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%17.7%
1 years$78,450$77,751$77,070$76,404$75,754$73,388
2 years$38,837$38,113$37,412$36,733$36,073$33,711
3 years$25,634$24,908$24,208$23,535$22,887$20,601
4 years$19,034$18,310$17,617$16,956$16,323$14,133
5 years$15,075$14,355$13,672$13,024$12,408$10,319
6 years$12,436$11,722$11,049$10,415$9,818$7,832
7 years$10,552$9,844$9,182$8,563$7,985$6,101
8 years$9,140$8,438$7,787$7,183$6,624$4,841
9 years$8,042$7,347$6,707$6,118$5,579$3,895
10 years$7,165$6,476$5,847$5,274$4,753$3,166
11 years$6,447$5,765$5,148$4,590$4,088$2,595
12 years$5,849$5,175$4,568$4,026$3,543$2,141
13 years$5,344$4,676$4,082$3,554$3,089$1,775
14 years$4,911$4,251$3,667$3,155$2,708$1,477
15 years$4,536$3,883$3,311$2,814$2,384$1,234
16 years$4,209$3,563$3,002$2,520$2,107$1,034
17 years$3,920$3,281$2,732$2,264$1,868$868
18 years$3,664$3,032$2,494$2,040$1,661$730
19 years$3,435$2,810$2,283$1,843$1,481$615
20 years$3,229$2,611$2,095$1,670$1,323$519
21 years$3,043$2,432$1,927$1,515$1,184$438
22 years$2,874$2,270$1,776$1,378$1,061$370
23 years$2,720$2,123$1,640$1,255$952$313
24 years$2,579$1,989$1,517$1,144$856$265
25 years$2,449$1,867$1,405$1,045$770$225
26 years$2,330$1,755$1,303$956$694$190
27 years$2,220$1,651$1,210$875$626$161
28 years$2,117$1,556$1,125$801$564$137
29 years$2,022$1,468$1,047$735$510$116
30 years$1,934$1,386$975$674$461$99
31 years$1,851$1,311$909$619$416$84
32 years$1,774$1,240$848$569$377$71
33 years$1,701$1,174$792$523$341$60
34 years$1,633$1,113$740$482$309$51
35 years$1,569$1,056$692$443$280$43
36 years$1,509$1,002$647$408$253$37
37 years$1,452$952$606$376$230$31
38 years$1,398$904$567$347$208$27
39 years$1,347$860$531$320$189$23
40 years$1,299$818$498$295$171$19
41 years$1,253$779$467$272$155$16
42 years$1,209$742$438$251$141$14
43 years$1,168$707$411$232$128$12
44 years$1,129$674$386$214$116$10
45 years$1,091$642$362$198$105$8
46 years$1,055$613$340$183$96$7
47 years$1,021$585$320$169$87$6
48 years$989$558$300$156$79$5
49 years$957$533$282$144$72$4
50 years$928$509$265$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $950,000, adding $5,952 every year, while hoping to spend $21,840 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: 49/40/11 Blend
56$950,000$950,000$950,000$950,000
57$1,053,039$1,002,689$987,964$1,101,216
58$1,137,212$1,028,584$997,824$1,160,805
59$1,229,238$1,055,015$1,007,281$1,222,717
60$1,329,896$1,081,986$1,016,301$1,289,468
61$1,440,042$1,109,500$1,024,843$1,361,517
62$1,560,619$1,137,558$1,032,869$1,439,372
63$1,692,667$1,166,163$1,040,334$1,523,587
64$1,837,328$1,195,315$1,047,195$1,614,776
65$1,995,864$1,225,014$1,053,404$1,713,614
66$2,169,661$1,255,258$1,058,912$1,820,844
67$2,360,247$1,286,046$1,063,666$1,937,284
68$2,569,305$1,317,375$1,067,612$2,063,837
69$2,798,688$1,349,241$1,070,691$2,201,494
70$3,050,440$1,381,639$1,072,845$2,351,349
71$3,326,808$1,414,562$1,074,008$2,514,606
72$3,630,270$1,448,004$1,074,115$2,692,594
73$3,963,555$1,481,953$1,073,095$2,886,774
74$4,329,669$1,516,401$1,070,876$3,098,756
75$4,731,925$1,551,335$1,067,380$3,330,315
76$5,173,971$1,586,740$1,062,527$3,583,406
77$5,659,827$1,622,600$1,056,232$3,860,183
78$6,193,920$1,658,898$1,048,407$4,163,020
79$6,781,130$1,695,614$1,038,958$4,494,533
80$7,426,831$1,732,725$1,027,789$4,857,604
81$8,136,945$1,770,206$1,014,797$5,255,408
82$8,917,997$1,808,030$999,877$5,691,444
83$9,777,176$1,846,167$982,916$6,169,570
84$10,722,401$1,884,582$963,797$6,694,035
85$11,762,400$1,923,241$942,398$7,269,523
86$12,906,788$1,962,103$918,592$7,901,193
87$14,166,159$2,001,124$892,243$8,594,734
88$15,552,186$2,040,259$863,212$9,356,413
89$17,077,733$2,079,455$831,353$10,193,138
90$18,756,970$2,118,657$796,513$11,112,522
91$20,605,515$2,157,805$758,530$12,122,952
92$22,640,575$2,196,834$717,238$13,233,675
93$24,881,109$2,235,675$672,461$14,454,880
94$27,348,011$2,274,252$624,017$15,797,796
95$30,064,301$2,312,483$571,714$17,274,798
96$33,055,347$2,350,282$515,354$18,899,525
97$36,349,101$2,387,554$454,727$20,687,007
98$39,976,364$2,424,199$389,615$22,653,811
99$43,971,077$2,460,108$319,791$24,818,191
100$48,370,640$2,495,167$245,017$27,200,268