Can I retire at age 57 with 705,000?

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 $705,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$58,218$57,700$57,194$56,700$56,218$54,353
2 years$28,821$28,284$27,764$27,260$26,770$24,910
3 years$19,023$18,484$17,965$17,465$16,984$15,186
4 years$14,125$13,588$13,074$12,583$12,113$10,391
5 years$11,187$10,653$10,146$9,665$9,208$7,567
6 years$9,229$8,699$8,199$7,729$7,286$5,728
7 years$7,831$7,305$6,814$6,354$5,926$4,449
8 years$6,783$6,262$5,779$5,331$4,916$3,520
9 years$5,968$5,452$4,977$4,541$4,140$2,823
10 years$5,317$4,806$4,339$3,914$3,527$2,288
11 years$4,784$4,278$3,820$3,406$3,034$1,869
12 years$4,341$3,840$3,390$2,988$2,629$1,537
13 years$3,966$3,470$3,029$2,638$2,292$1,270
14 years$3,645$3,154$2,722$2,342$2,010$1,053
15 years$3,366$2,882$2,457$2,088$1,769$877
16 years$3,123$2,644$2,228$1,870$1,564$732
17 years$2,909$2,435$2,027$1,680$1,387$612
18 years$2,719$2,250$1,851$1,514$1,233$513
19 years$2,549$2,085$1,694$1,368$1,099$431
20 years$2,396$1,938$1,555$1,239$982$362
21 years$2,258$1,805$1,430$1,124$878$304
22 years$2,133$1,685$1,318$1,022$787$256
23 years$2,018$1,576$1,217$931$707$216
24 years$1,914$1,476$1,126$849$635$182
25 years$1,818$1,385$1,042$776$572$154
26 years$1,729$1,302$967$709$515$130
27 years$1,647$1,225$898$649$464$109
28 years$1,571$1,155$835$595$419$92
29 years$1,501$1,089$777$545$378$78
30 years$1,435$1,029$723$501$342$66
31 years$1,374$973$674$460$309$56
32 years$1,316$920$629$422$279$47
33 years$1,263$871$588$388$253$40
34 years$1,212$826$549$357$229$34
35 years$1,164$783$513$329$207$29
36 years$1,120$744$480$303$188$24
37 years$1,077$706$449$279$170$20
38 years$1,037$671$421$257$154$17
39 years$1,000$638$394$237$140$15
40 years$964$607$370$219$127$12
41 years$930$578$347$202$115$10
42 years$898$550$325$186$105$9
43 years$867$524$305$172$95$7
44 years$838$500$286$159$86$6
45 years$810$477$269$147$78$5
46 years$783$455$253$136$71$5
47 years$758$434$237$125$64$4
48 years$734$414$223$116$59$3
49 years$710$396$210$107$53$3
50 years$688$378$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $705,000, adding $4,908 every year, while hoping to spend $42,117 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: 55/33/12 Blend
56$705,000$705,000$705,000$705,000
57$781,973$744,608$733,680$822,319
58$816,922$736,281$713,446$841,915
59$854,024$726,135$691,123$858,230
60$893,455$714,036$666,596$875,009
61$935,405$699,842$639,745$892,307
62$980,086$683,403$610,446$910,181
63$1,027,725$664,561$578,567$928,702
64$1,078,576$643,147$543,971$947,945
65$1,132,913$618,984$506,517$967,998
66$1,191,039$591,883$466,053$988,962
67$1,253,284$561,645$422,426$1,010,949
68$1,320,013$528,059$375,470$1,034,085
69$1,391,623$490,902$325,017$1,058,515
70$1,468,551$449,939$270,888$1,084,400
71$1,551,278$404,921$212,898$1,111,921
72$1,640,331$355,585$150,853$1,141,284
73$1,736,288$301,652$84,549$1,172,717
74$1,839,785$242,828$13,778$1,206,478
75$1,951,521$178,804$0$1,242,855
76$2,072,261$109,251$0$1,290,079
77$2,202,850$33,823$0$1,343,000
78$2,344,215$0$0$1,400,289
79$2,497,374$0$0$1,479,803
80$2,663,448$0$0$1,579,394
81$2,843,669$0$0$1,687,525
82$3,039,392$0$0$1,805,018
83$3,252,107$0$0$1,932,774
84$3,483,453$0$0$2,071,786
85$3,735,236$0$0$2,223,146
86$4,009,439$0$0$2,388,056
87$4,308,247$0$0$2,567,838
88$4,634,063$0$0$2,763,949
89$4,989,534$0$0$2,977,990
90$5,377,570$0$0$3,211,725
91$5,801,378$0$0$3,467,095
92$6,264,487$0$0$3,746,237
93$6,770,780$0$0$4,051,506
94$7,324,536$0$0$4,385,491
95$7,930,464$0$0$4,751,045
96$8,593,749$0$0$5,151,311
97$9,320,103$0$0$5,589,747
98$10,115,813$0$0$6,070,163
99$10,987,804$0$0$6,596,755
100$11,943,705$0$0$7,174,143