Can I retire at age 57 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$58,301$57,782$57,275$56,780$56,297$55,003
2 years$28,862$28,324$27,803$27,298$26,808$25,512
3 years$19,050$18,510$17,991$17,490$17,008$15,750
4 years$14,145$13,607$13,093$12,601$12,130$10,920
5 years$11,203$10,668$10,160$9,679$9,221$8,062
6 years$9,242$8,711$8,211$7,740$7,297$6,189
7 years$7,842$7,316$6,823$6,364$5,934$4,879
8 years$6,793$6,271$5,787$5,338$4,923$3,920
9 years$5,977$5,460$4,984$4,547$4,146$3,194
10 years$5,324$4,813$4,345$3,920$3,532$2,631
11 years$4,791$4,284$3,826$3,411$3,038$2,185
12 years$4,347$3,845$3,395$2,992$2,633$1,828
13 years$3,971$3,475$3,033$2,642$2,296$1,537
14 years$3,650$3,159$2,725$2,345$2,012$1,298
15 years$3,371$2,886$2,461$2,091$1,772$1,100
16 years$3,128$2,648$2,231$1,872$1,566$936
17 years$2,913$2,438$2,030$1,682$1,389$798
18 years$2,723$2,253$1,853$1,516$1,235$681
19 years$2,553$2,088$1,697$1,370$1,100$583
20 years$2,399$1,940$1,557$1,241$983$500
21 years$2,261$1,807$1,432$1,126$880$429
22 years$2,136$1,687$1,320$1,024$788$369
23 years$2,021$1,578$1,219$932$708$317
24 years$1,916$1,478$1,127$850$636$273
25 years$1,820$1,387$1,044$777$572$235
26 years$1,731$1,304$968$710$516$203
27 years$1,650$1,227$899$650$465$175
28 years$1,574$1,156$836$596$419$151
29 years$1,503$1,091$778$546$379$130
30 years$1,437$1,030$724$501$342$112
31 years$1,376$974$675$460$309$97
32 years$1,318$922$630$423$280$84
33 years$1,264$873$588$389$253$72
34 years$1,214$827$550$358$229$63
35 years$1,166$785$514$330$208$54
36 years$1,121$745$481$303$188$47
37 years$1,079$707$450$280$171$40
38 years$1,039$672$421$258$155$35
39 years$1,001$639$395$238$140$30
40 years$965$608$370$219$127$26
41 years$931$579$347$202$115$23
42 years$899$551$326$187$105$20
43 years$868$525$305$172$95$17
44 years$839$501$287$159$86$15
45 years$811$477$269$147$78$13
46 years$784$455$253$136$71$11
47 years$759$435$238$125$65$9
48 years$735$415$223$116$59$8
49 years$712$396$210$107$53$7
50 years$689$378$197$99$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $706,000, adding $5,096 every year, while hoping to spend $36,943 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: 57/16/27 Blend
56$706,000$706,000$706,000$706,000
57$783,269$745,851$734,908$821,864
58$823,855$743,090$720,220$846,139
59$867,343$738,956$703,802$868,273
60$913,989$733,343$685,557$891,636
61$964,076$726,137$665,383$916,358
62$1,017,914$717,219$643,175$942,583
63$1,075,840$706,462$618,821$970,473
64$1,138,230$693,732$592,205$1,000,208
65$1,205,491$678,888$563,206$1,031,986
66$1,278,075$661,777$531,697$1,066,030
67$1,356,476$642,241$497,546$1,102,587
68$1,441,237$620,111$460,614$1,141,932
69$1,532,955$595,208$420,757$1,184,368
70$1,632,287$567,344$377,822$1,230,236
71$1,739,954$536,317$331,653$1,279,910
72$1,856,750$501,918$282,085$1,333,807
73$1,983,548$463,921$228,944$1,392,392
74$2,121,307$422,091$172,051$1,456,176
75$2,271,085$376,178$111,219$1,525,728
76$2,434,042$325,917$46,251$1,601,681
77$2,611,456$271,029$0$1,684,732
78$2,804,735$211,220$0$1,782,306
79$3,015,427$146,178$0$1,903,263
80$3,245,233$75,574$0$2,035,279
81$3,496,031$0$0$2,179,473
82$3,769,883$0$0$2,337,245
83$4,069,061$0$0$2,524,202
84$4,396,067$0$0$2,728,608
85$4,753,655$0$0$2,952,192
86$5,144,856$0$0$3,196,857
87$5,573,009$0$0$3,464,700
88$6,041,790$0$0$3,758,028
89$6,555,246$0$0$4,079,383
90$7,117,838$0$0$4,431,565
91$7,734,473$0$0$4,817,656
92$8,410,559$0$0$5,241,052
93$9,152,052$0$0$5,705,491
94$9,965,511$0$0$6,215,094
95$10,858,161$0$0$6,774,397
96$11,837,961$0$0$7,388,398
97$12,913,677$0$0$8,062,602
98$14,094,966$0$0$8,803,074
99$15,392,465$0$0$9,616,493
100$16,817,893$0$0$10,510,219