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%19.8%
1 years$80,349$79,634$78,935$78,254$77,588$74,539
2 years$39,777$39,036$38,318$37,622$36,947$33,912
3 years$26,255$25,511$24,794$24,105$23,441$20,516
4 years$19,495$18,753$18,044$17,366$16,718$13,926
5 years$15,440$14,703$14,003$13,339$12,709$10,056
6 years$12,737$12,006$11,316$10,667$10,056$7,544
7 years$10,808$10,082$9,404$8,770$8,178$5,807
8 years$9,361$8,642$7,975$7,357$6,785$4,551
9 years$8,237$7,525$6,869$6,267$5,714$3,615
10 years$7,338$6,633$5,989$5,402$4,868$2,900
11 years$6,603$5,905$5,272$4,701$4,187$2,345
12 years$5,991$5,300$4,679$4,124$3,628$1,907
13 years$5,473$4,789$4,180$3,641$3,164$1,559
14 years$5,030$4,353$3,756$3,232$2,773$1,279
15 years$4,646$3,977$3,391$2,882$2,442$1,052
16 years$4,311$3,649$3,075$2,581$2,158$868
17 years$4,015$3,360$2,798$2,319$1,914$718
18 years$3,752$3,105$2,554$2,090$1,702$594
19 years$3,518$2,878$2,338$1,888$1,517$493
20 years$3,307$2,674$2,146$1,710$1,355$409
21 years$3,116$2,491$1,974$1,552$1,212$340
22 years$2,943$2,325$1,819$1,411$1,087$283
23 years$2,786$2,175$1,680$1,285$975$235
24 years$2,641$2,038$1,553$1,172$877$196
25 years$2,509$1,912$1,439$1,070$789$163
26 years$2,386$1,797$1,334$979$711$136
27 years$2,273$1,691$1,239$896$641$113
28 years$2,169$1,594$1,152$821$578$94
29 years$2,071$1,503$1,072$753$522$79
30 years$1,981$1,420$998$691$472$66
31 years$1,896$1,342$931$634$426$55
32 years$1,817$1,270$868$583$386$46
33 years$1,743$1,203$811$536$349$38
34 years$1,673$1,140$758$493$316$32
35 years$1,607$1,081$708$454$286$27
36 years$1,545$1,026$663$418$259$22
37 years$1,487$975$620$385$235$18
38 years$1,432$926$581$355$213$15
39 years$1,380$881$544$328$193$13
40 years$1,330$838$510$302$175$11
41 years$1,283$798$478$279$159$9
42 years$1,239$760$449$257$144$7
43 years$1,196$724$421$237$131$6
44 years$1,156$690$395$219$119$5
45 years$1,118$658$371$202$108$4
46 years$1,081$628$348$187$98$4
47 years$1,046$599$327$173$89$3
48 years$1,013$572$308$160$81$3
49 years$981$546$289$148$73$2
50 years$950$522$272$136$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $973,000, adding $5,413 every year, while hoping to spend $22,163 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: 28/46/26 Blend
56$973,000$973,000$973,000$973,000
57$1,077,830$1,026,261$1,011,179$1,099,167
58$1,164,187$1,052,966$1,021,472$1,143,210
59$1,258,610$1,080,237$1,031,367$1,188,208
60$1,361,898$1,108,079$1,040,828$1,236,101
61$1,474,931$1,136,494$1,049,815$1,287,152
62$1,598,678$1,165,486$1,058,288$1,341,651
63$1,734,206$1,195,058$1,066,204$1,399,917
64$1,882,691$1,225,212$1,073,518$1,462,301
65$2,045,427$1,255,948$1,080,182$1,529,190
66$2,223,838$1,287,268$1,086,146$1,601,012
67$2,419,496$1,319,170$1,091,358$1,678,235
68$2,634,129$1,351,654$1,095,763$1,761,379
69$2,869,641$1,384,716$1,099,302$1,851,015
70$3,128,131$1,418,354$1,101,915$1,947,770
71$3,411,909$1,452,562$1,103,538$2,052,340
72$3,723,521$1,487,334$1,104,103$2,165,489
73$4,065,770$1,522,664$1,103,541$2,288,059
74$4,441,747$1,558,542$1,101,777$2,420,980
75$4,854,852$1,594,958$1,098,735$2,565,275
76$5,308,836$1,631,900$1,094,331$2,722,074
77$5,807,828$1,669,354$1,088,482$2,892,622
78$6,356,379$1,707,304$1,081,098$3,078,291
79$6,959,500$1,745,733$1,072,085$3,280,594
80$7,622,715$1,784,620$1,061,346$3,501,200
81$8,352,108$1,823,942$1,048,777$3,741,947
82$9,154,383$1,863,676$1,034,272$4,004,863
83$10,036,927$1,903,793$1,017,717$4,292,183
84$11,007,877$1,944,262$998,994$4,606,374
85$12,076,201$1,985,051$977,980$4,950,151
86$13,251,777$2,026,123$954,547$5,326,511
87$14,545,492$2,067,437$928,558$5,738,758
88$15,969,340$2,108,949$899,872$6,190,533
89$17,536,538$2,150,612$868,343$6,685,852
90$19,261,646$2,192,374$833,814$7,229,141
91$21,160,712$2,234,178$796,124$7,825,281
92$23,251,415$2,275,963$755,105$8,479,652
93$25,553,237$2,317,663$710,579$9,198,188
94$28,087,647$2,359,208$662,363$9,987,427
95$30,878,297$2,400,519$610,262$10,854,581
96$33,951,253$2,441,515$554,076$11,807,596
97$37,335,237$2,482,106$493,594$12,855,237
98$41,061,898$2,522,195$428,596$14,007,164
99$45,166,110$2,561,681$358,852$15,274,026
100$49,686,302$2,600,452$284,122$16,667,563