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%13.9%
1 years$58,796$58,273$57,762$57,263$56,776$55,858
2 years$29,107$28,565$28,040$27,530$27,036$26,114
3 years$19,212$18,668$18,143$17,639$17,153$16,255
4 years$14,265$13,723$13,204$12,708$12,234$11,367
5 years$11,298$10,759$10,247$9,761$9,300$8,467
6 years$9,321$8,785$8,281$7,806$7,359$6,561
7 years$7,909$7,378$6,881$6,418$5,984$5,222
8 years$6,850$6,324$5,836$5,384$4,965$4,237
9 years$6,028$5,506$5,027$4,586$4,181$3,487
10 years$5,370$4,854$4,382$3,953$3,562$2,903
11 years$4,832$4,321$3,858$3,440$3,064$2,437
12 years$4,384$3,878$3,424$3,017$2,655$2,061
13 years$4,005$3,505$3,059$2,664$2,315$1,753
14 years$3,681$3,186$2,749$2,365$2,030$1,497
15 years$3,400$2,910$2,482$2,109$1,787$1,285
16 years$3,154$2,670$2,250$1,888$1,579$1,105
17 years$2,938$2,459$2,047$1,697$1,400$954
18 years$2,746$2,272$1,869$1,529$1,245$825
19 years$2,574$2,106$1,711$1,382$1,110$715
20 years$2,420$1,957$1,570$1,251$991$621
21 years$2,280$1,823$1,444$1,136$887$540
22 years$2,154$1,701$1,331$1,033$795$470
23 years$2,038$1,591$1,229$940$714$410
24 years$1,933$1,491$1,137$858$642$357
25 years$1,836$1,399$1,053$783$577$312
26 years$1,746$1,315$976$716$520$273
27 years$1,664$1,238$907$656$469$238
28 years$1,587$1,166$843$601$423$208
29 years$1,516$1,100$784$551$382$182
30 years$1,449$1,039$731$505$345$160
31 years$1,387$982$681$464$312$140
32 years$1,329$929$636$427$282$123
33 years$1,275$880$593$392$255$107
34 years$1,224$834$554$361$231$94
35 years$1,176$791$518$332$209$82
36 years$1,131$751$485$306$190$72
37 years$1,088$713$454$282$172$63
38 years$1,048$678$425$260$156$56
39 years$1,010$645$398$240$141$49
40 years$973$613$373$221$128$43
41 years$939$584$350$204$116$38
42 years$906$556$328$188$106$33
43 years$875$530$308$174$96$29
44 years$846$505$289$160$87$25
45 years$818$481$272$148$79$22
46 years$791$459$255$137$72$20
47 years$765$438$240$126$65$17
48 years$741$418$225$117$59$15
49 years$718$400$212$108$54$13
50 years$695$382$199$100$49$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $712,000, adding $6,127 every year, while hoping to spend $32,888 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: 38/44/18 Blend
56$712,000$712,000$712,000$712,000
57$790,944$753,208$742,172$816,513
58$836,628$755,123$732,042$837,384
59$885,869$756,029$720,471$856,343
60$938,996$755,842$707,375$876,144
61$996,369$754,474$692,667$896,879
62$1,058,384$751,829$676,257$918,655
63$1,125,477$747,806$658,049$941,590
64$1,198,126$742,299$637,945$965,816
65$1,276,858$735,195$615,839$991,483
66$1,362,251$726,373$591,623$1,018,756
67$1,454,941$715,706$565,183$1,047,822
68$1,555,628$703,059$536,400$1,078,891
69$1,665,083$688,289$505,150$1,112,196
70$1,784,151$671,246$471,302$1,147,996
71$1,913,766$651,767$434,722$1,186,584
72$2,054,951$629,685$395,266$1,228,284
73$2,208,836$604,819$352,787$1,273,458
74$2,376,661$576,980$307,130$1,322,510
75$2,559,794$545,966$258,133$1,375,890
76$2,759,740$511,564$205,627$1,434,097
77$2,978,153$473,551$149,435$1,497,689
78$3,216,858$431,688$89,374$1,567,285
79$3,477,861$385,724$25,252$1,643,575
80$3,763,372$335,394$0$1,727,324
81$4,075,825$280,417$0$1,827,675
82$4,417,898$220,496$0$1,942,995
83$4,792,542$155,319$0$2,069,521
84$5,203,007$84,555$0$2,208,458
85$5,652,870$7,855$0$2,361,146
86$6,146,072$0$0$2,529,063
87$6,686,955$0$0$2,750,233
88$7,280,298$0$0$2,997,126
89$7,931,367$0$0$3,268,143
90$8,645,962$0$0$3,565,712
91$9,430,472$0$0$3,892,505
92$10,291,935$0$0$4,251,468
93$11,238,103$0$0$4,645,846
94$12,277,517$0$0$5,079,214
95$13,419,584$0$0$5,555,509
96$14,674,669$0$0$6,079,070
97$16,054,191$0$0$6,654,677
98$17,570,730$0$0$7,287,595
99$19,238,145$0$0$7,983,627
100$21,071,704$0$0$8,749,163