Can I retire at age 57 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$81,258$80,534$79,828$79,139$78,466$77,453
2 years$40,227$39,477$38,751$38,047$37,365$36,346
3 years$26,551$25,799$25,075$24,377$23,706$22,712
4 years$19,715$18,965$18,248$17,562$16,907$15,947
5 years$15,614$14,869$14,161$13,490$12,852$11,928
6 years$12,881$12,141$11,444$10,788$10,170$9,283
7 years$10,930$10,196$9,510$8,869$8,271$7,421
8 years$9,467$8,740$8,065$7,440$6,861$6,049
9 years$8,330$7,610$6,947$6,337$5,778$5,003
10 years$7,421$6,708$6,056$5,463$4,923$4,185
11 years$6,678$5,972$5,332$4,754$4,234$3,531
12 years$6,059$5,360$4,732$4,170$3,669$3,001
13 years$5,535$4,844$4,228$3,682$3,200$2,566
14 years$5,087$4,403$3,799$3,268$2,805$2,204
15 years$4,699$4,022$3,430$2,915$2,470$1,901
16 years$4,359$3,690$3,109$2,610$2,183$1,645
17 years$4,060$3,398$2,829$2,345$1,935$1,428
18 years$3,795$3,140$2,583$2,113$1,721$1,242
19 years$3,558$2,910$2,365$1,909$1,534$1,083
20 years$3,344$2,704$2,170$1,729$1,370$946
21 years$3,152$2,519$1,996$1,569$1,226$827
22 years$2,977$2,351$1,840$1,427$1,099$725
23 years$2,817$2,199$1,699$1,300$986$635
24 years$2,671$2,061$1,571$1,185$887$558
25 years$2,537$1,934$1,455$1,083$798$490
26 years$2,413$1,817$1,349$990$719$431
27 years$2,299$1,710$1,253$906$648$379
28 years$2,193$1,612$1,165$830$585$334
29 years$2,095$1,520$1,084$761$528$294
30 years$2,003$1,436$1,010$699$477$259
31 years$1,917$1,357$941$642$431$228
32 years$1,837$1,284$878$590$390$201
33 years$1,762$1,216$820$542$353$178
34 years$1,692$1,153$766$499$320$157
35 years$1,625$1,093$716$459$290$138
36 years$1,563$1,038$670$423$262$122
37 years$1,504$986$627$390$238$108
38 years$1,448$937$587$359$216$95
39 years$1,395$891$550$331$195$84
40 years$1,345$847$516$305$177$74
41 years$1,298$807$484$282$161$66
42 years$1,253$768$454$260$146$58
43 years$1,210$732$426$240$132$51
44 years$1,169$698$400$222$120$45
45 years$1,130$665$375$205$109$40
46 years$1,093$635$352$189$99$35
47 years$1,058$606$331$175$90$31
48 years$1,024$578$311$161$82$28
49 years$992$552$292$149$74$24
50 years$961$528$275$138$67$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $984,000, adding $5,350 every year, while hoping to spend $36,215 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: 55/21/24 Blend
56$984,000$984,000$984,000$984,000
57$1,089,887$1,037,735$1,022,483$1,142,389
58$1,162,522$1,050,051$1,018,203$1,191,344
59$1,241,354$1,061,757$1,012,567$1,240,394
60$1,326,973$1,072,785$1,005,489$1,293,055
61$1,420,035$1,083,062$996,884$1,349,686
62$1,521,257$1,092,510$986,657$1,410,680
63$1,631,429$1,101,047$974,715$1,476,476
64$1,751,421$1,108,585$960,954$1,547,556
65$1,882,191$1,115,031$945,271$1,624,454
66$2,024,791$1,120,284$927,554$1,707,759
67$2,180,381$1,124,239$907,688$1,798,122
68$2,350,236$1,126,783$885,552$1,896,260
69$2,535,762$1,127,796$861,020$2,002,969
70$2,738,503$1,127,153$833,958$2,119,123
71$2,960,164$1,124,716$804,228$2,245,692
72$3,202,617$1,120,344$771,687$2,383,743
73$3,467,927$1,113,883$736,181$2,534,457
74$3,758,365$1,105,174$697,553$2,699,136
75$4,076,435$1,094,044$655,638$2,879,218
76$4,424,891$1,080,312$610,261$3,076,290
77$4,806,769$1,063,786$561,244$3,292,105
78$5,225,410$1,044,262$508,396$3,528,597
79$5,684,496$1,021,525$451,521$3,787,901
80$6,188,080$995,345$390,413$4,072,372
81$6,740,629$965,482$324,856$4,384,611
82$7,347,060$931,678$254,626$4,727,487
83$8,012,793$893,662$179,489$5,104,166
84$8,743,794$851,148$99,198$5,518,142
85$9,546,640$803,833$13,500$5,973,269
86$10,428,571$751,395$0$6,473,800
87$11,397,567$693,495$0$7,044,391
88$12,462,416$629,774$0$7,675,241
89$13,632,803$559,853$0$8,368,676
90$14,919,395$483,331$0$9,131,071
91$16,333,944$399,786$0$9,969,456
92$17,889,400$308,769$0$10,891,582
93$19,600,028$209,808$0$11,905,988
94$21,481,547$102,404$0$13,022,093
95$23,551,273$0$0$14,250,274
96$25,828,287$0$0$15,605,202
97$28,333,613$0$0$17,122,127
98$31,090,413$0$0$18,791,421
99$34,124,210$0$0$20,628,552
100$37,463,126$0$0$22,650,564