Can I retire at age 57 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$80,102$79,388$78,692$78,013$77,349$74,694
2 years$39,654$38,916$38,200$37,506$36,833$34,185
3 years$26,174$25,432$24,718$24,030$23,368$20,811
4 years$19,435$18,695$17,988$17,313$16,666$14,219
5 years$15,392$14,657$13,960$13,298$12,670$10,338
6 years$12,698$11,969$11,282$10,634$10,025$7,812
7 years$10,775$10,051$9,375$8,743$8,153$6,058
8 years$9,333$8,616$7,951$7,334$6,764$4,784
9 years$8,212$7,502$6,848$6,247$5,696$3,830
10 years$7,315$6,612$5,970$5,385$4,853$3,098
11 years$6,583$5,887$5,256$4,687$4,174$2,526
12 years$5,972$5,283$4,665$4,111$3,617$2,073
13 years$5,456$4,775$4,168$3,629$3,154$1,709
14 years$5,015$4,340$3,745$3,222$2,765$1,415
15 years$4,632$3,965$3,381$2,873$2,434$1,175
16 years$4,297$3,638$3,065$2,573$2,152$979
17 years$4,003$3,350$2,789$2,311$1,908$817
18 years$3,741$3,096$2,546$2,083$1,696$683
19 years$3,507$2,869$2,331$1,882$1,512$572
20 years$3,297$2,666$2,139$1,705$1,350$480
21 years$3,107$2,483$1,968$1,547$1,209$403
22 years$2,934$2,318$1,814$1,407$1,083$338
23 years$2,777$2,168$1,674$1,281$972$284
24 years$2,633$2,031$1,549$1,168$874$239
25 years$2,501$1,906$1,434$1,067$786$201
26 years$2,379$1,792$1,330$976$708$169
27 years$2,266$1,686$1,235$893$639$143
28 years$2,162$1,589$1,148$818$576$120
29 years$2,065$1,499$1,069$750$520$101
30 years$1,975$1,415$995$689$470$85
31 years$1,890$1,338$928$632$425$72
32 years$1,811$1,266$866$581$385$61
33 years$1,737$1,199$808$535$348$51
34 years$1,668$1,136$755$492$315$43
35 years$1,602$1,078$706$453$285$36
36 years$1,541$1,023$661$417$259$31
37 years$1,482$972$618$384$234$26
38 years$1,427$923$579$354$212$22
39 years$1,375$878$542$326$193$18
40 years$1,326$835$508$301$175$16
41 years$1,279$795$477$278$159$13
42 years$1,235$757$447$256$144$11
43 years$1,193$722$420$237$131$9
44 years$1,152$688$394$219$119$8
45 years$1,114$656$370$202$108$7
46 years$1,078$626$347$186$98$6
47 years$1,043$597$326$172$89$5
48 years$1,009$570$307$159$81$4
49 years$978$544$288$147$73$3
50 years$947$520$271$136$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $970,000, adding $5,594 every year, while hoping to spend $26,659 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: 65/29/6 Blend
56$970,000$970,000$970,000$970,000
57$1,074,710$1,023,300$1,008,265$1,143,159
58$1,155,966$1,045,077$1,013,677$1,211,140
59$1,244,616$1,067,027$1,018,377$1,281,683
60$1,341,386$1,089,131$1,022,312$1,358,044
61$1,447,077$1,111,368$1,025,429$1,440,786
62$1,562,568$1,133,714$1,027,670$1,530,530
63$1,688,826$1,156,143$1,028,974$1,627,957
64$1,826,920$1,178,628$1,029,278$1,733,818
65$1,978,024$1,201,138$1,028,516$1,848,943
66$2,143,430$1,223,641$1,026,619$1,974,243
67$2,324,562$1,246,102$1,023,513$2,110,722
68$2,522,988$1,268,482$1,019,121$2,259,489
69$2,740,435$1,290,740$1,013,365$2,421,761
70$2,978,806$1,312,832$1,006,158$2,598,883
71$3,240,194$1,334,710$997,414$2,792,336
72$3,526,906$1,356,323$987,040$3,003,749
73$3,841,483$1,377,616$974,939$3,234,922
74$4,186,725$1,398,530$961,010$3,487,834
75$4,565,713$1,419,001$945,146$3,764,669
76$4,981,845$1,438,960$927,237$4,067,830
77$5,438,861$1,458,337$907,167$4,399,969
78$5,940,881$1,477,052$884,814$4,764,007
79$6,492,446$1,495,023$860,051$5,163,161
80$7,098,557$1,512,161$832,744$5,600,980
81$7,764,724$1,528,370$802,755$6,081,373
82$8,497,016$1,543,551$769,937$6,608,648
83$9,302,122$1,557,595$734,140$7,187,552
84$10,187,407$1,570,386$695,203$7,823,319
85$11,160,991$1,581,803$652,961$8,521,716
86$12,231,816$1,591,716$607,239$9,289,099
87$13,409,736$1,599,985$557,856$10,132,472
88$14,705,608$1,606,462$504,623$11,059,556
89$16,131,393$1,610,992$447,340$12,078,858
90$17,700,271$1,613,407$385,802$13,199,757
91$19,426,764$1,613,529$319,792$14,432,587
92$21,326,873$1,611,171$249,084$15,788,738
93$23,418,228$1,606,133$173,443$17,280,764
94$25,720,256$1,598,202$92,622$18,922,501
95$28,254,362$1,587,153$6,365$20,729,196
96$31,044,132$1,572,749$0$22,717,656
97$34,115,555$1,554,735$0$24,911,888
98$37,497,268$1,532,844$0$27,327,611
99$41,220,827$1,506,790$0$29,986,934
100$45,321,002$1,476,274$0$32,914,671