Can I retire at age 57 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$80,762$80,043$79,341$78,656$77,987$77,269
2 years$39,981$39,237$38,515$37,815$37,137$36,413
3 years$26,389$25,642$24,922$24,229$23,561$22,855
4 years$19,595$18,849$18,137$17,455$16,804$16,120
5 years$15,519$14,778$14,075$13,407$12,774$12,115
6 years$12,803$12,067$11,375$10,722$10,108$9,474
7 years$10,863$10,134$9,452$8,815$8,220$7,612
8 years$9,410$8,687$8,016$7,395$6,820$6,237
9 years$8,279$7,563$6,904$6,299$5,743$5,185
10 years$7,376$6,667$6,019$5,430$4,893$4,361
11 years$6,637$5,935$5,299$4,725$4,208$3,700
12 years$6,022$5,327$4,703$4,145$3,647$3,163
13 years$5,501$4,814$4,202$3,659$3,180$2,720
14 years$5,056$4,376$3,775$3,248$2,788$2,350
15 years$4,670$3,997$3,409$2,897$2,455$2,040
16 years$4,333$3,668$3,091$2,594$2,169$1,776
17 years$4,036$3,378$2,812$2,331$1,923$1,551
18 years$3,772$3,121$2,567$2,100$1,710$1,358
19 years$3,536$2,893$2,350$1,898$1,524$1,192
20 years$3,324$2,688$2,157$1,719$1,362$1,048
21 years$3,132$2,504$1,984$1,560$1,219$923
22 years$2,958$2,337$1,828$1,418$1,092$814
23 years$2,800$2,186$1,688$1,292$980$719
24 years$2,655$2,048$1,561$1,178$881$635
25 years$2,521$1,922$1,446$1,076$793$562
26 years$2,399$1,806$1,341$984$714$498
27 years$2,285$1,700$1,245$900$644$441
28 years$2,180$1,602$1,158$825$581$391
29 years$2,082$1,511$1,077$757$525$347
30 years$1,991$1,427$1,004$694$474$308
31 years$1,906$1,349$936$638$429$274
32 years$1,826$1,277$873$586$388$243
33 years$1,751$1,209$815$539$351$216
34 years$1,681$1,146$762$496$318$192
35 years$1,615$1,087$712$456$288$171
36 years$1,553$1,032$666$420$261$152
37 years$1,495$980$623$387$236$135
38 years$1,439$931$584$357$214$120
39 years$1,387$885$547$329$194$107
40 years$1,337$842$513$304$176$95
41 years$1,290$802$481$280$160$85
42 years$1,245$764$451$259$145$76
43 years$1,203$728$423$239$132$67
44 years$1,162$694$397$220$119$60
45 years$1,123$661$373$204$108$53
46 years$1,087$631$350$188$98$48
47 years$1,051$602$329$174$89$42
48 years$1,018$575$309$160$81$38
49 years$986$549$291$148$74$34
50 years$955$524$273$137$67$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $978,000, adding $6,248 every year, while hoping to spend $55,017 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: 64/27/9 Blend
56$978,000$978,000$978,000$978,000
57$1,084,201$1,032,367$1,017,208$1,151,153
58$1,136,252$1,024,415$992,747$1,188,633
59$1,191,768$1,014,230$965,622$1,222,530
60$1,251,044$1,001,644$935,687$1,258,143
61$1,314,405$986,478$902,787$1,295,634
62$1,382,205$968,547$866,761$1,335,188
63$1,454,834$947,649$827,440$1,377,005
64$1,532,717$923,573$784,650$1,421,311
65$1,616,323$896,097$738,204$1,468,355
66$1,706,165$864,984$687,912$1,518,416
67$1,802,809$829,983$633,572$1,571,802
68$1,906,873$790,829$574,974$1,628,854
69$2,019,036$747,243$511,898$1,689,954
70$2,140,047$698,926$444,116$1,755,523
71$2,270,725$645,568$371,387$1,826,028
72$2,411,974$586,834$293,463$1,901,989
73$2,564,782$522,377$210,081$1,983,982
74$2,730,242$451,825$120,970$2,072,646
75$2,909,549$374,787$25,845$2,168,687
76$3,104,022$290,850$0$2,272,891
77$3,315,108$199,578$0$2,393,393
78$3,544,401$100,509$0$2,527,012
79$3,793,653$0$0$2,672,360
80$4,064,793$0$0$2,832,684
81$4,359,940$0$0$3,039,771
82$4,681,429$0$0$3,265,402
83$5,031,829$0$0$3,511,388
84$5,413,966$0$0$3,779,721
85$5,830,951$0$0$4,072,595
86$6,286,208$0$0$4,392,423
87$6,783,507$0$0$4,741,863
88$7,326,998$0$0$5,123,840
89$7,921,249$0$0$5,541,576
90$8,571,291$0$0$5,998,617
91$9,282,664$0$0$6,498,867
92$10,061,464$0$0$7,046,627
93$10,914,410$0$0$7,646,633
94$11,848,896$0$0$8,304,098
95$12,873,068$0$0$9,024,767
96$13,995,897$0$0$9,814,963
97$15,227,262$0$0$10,681,654
98$16,578,045$0$0$11,632,513
99$18,060,233$0$0$12,675,991
100$19,687,027$0$0$13,821,399