Can I retire at age 57 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$61,274$60,728$60,195$59,676$59,168$56,978
2 years$30,333$29,769$29,221$28,690$28,175$25,994
3 years$20,021$19,454$18,908$18,382$17,876$15,771
4 years$14,866$14,301$13,760$13,243$12,749$10,737
5 years$11,774$11,212$10,678$10,172$9,692$7,778
6 years$9,713$9,155$8,630$8,135$7,669$5,855
7 years$8,242$7,689$7,171$6,688$6,237$4,522
8 years$7,139$6,591$6,082$5,610$5,174$3,557
9 years$6,281$5,738$5,238$4,779$4,357$2,835
10 years$5,596$5,058$4,567$4,119$3,713$2,283
11 years$5,035$4,503$4,021$3,585$3,193$1,853
12 years$4,569$4,042$3,568$3,145$2,767$1,513
13 years$4,174$3,652$3,188$2,776$2,413$1,242
14 years$3,836$3,320$2,864$2,464$2,115$1,023
15 years$3,543$3,033$2,586$2,198$1,862$846
16 years$3,287$2,783$2,345$1,968$1,646$701
17 years$3,062$2,563$2,134$1,768$1,459$582
18 years$2,862$2,368$1,948$1,593$1,298$484
19 years$2,683$2,195$1,783$1,440$1,157$403
20 years$2,522$2,039$1,636$1,304$1,033$336
21 years$2,376$1,900$1,505$1,184$924$281
22 years$2,245$1,773$1,387$1,076$829$235
23 years$2,124$1,658$1,281$980$744$196
24 years$2,014$1,554$1,185$894$669$164
25 years$1,913$1,458$1,097$816$602$137
26 years$1,820$1,370$1,018$746$542$115
27 years$1,734$1,290$945$683$489$96
28 years$1,654$1,215$878$626$441$81
29 years$1,580$1,147$817$574$398$68
30 years$1,510$1,083$761$527$360$57
31 years$1,446$1,024$710$484$325$47
32 years$1,385$969$662$445$294$40
33 years$1,329$917$618$409$266$33
34 years$1,276$869$578$376$241$28
35 years$1,226$825$540$346$218$23
36 years$1,178$783$505$319$198$20
37 years$1,134$743$473$294$179$16
38 years$1,092$706$443$271$163$14
39 years$1,052$672$415$250$147$12
40 years$1,014$639$389$230$134$10
41 years$979$608$365$213$121$8
42 years$945$579$342$196$110$7
43 years$912$552$321$181$100$6
44 years$882$526$301$167$91$5
45 years$852$502$283$154$82$4
46 years$824$479$266$143$75$3
47 years$798$457$250$132$68$3
48 years$772$436$235$122$62$2
49 years$748$416$221$113$56$2
50 years$724$398$207$104$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $742,000, adding $6,860 every year, while hoping to spend $23,686 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: 59/33/8 Blend
56$742,000$742,000$742,000$742,000
57$824,760$785,434$773,933$871,566
58$883,684$798,719$774,658$917,086
59$947,824$811,860$774,614$963,397
60$1,017,688$824,827$773,749$1,013,303
61$1,093,833$837,584$772,010$1,067,150
62$1,176,873$850,096$769,342$1,125,321
63$1,267,485$862,321$765,686$1,188,236
64$1,366,413$874,219$760,981$1,256,360
65$1,474,475$885,743$755,161$1,330,203
66$1,592,572$896,846$748,160$1,410,330
67$1,721,699$907,476$739,908$1,497,364
68$1,862,947$917,577$730,329$1,591,988
69$2,017,519$927,090$719,347$1,694,958
70$2,186,741$935,953$706,881$1,807,109
71$2,372,073$944,098$692,845$1,929,358
72$2,575,120$951,454$677,151$2,062,718
73$2,797,652$957,945$659,705$2,208,305
74$3,041,618$963,491$640,411$2,367,352
75$3,309,165$968,004$619,167$2,541,214
76$3,602,657$971,393$595,866$2,731,390
77$3,924,698$973,561$570,397$2,939,529
78$4,278,156$974,404$542,644$3,167,450
79$4,666,190$973,812$512,485$3,417,161
80$5,092,282$971,669$479,794$3,690,872
81$5,560,264$967,850$444,436$3,991,023
82$6,074,360$962,224$406,274$4,320,304
83$6,639,223$954,651$365,162$4,681,678
84$7,259,978$944,984$320,949$5,078,414
85$7,942,272$933,064$273,478$5,514,118
86$8,692,326$918,727$222,581$5,992,761
87$9,516,993$901,795$168,088$6,518,726
88$10,423,826$882,082$109,818$7,096,843
89$11,421,142$859,390$47,584$7,732,437
90$12,518,109$833,510$0$8,431,378
91$13,724,824$804,220$0$9,201,747
92$15,052,415$771,286$0$10,053,511
93$16,513,142$734,459$0$10,990,490
94$18,120,512$693,478$0$12,021,375
95$19,889,410$648,063$0$13,155,747
96$21,836,234$597,923$0$14,404,166
97$23,979,054$542,745$0$15,778,275
98$26,337,781$482,204$0$17,290,905
99$28,934,354$415,950$0$18,956,200
100$31,792,945$343,619$0$20,789,750