Can I retire at age 57 with 701,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$57,888$57,372$56,869$56,378$55,899$54,950
2 years$28,657$28,124$27,606$27,105$26,618$25,666
3 years$18,915$18,379$17,863$17,366$16,888$15,960
4 years$14,045$13,511$13,000$12,511$12,045$11,150
5 years$11,124$10,592$10,088$9,610$9,156$8,297
6 years$9,177$8,650$8,153$7,685$7,245$6,422
7 years$7,787$7,264$6,775$6,318$5,892$5,105
8 years$6,745$6,226$5,746$5,300$4,888$4,137
9 years$5,934$5,421$4,949$4,515$4,116$3,402
10 years$5,287$4,779$4,315$3,892$3,507$2,828
11 years$4,757$4,254$3,798$3,387$3,016$2,371
12 years$4,316$3,818$3,371$2,971$2,614$2,003
13 years$3,943$3,451$3,012$2,623$2,279$1,701
14 years$3,624$3,136$2,706$2,328$1,998$1,451
15 years$3,347$2,865$2,443$2,076$1,759$1,243
16 years$3,106$2,629$2,215$1,859$1,555$1,068
17 years$2,893$2,421$2,016$1,670$1,379$921
18 years$2,703$2,237$1,840$1,505$1,226$795
19 years$2,534$2,073$1,685$1,360$1,093$688
20 years$2,382$1,927$1,546$1,232$976$597
21 years$2,245$1,795$1,422$1,118$873$518
22 years$2,121$1,675$1,311$1,017$783$450
23 years$2,007$1,567$1,210$926$703$392
24 years$1,903$1,468$1,119$844$632$341
25 years$1,807$1,378$1,037$771$568$297
26 years$1,719$1,295$961$705$512$259
27 years$1,638$1,219$893$645$462$226
28 years$1,562$1,148$830$591$417$198
29 years$1,492$1,083$772$542$376$173
30 years$1,427$1,023$719$498$340$151
31 years$1,366$967$671$457$307$132
32 years$1,309$915$626$420$278$115
33 years$1,255$867$584$386$252$101
34 years$1,205$821$546$355$228$88
35 years$1,158$779$510$327$206$77
36 years$1,113$739$477$301$187$68
37 years$1,071$702$447$278$169$59
38 years$1,032$667$418$256$154$52
39 years$994$635$392$236$139$45
40 years$958$604$367$218$126$40
41 years$925$575$345$201$115$35
42 years$892$547$323$185$104$31
43 years$862$522$303$171$94$27
44 years$833$497$285$158$86$23
45 years$805$474$267$146$78$21
46 years$779$452$251$135$71$18
47 years$754$432$236$124$64$16
48 years$729$412$222$115$58$14
49 years$706$393$208$106$53$12
50 years$684$376$196$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $701,000, adding $6,421 every year, while hoping to spend $40,299 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: 50/23/27 Blend
56$701,000$701,000$701,000$701,000
57$779,125$741,972$731,107$811,853
58$815,718$735,451$712,721$828,842
59$854,693$727,260$692,369$842,758
60$896,250$717,274$669,941$857,088
61$940,609$705,361$645,326$871,889
62$988,010$691,383$618,403$887,227
63$1,038,717$675,191$589,049$903,178
64$1,093,018$656,628$557,135$919,827
65$1,151,232$635,528$522,525$937,270
66$1,213,705$611,717$485,077$955,618
67$1,280,820$585,007$444,644$974,994
68$1,352,994$555,204$401,070$995,540
69$1,430,689$522,098$354,196$1,017,414
70$1,514,409$485,470$303,851$1,040,793
71$1,604,709$445,088$249,860$1,065,879
72$1,702,197$400,706$192,038$1,092,897
73$1,807,545$352,064$130,195$1,122,099
74$1,921,487$298,888$64,129$1,153,770
75$2,044,834$240,888$0$1,188,226
76$2,178,473$177,758$0$1,227,660
77$2,323,382$109,173$0$1,290,468
78$2,480,638$34,794$0$1,358,664
79$2,651,423$0$0$1,432,814
80$2,837,036$0$0$1,525,118
81$3,038,911$0$0$1,635,151
82$3,258,620$0$0$1,754,973
83$3,497,896$0$0$1,885,537
84$3,758,646$0$0$2,027,894
85$4,042,967$0$0$2,183,196
86$4,353,168$0$0$2,352,716
87$4,691,791$0$0$2,537,852
88$5,061,634$0$0$2,740,145
89$5,465,776$0$0$2,961,289
90$5,907,608$0$0$3,203,153
91$6,390,863$0$0$3,467,790
92$6,919,651$0$0$3,757,465
93$7,498,498$0$0$4,074,669
94$8,132,389$0$0$4,422,147
95$8,826,812$0$0$4,802,922
96$9,587,811$0$0$5,220,322
97$10,422,042$0$0$5,678,013
98$11,336,838$0$0$6,180,032
99$12,340,273$0$0$6,730,828
100$13,441,241$0$0$7,335,299