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%14.5%
1 years$73,413$72,759$72,121$71,498$70,890$69,573
2 years$36,343$35,666$35,010$34,374$33,757$32,435
3 years$23,988$23,308$22,654$22,024$21,417$20,131
4 years$17,812$17,134$16,486$15,867$15,275$14,035
5 years$14,107$13,433$12,794$12,187$11,612$10,421
6 years$11,638$10,969$10,339$9,746$9,188$8,049
7 years$9,875$9,212$8,592$8,013$7,472$6,384
8 years$8,553$7,896$7,287$6,722$6,199$5,162
9 years$7,526$6,875$6,276$5,726$5,220$4,234
10 years$6,705$6,060$5,472$4,935$4,448$3,511
11 years$6,033$5,395$4,817$4,295$3,825$2,937
12 years$5,474$4,842$4,275$3,768$3,315$2,474
13 years$5,001$4,376$3,820$3,326$2,891$2,096
14 years$4,596$3,978$3,432$2,953$2,534$1,783
15 years$4,245$3,634$3,099$2,633$2,231$1,523
16 years$3,939$3,334$2,809$2,358$1,972$1,305
17 years$3,668$3,070$2,556$2,118$1,748$1,122
18 years$3,429$2,837$2,334$1,909$1,555$966
19 years$3,214$2,629$2,136$1,725$1,386$834
20 years$3,021$2,443$1,961$1,562$1,238$721
21 years$2,847$2,276$1,803$1,418$1,108$624
22 years$2,689$2,124$1,662$1,289$993$540
23 years$2,545$1,987$1,535$1,174$891$469
24 years$2,413$1,862$1,419$1,071$801$407
25 years$2,292$1,747$1,315$978$721$354
26 years$2,180$1,642$1,219$894$649$308
27 years$2,077$1,545$1,132$819$585$268
28 years$1,981$1,456$1,052$750$528$233
29 years$1,892$1,374$979$688$477$203
30 years$1,810$1,297$912$631$431$177
31 years$1,732$1,226$850$580$390$154
32 years$1,660$1,160$793$533$352$134
33 years$1,592$1,099$741$490$319$117
34 years$1,528$1,042$692$451$289$102
35 years$1,468$988$647$415$262$89
36 years$1,412$938$605$382$237$78
37 years$1,359$891$567$352$215$68
38 years$1,308$846$531$325$195$59
39 years$1,261$805$497$299$177$52
40 years$1,215$766$466$276$160$45
41 years$1,173$729$437$255$145$39
42 years$1,132$694$410$235$132$34
43 years$1,093$661$385$217$120$30
44 years$1,056$630$361$200$109$26
45 years$1,021$601$339$185$99$23
46 years$988$573$318$171$90$20
47 years$956$547$299$158$81$17
48 years$925$522$281$146$74$15
49 years$896$499$264$135$67$13
50 years$868$477$248$125$61$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $889,000, adding $6,086 every year, while hoping to spend $59,584 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: 44/43/13 Blend
56$889,000$889,000$889,000$889,000
57$985,956$938,839$925,059$1,025,397
58$1,023,126$921,445$892,652$1,036,119
59$1,062,091$901,202$857,162$1,041,253
60$1,102,971$877,907$818,423$1,045,507
61$1,145,895$851,346$776,261$1,048,824
62$1,191,006$821,291$730,496$1,051,146
63$1,238,458$787,503$680,936$1,052,414
64$1,288,417$749,728$627,385$1,052,568
65$1,341,067$707,696$569,633$1,051,548
66$1,396,606$661,123$507,466$1,049,292
67$1,455,251$609,709$440,657$1,045,740
68$1,517,238$553,136$368,970$1,040,832
69$1,582,824$491,068$292,159$1,034,508
70$1,652,290$423,149$209,965$1,026,709
71$1,725,945$349,004$122,120$1,017,380
72$1,804,125$268,238$28,344$1,006,467
73$1,887,195$180,432$0$993,920
74$1,975,559$85,143$0$989,645
75$2,069,656$0$0$988,493
76$2,169,967$0$0$995,102
77$2,277,021$0$0$1,045,212
78$2,391,393$0$0$1,098,815
79$2,513,719$0$0$1,156,215
80$2,644,691$0$0$1,217,748
81$2,785,071$0$0$1,283,780
82$2,935,695$0$0$1,354,715
83$3,097,479$0$0$1,430,996
84$3,271,429$0$0$1,513,107
85$3,458,648$0$0$1,601,582
86$3,660,350$0$0$1,697,006
87$3,877,867$0$0$1,800,024
88$4,112,662$0$0$1,911,343
89$4,366,342$0$0$2,031,739
90$4,640,674$0$0$2,162,067
91$4,937,601$0$0$2,303,265
92$5,259,257$0$0$2,456,367
93$5,607,990$0$0$2,622,508
94$5,986,380$0$0$2,802,936
95$6,397,267$0$0$2,999,025
96$6,843,773$0$0$3,212,286
97$7,329,333$0$0$3,444,382
98$7,857,727$0$0$3,697,141
99$8,433,112$0$0$3,972,577
100$9,060,064$0$0$4,272,905