Can I retire at age 57 with 707,000?

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 $707,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$58,383$57,863$57,356$56,861$56,377$54,836
2 years$28,903$28,364$27,843$27,337$26,846$25,305
3 years$19,077$18,536$18,016$17,515$17,032$15,539
4 years$14,165$13,626$13,111$12,619$12,148$10,714
5 years$11,219$10,683$10,175$9,692$9,234$7,864
6 years$9,255$8,724$8,223$7,751$7,307$6,001
7 years$7,853$7,326$6,833$6,373$5,942$4,702
8 years$6,802$6,280$5,795$5,346$4,930$3,753
9 years$5,985$5,468$4,991$4,553$4,152$3,038
10 years$5,332$4,819$4,351$3,925$3,537$2,485
11 years$4,798$4,291$3,831$3,416$3,042$2,050
12 years$4,353$3,851$3,400$2,996$2,636$1,702
13 years$3,977$3,480$3,038$2,645$2,299$1,421
14 years$3,655$3,163$2,729$2,348$2,015$1,191
15 years$3,376$2,890$2,464$2,094$1,774$1,002
16 years$3,132$2,651$2,234$1,875$1,568$845
17 years$2,917$2,442$2,033$1,685$1,390$715
18 years$2,727$2,256$1,856$1,518$1,236$606
19 years$2,556$2,091$1,699$1,372$1,102$514
20 years$2,403$1,943$1,559$1,243$984$437
21 years$2,264$1,810$1,434$1,128$881$372
22 years$2,139$1,690$1,322$1,025$790$317
23 years$2,024$1,580$1,220$934$709$270
24 years$1,919$1,481$1,129$852$637$231
25 years$1,823$1,389$1,045$778$573$197
26 years$1,734$1,306$970$711$516$168
27 years$1,652$1,229$900$651$466$144
28 years$1,576$1,158$837$596$420$123
29 years$1,505$1,092$779$547$379$105
30 years$1,439$1,032$725$502$343$90
31 years$1,378$975$676$461$310$77
32 years$1,320$923$631$424$280$66
33 years$1,266$874$589$390$254$56
34 years$1,215$828$551$358$230$48
35 years$1,168$786$515$330$208$41
36 years$1,123$746$481$304$188$35
37 years$1,080$708$451$280$171$30
38 years$1,040$673$422$258$155$26
39 years$1,003$640$395$238$140$22
40 years$967$609$371$219$127$19
41 years$932$580$348$203$116$16
42 years$900$552$326$187$105$14
43 years$869$526$306$173$95$12
44 years$840$501$287$159$86$10
45 years$812$478$270$147$78$9
46 years$785$456$253$136$71$8
47 years$760$435$238$126$65$6
48 years$736$415$224$116$59$6
49 years$713$397$210$107$53$5
50 years$690$379$198$99$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $707,000, adding $3,454 every year, while hoping to spend $37,298 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: 35/43/22 Blend
56$707,000$707,000$707,000$707,000
57$782,677$745,206$734,247$804,736
58$822,825$742,036$719,160$818,135
59$865,818$737,461$702,317$828,904
60$911,908$731,372$683,620$839,766
61$961,368$723,655$662,967$850,751
62$1,014,501$714,188$640,250$861,897
63$1,071,638$702,842$615,357$873,248
64$1,133,144$689,480$588,170$884,856
65$1,199,418$673,957$558,567$896,781
66$1,270,899$656,121$526,419$909,096
67$1,348,068$635,808$491,591$921,882
68$1,431,456$612,848$453,945$935,234
69$1,521,645$587,058$413,333$949,263
70$1,619,275$558,246$369,601$964,092
71$1,725,050$526,209$322,592$979,866
72$1,839,742$490,731$272,136$996,748
73$1,964,204$451,585$218,061$1,014,923
74$2,099,370$408,530$160,183$1,034,604
75$2,246,270$361,312$98,313$1,056,029
76$2,406,036$309,662$32,253$1,079,469
77$2,579,913$253,298$0$1,105,229
78$2,769,273$191,917$0$1,142,631
79$2,975,622$125,205$0$1,191,749
80$3,200,621$52,826$0$1,245,492
81$3,446,098$0$0$1,304,405
82$3,714,061$0$0$1,381,196
83$4,006,726$0$0$1,492,460
84$4,326,528$0$0$1,614,140
85$4,676,150$0$0$1,747,269
86$5,058,545$0$0$1,892,985
87$5,476,965$0$0$2,052,540
88$5,934,992$0$0$2,227,313
89$6,436,568$0$0$2,418,824
90$6,986,035$0$0$2,628,745
91$7,588,175$0$0$2,858,918
92$8,248,254$0$0$3,111,374
93$8,972,074$0$0$3,388,347
94$9,766,021$0$0$3,692,299
95$10,637,134$0$0$4,025,942
96$11,593,162$0$0$4,392,262
97$12,642,642$0$0$4,794,551
98$13,794,979$0$0$5,236,434
99$15,060,532$0$0$5,721,903
100$16,450,714$0$0$6,255,357