Can I retire at age 57 with 962,000?

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 $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%16.1%
1 years$79,441$78,733$78,043$77,369$76,711$74,796
2 years$39,327$38,595$37,885$37,197$36,529$34,612
3 years$25,958$25,222$24,514$23,832$23,176$21,316
4 years$19,274$18,541$17,840$17,170$16,529$14,741
5 years$15,265$14,536$13,845$13,188$12,565$10,855
6 years$12,593$11,870$11,188$10,547$9,942$8,311
7 years$10,686$9,968$9,298$8,671$8,086$6,533
8 years$9,256$8,545$7,885$7,274$6,708$5,233
9 years$8,144$7,440$6,791$6,196$5,649$4,251
10 years$7,255$6,558$5,921$5,341$4,813$3,491
11 years$6,528$5,838$5,213$4,648$4,140$2,891
12 years$5,923$5,240$4,626$4,077$3,587$2,410
13 years$5,411$4,735$4,133$3,599$3,128$2,019
14 years$4,973$4,304$3,714$3,195$2,742$1,700
15 years$4,594$3,932$3,353$2,849$2,414$1,436
16 years$4,262$3,608$3,040$2,551$2,134$1,217
17 years$3,970$3,322$2,766$2,292$1,892$1,034
18 years$3,710$3,070$2,525$2,066$1,682$880
19 years$3,478$2,845$2,312$1,867$1,499$750
20 years$3,270$2,644$2,122$1,691$1,339$641
21 years$3,081$2,463$1,951$1,534$1,199$548
22 years$2,910$2,299$1,799$1,395$1,074$469
23 years$2,754$2,150$1,661$1,271$964$402
24 years$2,611$2,015$1,536$1,159$867$344
25 years$2,480$1,891$1,422$1,058$780$295
26 years$2,359$1,777$1,319$968$703$254
27 years$2,248$1,672$1,225$886$633$218
28 years$2,144$1,576$1,139$812$572$187
29 years$2,048$1,486$1,060$744$516$161
30 years$1,958$1,404$987$683$466$138
31 years$1,875$1,327$920$627$422$119
32 years$1,796$1,256$859$576$381$102
33 years$1,723$1,189$802$530$345$88
34 years$1,654$1,127$749$488$312$76
35 years$1,589$1,069$700$449$283$65
36 years$1,528$1,015$655$414$256$56
37 years$1,470$964$613$381$232$48
38 years$1,416$916$574$351$211$42
39 years$1,364$871$538$324$191$36
40 years$1,315$829$504$299$173$31
41 years$1,269$789$473$276$157$27
42 years$1,225$751$444$254$143$23
43 years$1,183$716$416$235$129$20
44 years$1,143$682$391$217$118$17
45 years$1,105$651$367$200$107$15
46 years$1,069$621$345$185$97$13
47 years$1,034$592$324$171$88$11
48 years$1,001$565$304$158$80$9
49 years$969$540$286$146$73$8
50 years$939$516$269$135$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $962,000, adding $6,183 every year, while hoping to spend $22,440 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: 47/39/14 Blend
56$962,000$962,000$962,000$962,000
57$1,066,502$1,015,516$1,000,605$1,112,162
58$1,151,409$1,041,400$1,010,249$1,170,294
59$1,244,225$1,067,801$1,019,464$1,230,555
60$1,345,732$1,094,719$1,028,212$1,295,463
61$1,456,792$1,122,156$1,036,454$1,365,461
62$1,578,355$1,150,112$1,044,145$1,441,032
63$1,711,467$1,178,587$1,051,243$1,522,713
64$1,857,277$1,207,578$1,057,701$1,611,092
65$2,017,054$1,237,085$1,063,468$1,706,818
66$2,192,194$1,267,102$1,068,495$1,810,605
67$2,384,235$1,297,627$1,072,726$1,923,240
68$2,594,869$1,328,653$1,076,105$2,045,589
69$2,825,962$1,360,173$1,078,571$2,178,607
70$3,079,569$1,392,181$1,080,062$2,323,347
71$3,357,953$1,424,665$1,080,512$2,480,966
72$3,663,606$1,457,616$1,079,851$2,652,741
73$3,999,275$1,491,020$1,078,007$2,840,080
74$4,367,985$1,524,864$1,074,904$3,044,532
75$4,773,068$1,559,130$1,070,461$3,267,805
76$5,218,194$1,593,802$1,064,596$3,511,782
77$5,707,410$1,628,857$1,057,219$3,778,534
78$6,245,169$1,664,275$1,048,240$4,070,349
79$6,836,382$1,700,030$1,037,561$4,389,745
80$7,486,456$1,736,094$1,025,082$4,739,496
81$8,201,349$1,772,438$1,010,697$5,122,662
82$8,987,626$1,809,027$994,296$5,542,613
83$9,852,521$1,845,826$975,761$6,003,063
84$10,804,002$1,882,795$954,973$6,508,107
85$11,850,849$1,919,891$931,804$7,062,256
86$13,002,738$1,957,068$906,121$7,670,482
87$14,270,326$1,994,273$877,785$8,338,267
88$15,665,360$2,031,453$846,652$9,071,650
89$17,200,780$2,068,548$812,568$9,877,286
90$18,890,846$2,105,494$775,376$10,762,514
91$20,751,270$2,142,220$734,908$11,735,417
92$22,799,364$2,178,654$690,992$12,804,908
93$25,054,205$2,214,713$643,446$13,980,808
94$27,536,813$2,250,313$592,080$15,273,942
95$30,270,350$2,285,360$536,697$16,696,240
96$33,280,338$2,319,755$477,089$18,260,849
97$36,594,901$2,353,392$413,039$19,982,263
98$40,245,028$2,386,155$344,324$21,876,452
99$44,264,868$2,417,924$270,706$23,961,020
100$48,692,049$2,448,567$191,939$26,255,366