Can I retire at age 57 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$82,084$81,352$80,639$79,943$79,263$77,854
2 years$40,635$39,879$39,145$38,434$37,744$36,329
3 years$26,821$26,061$25,330$24,625$23,947$22,570
4 years$19,915$19,158$18,433$17,741$17,079$15,751
5 years$15,773$15,020$14,305$13,627$12,983$11,708
6 years$13,012$12,265$11,561$10,897$10,273$9,052
7 years$11,041$10,300$9,607$8,959$8,355$7,189
8 years$9,564$8,829$8,147$7,516$6,931$5,819
9 years$8,415$7,687$7,017$6,402$5,837$4,779
10 years$7,496$6,776$6,118$5,518$4,973$3,968
11 years$6,745$6,032$5,386$4,803$4,277$3,323
12 years$6,120$5,414$4,780$4,213$3,707$2,803
13 years$5,591$4,893$4,271$3,719$3,232$2,377
14 years$5,139$4,447$3,837$3,301$2,833$2,026
15 years$4,747$4,063$3,464$2,944$2,495$1,733
16 years$4,404$3,728$3,141$2,636$2,205$1,487
17 years$4,102$3,433$2,858$2,369$1,955$1,280
18 years$3,833$3,172$2,609$2,135$1,738$1,104
19 years$3,594$2,940$2,389$1,929$1,549$954
20 years$3,378$2,732$2,192$1,747$1,384$826
21 years$3,184$2,545$2,016$1,585$1,238$716
22 years$3,007$2,375$1,858$1,442$1,110$621
23 years$2,846$2,222$1,716$1,313$996$540
24 years$2,698$2,082$1,587$1,197$896$469
25 years$2,563$1,953$1,470$1,094$806$408
26 years$2,438$1,836$1,363$1,000$726$356
27 years$2,322$1,728$1,266$915$655$310
28 years$2,215$1,628$1,177$839$591$270
29 years$2,116$1,536$1,095$769$533$236
30 years$2,023$1,451$1,020$706$482$206
31 years$1,937$1,371$951$648$436$180
32 years$1,856$1,297$887$596$394$157
33 years$1,780$1,229$828$548$357$137
34 years$1,709$1,165$774$504$323$120
35 years$1,642$1,105$724$464$292$104
36 years$1,579$1,048$677$427$265$91
37 years$1,519$996$634$394$240$80
38 years$1,463$946$593$363$218$70
39 years$1,409$900$556$335$197$61
40 years$1,359$856$521$309$179$53
41 years$1,311$815$489$285$162$47
42 years$1,266$776$458$263$147$41
43 years$1,222$739$430$243$134$36
44 years$1,181$705$404$224$121$31
45 years$1,142$672$379$207$110$27
46 years$1,104$641$356$191$100$24
47 years$1,069$612$334$177$91$21
48 years$1,034$584$314$163$83$18
49 years$1,002$558$295$151$75$16
50 years$970$533$278$139$68$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $994,000, adding $6,981 every year, while hoping to spend $39,824 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: 47/33/20 Blend
56$994,000$994,000$994,000$994,000
57$1,102,589$1,049,907$1,034,500$1,147,842
58$1,172,681$1,058,980$1,026,783$1,189,202
59$1,248,587$1,067,163$1,017,473$1,229,519
60$1,330,859$1,074,370$1,006,475$1,272,450
61$1,420,102$1,080,510$993,688$1,318,256
62$1,516,984$1,085,486$979,007$1,367,227
63$1,622,236$1,089,195$962,324$1,419,683
64$1,736,666$1,091,527$943,523$1,475,983
65$1,861,159$1,092,365$922,485$1,536,518
66$1,996,693$1,091,586$899,083$1,601,727
67$2,144,340$1,089,059$873,187$1,672,093
68$2,305,283$1,084,643$844,659$1,748,152
69$2,480,822$1,078,191$813,356$1,830,495
70$2,672,389$1,069,545$779,126$1,919,780
71$2,881,559$1,058,539$741,813$2,016,732
72$3,110,066$1,044,996$701,252$2,122,155
73$3,359,821$1,028,729$657,273$2,236,937
74$3,632,926$1,009,540$609,694$2,362,062
75$3,931,695$987,218$558,330$2,498,617
76$4,258,677$961,541$502,983$2,647,806
77$4,616,679$932,273$443,449$2,810,957
78$5,008,791$899,165$379,515$2,989,542
79$5,438,416$861,952$310,958$3,185,185
80$5,909,303$820,357$237,544$3,399,684
81$6,425,580$774,082$159,029$3,635,023
82$6,991,793$722,816$75,161$3,893,398
83$7,612,951$666,229$0$4,177,234
84$8,294,568$603,970$0$4,492,268
85$9,042,721$535,671$0$4,855,717
86$9,864,101$460,942$0$5,254,855
87$10,766,082$379,371$0$5,693,357
88$11,756,784$290,522$0$6,175,279
89$12,845,153$193,934$0$6,705,093
90$14,041,044$89,123$0$7,287,736
91$15,355,316$0$0$7,928,654
92$16,799,929$0$0$8,642,723
93$18,388,062$0$0$9,463,433
94$20,134,232$0$0$10,365,940
95$22,054,435$0$0$11,358,524
96$24,166,293$0$0$12,450,313
97$26,489,224$0$0$13,651,361
98$29,044,620$0$0$14,972,746
99$31,856,051$0$0$16,426,674
100$34,949,488$0$0$18,026,594