Can I retire at age 57 with 984,000?

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 $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%14%
1 years$81,258$80,534$79,828$79,139$78,466$77,166
2 years$40,227$39,477$38,751$38,047$37,365$36,059
3 years$26,551$25,799$25,075$24,377$23,706$22,434
4 years$19,715$18,965$18,248$17,562$16,907$15,680
5 years$15,614$14,869$14,161$13,490$12,852$11,674
6 years$12,881$12,141$11,444$10,788$10,170$9,041
7 years$10,930$10,196$9,510$8,869$8,271$7,191
8 years$9,467$8,740$8,065$7,440$6,861$5,831
9 years$8,330$7,610$6,947$6,337$5,778$4,797
10 years$7,421$6,708$6,056$5,463$4,923$3,991
11 years$6,678$5,972$5,332$4,754$4,234$3,349
12 years$6,059$5,360$4,732$4,170$3,669$2,830
13 years$5,535$4,844$4,228$3,682$3,200$2,405
14 years$5,087$4,403$3,799$3,268$2,805$2,053
15 years$4,699$4,022$3,430$2,915$2,470$1,760
16 years$4,359$3,690$3,109$2,610$2,183$1,514
17 years$4,060$3,398$2,829$2,345$1,935$1,305
18 years$3,795$3,140$2,583$2,113$1,721$1,128
19 years$3,558$2,910$2,365$1,909$1,534$977
20 years$3,344$2,704$2,170$1,729$1,370$848
21 years$3,152$2,519$1,996$1,569$1,226$737
22 years$2,977$2,351$1,840$1,427$1,099$641
23 years$2,817$2,199$1,699$1,300$986$558
24 years$2,671$2,061$1,571$1,185$887$486
25 years$2,537$1,934$1,455$1,083$798$424
26 years$2,413$1,817$1,349$990$719$370
27 years$2,299$1,710$1,253$906$648$324
28 years$2,193$1,612$1,165$830$585$283
29 years$2,095$1,520$1,084$761$528$247
30 years$2,003$1,436$1,010$699$477$216
31 years$1,917$1,357$941$642$431$189
32 years$1,837$1,284$878$590$390$166
33 years$1,762$1,216$820$542$353$145
34 years$1,692$1,153$766$499$320$127
35 years$1,625$1,093$716$459$290$111
36 years$1,563$1,038$670$423$262$97
37 years$1,504$986$627$390$238$85
38 years$1,448$937$587$359$216$75
39 years$1,395$891$550$331$195$66
40 years$1,345$847$516$305$177$57
41 years$1,298$807$484$282$161$50
42 years$1,253$768$454$260$146$44
43 years$1,210$732$426$240$132$39
44 years$1,169$698$400$222$120$34
45 years$1,130$665$375$205$109$30
46 years$1,093$635$352$189$99$26
47 years$1,058$606$331$175$90$23
48 years$1,024$578$311$161$82$20
49 years$992$552$292$149$74$18
50 years$961$528$275$138$67$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $984,000, adding $2,472 every year, while hoping to spend $35,165 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: 30/49/21 Blend
56$984,000$984,000$984,000$984,000
57$1,086,918$1,034,766$1,019,514$1,112,328
58$1,160,368$1,048,054$1,016,252$1,145,197
59$1,240,132$1,060,815$1,011,703$1,177,211
60$1,326,816$1,072,985$1,005,785$1,210,915
61$1,421,087$1,084,498$998,416$1,246,477
62$1,523,681$1,095,281$989,505$1,284,083
63$1,635,405$1,105,259$978,963$1,323,942
64$1,757,149$1,114,349$966,690$1,366,284
65$1,889,891$1,122,465$952,587$1,411,366
66$2,034,708$1,129,514$936,547$1,459,475
67$2,192,787$1,135,398$918,459$1,510,928
68$2,365,431$1,140,012$898,208$1,566,077
69$2,554,077$1,143,246$875,670$1,625,313
70$2,760,308$1,144,980$850,720$1,689,071
71$2,985,865$1,145,089$823,224$1,757,834
72$3,232,664$1,143,439$793,044$1,832,137
73$3,502,818$1,139,890$760,032$1,912,573
74$3,798,650$1,134,289$724,039$1,999,800
75$4,122,722$1,126,479$684,903$2,094,549
76$4,477,852$1,116,289$642,460$2,197,628
77$4,867,145$1,103,539$596,535$2,309,935
78$5,294,022$1,088,041$546,947$2,432,463
79$5,762,249$1,069,592$493,506$2,566,312
80$6,275,975$1,047,978$436,015$2,712,702
81$6,839,768$1,022,973$374,266$2,872,981
82$7,458,664$994,338$308,043$3,048,645
83$8,138,206$961,818$237,120$3,241,346
84$8,884,502$925,146$161,263$3,452,916
85$9,704,280$884,038$80,224$3,685,379
86$10,604,953$838,192$0$3,940,976
87$11,594,686$787,291$0$4,223,587
88$12,682,475$730,999$0$4,553,825
89$13,878,229$668,960$0$4,916,789
90$15,192,868$600,799$0$5,315,894
91$16,638,421$526,118$0$5,754,913
92$18,228,140$444,498$0$6,238,011
93$19,976,628$355,496$0$6,769,787
94$21,899,972$258,643$0$7,355,319
95$24,015,897$153,444$0$8,000,211
96$26,343,933$39,378$0$8,710,652
97$28,905,599$0$0$9,493,471
98$31,724,605$0$0$10,401,557
99$34,827,074$0$0$11,424,506
100$38,241,792$0$0$12,550,598