Can I retire at age 57 with 994,000?

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 $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%13.6%
1 years$82,084$81,352$80,639$79,943$79,263$78,078
2 years$40,635$39,879$39,145$38,434$37,744$36,554
3 years$26,821$26,061$25,330$24,625$23,947$22,787
4 years$19,915$19,158$18,433$17,741$17,079$15,959
5 years$15,773$15,020$14,305$13,627$12,983$11,906
6 years$13,012$12,265$11,561$10,897$10,273$9,240
7 years$11,041$10,300$9,607$8,959$8,355$7,367
8 years$9,564$8,829$8,147$7,516$6,931$5,987
9 years$8,415$7,687$7,017$6,402$5,837$4,937
10 years$7,496$6,776$6,118$5,518$4,973$4,117
11 years$6,745$6,032$5,386$4,803$4,277$3,463
12 years$6,120$5,414$4,780$4,213$3,707$2,934
13 years$5,591$4,893$4,271$3,719$3,232$2,500
14 years$5,139$4,447$3,837$3,301$2,833$2,141
15 years$4,747$4,063$3,464$2,944$2,495$1,840
16 years$4,404$3,728$3,141$2,636$2,205$1,587
17 years$4,102$3,433$2,858$2,369$1,955$1,372
18 years$3,833$3,172$2,609$2,135$1,738$1,190
19 years$3,594$2,940$2,389$1,929$1,549$1,033
20 years$3,378$2,732$2,192$1,747$1,384$899
21 years$3,184$2,545$2,016$1,585$1,238$784
22 years$3,007$2,375$1,858$1,442$1,110$684
23 years$2,846$2,222$1,716$1,313$996$597
24 years$2,698$2,082$1,587$1,197$896$522
25 years$2,563$1,953$1,470$1,094$806$457
26 years$2,438$1,836$1,363$1,000$726$400
27 years$2,322$1,728$1,266$915$655$351
28 years$2,215$1,628$1,177$839$591$308
29 years$2,116$1,536$1,095$769$533$270
30 years$2,023$1,451$1,020$706$482$237
31 years$1,937$1,371$951$648$436$208
32 years$1,856$1,297$887$596$394$183
33 years$1,780$1,229$828$548$357$160
34 years$1,709$1,165$774$504$323$141
35 years$1,642$1,105$724$464$292$124
36 years$1,579$1,048$677$427$265$109
37 years$1,519$996$634$394$240$96
38 years$1,463$946$593$363$218$84
39 years$1,409$900$556$335$197$74
40 years$1,359$856$521$309$179$65
41 years$1,311$815$489$285$162$57
42 years$1,266$776$458$263$147$50
43 years$1,222$739$430$243$134$44
44 years$1,181$705$404$224$121$39
45 years$1,142$672$379$207$110$34
46 years$1,104$641$356$191$100$30
47 years$1,069$612$334$177$91$27
48 years$1,034$584$314$163$83$23
49 years$1,002$558$295$151$75$21
50 years$970$533$278$139$68$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $994,000, adding $3,525 every year, while hoping to spend $47,254 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: 78/9/13 Blend
56$994,000$994,000$994,000$994,000
57$1,099,024$1,046,342$1,030,935$1,181,652
58$1,160,847$1,047,335$1,015,193$1,237,533
59$1,227,391$1,046,793$997,341$1,292,423
60$1,299,090$1,044,590$977,256$1,351,290
61$1,376,417$1,040,595$954,814$1,414,513
62$1,459,893$1,034,665$929,882$1,482,510
63$1,550,090$1,026,652$902,321$1,555,739
64$1,647,638$1,016,397$871,988$1,634,707
65$1,753,229$1,003,732$838,731$1,719,973
66$1,867,622$988,479$802,392$1,812,152
67$1,991,653$970,448$762,806$1,911,923
68$2,126,242$949,440$719,801$2,020,034
69$2,272,400$925,244$673,195$2,137,309
70$2,431,237$897,634$622,800$2,264,659
71$2,603,979$866,373$568,418$2,403,086
72$2,791,969$831,210$509,845$2,553,695
73$2,996,690$791,879$446,865$2,717,706
74$3,219,771$748,099$379,253$2,896,463
75$3,463,004$699,573$306,775$3,091,447
76$3,728,364$645,986$229,186$3,304,293
77$4,018,023$587,005$146,229$3,536,803
78$4,334,372$522,279$57,638$3,790,963
79$4,680,044$451,436$0$4,068,963
80$5,057,936$374,085$0$4,378,338
81$5,471,241$289,810$0$4,725,498
82$5,923,470$198,173$0$5,105,416
83$6,418,493$98,712$0$5,521,374
84$6,960,569$0$0$5,976,988
85$7,554,390$0$0$6,477,138
86$8,205,121$0$0$7,035,967
87$8,918,453$0$0$7,648,589
88$9,700,652$0$0$8,320,389
89$10,558,619$0$0$9,057,299
90$11,499,957$0$0$9,865,854
91$12,533,038$0$0$10,753,249
92$13,667,087$0$0$11,727,413
93$14,912,262$0$0$12,797,077
94$16,279,756$0$0$13,971,862
95$17,781,897$0$0$15,262,363
96$19,432,267$0$0$16,680,254
97$21,245,829$0$0$18,238,396
98$23,239,064$0$0$19,950,956
99$25,430,134$0$0$21,833,543
100$27,839,045$0$0$23,903,354