Can I retire at age 57 with 979,000?

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 $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%13.5%
1 years$80,845$80,125$79,422$78,736$78,067$76,932
2 years$40,022$39,277$38,554$37,854$37,175$36,034
3 years$26,416$25,668$24,947$24,253$23,585$22,474
4 years$19,615$18,869$18,155$17,473$16,821$15,747
5 years$15,535$14,793$14,089$13,421$12,787$11,755
6 years$12,816$12,080$11,386$10,733$10,118$9,128
7 years$10,875$10,145$9,462$8,824$8,229$7,281
8 years$9,419$8,696$8,024$7,402$6,826$5,921
9 years$8,288$7,571$6,911$6,305$5,749$4,886
10 years$7,383$6,674$6,026$5,435$4,898$4,076
11 years$6,644$5,941$5,305$4,730$4,213$3,431
12 years$6,028$5,332$4,708$4,149$3,651$2,909
13 years$5,507$4,819$4,206$3,663$3,183$2,480
14 years$5,061$4,380$3,779$3,252$2,791$2,125
15 years$4,675$4,002$3,412$2,900$2,457$1,828
16 years$4,337$3,671$3,094$2,596$2,172$1,577
17 years$4,040$3,381$2,815$2,333$1,925$1,365
18 years$3,776$3,124$2,570$2,102$1,712$1,184
19 years$3,540$2,896$2,353$1,900$1,526$1,029
20 years$3,327$2,691$2,159$1,721$1,363$896
21 years$3,136$2,506$1,986$1,562$1,220$782
22 years$2,961$2,340$1,830$1,420$1,093$683
23 years$2,803$2,188$1,690$1,293$981$597
24 years$2,657$2,050$1,563$1,179$882$522
25 years$2,524$1,924$1,448$1,077$794$457
26 years$2,401$1,808$1,343$985$715$401
27 years$2,287$1,702$1,247$901$645$352
28 years$2,182$1,604$1,159$826$582$309
29 years$2,084$1,513$1,079$757$525$271
30 years$1,993$1,429$1,005$695$475$238
31 years$1,908$1,351$937$638$429$209
32 years$1,828$1,278$874$587$388$184
33 years$1,753$1,210$816$539$351$162
34 years$1,683$1,147$762$496$318$142
35 years$1,617$1,088$713$457$288$125
36 years$1,555$1,033$667$421$261$110
37 years$1,496$981$624$388$237$97
38 years$1,441$932$584$357$214$85
39 years$1,388$886$548$330$194$75
40 years$1,338$843$513$304$176$66
41 years$1,291$803$481$280$160$58
42 years$1,246$764$451$259$145$51
43 years$1,204$728$424$239$132$45
44 years$1,163$694$398$221$120$40
45 years$1,125$662$373$204$109$35
46 years$1,088$632$351$188$99$31
47 years$1,052$603$329$174$90$27
48 years$1,019$575$310$161$81$24
49 years$987$549$291$148$74$21
50 years$956$525$274$137$67$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $979,000, adding $3,754 every year, while hoping to spend $59,172 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: 56/17/27 Blend
56$979,000$979,000$979,000$979,000
57$1,082,730$1,030,843$1,015,669$1,135,134
58$1,130,210$1,018,396$986,735$1,159,119
59$1,180,550$1,003,356$954,849$1,178,753
60$1,233,979$985,533$919,849$1,198,932
61$1,290,747$964,726$881,566$1,219,729
62$1,351,129$940,724$839,825$1,241,226
63$1,415,425$913,300$794,440$1,263,517
64$1,483,963$882,217$745,218$1,286,708
65$1,557,104$847,221$691,959$1,310,920
66$1,635,240$808,047$634,452$1,336,290
67$1,718,805$764,412$572,477$1,362,974
68$1,808,272$716,017$505,803$1,391,145
69$1,904,160$662,546$434,192$1,421,003
70$2,007,039$603,666$357,392$1,452,769
71$2,117,535$539,023$275,142$1,486,693
72$2,236,333$468,244$187,169$1,523,056
73$2,364,186$390,936$93,187$1,562,174
74$2,501,923$306,682$0$1,604,400
75$2,650,452$215,042$0$1,652,177
76$2,810,771$115,552$0$1,732,683
77$2,983,976$7,721$0$1,819,633
78$3,171,274$0$0$1,913,678
79$3,373,988$0$0$2,035,920
80$3,593,575$0$0$2,169,975
81$3,831,636$0$0$2,315,385
82$4,089,932$0$0$2,473,235
83$4,370,400$0$0$2,644,719
84$4,675,169$0$0$2,831,150
85$5,006,583$0$0$3,033,971
86$5,367,219$0$0$3,254,773
87$5,759,914$0$0$3,495,303
88$6,187,789$0$0$3,757,487
89$6,654,278$0$0$4,043,441
90$7,163,163$0$0$4,355,498
91$7,718,603$0$0$4,696,223
92$8,325,180$0$0$5,068,441
93$8,987,934$0$0$5,475,260
94$9,712,418$0$0$5,920,105
95$10,504,742$0$0$6,406,745
96$11,371,635$0$0$6,939,330
97$12,320,507$0$0$7,522,430
98$13,359,516$0$0$8,161,078
99$14,497,647$0$0$8,860,816
100$15,744,794$0$0$9,627,747