Can I retire at age 57 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$79,441$78,733$78,043$77,369$76,711$74,375
2 years$39,327$38,595$37,885$37,197$36,529$34,195
3 years$25,958$25,222$24,514$23,832$23,176$20,918
4 years$19,274$18,541$17,840$17,170$16,529$14,364
5 years$15,265$14,536$13,845$13,188$12,565$10,499
6 years$12,593$11,870$11,188$10,547$9,942$7,977
7 years$10,686$9,968$9,298$8,671$8,086$6,221
8 years$9,256$8,545$7,885$7,274$6,708$4,943
9 years$8,144$7,440$6,791$6,196$5,649$3,981
10 years$7,255$6,558$5,921$5,341$4,813$3,241
11 years$6,528$5,838$5,213$4,648$4,140$2,659
12 years$5,923$5,240$4,626$4,077$3,587$2,197
13 years$5,411$4,735$4,133$3,599$3,128$1,824
14 years$4,973$4,304$3,714$3,195$2,742$1,520
15 years$4,594$3,932$3,353$2,849$2,414$1,272
16 years$4,262$3,608$3,040$2,551$2,134$1,067
17 years$3,970$3,322$2,766$2,292$1,892$897
18 years$3,710$3,070$2,525$2,066$1,682$756
19 years$3,478$2,845$2,312$1,867$1,499$638
20 years$3,270$2,644$2,122$1,691$1,339$539
21 years$3,081$2,463$1,951$1,534$1,199$456
22 years$2,910$2,299$1,799$1,395$1,074$386
23 years$2,754$2,150$1,661$1,271$964$327
24 years$2,611$2,015$1,536$1,159$867$277
25 years$2,480$1,891$1,422$1,058$780$235
26 years$2,359$1,777$1,319$968$703$200
27 years$2,248$1,672$1,225$886$633$169
28 years$2,144$1,576$1,139$812$572$144
29 years$2,048$1,486$1,060$744$516$122
30 years$1,958$1,404$987$683$466$104
31 years$1,875$1,327$920$627$422$88
32 years$1,796$1,256$859$576$381$75
33 years$1,723$1,189$802$530$345$64
34 years$1,654$1,127$749$488$312$54
35 years$1,589$1,069$700$449$283$46
36 years$1,528$1,015$655$414$256$39
37 years$1,470$964$613$381$232$33
38 years$1,416$916$574$351$211$28
39 years$1,364$871$538$324$191$24
40 years$1,315$829$504$299$173$21
41 years$1,269$789$473$276$157$18
42 years$1,225$751$444$254$143$15
43 years$1,183$716$416$235$129$13
44 years$1,143$682$391$217$118$11
45 years$1,105$651$367$200$107$9
46 years$1,069$621$345$185$97$8
47 years$1,034$592$324$171$88$7
48 years$1,001$565$304$158$80$6
49 years$969$540$286$146$73$5
50 years$939$516$269$135$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $962,000, adding $6,194 every year, while hoping to spend $21,465 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: 28/48/24 Blend
56$962,000$962,000$962,000$962,000
57$1,066,513$1,015,527$1,000,616$1,088,230
58$1,152,459$1,042,449$1,011,298$1,132,712
59$1,246,452$1,069,971$1,021,619$1,178,176
60$1,349,290$1,098,100$1,031,543$1,226,577
61$1,461,852$1,126,841$1,041,034$1,278,181
62$1,585,105$1,156,201$1,050,053$1,333,280
63$1,720,117$1,186,186$1,058,561$1,392,196
64$1,868,059$1,216,799$1,066,513$1,455,283
65$2,030,225$1,248,046$1,073,865$1,522,930
66$2,208,038$1,279,930$1,080,569$1,595,567
67$2,403,065$1,312,455$1,086,576$1,673,667
68$2,617,035$1,345,622$1,091,834$1,757,751
69$2,851,848$1,379,433$1,096,286$1,848,393
70$3,109,601$1,413,890$1,099,875$1,946,225
71$3,392,600$1,448,990$1,102,541$2,051,946
72$3,703,389$1,484,735$1,104,220$2,166,322
73$4,044,768$1,521,120$1,104,845$2,290,200
74$4,419,822$1,558,142$1,104,344$2,424,513
75$4,831,949$1,595,797$1,102,646$2,570,288
76$5,284,895$1,634,077$1,099,671$2,728,660
77$5,782,784$1,672,977$1,095,340$2,900,876
78$6,330,161$1,712,485$1,089,566$3,088,314
79$6,932,032$1,752,592$1,082,262$3,292,491
80$7,593,914$1,793,285$1,073,333$3,515,079
81$8,321,886$1,834,547$1,062,681$3,757,922
82$9,122,642$1,876,364$1,050,205$4,023,052
83$10,003,560$1,918,715$1,035,796$4,312,710
84$10,972,771$1,961,579$1,019,342$4,629,366
85$12,039,229$2,004,933$1,000,726$4,975,741
86$13,212,804$2,048,748$979,824$5,354,836
87$14,504,370$2,092,996$956,508$5,769,961
88$15,925,907$2,137,644$930,642$6,224,762
89$17,490,616$2,182,655$902,085$6,723,259
90$19,213,044$2,227,991$870,690$7,269,885
91$21,109,219$2,273,607$836,303$7,869,524
92$23,196,802$2,319,456$798,761$8,527,563
93$25,495,253$2,365,486$757,897$9,249,939
94$28,026,016$2,411,642$713,534$10,043,196
95$30,812,719$2,457,863$665,487$10,914,549
96$33,881,400$2,504,081$613,565$11,871,950
97$37,260,749$2,550,227$557,565$12,924,168
98$40,982,379$2,596,223$497,277$14,080,865
99$45,081,129$2,641,984$432,483$15,352,695
100$49,595,385$2,687,423$362,952$16,751,401