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%19.6%
1 years$82,084$81,352$80,639$79,943$79,263$76,208
2 years$40,635$39,879$39,145$38,434$37,744$34,703
3 years$26,821$26,061$25,330$24,625$23,947$21,015
4 years$19,915$19,158$18,433$17,741$17,079$14,279
5 years$15,773$15,020$14,305$13,627$12,983$10,322
6 years$13,012$12,265$11,561$10,897$10,273$7,752
7 years$11,041$10,300$9,607$8,959$8,355$5,974
8 years$9,564$8,829$8,147$7,516$6,931$4,688
9 years$8,415$7,687$7,017$6,402$5,837$3,728
10 years$7,496$6,776$6,118$5,518$4,973$2,994
11 years$6,745$6,032$5,386$4,803$4,277$2,424
12 years$6,120$5,414$4,780$4,213$3,707$1,974
13 years$5,591$4,893$4,271$3,719$3,232$1,616
14 years$5,139$4,447$3,837$3,301$2,833$1,327
15 years$4,747$4,063$3,464$2,944$2,495$1,094
16 years$4,404$3,728$3,141$2,636$2,205$904
17 years$4,102$3,433$2,858$2,369$1,955$748
18 years$3,833$3,172$2,609$2,135$1,738$621
19 years$3,594$2,940$2,389$1,929$1,549$515
20 years$3,378$2,732$2,192$1,747$1,384$428
21 years$3,184$2,545$2,016$1,585$1,238$357
22 years$3,007$2,375$1,858$1,442$1,110$297
23 years$2,846$2,222$1,716$1,313$996$248
24 years$2,698$2,082$1,587$1,197$896$206
25 years$2,563$1,953$1,470$1,094$806$172
26 years$2,438$1,836$1,363$1,000$726$144
27 years$2,322$1,728$1,266$915$655$120
28 years$2,215$1,628$1,177$839$591$100
29 years$2,116$1,536$1,095$769$533$84
30 years$2,023$1,451$1,020$706$482$70
31 years$1,937$1,371$951$648$436$58
32 years$1,856$1,297$887$596$394$49
33 years$1,780$1,229$828$548$357$41
34 years$1,709$1,165$774$504$323$34
35 years$1,642$1,105$724$464$292$28
36 years$1,579$1,048$677$427$265$24
37 years$1,519$996$634$394$240$20
38 years$1,463$946$593$363$218$17
39 years$1,409$900$556$335$197$14
40 years$1,359$856$521$309$179$12
41 years$1,311$815$489$285$162$10
42 years$1,266$776$458$263$147$8
43 years$1,222$739$430$243$134$7
44 years$1,181$705$404$224$121$6
45 years$1,142$672$379$207$110$5
46 years$1,104$641$356$191$100$4
47 years$1,069$612$334$177$91$3
48 years$1,034$584$314$163$83$3
49 years$1,002$558$295$151$75$2
50 years$970$533$278$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $994,000, adding $2,372 every year, while hoping to spend $40,830 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: 38/33/29 Blend
56$994,000$994,000$994,000$994,000
57$1,097,835$1,045,153$1,029,746$1,130,002
58$1,166,371$1,052,922$1,020,799$1,161,677
59$1,240,530$1,059,704$1,010,185$1,191,986
60$1,320,841$1,065,407$997,803$1,223,972
61$1,407,888$1,069,933$983,551$1,257,813
62$1,502,312$1,073,179$967,319$1,293,710
63$1,604,818$1,075,035$948,994$1,331,886
64$1,716,181$1,075,384$928,458$1,372,589
65$1,837,255$1,074,101$905,585$1,416,097
66$1,968,979$1,071,056$880,246$1,462,719
67$2,112,384$1,066,107$852,304$1,512,797
68$2,268,608$1,059,107$821,616$1,566,714
69$2,438,901$1,049,898$788,035$1,624,894
70$2,624,639$1,038,313$751,404$1,687,808
71$2,827,336$1,024,175$711,561$1,755,982
72$3,048,661$1,007,296$668,334$1,829,998
73$3,290,448$987,477$621,547$1,910,502
74$3,554,719$964,508$571,014$1,998,212
75$3,843,697$938,166$516,540$2,093,924
76$4,159,833$908,215$457,923$2,198,523
77$4,505,823$874,405$394,950$2,312,986
78$4,884,637$836,471$327,401$2,438,401
79$5,299,546$794,134$255,045$2,575,970
80$5,754,150$747,097$177,640$2,727,028
81$6,252,417$695,048$94,934$2,893,052
82$6,798,715$637,657$6,666$3,075,677
83$7,397,854$574,572$0$3,276,716
84$8,055,134$505,425$0$3,525,258
85$8,776,391$429,825$0$3,800,401
86$9,568,056$347,358$0$4,102,628
87$10,437,209$257,590$0$4,434,753
88$11,391,651$160,060$0$4,799,882
89$12,439,977$54,280$0$5,201,446
90$13,591,653$0$0$5,643,229
91$14,857,109$0$0$6,151,295
92$16,247,832$0$0$6,731,461
93$17,776,481$0$0$7,369,315
94$19,457,001$0$0$8,070,694
95$21,304,754$0$0$8,842,030
96$23,336,667$0$0$9,690,408
97$25,571,388$0$0$10,623,635
98$28,029,464$0$0$11,650,313
99$30,733,532$0$0$12,779,918
100$33,708,534$0$0$14,022,893