Can I retire at age 57 with 953,000?

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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$78,698$77,997$77,313$76,645$75,994$75,231
2 years$38,959$38,234$37,531$36,849$36,187$35,420
3 years$25,715$24,986$24,285$23,609$22,959$22,209
4 years$19,094$18,367$17,673$17,009$16,374$15,649
5 years$15,122$14,400$13,715$13,065$12,448$11,748
6 years$12,476$11,759$11,084$10,448$9,849$9,177
7 years$10,586$9,875$9,211$8,590$8,010$7,365
8 years$9,169$8,465$7,811$7,206$6,645$6,028
9 years$8,068$7,370$6,728$6,138$5,596$5,006
10 years$7,187$6,496$5,866$5,291$4,768$4,205
11 years$6,467$5,783$5,164$4,605$4,101$3,564
12 years$5,868$5,191$4,583$4,039$3,554$3,042
13 years$5,361$4,691$4,095$3,566$3,099$2,613
14 years$4,927$4,264$3,679$3,165$2,716$2,255
15 years$4,551$3,895$3,322$2,823$2,392$1,954
16 years$4,222$3,574$3,012$2,528$2,114$1,699
17 years$3,933$3,291$2,740$2,271$1,874$1,482
18 years$3,675$3,041$2,502$2,047$1,667$1,296
19 years$3,446$2,819$2,290$1,849$1,485$1,135
20 years$3,239$2,619$2,102$1,675$1,327$997
21 years$3,052$2,440$1,933$1,520$1,187$876
22 years$2,883$2,277$1,782$1,382$1,064$772
23 years$2,728$2,130$1,645$1,259$955$680
24 years$2,587$1,996$1,521$1,148$859$601
25 years$2,457$1,873$1,409$1,048$773$530
26 years$2,337$1,760$1,307$959$696$469
27 years$2,227$1,657$1,214$877$628$415
28 years$2,124$1,561$1,128$804$566$367
29 years$2,029$1,473$1,050$737$511$325
30 years$1,940$1,391$978$677$462$288
31 years$1,857$1,315$912$621$418$256
32 years$1,779$1,244$851$571$378$227
33 years$1,707$1,178$794$525$342$201
34 years$1,638$1,117$742$483$310$179
35 years$1,574$1,059$694$445$280$159
36 years$1,514$1,005$649$410$254$141
37 years$1,456$955$607$377$230$125
38 years$1,402$907$569$348$209$111
39 years$1,351$863$533$321$189$99
40 years$1,303$821$500$296$172$88
41 years$1,257$781$468$273$156$78
42 years$1,213$744$439$252$141$69
43 years$1,172$709$412$233$128$62
44 years$1,132$676$387$215$116$55
45 years$1,095$644$363$198$106$49
46 years$1,059$615$341$183$96$43
47 years$1,024$587$321$169$87$39
48 years$992$560$301$156$79$34
49 years$960$535$283$145$72$30
50 years$930$511$266$134$65$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $953,000, adding $6,143 every year, while hoping to spend $44,322 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: 69/15/16 Blend
56$953,000$953,000$953,000$953,000
57$1,056,543$1,006,034$991,262$1,125,062
58$1,117,152$1,008,171$977,311$1,173,622
59$1,182,457$1,008,928$961,407$1,220,892
60$1,252,892$1,008,189$943,438$1,271,489
61$1,328,930$1,005,834$923,287$1,325,735
62$1,411,094$1,001,733$900,830$1,383,988
63$1,499,957$995,749$875,939$1,446,640
64$1,596,150$987,737$848,480$1,514,125
65$1,700,364$977,544$818,312$1,586,924
66$1,813,363$965,005$785,287$1,665,566
67$1,935,984$949,949$749,252$1,750,635
68$2,069,149$932,190$710,046$1,842,776
69$2,213,871$911,536$667,501$1,942,703
70$2,371,265$887,780$621,442$2,051,201
71$2,542,558$860,706$571,684$2,169,140
72$2,729,099$830,081$518,036$2,297,477
73$2,932,375$795,662$460,298$2,437,271
74$3,154,019$757,192$398,260$2,589,690
75$3,395,831$714,397$331,704$2,756,022
76$3,659,792$666,987$260,401$2,937,691
77$3,948,080$614,659$184,114$3,136,266
78$4,263,095$557,089$102,593$3,353,481
79$4,607,481$493,936$15,579$3,591,249
80$4,984,144$424,839$0$3,851,678
81$5,396,288$349,417$0$4,150,292
82$5,847,439$267,268$0$4,480,163
83$6,341,480$177,967$0$4,841,513
84$6,882,688$81,065$0$5,237,524
85$7,475,772$0$0$5,671,702
86$8,125,919$0$0$6,151,858
87$8,838,841$0$0$6,693,101
88$9,620,829$0$0$7,286,834
89$10,478,814$0$0$7,938,326
90$11,420,428$0$0$8,653,379
91$12,454,079$0$0$9,438,386
92$13,589,028$0$0$10,300,389
93$14,835,478$0$0$11,247,143
94$16,204,668$0$0$12,287,193
95$17,708,978$0$0$13,429,953
96$19,362,048$0$0$14,685,793
97$21,178,904$0$0$16,066,137
98$23,176,099$0$0$17,583,572
99$25,371,873$0$0$19,251,964
100$27,786,318$0$0$21,086,589