Can I retire at age 57 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$79,771$79,061$78,368$77,691$77,030$74,416
2 years$39,491$38,755$38,043$37,351$36,681$34,073
3 years$26,066$25,327$24,616$23,931$23,272$20,753
4 years$19,354$18,618$17,914$17,241$16,598$14,186
5 years$15,329$14,597$13,902$13,243$12,617$10,320
6 years$12,646$11,919$11,235$10,590$9,984$7,802
7 years$10,730$10,010$9,336$8,707$8,119$6,054
8 years$9,294$8,580$7,918$7,304$6,736$4,784
9 years$8,178$7,471$6,820$6,221$5,673$3,833
10 years$7,285$6,585$5,946$5,363$4,833$3,102
11 years$6,555$5,862$5,234$4,667$4,157$2,531
12 years$5,948$5,262$4,645$4,094$3,602$2,078
13 years$5,434$4,755$4,150$3,614$3,141$1,715
14 years$4,994$4,322$3,729$3,208$2,754$1,420
15 years$4,613$3,948$3,367$2,861$2,424$1,181
16 years$4,280$3,623$3,053$2,562$2,143$984
17 years$3,986$3,336$2,778$2,302$1,900$822
18 years$3,725$3,083$2,536$2,075$1,689$688
19 years$3,493$2,857$2,321$1,874$1,506$576
20 years$3,283$2,655$2,130$1,698$1,345$484
21 years$3,094$2,473$1,960$1,541$1,204$406
22 years$2,922$2,308$1,806$1,401$1,079$342
23 years$2,766$2,159$1,668$1,276$968$287
24 years$2,622$2,023$1,542$1,164$870$242
25 years$2,490$1,898$1,428$1,063$783$204
26 years$2,369$1,784$1,325$972$706$172
27 years$2,257$1,679$1,230$889$636$145
28 years$2,153$1,582$1,144$815$574$122
29 years$2,056$1,493$1,064$747$518$103
30 years$1,966$1,410$991$686$468$87
31 years$1,882$1,333$924$630$423$73
32 years$1,804$1,261$862$579$383$62
33 years$1,730$1,194$805$532$347$52
34 years$1,661$1,132$752$490$314$44
35 years$1,596$1,073$703$451$284$37
36 years$1,534$1,019$658$415$258$31
37 years$1,476$968$616$383$233$27
38 years$1,422$920$577$353$212$22
39 years$1,370$874$540$325$192$19
40 years$1,321$832$506$300$174$16
41 years$1,274$792$475$277$158$13
42 years$1,230$754$445$255$143$11
43 years$1,188$719$418$236$130$10
44 years$1,148$685$392$218$118$8
45 years$1,110$653$368$201$107$7
46 years$1,073$623$346$186$97$6
47 years$1,038$595$325$172$88$5
48 years$1,005$568$305$159$80$4
49 years$974$542$287$146$73$3
50 years$943$518$270$135$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $966,000, adding $2,834 every year, while hoping to spend $28,147 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: 54/27/19 Blend
56$966,000$966,000$966,000$966,000
57$1,067,455$1,016,257$1,001,284$1,119,455
58$1,146,388$1,036,106$1,004,879$1,175,208
59$1,232,427$1,055,983$1,007,651$1,232,653
60$1,326,270$1,075,862$1,009,543$1,294,572
61$1,428,682$1,095,711$1,010,494$1,361,398
62$1,540,503$1,115,497$1,010,442$1,433,612
63$1,662,663$1,135,184$1,009,320$1,511,742
64$1,796,181$1,154,735$1,007,059$1,596,372
65$1,942,182$1,174,108$1,003,586$1,688,144
66$2,101,903$1,193,257$998,824$1,787,767
67$2,276,707$1,212,136$992,694$1,896,023
68$2,468,093$1,230,693$985,111$2,013,773
69$2,677,714$1,248,872$975,988$2,141,968
70$2,907,390$1,266,616$965,233$2,281,656
71$3,159,124$1,283,860$952,748$2,433,992
72$3,435,122$1,300,538$938,434$2,600,252
73$3,737,817$1,316,576$922,183$2,781,840
74$4,069,884$1,331,898$903,886$2,980,305
75$4,434,273$1,346,422$883,427$3,197,357
76$4,834,231$1,360,058$860,683$3,434,880
77$5,273,335$1,372,715$835,530$3,694,951
78$5,755,528$1,384,290$807,833$3,979,861
79$6,285,151$1,394,679$777,454$4,292,137
80$6,866,986$1,403,768$744,248$4,634,564
81$7,506,301$1,411,435$708,063$5,010,213
82$8,208,902$1,417,553$668,741$5,422,472
83$8,981,181$1,421,985$626,115$5,875,073
84$9,830,185$1,424,586$580,014$6,372,136
85$10,763,675$1,425,201$530,255$6,918,198
86$11,790,201$1,423,667$476,649$7,518,265
87$12,919,184$1,419,810$419,000$8,177,855
88$14,161,005$1,413,445$357,101$8,903,053
89$15,527,099$1,404,376$290,736$9,700,567
90$17,030,068$1,392,395$219,680$10,577,792
91$18,683,795$1,377,282$143,699$11,542,881
92$20,503,577$1,358,803$62,547$12,604,824
93$22,506,268$1,336,711$0$13,773,529
94$24,710,441$1,310,743$0$15,064,800
95$27,136,558$1,280,622$0$16,499,652
96$29,807,167$1,246,052$0$18,078,725
97$32,747,112$1,206,723$0$19,816,716
98$35,983,770$1,162,305$0$21,729,821
99$39,547,305$1,112,449$0$23,835,892
100$43,470,957$1,056,785$0$26,154,603