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%19.3%
1 years$78,450$77,751$77,070$76,404$75,754$72,922
2 years$38,837$38,113$37,412$36,733$36,073$33,252
3 years$25,634$24,908$24,208$23,535$22,887$20,165
4 years$19,034$18,310$17,617$16,956$16,323$13,722
5 years$15,075$14,355$13,672$13,024$12,408$9,935
6 years$12,436$11,722$11,049$10,415$9,818$7,474
7 years$10,552$9,844$9,182$8,563$7,985$5,769
8 years$9,140$8,438$7,787$7,183$6,624$4,535
9 years$8,042$7,347$6,707$6,118$5,579$3,613
10 years$7,165$6,476$5,847$5,274$4,753$2,908
11 years$6,447$5,765$5,148$4,590$4,088$2,359
12 years$5,849$5,175$4,568$4,026$3,543$1,925
13 years$5,344$4,676$4,082$3,554$3,089$1,579
14 years$4,911$4,251$3,667$3,155$2,708$1,300
15 years$4,536$3,883$3,311$2,814$2,384$1,073
16 years$4,209$3,563$3,002$2,520$2,107$889
17 years$3,920$3,281$2,732$2,264$1,868$737
18 years$3,664$3,032$2,494$2,040$1,661$613
19 years$3,435$2,810$2,283$1,843$1,481$510
20 years$3,229$2,611$2,095$1,670$1,323$425
21 years$3,043$2,432$1,927$1,515$1,184$355
22 years$2,874$2,270$1,776$1,378$1,061$296
23 years$2,720$2,123$1,640$1,255$952$247
24 years$2,579$1,989$1,517$1,144$856$207
25 years$2,449$1,867$1,405$1,045$770$173
26 years$2,330$1,755$1,303$956$694$145
27 years$2,220$1,651$1,210$875$626$121
28 years$2,117$1,556$1,125$801$564$101
29 years$2,022$1,468$1,047$735$510$85
30 years$1,934$1,386$975$674$461$71
31 years$1,851$1,311$909$619$416$59
32 years$1,774$1,240$848$569$377$50
33 years$1,701$1,174$792$523$341$42
34 years$1,633$1,113$740$482$309$35
35 years$1,569$1,056$692$443$280$29
36 years$1,509$1,002$647$408$253$25
37 years$1,452$952$606$376$230$21
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$9
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$4
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 $3,171 every year, while hoping to spend $30,071 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: 63/28/9 Blend
56$950,000$950,000$950,000$950,000
57$1,050,171$999,821$985,096$1,114,123
58$1,125,293$1,016,817$986,101$1,174,219
59$1,207,070$1,033,638$986,133$1,236,018
60$1,296,148$1,050,243$985,125$1,302,730
61$1,393,240$1,066,590$983,012$1,374,829
62$1,499,129$1,082,632$979,721$1,452,839
63$1,614,678$1,098,318$975,180$1,537,337
64$1,740,836$1,113,597$969,309$1,628,961
65$1,878,649$1,128,410$962,028$1,728,410
66$2,029,265$1,142,697$953,251$1,836,459
67$2,193,954$1,156,392$942,888$1,953,958
68$2,374,107$1,169,426$930,845$2,081,848
69$2,571,263$1,181,724$917,025$2,221,163
70$2,787,110$1,193,207$901,324$2,373,044
71$3,023,512$1,203,791$883,634$2,538,750
72$3,282,518$1,213,385$863,844$2,719,667
73$3,566,387$1,221,893$841,835$2,917,324
74$3,877,606$1,229,213$817,484$3,133,406
75$4,218,914$1,235,236$790,662$3,369,771
76$4,593,328$1,239,847$761,234$3,628,467
77$5,004,171$1,242,923$729,058$3,911,752
78$5,455,102$1,244,333$693,988$4,222,115
79$5,950,155$1,243,937$655,869$4,562,300
80$6,493,770$1,241,589$614,540$4,935,333
81$7,090,840$1,237,132$569,832$5,344,548
82$7,746,754$1,230,400$521,570$5,793,623
83$8,467,449$1,221,217$469,569$6,286,611
84$9,259,467$1,209,395$413,638$6,827,980
85$10,130,014$1,194,736$353,576$7,422,656
86$11,087,028$1,177,031$289,173$8,076,071
87$12,139,256$1,156,056$220,211$8,794,210
88$13,296,334$1,131,576$146,462$9,583,673
89$14,568,878$1,103,341$67,686$10,451,736
90$15,968,585$1,071,087$0$11,406,419
91$17,508,344$1,034,533$0$12,458,135
92$19,202,353$993,384$0$13,622,098
93$21,066,258$947,325$0$14,902,570
94$23,117,297$896,025$0$16,311,421
95$25,374,465$839,133$0$17,861,734
96$27,858,688$776,278$0$19,567,931
97$30,593,027$707,068$0$21,445,906
98$33,602,890$631,089$0$23,513,176
99$36,916,274$547,902$0$25,789,051
100$40,564,030$457,045$0$28,294,811