Can I retire at age 57 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$80,680$79,961$79,260$78,576$77,907$76,210
2 years$39,940$39,197$38,476$37,777$37,099$35,397
3 years$26,362$25,615$24,896$24,204$23,537$21,884
4 years$19,575$18,830$18,118$17,438$16,787$15,196
5 years$15,503$14,763$14,060$13,394$12,761$11,236
6 years$12,790$12,055$11,363$10,711$10,097$8,640
7 years$10,852$10,124$9,443$8,806$8,212$6,823
8 years$9,400$8,678$8,008$7,387$6,813$5,491
9 years$8,271$7,556$6,897$6,292$5,737$4,482
10 years$7,368$6,660$6,013$5,424$4,888$3,699
11 years$6,630$5,929$5,294$4,721$4,204$3,078
12 years$6,015$5,322$4,698$4,141$3,643$2,580
13 years$5,496$4,809$4,198$3,655$3,177$2,173
14 years$5,051$4,371$3,772$3,245$2,785$1,840
15 years$4,665$3,993$3,405$2,894$2,452$1,563
16 years$4,328$3,664$3,087$2,591$2,167$1,332
17 years$4,032$3,374$2,809$2,328$1,922$1,138
18 years$3,768$3,118$2,565$2,098$1,709$974
19 years$3,532$2,890$2,348$1,896$1,523$836
20 years$3,321$2,685$2,155$1,717$1,360$718
21 years$3,129$2,501$1,982$1,558$1,217$618
22 years$2,955$2,335$1,827$1,417$1,091$532
23 years$2,797$2,184$1,687$1,290$979$459
24 years$2,652$2,046$1,560$1,177$880$396
25 years$2,519$1,920$1,445$1,075$792$342
26 years$2,396$1,805$1,340$983$714$295
27 years$2,283$1,698$1,244$900$643$255
28 years$2,178$1,600$1,157$824$580$221
29 years$2,080$1,510$1,076$756$524$191
30 years$1,989$1,426$1,003$694$474$165
31 years$1,904$1,348$935$637$428$143
32 years$1,824$1,275$872$585$387$124
33 years$1,750$1,208$814$538$351$107
34 years$1,680$1,145$761$495$317$93
35 years$1,614$1,086$711$456$287$80
36 years$1,552$1,030$665$420$260$70
37 years$1,493$979$623$387$236$60
38 years$1,438$930$583$357$214$52
39 years$1,385$884$546$329$194$45
40 years$1,336$841$512$303$176$39
41 years$1,289$801$480$280$160$34
42 years$1,244$763$450$258$145$30
43 years$1,201$727$423$238$132$26
44 years$1,161$693$397$220$119$22
45 years$1,122$661$373$203$108$19
46 years$1,085$630$350$188$98$17
47 years$1,050$601$329$173$89$14
48 years$1,017$574$309$160$81$13
49 years$985$548$290$148$74$11
50 years$954$524$273$137$67$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $977,000, adding $3,287 every year, while hoping to spend $44,618 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: 64/21/15 Blend
56$977,000$977,000$977,000$977,000
57$1,080,045$1,028,264$1,013,120$1,145,036
58$1,142,736$1,031,175$999,586$1,191,893
59$1,210,326$1,032,734$984,104$1,237,627
60$1,283,268$1,032,827$966,560$1,286,497
61$1,362,060$1,031,333$946,838$1,338,809
62$1,447,246$1,028,125$924,813$1,394,900
63$1,539,429$1,023,067$900,358$1,455,146
64$1,639,268$1,016,015$873,338$1,519,959
65$1,747,490$1,006,816$843,611$1,589,795
66$1,864,892$995,308$811,030$1,665,161
67$1,992,352$981,319$775,441$1,746,612
68$2,130,837$964,669$736,683$1,834,765
69$2,281,408$945,163$694,587$1,930,302
70$2,445,234$922,598$648,978$2,033,973
71$2,623,600$896,758$599,672$2,146,610
72$2,817,922$867,414$546,475$2,269,130
73$3,029,756$834,323$489,188$2,402,548
74$3,260,816$797,230$427,601$2,547,983
75$3,512,988$755,863$361,494$2,706,672
76$3,788,348$709,935$290,639$2,879,980
77$4,089,181$659,144$214,797$3,069,416
78$4,418,003$603,167$133,719$3,276,645
79$4,777,585$541,668$47,143$3,503,506
80$5,170,975$474,287$0$3,752,029
81$5,601,533$400,645$0$4,031,697
82$6,072,957$320,344$0$4,346,265
83$6,589,317$232,959$0$4,690,960
84$7,155,099$138,046$0$5,068,844
85$7,775,242$35,133$0$5,483,299
86$8,455,184$0$0$5,938,048
87$9,200,917$0$0$6,454,830
88$10,019,038$0$0$7,030,751
89$10,916,816$0$0$7,662,819
90$11,902,256$0$0$8,356,677
91$12,984,177$0$0$9,118,545
92$14,172,293$0$0$9,955,273
93$15,477,303$0$0$10,874,406
94$16,910,997$0$0$11,884,257
95$18,486,361$0$0$12,993,983
96$20,217,701$0$0$14,213,674
97$22,120,777$0$0$15,554,443
98$24,212,955$0$0$17,028,537
99$26,513,365$0$0$18,649,446
100$29,043,083$0$0$20,432,034