Can I retire at age 57 with 977,000?

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 $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%16%
1 years$80,680$79,961$79,260$78,576$77,907$75,993
2 years$39,940$39,197$38,476$37,777$37,099$35,182
3 years$26,362$25,615$24,896$24,204$23,537$21,678
4 years$19,575$18,830$18,118$17,438$16,787$14,999
5 years$15,503$14,763$14,060$13,394$12,761$11,050
6 years$12,790$12,055$11,363$10,711$10,097$8,465
7 years$10,852$10,124$9,443$8,806$8,212$6,658
8 years$9,400$8,678$8,008$7,387$6,813$5,337
9 years$8,271$7,556$6,897$6,292$5,737$4,338
10 years$7,368$6,660$6,013$5,424$4,888$3,564
11 years$6,630$5,929$5,294$4,721$4,204$2,953
12 years$6,015$5,322$4,698$4,141$3,643$2,463
13 years$5,496$4,809$4,198$3,655$3,177$2,066
14 years$5,051$4,371$3,772$3,245$2,785$1,740
15 years$4,665$3,993$3,405$2,894$2,452$1,471
16 years$4,328$3,664$3,087$2,591$2,167$1,247
17 years$4,032$3,374$2,809$2,328$1,922$1,060
18 years$3,768$3,118$2,565$2,098$1,709$903
19 years$3,532$2,890$2,348$1,896$1,523$771
20 years$3,321$2,685$2,155$1,717$1,360$659
21 years$3,129$2,501$1,982$1,558$1,217$564
22 years$2,955$2,335$1,827$1,417$1,091$483
23 years$2,797$2,184$1,687$1,290$979$414
24 years$2,652$2,046$1,560$1,177$880$355
25 years$2,519$1,920$1,445$1,075$792$305
26 years$2,396$1,805$1,340$983$714$262
27 years$2,283$1,698$1,244$900$643$225
28 years$2,178$1,600$1,157$824$580$194
29 years$2,080$1,510$1,076$756$524$167
30 years$1,989$1,426$1,003$694$474$143
31 years$1,904$1,348$935$637$428$123
32 years$1,824$1,275$872$585$387$106
33 years$1,750$1,208$814$538$351$91
34 years$1,680$1,145$761$495$317$79
35 years$1,614$1,086$711$456$287$68
36 years$1,552$1,030$665$420$260$58
37 years$1,493$979$623$387$236$50
38 years$1,438$930$583$357$214$43
39 years$1,385$884$546$329$194$37
40 years$1,336$841$512$303$176$32
41 years$1,289$801$480$280$160$28
42 years$1,244$763$450$258$145$24
43 years$1,201$727$423$238$132$21
44 years$1,161$693$397$220$119$18
45 years$1,122$661$373$203$108$15
46 years$1,085$630$350$188$98$13
47 years$1,050$601$329$173$89$11
48 years$1,017$574$309$160$81$10
49 years$985$548$290$148$74$8
50 years$954$524$273$137$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $977,000, adding $2,894 every year, while hoping to spend $53,005 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: 45/40/15 Blend
56$977,000$977,000$977,000$977,000
57$1,079,639$1,027,858$1,012,715$1,123,468
58$1,133,365$1,021,826$990,244$1,148,284
59$1,190,795$1,013,722$965,243$1,169,613
60$1,252,251$1,003,389$937,573$1,191,592
61$1,318,084$990,659$907,086$1,214,305
62$1,388,683$975,355$873,627$1,237,844
63$1,464,472$957,291$837,037$1,262,317
64$1,545,916$936,267$797,146$1,287,846
65$1,633,528$912,073$753,780$1,314,569
66$1,727,870$884,486$706,753$1,342,643
67$1,829,557$853,270$655,874$1,372,244
68$1,939,268$818,177$600,942$1,403,575
69$2,057,747$778,941$541,747$1,436,859
70$2,185,813$735,284$478,070$1,472,353
71$2,324,363$686,910$409,683$1,510,343
72$2,474,387$633,508$336,346$1,551,151
73$2,636,971$574,746$257,810$1,595,138
74$2,813,309$510,276$173,815$1,642,711
75$3,004,717$439,730$84,087$1,694,324
76$3,212,638$362,716$0$1,750,487
77$3,438,662$278,824$0$1,813,636
78$3,684,538$187,619$0$1,897,026
79$3,952,190$88,642$0$1,987,945
80$4,243,736$0$0$2,087,239
81$4,561,504$0$0$2,204,032
82$4,908,059$0$0$2,374,061
83$5,286,224$0$0$2,559,707
84$5,699,104$0$0$2,762,510
85$6,150,118$0$0$2,984,162
86$6,643,032$0$0$3,226,529
87$7,181,989$0$0$3,491,664
88$7,771,553$0$0$3,781,828
89$8,416,749$0$0$4,099,509
90$9,123,107$0$0$4,447,450
91$9,896,722$0$0$4,828,670
92$10,744,302$0$0$5,246,492
93$11,673,235$0$0$5,704,580
94$12,691,660$0$0$6,206,965
95$13,808,538$0$0$6,758,090
96$15,033,741$0$0$7,362,847
97$16,378,142$0$0$8,026,625
98$17,853,717$0$0$8,755,361
99$19,473,658$0$0$9,555,593
100$21,252,497$0$0$10,434,526