Can I retire at age 57 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$81,340$80,616$79,909$79,219$78,545$75,940
2 years$40,268$39,518$38,791$38,086$37,403$34,803
3 years$26,578$25,825$25,100$24,402$23,730$21,217
4 years$19,735$18,984$18,267$17,580$16,924$14,519
5 years$15,630$14,884$14,176$13,503$12,866$10,573
6 years$12,895$12,154$11,456$10,799$10,180$8,002
7 years$10,941$10,207$9,520$8,878$8,279$6,216
8 years$9,477$8,749$8,074$7,448$6,868$4,918
9 years$8,339$7,618$6,954$6,344$5,784$3,945
10 years$7,429$6,715$6,063$5,468$4,928$3,197
11 years$6,684$5,978$5,337$4,759$4,239$2,612
12 years$6,065$5,365$4,737$4,174$3,673$2,147
13 years$5,541$4,849$4,232$3,685$3,203$1,774
14 years$5,092$4,407$3,802$3,271$2,808$1,472
15 years$4,704$4,026$3,433$2,918$2,472$1,225
16 years$4,364$3,694$3,113$2,612$2,185$1,022
17 years$4,065$3,402$2,832$2,347$1,937$855
18 years$3,799$3,143$2,586$2,115$1,723$717
19 years$3,561$2,913$2,367$1,911$1,535$602
20 years$3,348$2,707$2,172$1,731$1,371$506
21 years$3,155$2,522$1,998$1,571$1,227$425
22 years$2,980$2,354$1,842$1,428$1,100$358
23 years$2,820$2,202$1,700$1,301$987$302
24 years$2,674$2,063$1,573$1,187$888$254
25 years$2,539$1,936$1,456$1,084$799$215
26 years$2,416$1,819$1,351$991$719$181
27 years$2,301$1,712$1,254$907$649$153
28 years$2,195$1,613$1,166$831$585$129
29 years$2,097$1,522$1,085$762$528$109
30 years$2,005$1,437$1,011$699$477$92
31 years$1,919$1,359$942$642$432$78
32 years$1,839$1,286$879$590$391$66
33 years$1,764$1,218$821$543$353$56
34 years$1,693$1,154$767$499$320$47
35 years$1,627$1,095$717$460$290$40
36 years$1,564$1,039$671$423$263$34
37 years$1,505$987$628$390$238$28
38 years$1,450$938$588$360$216$24
39 years$1,397$892$551$332$196$20
40 years$1,347$848$516$306$177$17
41 years$1,299$808$484$282$161$15
42 years$1,254$769$454$260$146$12
43 years$1,211$733$426$240$133$10
44 years$1,170$698$400$222$120$9
45 years$1,131$666$376$205$109$7
46 years$1,094$635$353$189$99$6
47 years$1,059$606$331$175$90$5
48 years$1,025$579$311$162$82$5
49 years$993$553$293$149$74$4
50 years$962$528$275$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $985,000, adding $2,633 every year, while hoping to spend $43,618 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: 27/43/30 Blend
56$985,000$985,000$985,000$985,000
57$1,088,186$1,035,981$1,020,713$1,107,392
58$1,152,772$1,040,335$1,008,498$1,127,667
59$1,222,483$1,043,440$994,412$1,145,528
60$1,297,798$1,045,190$978,345$1,163,833
61$1,379,238$1,045,469$960,186$1,182,652
62$1,467,382$1,044,159$939,813$1,202,064
63$1,562,861$1,041,128$917,103$1,222,162
64$1,666,372$1,036,243$891,925$1,243,051
65$1,778,680$1,029,357$864,142$1,264,850
66$1,900,627$1,020,317$833,613$1,287,697
67$2,033,139$1,008,961$800,187$1,311,749
68$2,177,235$995,115$763,709$1,337,181
69$2,334,035$978,598$724,015$1,364,195
70$2,504,772$959,215$680,936$1,393,017
71$2,690,804$936,762$634,292$1,423,903
72$2,893,623$911,020$583,898$1,457,143
73$3,114,873$881,760$529,559$1,493,060
74$3,356,362$848,739$471,071$1,532,020
75$3,620,083$811,699$408,223$1,574,434
76$3,908,225$770,366$340,793$1,620,763
77$4,223,204$724,454$268,550$1,671,523
78$4,567,675$673,657$191,250$1,727,292
79$4,944,564$617,652$108,643$1,788,716
80$5,357,092$556,099$20,465$1,856,520
81$5,808,805$488,638$0$1,931,510
82$6,303,610$414,887$0$2,038,160
83$6,845,807$334,446$0$2,162,427
84$7,440,134$246,889$0$2,298,971
85$8,091,808$151,767$0$2,449,140
86$8,806,576$48,606$0$2,614,431
87$9,590,766$0$0$2,796,499
88$10,451,350$0$0$3,027,033
89$11,396,007$0$0$3,305,503
90$12,433,195$0$0$3,611,422
91$13,572,233$0$0$3,947,561
92$14,823,384$0$0$4,316,970
93$16,197,956$0$0$4,723,013
94$17,708,406$0$0$5,169,392
95$19,368,458$0$0$5,660,187
96$21,193,229$0$0$6,199,894
97$23,199,376$0$0$6,793,466
98$25,405,250$0$0$7,446,359
99$27,831,068$0$0$8,164,587
100$30,499,106$0$0$8,954,772