Can I retire at age 57 with 889,000?

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 $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%18.2%
1 years$73,413$72,759$72,121$71,498$70,890$68,539
2 years$36,343$35,666$35,010$34,374$33,757$31,411
3 years$23,988$23,308$22,654$22,024$21,417$19,150
4 years$17,812$17,134$16,486$15,867$15,275$13,104
5 years$14,107$13,433$12,794$12,187$11,612$9,542
6 years$11,638$10,969$10,339$9,746$9,188$7,222
7 years$9,875$9,212$8,592$8,013$7,472$5,610
8 years$8,553$7,896$7,287$6,722$6,199$4,439
9 years$7,526$6,875$6,276$5,726$5,220$3,560
10 years$6,705$6,060$5,472$4,935$4,448$2,885
11 years$6,033$5,395$4,817$4,295$3,825$2,357
12 years$5,474$4,842$4,275$3,768$3,315$1,938
13 years$5,001$4,376$3,820$3,326$2,891$1,601
14 years$4,596$3,978$3,432$2,953$2,534$1,328
15 years$4,245$3,634$3,099$2,633$2,231$1,106
16 years$3,939$3,334$2,809$2,358$1,972$923
17 years$3,668$3,070$2,556$2,118$1,748$772
18 years$3,429$2,837$2,334$1,909$1,555$647
19 years$3,214$2,629$2,136$1,725$1,386$543
20 years$3,021$2,443$1,961$1,562$1,238$456
21 years$2,847$2,276$1,803$1,418$1,108$384
22 years$2,689$2,124$1,662$1,289$993$323
23 years$2,545$1,987$1,535$1,174$891$272
24 years$2,413$1,862$1,419$1,071$801$230
25 years$2,292$1,747$1,315$978$721$194
26 years$2,180$1,642$1,219$894$649$164
27 years$2,077$1,545$1,132$819$585$138
28 years$1,981$1,456$1,052$750$528$117
29 years$1,892$1,374$979$688$477$99
30 years$1,810$1,297$912$631$431$83
31 years$1,732$1,226$850$580$390$70
32 years$1,660$1,160$793$533$352$59
33 years$1,592$1,099$741$490$319$50
34 years$1,528$1,042$692$451$289$43
35 years$1,468$988$647$415$262$36
36 years$1,412$938$605$382$237$30
37 years$1,359$891$567$352$215$26
38 years$1,308$846$531$325$195$22
39 years$1,261$805$497$299$177$18
40 years$1,215$766$466$276$160$16
41 years$1,173$729$437$255$145$13
42 years$1,132$694$410$235$132$11
43 years$1,093$661$385$217$120$9
44 years$1,056$630$361$200$109$8
45 years$1,021$601$339$185$99$7
46 years$988$573$318$171$90$6
47 years$956$547$299$158$81$5
48 years$925$522$281$146$74$4
49 years$896$499$264$135$67$3
50 years$868$477$248$125$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $889,000, adding $3,738 every year, while hoping to spend $43,938 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: 55/31/14 Blend
56$889,000$889,000$889,000$889,000
57$983,534$936,417$922,637$1,033,837
58$1,037,104$935,551$906,796$1,067,577
59$1,094,667$933,171$888,951$1,099,222
60$1,156,582$929,155$868,990$1,132,670
61$1,223,245$923,376$846,793$1,168,102
62$1,295,091$915,697$822,236$1,205,721
63$1,372,599$905,974$795,189$1,245,750
64$1,456,293$894,056$765,517$1,288,439
65$1,546,750$879,780$733,077$1,334,063
66$1,644,604$862,974$697,721$1,382,931
67$1,750,552$843,458$659,292$1,435,382
68$1,865,359$821,039$617,630$1,491,797
69$1,989,869$795,513$572,564$1,552,593
70$2,125,008$766,665$523,917$1,618,238
71$2,271,794$734,267$471,503$1,689,248
72$2,431,348$698,078$415,130$1,766,197
73$2,604,904$657,842$354,595$1,849,718
74$2,793,818$613,289$289,687$1,940,517
75$2,999,581$564,135$220,186$2,039,374
76$3,223,838$510,077$145,862$2,147,153
77$3,468,395$450,797$66,474$2,264,810
78$3,735,243$385,957$0$2,393,408
79$4,026,571$315,202$0$2,536,844
80$4,344,790$238,155$0$2,704,468
81$4,692,553$154,420$0$2,887,817
82$5,072,783$63,576$0$3,088,527
83$5,488,697$0$0$3,308,402
84$5,943,836$0$0$3,561,315
85$6,442,102$0$0$3,862,014
86$6,987,788$0$0$4,191,415
87$7,585,625$0$0$4,552,381
88$8,240,821$0$0$4,948,070
89$8,959,113$0$0$5,381,956
90$9,746,820$0$0$5,857,868
91$10,610,900$0$0$6,380,021
92$11,559,017$0$0$6,953,062
93$12,599,616$0$0$7,582,103
94$13,741,996$0$0$8,272,782
95$14,996,401$0$0$9,031,305
96$16,374,115$0$0$9,864,511
97$17,887,572$0$0$10,779,932
98$19,550,464$0$0$11,785,866
99$21,377,880$0$0$12,891,458
100$23,386,441$0$0$14,106,777