Can I retire at age 57 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$73,743$73,086$72,445$71,820$71,209$69,096
2 years$36,506$35,827$35,168$34,529$33,909$31,797
3 years$24,096$23,413$22,756$22,123$21,513$19,469
4 years$17,892$17,211$16,560$15,938$15,343$13,383
5 years$14,170$13,494$12,852$12,242$11,664$9,792
6 years$11,690$11,019$10,386$9,790$9,229$7,448
7 years$9,919$9,253$8,631$8,049$7,506$5,815
8 years$8,592$7,932$7,320$6,752$6,227$4,626
9 years$7,560$6,906$6,304$5,751$5,244$3,731
10 years$6,735$6,087$5,496$4,958$4,468$3,040
11 years$6,060$5,419$4,839$4,315$3,843$2,498
12 years$5,498$4,864$4,294$3,785$3,330$2,066
13 years$5,023$4,396$3,837$3,341$2,904$1,718
14 years$4,616$3,996$3,447$2,966$2,545$1,434
15 years$4,264$3,650$3,112$2,645$2,241$1,201
16 years$3,956$3,349$2,822$2,368$1,981$1,009
17 years$3,685$3,084$2,568$2,128$1,756$850
18 years$3,444$2,850$2,344$1,918$1,562$717
19 years$3,229$2,641$2,146$1,733$1,392$606
20 years$3,035$2,454$1,969$1,569$1,243$513
21 years$2,860$2,286$1,811$1,424$1,113$434
22 years$2,701$2,134$1,670$1,295$997$368
23 years$2,557$1,996$1,542$1,179$895$313
24 years$2,424$1,870$1,426$1,076$805$265
25 years$2,302$1,755$1,320$982$724$226
26 years$2,190$1,649$1,225$898$652$192
27 years$2,086$1,552$1,137$822$588$163
28 years$1,990$1,463$1,057$753$531$139
29 years$1,901$1,380$984$691$479$118
30 years$1,818$1,303$916$634$433$101
31 years$1,740$1,232$854$582$391$86
32 years$1,667$1,166$797$535$354$73
33 years$1,599$1,104$744$492$320$62
34 years$1,535$1,046$695$453$290$53
35 years$1,475$992$650$417$263$45
36 years$1,418$942$608$384$238$38
37 years$1,365$895$569$354$216$33
38 years$1,314$850$533$326$196$28
39 years$1,266$808$499$301$177$24
40 years$1,221$769$468$277$161$20
41 years$1,178$732$439$256$146$17
42 years$1,137$697$412$236$132$15
43 years$1,098$664$386$218$120$13
44 years$1,061$633$363$201$109$11
45 years$1,026$604$341$186$99$9
46 years$992$576$320$172$90$8
47 years$960$550$300$159$82$7
48 years$929$525$282$147$74$6
49 years$900$501$265$135$67$5
50 years$872$479$250$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $893,000, adding $6,074 every year, while hoping to spend $54,957 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: 59/29/12 Blend
56$893,000$893,000$893,000$893,000
57$990,351$943,022$929,181$1,045,529
58$1,032,893$930,757$901,835$1,071,143
59$1,077,933$916,048$871,730$1,092,363
60$1,125,666$898,719$838,718$1,114,181
61$1,176,309$878,580$802,639$1,136,661
62$1,230,095$855,434$763,330$1,159,873
63$1,287,283$829,068$720,620$1,183,901
64$1,348,152$799,259$674,327$1,208,837
65$1,413,012$765,771$624,266$1,234,785
66$1,482,199$728,353$570,238$1,261,866
67$1,556,082$686,742$512,040$1,290,212
68$1,635,067$640,656$449,458$1,319,976
69$1,719,596$589,801$382,267$1,351,328
70$1,810,157$533,863$310,235$1,384,462
71$1,907,282$472,511$233,117$1,419,592
72$2,011,557$405,397$150,659$1,456,963
73$2,123,625$332,151$62,595$1,496,846
74$2,244,191$252,382$0$1,539,548
75$2,374,030$165,680$0$1,589,429
76$2,513,991$71,608$0$1,651,670
77$2,665,009$0$0$1,718,713
78$2,828,111$0$0$1,800,745
79$3,004,424$0$0$1,914,183
80$3,195,188$0$0$2,036,978
81$3,401,766$0$0$2,170,016
82$3,625,656$0$0$2,314,270
83$3,868,506$0$0$2,470,809
84$4,132,127$0$0$2,640,811
85$4,418,511$0$0$2,825,570
86$4,729,852$0$0$3,026,508
87$5,068,559$0$0$3,245,194
88$5,437,287$0$0$3,483,349
89$5,838,955$0$0$3,742,872
90$6,276,776$0$0$4,025,849
91$6,754,285$0$0$4,334,578
92$7,275,375$0$0$4,671,587
93$7,844,328$0$0$5,039,659
94$8,465,861$0$0$5,441,859
95$9,145,164$0$0$5,881,561
96$9,887,954$0$0$6,362,478
97$10,700,523$0$0$6,888,700
98$11,589,800$0$0$7,464,731
99$12,563,414$0$0$8,095,527
100$13,629,768$0$0$8,786,551