Can I retire at age 57 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$79,276$78,570$77,881$77,208$76,552$75,942
2 years$39,245$38,515$37,806$37,119$36,453$35,839
3 years$25,904$25,170$24,463$23,783$23,127$22,527
4 years$19,234$18,502$17,803$17,134$16,495$15,913
5 years$15,234$14,506$13,816$13,161$12,539$11,978
6 years$12,567$11,845$11,165$10,525$9,922$9,382
7 years$10,664$9,948$9,278$8,653$8,069$7,550
8 years$9,236$8,527$7,869$7,259$6,694$6,197
9 years$8,127$7,424$6,777$6,183$5,637$5,161
10 years$7,240$6,544$5,909$5,330$4,803$4,348
11 years$6,515$5,826$5,202$4,638$4,131$3,697
12 years$5,911$5,229$4,617$4,068$3,580$3,166
13 years$5,400$4,725$4,125$3,592$3,122$2,728
14 years$4,963$4,295$3,706$3,188$2,736$2,362
15 years$4,584$3,924$3,346$2,844$2,409$2,054
16 years$4,253$3,600$3,034$2,546$2,129$1,792
17 years$3,961$3,316$2,760$2,288$1,888$1,568
18 years$3,702$3,064$2,520$2,062$1,679$1,376
19 years$3,471$2,839$2,307$1,863$1,496$1,210
20 years$3,263$2,639$2,117$1,687$1,337$1,066
21 years$3,075$2,458$1,947$1,531$1,196$941
22 years$2,904$2,294$1,795$1,392$1,072$832
23 years$2,748$2,146$1,657$1,268$962$736
24 years$2,606$2,010$1,533$1,156$865$652
25 years$2,475$1,887$1,420$1,056$778$578
26 years$2,354$1,773$1,317$966$701$513
27 years$2,243$1,669$1,223$884$632$456
28 years$2,140$1,572$1,136$810$570$405
29 years$2,044$1,483$1,058$743$515$361
30 years$1,954$1,401$985$682$465$321
31 years$1,871$1,324$918$626$421$286
32 years$1,792$1,253$857$575$381$254
33 years$1,719$1,187$800$529$344$227
34 years$1,650$1,125$748$487$312$202
35 years$1,586$1,067$699$448$282$180
36 years$1,525$1,013$654$413$256$161
37 years$1,467$962$612$380$232$143
38 years$1,413$914$573$350$210$128
39 years$1,361$869$537$323$191$114
40 years$1,312$827$503$298$173$102
41 years$1,266$787$472$275$157$91
42 years$1,222$750$443$254$142$81
43 years$1,180$714$415$234$129$72
44 years$1,141$681$390$216$117$65
45 years$1,103$649$366$200$106$58
46 years$1,067$619$344$185$97$52
47 years$1,032$591$323$170$88$46
48 years$999$564$304$158$80$41
49 years$967$539$285$146$72$37
50 years$937$515$268$135$66$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $960,000, adding $2,586 every year, while hoping to spend $41,028 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: 28/44/28 Blend
56$960,000$960,000$960,000$960,000
57$1,060,587$1,009,707$994,827$1,081,020
58$1,125,114$1,015,530$984,501$1,103,385
59$1,194,847$1,020,262$972,453$1,123,682
60$1,270,274$1,023,808$958,583$1,144,663
61$1,351,932$1,026,064$942,786$1,166,417
62$1,440,410$1,026,922$924,950$1,189,042
63$1,536,356$1,026,266$904,960$1,212,652
64$1,640,483$1,023,971$882,694$1,237,374
65$1,753,574$1,019,908$858,026$1,263,354
66$1,876,492$1,013,937$830,824$1,290,756
67$2,010,186$1,005,911$800,948$1,319,763
68$2,155,698$995,674$768,253$1,350,584
69$2,314,177$983,060$732,588$1,383,453
70$2,486,888$967,894$693,793$1,418,634
71$2,675,219$949,990$651,705$1,456,421
72$2,880,703$929,151$606,148$1,497,145
73$3,105,023$905,168$556,942$1,541,179
74$3,350,034$877,820$503,899$1,588,937
75$3,617,778$846,873$446,819$1,640,885
76$3,910,502$812,080$385,498$1,697,543
77$4,230,680$773,179$319,720$1,759,490
78$4,581,038$729,894$249,259$1,827,375
79$4,964,575$681,930$173,881$1,901,921
80$5,384,596$628,979$93,340$1,983,932
81$5,844,739$570,713$7,380$2,074,307
82$6,349,010$506,785$0$2,174,045
83$6,901,821$436,830$0$2,309,460
84$7,508,034$360,462$0$2,460,578
85$8,173,001$277,272$0$2,626,655
86$8,902,617$186,828$0$2,809,310
87$9,703,378$88,676$0$3,010,336
88$10,582,435$0$0$3,231,718
89$11,547,670$0$0$3,484,205
90$12,607,763$0$0$3,808,820
91$13,772,275$0$0$4,165,577
92$15,051,741$0$0$4,557,723
93$16,457,765$0$0$4,988,837
94$18,003,132$0$0$5,462,860
95$19,701,927$0$0$5,984,137
96$21,569,667$0$0$6,557,451
97$23,623,448$0$0$7,188,076
98$25,882,105$0$0$7,881,820
99$28,366,391$0$0$8,645,084
100$31,099,170$0$0$9,484,919