Can I retire at age 57 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$81,588$80,861$80,152$79,460$78,785$76,539
2 years$40,390$39,638$38,909$38,202$37,516$35,271
3 years$26,659$25,904$25,177$24,476$23,802$21,628
4 years$19,795$19,042$18,322$17,634$16,976$14,889
5 years$15,678$14,929$14,219$13,545$12,905$10,912
6 years$12,934$12,191$11,491$10,832$10,211$8,313
7 years$10,975$10,238$9,549$8,905$8,304$6,502
8 years$9,506$8,776$8,098$7,470$6,889$5,181
9 years$8,364$7,641$6,975$6,363$5,802$4,186
10 years$7,451$6,735$6,081$5,485$4,943$3,418
11 years$6,705$5,996$5,354$4,774$4,251$2,814
12 years$6,083$5,382$4,751$4,187$3,684$2,332
13 years$5,558$4,863$4,245$3,697$3,213$1,942
14 years$5,108$4,421$3,814$3,281$2,816$1,625
15 years$4,718$4,038$3,444$2,926$2,480$1,364
16 years$4,377$3,705$3,122$2,620$2,192$1,148
17 years$4,077$3,412$2,841$2,354$1,943$969
18 years$3,810$3,153$2,593$2,122$1,728$819
19 years$3,572$2,922$2,374$1,917$1,540$694
20 years$3,358$2,715$2,179$1,736$1,376$589
21 years$3,164$2,529$2,004$1,576$1,231$500
22 years$2,989$2,361$1,847$1,433$1,103$425
23 years$2,829$2,208$1,706$1,305$990$361
24 years$2,682$2,069$1,577$1,190$890$308
25 years$2,547$1,942$1,461$1,087$801$262
26 years$2,423$1,825$1,355$994$722$223
27 years$2,308$1,717$1,258$910$651$190
28 years$2,202$1,618$1,170$833$587$162
29 years$2,103$1,527$1,088$764$530$139
30 years$2,011$1,442$1,014$701$479$118
31 years$1,925$1,363$945$644$433$101
32 years$1,845$1,290$882$592$392$86
33 years$1,769$1,221$823$544$354$74
34 years$1,699$1,158$769$501$321$63
35 years$1,632$1,098$719$461$291$54
36 years$1,569$1,042$673$425$263$46
37 years$1,510$990$630$391$239$39
38 years$1,454$941$590$361$216$33
39 years$1,401$894$553$333$196$29
40 years$1,351$851$518$307$178$24
41 years$1,303$810$486$283$161$21
42 years$1,258$771$456$261$147$18
43 years$1,215$735$427$241$133$15
44 years$1,174$701$401$223$121$13
45 years$1,135$668$377$206$110$11
46 years$1,098$637$354$190$100$10
47 years$1,062$608$332$175$90$8
48 years$1,028$581$312$162$82$7
49 years$996$554$294$150$75$6
50 years$965$530$276$138$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $988,000, adding $3,472 every year, while hoping to spend $59,853 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: 45/28/27 Blend
56$988,000$988,000$988,000$988,000
57$1,092,357$1,039,993$1,024,679$1,132,853
58$1,140,095$1,027,270$995,323$1,149,215
59$1,190,695$1,011,917$962,977$1,160,911
60$1,244,388$993,743$927,479$1,172,435
61$1,301,423$972,543$888,656$1,183,805
62$1,362,073$948,103$846,332$1,195,044
63$1,426,639$920,195$800,319$1,206,181
64$1,495,449$888,577$750,422$1,217,254
65$1,568,860$852,993$696,437$1,228,309
66$1,647,268$813,173$638,151$1,239,402
67$1,731,102$768,831$575,341$1,250,601
68$1,820,834$719,665$507,776$1,261,987
69$1,916,985$665,353$435,211$1,273,655
70$2,020,121$605,559$357,395$1,285,716
71$2,130,866$539,925$274,060$1,298,303
72$2,249,905$468,072$184,932$1,311,565
73$2,377,990$389,602$89,722$1,325,678
74$2,515,945$304,092$0$1,340,844
75$2,664,676$211,097$0$1,360,718
76$2,825,180$110,147$0$1,409,945
77$2,998,548$745$0$1,463,048
78$3,185,985$0$0$1,520,466
79$3,388,809$0$0$1,618,937
80$3,608,475$0$0$1,725,929
81$3,846,577$0$0$1,842,004
82$4,104,872$0$0$1,968,028
83$4,385,290$0$0$2,104,959
84$4,689,955$0$0$2,253,847
85$5,021,203$0$0$2,415,848
86$5,381,604$0$0$2,592,234
87$5,773,985$0$0$2,784,406
88$6,201,458$0$0$2,993,904
89$6,667,447$0$0$3,222,424
90$7,175,720$0$0$3,471,832
91$7,730,425$0$0$3,744,182
92$8,336,128$0$0$4,041,736
93$8,997,854$0$0$4,366,983
94$9,721,136$0$0$4,722,664
95$10,512,066$0$0$5,111,798
96$11,377,352$0$0$5,537,708
97$12,324,378$0$0$6,004,052
98$13,361,276$0$0$6,514,860
99$14,497,003$0$0$7,074,570
100$15,741,419$0$0$7,688,070