Can I retire at age 57 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$81,671$80,943$80,233$79,541$78,864$76,709
2 years$40,431$39,678$38,948$38,241$37,554$35,399
3 years$26,686$25,930$25,202$24,501$23,826$21,737
4 years$19,815$19,061$18,341$17,652$16,993$14,987
5 years$15,694$14,944$14,233$13,558$12,918$11,001
6 years$12,947$12,203$11,502$10,843$10,221$8,395
7 years$10,986$10,248$9,559$8,914$8,313$6,577
8 years$9,515$8,785$8,106$7,478$6,896$5,250
9 years$8,373$7,649$6,982$6,370$5,808$4,250
10 years$7,459$6,742$6,087$5,491$4,948$3,476
11 years$6,712$6,002$5,359$4,779$4,256$2,868
12 years$6,089$5,387$4,756$4,191$3,688$2,381
13 years$5,563$4,868$4,249$3,700$3,216$1,987
14 years$5,113$4,425$3,818$3,285$2,819$1,666
15 years$4,723$4,042$3,447$2,929$2,482$1,401
16 years$4,382$3,709$3,125$2,623$2,194$1,182
17 years$4,081$3,416$2,844$2,357$1,945$1,000
18 years$3,814$3,156$2,596$2,124$1,730$847
19 years$3,576$2,925$2,377$1,919$1,542$719
20 years$3,361$2,718$2,181$1,738$1,377$611
21 years$3,168$2,532$2,006$1,577$1,232$520
22 years$2,992$2,363$1,849$1,434$1,104$443
23 years$2,831$2,210$1,707$1,306$991$378
24 years$2,685$2,071$1,579$1,191$891$323
25 years$2,550$1,944$1,462$1,088$802$275
26 years$2,426$1,827$1,356$995$722$235
27 years$2,311$1,719$1,259$911$651$201
28 years$2,204$1,620$1,171$834$588$172
29 years$2,105$1,528$1,090$765$531$147
30 years$2,013$1,443$1,015$702$479$126
31 years$1,927$1,364$946$645$433$108
32 years$1,847$1,291$883$593$392$92
33 years$1,771$1,223$824$545$355$79
34 years$1,700$1,159$770$501$321$68
35 years$1,634$1,099$720$462$291$58
36 years$1,571$1,043$674$425$264$50
37 years$1,511$991$630$392$239$42
38 years$1,455$942$590$361$217$36
39 years$1,402$895$553$333$196$31
40 years$1,352$852$518$307$178$27
41 years$1,304$811$486$283$162$23
42 years$1,259$772$456$261$147$20
43 years$1,216$736$428$241$133$17
44 years$1,175$701$402$223$121$14
45 years$1,136$669$377$206$110$12
46 years$1,099$638$354$190$100$11
47 years$1,063$609$333$176$90$9
48 years$1,029$581$313$162$82$8
49 years$997$555$294$150$75$7
50 years$966$530$276$139$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $989,000, adding $3,395 every year, while hoping to spend $55,055 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: 75/20/5 Blend
56$989,000$989,000$989,000$989,000
57$1,093,380$1,040,963$1,025,633$1,174,764
58$1,146,327$1,033,392$1,001,414$1,221,146
59$1,202,829$1,023,605$974,538$1,264,565
60$1,263,190$1,011,435$944,859$1,310,535
61$1,327,746$996,705$912,221$1,359,286
62$1,396,861$979,229$876,466$1,411,073
63$1,470,937$958,807$837,423$1,466,179
64$1,550,414$935,230$794,918$1,524,913
65$1,635,775$908,275$748,767$1,587,619
66$1,727,550$877,706$698,777$1,654,677
67$1,826,321$843,275$644,747$1,726,503
68$1,932,728$804,718$586,468$1,803,562
69$2,047,472$761,755$523,720$1,886,363
70$2,171,324$714,091$456,275$1,975,471
71$2,305,132$661,415$383,894$2,071,507
72$2,449,828$603,396$306,326$2,175,160
73$2,606,433$539,685$223,311$2,287,189
74$2,776,074$469,915$134,577$2,408,432
75$2,959,988$393,695$39,839$2,539,817
76$3,159,535$310,614$0$2,682,366
77$3,376,211$220,237$0$2,840,477
78$3,611,661$122,106$0$3,014,610
79$3,867,696$15,735$0$3,204,031
80$4,146,308$0$0$3,410,279
81$4,449,688$0$0$3,656,926
82$4,780,246$0$0$3,929,479
83$5,140,637$0$0$4,226,669
84$5,533,782$0$0$4,550,908
85$5,962,894$0$0$4,904,852
86$6,431,513$0$0$5,291,426
87$6,943,534$0$0$5,713,848
88$7,503,245$0$0$6,175,663
89$8,115,369$0$0$6,680,770
90$8,785,102$0$0$7,233,468
91$9,518,170$0$0$7,838,485
92$10,320,877$0$0$8,501,031
93$11,200,163$0$0$9,226,842
94$12,163,672$0$0$10,022,235
95$13,219,824$0$0$10,894,166
96$14,377,890$0$0$11,850,299
97$15,648,083$0$0$12,899,073
98$17,041,650$0$0$14,049,784
99$18,570,982$0$0$15,312,669
100$20,249,724$0$0$16,699,008