Can I retire at age 57 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$75,642$74,969$74,311$73,670$73,043$71,248
2 years$37,447$36,749$36,073$35,418$34,782$32,985
3 years$24,717$24,016$23,342$22,693$22,067$20,324
4 years$18,353$17,654$16,987$16,349$15,739$14,063
5 years$14,535$13,841$13,183$12,557$11,964$10,360
6 years$11,991$11,302$10,653$10,042$9,467$7,936
7 years$10,175$9,492$8,853$8,256$7,699$6,242
8 years$8,813$8,136$7,508$6,926$6,387$5,003
9 years$7,755$7,084$6,467$5,899$5,379$4,067
10 years$6,908$6,244$5,638$5,085$4,583$3,342
11 years$6,216$5,559$4,963$4,426$3,942$2,769
12 years$5,640$4,989$4,405$3,882$3,416$2,309
13 years$5,153$4,509$3,936$3,427$2,979$1,937
14 years$4,735$4,098$3,536$3,042$2,611$1,631
15 years$4,374$3,744$3,193$2,713$2,299$1,379
16 years$4,058$3,435$2,895$2,429$2,032$1,169
17 years$3,780$3,164$2,634$2,183$1,802$994
18 years$3,533$2,923$2,404$1,967$1,602$847
19 years$3,312$2,709$2,201$1,777$1,428$723
20 years$3,113$2,518$2,020$1,610$1,275$618
21 years$2,934$2,345$1,858$1,461$1,141$528
22 years$2,771$2,189$1,713$1,328$1,023$453
23 years$2,622$2,047$1,581$1,210$918$388
24 years$2,486$1,918$1,462$1,103$825$333
25 years$2,362$1,800$1,354$1,008$743$286
26 years$2,247$1,692$1,256$921$669$246
27 years$2,140$1,592$1,166$843$603$211
28 years$2,042$1,500$1,084$773$544$182
29 years$1,950$1,415$1,009$709$491$156
30 years$1,865$1,337$940$650$444$134
31 years$1,785$1,264$876$597$401$116
32 years$1,710$1,196$818$549$363$100
33 years$1,640$1,132$763$505$329$86
34 years$1,575$1,073$713$464$298$74
35 years$1,513$1,018$667$428$270$64
36 years$1,455$966$624$394$244$55
37 years$1,400$918$584$363$221$47
38 years$1,348$872$547$334$201$41
39 years$1,299$829$512$308$182$35
40 years$1,252$789$480$284$165$30
41 years$1,208$751$450$262$150$26
42 years$1,166$715$422$242$136$22
43 years$1,126$681$396$224$123$19
44 years$1,088$650$372$206$112$17
45 years$1,052$619$349$191$102$14
46 years$1,018$591$328$176$92$12
47 years$985$564$308$163$84$11
48 years$953$538$290$150$76$9
49 years$923$514$272$139$69$8
50 years$894$491$256$128$63$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $916,000, adding $4,462 every year, while hoping to spend $22,670 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: 55/17/28 Blend
56$916,000$916,000$916,000$916,000
57$1,014,035$965,487$951,289$1,061,726
58$1,093,345$988,675$959,036$1,118,293
59$1,179,986$1,012,239$966,283$1,177,162
60$1,274,680$1,036,175$972,989$1,240,823
61$1,378,225$1,060,475$979,112$1,309,746
62$1,491,498$1,085,131$984,606$1,384,449
63$1,615,464$1,110,136$989,423$1,465,501
64$1,751,187$1,135,479$993,515$1,553,532
65$1,899,839$1,161,148$996,829$1,649,234
66$2,062,709$1,187,131$999,309$1,753,371
67$2,241,219$1,213,414$1,000,899$1,866,784
68$2,436,932$1,239,979$1,001,538$1,990,402
69$2,651,571$1,266,811$1,001,162$2,125,248
70$2,887,035$1,293,889$999,704$2,272,449
71$3,145,414$1,321,190$997,096$2,433,247
72$3,429,011$1,348,693$993,263$2,609,015
73$3,740,361$1,376,370$988,129$2,801,261
74$4,082,260$1,404,194$981,613$3,011,651
75$4,457,784$1,432,133$973,630$3,242,020
76$4,870,324$1,460,154$964,093$3,494,393
77$5,323,615$1,488,220$952,909$3,770,999
78$5,821,773$1,516,292$939,980$4,074,298
79$6,369,329$1,544,326$925,205$4,407,001
80$6,971,280$1,572,276$908,478$4,772,094
81$7,633,126$1,600,093$889,687$5,172,873
82$8,360,929$1,627,723$868,717$5,612,968
83$9,161,369$1,655,106$845,444$6,096,381
84$10,041,805$1,682,182$819,742$6,627,526
85$11,010,342$1,708,883$791,477$7,211,265
86$12,075,916$1,735,137$760,510$7,852,959
87$13,248,367$1,760,866$726,695$8,558,518
88$14,538,541$1,785,989$689,879$9,334,456
89$15,958,385$1,810,416$649,904$10,187,954
90$17,521,067$1,834,052$606,602$11,126,927
91$19,241,092$1,856,797$559,800$12,160,098
92$21,134,446$1,878,543$509,315$13,297,084
93$23,218,740$1,899,172$454,958$14,548,485
94$25,513,383$1,918,563$396,531$15,925,984
95$28,039,759$1,936,583$333,825$17,442,460
96$30,821,432$1,953,093$266,626$19,112,106
97$33,884,366$1,967,943$194,706$20,950,569
98$37,257,172$1,980,973$117,830$22,975,092
99$40,971,378$1,992,015$35,751$25,204,684
100$45,061,723$2,000,889$0$27,660,293