Can I retire at age 57 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$80,845$80,125$79,422$78,736$78,067$77,155
2 years$40,022$39,277$38,554$37,854$37,175$36,257
3 years$26,416$25,668$24,947$24,253$23,585$22,690
4 years$19,615$18,869$18,155$17,473$16,821$15,956
5 years$15,535$14,793$14,089$13,421$12,787$11,954
6 years$12,816$12,080$11,386$10,733$10,118$9,317
7 years$10,875$10,145$9,462$8,824$8,229$7,461
8 years$9,419$8,696$8,024$7,402$6,826$6,092
9 years$8,288$7,571$6,911$6,305$5,749$5,048
10 years$7,383$6,674$6,026$5,435$4,898$4,230
11 years$6,644$5,941$5,305$4,730$4,213$3,576
12 years$6,028$5,332$4,708$4,149$3,651$3,045
13 years$5,507$4,819$4,206$3,663$3,183$2,608
14 years$5,061$4,380$3,779$3,252$2,791$2,245
15 years$4,675$4,002$3,412$2,900$2,457$1,940
16 years$4,337$3,671$3,094$2,596$2,172$1,682
17 years$4,040$3,381$2,815$2,333$1,925$1,463
18 years$3,776$3,124$2,570$2,102$1,712$1,276
19 years$3,540$2,896$2,353$1,900$1,526$1,115
20 years$3,327$2,691$2,159$1,721$1,363$976
21 years$3,136$2,506$1,986$1,562$1,220$855
22 years$2,961$2,340$1,830$1,420$1,093$751
23 years$2,803$2,188$1,690$1,293$981$660
24 years$2,657$2,050$1,563$1,179$882$581
25 years$2,524$1,924$1,448$1,077$794$511
26 years$2,401$1,808$1,343$985$715$451
27 years$2,287$1,702$1,247$901$645$398
28 years$2,182$1,604$1,159$826$582$351
29 years$2,084$1,513$1,079$757$525$310
30 years$1,993$1,429$1,005$695$475$274
31 years$1,908$1,351$937$638$429$242
32 years$1,828$1,278$874$587$388$214
33 years$1,753$1,210$816$539$351$189
34 years$1,683$1,147$762$496$318$167
35 years$1,617$1,088$713$457$288$148
36 years$1,555$1,033$667$421$261$131
37 years$1,496$981$624$388$237$116
38 years$1,441$932$584$357$214$103
39 years$1,388$886$548$330$194$91
40 years$1,338$843$513$304$176$80
41 years$1,291$803$481$280$160$71
42 years$1,246$764$451$259$145$63
43 years$1,204$728$424$239$132$56
44 years$1,163$694$398$221$120$50
45 years$1,125$662$373$204$109$44
46 years$1,088$632$351$188$99$39
47 years$1,052$603$329$174$90$34
48 years$1,019$575$310$161$81$31
49 years$987$549$291$148$74$27
50 years$956$525$274$137$67$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $979,000, adding $2,798 every year, while hoping to spend $22,319 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: 82/6/12 Blend
56$979,000$979,000$979,000$979,000
57$1,081,744$1,029,857$1,014,683$1,167,906
58$1,168,335$1,056,573$1,024,927$1,251,518
59$1,263,010$1,083,850$1,034,767$1,340,075
60$1,366,570$1,111,691$1,044,165$1,436,643
61$1,479,897$1,140,102$1,053,082$1,542,017
62$1,603,963$1,169,083$1,061,476$1,657,067
63$1,739,836$1,198,637$1,069,305$1,782,756
64$1,888,696$1,228,766$1,076,522$1,920,141
65$2,051,837$1,259,471$1,083,081$2,070,390
66$2,230,690$1,290,750$1,088,929$2,234,787
67$2,426,827$1,322,604$1,094,015$2,414,747
68$2,641,982$1,355,029$1,098,283$2,611,829
69$2,878,062$1,388,023$1,101,673$2,827,750
70$3,137,170$1,421,582$1,104,125$3,064,401
71$3,421,621$1,455,700$1,105,573$3,323,869
72$3,733,967$1,490,370$1,105,951$3,608,448
73$4,077,018$1,525,584$1,105,186$3,920,668
74$4,453,869$1,561,333$1,103,205$4,263,318
75$4,867,930$1,597,605$1,099,929$4,639,468
76$5,322,958$1,634,386$1,095,275$5,052,502
77$5,823,091$1,671,663$1,089,158$5,506,148
78$6,372,890$1,709,417$1,081,488$6,004,515
79$6,977,377$1,747,631$1,072,171$6,552,130
80$7,642,086$1,786,282$1,061,106$7,153,979
81$8,373,117$1,825,348$1,048,190$7,815,558
82$9,177,186$1,864,801$1,033,316$8,542,923
83$10,061,695$1,904,612$1,016,368$9,342,748
84$11,034,800$1,944,750$997,228$10,222,384
85$12,105,486$1,985,180$975,772$11,189,934
86$13,283,654$2,025,862$951,869$12,254,327
87$14,580,212$2,066,755$925,382$13,425,399
88$16,007,181$2,107,813$896,170$14,713,993
89$17,577,804$2,148,986$864,082$16,132,055
90$19,306,674$2,190,220$828,962$17,692,748
91$21,209,870$2,231,457$790,648$19,410,579
92$23,305,111$2,272,633$748,969$21,301,533
93$25,611,919$2,313,678$703,747$23,383,227
94$28,151,807$2,354,521$654,794$25,675,071
95$30,948,479$2,395,080$601,917$28,198,458
96$34,028,055$2,435,269$544,912$30,976,959
97$37,419,316$2,474,997$483,567$34,036,551
98$41,153,979$2,514,165$417,659$37,405,860
99$45,266,991$2,552,665$346,956$41,116,431
100$49,796,862$2,590,384$271,218$45,203,027