Can I retire at age 57 with 970,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.5%
1 years$80,102$79,388$78,692$78,013$77,349$76,862
2 years$39,654$38,916$38,200$37,506$36,833$36,341
3 years$26,174$25,432$24,718$24,030$23,368$22,888
4 years$19,435$18,695$17,988$17,313$16,666$16,200
5 years$15,392$14,657$13,960$13,298$12,670$12,220
6 years$12,698$11,969$11,282$10,634$10,025$9,592
7 years$10,775$10,051$9,375$8,743$8,153$7,737
8 years$9,333$8,616$7,951$7,334$6,764$6,364
9 years$8,212$7,502$6,848$6,247$5,696$5,313
10 years$7,315$6,612$5,970$5,385$4,853$4,487
11 years$6,583$5,887$5,256$4,687$4,174$3,824
12 years$5,972$5,283$4,665$4,111$3,617$3,283
13 years$5,456$4,775$4,168$3,629$3,154$2,836
14 years$5,015$4,340$3,745$3,222$2,765$2,462
15 years$4,632$3,965$3,381$2,873$2,434$2,146
16 years$4,297$3,638$3,065$2,573$2,152$1,878
17 years$4,003$3,350$2,789$2,311$1,908$1,648
18 years$3,741$3,096$2,546$2,083$1,696$1,450
19 years$3,507$2,869$2,331$1,882$1,512$1,279
20 years$3,297$2,666$2,139$1,705$1,350$1,130
21 years$3,107$2,483$1,968$1,547$1,209$1,000
22 years$2,934$2,318$1,814$1,407$1,083$887
23 years$2,777$2,168$1,674$1,281$972$787
24 years$2,633$2,031$1,549$1,168$874$700
25 years$2,501$1,906$1,434$1,067$786$622
26 years$2,379$1,792$1,330$976$708$554
27 years$2,266$1,686$1,235$893$639$494
28 years$2,162$1,589$1,148$818$576$440
29 years$2,065$1,499$1,069$750$520$393
30 years$1,975$1,415$995$689$470$351
31 years$1,890$1,338$928$632$425$313
32 years$1,811$1,266$866$581$385$280
33 years$1,737$1,199$808$535$348$250
34 years$1,668$1,136$755$492$315$224
35 years$1,602$1,078$706$453$285$200
36 years$1,541$1,023$661$417$259$179
37 years$1,482$972$618$384$234$160
38 years$1,427$923$579$354$212$144
39 years$1,375$878$542$326$193$129
40 years$1,326$835$508$301$175$115
41 years$1,279$795$477$278$159$103
42 years$1,235$757$447$256$144$92
43 years$1,193$722$420$237$131$83
44 years$1,152$688$394$219$119$74
45 years$1,114$656$370$202$108$66
46 years$1,078$626$347$186$98$60
47 years$1,043$597$326$172$89$53
48 years$1,009$570$307$159$81$48
49 years$978$544$288$147$73$43
50 years$947$520$271$136$66$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $970,000, adding $6,925 every year, while hoping to spend $38,980 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: 71/7/22 Blend
56$970,000$970,000$970,000$970,000
57$1,076,083$1,024,673$1,009,638$1,146,158
58$1,144,369$1,033,408$1,001,987$1,202,534
59$1,218,314$1,041,264$992,772$1,258,980
60$1,298,454$1,048,157$981,902$1,319,830
61$1,385,377$1,053,998$969,277$1,385,515
62$1,479,733$1,058,692$954,795$1,456,512
63$1,582,235$1,062,137$938,350$1,533,348
64$1,693,666$1,064,224$919,827$1,616,603
65$1,814,889$1,064,841$899,111$1,706,916
66$1,946,854$1,063,864$876,078$1,804,994
67$2,090,605$1,061,165$850,598$1,911,616
68$2,247,292$1,056,607$822,538$2,027,640
69$2,418,179$1,050,044$791,756$2,154,013
70$2,604,659$1,041,322$758,106$2,291,780
71$2,808,264$1,030,277$721,432$2,442,093
72$3,030,682$1,016,736$681,575$2,606,223
73$3,273,770$1,000,514$638,366$2,785,572
74$3,539,572$981,417$591,630$2,981,686
75$3,830,341$959,239$541,181$3,196,268
76$4,148,554$933,760$486,829$3,431,200
77$4,496,942$904,750$428,374$3,688,555
78$4,878,511$871,963$365,605$3,970,618
79$5,296,570$835,140$298,303$4,279,912
80$5,754,765$794,007$226,242$4,619,217
81$6,257,112$748,274$149,182$4,991,598
82$6,808,032$697,634$66,874$5,400,438
83$7,412,395$641,763$0$5,849,464
84$8,075,567$580,317$0$6,347,708
85$8,803,457$512,934$0$6,911,853
86$9,602,572$439,230$0$7,531,250
87$10,480,085$358,803$0$8,211,479
88$11,443,892$271,222$0$8,958,687
89$12,502,694$176,038$0$9,779,648
90$13,666,078$72,773$0$10,681,827
91$14,944,602$0$0$11,673,449
92$16,349,900$0$0$12,766,586
93$17,894,789$0$0$13,974,522
94$19,593,388$0$0$15,302,698
95$21,461,253$0$0$16,763,285
96$23,515,526$0$0$18,369,693
97$25,775,088$0$0$20,136,696
98$28,260,747$0$0$22,080,573
99$30,995,426$0$0$24,219,258
100$34,004,383$0$0$26,572,512