Can I retire at age 57 with 988,000?

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 $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%14.9%
1 years$81,588$80,861$80,152$79,460$78,785$77,194
2 years$40,390$39,638$38,909$38,202$37,516$35,921
3 years$26,659$25,904$25,177$24,476$23,802$22,251
4 years$19,795$19,042$18,322$17,634$16,976$15,482
5 years$15,678$14,929$14,219$13,545$12,905$11,472
6 years$12,934$12,191$11,491$10,832$10,211$8,841
7 years$10,975$10,238$9,549$8,905$8,304$6,997
8 years$9,506$8,776$8,098$7,470$6,889$5,644
9 years$8,364$7,641$6,975$6,363$5,802$4,618
10 years$7,451$6,735$6,081$5,485$4,943$3,821
11 years$6,705$5,996$5,354$4,774$4,251$3,188
12 years$6,083$5,382$4,751$4,187$3,684$2,678
13 years$5,558$4,863$4,245$3,697$3,213$2,263
14 years$5,108$4,421$3,814$3,281$2,816$1,920
15 years$4,718$4,038$3,444$2,926$2,480$1,636
16 years$4,377$3,705$3,122$2,620$2,192$1,398
17 years$4,077$3,412$2,841$2,354$1,943$1,198
18 years$3,810$3,153$2,593$2,122$1,728$1,028
19 years$3,572$2,922$2,374$1,917$1,540$885
20 years$3,358$2,715$2,179$1,736$1,376$763
21 years$3,164$2,529$2,004$1,576$1,231$658
22 years$2,989$2,361$1,847$1,433$1,103$568
23 years$2,829$2,208$1,706$1,305$990$492
24 years$2,682$2,069$1,577$1,190$890$425
25 years$2,547$1,942$1,461$1,087$801$369
26 years$2,423$1,825$1,355$994$722$319
27 years$2,308$1,717$1,258$910$651$277
28 years$2,202$1,618$1,170$833$587$240
29 years$2,103$1,527$1,088$764$530$209
30 years$2,011$1,442$1,014$701$479$181
31 years$1,925$1,363$945$644$433$157
32 years$1,845$1,290$882$592$392$137
33 years$1,769$1,221$823$544$354$119
34 years$1,699$1,158$769$501$321$103
35 years$1,632$1,098$719$461$291$90
36 years$1,569$1,042$673$425$263$78
37 years$1,510$990$630$391$239$68
38 years$1,454$941$590$361$216$59
39 years$1,401$894$553$333$196$51
40 years$1,351$851$518$307$178$45
41 years$1,303$810$486$283$161$39
42 years$1,258$771$456$261$147$34
43 years$1,215$735$427$241$133$29
44 years$1,174$701$401$223$121$26
45 years$1,135$668$377$206$110$22
46 years$1,098$637$354$190$100$19
47 years$1,062$608$332$175$90$17
48 years$1,028$581$312$162$82$15
49 years$996$554$294$150$75$13
50 years$965$530$276$138$68$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $988,000, adding $5,280 every year, while hoping to spend $41,943 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: 69/15/16 Blend
56$988,000$988,000$988,000$988,000
57$1,094,222$1,041,858$1,026,544$1,165,258
58$1,161,206$1,048,282$1,016,307$1,219,670
59$1,233,616$1,053,615$1,004,320$1,273,703
60$1,311,962$1,057,760$990,482$1,331,760
61$1,396,804$1,060,611$974,685$1,394,232
62$1,488,757$1,062,060$956,815$1,461,553
63$1,588,497$1,061,988$936,756$1,534,197
64$1,696,769$1,060,271$914,383$1,612,692
65$1,814,392$1,056,777$889,567$1,697,617
66$1,942,266$1,051,365$862,173$1,789,614
67$2,081,381$1,043,886$832,060$1,889,388
68$2,232,828$1,034,182$799,080$1,997,719
69$2,397,805$1,022,086$763,078$2,115,467
70$2,577,633$1,007,420$723,893$2,243,581
71$2,773,764$989,996$681,355$2,383,109
72$2,987,796$969,614$635,289$2,535,205
73$3,221,489$946,063$585,509$2,701,144
74$3,476,781$919,120$531,824$2,882,331
75$3,755,804$888,547$474,031$3,080,319
76$4,060,905$854,095$411,920$3,296,818
77$4,394,669$815,498$345,271$3,533,716
78$4,759,944$772,476$273,856$3,793,095
79$5,159,862$724,732$197,435$4,077,253
80$5,597,876$671,952$115,757$4,388,722
81$6,077,787$613,804$28,562$4,730,300
82$6,603,779$549,938$0$5,105,067
83$7,180,463$479,984$0$5,527,434
84$7,812,917$403,550$0$5,996,061
85$8,506,732$320,222$0$6,510,254
86$9,268,069$229,563$0$7,074,627
87$10,103,713$131,112$0$7,694,267
88$11,021,136$24,381$0$8,374,779
89$12,028,572$0$0$9,122,342
90$13,135,090$0$0$9,958,811
91$14,350,681$0$0$10,882,212
92$15,686,349$0$0$11,896,891
93$17,154,221$0$0$13,012,064
94$18,767,653$0$0$14,237,888
95$20,541,362$0$0$15,585,552
96$22,491,561$0$0$17,067,383
97$24,636,112$0$0$18,696,962
98$26,994,694$0$0$20,489,252
99$29,588,992$0$0$22,460,740
100$32,442,895$0$0$24,629,589