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%14.8%
1 years$81,010$80,288$79,584$78,897$78,226$76,678
2 years$40,104$39,357$38,633$37,931$37,251$35,698
3 years$26,470$25,720$24,998$24,303$23,633$22,124
4 years$19,655$18,907$18,192$17,509$16,855$15,401
5 years$15,567$14,823$14,118$13,449$12,813$11,418
6 years$12,842$12,104$11,409$10,755$10,139$8,804
7 years$10,897$10,165$9,481$8,842$8,245$6,972
8 years$9,438$8,714$8,041$7,418$6,840$5,627
9 years$8,305$7,587$6,926$6,318$5,761$4,607
10 years$7,398$6,687$6,038$5,446$4,908$3,814
11 years$6,657$5,953$5,316$4,740$4,221$3,184
12 years$6,040$5,343$4,718$4,157$3,658$2,677
13 years$5,518$4,829$4,215$3,670$3,190$2,263
14 years$5,071$4,389$3,787$3,258$2,796$1,922
15 years$4,684$4,010$3,419$2,906$2,462$1,638
16 years$4,346$3,679$3,100$2,602$2,176$1,401
17 years$4,048$3,388$2,821$2,338$1,929$1,201
18 years$3,783$3,131$2,575$2,107$1,716$1,032
19 years$3,547$2,902$2,357$1,904$1,529$889
20 years$3,334$2,696$2,163$1,724$1,366$766
21 years$3,142$2,511$1,990$1,565$1,222$662
22 years$2,968$2,344$1,834$1,423$1,096$572
23 years$2,808$2,193$1,693$1,296$983$495
24 years$2,663$2,054$1,566$1,182$884$429
25 years$2,529$1,928$1,451$1,079$795$372
26 years$2,406$1,812$1,345$987$716$323
27 years$2,292$1,705$1,249$903$646$280
28 years$2,186$1,607$1,161$828$583$243
29 years$2,088$1,516$1,081$759$526$211
30 years$1,997$1,432$1,007$696$476$184
31 years$1,912$1,353$938$640$430$160
32 years$1,832$1,280$876$588$389$139
33 years$1,757$1,213$818$541$352$121
34 years$1,687$1,149$764$497$319$105
35 years$1,620$1,090$714$458$289$91
36 years$1,558$1,035$668$422$262$79
37 years$1,499$983$625$389$237$69
38 years$1,444$934$586$358$215$60
39 years$1,391$888$549$330$195$52
40 years$1,341$845$514$305$177$46
41 years$1,294$804$482$281$160$40
42 years$1,249$766$452$259$146$35
43 years$1,206$730$424$239$132$30
44 years$1,166$696$398$221$120$26
45 years$1,127$663$374$204$109$23
46 years$1,090$633$351$189$99$20
47 years$1,055$604$330$174$90$17
48 years$1,021$577$310$161$81$15
49 years$989$551$292$149$74$13
50 years$958$526$274$138$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $981,000, adding $2,068 every year, while hoping to spend $35,509 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: 32/42/26 Blend
56$981,000$981,000$981,000$981,000
57$1,083,195$1,031,202$1,015,997$1,109,181
58$1,155,900$1,043,950$1,012,251$1,141,902
59$1,234,830$1,056,132$1,007,190$1,173,817
60$1,320,584$1,067,683$1,000,732$1,207,487
61$1,413,818$1,078,535$992,791$1,243,090
62$1,515,256$1,088,611$983,278$1,280,826
63$1,625,693$1,097,834$972,100$1,320,914
64$1,746,006$1,106,120$959,156$1,363,599
65$1,877,156$1,113,378$944,346$1,409,155
66$2,020,206$1,119,513$927,561$1,457,884
67$2,176,321$1,124,423$908,688$1,510,123
68$2,346,786$1,128,000$887,610$1,566,245
69$2,533,016$1,130,130$864,203$1,626,667
70$2,736,568$1,130,691$838,338$1,691,847
71$2,959,155$1,129,552$809,879$1,762,299
72$3,202,665$1,126,576$778,687$1,838,587
73$3,469,176$1,121,617$744,612$1,921,342
74$3,760,975$1,114,520$707,500$2,011,261
75$4,080,584$1,105,121$667,190$2,109,116
76$4,430,776$1,093,244$623,514$2,215,764
77$4,814,608$1,078,706$576,295$2,332,154
78$5,235,446$1,061,311$525,348$2,459,337
79$5,696,996$1,040,849$470,482$2,598,477
80$6,203,342$1,017,103$411,495$2,750,863
81$6,758,980$989,838$348,177$2,917,923
82$7,368,865$958,809$280,310$3,101,236
83$8,038,452$923,754$207,663$3,302,549
84$8,773,753$884,397$129,999$3,523,797
85$9,581,390$840,446$47,068$3,767,119
86$10,468,656$791,592$0$4,034,880
87$11,443,587$737,508$0$4,341,194
88$12,515,035$677,849$0$4,692,140
89$13,692,754$612,248$0$5,077,924
90$14,987,487$540,321$0$5,502,165
91$16,411,072$461,658$0$5,968,857
92$17,976,551$375,829$0$6,482,408
93$19,698,293$282,378$0$7,047,684
94$21,592,129$180,824$0$7,670,055
95$23,675,501$70,660$0$8,355,448
96$25,967,627$0$0$9,110,402
97$28,489,683$0$0$9,964,619
98$31,265,000$0$0$10,940,724
99$34,319,284$0$0$12,015,123
100$37,680,861$0$0$13,197,802