Can I retire at age 57 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$80,927$80,207$79,503$78,817$78,147$75,165
2 years$40,063$39,317$38,594$37,893$37,213$34,244
3 years$26,443$25,694$24,973$24,278$23,609$20,746
4 years$19,635$18,888$18,174$17,491$16,838$14,103
5 years$15,551$14,808$14,104$13,435$12,800$10,200
6 years$12,829$12,092$11,398$10,744$10,128$7,665
7 years$10,886$10,155$9,472$8,833$8,237$5,910
8 years$9,429$8,705$8,033$7,410$6,833$4,640
9 years$8,296$7,579$6,919$6,312$5,755$3,692
10 years$7,391$6,680$6,032$5,441$4,903$2,968
11 years$6,650$5,947$5,310$4,735$4,217$2,404
12 years$6,034$5,338$4,713$4,153$3,654$1,959
13 years$5,513$4,824$4,211$3,667$3,187$1,605
14 years$5,066$4,385$3,783$3,255$2,793$1,319
15 years$4,680$4,006$3,416$2,903$2,460$1,088
16 years$4,342$3,675$3,097$2,599$2,174$900
17 years$4,044$3,385$2,818$2,335$1,927$745
18 years$3,779$3,128$2,572$2,105$1,714$619
19 years$3,543$2,899$2,355$1,902$1,528$514
20 years$3,331$2,693$2,161$1,722$1,364$428
21 years$3,139$2,509$1,988$1,563$1,221$356
22 years$2,964$2,342$1,832$1,421$1,094$297
23 years$2,806$2,190$1,692$1,294$982$248
24 years$2,660$2,052$1,565$1,181$883$207
25 years$2,527$1,926$1,449$1,078$795$173
26 years$2,403$1,810$1,344$986$716$144
27 years$2,290$1,703$1,248$902$645$120
28 years$2,184$1,605$1,160$827$582$101
29 years$2,086$1,514$1,080$758$526$84
30 years$1,995$1,430$1,006$696$475$70
31 years$1,910$1,352$938$639$430$59
32 years$1,830$1,279$875$587$389$49
33 years$1,755$1,211$817$540$352$41
34 years$1,685$1,148$763$497$318$34
35 years$1,619$1,089$713$457$288$29
36 years$1,556$1,034$667$421$261$24
37 years$1,498$982$625$388$237$20
38 years$1,442$933$585$358$215$17
39 years$1,390$887$548$330$195$14
40 years$1,340$844$514$304$177$12
41 years$1,293$803$482$281$160$10
42 years$1,248$765$452$259$145$8
43 years$1,205$729$424$239$132$7
44 years$1,164$695$398$221$120$6
45 years$1,126$663$374$204$109$5
46 years$1,089$632$351$188$99$4
47 years$1,054$603$330$174$90$3
48 years$1,020$576$310$161$81$3
49 years$988$550$291$149$74$2
50 years$957$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $980,000, adding $4,860 every year, while hoping to spend $28,810 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: 36/49/15 Blend
56$980,000$980,000$980,000$980,000
57$1,084,973$1,033,033$1,017,843$1,118,881
58$1,164,987$1,052,998$1,021,287$1,163,766
59$1,252,196$1,072,976$1,023,881$1,209,098
60$1,347,305$1,092,936$1,025,566$1,257,416
61$1,451,087$1,112,848$1,026,280$1,309,001
62$1,564,396$1,132,675$1,025,958$1,364,164
63$1,688,169$1,152,381$1,024,532$1,423,247
64$1,823,439$1,171,924$1,021,931$1,486,628
65$1,971,344$1,191,262$1,018,079$1,554,724
66$2,133,135$1,210,348$1,012,899$1,627,997
67$2,310,192$1,229,132$1,006,308$1,706,953
68$2,504,032$1,247,560$998,220$1,792,155
69$2,716,326$1,265,574$988,543$1,884,223
70$2,948,917$1,283,112$977,185$1,983,839
71$3,203,831$1,300,109$964,045$2,091,761
72$3,483,301$1,316,494$949,020$2,208,820
73$3,789,786$1,332,191$932,001$2,335,936
74$4,125,996$1,347,119$912,874$2,474,127
75$4,494,912$1,361,193$891,521$2,624,512
76$4,899,823$1,374,321$867,816$2,788,328
77$5,344,346$1,386,404$841,629$2,966,942
78$5,832,471$1,397,339$812,825$3,161,860
79$6,368,588$1,407,015$781,260$3,374,747
80$6,957,538$1,415,312$746,786$3,607,437
81$7,604,650$1,422,106$709,247$3,861,958
82$8,315,797$1,427,262$668,479$4,140,544
83$9,097,449$1,430,637$624,313$4,445,663
84$9,956,732$1,432,082$576,571$4,780,037
85$10,901,499$1,431,435$525,067$5,146,670
86$11,940,402$1,428,525$469,607$5,548,877
87$13,082,972$1,423,172$409,988$5,990,314
88$14,339,711$1,415,183$345,998$6,475,017
89$15,722,188$1,404,354$277,416$7,007,437
90$17,243,153$1,390,469$204,011$7,592,483
91$18,916,652$1,373,298$125,542$8,235,574
92$20,758,160$1,352,599$41,757$8,942,686
93$22,784,730$1,328,115$0$9,720,410
94$25,015,151$1,299,571$0$10,583,646
95$27,470,126$1,266,680$0$11,540,414
96$30,172,467$1,229,135$0$12,592,916
97$33,147,308$1,186,612$0$13,750,958
98$36,422,347$1,138,770$0$15,025,351
99$40,028,101$1,085,244$0$16,428,015
100$43,998,199$1,025,652$0$17,972,094