Can I retire at age 57 with 982,000?

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 $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%16.9%
1 years$81,093$80,370$79,666$78,978$78,306$76,105
2 years$40,145$39,397$38,673$37,970$37,289$35,087
3 years$26,497$25,747$25,024$24,328$23,657$21,525
4 years$19,675$18,926$18,211$17,527$16,873$14,826
5 years$15,583$14,839$14,132$13,462$12,826$10,871
6 years$12,855$12,117$11,421$10,766$10,149$8,287
7 years$10,908$10,176$9,491$8,851$8,254$6,485
8 years$9,448$8,722$8,049$7,425$6,847$5,170
9 years$8,313$7,594$6,933$6,325$5,767$4,180
10 years$7,406$6,694$6,044$5,452$4,913$3,415
11 years$6,664$5,959$5,321$4,745$4,226$2,814
12 years$6,046$5,349$4,722$4,162$3,662$2,333
13 years$5,524$4,834$4,219$3,674$3,193$1,945
14 years$5,077$4,394$3,791$3,262$2,799$1,628
15 years$4,689$4,014$3,423$2,909$2,465$1,368
16 years$4,351$3,683$3,103$2,604$2,178$1,152
17 years$4,052$3,392$2,824$2,340$1,931$973
18 years$3,787$3,134$2,578$2,109$1,717$823
19 years$3,550$2,904$2,360$1,906$1,531$698
20 years$3,338$2,699$2,166$1,726$1,367$592
21 years$3,145$2,514$1,992$1,566$1,223$503
22 years$2,971$2,347$1,836$1,424$1,097$428
23 years$2,811$2,195$1,695$1,297$984$365
24 years$2,666$2,056$1,568$1,183$885$311
25 years$2,532$1,930$1,452$1,080$796$265
26 years$2,408$1,814$1,347$988$717$226
27 years$2,294$1,707$1,251$904$647$193
28 years$2,189$1,608$1,163$828$583$164
29 years$2,090$1,517$1,082$760$527$140
30 years$1,999$1,433$1,008$697$476$120
31 years$1,913$1,355$939$640$430$102
32 years$1,834$1,282$877$588$389$88
33 years$1,759$1,214$818$541$352$75
34 years$1,688$1,150$765$498$319$64
35 years$1,622$1,091$715$458$289$55
36 years$1,560$1,036$669$422$262$47
37 years$1,501$984$626$389$237$40
38 years$1,445$935$586$358$215$34
39 years$1,392$889$549$331$195$29
40 years$1,343$846$515$305$177$25
41 years$1,295$805$483$281$161$21
42 years$1,250$767$453$260$146$18
43 years$1,207$731$425$240$132$16
44 years$1,167$696$399$221$120$13
45 years$1,128$664$374$204$109$11
46 years$1,091$633$352$189$99$10
47 years$1,056$605$330$174$90$8
48 years$1,022$577$311$161$82$7
49 years$990$551$292$149$74$6
50 years$959$526$274$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $982,000, adding $4,062 every year, while hoping to spend $46,450 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: 47/40/13 Blend
56$982,000$982,000$982,000$982,000
57$1,086,354$1,034,308$1,019,087$1,133,280
58$1,147,740$1,035,567$1,003,804$1,167,403
59$1,213,830$1,035,330$986,452$1,199,315
60$1,285,055$1,033,476$966,913$1,232,918
61$1,361,889$1,029,875$945,063$1,268,386
62$1,444,852$1,024,389$920,773$1,305,913
63$1,534,514$1,016,871$893,906$1,345,716
64$1,631,504$1,007,167$864,321$1,388,035
65$1,736,512$995,113$831,870$1,433,139
66$1,850,296$980,533$796,398$1,481,328
67$1,973,691$963,244$757,742$1,532,935
68$2,107,615$943,050$715,733$1,588,329
69$2,253,075$919,743$670,194$1,647,924
70$2,411,183$893,105$620,940$1,712,177
71$2,583,159$862,902$567,777$1,781,597
72$2,770,347$828,890$510,503$1,856,749
73$2,974,224$790,808$448,907$1,938,263
74$3,196,418$748,381$382,768$2,026,836
75$3,438,719$701,317$311,857$2,123,243
76$3,703,097$649,311$235,933$2,228,341
77$3,991,721$592,035$154,744$2,343,085
78$4,306,977$529,146$68,030$2,468,533
79$4,651,496$460,280$0$2,605,855
80$5,028,169$385,055$0$2,759,752
81$5,440,183$303,063$0$2,938,554
82$5,891,045$213,877$0$3,134,452
83$6,384,618$117,043$0$3,349,257
84$6,925,155$12,084$0$3,584,971
85$7,517,340$0$0$3,843,808
86$8,166,331$0$0$4,172,894
87$8,877,809$0$0$4,539,608
88$9,658,031$0$0$4,941,872
89$10,513,888$0$0$5,383,251
90$11,452,971$0$0$5,867,677
91$12,483,641$0$0$6,399,477
92$13,615,106$0$0$6,983,420
93$14,857,512$0$0$7,624,758
94$16,222,034$0$0$8,329,276
95$17,720,983$0$0$9,103,350
96$19,367,920$0$0$9,954,000
97$21,177,785$0$0$10,888,963
98$23,167,038$0$0$11,916,761
99$25,353,812$0$0$13,046,784
100$27,758,085$0$0$14,289,377