Can I retire at age 57 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$80,349$79,634$78,935$78,254$77,588$76,084
2 years$39,777$39,036$38,318$37,622$36,947$35,437
3 years$26,255$25,511$24,794$24,105$23,441$21,973
4 years$19,495$18,753$18,044$17,366$16,718$15,304
5 years$15,440$14,703$14,003$13,339$12,709$11,352
6 years$12,737$12,006$11,316$10,667$10,056$8,758
7 years$10,808$10,082$9,404$8,770$8,178$6,939
8 years$9,361$8,642$7,975$7,357$6,785$5,604
9 years$8,237$7,525$6,869$6,267$5,714$4,591
10 years$7,338$6,633$5,989$5,402$4,868$3,803
11 years$6,603$5,905$5,272$4,701$4,187$3,177
12 years$5,991$5,300$4,679$4,124$3,628$2,672
13 years$5,473$4,789$4,180$3,641$3,164$2,261
14 years$5,030$4,353$3,756$3,232$2,773$1,921
15 years$4,646$3,977$3,391$2,882$2,442$1,639
16 years$4,311$3,649$3,075$2,581$2,158$1,402
17 years$4,015$3,360$2,798$2,319$1,914$1,203
18 years$3,752$3,105$2,554$2,090$1,702$1,035
19 years$3,518$2,878$2,338$1,888$1,517$892
20 years$3,307$2,674$2,146$1,710$1,355$770
21 years$3,116$2,491$1,974$1,552$1,212$665
22 years$2,943$2,325$1,819$1,411$1,087$575
23 years$2,786$2,175$1,680$1,285$975$498
24 years$2,641$2,038$1,553$1,172$877$432
25 years$2,509$1,912$1,439$1,070$789$375
26 years$2,386$1,797$1,334$979$711$325
27 years$2,273$1,691$1,239$896$641$283
28 years$2,169$1,594$1,152$821$578$246
29 years$2,071$1,503$1,072$753$522$214
30 years$1,981$1,420$998$691$472$186
31 years$1,896$1,342$931$634$426$162
32 years$1,817$1,270$868$583$386$141
33 years$1,743$1,203$811$536$349$122
34 years$1,673$1,140$758$493$316$107
35 years$1,607$1,081$708$454$286$93
36 years$1,545$1,026$663$418$259$81
37 years$1,487$975$620$385$235$70
38 years$1,432$926$581$355$213$61
39 years$1,380$881$544$328$193$53
40 years$1,330$838$510$302$175$47
41 years$1,283$798$478$279$159$41
42 years$1,239$760$449$257$144$35
43 years$1,196$724$421$237$131$31
44 years$1,156$690$395$219$119$27
45 years$1,118$658$371$202$108$23
46 years$1,081$628$348$187$98$20
47 years$1,046$599$327$173$89$18
48 years$1,013$572$308$160$81$15
49 years$981$546$289$148$73$14
50 years$950$522$272$136$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $973,000, adding $6,155 every year, while hoping to spend $49,886 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: 48/40/12 Blend
56$973,000$973,000$973,000$973,000
57$1,078,595$1,027,026$1,011,944$1,126,514
58$1,135,533$1,024,272$992,766$1,157,411
59$1,196,607$1,019,711$971,274$1,185,259
60$1,262,186$1,013,202$947,336$1,214,373
61$1,332,676$1,004,595$920,818$1,244,888
62$1,408,520$993,731$891,577$1,276,955
63$1,490,207$980,442$859,463$1,310,743
64$1,578,274$964,550$824,321$1,346,441
65$1,673,310$945,865$785,988$1,384,263
66$1,775,962$924,187$744,293$1,424,446
67$1,886,942$899,304$699,058$1,467,255
68$2,007,032$870,991$650,098$1,512,986
69$2,137,090$839,011$597,218$1,561,970
70$2,278,063$803,113$540,215$1,614,577
71$2,430,990$763,029$478,876$1,671,219
72$2,597,013$718,479$412,980$1,732,355
73$2,777,389$669,166$342,296$1,798,495
74$2,973,501$614,773$266,581$1,870,211
75$3,186,870$554,969$185,584$1,948,135
76$3,419,170$489,402$99,040$2,032,973
77$3,672,243$417,700$6,676$2,125,509
78$3,948,115$339,471$0$2,226,616
79$4,249,018$254,300$0$2,349,028
80$4,577,405$161,748$0$2,483,732
81$4,935,980$61,354$0$2,631,108
82$5,327,718$0$0$2,792,525
83$5,755,893$0$0$2,990,349
84$6,224,112$0$0$3,236,308
85$6,736,344$0$0$3,505,494
86$7,296,962$0$0$3,800,219
87$7,910,778$0$0$4,123,026
88$8,583,093$0$0$4,476,718
89$9,319,745$0$0$4,864,381
90$10,127,162$0$0$5,289,412
91$11,012,425$0$0$5,755,556
92$11,983,332$0$0$6,266,936
93$13,048,473$0$0$6,828,092
94$14,217,307$0$0$7,444,027
95$15,500,256$0$0$8,120,250
96$16,908,799$0$0$8,862,832
97$18,455,579$0$0$9,678,457
98$20,154,527$0$0$10,574,493
99$22,020,987$0$0$11,559,052
100$24,071,862$0$0$12,641,075