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%15.6%
1 years$73,743$73,086$72,445$71,820$71,209$69,572
2 years$36,506$35,827$35,168$34,529$33,909$32,269
3 years$24,096$23,413$22,756$22,123$21,513$19,921
4 years$17,892$17,211$16,560$15,938$15,343$13,812
5 years$14,170$13,494$12,852$12,242$11,664$10,197
6 years$11,690$11,019$10,386$9,790$9,229$7,828
7 years$9,919$9,253$8,631$8,049$7,506$6,171
8 years$8,592$7,932$7,320$6,752$6,227$4,958
9 years$7,560$6,906$6,304$5,751$5,244$4,040
10 years$6,735$6,087$5,496$4,958$4,468$3,328
11 years$6,060$5,419$4,839$4,315$3,843$2,764
12 years$5,498$4,864$4,294$3,785$3,330$2,312
13 years$5,023$4,396$3,837$3,341$2,904$1,944
14 years$4,616$3,996$3,447$2,966$2,545$1,642
15 years$4,264$3,650$3,112$2,645$2,241$1,392
16 years$3,956$3,349$2,822$2,368$1,981$1,184
17 years$3,685$3,084$2,568$2,128$1,756$1,009
18 years$3,444$2,850$2,344$1,918$1,562$862
19 years$3,229$2,641$2,146$1,733$1,392$738
20 years$3,035$2,454$1,969$1,569$1,243$632
21 years$2,860$2,286$1,811$1,424$1,113$543
22 years$2,701$2,134$1,670$1,295$997$466
23 years$2,557$1,996$1,542$1,179$895$401
24 years$2,424$1,870$1,426$1,076$805$345
25 years$2,302$1,755$1,320$982$724$297
26 years$2,190$1,649$1,225$898$652$256
27 years$2,086$1,552$1,137$822$588$221
28 years$1,990$1,463$1,057$753$531$191
29 years$1,901$1,380$984$691$479$165
30 years$1,818$1,303$916$634$433$142
31 years$1,740$1,232$854$582$391$123
32 years$1,667$1,166$797$535$354$106
33 years$1,599$1,104$744$492$320$92
34 years$1,535$1,046$695$453$290$79
35 years$1,475$992$650$417$263$68
36 years$1,418$942$608$384$238$59
37 years$1,365$895$569$354$216$51
38 years$1,314$850$533$326$196$44
39 years$1,266$808$499$301$177$38
40 years$1,221$769$468$277$161$33
41 years$1,178$732$439$256$146$29
42 years$1,137$697$412$236$132$25
43 years$1,098$664$386$218$120$21
44 years$1,061$633$363$201$109$18
45 years$1,026$604$341$186$99$16
46 years$992$576$320$172$90$14
47 years$960$550$300$159$82$12
48 years$929$525$282$147$74$10
49 years$900$501$265$135$67$9
50 years$872$479$250$125$61$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $893,000, adding $3,146 every year, while hoping to spend $41,632 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: 75/7/18 Blend
56$893,000$893,000$893,000$893,000
57$987,331$940,002$926,161$1,057,068
58$1,043,743$941,766$912,891$1,105,440
59$1,104,513$942,221$897,781$1,153,009
60$1,170,043$941,259$880,726$1,204,050
61$1,240,772$938,766$861,615$1,258,897
62$1,317,184$934,618$840,333$1,317,919
63$1,399,810$928,688$816,757$1,381,524
64$1,489,235$920,838$790,763$1,450,162
65$1,586,100$910,923$762,217$1,524,327
66$1,691,113$898,788$730,981$1,604,567
67$1,805,048$884,270$696,911$1,691,484
68$1,928,760$867,197$659,854$1,785,743
69$2,063,187$847,384$619,654$1,888,078
70$2,209,364$824,637$576,144$1,999,297
71$2,368,427$798,752$529,152$2,120,294
72$2,541,625$769,510$478,498$2,252,051
73$2,730,336$736,681$423,992$2,395,656
74$2,936,074$700,021$365,439$2,552,304
75$3,160,505$659,274$302,633$2,723,318
76$3,405,463$614,165$235,359$2,910,152
77$3,672,970$564,408$163,392$3,114,414
78$3,965,246$509,698$86,499$3,337,875
79$4,284,740$449,712$4,436$3,582,489
80$4,634,146$384,111$0$3,850,410
81$5,016,431$312,534$0$4,159,984
82$5,434,862$234,603$0$4,499,809
83$5,893,035$149,916$0$4,871,977
84$6,394,913$58,050$0$5,279,730
85$6,944,856$0$0$5,726,639
86$7,547,670$0$0$6,219,835
87$8,208,646$0$0$6,765,554
88$8,933,612$0$0$7,364,143
89$9,728,986$0$0$8,020,906
90$10,601,839$0$0$8,741,686
91$11,559,959$0$0$9,532,919
92$12,611,923$0$0$10,401,694
93$13,767,183$0$0$11,355,821
94$15,036,148$0$0$12,403,904
95$16,430,286$0$0$13,555,420
96$17,962,231$0$0$14,820,809
97$19,645,899$0$0$16,211,574
98$21,496,624$0$0$17,740,387
99$23,531,299$0$0$19,421,209
100$25,768,534$0$0$21,269,421