Can I retire at age 57 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$57,805$57,290$56,788$56,298$55,819$55,490
2 years$28,617$28,084$27,567$27,066$26,580$26,249
3 years$18,888$18,353$17,838$17,342$16,864$16,540
4 years$14,025$13,491$12,981$12,494$12,027$11,713
5 years$11,108$10,577$10,074$9,596$9,143$8,840
6 years$9,164$8,637$8,141$7,674$7,235$6,942
7 years$7,776$7,254$6,765$6,309$5,884$5,603
8 years$6,735$6,218$5,738$5,293$4,881$4,611
9 years$5,926$5,414$4,942$4,508$4,111$3,852
10 years$5,279$4,772$4,308$3,886$3,502$3,255
11 years$4,750$4,248$3,793$3,382$3,012$2,776
12 years$4,310$3,813$3,366$2,967$2,610$2,385
13 years$3,938$3,446$3,008$2,619$2,276$2,061
14 years$3,619$3,132$2,702$2,325$1,995$1,790
15 years$3,343$2,861$2,440$2,073$1,757$1,562
16 years$3,101$2,625$2,212$1,857$1,553$1,368
17 years$2,889$2,418$2,013$1,668$1,377$1,201
18 years$2,700$2,234$1,837$1,503$1,224$1,058
19 years$2,531$2,070$1,682$1,358$1,091$933
20 years$2,379$1,924$1,544$1,230$975$825
21 years$2,242$1,792$1,420$1,117$872$731
22 years$2,117$1,673$1,309$1,015$782$649
23 years$2,004$1,565$1,208$925$702$576
24 years$1,900$1,466$1,118$843$631$513
25 years$1,805$1,376$1,035$770$568$456
26 years$1,717$1,293$960$704$511$407
27 years$1,635$1,217$891$645$461$363
28 years$1,560$1,147$829$591$416$324
29 years$1,490$1,082$771$542$376$289
30 years$1,425$1,021$718$497$339$258
31 years$1,364$966$670$456$307$231
32 years$1,307$914$625$419$278$206
33 years$1,254$865$583$386$251$185
34 years$1,203$820$545$355$227$165
35 years$1,156$778$510$327$206$148
36 years$1,112$738$477$301$187$133
37 years$1,070$701$446$277$169$119
38 years$1,030$666$418$256$153$106
39 years$993$634$391$236$139$95
40 years$957$603$367$217$126$85
41 years$923$574$344$201$114$77
42 years$891$547$323$185$104$69
43 years$861$521$303$171$94$62
44 years$832$496$284$158$86$55
45 years$804$473$267$146$78$50
46 years$778$452$251$135$70$44
47 years$753$431$236$124$64$40
48 years$728$411$221$115$58$36
49 years$705$393$208$106$53$32
50 years$683$375$196$98$48$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $700,000, adding $2,588 every year, while hoping to spend $38,064 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: 77/5/18 Blend
56$700,000$700,000$700,000$700,000
57$774,070$736,970$726,120$830,331
58$812,525$732,581$709,945$863,479
59$853,627$726,702$691,952$894,811
60$897,605$719,219$672,041$928,147
61$944,712$710,012$650,106$963,673
62$995,224$698,954$626,035$1,001,598
63$1,049,443$685,909$599,714$1,042,151
64$1,107,704$670,736$571,022$1,085,583
65$1,170,370$653,282$539,831$1,132,174
66$1,237,843$633,388$506,011$1,182,230
67$1,310,563$610,884$469,423$1,236,092
68$1,389,014$585,592$429,922$1,294,133
69$1,473,728$557,320$387,359$1,356,766
70$1,565,288$525,868$341,575$1,424,448
71$1,664,336$491,024$292,406$1,497,681
72$1,771,578$452,564$239,682$1,577,020
73$1,887,789$410,250$183,221$1,663,079
74$2,013,822$363,831$122,838$1,756,532
75$2,150,615$313,042$58,336$1,858,125
76$2,299,200$257,603$0$1,968,682
77$2,460,711$197,218$0$2,091,127
78$2,636,396$131,574$0$2,236,532
79$2,827,628$60,342$0$2,394,830
80$3,035,920$0$0$2,567,284
81$3,262,934$0$0$2,756,211
82$3,510,499$0$0$2,965,886
83$3,780,630$0$0$3,194,697
84$4,075,545$0$0$3,444,524
85$4,397,684$0$0$3,717,439
86$4,749,733$0$0$4,015,721
87$5,134,652$0$0$4,341,879
88$5,555,696$0$0$4,698,676
89$6,016,451$0$0$5,089,156
90$6,520,868$0$0$5,516,668
91$7,073,293$0$0$5,984,902
92$7,678,515$0$0$6,497,919
93$8,341,808$0$0$7,060,195
94$9,068,979$0$0$7,676,657
95$9,866,425$0$0$8,352,732
96$10,741,192$0$0$9,094,398
97$11,701,040$0$0$9,908,239
98$12,754,516$0$0$10,801,508
99$13,911,035$0$0$11,782,192
100$15,180,969$0$0$12,859,093