Can I retire at age 57 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$82,001$81,271$80,558$79,862$79,183$77,616
2 years$40,595$39,839$39,106$38,395$37,706$36,134
3 years$26,794$26,035$25,304$24,600$23,922$22,394
4 years$19,895$19,138$18,415$17,723$17,062$15,589
5 years$15,757$15,005$14,291$13,613$12,970$11,557
6 years$12,999$12,253$11,549$10,886$10,263$8,912
7 years$11,030$10,290$9,597$8,950$8,346$7,057
8 years$9,554$8,820$8,139$7,508$6,924$5,696
9 years$8,406$7,680$7,010$6,395$5,831$4,664
10 years$7,489$6,769$6,112$5,513$4,968$3,860
11 years$6,739$6,026$5,381$4,798$4,273$3,223
12 years$6,114$5,409$4,775$4,208$3,703$2,709
13 years$5,586$4,888$4,266$3,715$3,229$2,291
14 years$5,133$4,443$3,833$3,298$2,831$1,945
15 years$4,742$4,059$3,461$2,941$2,492$1,658
16 years$4,399$3,724$3,138$2,634$2,203$1,418
17 years$4,098$3,429$2,855$2,366$1,953$1,216
18 years$3,830$3,169$2,607$2,132$1,737$1,045
19 years$3,590$2,937$2,386$1,927$1,548$900
20 years$3,375$2,729$2,190$1,745$1,383$776
21 years$3,180$2,542$2,014$1,584$1,237$670
22 years$3,004$2,373$1,857$1,440$1,109$579
23 years$2,843$2,219$1,714$1,312$995$501
24 years$2,695$2,079$1,585$1,196$895$434
25 years$2,560$1,951$1,468$1,092$805$376
26 years$2,435$1,834$1,362$999$725$327
27 years$2,320$1,726$1,265$914$654$283
28 years$2,213$1,626$1,176$838$590$246
29 years$2,114$1,534$1,094$768$533$214
30 years$2,021$1,449$1,019$705$481$186
31 years$1,935$1,370$950$647$435$161
32 years$1,854$1,296$886$595$394$140
33 years$1,778$1,227$828$547$356$122
34 years$1,707$1,163$773$503$323$106
35 years$1,640$1,103$723$463$292$92
36 years$1,577$1,047$676$427$265$80
37 years$1,518$995$633$393$240$70
38 years$1,461$945$593$362$218$61
39 years$1,408$899$555$334$197$53
40 years$1,358$855$521$308$179$46
41 years$1,310$814$488$284$162$40
42 years$1,264$775$458$262$147$35
43 years$1,221$739$430$242$134$30
44 years$1,180$704$403$224$121$27
45 years$1,141$671$379$207$110$23
46 years$1,103$641$356$191$100$20
47 years$1,067$611$334$176$91$18
48 years$1,033$584$314$163$82$15
49 years$1,001$557$295$151$75$13
50 years$970$532$277$139$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $993,000, adding $6,607 every year, while hoping to spend $39,240 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: 51/38/11 Blend
56$993,000$993,000$993,000$993,000
57$1,101,101$1,048,472$1,033,081$1,153,722
58$1,171,662$1,058,096$1,025,938$1,200,013
59$1,248,106$1,066,877$1,017,240$1,245,585
60$1,330,990$1,074,731$1,006,895$1,294,223
61$1,420,929$1,081,571$994,804$1,346,226
62$1,518,598$1,087,302$980,865$1,401,925
63$1,624,740$1,091,825$964,969$1,461,686
64$1,740,174$1,095,035$947,005$1,525,913
65$1,865,797$1,096,817$926,856$1,595,054
66$2,002,600$1,097,053$904,397$1,669,602
67$2,151,672$1,095,615$879,501$1,750,105
68$2,314,210$1,092,367$852,031$1,837,166
69$2,491,533$1,087,167$821,849$1,931,455
70$2,685,094$1,079,863$788,805$2,033,709
71$2,896,490$1,070,292$752,746$2,144,745
72$3,127,479$1,058,285$713,511$2,265,465
73$3,380,000$1,043,658$670,931$2,396,867
74$3,656,184$1,026,221$624,831$2,540,052
75$3,958,378$1,005,769$575,026$2,696,237
76$4,289,167$982,087$521,325$2,866,767
77$4,651,399$954,946$463,526$3,053,130
78$5,048,208$924,105$401,420$3,256,966
79$5,483,046$889,306$334,788$3,480,089
80$5,959,714$850,280$263,402$3,724,502
81$6,482,401$806,740$187,022$3,992,416
82$7,055,718$758,382$105,399$4,286,276
83$7,684,745$704,887$18,273$4,608,778
84$8,375,077$645,914$0$4,962,902
85$9,132,877$581,106$0$5,360,704
86$9,964,935$510,085$0$5,799,906
87$10,878,728$432,448$0$6,282,406
88$11,882,495$347,775$0$6,812,663
89$12,985,312$255,619$0$7,395,602
90$14,197,176$155,506$0$8,036,652
91$15,529,103$46,941$0$8,741,805
92$16,993,226$0$0$9,517,671
93$18,602,914$0$0$10,401,067
94$20,372,897$0$0$11,394,127
95$22,319,401$0$0$12,486,342
96$24,460,305$0$0$13,687,758
97$26,815,308$0$0$15,009,445
98$29,406,113$0$0$16,463,598
99$32,256,633$0$0$18,063,656
100$35,393,215$0$0$19,824,423