Can I retire at age 57 with 944,000?

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 $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%17%
1 years$77,955$77,260$76,583$75,922$75,276$73,130
2 years$38,591$37,873$37,176$36,501$35,846$33,700
3 years$25,472$24,750$24,055$23,386$22,742$20,665
4 years$18,914$18,194$17,506$16,849$16,220$14,226
5 years$14,980$14,264$13,586$12,941$12,330$10,426
6 years$12,358$11,648$10,979$10,349$9,756$7,943
7 years$10,486$9,782$9,124$8,509$7,934$6,212
8 years$9,082$8,385$7,738$7,138$6,582$4,950
9 years$7,992$7,301$6,664$6,080$5,543$4,000
10 years$7,119$6,435$5,810$5,241$4,723$3,266
11 years$6,406$5,729$5,115$4,561$4,062$2,689
12 years$5,812$5,142$4,540$4,001$3,520$2,228
13 years$5,310$4,647$4,056$3,532$3,070$1,856
14 years$4,880$4,224$3,644$3,135$2,691$1,553
15 years$4,508$3,858$3,290$2,796$2,369$1,303
16 years$4,182$3,540$2,983$2,504$2,094$1,097
17 years$3,895$3,260$2,714$2,250$1,857$926
18 years$3,641$3,013$2,478$2,027$1,651$783
19 years$3,413$2,792$2,268$1,832$1,471$663
20 years$3,208$2,595$2,082$1,659$1,314$562
21 years$3,023$2,417$1,915$1,506$1,176$478
22 years$2,856$2,256$1,765$1,369$1,054$406
23 years$2,703$2,110$1,630$1,247$946$345
24 years$2,562$1,977$1,507$1,137$851$294
25 years$2,434$1,855$1,396$1,039$765$250
26 years$2,315$1,744$1,295$950$689$213
27 years$2,206$1,641$1,202$869$622$182
28 years$2,104$1,546$1,118$796$561$155
29 years$2,010$1,459$1,040$730$506$132
30 years$1,922$1,378$969$670$458$113
31 years$1,839$1,302$903$616$414$96
32 years$1,763$1,232$843$566$374$82
33 years$1,691$1,167$787$520$339$70
34 years$1,623$1,106$735$479$307$60
35 years$1,559$1,049$687$441$278$51
36 years$1,499$996$643$406$252$44
37 years$1,443$946$602$374$228$37
38 years$1,389$899$564$345$207$32
39 years$1,339$855$528$318$188$27
40 years$1,291$813$495$293$170$23
41 years$1,245$774$464$270$154$20
42 years$1,202$737$435$250$140$17
43 years$1,161$702$408$230$127$15
44 years$1,122$669$383$213$115$12
45 years$1,084$638$360$196$105$11
46 years$1,049$609$338$181$95$9
47 years$1,015$581$318$168$86$8
48 years$982$555$298$155$78$7
49 years$951$530$281$143$71$6
50 years$922$506$264$132$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $944,000, adding $6,582 every year, while hoping to spend $37,081 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: 65/24/11 Blend
56$944,000$944,000$944,000$944,000
57$1,047,077$997,045$982,413$1,112,168
58$1,114,425$1,006,447$975,870$1,165,813
59$1,187,400$1,015,066$967,865$1,219,446
60$1,266,536$1,022,825$958,310$1,277,103
61$1,352,422$1,029,643$947,113$1,339,175
62$1,445,704$1,035,430$934,176$1,406,091
63$1,547,094$1,040,095$919,399$1,478,326
64$1,657,374$1,043,536$902,676$1,556,403
65$1,777,406$1,045,649$883,895$1,640,902
66$1,908,138$1,046,322$862,941$1,732,458
67$2,050,611$1,045,435$839,693$1,831,775
68$2,205,973$1,042,861$814,022$1,939,629
69$2,375,487$1,038,466$785,797$2,056,876
70$2,560,544$1,032,108$754,879$2,184,459
71$2,762,674$1,023,636$721,121$2,323,421
72$2,983,561$1,012,888$684,373$2,474,911
73$3,225,059$999,695$644,475$2,640,196
74$3,489,212$983,877$601,262$2,820,675
75$3,778,267$965,242$554,559$3,017,891
76$4,094,700$943,589$504,187$3,233,546
77$4,441,237$918,702$449,955$3,469,518
78$4,820,881$890,356$391,666$3,727,877
79$5,236,937$858,310$329,113$4,010,908
80$5,693,048$822,310$262,081$4,321,130
81$6,193,223$782,087$190,345$4,661,325
82$6,741,879$737,357$113,669$5,034,557
83$7,343,882$687,819$31,809$5,444,207
84$8,004,591$633,156$0$5,894,007
85$8,729,909$573,030$0$6,394,588
86$9,526,338$507,086$0$6,948,377
87$10,401,041$434,950$0$7,556,671
88$11,361,909$356,224$0$8,225,023
89$12,417,634$270,490$0$8,959,554
90$13,577,792$177,304$0$9,767,011
91$14,852,934$76,199$0$10,654,834
92$16,254,682$0$0$11,631,223
93$17,795,841$0$0$12,714,019
94$19,490,518$0$0$13,926,872
95$21,354,256$0$0$15,260,791
96$23,404,181$0$0$16,728,042
97$25,659,159$0$0$18,342,137
98$28,139,979$0$0$20,117,966
99$30,869,546$0$0$22,071,936
100$33,873,096$0$0$24,222,121