Can I retire at age 57 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$58,796$58,273$57,762$57,263$56,776$56,347
2 years$29,107$28,565$28,040$27,530$27,036$26,604
3 years$19,212$18,668$18,143$17,639$17,153$16,731
4 years$14,265$13,723$13,204$12,708$12,234$11,824
5 years$11,298$10,759$10,247$9,761$9,300$8,905
6 years$9,321$8,785$8,281$7,806$7,359$6,979
7 years$7,909$7,378$6,881$6,418$5,984$5,620
8 years$6,850$6,324$5,836$5,384$4,965$4,615
9 years$6,028$5,506$5,027$4,586$4,181$3,846
10 years$5,370$4,854$4,382$3,953$3,562$3,242
11 years$4,832$4,321$3,858$3,440$3,064$2,758
12 years$4,384$3,878$3,424$3,017$2,655$2,363
13 years$4,005$3,505$3,059$2,664$2,315$2,038
14 years$3,681$3,186$2,749$2,365$2,030$1,765
15 years$3,400$2,910$2,482$2,109$1,787$1,536
16 years$3,154$2,670$2,250$1,888$1,579$1,341
17 years$2,938$2,459$2,047$1,697$1,400$1,175
18 years$2,746$2,272$1,869$1,529$1,245$1,031
19 years$2,574$2,106$1,711$1,382$1,110$908
20 years$2,420$1,957$1,570$1,251$991$800
21 years$2,280$1,823$1,444$1,136$887$707
22 years$2,154$1,701$1,331$1,033$795$625
23 years$2,038$1,591$1,229$940$714$554
24 years$1,933$1,491$1,137$858$642$491
25 years$1,836$1,399$1,053$783$577$436
26 years$1,746$1,315$976$716$520$387
27 years$1,664$1,238$907$656$469$344
28 years$1,587$1,166$843$601$423$306
29 years$1,516$1,100$784$551$382$273
30 years$1,449$1,039$731$505$345$243
31 years$1,387$982$681$464$312$216
32 years$1,329$929$636$427$282$193
33 years$1,275$880$593$392$255$172
34 years$1,224$834$554$361$231$153
35 years$1,176$791$518$332$209$137
36 years$1,131$751$485$306$190$122
37 years$1,088$713$454$282$172$109
38 years$1,048$678$425$260$156$97
39 years$1,010$645$398$240$141$87
40 years$973$613$373$221$128$78
41 years$939$584$350$204$116$69
42 years$906$556$328$188$106$62
43 years$875$530$308$174$96$55
44 years$846$505$289$160$87$49
45 years$818$481$272$148$79$44
46 years$791$459$255$137$72$40
47 years$765$438$240$126$65$35
48 years$741$418$225$117$59$32
49 years$718$400$212$108$54$28
50 years$695$382$199$100$49$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $712,000, adding $4,070 every year, while hoping to spend $37,148 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: 88/5/7 Blend
56$712,000$712,000$712,000$712,000
57$788,822$751,086$740,050$857,505
58$829,757$748,364$725,317$900,127
59$873,622$744,264$708,845$941,377
60$920,677$738,678$690,536$985,513
61$971,207$731,494$670,290$1,032,798
62$1,025,524$722,592$647,999$1,083,523
63$1,083,972$711,844$623,552$1,138,004
64$1,146,929$699,115$596,832$1,196,593
65$1,214,807$684,263$567,717$1,259,675
66$1,288,061$667,136$536,080$1,327,674
67$1,367,192$647,575$501,787$1,401,056
68$1,452,748$625,409$464,700$1,480,335
69$1,545,334$600,459$424,673$1,566,077
70$1,645,612$572,535$381,553$1,658,904
71$1,754,312$541,437$335,182$1,759,501
72$1,872,235$506,951$285,395$1,868,625
73$2,000,265$468,854$232,018$1,987,105
74$2,139,372$426,907$174,870$2,115,858
75$2,290,623$380,860$113,763$2,255,892
76$2,455,191$330,447$48,499$2,408,318
77$2,634,370$275,389$0$2,574,359
78$2,829,581$215,387$0$2,756,943
79$3,042,388$150,131$0$2,959,944
80$3,274,513$79,289$0$3,181,387
81$3,527,852$2,513$0$3,423,093
82$3,804,490$0$0$3,687,065
83$4,106,725$0$0$3,979,942
84$4,437,084$0$0$4,300,230
85$4,798,352$0$0$4,650,488
86$5,193,592$0$0$5,033,689
87$5,626,180$0$0$5,453,106
88$6,099,831$0$0$5,912,341
89$6,618,637$0$0$6,415,364
90$7,187,106$0$0$6,966,543
91$7,810,199$0$0$7,570,693
92$8,493,384$0$0$8,233,113
93$9,242,679$0$0$8,959,641
94$10,064,716$0$0$9,756,708
95$10,966,798$0$0$10,631,396
96$11,956,970$0$0$11,591,507
97$13,044,094$0$0$12,645,634
98$14,237,931$0$0$13,803,243
99$15,549,234$0$0$15,074,762
100$16,989,850$0$0$16,471,680