Can I retire at age 57 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$77,624$76,933$76,258$75,600$74,957$72,557
2 years$38,428$37,712$37,019$36,346$35,694$33,299
3 years$25,364$24,645$23,953$23,287$22,646$20,330
4 years$18,834$18,117$17,432$16,777$16,151$13,932
5 years$14,916$14,204$13,528$12,886$12,278$10,162
6 years$12,305$11,599$10,933$10,305$9,715$7,704
7 years$10,441$9,740$9,085$8,473$7,901$5,994
8 years$9,044$8,349$7,705$7,108$6,555$4,751
9 years$7,958$7,270$6,636$6,054$5,520$3,818
10 years$7,089$6,408$5,786$5,219$4,703$3,100
11 years$6,379$5,704$5,094$4,542$4,045$2,537
12 years$5,788$5,120$4,520$3,984$3,505$2,090
13 years$5,288$4,627$4,039$3,517$3,057$1,731
14 years$4,859$4,206$3,629$3,122$2,679$1,439
15 years$4,489$3,842$3,276$2,784$2,359$1,200
16 years$4,165$3,525$2,970$2,493$2,085$1,004
17 years$3,879$3,246$2,703$2,240$1,849$842
18 years$3,625$3,000$2,467$2,019$1,644$707
19 years$3,399$2,780$2,259$1,824$1,465$595
20 years$3,195$2,584$2,073$1,652$1,309$501
21 years$3,011$2,406$1,907$1,499$1,171$422
22 years$2,843$2,246$1,757$1,363$1,050$356
23 years$2,691$2,101$1,623$1,242$942$301
24 years$2,552$1,968$1,501$1,132$847$254
25 years$2,423$1,847$1,390$1,034$762$215
26 years$2,305$1,736$1,289$946$687$182
27 years$2,196$1,634$1,197$865$619$154
28 years$2,095$1,540$1,113$793$559$130
29 years$2,001$1,452$1,036$727$504$110
30 years$1,913$1,372$965$667$456$94
31 years$1,832$1,297$899$613$412$79
32 years$1,755$1,227$839$563$373$67
33 years$1,683$1,162$783$518$337$57
34 years$1,616$1,101$732$477$305$48
35 years$1,553$1,045$684$439$277$41
36 years$1,493$991$640$404$251$35
37 years$1,437$942$599$372$227$29
38 years$1,383$895$561$343$206$25
39 years$1,333$851$526$316$187$21
40 years$1,285$810$493$292$169$18
41 years$1,240$771$462$269$154$15
42 years$1,197$734$433$248$139$13
43 years$1,156$699$407$229$127$11
44 years$1,117$667$382$212$115$9
45 years$1,080$636$358$196$104$8
46 years$1,044$606$337$181$95$7
47 years$1,011$579$316$167$86$6
48 years$978$552$297$154$78$5
49 years$947$528$279$143$71$4
50 years$918$504$263$132$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $940,000, adding $5,143 every year, while hoping to spend $22,064 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: 64/23/13 Blend
56$940,000$940,000$940,000$940,000
57$1,041,185$991,365$976,795$1,104,322
58$1,123,910$1,016,466$986,042$1,172,293
59$1,214,333$1,042,057$994,859$1,243,486
60$1,313,217$1,068,140$1,003,208$1,320,703
61$1,421,400$1,094,714$1,011,051$1,404,531
62$1,539,806$1,121,778$1,018,344$1,495,616
63$1,669,453$1,149,332$1,025,045$1,594,669
64$1,811,460$1,177,371$1,031,107$1,702,473
65$1,967,061$1,205,895$1,036,481$1,819,891
66$2,137,614$1,234,897$1,041,116$1,947,873
67$2,324,616$1,264,372$1,044,959$2,087,467
68$2,529,715$1,294,314$1,047,953$2,239,824
69$2,754,725$1,324,715$1,050,039$2,406,216
70$3,001,646$1,355,565$1,051,154$2,588,042
71$3,272,681$1,386,854$1,051,234$2,786,844
72$3,570,254$1,418,570$1,050,210$3,004,320
73$3,897,038$1,450,698$1,048,011$3,242,343
74$4,255,976$1,483,223$1,044,560$3,502,974
75$4,650,312$1,516,127$1,039,778$3,788,485
76$5,083,617$1,549,390$1,033,584$4,101,381
77$5,559,827$1,582,991$1,025,890$4,444,420
78$6,083,277$1,616,905$1,016,605$4,820,642
79$6,658,743$1,651,106$1,005,634$5,233,396
80$7,291,489$1,685,564$992,877$5,686,373
81$7,987,313$1,720,248$978,229$6,183,642
82$8,752,601$1,755,122$961,582$6,729,684
83$9,594,391$1,790,149$942,820$7,329,438
84$10,520,439$1,825,286$921,825$7,988,348
85$11,539,287$1,860,488$898,469$8,712,410
86$12,660,349$1,895,707$872,623$9,508,236
87$13,893,998$1,930,890$844,148$10,383,109
88$15,251,661$1,965,978$812,902$11,345,056
89$16,745,930$2,000,911$778,735$12,402,924
90$18,390,681$2,035,622$741,488$13,566,460
91$20,201,201$2,070,038$700,999$14,846,409
92$22,194,336$2,104,083$657,095$16,254,609
93$24,388,649$2,137,673$609,598$17,804,109
94$26,804,591$2,170,720$558,320$19,509,286
95$29,464,702$2,203,127$503,066$21,385,986
96$32,393,814$2,234,793$443,631$23,451,674
97$35,619,292$2,265,607$379,802$25,725,592
98$39,171,291$2,295,452$311,356$28,228,951
99$43,083,036$2,324,203$238,060$30,985,123
100$47,391,143$2,351,726$159,672$34,019,866