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%16.7%
1 years$80,680$79,961$79,260$78,576$77,907$75,778
2 years$39,940$39,197$38,476$37,777$37,099$34,969
3 years$26,362$25,615$24,896$24,204$23,537$21,474
4 years$19,575$18,830$18,118$17,438$16,787$14,806
5 years$15,503$14,763$14,060$13,394$12,761$10,867
6 years$12,790$12,055$11,363$10,711$10,097$8,293
7 years$10,852$10,124$9,443$8,806$8,212$6,497
8 years$9,400$8,678$8,008$7,387$6,813$5,186
9 years$8,271$7,556$6,897$6,292$5,737$4,198
10 years$7,368$6,660$6,013$5,424$4,888$3,434
11 years$6,630$5,929$5,294$4,721$4,204$2,833
12 years$6,015$5,322$4,698$4,141$3,643$2,352
13 years$5,496$4,809$4,198$3,655$3,177$1,963
14 years$5,051$4,371$3,772$3,245$2,785$1,646
15 years$4,665$3,993$3,405$2,894$2,452$1,384
16 years$4,328$3,664$3,087$2,591$2,167$1,168
17 years$4,032$3,374$2,809$2,328$1,922$988
18 years$3,768$3,118$2,565$2,098$1,709$837
19 years$3,532$2,890$2,348$1,896$1,523$711
20 years$3,321$2,685$2,155$1,717$1,360$604
21 years$3,129$2,501$1,982$1,558$1,217$514
22 years$2,955$2,335$1,827$1,417$1,091$438
23 years$2,797$2,184$1,687$1,290$979$373
24 years$2,652$2,046$1,560$1,177$880$319
25 years$2,519$1,920$1,445$1,075$792$272
26 years$2,396$1,805$1,340$983$714$232
27 years$2,283$1,698$1,244$900$643$199
28 years$2,178$1,600$1,157$824$580$170
29 years$2,080$1,510$1,076$756$524$145
30 years$1,989$1,426$1,003$694$474$124
31 years$1,904$1,348$935$637$428$106
32 years$1,824$1,275$872$585$387$91
33 years$1,750$1,208$814$538$351$78
34 years$1,680$1,145$761$495$317$67
35 years$1,614$1,086$711$456$287$57
36 years$1,552$1,030$665$420$260$49
37 years$1,493$979$623$387$236$42
38 years$1,438$930$583$357$214$36
39 years$1,385$884$546$329$194$31
40 years$1,336$841$512$303$176$26
41 years$1,289$801$480$280$160$23
42 years$1,244$763$450$258$145$19
43 years$1,201$727$423$238$132$17
44 years$1,161$693$397$220$119$14
45 years$1,122$661$373$203$108$12
46 years$1,085$630$350$188$98$10
47 years$1,050$601$329$173$89$9
48 years$1,017$574$309$160$81$8
49 years$985$548$290$148$74$7
50 years$954$524$273$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $977,000, adding $5,991 every year, while hoping to spend $37,449 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: 38/50/12 Blend
56$977,000$977,000$977,000$977,000
57$1,082,834$1,031,053$1,015,909$1,119,812
58$1,153,437$1,041,729$1,010,097$1,157,353
59$1,229,987$1,051,673$1,002,834$1,193,809
60$1,313,051$1,060,810$994,034$1,232,380
61$1,403,251$1,069,059$983,604$1,273,276
62$1,501,275$1,076,334$971,446$1,316,725
63$1,607,876$1,082,546$957,460$1,362,984
64$1,723,884$1,087,596$941,541$1,412,337
65$1,850,214$1,091,381$923,575$1,465,098
66$1,987,869$1,093,793$903,449$1,521,616
67$2,137,957$1,094,714$881,040$1,582,279
68$2,301,695$1,094,021$856,221$1,647,516
69$2,480,423$1,091,583$828,859$1,717,803
70$2,675,615$1,087,259$798,815$1,793,666
71$2,888,896$1,080,903$765,943$1,875,692
72$3,122,053$1,072,357$730,092$1,964,526
73$3,377,054$1,061,455$691,102$2,060,887
74$3,656,067$1,048,019$648,808$2,165,569
75$3,961,478$1,031,864$603,035$2,279,452
76$4,295,914$1,012,791$553,602$2,403,509
77$4,662,269$990,590$500,319$2,538,818
78$5,063,730$965,038$442,989$2,686,574
79$5,503,806$935,900$381,405$2,848,097
80$5,986,363$902,928$315,350$3,024,848
81$6,515,657$865,856$244,599$3,218,444
82$7,096,377$824,406$168,917$3,430,672
83$7,733,689$778,284$88,057$3,663,511
84$8,433,281$727,176$1,763$3,919,147
85$9,201,421$670,752$0$4,199,999
86$10,045,011$608,664$0$4,520,305
87$10,971,656$540,543$0$4,872,448
88$11,989,734$465,998$0$5,259,504
89$13,108,473$384,618$0$5,685,123
90$14,338,041$295,968$0$6,153,334
91$15,689,638$199,588$0$6,668,585
92$17,175,606$94,992$0$7,235,791
93$18,809,539$0$0$7,860,374
94$20,606,418$0$0$8,558,410
95$22,582,745$0$0$9,383,788
96$24,756,702$0$0$10,291,857
97$27,148,325$0$0$11,291,002
98$29,779,687$0$0$12,390,465
99$32,675,107$0$0$13,600,429
100$35,861,384$0$0$14,932,113