Can I retire at age 57 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$58,549$58,027$57,518$57,022$56,537$55,215
2 years$28,984$28,445$27,921$27,414$26,922$25,598
3 years$19,131$18,589$18,067$17,565$17,081$15,795
4 years$14,205$13,665$13,148$12,654$12,182$10,946
5 years$11,251$10,713$10,204$9,720$9,261$8,077
6 years$9,281$8,748$8,246$7,773$7,328$6,197
7 years$7,875$7,347$6,852$6,391$5,959$4,883
8 years$6,821$6,298$5,811$5,361$4,944$3,920
9 years$6,002$5,483$5,005$4,566$4,163$3,192
10 years$5,347$4,833$4,364$3,936$3,547$2,628
11 years$4,811$4,303$3,842$3,426$3,051$2,182
12 years$4,365$3,862$3,410$3,005$2,644$1,823
13 years$3,988$3,490$3,046$2,653$2,305$1,532
14 years$3,665$3,172$2,737$2,355$2,021$1,293
15 years$3,386$2,898$2,471$2,100$1,779$1,096
16 years$3,141$2,659$2,240$1,880$1,573$931
17 years$2,926$2,449$2,039$1,690$1,394$793
18 years$2,734$2,263$1,861$1,523$1,240$677
19 years$2,563$2,097$1,704$1,376$1,105$579
20 years$2,410$1,949$1,564$1,246$987$496
21 years$2,271$1,815$1,438$1,131$883$425
22 years$2,145$1,694$1,326$1,028$792$365
23 years$2,030$1,585$1,224$936$711$314
24 years$1,925$1,485$1,132$854$639$270
25 years$1,828$1,393$1,048$780$575$232
26 years$1,739$1,310$972$713$518$200
27 years$1,657$1,232$903$653$467$172
28 years$1,580$1,161$839$598$421$149
29 years$1,509$1,096$781$548$380$128
30 years$1,443$1,035$728$503$344$111
31 years$1,382$978$678$462$311$95
32 years$1,324$925$633$425$281$82
33 years$1,270$876$591$391$254$71
34 years$1,219$831$552$359$230$61
35 years$1,171$788$516$331$209$53
36 years$1,126$748$483$305$189$46
37 years$1,084$710$452$281$171$39
38 years$1,043$675$423$259$155$34
39 years$1,005$642$397$239$141$29
40 years$969$611$372$220$128$25
41 years$935$581$348$203$116$22
42 years$903$554$327$187$105$19
43 years$872$527$307$173$95$16
44 years$842$503$288$160$87$14
45 years$814$479$270$148$79$12
46 years$788$457$254$136$71$11
47 years$762$436$239$126$65$9
48 years$738$417$224$116$59$8
49 years$715$398$211$108$53$7
50 years$692$380$198$99$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $709,000, adding $2,742 every year, while hoping to spend $41,564 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: 49/34/17 Blend
56$709,000$709,000$709,000$709,000
57$784,146$746,569$735,580$818,728
58$819,906$738,927$715,998$835,275
59$857,919$729,518$694,367$848,746
60$898,373$718,211$670,575$862,481
61$941,471$704,867$644,503$876,520
62$987,436$689,341$616,029$890,911
63$1,036,513$671,477$585,024$905,706
64$1,088,969$651,110$551,354$920,970
65$1,145,097$628,068$514,878$936,772
66$1,205,220$602,166$475,449$953,197
67$1,269,689$573,210$432,913$970,337
68$1,338,893$540,993$387,112$988,302
69$1,413,257$505,297$337,876$1,007,212
70$1,493,245$465,894$285,032$1,027,208
71$1,579,372$422,538$228,396$1,048,447
72$1,672,199$374,973$167,778$1,071,108
73$1,772,343$322,927$102,979$1,095,392
74$1,880,484$266,113$33,791$1,121,527
75$1,997,368$204,226$0$1,149,769
76$2,123,813$136,947$0$1,187,672
77$2,260,721$63,937$0$1,235,308
78$2,409,083$0$0$1,286,949
79$2,569,987$0$0$1,348,722
80$2,744,632$0$0$1,441,797
81$2,934,334$0$0$1,542,965
82$3,140,543$0$0$1,653,006
83$3,364,853$0$0$1,772,780
84$3,609,018$0$0$1,903,232
85$3,874,967$0$0$2,045,404
86$4,164,825$0$0$2,200,441
87$4,480,928$0$0$2,369,604
88$4,825,850$0$0$2,554,279
89$5,202,422$0$0$2,755,996
90$5,613,761$0$0$2,976,434
91$6,063,297$0$0$3,217,446
92$6,554,811$0$0$3,481,070
93$7,092,459$0$0$3,769,550
94$7,680,823$0$0$4,085,358
95$8,324,946$0$0$4,431,214
96$9,030,381$0$0$4,810,116
97$9,803,243$0$0$5,225,363
98$10,650,267$0$0$5,680,591
99$11,578,872$0$0$6,179,804
100$12,597,226$0$0$6,727,409