Can I retire at age 57 with 712,000?

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 $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%12.3%
1 years$58,796$58,273$57,762$57,263$56,776$56,230
2 years$29,107$28,565$28,040$27,530$27,036$26,486
3 years$19,212$18,668$18,143$17,639$17,153$16,616
4 years$14,265$13,723$13,204$12,708$12,234$11,714
5 years$11,298$10,759$10,247$9,761$9,300$8,799
6 years$9,321$8,785$8,281$7,806$7,359$6,877
7 years$7,909$7,378$6,881$6,418$5,984$5,522
8 years$6,850$6,324$5,836$5,384$4,965$4,522
9 years$6,028$5,506$5,027$4,586$4,181$3,758
10 years$5,370$4,854$4,382$3,953$3,562$3,158
11 years$4,832$4,321$3,858$3,440$3,064$2,678
12 years$4,384$3,878$3,424$3,017$2,655$2,288
13 years$4,005$3,505$3,059$2,664$2,315$1,966
14 years$3,681$3,186$2,749$2,365$2,030$1,698
15 years$3,400$2,910$2,482$2,109$1,787$1,472
16 years$3,154$2,670$2,250$1,888$1,579$1,281
17 years$2,938$2,459$2,047$1,697$1,400$1,118
18 years$2,746$2,272$1,869$1,529$1,245$978
19 years$2,574$2,106$1,711$1,382$1,110$858
20 years$2,420$1,957$1,570$1,251$991$754
21 years$2,280$1,823$1,444$1,136$887$663
22 years$2,154$1,701$1,331$1,033$795$584
23 years$2,038$1,591$1,229$940$714$516
24 years$1,933$1,491$1,137$858$642$455
25 years$1,836$1,399$1,053$783$577$403
26 years$1,746$1,315$976$716$520$356
27 years$1,664$1,238$907$656$469$315
28 years$1,587$1,166$843$601$423$280
29 years$1,516$1,100$784$551$382$248
30 years$1,449$1,039$731$505$345$220
31 years$1,387$982$681$464$312$195
32 years$1,329$929$636$427$282$173
33 years$1,275$880$593$392$255$154
34 years$1,224$834$554$361$231$137
35 years$1,176$791$518$332$209$121
36 years$1,131$751$485$306$190$108
37 years$1,088$713$454$282$172$96
38 years$1,048$678$425$260$156$85
39 years$1,010$645$398$240$141$76
40 years$973$613$373$221$128$67
41 years$939$584$350$204$116$60
42 years$906$556$328$188$106$53
43 years$875$530$308$174$96$47
44 years$846$505$289$160$87$42
45 years$818$481$272$148$79$38
46 years$791$459$255$137$72$33
47 years$765$438$240$126$65$30
48 years$741$418$225$117$59$27
49 years$718$400$212$108$54$24
50 years$695$382$199$100$49$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $712,000, adding $3,074 every year, while hoping to spend $50,838 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: 67/24/9 Blend
56$712,000$712,000$712,000$712,000
57$787,795$750,059$739,023$838,972
58$814,059$732,720$709,689$856,029
59$841,298$712,829$677,668$868,296
60$869,557$690,205$642,818$880,370
61$898,886$664,659$604,986$892,225
62$929,337$635,992$564,018$903,836
63$960,965$603,991$519,748$915,174
64$993,830$568,432$472,005$926,211
65$1,027,994$529,079$420,611$936,919
66$1,063,525$485,680$365,378$947,266
67$1,100,498$437,971$306,111$957,221
68$1,138,989$385,672$242,606$966,754
69$1,179,082$328,487$174,650$975,832
70$1,220,869$266,103$102,021$984,423
71$1,264,446$198,190$24,487$992,493
72$1,309,918$124,400$0$1,000,011
73$1,357,397$44,363$0$1,012,537
74$1,407,006$0$0$1,027,318
75$1,458,877$0$0$1,053,167
76$1,513,151$0$0$1,092,485
77$1,569,984$0$0$1,133,668
78$1,629,543$0$0$1,176,839
79$1,692,008$0$0$1,222,130
80$1,757,576$0$0$1,269,687
81$1,826,462$0$0$1,319,666
82$1,898,896$0$0$1,372,237
83$1,975,133$0$0$1,427,587
84$2,055,445$0$0$1,485,917
85$2,140,133$0$0$1,547,447
86$2,229,523$0$0$1,612,417
87$2,323,970$0$0$1,681,089
88$2,423,863$0$0$1,753,748
89$2,529,624$0$0$1,830,705
90$2,641,716$0$0$1,912,301
91$2,760,645$0$0$1,998,908
92$2,886,964$0$0$2,090,933
93$3,021,275$0$0$2,188,821
94$3,164,242$0$0$2,293,059
95$3,316,587$0$0$2,404,180
96$3,479,104$0$0$2,522,768
97$3,652,660$0$0$2,649,463
98$3,838,208$0$0$2,784,966
99$4,036,791$0$0$2,930,046
100$4,249,552$0$0$3,085,546