Can I retire at age 57 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$58,714$58,191$57,680$57,182$56,696$56,127
2 years$29,066$28,525$28,000$27,492$26,998$26,425
3 years$19,185$18,641$18,118$17,614$17,129$16,570
4 years$14,245$13,703$13,185$12,690$12,216$11,675
5 years$11,282$10,744$10,232$9,747$9,287$8,765
6 years$9,308$8,773$8,269$7,795$7,348$6,847
7 years$7,898$7,368$6,872$6,409$5,976$5,495
8 years$6,841$6,315$5,828$5,376$4,958$4,497
9 years$6,019$5,499$5,019$4,579$4,175$3,735
10 years$5,362$4,847$4,376$3,947$3,557$3,137
11 years$4,825$4,315$3,853$3,435$3,060$2,659
12 years$4,378$3,873$3,419$3,013$2,651$2,270
13 years$3,999$3,500$3,055$2,660$2,312$1,949
14 years$3,676$3,181$2,745$2,361$2,027$1,682
15 years$3,395$2,906$2,478$2,106$1,784$1,458
16 years$3,150$2,666$2,247$1,886$1,577$1,268
17 years$2,934$2,456$2,044$1,694$1,398$1,106
18 years$2,742$2,269$1,866$1,527$1,243$967
19 years$2,571$2,103$1,709$1,380$1,108$847
20 years$2,416$1,954$1,568$1,250$990$744
21 years$2,277$1,820$1,442$1,134$886$654
22 years$2,151$1,699$1,329$1,031$794$576
23 years$2,035$1,589$1,227$939$713$508
24 years$1,930$1,489$1,135$856$641$448
25 years$1,833$1,397$1,051$782$576$396
26 years$1,744$1,313$975$715$519$350
27 years$1,661$1,236$905$655$468$310
28 years$1,585$1,165$842$600$422$274
29 years$1,514$1,099$783$550$381$243
30 years$1,447$1,038$730$505$345$215
31 years$1,385$981$680$464$312$191
32 years$1,328$928$635$426$282$169
33 years$1,273$879$593$392$255$150
34 years$1,222$833$554$360$231$133
35 years$1,174$790$518$332$209$118
36 years$1,129$750$484$306$190$105
37 years$1,087$712$453$282$172$93
38 years$1,046$677$424$260$156$83
39 years$1,008$644$398$239$141$74
40 years$972$612$373$221$128$65
41 years$938$583$349$204$116$58
42 years$905$555$328$188$105$52
43 years$874$529$308$173$96$46
44 years$845$504$289$160$87$41
45 years$817$481$271$148$79$36
46 years$790$459$255$137$72$32
47 years$764$438$239$126$65$29
48 years$740$418$225$117$59$26
49 years$717$399$211$108$54$23
50 years$694$381$199$100$49$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $711,000, adding $3,846 every year, while hoping to spend $46,749 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: 66/17/17 Blend
56$711,000$711,000$711,000$711,000
57$787,489$749,806$738,786$835,948
58$818,072$736,806$713,794$855,851
59$850,208$721,602$686,399$871,827
60$884,006$704,037$656,470$888,150
61$919,584$683,944$623,871$904,851
62$957,071$661,147$588,460$921,970
63$996,609$635,459$550,090$939,548
64$1,038,349$606,683$508,604$957,635
65$1,082,460$574,610$463,841$976,286
66$1,129,123$539,018$415,632$995,567
67$1,178,537$499,674$363,800$1,015,547
68$1,230,921$456,331$308,160$1,036,311
69$1,286,512$408,727$248,520$1,057,949
70$1,345,568$356,588$184,678$1,080,566
71$1,408,375$299,620$116,424$1,104,281
72$1,475,244$237,515$43,539$1,129,226
73$1,546,515$169,949$0$1,155,551
74$1,622,560$96,577$0$1,189,634
75$1,703,788$17,037$0$1,234,286
76$1,790,647$0$0$1,281,857
77$1,883,627$0$0$1,345,550
78$1,983,267$0$0$1,417,250
79$2,090,157$0$0$1,494,198
80$2,204,944$0$0$1,576,866
81$2,328,340$0$0$1,665,769
82$2,461,124$0$0$1,761,473
83$2,604,154$0$0$1,864,603
84$2,758,371$0$0$1,975,840
85$2,924,809$0$0$2,095,937
86$3,104,604$0$0$2,225,718
87$3,299,004$0$0$2,366,091
88$3,509,381$0$0$2,518,053
89$3,737,244$0$0$2,682,699
90$3,984,252$0$0$2,861,234
91$4,252,226$0$0$3,054,985
92$4,543,174$0$0$3,265,408
93$4,859,301$0$0$3,494,108
94$5,203,034$0$0$3,742,846
95$5,577,043$0$0$4,013,565
96$5,984,264$0$0$4,308,399
97$6,427,930$0$0$4,629,698
98$6,911,597$0$0$4,980,047
99$7,439,182$0$0$5,362,293
100$8,014,992$0$0$5,779,568