Can I retire at age 57 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$78,202$77,506$76,826$76,163$75,515$73,039
2 years$38,714$37,993$37,294$36,617$35,960$33,489
3 years$25,553$24,829$24,132$23,461$22,814$20,426
4 years$18,974$18,252$17,562$16,902$16,271$13,984
5 years$15,027$14,310$13,629$12,982$12,369$10,189
6 years$12,397$11,685$11,014$10,382$9,787$7,716
7 years$10,519$9,813$9,153$8,536$7,960$5,997
8 years$9,111$8,412$7,762$7,160$6,603$4,748
9 years$8,017$7,324$6,686$6,099$5,561$3,810
10 years$7,142$6,456$5,829$5,257$4,738$3,090
11 years$6,427$5,747$5,131$4,576$4,075$2,526
12 years$5,831$5,158$4,554$4,013$3,531$2,078
13 years$5,327$4,661$4,069$3,543$3,079$1,718
14 years$4,896$4,237$3,656$3,145$2,699$1,426
15 years$4,522$3,871$3,301$2,805$2,377$1,188
16 years$4,196$3,551$2,993$2,512$2,101$992
17 years$3,908$3,271$2,723$2,257$1,863$831
18 years$3,652$3,022$2,486$2,034$1,656$697
19 years$3,424$2,801$2,276$1,838$1,476$585
20 years$3,219$2,603$2,088$1,664$1,318$492
21 years$3,033$2,424$1,921$1,510$1,180$414
22 years$2,865$2,263$1,771$1,373$1,058$349
23 years$2,711$2,117$1,635$1,251$949$294
24 years$2,571$1,983$1,512$1,141$853$248
25 years$2,442$1,861$1,400$1,042$768$210
26 years$2,323$1,749$1,299$953$692$177
27 years$2,213$1,646$1,206$872$624$150
28 years$2,111$1,551$1,121$799$563$127
29 years$2,016$1,463$1,043$733$508$107
30 years$1,928$1,382$972$672$459$91
31 years$1,845$1,306$906$617$415$77
32 years$1,768$1,236$845$567$375$65
33 years$1,696$1,171$789$522$340$55
34 years$1,628$1,109$737$480$308$46
35 years$1,564$1,052$689$442$279$39
36 years$1,504$999$645$407$252$33
37 years$1,447$949$604$375$229$28
38 years$1,394$902$565$346$207$24
39 years$1,343$857$530$319$188$20
40 years$1,295$816$496$294$171$17
41 years$1,249$776$465$271$155$14
42 years$1,206$739$437$250$140$12
43 years$1,164$705$410$231$127$10
44 years$1,125$672$385$213$116$9
45 years$1,088$640$361$197$105$7
46 years$1,052$611$339$182$95$6
47 years$1,018$583$319$168$87$5
48 years$985$557$299$155$79$5
49 years$954$531$281$144$71$4
50 years$925$508$265$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $947,000, adding $5,325 every year, while hoping to spend $22,471 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: 47/34/19 Blend
56$947,000$947,000$947,000$947,000
57$1,049,087$998,896$984,217$1,092,506
58$1,132,185$1,023,933$993,280$1,148,342
59$1,223,005$1,049,443$1,001,892$1,206,225
60$1,322,313$1,075,427$1,010,017$1,268,578
61$1,430,949$1,101,883$1,017,612$1,335,828
62$1,549,838$1,128,808$1,024,635$1,408,447
63$1,680,003$1,156,200$1,031,041$1,486,953
64$1,822,564$1,184,055$1,036,782$1,571,915
65$1,978,759$1,212,368$1,041,808$1,663,964
66$2,149,951$1,241,132$1,046,067$1,763,793
67$2,337,639$1,270,340$1,049,503$1,872,165
68$2,543,475$1,299,984$1,052,059$1,989,921
69$2,769,280$1,330,054$1,053,673$2,117,989
70$3,017,058$1,360,537$1,054,282$2,257,390
71$3,289,016$1,391,422$1,053,819$2,409,250
72$3,587,587$1,422,693$1,052,213$2,574,809
73$3,915,449$1,454,334$1,049,391$2,755,436
74$4,275,554$1,486,325$1,045,274$2,952,635
75$4,671,153$1,518,647$1,039,783$3,168,070
76$5,105,827$1,551,277$1,032,832$3,403,568
77$5,583,521$1,584,190$1,024,332$3,661,148
78$6,108,583$1,617,358$1,014,190$3,943,033
79$6,685,801$1,650,750$1,002,307$4,251,673
80$7,320,450$1,684,335$988,582$4,589,768
81$8,018,343$1,718,075$972,907$4,960,297
82$8,785,885$1,751,931$955,170$5,366,538
83$9,630,130$1,785,861$935,253$5,812,110
84$10,558,853$1,819,818$913,034$6,300,997
85$11,580,619$1,853,752$888,384$6,837,592
86$12,704,865$1,887,608$861,168$7,426,739
87$13,941,990$1,921,329$831,245$8,073,774
88$15,303,450$1,954,852$798,469$8,784,580
89$16,801,869$1,988,107$762,685$9,565,640
90$18,451,157$2,021,021$723,732$10,424,103
91$20,266,641$2,053,517$681,443$11,367,845
92$22,265,208$2,085,509$635,641$12,405,548
93$24,465,467$2,116,907$586,143$13,546,782
94$26,887,923$2,147,614$532,757$14,802,096
95$29,555,169$2,177,525$475,282$16,183,114
96$32,492,102$2,206,529$413,510$17,702,652
97$35,726,154$2,234,507$347,220$19,374,832
98$39,287,555$2,261,331$276,185$21,215,222
99$43,209,615$2,286,865$200,167$23,240,978
100$47,529,039$2,310,965$118,916$25,471,012