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%16.5%
1 years$77,872$77,178$76,502$75,841$75,196$73,200
2 years$38,551$37,833$37,137$36,462$35,808$33,811
3 years$25,445$24,724$24,030$23,362$22,718$20,782
4 years$18,894$18,175$17,488$16,831$16,203$14,343
5 years$14,964$14,249$13,571$12,928$12,317$10,539
6 years$12,345$11,636$10,967$10,338$9,746$8,052
7 years$10,475$9,772$9,114$8,500$7,926$6,315
8 years$9,073$8,376$7,729$7,130$6,575$5,047
9 years$7,983$7,293$6,657$6,073$5,537$4,090
10 years$7,112$6,428$5,804$5,235$4,718$3,350
11 years$6,399$5,723$5,110$4,556$4,058$2,767
12 years$5,806$5,136$4,535$3,996$3,516$2,300
13 years$5,305$4,642$4,052$3,528$3,066$1,923
14 years$4,875$4,219$3,640$3,132$2,688$1,614
15 years$4,503$3,854$3,287$2,793$2,367$1,360
16 years$4,178$3,536$2,980$2,501$2,092$1,149
17 years$3,891$3,257$2,712$2,247$1,855$973
18 years$3,637$3,009$2,475$2,025$1,649$826
19 years$3,409$2,789$2,266$1,830$1,470$702
20 years$3,205$2,592$2,080$1,657$1,313$598
21 years$3,020$2,414$1,913$1,504$1,175$509
22 years$2,853$2,254$1,763$1,368$1,053$435
23 years$2,700$2,108$1,628$1,245$945$371
24 years$2,560$1,975$1,505$1,136$850$317
25 years$2,431$1,853$1,394$1,037$765$271
26 years$2,313$1,742$1,293$949$689$232
27 years$2,203$1,639$1,201$868$621$199
28 years$2,102$1,545$1,116$795$560$170
29 years$2,007$1,457$1,039$729$506$146
30 years$1,920$1,376$968$669$457$125
31 years$1,837$1,301$902$615$413$107
32 years$1,761$1,231$842$565$374$92
33 years$1,689$1,166$786$520$338$79
34 years$1,621$1,105$734$478$306$68
35 years$1,558$1,048$687$440$277$58
36 years$1,498$995$642$405$251$50
37 years$1,441$945$601$373$228$43
38 years$1,388$898$563$344$207$37
39 years$1,337$854$527$317$187$31
40 years$1,289$812$494$293$170$27
41 years$1,244$773$464$270$154$23
42 years$1,201$736$435$249$140$20
43 years$1,160$702$408$230$127$17
44 years$1,120$669$383$212$115$15
45 years$1,083$638$360$196$105$13
46 years$1,048$608$338$181$95$11
47 years$1,014$581$317$167$86$9
48 years$981$554$298$155$78$8
49 years$950$529$280$143$71$7
50 years$921$506$263$132$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $943,000, adding $2,924 every year, while hoping to spend $50,751 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: 58/29/13 Blend
56$943,000$943,000$943,000$943,000
57$1,042,202$992,223$977,607$1,099,090
58$1,094,508$986,843$956,358$1,132,462
59$1,150,448$979,499$932,696$1,162,936
60$1,210,340$970,040$906,487$1,194,953
61$1,274,530$958,308$877,591$1,228,671
62$1,343,402$944,135$845,859$1,264,261
63$1,417,372$927,341$811,139$1,301,916
64$1,496,902$907,738$773,269$1,341,851
65$1,582,494$885,126$732,082$1,384,305
66$1,674,704$859,292$687,402$1,429,544
67$1,774,139$830,012$639,045$1,477,864
68$1,881,467$797,049$586,820$1,529,594
69$1,997,424$760,152$530,525$1,585,101
70$2,122,816$719,054$469,953$1,644,792
71$2,258,529$673,474$404,883$1,709,118
72$2,405,540$623,115$335,087$1,778,583
73$2,564,921$567,663$260,328$1,853,743
74$2,737,849$506,785$180,356$1,935,218
75$2,925,623$440,131$94,910$2,023,696
76$3,129,668$367,328$3,721$2,119,938
77$3,351,552$287,986$0$2,224,790
78$3,593,003$201,689$0$2,352,173
79$3,855,918$108,001$0$2,491,538
80$4,142,389$6,460$0$2,643,564
81$4,454,714$0$0$2,809,572
82$4,795,425$0$0$3,024,027
83$5,167,308$0$0$3,260,428
84$5,573,430$0$0$3,518,672
85$6,017,166$0$0$3,800,916
86$6,502,234$0$0$4,109,534
87$7,032,725$0$0$4,447,140
88$7,613,145$0$0$4,816,612
89$8,248,455$0$0$5,221,121
90$8,944,118$0$0$5,664,156
91$9,706,150$0$0$6,149,560
92$10,541,175$0$0$6,681,567
93$11,456,491$0$0$7,264,838
94$12,460,132$0$0$7,904,508
95$13,560,950$0$0$8,606,232
96$14,768,692$0$0$9,376,239
97$16,094,097$0$0$10,221,390
98$17,548,991$0$0$11,149,243
99$19,146,403$0$0$12,168,123
100$20,900,686$0$0$13,287,201