Can I retire at age 57 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$77,789$77,097$76,421$75,761$75,116$72,136
2 years$38,510$37,792$37,097$36,423$35,770$32,804
3 years$25,418$24,698$24,004$23,337$22,694$19,836
4 years$18,874$18,155$17,469$16,813$16,185$13,458
5 years$14,948$14,234$13,557$12,914$12,304$9,713
6 years$12,332$11,623$10,956$10,327$9,736$7,283
7 years$10,464$9,761$9,104$8,491$7,918$5,602
8 years$9,063$8,367$7,721$7,123$6,568$4,388
9 years$7,975$7,285$6,650$6,067$5,532$3,483
10 years$7,104$6,421$5,798$5,230$4,713$2,793
11 years$6,393$5,717$5,104$4,551$4,054$2,256
12 years$5,800$5,131$4,530$3,992$3,513$1,834
13 years$5,299$4,637$4,047$3,525$3,063$1,498
14 years$4,870$4,215$3,636$3,129$2,685$1,228
15 years$4,498$3,850$3,283$2,790$2,364$1,010
16 years$4,173$3,533$2,977$2,498$2,089$832
17 years$3,887$3,253$2,709$2,245$1,853$688
18 years$3,633$3,006$2,473$2,023$1,647$569
19 years$3,406$2,786$2,264$1,828$1,468$471
20 years$3,202$2,589$2,077$1,656$1,312$391
21 years$3,017$2,412$1,911$1,503$1,174$325
22 years$2,850$2,251$1,761$1,366$1,052$270
23 years$2,697$2,105$1,626$1,244$944$224
24 years$2,557$1,973$1,504$1,135$849$187
25 years$2,429$1,851$1,393$1,036$764$155
26 years$2,310$1,740$1,292$948$688$129
27 years$2,201$1,637$1,200$867$620$108
28 years$2,100$1,543$1,115$795$560$90
29 years$2,005$1,456$1,038$729$505$75
30 years$1,918$1,375$967$669$457$62
31 years$1,836$1,299$901$614$413$52
32 years$1,759$1,230$841$564$373$43
33 years$1,687$1,164$785$519$338$36
34 years$1,619$1,104$734$478$306$30
35 years$1,556$1,047$686$440$277$25
36 years$1,496$994$642$405$251$21
37 years$1,440$944$600$373$228$17
38 years$1,386$897$562$344$206$15
39 years$1,336$853$527$317$187$12
40 years$1,288$811$494$292$170$10
41 years$1,242$772$463$270$154$8
42 years$1,199$736$434$249$140$7
43 years$1,158$701$408$230$127$6
44 years$1,119$668$383$212$115$5
45 years$1,082$637$359$196$104$4
46 years$1,047$608$337$181$95$3
47 years$1,013$580$317$167$86$3
48 years$980$554$298$155$78$2
49 years$949$529$280$143$71$2
50 years$920$505$263$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $942,000, adding $2,678 every year, while hoping to spend $55,287 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: 27/43/30 Blend
56$942,000$942,000$942,000$942,000
57$1,040,846$990,920$976,319$1,059,214
58$1,088,188$980,651$950,201$1,064,182
59$1,138,505$968,024$921,355$1,064,623
60$1,192,043$952,868$889,631$1,063,992
61$1,249,071$934,998$854,873$1,062,239
62$1,309,881$914,218$816,917$1,059,310
63$1,374,797$890,323$775,591$1,055,157
64$1,444,170$863,093$730,717$1,049,729
65$1,518,388$832,296$682,108$1,042,980
66$1,597,873$797,689$629,569$1,034,865
67$1,683,091$759,010$572,894$1,025,341
68$1,774,552$715,987$511,871$1,014,371
69$1,872,814$668,329$446,278$1,001,922
70$1,978,494$615,729$375,880$987,966
71$2,092,264$557,864$300,436$972,482
72$2,214,865$494,390$219,691$955,458
73$2,347,112$424,945$133,381$936,889
74$2,489,897$349,147$41,229$916,784
75$2,644,202$266,591$0$895,164
76$2,811,107$176,850$0$890,345
77$2,991,799$79,474$0$899,370
78$3,187,580$0$0$909,201
79$3,399,886$0$0$932,345
80$3,630,292$0$0$998,404
81$3,880,534$0$0$1,070,285
82$4,152,520$0$0$1,148,556
83$4,448,347$0$0$1,233,836
84$4,770,325$0$0$1,326,811
85$5,120,994$0$0$1,428,234
86$5,503,151$0$0$1,538,934
87$5,919,872$0$0$1,659,823
88$6,374,544$0$0$1,791,906
89$6,870,894$0$0$1,936,290
90$7,413,025$0$0$2,094,191
91$8,005,455$0$0$2,266,951
92$8,653,156$0$0$2,456,046
93$9,361,603$0$0$2,663,101
94$10,136,825$0$0$2,889,906
95$10,985,461$0$0$3,138,434
96$11,914,820$0$0$3,410,855
97$12,932,953$0$0$3,709,560
98$14,048,723$0$0$4,037,183
99$15,271,896$0$0$4,396,626
100$16,613,223$0$0$4,791,082