Can I retire at age 57 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$77,955$77,260$76,583$75,922$75,276$74,896
2 years$38,591$37,873$37,176$36,501$35,846$35,462
3 years$25,472$24,750$24,055$23,386$22,742$22,367
4 years$18,914$18,194$17,506$16,849$16,220$15,856
5 years$14,980$14,264$13,586$12,941$12,330$11,978
6 years$12,358$11,648$10,979$10,349$9,756$9,417
7 years$10,486$9,782$9,124$8,509$7,934$7,609
8 years$9,082$8,385$7,738$7,138$6,582$6,269
9 years$7,992$7,301$6,664$6,080$5,543$5,243
10 years$7,119$6,435$5,810$5,241$4,723$4,436
11 years$6,406$5,729$5,115$4,561$4,062$3,787
12 years$5,812$5,142$4,540$4,001$3,520$3,258
13 years$5,310$4,647$4,056$3,532$3,070$2,819
14 years$4,880$4,224$3,644$3,135$2,691$2,452
15 years$4,508$3,858$3,290$2,796$2,369$2,142
16 years$4,182$3,540$2,983$2,504$2,094$1,878
17 years$3,895$3,260$2,714$2,250$1,857$1,652
18 years$3,641$3,013$2,478$2,027$1,651$1,457
19 years$3,413$2,792$2,268$1,832$1,471$1,287
20 years$3,208$2,595$2,082$1,659$1,314$1,140
21 years$3,023$2,417$1,915$1,506$1,176$1,011
22 years$2,856$2,256$1,765$1,369$1,054$899
23 years$2,703$2,110$1,630$1,247$946$799
24 years$2,562$1,977$1,507$1,137$851$712
25 years$2,434$1,855$1,396$1,039$765$635
26 years$2,315$1,744$1,295$950$689$567
27 years$2,206$1,641$1,202$869$622$506
28 years$2,104$1,546$1,118$796$561$452
29 years$2,010$1,459$1,040$730$506$405
30 years$1,922$1,378$969$670$458$362
31 years$1,839$1,302$903$616$414$324
32 years$1,763$1,232$843$566$374$290
33 years$1,691$1,167$787$520$339$260
34 years$1,623$1,106$735$479$307$233
35 years$1,559$1,049$687$441$278$209
36 years$1,499$996$643$406$252$188
37 years$1,443$946$602$374$228$168
38 years$1,389$899$564$345$207$151
39 years$1,339$855$528$318$188$136
40 years$1,291$813$495$293$170$122
41 years$1,245$774$464$270$154$109
42 years$1,202$737$435$250$140$98
43 years$1,161$702$408$230$127$88
44 years$1,122$669$383$213$115$79
45 years$1,084$638$360$196$105$71
46 years$1,049$609$338$181$95$64
47 years$1,015$581$318$168$86$58
48 years$982$555$298$155$78$52
49 years$951$530$281$143$71$46
50 years$922$506$264$132$65$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $944,000, adding $3,052 every year, while hoping to spend $34,920 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: 46/39/15 Blend
56$944,000$944,000$944,000$944,000
57$1,043,436$993,404$978,772$1,086,861
58$1,112,712$1,004,926$974,406$1,128,879
59$1,187,884$1,015,843$968,724$1,170,653
60$1,269,516$1,026,087$961,644$1,215,213
61$1,358,229$1,035,588$953,082$1,262,831
62$1,454,706$1,044,269$942,948$1,313,810
63$1,559,699$1,052,052$931,150$1,368,482
64$1,674,035$1,058,849$917,590$1,427,217
65$1,798,623$1,064,569$902,166$1,490,422
66$1,934,465$1,069,115$884,771$1,558,550
67$2,082,663$1,072,384$865,293$1,632,099
68$2,244,430$1,074,267$843,616$1,711,621
69$2,421,101$1,074,645$819,616$1,797,727
70$2,614,147$1,073,396$793,167$1,891,091
71$2,825,185$1,070,387$764,133$1,992,460
72$3,055,997$1,065,480$732,375$2,102,657
73$3,308,546$1,058,525$697,746$2,222,593
74$3,584,991$1,049,366$660,094$2,353,277
75$3,887,711$1,037,836$619,258$2,495,821
76$4,219,325$1,023,758$575,071$2,651,454
77$4,582,719$1,006,945$527,359$2,821,536
78$4,981,070$987,198$475,938$3,007,568
79$5,417,875$964,307$420,618$3,211,207
80$5,896,990$938,050$361,201$3,434,286
81$6,422,660$908,191$297,478$3,678,829
82$6,999,559$874,480$229,231$3,947,069
83$7,632,838$836,654$156,234$4,241,474
84$8,328,170$794,433$78,251$4,564,770
85$9,091,805$747,522$0$4,919,966
86$9,930,627$695,608$0$5,311,178
87$10,852,219$638,361$0$5,754,698
88$11,864,937$575,432$0$6,242,078
89$12,977,985$506,453$0$6,777,835
90$14,201,502$431,032$0$7,366,948
91$15,546,661$348,758$0$8,014,912
92$17,025,769$259,195$0$8,727,787
93$18,652,387$161,885$0$9,512,259
94$20,441,454$56,341$0$10,375,703
95$22,409,431$0$0$11,326,253
96$24,574,455$0$0$12,397,749
97$26,956,509$0$0$13,603,385
98$29,577,608$0$0$14,930,138
99$32,462,014$0$0$16,390,305
100$35,636,454$0$0$17,997,435