Can I retire at age 57 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$59,457$58,927$58,411$57,906$57,414$56,626
2 years$29,434$28,886$28,355$27,840$27,340$26,548
3 years$19,428$18,877$18,347$17,837$17,346$16,573
4 years$14,426$13,877$13,352$12,851$12,371$11,625
5 years$11,425$10,880$10,362$9,870$9,404$8,686
6 years$9,425$8,884$8,374$7,894$7,441$6,752
7 years$7,998$7,461$6,959$6,490$6,052$5,392
8 years$6,927$6,395$5,902$5,444$5,020$4,390
9 years$6,095$5,568$5,083$4,637$4,228$3,627
10 years$5,430$4,908$4,431$3,997$3,602$3,030
11 years$4,886$4,369$3,901$3,479$3,098$2,554
12 years$4,433$3,922$3,462$3,051$2,685$2,167
13 years$4,050$3,544$3,093$2,694$2,341$1,851
14 years$3,722$3,221$2,779$2,391$2,052$1,588
15 years$3,438$2,943$2,509$2,133$1,807$1,367
16 years$3,190$2,700$2,275$1,910$1,597$1,182
17 years$2,971$2,487$2,070$1,716$1,416$1,024
18 years$2,777$2,298$1,890$1,546$1,259$890
19 years$2,603$2,130$1,730$1,397$1,122$774
20 years$2,447$1,979$1,588$1,265$1,002$675
21 years$2,306$1,843$1,461$1,148$897$590
22 years$2,178$1,721$1,346$1,044$804$516
23 years$2,061$1,609$1,243$951$722$452
24 years$1,954$1,508$1,149$867$649$396
25 years$1,856$1,415$1,065$792$584$347
26 years$1,766$1,330$987$724$526$305
27 years$1,682$1,252$917$663$474$268
28 years$1,605$1,179$852$607$428$235
29 years$1,533$1,113$793$557$386$207
30 years$1,466$1,051$739$511$349$182
31 years$1,403$993$689$469$316$160
32 years$1,344$940$643$431$285$141
33 years$1,289$890$600$397$258$124
34 years$1,238$844$561$365$234$109
35 years$1,189$800$524$336$212$96
36 years$1,144$759$490$309$192$85
37 years$1,100$721$459$285$174$75
38 years$1,060$685$430$263$158$66
39 years$1,021$652$403$242$143$58
40 years$984$620$377$224$130$51
41 years$950$590$354$206$118$45
42 years$917$562$332$190$107$40
43 years$885$536$312$176$97$35
44 years$855$511$292$162$88$31
45 years$827$487$275$150$80$27
46 years$800$464$258$138$73$24
47 years$774$443$242$128$66$21
48 years$749$423$228$118$60$19
49 years$726$404$214$109$54$17
50 years$703$386$201$101$49$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $720,000, adding $2,889 every year, while hoping to spend $30,846 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: 66/23/11 Blend
56$720,000$720,000$720,000$720,000
57$796,420$758,260$747,100$846,886
58$844,835$762,595$739,308$885,205
59$897,154$766,108$730,221$923,158
60$953,744$768,727$719,763$963,847
61$1,015,006$770,375$707,855$1,007,538
62$1,081,382$770,969$694,414$1,054,523
63$1,153,357$770,421$679,351$1,105,125
64$1,231,468$768,639$662,577$1,159,698
65$1,316,300$765,525$643,996$1,218,637
66$1,408,500$760,974$623,508$1,282,374
67$1,508,780$754,874$601,008$1,351,390
68$1,617,922$747,109$576,388$1,426,211
69$1,736,786$737,554$549,534$1,507,421
70$1,866,321$726,077$520,325$1,595,664
71$2,007,568$712,537$488,639$1,691,650
72$2,161,675$696,786$454,343$1,796,163
73$2,329,905$678,668$417,303$1,910,070
74$2,513,648$658,016$377,376$2,034,323
75$2,714,435$634,653$334,413$2,169,979
76$2,933,951$608,395$288,259$2,318,199
77$3,174,051$579,043$238,752$2,480,267
78$3,436,777$546,389$185,723$2,657,599
79$3,724,379$510,213$128,996$2,851,758
80$4,039,333$470,281$68,385$3,064,469
81$4,384,368$426,347$3,698$3,297,634
82$4,762,486$378,150$0$3,553,352
83$5,176,996$325,416$0$3,841,607
84$5,631,541$267,853$0$4,158,248
85$6,130,134$205,154$0$4,505,685
86$6,677,195$136,994$0$4,887,054
87$7,277,593$63,031$0$5,305,812
88$7,936,690$0$0$5,765,774
89$8,660,394$0$0$6,275,471
90$9,455,211$0$0$6,852,821
91$10,328,311$0$0$7,487,083
92$11,287,590$0$0$8,184,001
93$12,341,748$0$0$8,949,902
94$13,500,369$0$0$9,791,756
95$14,774,012$0$0$10,717,241
96$16,174,309$0$0$11,734,817
97$17,714,077$0$0$12,853,805
98$19,407,437$0$0$14,084,474
99$21,269,944$0$0$15,438,138
100$23,318,740$0$0$16,927,263