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%14.3%
1 years$78,450$77,751$77,070$76,404$75,754$74,408
2 years$38,837$38,113$37,412$36,733$36,073$34,721
3 years$25,634$24,908$24,208$23,535$22,887$21,571
4 years$19,034$18,310$17,617$16,956$16,323$15,054
5 years$15,075$14,355$13,672$13,024$12,408$11,190
6 years$12,436$11,722$11,049$10,415$9,818$8,652
7 years$10,552$9,844$9,182$8,563$7,985$6,870
8 years$9,140$8,438$7,787$7,183$6,624$5,562
9 years$8,042$7,347$6,707$6,118$5,579$4,567
10 years$7,165$6,476$5,847$5,274$4,753$3,792
11 years$6,447$5,765$5,148$4,590$4,088$3,176
12 years$5,849$5,175$4,568$4,026$3,543$2,679
13 years$5,344$4,676$4,082$3,554$3,089$2,272
14 years$4,911$4,251$3,667$3,155$2,708$1,936
15 years$4,536$3,883$3,311$2,814$2,384$1,656
16 years$4,209$3,563$3,002$2,520$2,107$1,421
17 years$3,920$3,281$2,732$2,264$1,868$1,223
18 years$3,664$3,032$2,494$2,040$1,661$1,055
19 years$3,435$2,810$2,283$1,843$1,481$912
20 years$3,229$2,611$2,095$1,670$1,323$789
21 years$3,043$2,432$1,927$1,515$1,184$684
22 years$2,874$2,270$1,776$1,378$1,061$594
23 years$2,720$2,123$1,640$1,255$952$516
24 years$2,579$1,989$1,517$1,144$856$449
25 years$2,449$1,867$1,405$1,045$770$390
26 years$2,330$1,755$1,303$956$694$340
27 years$2,220$1,651$1,210$875$626$296
28 years$2,117$1,556$1,125$801$564$258
29 years$2,022$1,468$1,047$735$510$225
30 years$1,934$1,386$975$674$461$197
31 years$1,851$1,311$909$619$416$172
32 years$1,774$1,240$848$569$377$150
33 years$1,701$1,174$792$523$341$131
34 years$1,633$1,113$740$482$309$114
35 years$1,569$1,056$692$443$280$100
36 years$1,509$1,002$647$408$253$87
37 years$1,452$952$606$376$230$76
38 years$1,398$904$567$347$208$67
39 years$1,347$860$531$320$189$58
40 years$1,299$818$498$295$171$51
41 years$1,253$779$467$272$155$45
42 years$1,209$742$438$251$141$39
43 years$1,168$707$411$232$128$34
44 years$1,129$674$386$214$116$30
45 years$1,091$642$362$198$105$26
46 years$1,055$613$340$183$96$23
47 years$1,021$585$320$169$87$20
48 years$989$558$300$156$79$17
49 years$957$533$282$144$72$15
50 years$928$509$265$133$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $950,000, adding $5,228 every year, while hoping to spend $29,278 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: 81/9/10 Blend
56$950,000$950,000$950,000$950,000
57$1,052,293$1,001,943$987,218$1,135,432
58$1,128,475$1,019,886$989,138$1,208,630
59$1,211,447$1,037,728$990,141$1,284,569
60$1,301,869$1,055,432$990,166$1,367,047
61$1,400,471$1,072,959$989,147$1,456,705
62$1,508,053$1,090,268$987,018$1,554,246
63$1,625,497$1,107,314$983,706$1,660,446
64$1,753,775$1,124,049$979,137$1,776,161
65$1,893,955$1,140,423$973,234$1,902,331
66$2,047,215$1,156,380$965,913$2,039,994
67$2,214,849$1,171,861$957,089$2,190,291
68$2,398,285$1,186,803$946,673$2,354,481
69$2,599,093$1,201,140$934,570$2,533,950
70$2,819,003$1,214,798$920,681$2,730,225
71$3,059,921$1,227,703$904,903$2,944,989
72$3,323,943$1,239,771$887,128$3,180,096
73$3,613,381$1,250,915$867,242$3,437,588
74$3,930,780$1,261,043$845,128$3,719,716
75$4,278,941$1,270,056$820,661$4,028,960
76$4,660,952$1,277,848$793,713$4,368,051
77$5,080,213$1,284,306$764,146$4,740,001
78$5,540,470$1,289,313$731,820$5,148,127
79$6,045,848$1,292,739$696,587$5,596,085
80$6,600,893$1,294,452$658,291$6,087,903
81$7,210,611$1,294,307$616,771$6,628,021
82$7,880,518$1,292,153$571,857$7,221,329
83$8,616,690$1,287,827$523,373$7,873,218
84$9,425,821$1,281,159$471,134$8,589,628
85$10,315,285$1,271,966$414,948$9,377,105
86$11,293,207$1,260,056$354,612$10,242,863
87$12,368,539$1,245,224$289,916$11,194,851
88$13,551,143$1,227,252$220,641$12,241,828
89$14,851,884$1,205,912$146,557$13,393,450
90$16,282,735$1,180,960$67,425$14,660,353
91$17,856,885$1,152,138$0$16,054,263
92$19,588,867$1,119,173$0$17,589,916
93$21,494,695$1,081,776$0$19,287,529
94$23,592,012$1,039,641$0$21,155,620
95$25,900,258$992,445$0$23,211,512
96$28,440,854$939,844$0$25,474,293
97$31,237,402$881,477$0$27,964,996
98$34,315,909$816,961$0$30,706,799
99$37,705,030$745,892$0$33,725,243
100$41,436,343$667,839$0$37,048,473