Can I retire at age 57 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$73,413$72,759$72,121$71,498$70,890$69,176
2 years$36,343$35,666$35,010$34,374$33,757$32,041
3 years$23,988$23,308$22,654$22,024$21,417$19,752
4 years$17,812$17,134$16,486$15,867$15,275$13,674
5 years$14,107$13,433$12,794$12,187$11,612$10,079
6 years$11,638$10,969$10,339$9,746$9,188$7,725
7 years$9,875$9,212$8,592$8,013$7,472$6,079
8 years$8,553$7,896$7,287$6,722$6,199$4,876
9 years$7,526$6,875$6,276$5,726$5,220$3,966
10 years$6,705$6,060$5,472$4,935$4,448$3,260
11 years$6,033$5,395$4,817$4,295$3,825$2,703
12 years$5,474$4,842$4,275$3,768$3,315$2,256
13 years$5,001$4,376$3,820$3,326$2,891$1,893
14 years$4,596$3,978$3,432$2,953$2,534$1,596
15 years$4,245$3,634$3,099$2,633$2,231$1,350
16 years$3,939$3,334$2,809$2,358$1,972$1,146
17 years$3,668$3,070$2,556$2,118$1,748$975
18 years$3,429$2,837$2,334$1,909$1,555$831
19 years$3,214$2,629$2,136$1,725$1,386$709
20 years$3,021$2,443$1,961$1,562$1,238$607
21 years$2,847$2,276$1,803$1,418$1,108$520
22 years$2,689$2,124$1,662$1,289$993$445
23 years$2,545$1,987$1,535$1,174$891$382
24 years$2,413$1,862$1,419$1,071$801$328
25 years$2,292$1,747$1,315$978$721$282
26 years$2,180$1,642$1,219$894$649$242
27 years$2,077$1,545$1,132$819$585$209
28 years$1,981$1,456$1,052$750$528$179
29 years$1,892$1,374$979$688$477$155
30 years$1,810$1,297$912$631$431$133
31 years$1,732$1,226$850$580$390$115
32 years$1,660$1,160$793$533$352$99
33 years$1,592$1,099$741$490$319$85
34 years$1,528$1,042$692$451$289$73
35 years$1,468$988$647$415$262$63
36 years$1,412$938$605$382$237$55
37 years$1,359$891$567$352$215$47
38 years$1,308$846$531$325$195$41
39 years$1,261$805$497$299$177$35
40 years$1,215$766$466$276$160$30
41 years$1,173$729$437$255$145$26
42 years$1,132$694$410$235$132$22
43 years$1,093$661$385$217$120$19
44 years$1,056$630$361$200$109$17
45 years$1,021$601$339$185$99$14
46 years$988$573$318$171$90$12
47 years$956$547$299$158$81$11
48 years$925$522$281$146$74$9
49 years$896$499$264$135$67$8
50 years$868$477$248$125$61$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $889,000, adding $5,229 every year, while hoping to spend $44,105 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: 52/29/19 Blend
56$889,000$889,000$889,000$889,000
57$985,072$937,955$924,175$1,030,899
58$1,038,622$936,987$908,208$1,062,007
59$1,096,155$934,494$890,227$1,090,796
60$1,158,033$930,354$870,119$1,121,159
61$1,224,649$924,438$847,765$1,153,259
62$1,296,438$916,610$823,040$1,187,280
63$1,373,876$906,725$795,813$1,223,424
64$1,457,486$894,629$765,947$1,261,919
65$1,547,844$880,160$733,301$1,303,017
66$1,645,581$863,146$697,724$1,346,997
67$1,751,394$843,403$659,061$1,394,174
68$1,866,045$820,739$617,149$1,444,892
69$1,990,375$794,948$571,816$1,499,539
70$2,125,307$765,815$522,886$1,558,543
71$2,271,858$733,109$470,172$1,622,380
72$2,431,145$696,589$413,480$1,691,578
73$2,604,397$655,997$352,607$1,766,725
74$2,792,966$611,062$287,341$1,848,470
75$2,998,342$561,498$217,460$1,937,538
76$3,222,162$507,000$142,734$2,034,727
77$3,466,228$447,248$62,921$2,140,928
78$3,732,524$381,905$0$2,257,123
79$4,023,234$310,610$0$2,388,916
80$4,340,761$232,987$0$2,546,910
81$4,687,751$148,636$0$2,719,730
82$5,067,117$57,134$0$2,908,916
83$5,482,067$0$0$3,116,171
84$5,936,132$0$0$3,356,765
85$6,433,201$0$0$3,640,192
86$6,977,556$0$0$3,950,671
87$7,573,913$0$0$4,290,903
88$8,227,464$0$0$4,663,863
89$8,943,929$0$0$5,072,826
90$9,729,607$0$0$5,521,400
91$10,591,437$0$0$6,013,560
92$11,537,060$0$0$6,553,683
93$12,574,893$0$0$7,146,592
94$13,714,208$0$0$7,797,596
95$14,965,218$0$0$8,512,547
96$16,339,175$0$0$9,297,891
97$17,848,472$0$0$10,160,728
98$19,506,762$0$0$11,108,879
99$21,329,086$0$0$12,150,961
100$23,332,016$0$0$13,296,469