Can I retire at age 57 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$79,854$79,143$78,449$77,771$77,110$76,273
2 years$39,532$38,795$38,082$37,390$36,719$35,876
3 years$26,093$25,353$24,642$23,956$23,296$22,474
4 years$19,374$18,637$17,933$17,259$16,615$15,819
5 years$15,345$14,612$13,917$13,257$12,630$11,864
6 years$12,659$11,932$11,247$10,601$9,994$9,257
7 years$10,741$10,020$9,346$8,716$8,128$7,422
8 years$9,304$8,589$7,926$7,312$6,743$6,067
9 years$8,186$7,478$6,827$6,228$5,678$5,032
10 years$7,293$6,592$5,952$5,369$4,838$4,222
11 years$6,562$5,868$5,240$4,672$4,161$3,574
12 years$5,954$5,267$4,650$4,098$3,606$3,047
13 years$5,440$4,760$4,155$3,618$3,144$2,613
14 years$4,999$4,327$3,733$3,212$2,756$2,252
15 years$4,618$3,952$3,370$2,864$2,427$1,949
16 years$4,284$3,626$3,056$2,565$2,145$1,693
17 years$3,990$3,340$2,781$2,304$1,902$1,474
18 years$3,729$3,086$2,538$2,077$1,691$1,287
19 years$3,496$2,860$2,324$1,876$1,507$1,126
20 years$3,287$2,658$2,133$1,699$1,346$987
21 years$3,097$2,476$1,962$1,542$1,205$867
22 years$2,925$2,311$1,808$1,402$1,080$762
23 years$2,768$2,161$1,669$1,277$969$671
24 years$2,625$2,025$1,544$1,165$871$591
25 years$2,493$1,900$1,430$1,064$784$521
26 years$2,372$1,786$1,326$973$706$460
27 years$2,259$1,681$1,231$890$637$407
28 years$2,155$1,584$1,145$816$575$359
29 years$2,059$1,494$1,065$748$519$318
30 years$1,968$1,411$992$687$469$281
31 years$1,884$1,334$925$631$424$249
32 years$1,806$1,262$863$579$383$220
33 years$1,732$1,195$806$533$347$195
34 years$1,662$1,133$753$490$314$173
35 years$1,597$1,075$704$451$285$153
36 years$1,536$1,020$659$416$258$136
37 years$1,478$969$616$383$234$121
38 years$1,423$921$577$353$212$107
39 years$1,371$875$541$325$192$95
40 years$1,322$833$507$300$174$84
41 years$1,275$793$475$277$158$75
42 years$1,231$755$446$256$143$66
43 years$1,189$719$418$236$130$59
44 years$1,149$686$393$218$118$52
45 years$1,111$654$369$201$107$46
46 years$1,074$624$346$186$97$41
47 years$1,040$595$325$172$88$36
48 years$1,006$568$306$159$80$32
49 years$975$543$287$147$73$29
50 years$944$518$270$136$66$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $967,000, adding $2,142 every year, while hoping to spend $53,369 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: 38/37/25 Blend
56$967,000$967,000$967,000$967,000
57$1,067,843$1,016,592$1,001,604$1,100,385
58$1,119,979$1,009,621$978,374$1,117,360
59$1,175,644$1,000,520$952,576$1,130,589
60$1,235,142$989,127$924,069$1,143,838
61$1,298,805$975,273$892,705$1,157,141
62$1,366,999$958,778$858,326$1,170,541
63$1,440,124$939,449$820,771$1,184,089
64$1,518,619$917,084$779,869$1,197,847
65$1,602,965$891,468$735,442$1,211,888
66$1,693,693$862,375$687,304$1,226,297
67$1,791,383$829,564$635,262$1,241,173
68$1,896,672$792,781$579,111$1,256,634
69$2,010,261$751,757$518,640$1,272,813
70$2,132,921$706,206$453,628$1,289,865
71$2,265,497$655,828$383,842$1,307,967
72$2,408,918$600,304$309,042$1,327,324
73$2,564,208$539,299$228,974$1,348,168
74$2,732,488$472,456$143,377$1,370,763
75$2,914,996$399,400$51,973$1,395,410
76$3,113,088$319,733$0$1,422,450
77$3,328,260$233,037$0$1,464,424
78$3,562,155$138,869$0$1,525,197
79$3,816,582$36,760$0$1,591,467
80$4,093,529$0$0$1,663,874
81$4,395,186$0$0$1,773,172
82$4,723,961$0$0$1,908,728
83$5,082,507$0$0$2,056,684
84$5,473,740$0$0$2,218,260
85$5,900,872$0$0$2,394,797
86$6,367,440$0$0$2,587,775
87$6,877,335$0$0$2,798,821
88$7,434,843$0$0$3,029,727
89$8,044,680$0$0$3,282,467
90$8,712,043$0$0$3,559,213
91$9,442,652$0$0$3,862,357
92$10,242,805$0$0$4,194,536
93$11,119,438$0$0$4,558,651
94$12,080,193$0$0$4,957,898
95$13,133,481$0$0$5,395,798
96$14,288,570$0$0$5,876,228
97$15,555,665$0$0$6,403,458
98$16,946,009$0$0$6,982,193
99$18,471,982$0$0$7,617,615
100$20,147,226$0$0$8,315,432