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%18.2%
1 years$80,102$79,388$78,692$78,013$77,349$74,783
2 years$39,654$38,916$38,200$37,506$36,833$34,273
3 years$26,174$25,432$24,718$24,030$23,368$20,894
4 years$19,435$18,695$17,988$17,313$16,666$14,297
5 years$15,392$14,657$13,960$13,298$12,670$10,412
6 years$12,698$11,969$11,282$10,634$10,025$7,880
7 years$10,775$10,051$9,375$8,743$8,153$6,121
8 years$9,333$8,616$7,951$7,334$6,764$4,843
9 years$8,212$7,502$6,848$6,247$5,696$3,885
10 years$7,315$6,612$5,970$5,385$4,853$3,148
11 years$6,583$5,887$5,256$4,687$4,174$2,572
12 years$5,972$5,283$4,665$4,111$3,617$2,114
13 years$5,456$4,775$4,168$3,629$3,154$1,747
14 years$5,015$4,340$3,745$3,222$2,765$1,449
15 years$4,632$3,965$3,381$2,873$2,434$1,206
16 years$4,297$3,638$3,065$2,573$2,152$1,007
17 years$4,003$3,350$2,789$2,311$1,908$842
18 years$3,741$3,096$2,546$2,083$1,696$706
19 years$3,507$2,869$2,331$1,882$1,512$592
20 years$3,297$2,666$2,139$1,705$1,350$498
21 years$3,107$2,483$1,968$1,547$1,209$419
22 years$2,934$2,318$1,814$1,407$1,083$353
23 years$2,777$2,168$1,674$1,281$972$297
24 years$2,633$2,031$1,549$1,168$874$251
25 years$2,501$1,906$1,434$1,067$786$211
26 years$2,379$1,792$1,330$976$708$178
27 years$2,266$1,686$1,235$893$639$151
28 years$2,162$1,589$1,148$818$576$127
29 years$2,065$1,499$1,069$750$520$107
30 years$1,975$1,415$995$689$470$91
31 years$1,890$1,338$928$632$425$77
32 years$1,811$1,266$866$581$385$65
33 years$1,737$1,199$808$535$348$55
34 years$1,668$1,136$755$492$315$46
35 years$1,602$1,078$706$453$285$39
36 years$1,541$1,023$661$417$259$33
37 years$1,482$972$618$384$234$28
38 years$1,427$923$579$354$212$24
39 years$1,375$878$542$326$193$20
40 years$1,326$835$508$301$175$17
41 years$1,279$795$477$278$159$14
42 years$1,235$757$447$256$144$12
43 years$1,193$722$420$237$131$10
44 years$1,152$688$394$219$119$9
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$4
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 $6,340 every year, while hoping to spend $59,448 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: 72/15/13 Blend
56$970,000$970,000$970,000$970,000
57$1,075,480$1,024,070$1,009,035$1,149,478
58$1,121,926$1,010,997$979,585$1,186,259
59$1,171,118$995,291$947,157$1,218,632
60$1,223,272$976,761$911,586$1,252,493
61$1,278,626$955,202$872,705$1,287,977
62$1,337,440$930,400$830,334$1,325,233
63$1,399,997$902,128$784,288$1,364,425
64$1,466,607$870,143$734,373$1,405,736
65$1,537,613$834,192$680,386$1,449,368
66$1,613,385$794,003$622,114$1,495,547
67$1,694,332$749,291$559,337$1,544,521
68$1,780,902$699,754$491,823$1,596,568
69$1,873,586$645,074$419,331$1,651,995
70$1,972,920$584,911$341,607$1,711,140
71$2,079,496$518,910$258,389$1,774,382
72$2,193,961$446,692$169,401$1,842,137
73$2,317,025$367,861$74,356$1,914,869
74$2,449,469$281,994$0$1,993,091
75$2,592,150$188,646$0$2,081,126
76$2,746,009$87,349$0$2,187,098
77$2,912,079$0$0$2,301,426
78$3,091,497$0$0$2,428,623
79$3,285,511$0$0$2,581,796
80$3,495,492$0$0$2,747,614
81$3,722,949$0$0$2,927,274
82$3,969,541$0$0$3,122,090
83$4,237,092$0$0$3,333,508
84$4,527,606$0$0$3,563,120
85$4,843,290$0$0$3,812,675
86$5,186,570$0$0$4,084,096
87$5,560,117$0$0$4,379,503
88$5,966,868$0$0$4,701,223
89$6,410,056$0$0$5,051,823
90$6,893,237$0$0$5,434,122
91$7,420,328$0$0$5,851,227
92$7,995,638$0$0$6,306,555
93$8,623,909$0$0$6,803,869
94$9,310,366$0$0$7,347,313
95$10,060,755$0$0$7,941,445
96$10,881,407$0$0$8,591,286
97$11,779,291$0$0$9,302,366
98$12,762,081$0$0$10,080,771
99$13,838,226$0$0$10,933,205
100$15,017,032$0$0$11,867,049