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%15.5%
1 years$73,413$72,759$72,121$71,498$70,890$69,289
2 years$36,343$35,666$35,010$34,374$33,757$32,153
3 years$23,988$23,308$22,654$22,024$21,417$19,859
4 years$17,812$17,134$16,486$15,867$15,275$13,776
5 years$14,107$13,433$12,794$12,187$11,612$10,175
6 years$11,638$10,969$10,339$9,746$9,188$7,816
7 years$9,875$9,212$8,592$8,013$7,472$6,165
8 years$8,553$7,896$7,287$6,722$6,199$4,956
9 years$7,526$6,875$6,276$5,726$5,220$4,041
10 years$6,705$6,060$5,472$4,935$4,448$3,330
11 years$6,033$5,395$4,817$4,295$3,825$2,768
12 years$5,474$4,842$4,275$3,768$3,315$2,317
13 years$5,001$4,376$3,820$3,326$2,891$1,949
14 years$4,596$3,978$3,432$2,953$2,534$1,648
15 years$4,245$3,634$3,099$2,633$2,231$1,398
16 years$3,939$3,334$2,809$2,358$1,972$1,189
17 years$3,668$3,070$2,556$2,118$1,748$1,015
18 years$3,429$2,837$2,334$1,909$1,555$867
19 years$3,214$2,629$2,136$1,725$1,386$743
20 years$3,021$2,443$1,961$1,562$1,238$637
21 years$2,847$2,276$1,803$1,418$1,108$547
22 years$2,689$2,124$1,662$1,289$993$471
23 years$2,545$1,987$1,535$1,174$891$405
24 years$2,413$1,862$1,419$1,071$801$349
25 years$2,292$1,747$1,315$978$721$301
26 years$2,180$1,642$1,219$894$649$260
27 years$2,077$1,545$1,132$819$585$224
28 years$1,981$1,456$1,052$750$528$193
29 years$1,892$1,374$979$688$477$167
30 years$1,810$1,297$912$631$431$144
31 years$1,732$1,226$850$580$390$125
32 years$1,660$1,160$793$533$352$108
33 years$1,592$1,099$741$490$319$93
34 years$1,528$1,042$692$451$289$81
35 years$1,468$988$647$415$262$70
36 years$1,412$938$605$382$237$60
37 years$1,359$891$567$352$215$52
38 years$1,308$846$531$325$195$45
39 years$1,261$805$497$299$177$39
40 years$1,215$766$466$276$160$34
41 years$1,173$729$437$255$145$29
42 years$1,132$694$410$235$132$25
43 years$1,093$661$385$217$120$22
44 years$1,056$630$361$200$109$19
45 years$1,021$601$339$185$99$16
46 years$988$573$318$171$90$14
47 years$956$547$299$158$81$12
48 years$925$522$281$146$74$11
49 years$896$499$264$135$67$9
50 years$868$477$248$125$61$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $889,000, adding $6,658 every year, while hoping to spend $45,417 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: 47/37/16 Blend
56$889,000$889,000$889,000$889,000
57$986,546$939,429$925,649$1,028,167
58$1,038,850$937,137$908,335$1,055,447
59$1,094,967$933,212$888,919$1,079,887
60$1,155,238$927,523$867,282$1,105,430
61$1,220,037$919,937$843,301$1,132,198
62$1,289,775$910,308$816,845$1,160,325
63$1,364,903$898,484$787,781$1,189,965
64$1,445,917$884,303$755,965$1,221,287
65$1,533,360$867,594$721,249$1,254,482
66$1,627,831$848,174$683,480$1,289,765
67$1,729,988$825,853$642,494$1,327,374
68$1,840,552$800,425$598,123$1,367,577
69$1,960,319$771,675$550,190$1,410,672
70$2,090,160$739,376$498,510$1,456,993
71$2,231,036$703,286$442,891$1,506,912
72$2,384,004$663,149$383,130$1,560,842
73$2,550,225$618,696$319,017$1,619,247
74$2,730,976$569,640$250,332$1,682,641
75$2,927,664$515,681$176,847$1,751,597
76$3,141,835$456,499$98,321$1,826,754
77$3,375,192$391,756$14,503$1,908,820
78$3,629,606$321,098$0$1,998,584
79$3,907,141$244,146$0$2,109,719
80$4,210,064$160,504$0$2,233,877
81$4,540,875$69,753$0$2,369,711
82$4,902,321$0$0$2,518,471
83$5,297,431$0$0$2,693,170
84$5,729,536$0$0$2,915,381
85$6,202,307$0$0$3,158,605
86$6,719,784$0$0$3,424,932
87$7,286,416$0$0$3,716,665
88$7,907,103$0$0$4,036,339
89$8,587,241$0$0$4,386,749
90$9,332,771$0$0$4,770,970
91$10,150,238$0$0$5,192,389
92$11,046,852$0$0$5,654,739
93$12,030,550$0$0$6,162,130
94$13,110,079$0$0$6,719,088
95$14,295,071$0$0$7,330,602
96$15,596,136$0$0$8,002,164
97$17,024,963$0$0$8,739,826
98$18,594,429$0$0$9,550,256
99$20,318,717$0$0$10,440,796
100$22,213,454$0$0$11,419,539