Can I retire at age 57 with 701,000?

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 $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%13.8%
1 years$57,888$57,372$56,869$56,378$55,899$55,018
2 years$28,657$28,124$27,606$27,105$26,618$25,733
3 years$18,915$18,379$17,863$17,366$16,888$16,026
4 years$14,045$13,511$13,000$12,511$12,045$11,213
5 years$11,124$10,592$10,088$9,610$9,156$8,356
6 years$9,177$8,650$8,153$7,685$7,245$6,478
7 years$7,787$7,264$6,775$6,318$5,892$5,159
8 years$6,745$6,226$5,746$5,300$4,888$4,188
9 years$5,934$5,421$4,949$4,515$4,116$3,450
10 years$5,287$4,779$4,315$3,892$3,507$2,873
11 years$4,757$4,254$3,798$3,387$3,016$2,414
12 years$4,316$3,818$3,371$2,971$2,614$2,042
13 years$3,943$3,451$3,012$2,623$2,279$1,738
14 years$3,624$3,136$2,706$2,328$1,998$1,486
15 years$3,347$2,865$2,443$2,076$1,759$1,276
16 years$3,106$2,629$2,215$1,859$1,555$1,098
17 years$2,893$2,421$2,016$1,670$1,379$949
18 years$2,703$2,237$1,840$1,505$1,226$821
19 years$2,534$2,073$1,685$1,360$1,093$712
20 years$2,382$1,927$1,546$1,232$976$619
21 years$2,245$1,795$1,422$1,118$873$538
22 years$2,121$1,675$1,311$1,017$783$469
23 years$2,007$1,567$1,210$926$703$409
24 years$1,903$1,468$1,119$844$632$357
25 years$1,807$1,378$1,037$771$568$312
26 years$1,719$1,295$961$705$512$273
27 years$1,638$1,219$893$645$462$239
28 years$1,562$1,148$830$591$417$209
29 years$1,492$1,083$772$542$376$183
30 years$1,427$1,023$719$498$340$160
31 years$1,366$967$671$457$307$141
32 years$1,309$915$626$420$278$123
33 years$1,255$867$584$386$252$108
34 years$1,205$821$546$355$228$95
35 years$1,158$779$510$327$206$83
36 years$1,113$739$477$301$187$73
37 years$1,071$702$447$278$169$64
38 years$1,032$667$418$256$154$56
39 years$994$635$392$236$139$49
40 years$958$604$367$218$126$43
41 years$925$575$345$201$115$38
42 years$892$547$323$185$104$33
43 years$862$522$303$171$94$29
44 years$833$497$285$158$86$26
45 years$805$474$267$146$78$23
46 years$779$452$251$135$71$20
47 years$754$432$236$124$64$17
48 years$729$412$222$115$58$15
49 years$706$393$208$106$53$13
50 years$684$376$196$98$48$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $701,000, adding $2,884 every year, while hoping to spend $54,455 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: 70/21/9 Blend
56$701,000$701,000$701,000$701,000
57$775,477$738,324$727,458$828,261
58$796,636$716,562$693,889$841,826
59$818,128$691,909$657,369$849,732
60$839,929$664,165$617,743$856,912
61$862,013$633,120$574,849$863,283
62$884,346$598,550$528,514$868,755
63$906,891$560,221$478,560$873,231
64$929,604$517,882$424,802$876,605
65$952,435$471,270$367,045$878,763
66$975,328$420,106$305,085$879,581
67$998,217$364,097$238,711$878,923
68$1,021,027$302,930$167,700$876,644
69$1,043,676$236,277$91,822$872,585
70$1,066,067$163,791$10,835$866,574
71$1,088,095$85,106$0$858,425
72$1,109,638$0$0$855,194
73$1,130,560$0$0$851,024
74$1,150,711$0$0$865,903
75$1,169,919$0$0$880,035
76$1,187,995$0$0$893,272
77$1,204,724$0$0$905,448
78$1,219,870$0$0$916,379
79$1,233,167$0$0$925,861
80$1,244,320$0$0$933,664
81$1,252,999$0$0$939,534
82$1,258,840$0$0$943,187
83$1,261,434$0$0$944,310
84$1,260,329$0$0$942,552
85$1,255,024$0$0$937,526
86$1,244,962$0$0$928,800
87$1,229,524$0$0$915,897
88$1,208,025$0$0$898,286
89$1,179,705$0$0$875,383
90$1,143,723$0$0$846,535
91$1,099,147$0$0$811,024
92$1,044,946$0$0$768,052
93$979,977$0$0$716,737
94$902,977$0$0$656,104
95$812,549$0$0$585,074
96$707,148$0$0$502,453
97$585,065$0$0$406,922
98$444,412$0$0$297,024
99$283,102$0$0$171,147
100$98,829$0$0$27,511