Can I retire at age 57 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$57,971$57,454$56,950$56,459$55,978$54,983
2 years$28,698$28,164$27,646$27,144$26,656$25,657
3 years$18,942$18,405$17,889$17,391$16,912$15,940
4 years$14,065$13,530$13,018$12,529$12,062$11,124
5 years$11,140$10,608$10,103$9,624$9,169$8,269
6 years$9,190$8,662$8,165$7,696$7,255$6,393
7 years$7,798$7,274$6,785$6,327$5,900$5,077
8 years$6,754$6,235$5,754$5,308$4,895$4,110
9 years$5,943$5,429$4,956$4,521$4,122$3,375
10 years$5,294$4,785$4,321$3,897$3,512$2,802
11 years$4,764$4,260$3,804$3,392$3,021$2,347
12 years$4,322$3,824$3,376$2,975$2,618$1,979
13 years$3,949$3,456$3,016$2,627$2,283$1,679
14 years$3,629$3,141$2,710$2,332$2,001$1,431
15 years$3,352$2,869$2,447$2,079$1,762$1,224
16 years$3,110$2,633$2,218$1,862$1,557$1,050
17 years$2,897$2,424$2,019$1,673$1,381$904
18 years$2,707$2,240$1,843$1,508$1,228$779
19 years$2,538$2,076$1,687$1,362$1,094$674
20 years$2,386$1,929$1,548$1,234$977$583
21 years$2,248$1,797$1,424$1,120$875$505
22 years$2,124$1,678$1,312$1,018$784$439
23 years$2,010$1,569$1,212$927$704$381
24 years$1,906$1,470$1,121$846$633$331
25 years$1,810$1,380$1,038$772$569$288
26 years$1,722$1,297$963$706$513$251
27 years$1,640$1,220$894$646$462$219
28 years$1,565$1,150$831$592$417$191
29 years$1,494$1,085$773$543$377$166
30 years$1,429$1,024$720$498$340$145
31 years$1,368$968$672$458$308$127
32 years$1,311$916$627$421$278$111
33 years$1,257$868$585$387$252$97
34 years$1,207$822$547$356$228$84
35 years$1,160$780$511$328$207$74
36 years$1,115$740$478$302$187$64
37 years$1,073$703$447$278$170$56
38 years$1,033$668$419$256$154$49
39 years$995$635$393$236$139$43
40 years$960$605$368$218$126$38
41 years$926$576$345$201$115$33
42 years$894$548$324$186$104$29
43 years$863$522$304$171$94$25
44 years$834$498$285$158$86$22
45 years$806$475$268$146$78$19
46 years$780$453$251$135$71$17
47 years$755$432$236$125$64$15
48 years$731$413$222$115$58$13
49 years$707$394$209$106$53$11
50 years$685$376$196$98$48$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $702,000, adding $3,355 every year, while hoping to spend $32,966 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: 62/19/19 Blend
56$702,000$702,000$702,000$702,000
57$777,065$739,859$728,978$821,256
58$821,250$741,036$718,323$852,628
59$868,837$741,167$706,206$882,875
60$920,138$740,164$692,544$915,134
61$975,496$737,936$677,249$949,602
62$1,035,289$734,386$660,228$986,500
63$1,099,929$729,412$641,387$1,026,073
64$1,169,872$722,904$620,624$1,068,588
65$1,245,619$714,746$597,834$1,114,346
66$1,327,719$704,816$572,909$1,163,674
67$1,416,778$692,983$545,732$1,216,939
68$1,513,459$679,109$516,185$1,274,544
69$1,618,496$663,049$484,140$1,336,935
70$1,732,692$644,648$449,469$1,404,605
71$1,856,933$623,743$412,033$1,478,100
72$1,992,193$600,159$371,689$1,558,024
73$2,139,545$573,714$328,288$1,645,041
74$2,300,166$544,214$281,673$1,739,890
75$2,475,356$511,454$231,683$1,843,384
76$2,666,544$475,217$178,146$1,956,424
77$2,875,302$435,273$120,884$2,080,003
78$3,103,362$391,380$59,712$2,215,219
79$3,352,629$343,282$0$2,363,286
80$3,625,202$290,708$0$2,526,673
81$3,923,392$233,371$0$2,718,724
82$4,249,742$170,971$0$2,928,998
83$4,607,054$103,187$0$3,159,345
84$4,998,413$29,683$0$3,411,805
85$5,427,216$0$0$3,688,628
86$5,897,204$0$0$4,002,728
87$6,412,498$0$0$4,353,964
88$6,977,636$0$0$4,739,228
89$7,597,616$0$0$5,161,936
90$8,277,945$0$0$5,625,849
91$9,024,687$0$0$6,135,108
92$9,844,521$0$0$6,694,278
93$10,744,807$0$0$7,308,385
94$11,733,651$0$0$7,982,966
95$12,819,982$0$0$8,724,122
96$14,013,639$0$0$9,538,574
97$15,325,458$0$0$10,433,723
98$16,767,378$0$0$11,417,728
99$18,352,555$0$0$12,499,574
100$20,095,479$0$0$13,689,162