Can I retire at age 57 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$81,093$80,370$79,666$78,978$78,306$77,392
2 years$40,145$39,397$38,673$37,970$37,289$36,368
3 years$26,497$25,747$25,024$24,328$23,657$22,760
4 years$19,675$18,926$18,211$17,527$16,873$16,004
5 years$15,583$14,839$14,132$13,462$12,826$11,990
6 years$12,855$12,117$11,421$10,766$10,149$9,346
7 years$10,908$10,176$9,491$8,851$8,254$7,484
8 years$9,448$8,722$8,049$7,425$6,847$6,111
9 years$8,313$7,594$6,933$6,325$5,767$5,063
10 years$7,406$6,694$6,044$5,452$4,913$4,243
11 years$6,664$5,959$5,321$4,745$4,226$3,587
12 years$6,046$5,349$4,722$4,162$3,662$3,054
13 years$5,524$4,834$4,219$3,674$3,193$2,616
14 years$5,077$4,394$3,791$3,262$2,799$2,252
15 years$4,689$4,014$3,423$2,909$2,465$1,946
16 years$4,351$3,683$3,103$2,604$2,178$1,688
17 years$4,052$3,392$2,824$2,340$1,931$1,468
18 years$3,787$3,134$2,578$2,109$1,717$1,280
19 years$3,550$2,904$2,360$1,906$1,531$1,118
20 years$3,338$2,699$2,166$1,726$1,367$979
21 years$3,145$2,514$1,992$1,566$1,223$858
22 years$2,971$2,347$1,836$1,424$1,097$753
23 years$2,811$2,195$1,695$1,297$984$662
24 years$2,666$2,056$1,568$1,183$885$583
25 years$2,532$1,930$1,452$1,080$796$513
26 years$2,408$1,814$1,347$988$717$452
27 years$2,294$1,707$1,251$904$647$399
28 years$2,189$1,608$1,163$828$583$352
29 years$2,090$1,517$1,082$760$527$311
30 years$1,999$1,433$1,008$697$476$274
31 years$1,913$1,355$939$640$430$243
32 years$1,834$1,282$877$588$389$214
33 years$1,759$1,214$818$541$352$190
34 years$1,688$1,150$765$498$319$168
35 years$1,622$1,091$715$458$289$148
36 years$1,560$1,036$669$422$262$131
37 years$1,501$984$626$389$237$116
38 years$1,445$935$586$358$215$103
39 years$1,392$889$549$331$195$91
40 years$1,343$846$515$305$177$81
41 years$1,295$805$483$281$161$72
42 years$1,250$767$453$260$146$63
43 years$1,207$731$425$240$132$56
44 years$1,167$696$399$221$120$50
45 years$1,128$664$374$204$109$44
46 years$1,091$633$352$189$99$39
47 years$1,056$605$330$174$90$35
48 years$1,022$577$311$161$82$31
49 years$990$551$292$149$74$27
50 years$959$526$274$138$67$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $982,000, adding $6,342 every year, while hoping to spend $59,388 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: 54/33/13 Blend
56$982,000$982,000$982,000$982,000
57$1,088,706$1,036,660$1,021,439$1,143,468
58$1,136,565$1,024,268$992,469$1,169,039
59$1,187,316$1,009,278$960,537$1,189,911
60$1,241,191$991,501$925,484$1,211,262
61$1,298,442$970,735$887,138$1,233,151
62$1,359,349$946,766$845,322$1,255,645
63$1,424,215$919,370$799,853$1,278,823
64$1,493,373$888,307$750,536$1,302,775
65$1,567,188$853,325$697,170$1,327,602
66$1,646,059$814,156$639,543$1,353,421
67$1,730,423$770,516$577,434$1,380,366
68$1,820,761$722,106$510,613$1,408,588
69$1,917,600$668,611$438,840$1,438,258
70$2,021,517$609,694$361,862$1,469,571
71$2,133,145$545,002$279,418$1,502,746
72$2,253,181$474,162$191,233$1,538,032
73$2,382,387$396,778$97,022$1,575,706
74$2,521,603$312,433$0$1,616,085
75$2,671,750$220,685$0$1,660,010
76$2,833,839$121,070$0$1,721,784
77$3,008,983$13,095$0$1,788,427
78$3,198,404$0$0$1,860,485
79$3,403,444$0$0$1,976,247
80$3,625,581$0$0$2,106,890
81$3,866,438$0$0$2,248,625
82$4,127,800$0$0$2,402,511
83$4,411,632$0$0$2,569,717
84$4,720,092$0$0$2,751,525
85$5,055,557$0$0$2,949,349
86$5,420,641$0$0$3,164,741
87$5,818,220$0$0$3,399,411
88$6,251,459$0$0$3,655,242
89$6,723,842$0$0$3,934,304
90$7,239,202$0$0$4,238,877
91$7,801,759$0$0$4,571,469
92$8,416,158$0$0$4,934,842
93$9,087,511$0$0$5,332,038
94$9,821,450$0$0$5,766,404
95$10,624,171$0$0$6,241,626
96$11,502,499$0$0$6,761,762
97$12,463,949$0$0$7,331,282
98$13,516,794$0$0$7,955,108
99$14,670,147$0$0$8,638,659
100$15,934,044$0$0$9,387,904