Can I retire at age 57 with 992,000?

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 $992,000?

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$81,918$81,189$80,477$79,782$79,103$76,942
2 years$40,554$39,798$39,066$38,357$37,668$35,506
3 years$26,767$26,009$25,279$24,576$23,898$21,803
4 years$19,875$19,119$18,396$17,705$17,044$15,033
5 years$15,741$14,990$14,276$13,599$12,957$11,034
6 years$12,986$12,240$11,537$10,876$10,252$8,420
7 years$11,019$10,279$9,588$8,941$8,338$6,597
8 years$9,544$8,811$8,131$7,501$6,917$5,266
9 years$8,398$7,672$7,003$6,389$5,825$4,262
10 years$7,481$6,762$6,106$5,507$4,963$3,487
11 years$6,732$6,020$5,375$4,793$4,269$2,876
12 years$6,108$5,403$4,770$4,204$3,699$2,388
13 years$5,580$4,883$4,262$3,712$3,226$1,993
14 years$5,128$4,439$3,829$3,295$2,828$1,671
15 years$4,737$4,055$3,458$2,938$2,490$1,406
16 years$4,395$3,720$3,135$2,631$2,200$1,186
17 years$4,093$3,426$2,852$2,364$1,951$1,003
18 years$3,826$3,166$2,604$2,130$1,735$850
19 years$3,587$2,934$2,384$1,925$1,546$722
20 years$3,371$2,726$2,188$1,743$1,381$613
21 years$3,177$2,540$2,012$1,582$1,236$522
22 years$3,001$2,371$1,855$1,439$1,108$445
23 years$2,840$2,217$1,712$1,310$994$379
24 years$2,693$2,077$1,584$1,195$894$324
25 years$2,558$1,950$1,467$1,091$804$276
26 years$2,433$1,832$1,360$998$725$236
27 years$2,318$1,724$1,263$913$653$202
28 years$2,211$1,625$1,174$837$589$172
29 years$2,112$1,533$1,093$767$532$147
30 years$2,019$1,448$1,018$704$481$126
31 years$1,933$1,368$949$647$435$108
32 years$1,852$1,295$885$594$393$92
33 years$1,777$1,226$827$547$356$79
34 years$1,705$1,162$772$503$322$68
35 years$1,639$1,102$722$463$292$58
36 years$1,576$1,046$676$426$264$50
37 years$1,516$994$632$393$240$43
38 years$1,460$944$592$362$217$36
39 years$1,407$898$555$334$197$31
40 years$1,356$854$520$308$179$27
41 years$1,308$813$488$284$162$23
42 years$1,263$775$457$262$147$20
43 years$1,220$738$429$242$134$17
44 years$1,179$703$403$224$121$14
45 years$1,139$671$378$206$110$12
46 years$1,102$640$355$191$100$11
47 years$1,066$611$334$176$91$9
48 years$1,032$583$314$163$82$8
49 years$1,000$557$295$150$75$7
50 years$969$532$277$139$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $992,000, adding $4,420 every year, while hoping to spend $36,454 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: 81/9/10 Blend
56$992,000$992,000$992,000$992,000
57$1,097,743$1,045,167$1,029,791$1,184,559
58$1,170,926$1,057,594$1,025,502$1,254,531
59$1,250,352$1,069,407$1,019,848$1,326,069
60$1,336,619$1,080,539$1,012,744$1,403,504
61$1,430,386$1,090,917$1,004,102$1,487,406
62$1,532,375$1,100,462$993,830$1,578,404
63$1,643,385$1,109,092$981,831$1,677,193
64$1,764,290$1,116,718$968,002$1,784,536
65$1,896,057$1,123,246$952,239$1,901,273
66$2,039,745$1,128,576$934,430$2,028,332
67$2,196,524$1,132,601$914,458$2,166,734
68$2,367,679$1,135,208$892,202$2,317,602
69$2,554,626$1,136,277$867,535$2,482,177
70$2,758,923$1,135,679$840,322$2,661,823
71$2,982,286$1,133,280$810,426$2,858,045
72$3,226,603$1,128,935$777,699$3,072,500
73$3,493,954$1,122,490$741,990$3,307,015
74$3,786,630$1,113,785$703,139$3,563,601
75$4,107,152$1,102,646$660,979$3,844,478
76$4,458,297$1,088,891$615,338$4,152,089
77$4,843,124$1,072,327$566,032$4,489,126
78$5,265,000$1,052,749$512,872$4,858,558
79$5,727,636$1,029,940$455,659$5,263,655
80$6,235,118$1,003,670$394,186$5,708,022
81$6,791,945$973,695$328,237$6,195,630
82$7,403,076$939,758$257,585$6,730,857
83$8,073,970$901,586$181,994$7,318,527
84$8,810,642$858,891$101,218$7,963,956
85$9,619,718$811,368$15,000$8,673,003
86$10,508,497$758,693$0$9,452,126
87$11,485,021$700,525$0$10,316,659
88$12,558,146$636,504$0$11,268,469
89$13,737,632$566,248$0$12,314,629
90$15,034,230$489,354$0$13,464,697
91$16,459,785$405,395$0$14,729,207
92$18,027,346$313,923$0$16,119,763
93$19,751,292$214,462$0$17,649,156
94$21,647,463$106,509$0$19,331,477
95$23,733,311$0$0$21,182,256
96$26,028,067$0$0$23,219,639
97$28,552,918$0$0$25,472,945
98$31,331,208$0$0$27,952,463
99$34,388,660$0$0$30,681,151
100$37,753,614$0$0$33,684,309