Can I retire at age 57 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$81,010$80,288$79,584$78,897$78,226$77,571
2 years$40,104$39,357$38,633$37,931$37,251$36,590
3 years$26,470$25,720$24,998$24,303$23,633$22,988
4 years$19,655$18,907$18,192$17,509$16,855$16,230
5 years$15,567$14,823$14,118$13,449$12,813$12,210
6 years$12,842$12,104$11,409$10,755$10,139$9,559
7 years$10,897$10,165$9,481$8,842$8,245$7,689
8 years$9,438$8,714$8,041$7,418$6,840$6,307
9 years$8,305$7,587$6,926$6,318$5,761$5,250
10 years$7,398$6,687$6,038$5,446$4,908$4,420
11 years$6,657$5,953$5,316$4,740$4,221$3,756
12 years$6,040$5,343$4,718$4,157$3,658$3,214
13 years$5,518$4,829$4,215$3,670$3,190$2,768
14 years$5,071$4,389$3,787$3,258$2,796$2,395
15 years$4,684$4,010$3,419$2,906$2,462$2,081
16 years$4,346$3,679$3,100$2,602$2,176$1,814
17 years$4,048$3,388$2,821$2,338$1,929$1,587
18 years$3,783$3,131$2,575$2,107$1,716$1,391
19 years$3,547$2,902$2,357$1,904$1,529$1,223
20 years$3,334$2,696$2,163$1,724$1,366$1,077
21 years$3,142$2,511$1,990$1,565$1,222$949
22 years$2,968$2,344$1,834$1,423$1,096$839
23 years$2,808$2,193$1,693$1,296$983$742
24 years$2,663$2,054$1,566$1,182$884$657
25 years$2,529$1,928$1,451$1,079$795$582
26 years$2,406$1,812$1,345$987$716$516
27 years$2,292$1,705$1,249$903$646$458
28 years$2,186$1,607$1,161$828$583$407
29 years$2,088$1,516$1,081$759$526$361
30 years$1,997$1,432$1,007$696$476$321
31 years$1,912$1,353$938$640$430$286
32 years$1,832$1,280$876$588$389$254
33 years$1,757$1,213$818$541$352$227
34 years$1,687$1,149$764$497$319$202
35 years$1,620$1,090$714$458$289$180
36 years$1,558$1,035$668$422$262$160
37 years$1,499$983$625$389$237$143
38 years$1,444$934$586$358$215$127
39 years$1,391$888$549$330$195$113
40 years$1,341$845$514$305$177$101
41 years$1,294$804$482$281$160$90
42 years$1,249$766$452$259$146$80
43 years$1,206$730$424$239$132$72
44 years$1,166$696$398$221$120$64
45 years$1,127$663$374$204$109$57
46 years$1,090$633$351$189$99$51
47 years$1,055$604$330$174$90$45
48 years$1,021$577$310$161$81$41
49 years$989$551$292$149$74$36
50 years$958$526$274$138$67$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $981,000, adding $2,711 every year, while hoping to spend $54,476 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: 68/6/26 Blend
56$981,000$981,000$981,000$981,000
57$1,083,858$1,031,865$1,016,660$1,150,106
58$1,136,450$1,024,465$992,756$1,187,549
59$1,192,580$1,014,876$966,225$1,222,026
60$1,252,552$1,002,933$936,923$1,258,493
61$1,316,698$988,463$904,696$1,297,149
62$1,385,384$971,280$869,386$1,338,212
63$1,459,009$951,189$830,825$1,381,925
64$1,538,011$927,980$788,841$1,428,556
65$1,622,872$901,435$743,252$1,478,405
66$1,714,121$871,321$693,866$1,531,801
67$1,812,337$837,392$640,486$1,589,110
68$1,918,157$799,386$582,905$1,650,739
69$2,032,281$757,028$520,904$1,717,134
70$2,155,478$710,027$454,259$1,788,795
71$2,288,592$658,073$382,732$1,866,269
72$2,432,551$600,841$306,076$1,950,168
73$2,588,375$537,987$224,034$2,041,163
74$2,757,187$469,145$136,335$2,140,000
75$2,940,217$393,931$42,701$2,247,505
76$3,138,824$311,938$0$2,364,588
77$3,354,498$222,737$0$2,508,134
78$3,588,879$125,873$0$2,677,055
79$3,843,772$20,869$0$2,860,816
80$4,121,163$0$0$3,060,870
81$4,423,235$0$0$3,284,948
82$4,752,392$0$0$3,530,671
83$5,111,280$0$0$3,798,644
84$5,502,810$0$0$4,091,047
85$5,930,186$0$0$4,410,281
86$6,396,937$0$0$4,758,988
87$6,906,945$0$0$5,140,078
88$7,464,486$0$0$5,556,752
89$8,074,267$0$0$6,012,537
90$8,741,471$0$0$6,511,315
91$9,471,803$0$0$7,057,362
92$10,271,548$0$0$7,655,386
93$11,147,626$0$0$8,310,571
94$12,107,659$0$0$9,028,625
95$13,160,038$0$0$9,815,839
96$14,314,008$0$0$10,679,136
97$15,579,750$0$0$11,626,145
98$16,968,477$0$0$12,665,268
99$18,492,542$0$0$13,805,759
100$20,165,550$0$0$15,057,812