Can I retire at age 57 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$80,597$79,879$79,179$78,495$77,828$74,947
2 years$39,900$39,156$38,436$37,738$37,061$34,191
3 years$26,336$25,589$24,871$24,179$23,513$20,744
4 years$19,555$18,811$18,100$17,420$16,770$14,124
5 years$15,487$14,748$14,046$13,380$12,748$10,231
6 years$12,777$12,043$11,351$10,700$10,087$7,701
7 years$10,841$10,113$9,433$8,797$8,203$5,948
8 years$9,390$8,669$8,000$7,380$6,806$4,678
9 years$8,262$7,548$6,890$6,286$5,731$3,730
10 years$7,361$6,653$6,007$5,418$4,883$3,003
11 years$6,623$5,923$5,289$4,716$4,200$2,438
12 years$6,009$5,316$4,693$4,136$3,639$1,991
13 years$5,490$4,804$4,193$3,652$3,174$1,634
14 years$5,046$4,367$3,768$3,242$2,782$1,346
15 years$4,661$3,989$3,402$2,891$2,450$1,112
16 years$4,324$3,660$3,084$2,589$2,165$922
17 years$4,027$3,371$2,806$2,326$1,920$765
18 years$3,764$3,115$2,562$2,096$1,707$637
19 years$3,529$2,887$2,345$1,894$1,521$530
20 years$3,317$2,682$2,152$1,715$1,359$442
21 years$3,126$2,499$1,980$1,557$1,216$369
22 years$2,952$2,332$1,825$1,415$1,090$308
23 years$2,794$2,181$1,685$1,289$978$258
24 years$2,649$2,044$1,558$1,176$879$216
25 years$2,516$1,918$1,443$1,074$791$181
26 years$2,394$1,803$1,338$982$713$151
27 years$2,280$1,697$1,243$899$643$127
28 years$2,175$1,599$1,155$823$580$106
29 years$2,078$1,508$1,075$755$524$89
30 years$1,987$1,424$1,002$693$473$74
31 years$1,902$1,346$934$636$428$62
32 years$1,822$1,274$871$585$387$52
33 years$1,748$1,206$813$538$350$44
34 years$1,678$1,143$760$495$317$37
35 years$1,612$1,085$711$456$287$31
36 years$1,550$1,029$665$420$260$26
37 years$1,492$978$622$387$236$22
38 years$1,436$929$583$356$214$18
39 years$1,384$884$546$329$194$15
40 years$1,334$841$512$303$176$13
41 years$1,287$800$480$280$160$11
42 years$1,243$762$450$258$145$9
43 years$1,200$726$422$238$131$8
44 years$1,160$692$396$220$119$6
45 years$1,121$660$372$203$108$5
46 years$1,084$630$350$188$98$4
47 years$1,049$601$328$173$89$4
48 years$1,016$574$309$160$81$3
49 years$984$548$290$148$74$3
50 years$953$523$273$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $976,000, adding $5,706 every year, while hoping to spend $43,664 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: 56/27/17 Blend
56$976,000$976,000$976,000$976,000
57$1,081,438$1,029,710$1,014,582$1,136,831
58$1,145,286$1,033,707$1,002,112$1,179,155
59$1,214,184$1,036,437$987,761$1,220,036
60$1,288,599$1,037,792$971,420$1,263,587
61$1,369,048$1,037,655$952,974$1,310,073
62$1,456,097$1,035,906$932,305$1,359,787
63$1,550,368$1,032,414$909,286$1,413,056
64$1,652,545$1,027,043$883,787$1,470,241
65$1,763,382$1,019,645$855,671$1,531,739
66$1,883,706$1,010,067$824,795$1,597,994
67$2,014,428$998,144$791,009$1,669,495
68$2,156,549$983,702$754,157$1,746,782
69$2,311,170$966,556$714,075$1,830,455
70$2,479,504$946,512$670,591$1,921,178
71$2,662,885$923,363$623,528$2,019,682
72$2,862,781$896,889$572,697$2,126,779
73$3,080,807$866,859$517,905$2,243,367
74$3,318,741$833,028$458,947$2,370,437
75$3,578,541$795,134$395,610$2,509,087
76$3,862,361$752,905$327,672$2,660,530
77$4,172,574$706,049$254,900$2,826,106
78$4,511,789$654,258$177,053$3,007,298
79$4,882,884$597,209$93,876$3,205,743
80$5,289,024$534,558$5,106$3,423,252
81$5,733,694$465,941$0$3,661,825
82$6,220,734$390,976$0$3,939,930
83$6,754,372$309,256$0$4,245,796
84$7,339,263$220,355$0$4,581,248
85$7,980,535$123,820$0$4,949,322
86$8,683,836$19,174$0$5,353,367
87$9,455,387$0$0$5,797,080
88$10,302,038$0$0$6,312,491
89$11,231,337$0$0$6,884,559
90$12,251,597$0$0$7,512,717
91$13,371,975$0$0$8,202,613
92$14,602,560$0$0$8,960,472
93$15,954,463$0$0$9,793,150
94$17,439,927$0$0$10,708,201
95$19,072,439$0$0$11,713,945
96$20,866,858$0$0$12,819,551
97$22,839,551$0$0$14,035,119
98$25,008,553$0$0$15,371,776
99$27,393,734$0$0$16,841,781
100$30,016,984$0$0$18,458,643