Can I retire at age 57 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$80,184$79,470$78,773$78,093$77,429$76,398
2 years$39,695$38,956$38,239$37,545$36,871$35,834
3 years$26,201$25,458$24,743$24,055$23,392$22,382
4 years$19,455$18,714$18,007$17,330$16,684$15,707
5 years$15,408$14,672$13,974$13,311$12,683$11,743
6 years$12,711$11,981$11,293$10,645$10,035$9,133
7 years$10,786$10,062$9,385$8,752$8,161$7,298
8 years$9,342$8,625$7,959$7,342$6,771$5,945
9 years$8,220$7,509$6,855$6,254$5,702$4,914
10 years$7,323$6,619$5,976$5,391$4,858$4,108
11 years$6,589$5,893$5,261$4,692$4,178$3,464
12 years$5,979$5,289$4,669$4,115$3,621$2,942
13 years$5,462$4,780$4,172$3,633$3,157$2,514
14 years$5,020$4,345$3,748$3,225$2,768$2,158
15 years$4,637$3,969$3,384$2,876$2,437$1,860
16 years$4,302$3,641$3,068$2,575$2,154$1,608
17 years$4,007$3,354$2,792$2,314$1,910$1,395
18 years$3,745$3,099$2,549$2,085$1,698$1,213
19 years$3,511$2,872$2,333$1,884$1,513$1,056
20 years$3,300$2,669$2,141$1,707$1,352$922
21 years$3,110$2,486$1,970$1,549$1,210$806
22 years$2,937$2,320$1,815$1,408$1,084$705
23 years$2,780$2,170$1,676$1,282$973$618
24 years$2,636$2,033$1,550$1,170$875$542
25 years$2,503$1,908$1,436$1,068$787$476
26 years$2,381$1,793$1,332$977$709$418
27 years$2,269$1,688$1,237$894$639$368
28 years$2,164$1,590$1,150$819$577$323
29 years$2,067$1,500$1,070$751$521$285
30 years$1,977$1,417$996$689$471$251
31 years$1,892$1,339$929$633$426$221
32 years$1,813$1,267$867$582$385$194
33 years$1,739$1,200$809$535$348$171
34 years$1,669$1,138$756$492$315$151
35 years$1,604$1,079$707$453$286$133
36 years$1,542$1,024$661$417$259$118
37 years$1,484$973$619$385$235$104
38 years$1,429$924$580$354$213$91
39 years$1,377$879$543$327$193$81
40 years$1,328$836$509$301$175$71
41 years$1,281$796$477$278$159$63
42 years$1,236$758$448$257$144$56
43 years$1,194$722$420$237$131$49
44 years$1,154$689$394$219$119$43
45 years$1,115$657$370$202$108$38
46 years$1,079$626$348$187$98$34
47 years$1,044$598$327$172$89$30
48 years$1,010$571$307$159$81$26
49 years$979$545$289$147$73$23
50 years$948$521$271$136$67$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $971,000, adding $4,661 every year, while hoping to spend $32,843 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: 68/10/22 Blend
56$971,000$971,000$971,000$971,000
57$1,074,850$1,023,387$1,008,336$1,141,676
58$1,149,540$1,038,588$1,007,171$1,202,220
59$1,230,747$1,053,433$1,004,866$1,264,197
60$1,319,103$1,067,871$1,001,348$1,331,214
61$1,415,299$1,081,844$996,541$1,403,768
62$1,520,099$1,095,295$990,365$1,482,407
63$1,634,343$1,108,158$982,736$1,567,733
64$1,758,955$1,120,366$973,566$1,660,412
65$1,894,950$1,131,846$962,762$1,761,178
66$2,043,450$1,142,521$950,230$1,870,840
67$2,205,686$1,152,309$935,866$1,990,289
68$2,383,015$1,161,121$919,567$2,120,509
69$2,576,930$1,168,863$901,220$2,262,585
70$2,789,076$1,175,437$880,710$2,417,712
71$3,021,265$1,180,736$857,917$2,587,208
72$3,275,489$1,184,647$832,712$2,772,527
73$3,553,944$1,187,051$804,964$2,975,272
74$3,859,050$1,187,819$774,533$3,197,211
75$4,193,468$1,186,817$741,275$3,440,291
76$4,560,132$1,183,902$705,038$3,706,661
77$4,962,272$1,178,919$665,663$3,998,690
78$5,403,445$1,171,708$622,985$4,318,990
79$5,887,572$1,162,097$576,830$4,670,440
80$6,418,968$1,149,904$527,018$5,056,215
81$7,002,389$1,134,935$473,359$5,479,814
82$7,643,073$1,116,987$415,656$5,945,097
83$8,346,789$1,095,842$353,703$6,456,319
84$9,119,894$1,071,271$287,285$7,018,169
85$9,969,390$1,043,030$216,176$7,635,818
86$10,902,992$1,010,863$140,142$8,314,967
87$11,929,198$974,496$58,937$9,061,901
88$13,057,371$933,641$0$9,883,547
89$14,297,827$887,993$0$10,794,050
90$15,661,930$837,230$0$11,810,510
91$17,162,202$781,010$0$12,928,423
92$18,812,439$718,971$0$14,158,090
93$20,627,840$650,733$0$15,510,861
94$22,625,153$575,892$0$16,999,241
95$24,822,830$494,022$0$18,637,014
96$27,241,202$404,673$0$20,439,368
97$29,902,671$307,368$0$22,423,037
98$32,831,920$201,606$0$24,606,467
99$36,056,147$86,856$0$27,009,982
100$39,605,319$0$0$29,655,978