Can I retire at age 57 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$59,705$59,173$58,654$58,148$57,653$55,942
2 years$29,557$29,006$28,473$27,956$27,454$25,744
3 years$19,509$18,956$18,424$17,911$17,418$15,763
4 years$14,486$13,935$13,408$12,904$12,423$10,835
5 years$11,473$10,925$10,405$9,912$9,443$7,928
6 years$9,465$8,921$8,409$7,926$7,472$6,030
7 years$8,031$7,492$6,988$6,517$6,077$4,708
8 years$6,956$6,422$5,926$5,467$5,041$3,745
9 years$6,121$5,591$5,104$4,656$4,246$3,020
10 years$5,453$4,929$4,450$4,014$3,617$2,462
11 years$4,906$4,388$3,918$3,493$3,111$2,023
12 years$4,452$3,938$3,477$3,064$2,696$1,673
13 years$4,067$3,559$3,106$2,705$2,351$1,391
14 years$3,738$3,235$2,791$2,401$2,061$1,161
15 years$3,452$2,955$2,520$2,142$1,815$973
16 years$3,203$2,711$2,285$1,918$1,604$817
17 years$2,983$2,497$2,079$1,723$1,422$688
18 years$2,788$2,307$1,898$1,553$1,264$580
19 years$2,614$2,138$1,737$1,403$1,127$490
20 years$2,457$1,987$1,594$1,271$1,007$415
21 years$2,316$1,851$1,467$1,153$901$352
22 years$2,187$1,728$1,352$1,049$807$298
23 years$2,070$1,616$1,248$955$725$253
24 years$1,963$1,514$1,154$871$651$215
25 years$1,864$1,421$1,069$795$586$183
26 years$1,773$1,335$992$727$528$155
27 years$1,689$1,257$921$666$476$132
28 years$1,611$1,184$856$610$430$112
29 years$1,539$1,117$796$559$388$96
30 years$1,472$1,055$742$513$350$81
31 years$1,409$997$692$471$317$69
32 years$1,350$944$645$433$287$59
33 years$1,295$894$603$398$259$50
34 years$1,243$847$563$367$235$43
35 years$1,194$803$526$337$213$36
36 years$1,148$763$492$311$193$31
37 years$1,105$724$461$286$175$26
38 years$1,064$688$432$264$158$23
39 years$1,025$655$404$243$144$19
40 years$988$623$379$224$130$16
41 years$954$593$355$207$118$14
42 years$920$565$333$191$107$12
43 years$889$538$313$176$97$10
44 years$859$513$294$163$88$9
45 years$830$489$276$150$80$7
46 years$803$466$259$139$73$6
47 years$777$445$243$128$66$5
48 years$752$425$229$119$60$5
49 years$729$406$215$110$55$4
50 years$706$388$202$101$50$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $723,000, adding $6,153 every year, while hoping to spend $25,611 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: 71/5/24 Blend
56$723,000$723,000$723,000$723,000
57$803,093$764,774$753,567$854,857
58$857,758$774,998$751,562$900,453
59$917,141$784,864$748,631$946,777
60$981,696$794,329$744,716$996,885
61$1,051,922$803,344$739,757$1,051,149
62$1,128,369$811,859$733,690$1,109,983
63$1,211,642$819,819$726,448$1,173,839
64$1,302,406$827,167$717,961$1,243,218
65$1,401,395$833,841$708,156$1,318,672
66$1,509,413$839,776$696,955$1,400,810
67$1,627,350$844,901$684,279$1,490,302
68$1,756,181$849,143$670,044$1,587,887
69$1,896,983$852,422$654,162$1,694,383
70$2,050,939$854,655$636,540$1,810,687
71$2,219,353$855,751$617,083$1,937,793
72$2,403,661$855,617$595,688$2,076,791
73$2,605,443$854,150$572,253$2,228,890
74$2,826,439$851,246$546,665$2,395,416
75$3,068,568$846,789$518,810$2,577,837
76$3,333,940$840,659$488,568$2,777,766
77$3,624,879$832,729$455,812$2,996,987
78$3,943,947$822,862$420,412$3,237,462
79$4,293,964$810,917$382,230$3,501,357
80$4,678,036$796,739$341,122$3,791,059
81$5,099,585$780,169$296,940$4,109,200
82$5,562,380$761,035$249,525$4,458,682
83$6,070,573$739,156$198,715$4,842,702
84$6,628,739$714,342$144,338$5,264,787
85$7,241,915$686,389$86,218$5,728,825
86$7,915,651$655,084$24,168$6,239,102
87$8,656,063$620,198$0$6,800,341
88$9,469,888$581,494$0$7,428,519
89$10,364,545$538,716$0$8,125,914
90$11,348,213$491,598$0$8,892,714
91$12,429,900$439,855$0$9,735,950
92$13,619,529$383,187$0$10,663,374
93$14,928,037$321,279$0$11,683,522
94$16,367,471$253,796$0$12,805,805
95$17,951,106$180,385$0$14,040,589
96$19,693,567$100,672$0$15,399,299
97$21,610,970$14,264$0$16,894,520
98$23,721,071$0$0$18,540,125
99$26,043,434$0$0$20,355,758
100$28,599,617$0$0$22,355,101