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%19.2%
1 years$81,588$80,861$80,152$79,460$78,785$75,869
2 years$40,390$39,638$38,909$38,202$37,516$34,612
3 years$26,659$25,904$25,177$24,476$23,802$21,000
4 years$19,795$19,042$18,322$17,634$16,976$14,297
5 years$15,678$14,929$14,219$13,545$12,905$10,357
6 years$12,934$12,191$11,491$10,832$10,211$7,796
7 years$10,975$10,238$9,549$8,905$8,304$6,021
8 years$9,506$8,776$8,098$7,470$6,889$4,736
9 years$8,364$7,641$6,975$6,363$5,802$3,775
10 years$7,451$6,735$6,081$5,485$4,943$3,040
11 years$6,705$5,996$5,354$4,774$4,251$2,468
12 years$6,083$5,382$4,751$4,187$3,684$2,015
13 years$5,558$4,863$4,245$3,697$3,213$1,654
14 years$5,108$4,421$3,814$3,281$2,816$1,362
15 years$4,718$4,038$3,444$2,926$2,480$1,126
16 years$4,377$3,705$3,122$2,620$2,192$933
17 years$4,077$3,412$2,841$2,354$1,943$775
18 years$3,810$3,153$2,593$2,122$1,728$644
19 years$3,572$2,922$2,374$1,917$1,540$537
20 years$3,358$2,715$2,179$1,736$1,376$448
21 years$3,164$2,529$2,004$1,576$1,231$374
22 years$2,989$2,361$1,847$1,433$1,103$312
23 years$2,829$2,208$1,706$1,305$990$261
24 years$2,682$2,069$1,577$1,190$890$218
25 years$2,547$1,942$1,461$1,087$801$183
26 years$2,423$1,825$1,355$994$722$153
27 years$2,308$1,717$1,258$910$651$128
28 years$2,202$1,618$1,170$833$587$107
29 years$2,103$1,527$1,088$764$530$90
30 years$2,011$1,442$1,014$701$479$75
31 years$1,925$1,363$945$644$433$63
32 years$1,845$1,290$882$592$392$53
33 years$1,769$1,221$823$544$354$44
34 years$1,699$1,158$769$501$321$37
35 years$1,632$1,098$719$461$291$31
36 years$1,569$1,042$673$425$263$26
37 years$1,510$990$630$391$239$22
38 years$1,454$941$590$361$216$18
39 years$1,401$894$553$333$196$15
40 years$1,351$851$518$307$178$13
41 years$1,303$810$486$283$161$11
42 years$1,258$771$456$261$147$9
43 years$1,215$735$427$241$133$8
44 years$1,174$701$401$223$121$6
45 years$1,135$668$377$206$110$5
46 years$1,098$637$354$190$100$5
47 years$1,062$608$332$175$90$4
48 years$1,028$581$312$162$82$3
49 years$996$554$294$150$75$3
50 years$965$530$276$138$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $988,000, adding $5,041 every year, while hoping to spend $56,183 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: 82/10/8 Blend
56$988,000$988,000$988,000$988,000
57$1,093,976$1,041,612$1,026,298$1,182,205
58$1,145,783$1,032,872$1,000,900$1,231,931
59$1,200,992$1,021,822$972,769$1,278,507
60$1,259,889$1,008,288$941,754$1,327,922
61$1,322,791$992,087$907,695$1,380,429
62$1,390,042$973,025$870,429$1,436,308
63$1,462,020$950,898$829,783$1,495,863
64$1,539,142$925,487$785,576$1,559,434
65$1,621,862$896,564$737,621$1,627,391
66$1,710,680$863,883$685,719$1,700,144
67$1,806,144$827,188$629,665$1,778,145
68$1,908,856$786,206$569,244$1,861,892
69$2,019,477$740,648$504,232$1,951,934
70$2,138,733$690,208$434,392$2,048,874
71$2,267,420$634,566$359,482$2,153,380
72$2,406,416$573,378$279,243$2,266,187
73$2,556,683$506,286$193,410$2,388,104
74$2,719,278$432,907$101,703$2,520,026
75$2,895,365$352,841$3,831$2,662,936
76$3,086,223$265,660$0$2,817,922
77$3,293,257$170,917$0$2,994,768
78$3,518,015$68,138$0$3,187,116
79$3,762,196$0$0$3,396,120
80$4,027,672$0$0$3,628,169
81$4,316,501$0$0$3,888,808
82$4,630,949$0$0$4,172,585
83$4,973,505$0$0$4,481,751
84$5,346,914$0$0$4,818,784
85$5,754,194$0$0$5,186,412
86$6,198,665$0$0$5,587,635
87$6,683,985$0$0$6,025,757
88$7,214,179$0$0$6,504,415
89$7,793,678$0$0$7,027,614
90$8,427,362$0$0$7,599,761
91$9,120,601$0$0$8,225,710
92$9,879,310$0$0$8,910,805
93$10,710,002$0$0$9,660,931
94$11,619,850$0$0$10,482,568
95$12,616,751$0$0$11,382,854
96$13,709,403$0$0$12,369,647
97$14,907,387$0$0$13,451,603
98$16,221,254$0$0$14,638,258
99$17,662,625$0$0$15,940,110
100$19,244,299$0$0$17,368,728