Can I retire at age 57 with 989,000?

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 $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%12%
1 years$81,671$80,943$80,233$79,541$78,864$78,203
2 years$40,431$39,678$38,948$38,241$37,554$36,888
3 years$26,686$25,930$25,202$24,501$23,826$23,176
4 years$19,815$19,061$18,341$17,652$16,993$16,363
5 years$15,694$14,944$14,233$13,558$12,918$12,310
6 years$12,947$12,203$11,502$10,843$10,221$9,637
7 years$10,986$10,248$9,559$8,914$8,313$7,751
8 years$9,515$8,785$8,106$7,478$6,896$6,358
9 years$8,373$7,649$6,982$6,370$5,808$5,293
10 years$7,459$6,742$6,087$5,491$4,948$4,456
11 years$6,712$6,002$5,359$4,779$4,256$3,786
12 years$6,089$5,387$4,756$4,191$3,688$3,241
13 years$5,563$4,868$4,249$3,700$3,216$2,790
14 years$5,113$4,425$3,818$3,285$2,819$2,414
15 years$4,723$4,042$3,447$2,929$2,482$2,098
16 years$4,382$3,709$3,125$2,623$2,194$1,829
17 years$4,081$3,416$2,844$2,357$1,945$1,600
18 years$3,814$3,156$2,596$2,124$1,730$1,403
19 years$3,576$2,925$2,377$1,919$1,542$1,233
20 years$3,361$2,718$2,181$1,738$1,377$1,085
21 years$3,168$2,532$2,006$1,577$1,232$957
22 years$2,992$2,363$1,849$1,434$1,104$845
23 years$2,831$2,210$1,707$1,306$991$748
24 years$2,685$2,071$1,579$1,191$891$662
25 years$2,550$1,944$1,462$1,088$802$587
26 years$2,426$1,827$1,356$995$722$520
27 years$2,311$1,719$1,259$911$651$462
28 years$2,204$1,620$1,171$834$588$410
29 years$2,105$1,528$1,090$765$531$364
30 years$2,013$1,443$1,015$702$479$324
31 years$1,927$1,364$946$645$433$288
32 years$1,847$1,291$883$593$392$257
33 years$1,771$1,223$824$545$355$228
34 years$1,700$1,159$770$501$321$203
35 years$1,634$1,099$720$462$291$181
36 years$1,571$1,043$674$425$264$161
37 years$1,511$991$630$392$239$144
38 years$1,455$942$590$361$217$128
39 years$1,402$895$553$333$196$114
40 years$1,352$852$518$307$178$102
41 years$1,304$811$486$283$162$91
42 years$1,259$772$456$261$147$81
43 years$1,216$736$428$241$133$72
44 years$1,175$701$402$223$121$65
45 years$1,136$669$377$206$110$58
46 years$1,099$638$354$190$100$51
47 years$1,063$609$333$176$90$46
48 years$1,029$581$313$162$82$41
49 years$997$555$294$150$75$37
50 years$966$530$276$139$68$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $989,000, adding $6,286 every year, while hoping to spend $51,520 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: 55/17/28 Blend
56$989,000$989,000$989,000$989,000
57$1,096,362$1,043,945$1,028,616$1,147,854
58$1,153,374$1,040,281$1,008,257$1,180,389
59$1,214,475$1,034,712$985,490$1,209,968
60$1,280,026$1,027,088$960,179$1,241,146
61$1,350,427$1,017,253$932,183$1,274,096
62$1,426,113$1,005,041$901,355$1,309,011
63$1,507,565$990,277$867,538$1,346,104
64$1,595,309$972,772$830,572$1,385,616
65$1,689,922$952,330$790,288$1,427,811
66$1,792,040$928,740$746,510$1,472,988
67$1,902,362$901,782$699,051$1,521,477
68$2,021,654$871,220$647,720$1,573,643
69$2,150,759$836,806$592,315$1,629,898
70$2,290,603$798,277$532,625$1,690,693
71$2,442,207$755,355$468,430$1,756,534
72$2,606,690$707,745$399,500$1,827,980
73$2,785,285$655,137$325,596$1,905,655
74$2,979,347$597,201$246,466$1,990,249
75$3,190,367$533,591$161,849$2,082,527
76$3,419,985$463,938$71,472$2,183,341
77$3,670,007$387,854$0$2,293,631
78$3,942,419$304,930$0$2,421,905
79$4,239,405$214,731$0$2,585,132
80$4,563,373$116,801$0$2,763,310
81$4,916,968$10,656$0$2,957,959
82$5,303,107$0$0$3,170,754
83$5,724,997$0$0$3,423,036
84$6,186,171$0$0$3,701,076
85$6,690,516$0$0$4,005,237
86$7,242,316$0$0$4,338,111
87$7,846,284$0$0$4,702,556
88$8,507,613$0$0$5,101,715
89$9,232,019$0$0$5,539,053
90$10,025,798$0$0$6,018,383
91$10,895,884$0$0$6,543,908
92$11,849,913$0$0$7,120,252
93$12,896,297$0$0$7,752,513
94$14,044,300$0$0$8,446,304
95$15,304,125$0$0$9,207,806
96$16,687,013$0$0$10,043,832
97$18,205,343$0$0$10,961,882
98$19,872,756$0$0$11,970,221
99$21,704,274$0$0$13,077,952
100$23,716,449$0$0$14,295,106