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 years$81,258$80,534$79,828$79,139$78,466$77,485
2 years$40,227$39,477$38,751$38,047$37,365$36,378
3 years$26,551$25,799$25,075$24,377$23,706$22,744
4 years$19,715$18,965$18,248$17,562$16,907$15,977
5 years$15,614$14,869$14,161$13,490$12,852$11,957
6 years$12,881$12,141$11,444$10,788$10,170$9,310
7 years$10,930$10,196$9,510$8,869$8,271$7,447
8 years$9,467$8,740$8,065$7,440$6,861$6,074
9 years$8,330$7,610$6,947$6,337$5,778$5,026
10 years$7,421$6,708$6,056$5,463$4,923$4,207
11 years$6,678$5,972$5,332$4,754$4,234$3,552
12 years$6,059$5,360$4,732$4,170$3,669$3,021
13 years$5,535$4,844$4,228$3,682$3,200$2,584
14 years$5,087$4,403$3,799$3,268$2,805$2,221
15 years$4,699$4,022$3,430$2,915$2,470$1,917
16 years$4,359$3,690$3,109$2,610$2,183$1,660
17 years$4,060$3,398$2,829$2,345$1,935$1,442
18 years$3,795$3,140$2,583$2,113$1,721$1,255
19 years$3,558$2,910$2,365$1,909$1,534$1,095
20 years$3,344$2,704$2,170$1,729$1,370$957
21 years$3,152$2,519$1,996$1,569$1,226$838
22 years$2,977$2,351$1,840$1,427$1,099$735
23 years$2,817$2,199$1,699$1,300$986$645
24 years$2,671$2,061$1,571$1,185$887$566
25 years$2,537$1,934$1,455$1,083$798$498
26 years$2,413$1,817$1,349$990$719$438
27 years$2,299$1,710$1,253$906$648$386
28 years$2,193$1,612$1,165$830$585$340
29 years$2,095$1,520$1,084$761$528$300
30 years$2,003$1,436$1,010$699$477$264
31 years$1,917$1,357$941$642$431$233
32 years$1,837$1,284$878$590$390$206
33 years$1,762$1,216$820$542$353$182
34 years$1,692$1,153$766$499$320$160
35 years$1,625$1,093$716$459$290$142
36 years$1,563$1,038$670$423$262$125
37 years$1,504$986$627$390$238$111
38 years$1,448$937$587$359$216$98
39 years$1,395$891$550$331$195$86
40 years$1,345$847$516$305$177$76
41 years$1,298$807$484$282$161$68
42 years$1,253$768$454$260$146$60
43 years$1,210$732$426$240$132$53
44 years$1,169$698$400$222$120$47
45 years$1,130$665$375$205$109$41
46 years$1,093$635$352$189$99$37
47 years$1,058$606$331$175$90$32
48 years$1,024$578$311$161$82$29
49 years$992$552$292$149$74$25
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 $6,298 every year, while hoping to spend $44,189 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: 71/22/7 Blend
56$984,000$984,000$984,000$984,000
57$1,090,864$1,038,712$1,023,460$1,166,715
58$1,155,116$1,042,593$1,010,730$1,221,538
59$1,224,440$1,045,182$996,091$1,275,444
60$1,299,307$1,046,370$979,435$1,333,222
61$1,380,235$1,046,041$960,645$1,395,241
62$1,467,793$1,044,070$939,600$1,461,909
63$1,562,604$1,040,327$916,173$1,533,676
64$1,665,357$1,034,670$890,232$1,611,038
65$1,776,807$1,026,952$861,638$1,694,541
66$1,897,784$1,017,016$830,246$1,784,790
67$2,029,203$1,004,694$795,904$1,882,449
68$2,172,069$989,812$758,454$1,988,254
69$2,327,488$972,180$717,730$2,103,014
70$2,496,676$951,601$673,558$2,227,624
71$2,680,972$927,865$625,758$2,363,069
72$2,881,851$900,750$574,140$2,510,438
73$3,100,932$870,020$518,507$2,670,930
74$3,340,002$835,425$458,651$2,845,871
75$3,601,024$796,703$394,358$3,036,721
76$3,886,161$753,574$325,402$3,245,090
77$4,197,794$705,744$251,547$3,472,758
78$4,538,544$652,900$172,549$3,721,686
79$4,911,296$594,713$88,150$3,994,036
80$5,319,229$530,834$0$4,292,195
81$5,765,840$460,895$0$4,618,940
82$6,254,983$384,506$0$4,984,067
83$6,790,901$301,257$0$5,384,209
84$7,378,267$210,712$0$5,822,922
85$8,022,228$112,414$0$6,304,128
86$8,728,450$5,878$0$6,832,149
87$9,503,178$0$0$7,411,753
88$10,353,287$0$0$8,074,680
89$11,286,353$0$0$8,803,912
90$12,310,717$0$0$9,604,553
91$13,435,572$0$0$10,483,792
92$14,671,039$0$0$11,449,550
93$16,028,274$0$0$12,510,552
94$17,519,561$0$0$13,676,411
95$19,158,436$0$0$14,957,715
96$20,959,810$0$0$16,366,132
97$22,940,112$0$0$17,914,512
98$25,117,441$0$0$19,617,017
99$27,511,736$0$0$21,489,248
100$30,144,967$0$0$23,548,391