Can I retire at age 57 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$78,450$77,751$77,070$76,404$75,754$72,893
2 years$38,837$38,113$37,412$36,733$36,073$33,224
3 years$25,634$24,908$24,208$23,535$22,887$20,138
4 years$19,034$18,310$17,617$16,956$16,323$13,697
5 years$15,075$14,355$13,672$13,024$12,408$9,912
6 years$12,436$11,722$11,049$10,415$9,818$7,452
7 years$10,552$9,844$9,182$8,563$7,985$5,749
8 years$9,140$8,438$7,787$7,183$6,624$4,517
9 years$8,042$7,347$6,707$6,118$5,579$3,596
10 years$7,165$6,476$5,847$5,274$4,753$2,892
11 years$6,447$5,765$5,148$4,590$4,088$2,345
12 years$5,849$5,175$4,568$4,026$3,543$1,912
13 years$5,344$4,676$4,082$3,554$3,089$1,567
14 years$4,911$4,251$3,667$3,155$2,708$1,289
15 years$4,536$3,883$3,311$2,814$2,384$1,064
16 years$4,209$3,563$3,002$2,520$2,107$880
17 years$3,920$3,281$2,732$2,264$1,868$730
18 years$3,664$3,032$2,494$2,040$1,661$606
19 years$3,435$2,810$2,283$1,843$1,481$504
20 years$3,229$2,611$2,095$1,670$1,323$420
21 years$3,043$2,432$1,927$1,515$1,184$350
22 years$2,874$2,270$1,776$1,378$1,061$292
23 years$2,720$2,123$1,640$1,255$952$244
24 years$2,579$1,989$1,517$1,144$856$204
25 years$2,449$1,867$1,405$1,045$770$170
26 years$2,330$1,755$1,303$956$694$142
27 years$2,220$1,651$1,210$875$626$119
28 years$2,117$1,556$1,125$801$564$99
29 years$2,022$1,468$1,047$735$510$83
30 years$1,934$1,386$975$674$461$70
31 years$1,851$1,311$909$619$416$58
32 years$1,774$1,240$848$569$377$49
33 years$1,701$1,174$792$523$341$41
34 years$1,633$1,113$740$482$309$34
35 years$1,569$1,056$692$443$280$29
36 years$1,509$1,002$647$408$253$24
37 years$1,452$952$606$376$230$20
38 years$1,398$904$567$347$208$17
39 years$1,347$860$531$320$189$14
40 years$1,299$818$498$295$171$12
41 years$1,253$779$467$272$155$10
42 years$1,209$742$438$251$141$8
43 years$1,168$707$411$232$128$7
44 years$1,129$674$386$214$116$6
45 years$1,091$642$362$198$105$5
46 years$1,055$613$340$183$96$4
47 years$1,021$585$320$169$87$3
48 years$989$558$300$156$79$3
49 years$957$533$282$144$72$2
50 years$928$509$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $950,000, adding $4,064 every year, while hoping to spend $54,926 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: 61/17/22 Blend
56$950,000$950,000$950,000$950,000
57$1,051,092$1,000,742$986,017$1,108,891
58$1,099,863$991,338$960,608$1,139,102
59$1,151,767$979,631$932,506$1,165,659
60$1,207,066$965,453$901,565$1,193,417
61$1,266,048$948,621$867,628$1,222,501
62$1,329,025$928,943$830,534$1,253,049
63$1,396,342$906,218$790,113$1,285,220
64$1,468,375$880,229$746,188$1,319,189
65$1,545,539$850,750$698,575$1,355,149
66$1,628,286$817,538$647,079$1,393,320
67$1,717,114$780,340$591,499$1,433,945
68$1,812,569$738,886$531,623$1,477,295
69$1,915,249$692,890$467,231$1,523,672
70$2,025,814$642,052$398,093$1,573,411
71$2,144,986$586,051$323,968$1,626,888
72$2,273,558$524,551$244,604$1,684,520
73$2,412,403$457,195$159,740$1,746,768
74$2,562,478$383,608$69,102$1,814,149
75$2,724,838$303,392$0$1,887,235
76$2,900,639$216,126$0$1,973,146
77$3,091,155$121,367$0$2,083,835
78$3,297,785$18,646$0$2,203,922
79$3,522,068$0$0$2,334,351
80$3,765,697$0$0$2,493,478
81$4,030,534$0$0$2,670,314
82$4,318,628$0$0$2,862,745
83$4,632,233$0$0$3,072,286
84$4,973,827$0$0$3,300,602
85$5,346,142$0$0$3,549,528
86$5,752,179$0$0$3,821,080
87$6,195,245$0$0$4,117,480
88$6,678,979$0$0$4,441,172
89$7,207,385$0$0$4,794,848
90$7,784,875$0$0$5,181,470
91$8,416,302$0$0$5,604,300
92$9,107,012$0$0$6,066,929
93$9,862,890$0$0$6,573,314
94$10,690,417$0$0$7,127,807
95$11,596,729$0$0$7,735,206
96$12,589,686$0$0$8,400,790
97$13,677,942$0$0$9,130,377
98$14,871,029$0$0$9,930,371
99$16,179,447$0$0$10,807,829
100$17,614,757$0$0$11,770,522