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%16.4%
1 years$81,093$80,370$79,666$78,978$78,306$76,258
2 years$40,145$39,397$38,673$37,970$37,289$35,240
3 years$26,497$25,747$25,024$24,328$23,657$21,671
4 years$19,675$18,926$18,211$17,527$16,873$14,964
5 years$15,583$14,839$14,132$13,462$12,826$11,001
6 years$12,855$12,117$11,421$10,766$10,149$8,409
7 years$10,908$10,176$9,491$8,851$8,254$6,599
8 years$9,448$8,722$8,049$7,425$6,847$5,277
9 years$8,313$7,594$6,933$6,325$5,767$4,279
10 years$7,406$6,694$6,044$5,452$4,913$3,507
11 years$6,664$5,959$5,321$4,745$4,226$2,899
12 years$6,046$5,349$4,722$4,162$3,662$2,411
13 years$5,524$4,834$4,219$3,674$3,193$2,017
14 years$5,077$4,394$3,791$3,262$2,799$1,694
15 years$4,689$4,014$3,423$2,909$2,465$1,428
16 years$4,351$3,683$3,103$2,604$2,178$1,208
17 years$4,052$3,392$2,824$2,340$1,931$1,024
18 years$3,787$3,134$2,578$2,109$1,717$869
19 years$3,550$2,904$2,360$1,906$1,531$740
20 years$3,338$2,699$2,166$1,726$1,367$630
21 years$3,145$2,514$1,992$1,566$1,223$538
22 years$2,971$2,347$1,836$1,424$1,097$459
23 years$2,811$2,195$1,695$1,297$984$392
24 years$2,666$2,056$1,568$1,183$885$336
25 years$2,532$1,930$1,452$1,080$796$287
26 years$2,408$1,814$1,347$988$717$246
27 years$2,294$1,707$1,251$904$647$211
28 years$2,189$1,608$1,163$828$583$181
29 years$2,090$1,517$1,082$760$527$155
30 years$1,999$1,433$1,008$697$476$133
31 years$1,913$1,355$939$640$430$114
32 years$1,834$1,282$877$588$389$98
33 years$1,759$1,214$818$541$352$84
34 years$1,688$1,150$765$498$319$72
35 years$1,622$1,091$715$458$289$62
36 years$1,560$1,036$669$422$262$53
37 years$1,501$984$626$389$237$46
38 years$1,445$935$586$358$215$39
39 years$1,392$889$549$331$195$34
40 years$1,343$846$515$305$177$29
41 years$1,295$805$483$281$161$25
42 years$1,250$767$453$260$146$21
43 years$1,207$731$425$240$132$18
44 years$1,167$696$399$221$120$16
45 years$1,128$664$374$204$109$13
46 years$1,091$633$352$189$99$12
47 years$1,056$605$330$174$90$10
48 years$1,022$577$311$161$82$9
49 years$990$551$292$149$74$7
50 years$959$526$274$138$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $982,000, adding $5,284 every year, while hoping to spend $44,585 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: 77/13/10 Blend
56$982,000$982,000$982,000$982,000
57$1,087,614$1,035,568$1,020,347$1,169,077
58$1,151,113$1,038,873$1,007,091$1,226,706
59$1,219,594$1,040,846$991,896$1,283,646
60$1,293,519$1,041,373$974,651$1,344,800
61$1,373,394$1,040,337$955,238$1,410,570
62$1,459,777$1,037,610$933,535$1,481,399
63$1,553,279$1,033,057$909,413$1,557,774
64$1,654,573$1,026,537$882,738$1,640,234
65$1,764,399$1,017,897$853,369$1,729,371
66$1,883,571$1,006,977$821,160$1,825,839
67$2,012,983$993,607$785,957$1,930,358
68$2,153,620$977,606$747,599$2,043,723
69$2,306,564$958,784$705,919$2,166,807
70$2,473,007$936,937$660,740$2,300,578
71$2,654,259$911,852$611,880$2,446,098
72$2,851,762$883,302$559,147$2,604,541
73$3,067,103$851,046$502,340$2,777,201
74$3,302,030$814,829$441,251$2,965,503
75$3,558,466$774,384$375,661$3,171,021
76$3,838,525$729,425$305,342$3,395,488
77$4,144,540$679,652$230,056$3,640,816
78$4,479,074$624,746$149,554$3,909,112
79$4,844,952$564,371$63,577$4,202,701
80$5,245,284$498,172$0$4,524,144
81$5,683,493$425,773$0$4,879,273
82$6,163,350$346,776$0$5,275,632
83$6,689,007$260,763$0$5,709,896
84$7,265,036$167,291$0$6,185,884
85$7,896,473$65,892$0$6,707,805
86$8,588,865$0$0$7,280,299
87$9,348,319$0$0$7,914,761
88$10,181,565$0$0$8,621,247
89$11,096,013$0$0$9,396,619
90$12,099,826$0$0$10,247,802
91$13,201,997$0$0$11,182,428
92$14,412,430$0$0$12,208,899
93$15,742,039$0$0$13,336,476
94$17,202,843$0$0$14,575,356
95$18,808,086$0$0$15,936,778
96$20,572,355$0$0$17,433,118
97$22,511,724$0$0$19,078,015
98$24,643,900$0$0$20,886,493
99$26,988,392$0$0$22,875,105
100$29,566,692$0$0$25,062,088