$3,782$3,373$3,004$2,048
12 years$4,298$3,802$3,357$2,958$2,603$1,703
13 years$3,926$3,436$2,999$2,612$2,270$1,423
14 years$3,608$3,123$2,695$2,318$1,990$1,195
15 years$3,333$2,853$2,433$2,067$1,752$1,006
16 years$3,092$2,618$2,206$1,851$1,548$850
17 years$2,880$2,411$2,007$1,663$1,373$720
18 years$2,692$2,228$1,832$1,499$1,221$611
19 years$2,524$2,064$1,677$1,354$1,088$520
20 years$2,372$1,918$1,539$1,227$972$442
21 years$2,236$1,787$1,416$1,113$870$377
22 years$2,111$1,668$1,305$1,012$780$322
23 years$1,998$1,560$1,205$922$700$275
24 years$1,895$1,462$1,114$841$629$235
25 years$1,800$1,372$1,032$768$566$201
26 years$1,712$1,289$957$702$510$172
27 years$1,631$1,213$889$643$460$147
28 years$1,556$1,143$826$589$415$126
29 years$1,486$1,079$769$540$374$108
30 years$1,421$1,019$716$496$338$92
31 years$1,360$963$668$455$306$79
32 years$1,303$911$623$418$277$68
33 years$1,250$863$582$385$250$58
34 years$1,200$818$544$354$227$50
35 years$1,153$776$508$326$205$43
36 years$1,109$736$475$300$186$37
37 years$1,067$699$445$276$169$32
38 years$1,027$664$417$255$153$27
39 years$990$632$390$235$139$23
40 years$954$601$366$217$126$20
41 years$921$572$343$200$114$17
42 years$889$545$322$185$104$15
43 years$858$519$302$170$94$13
44 years$829$495$283$157$85$11
45 years$802$472$266$145$77$9
46 years$775$450$250$134$70$8
47 years$750$430$235$124$64$7
48 years$726$410$221$115$58$6
49 years$703$392$207$106$53$5
50 years$681$374$195$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $698,000, adding $3,003 every year, while hoping to spend $21,610 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: 40/43/17 Blend
56$698,000$698,000$698,000$698,000
57$772,294$735,300$724,481$799,177
58$828,075$748,336$725,758$831,633
59$888,821$761,288$726,354$864,406
60$955,017$774,127$726,222$899,403
61$1,027,193$786,824$725,316$936,839
62$1,105,937$799,349$723,584$976,948
63$1,191,893$811,667$720,974$1,019,991
64$1,285,771$823,743$717,432$1,066,254
65$1,388,352$835,539$712,898$1,116,055
66$1,500,496$847,012$707,312$1,169,743
67$1,623,151$858,120$700,611$1,227,704
68$1,757,358$868,814$692,728$1,290,367
69$1,904,268$879,045$683,593$1,358,201
70$2,065,143$888,759$673,134$1,431,728
71$2,241,377$897,897$661,273$1,511,521
72$2,434,503$906,399$647,931$1,598,215
73$2,646,210$914,200$633,024$1,692,511
74$2,878,357$921,230$616,464$1,795,180
75$3,132,994$927,415$598,160$1,907,079
76$3,412,377$932,675$578,016$2,029,147
77$3,718,991$936,928$555,931$2,162,426
78$4,055,574$940,083$531,801$2,308,064
79$4,425,141$942,046$505,515$2,467,327
80$4,831,016$942,717$476,960$2,641,616
81$5,276,856$941,987$446,015$2,832,473
82$5,766,695$939,743$412,555$3,041,603
83$6,304,972$935,865$376,450$3,270,886
84$6,896,580$930,224$337,563$3,522,396
85$7,546,911$922,684$295,751$3,798,425
86$8,261,902$913,102$250,865$4,101,497
87$9,048,096$901,324$202,749$4,434,402
88$9,912,702$887,189$151,241$4,800,215
89$10,863,661$870,524$96,171$5,202,329
90$11,909,723$851,149$37,361$5,644,489
91$13,060,530$828,870$0$6,130,826
92$14,326,704$803,485$0$6,670,502
93$15,719,948$774,776$0$7,271,470
94$17,253,159$742,516$0$7,932,526
95$18,940,545$706,463$0$8,659,824
96$20,797,763$666,362$0$9,460,150
97$22,842,063$621,942$0$10,340,987
98$25,092,454$572,918$0$11,310,584
99$27,569,881$518,988$0$12,378,037
100$30,297,423$459,832$0$13,553,374