Can I retire at age 57 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$77,872$77,178$76,502$75,841$75,196$74,072
2 years$38,551$37,833$37,137$36,462$35,808$34,678
3 years$25,445$24,724$24,030$23,362$22,718$21,618
4 years$18,894$18,175$17,488$16,831$16,203$15,140
5 years$14,964$14,249$13,571$12,928$12,317$11,295
6 years$12,345$11,636$10,967$10,338$9,746$8,766
7 years$10,475$9,772$9,114$8,500$7,926$6,989
8 years$9,073$8,376$7,729$7,130$6,575$5,680
9 years$7,983$7,293$6,657$6,073$5,537$4,684
10 years$7,112$6,428$5,804$5,235$4,718$3,906
11 years$6,399$5,723$5,110$4,556$4,058$3,286
12 years$5,806$5,136$4,535$3,996$3,516$2,784
13 years$5,305$4,642$4,052$3,528$3,066$2,372
14 years$4,875$4,219$3,640$3,132$2,688$2,031
15 years$4,503$3,854$3,287$2,793$2,367$1,745
16 years$4,178$3,536$2,980$2,501$2,092$1,505
17 years$3,891$3,257$2,712$2,247$1,855$1,302
18 years$3,637$3,009$2,475$2,025$1,649$1,128
19 years$3,409$2,789$2,266$1,830$1,470$980
20 years$3,205$2,592$2,080$1,657$1,313$853
21 years$3,020$2,414$1,913$1,504$1,175$743
22 years$2,853$2,254$1,763$1,368$1,053$649
23 years$2,700$2,108$1,628$1,245$945$567
24 years$2,560$1,975$1,505$1,136$850$495
25 years$2,431$1,853$1,394$1,037$765$434
26 years$2,313$1,742$1,293$949$689$380
27 years$2,203$1,639$1,201$868$621$333
28 years$2,102$1,545$1,116$795$560$292
29 years$2,007$1,457$1,039$729$506$256
30 years$1,920$1,376$968$669$457$225
31 years$1,837$1,301$902$615$413$197
32 years$1,761$1,231$842$565$374$173
33 years$1,689$1,166$786$520$338$152
34 years$1,621$1,105$734$478$306$134
35 years$1,558$1,048$687$440$277$117
36 years$1,498$995$642$405$251$103
37 years$1,441$945$601$373$228$91
38 years$1,388$898$563$344$207$80
39 years$1,337$854$527$317$187$70
40 years$1,289$812$494$293$170$62
41 years$1,244$773$464$270$154$54
42 years$1,201$736$435$249$140$48
43 years$1,160$702$408$230$127$42
44 years$1,120$669$383$212$115$37
45 years$1,083$638$360$196$105$33
46 years$1,048$608$338$181$95$29
47 years$1,014$581$317$167$86$25
48 years$981$554$298$155$78$22
49 years$950$529$280$143$71$20
50 years$921$506$263$132$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $943,000, adding $2,820 every year, while hoping to spend $41,818 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: 61/26/13 Blend
56$943,000$943,000$943,000$943,000
57$1,042,095$992,116$977,499$1,102,208
58$1,103,894$996,235$965,752$1,147,056
59$1,170,596$999,155$952,209$1,190,982
60$1,242,656$1,000,773$936,766$1,237,903
61$1,320,574$1,000,978$919,315$1,288,111
62$1,404,902$999,655$899,742$1,341,929
63$1,496,244$996,681$877,926$1,399,715
64$1,595,267$991,924$853,742$1,461,863
65$1,702,702$985,246$827,060$1,528,811
66$1,819,354$976,499$797,743$1,601,040
67$1,946,108$965,528$765,647$1,679,085
68$2,083,938$952,166$730,624$1,763,534
69$2,233,916$936,238$692,515$1,855,039
70$2,397,220$917,558$651,159$1,954,321
71$2,575,147$895,930$606,384$2,062,174
72$2,769,126$871,144$558,012$2,179,477
73$2,980,727$842,980$505,855$2,307,202
74$3,211,679$811,204$449,719$2,446,421
75$3,463,886$775,569$389,401$2,598,320
76$3,739,444$735,814$324,688$2,764,206
77$4,040,660$691,661$255,357$2,945,526
78$4,370,073$642,817$181,177$3,143,876
79$4,730,479$588,975$101,906$3,361,020
80$5,124,960$529,806$17,291$3,598,905
81$5,556,904$464,965$0$3,859,679
82$6,030,046$394,086$0$4,155,845
83$6,548,498$316,784$0$4,483,114
84$7,116,789$232,651$0$4,842,016
85$7,739,907$141,256$0$5,235,789
86$8,423,345$42,145$0$5,667,999
87$9,173,153$0$0$6,142,585
88$9,995,997$0$0$6,682,529
89$10,899,217$0$0$7,288,527
90$11,890,899$0$0$7,953,954
91$12,979,952$0$0$8,684,798
92$14,176,188$0$0$9,487,654
93$15,490,417$0$0$10,369,786
94$16,934,548$0$0$11,339,199
95$18,521,699$0$0$12,404,711
96$20,266,324$0$0$13,576,035
97$22,184,347$0$0$14,863,876
98$24,293,309$0$0$16,280,023
99$26,612,540$0$0$17,837,468
100$29,163,334$0$0$19,550,524