Can I retire at age 57 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$81,423$80,698$79,990$79,299$78,625$76,169
2 years$40,308$39,558$38,830$38,125$37,440$34,988
3 years$26,605$25,851$25,126$24,427$23,754$21,382
4 years$19,755$19,004$18,285$17,598$16,941$14,668
5 years$15,646$14,899$14,190$13,517$12,879$10,710
6 years$12,908$12,166$11,468$10,810$10,190$8,128
7 years$10,952$10,217$9,530$8,887$8,288$6,332
8 years$9,487$8,758$8,082$7,455$6,875$5,025
9 years$8,347$7,625$6,961$6,350$5,790$4,043
10 years$7,436$6,721$6,069$5,474$4,933$3,286
11 years$6,691$5,984$5,343$4,764$4,243$2,693
12 years$6,071$5,371$4,742$4,179$3,677$2,222
13 years$5,546$4,853$4,236$3,689$3,206$1,842
14 years$5,097$4,412$3,806$3,275$2,811$1,533
15 years$4,708$4,030$3,437$2,921$2,475$1,281
16 years$4,368$3,698$3,116$2,615$2,187$1,073
17 years$4,069$3,405$2,835$2,350$1,939$901
18 years$3,803$3,147$2,588$2,117$1,724$758
19 years$3,565$2,916$2,369$1,913$1,537$638
20 years$3,351$2,710$2,174$1,733$1,373$539
21 years$3,158$2,524$2,000$1,573$1,228$455
22 years$2,983$2,356$1,843$1,430$1,101$384
23 years$2,823$2,204$1,702$1,302$988$325
24 years$2,676$2,065$1,574$1,188$888$275
25 years$2,542$1,938$1,458$1,085$799$233
26 years$2,418$1,821$1,352$992$720$198
27 years$2,304$1,714$1,256$908$649$168
28 years$2,198$1,615$1,167$832$586$142
29 years$2,099$1,524$1,086$763$529$121
30 years$2,007$1,439$1,012$700$478$102
31 years$1,921$1,360$943$643$432$87
32 years$1,841$1,287$880$591$391$74
33 years$1,766$1,219$822$543$354$63
34 years$1,695$1,155$768$500$320$53
35 years$1,629$1,096$718$460$290$45
36 years$1,566$1,040$672$424$263$38
37 years$1,507$988$629$391$238$33
38 years$1,451$939$589$360$216$28
39 years$1,398$893$551$332$196$23
40 years$1,348$849$517$306$178$20
41 years$1,300$808$485$282$161$17
42 years$1,255$770$455$261$146$14
43 years$1,212$734$427$241$133$12
44 years$1,172$699$400$222$120$10
45 years$1,133$667$376$205$109$9
46 years$1,095$636$353$190$99$7
47 years$1,060$607$332$175$90$6
48 years$1,026$579$312$162$82$5
49 years$994$553$293$150$74$5
50 years$963$529$276$138$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $986,000, adding $6,857 every year, while hoping to spend $56,237 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: 52/19/29 Blend
56$986,000$986,000$986,000$986,000
57$1,093,645$1,041,387$1,026,104$1,141,290
58$1,145,361$1,032,579$1,000,643$1,166,361
59$1,200,467$1,021,455$972,444$1,187,406
60$1,259,250$1,007,842$941,356$1,209,200
61$1,322,024$991,556$907,221$1,231,840
62$1,389,131$972,403$869,874$1,255,433
63$1,460,950$950,178$829,142$1,280,105
64$1,537,893$924,663$784,845$1,305,993
65$1,620,415$895,628$736,793$1,333,256
66$1,709,011$862,828$684,790$1,362,070
67$1,804,229$826,005$628,630$1,392,637
68$1,906,667$784,887$568,096$1,425,179
69$2,016,984$739,183$502,964$1,459,950
70$2,135,902$688,588$432,999$1,497,232
71$2,264,215$632,780$357,955$1,537,343
72$2,402,795$571,417$277,577$1,580,638
73$2,552,601$504,137$191,596$1,627,513
74$2,714,686$430,559$99,734$1,678,413
75$2,890,207$350,280$1,698$1,733,833
76$3,080,438$262,873$0$1,794,328
77$3,286,779$167,890$0$1,892,363
78$3,510,769$64,855$0$1,999,409
79$3,754,101$0$0$2,115,809
80$4,018,638$0$0$2,252,296
81$4,306,429$0$0$2,415,620
82$4,619,727$0$0$2,593,510
83$4,961,015$0$0$2,787,387
84$5,333,021$0$0$2,998,814
85$5,738,751$0$0$3,229,511
86$6,181,510$0$0$3,481,371
87$6,664,939$0$0$3,756,477
88$7,193,044$0$0$4,057,125
89$7,770,238$0$0$4,385,839
90$8,401,375$0$0$4,745,401
91$9,091,803$0$0$5,138,873
92$9,847,410$0$0$5,569,627
93$10,674,679$0$0$6,041,374
94$11,580,748$0$0$6,558,206
95$12,573,479$0$0$7,124,623
96$13,661,532$0$0$7,745,585
97$14,854,440$0$0$8,426,554
98$16,162,708$0$0$9,173,546
99$17,597,902$0$0$9,993,187
100$19,172,763$0$0$10,892,776