Can I retire at age 57 with 938,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$77,459$76,769$76,096$75,439$74,797$72,548
2 years$38,346$37,632$36,940$36,269$35,618$33,371
3 years$25,310$24,593$23,903$23,238$22,597$20,423
4 years$18,793$18,078$17,395$16,741$16,117$14,032
5 years$14,884$14,174$13,499$12,859$12,252$10,261
6 years$12,279$11,574$10,909$10,283$9,694$7,801
7 years$10,419$9,720$9,066$8,455$7,884$6,087
8 years$9,025$8,332$7,688$7,092$6,541$4,839
9 years$7,941$7,254$6,622$6,041$5,508$3,900
10 years$7,074$6,394$5,773$5,208$4,693$3,177
11 years$6,365$5,692$5,083$4,532$4,036$2,609
12 years$5,775$5,109$4,511$3,975$3,498$2,156
13 years$5,276$4,617$4,030$3,510$3,050$1,791
14 years$4,849$4,197$3,621$3,115$2,674$1,494
15 years$4,479$3,834$3,269$2,778$2,354$1,251
16 years$4,156$3,518$2,964$2,488$2,081$1,050
17 years$3,871$3,240$2,697$2,235$1,845$883
18 years$3,618$2,993$2,462$2,014$1,640$745
19 years$3,391$2,774$2,254$1,820$1,462$629
20 years$3,188$2,578$2,069$1,649$1,306$532
21 years$3,004$2,401$1,903$1,496$1,169$450
22 years$2,837$2,242$1,754$1,360$1,048$381
23 years$2,685$2,096$1,619$1,239$940$323
24 years$2,546$1,964$1,497$1,130$845$274
25 years$2,418$1,843$1,387$1,032$761$233
26 years$2,300$1,732$1,286$944$685$198
27 years$2,192$1,630$1,194$864$618$168
28 years$2,091$1,536$1,110$791$557$143
29 years$1,997$1,449$1,033$726$503$122
30 years$1,909$1,369$963$666$455$103
31 years$1,828$1,294$897$612$411$88
32 years$1,751$1,224$837$562$372$75
33 years$1,680$1,159$782$517$337$64
34 years$1,613$1,099$730$476$305$54
35 years$1,549$1,042$683$438$276$46
36 years$1,490$989$639$403$250$39
37 years$1,434$940$598$371$227$33
38 years$1,380$893$560$342$205$28
39 years$1,330$849$525$316$186$24
40 years$1,282$808$492$291$169$21
41 years$1,237$769$461$269$153$18
42 years$1,194$732$432$248$139$15
43 years$1,153$698$406$229$126$13
44 years$1,114$665$381$211$115$11
45 years$1,077$634$358$195$104$9
46 years$1,042$605$336$180$94$8
47 years$1,008$577$316$167$86$7
48 years$976$551$297$154$78$6
49 years$945$526$279$142$71$5
50 years$916$503$262$131$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $938,000, adding $4,726 every year, while hoping to spend $54,500 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: 39/40/21 Blend
56$938,000$938,000$938,000$938,000
57$1,038,551$988,837$974,298$1,072,397
58$1,086,495$979,302$948,949$1,087,676
59$1,137,504$967,474$920,925$1,098,674
60$1,191,831$953,182$890,078$1,109,456
61$1,249,756$936,246$856,253$1,120,033
62$1,311,584$916,475$819,291$1,130,421
63$1,377,652$893,668$779,023$1,140,643
64$1,448,325$867,611$735,273$1,150,729
65$1,524,006$838,076$687,857$1,160,718
66$1,605,138$804,825$636,583$1,170,657
67$1,692,204$767,603$581,250$1,180,604
68$1,785,735$726,143$521,650$1,190,631
69$1,886,317$680,160$457,561$1,200,820
70$1,994,588$629,355$388,757$1,211,273
71$2,111,253$573,410$314,997$1,222,106
72$2,237,084$511,991$236,033$1,233,458
73$2,372,930$444,742$151,603$1,245,487
74$2,519,724$371,289$61,437$1,258,379
75$2,678,491$291,237$0$1,272,348
76$2,850,357$204,167$0$1,295,431
77$3,036,561$109,639$0$1,335,313
78$3,238,465$7,186$0$1,378,602
79$3,457,567$0$0$1,425,736
80$3,695,514$0$0$1,522,839
81$3,954,117$0$0$1,631,921
82$4,235,371$0$0$1,750,673
83$4,541,467$0$0$1,880,034
84$4,874,819$0$0$2,021,041
85$5,238,081$0$0$2,174,831
86$5,634,177$0$0$2,342,658
87$6,066,321$0$0$2,525,903
88$6,538,053$0$0$2,726,084
89$7,053,271$0$0$2,944,873
90$7,616,264$0$0$3,184,112
91$8,231,754$0$0$3,445,828
92$8,904,941$0$0$3,732,251
93$9,641,550$0$0$4,045,841
94$10,447,884$0$0$4,389,304
95$11,330,886$0$0$4,765,619
96$12,298,200$0$0$5,178,070
97$13,358,244$0$0$5,630,271
98$14,520,289$0$0$6,126,203
99$15,794,548$0$0$6,670,253
100$17,192,266$0$0$7,267,250