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%15.1%
1 years$81,010$80,288$79,584$78,897$78,226$76,584
2 years$40,104$39,357$38,633$37,931$37,251$35,604
3 years$26,470$25,720$24,998$24,303$23,633$22,034
4 years$19,655$18,907$18,192$17,509$16,855$15,315
5 years$15,567$14,823$14,118$13,449$12,813$11,336
6 years$12,842$12,104$11,409$10,755$10,139$8,727
7 years$10,897$10,165$9,481$8,842$8,245$6,899
8 years$9,438$8,714$8,041$7,418$6,840$5,559
9 years$8,305$7,587$6,926$6,318$5,761$4,543
10 years$7,398$6,687$6,038$5,446$4,908$3,754
11 years$6,657$5,953$5,316$4,740$4,221$3,128
12 years$6,040$5,343$4,718$4,157$3,658$2,624
13 years$5,518$4,829$4,215$3,670$3,190$2,214
14 years$5,071$4,389$3,787$3,258$2,796$1,877
15 years$4,684$4,010$3,419$2,906$2,462$1,596
16 years$4,346$3,679$3,100$2,602$2,176$1,362
17 years$4,048$3,388$2,821$2,338$1,929$1,166
18 years$3,783$3,131$2,575$2,107$1,716$999
19 years$3,547$2,902$2,357$1,904$1,529$859
20 years$3,334$2,696$2,163$1,724$1,366$739
21 years$3,142$2,511$1,990$1,565$1,222$637
22 years$2,968$2,344$1,834$1,423$1,096$549
23 years$2,808$2,193$1,693$1,296$983$474
24 years$2,663$2,054$1,566$1,182$884$410
25 years$2,529$1,928$1,451$1,079$795$354
26 years$2,406$1,812$1,345$987$716$307
27 years$2,292$1,705$1,249$903$646$265
28 years$2,186$1,607$1,161$828$583$230
29 years$2,088$1,516$1,081$759$526$199
30 years$1,997$1,432$1,007$696$476$173
31 years$1,912$1,353$938$640$430$150
32 years$1,832$1,280$876$588$389$130
33 years$1,757$1,213$818$541$352$113
34 years$1,687$1,149$764$497$319$98
35 years$1,620$1,090$714$458$289$85
36 years$1,558$1,035$668$422$262$74
37 years$1,499$983$625$389$237$64
38 years$1,444$934$586$358$215$56
39 years$1,391$888$549$330$195$48
40 years$1,341$845$514$305$177$42
41 years$1,294$804$482$281$160$36
42 years$1,249$766$452$259$146$32
43 years$1,206$730$424$239$132$27
44 years$1,166$696$398$221$120$24
45 years$1,127$663$374$204$109$21
46 years$1,090$633$351$189$99$18
47 years$1,055$604$330$174$90$16
48 years$1,021$577$310$161$81$14
49 years$989$551$292$149$74$12
50 years$958$526$274$138$67$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $981,000, adding $6,558 every year, while hoping to spend $44,423 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: 61/15/24 Blend
56$981,000$981,000$981,000$981,000
57$1,087,827$1,035,834$1,020,628$1,146,879
58$1,151,519$1,039,324$1,007,553$1,191,194
59$1,220,220$1,041,496$992,552$1,234,112
60$1,294,392$1,042,239$975,512$1,279,981
61$1,374,545$1,041,434$956,317$1,329,097
62$1,461,240$1,038,956$934,845$1,381,786
63$1,555,092$1,034,671$910,968$1,438,410
64$1,656,779$1,028,437$884,553$1,499,368
65$1,767,045$1,020,104$855,460$1,565,102
66$1,886,707$1,009,513$823,542$1,636,102
67$2,016,667$996,495$788,646$1,712,908
68$2,157,915$980,871$750,613$1,796,118
69$2,311,540$962,451$709,276$1,886,393
70$2,478,740$941,035$664,460$1,984,465
71$2,660,834$916,408$615,983$2,091,141
72$2,859,274$888,347$563,653$2,207,314
73$3,075,657$856,613$507,272$2,333,971
74$3,311,739$820,952$446,631$2,472,202
75$3,569,457$781,099$381,513$2,623,212
76$3,850,939$736,771$311,692$2,788,332
77$4,158,530$687,668$236,929$2,969,032
78$4,494,812$633,475$156,978$3,166,938
79$4,862,626$573,859$71,580$3,383,842
80$5,265,102$508,466$0$3,621,726
81$5,705,684$436,922$0$3,887,785
82$6,188,167$358,835$0$4,199,315
83$6,716,730$273,787$0$4,540,709
84$7,295,973$181,339$0$4,914,990
85$7,930,964$81,027$0$5,325,491
86$8,627,284$0$0$5,775,887
87$9,391,081$0$0$6,274,789
88$10,229,125$0$0$6,836,939
89$11,148,875$0$0$7,453,976
90$12,158,545$0$0$8,131,420
91$13,267,185$0$0$8,875,353
92$14,484,762$0$0$9,692,475
93$15,822,259$0$0$10,590,167
94$17,291,772$0$0$11,576,558
95$18,906,628$0$0$12,660,606
96$20,681,510$0$0$13,852,179
97$22,632,590$0$0$15,162,149
98$24,777,691$0$0$16,602,492
99$27,136,443$0$0$18,186,405
100$29,730,479$0$0$19,928,427