Can I retire at age 57 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$82,331$81,598$80,882$80,184$79,502$79,134
2 years$40,758$39,999$39,263$38,550$37,858$37,486
3 years$26,902$26,140$25,406$24,699$24,019$23,655
4 years$19,976$19,216$18,489$17,795$17,130$16,778
5 years$15,821$15,065$14,348$13,668$13,022$12,681
6 years$13,052$12,302$11,596$10,930$10,304$9,975
7 years$11,075$10,331$9,636$8,986$8,380$8,064
8 years$9,592$8,856$8,172$7,538$6,952$6,648
9 years$8,440$7,710$7,039$6,421$5,855$5,563
10 years$7,519$6,796$6,136$5,535$4,988$4,710
11 years$6,766$6,050$5,402$4,817$4,290$4,024
12 years$6,139$5,431$4,794$4,225$3,718$3,463
13 years$5,608$4,908$4,284$3,730$3,242$2,999
14 years$5,154$4,461$3,849$3,311$2,842$2,610
15 years$4,761$4,075$3,475$2,953$2,502$2,282
16 years$4,417$3,739$3,151$2,644$2,211$2,002
17 years$4,114$3,443$2,867$2,376$1,961$1,762
18 years$3,845$3,182$2,617$2,141$1,744$1,555
19 years$3,605$2,949$2,396$1,935$1,554$1,375
20 years$3,388$2,740$2,199$1,752$1,388$1,218
21 years$3,193$2,552$2,022$1,590$1,242$1,082
22 years$3,016$2,383$1,864$1,446$1,113$962
23 years$2,854$2,228$1,721$1,317$999$856
24 years$2,706$2,088$1,592$1,201$898$763
25 years$2,570$1,959$1,474$1,097$808$681
26 years$2,445$1,841$1,367$1,003$728$608
27 years$2,329$1,733$1,270$918$657$544
28 years$2,222$1,633$1,180$841$592$487
29 years$2,122$1,541$1,098$771$535$436
30 years$2,029$1,455$1,023$708$483$390
31 years$1,943$1,375$954$650$437$350
32 years$1,862$1,301$890$597$395$313
33 years$1,785$1,232$831$549$358$281
34 years$1,714$1,168$776$505$324$252
35 years$1,647$1,108$726$465$293$226
36 years$1,583$1,052$679$429$266$203
37 years$1,524$999$636$395$241$182
38 years$1,467$949$595$364$218$164
39 years$1,414$903$558$336$198$147
40 years$1,363$859$523$310$180$132
41 years$1,315$817$490$286$163$119
42 years$1,269$778$460$264$148$107
43 years$1,226$742$431$243$134$96
44 years$1,185$707$405$225$122$86
45 years$1,145$674$380$207$111$78
46 years$1,108$643$357$192$100$70
47 years$1,072$614$335$177$91$63
48 years$1,038$586$315$164$83$57
49 years$1,005$560$296$151$75$51
50 years$973$534$279$140$68$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $997,000, adding $5,565 every year, while hoping to spend $26,207 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: 25/45/30 Blend
56$997,000$997,000$997,000$997,000
57$1,104,434$1,051,593$1,036,140$1,121,601
58$1,189,203$1,075,237$1,042,966$1,160,169
59$1,281,739$1,099,162$1,049,143$1,198,922
60$1,382,808$1,123,352$1,054,621$1,239,936
61$1,493,251$1,147,793$1,059,348$1,283,420
62$1,613,996$1,172,468$1,063,269$1,329,604
63$1,746,062$1,197,358$1,066,328$1,378,743
64$1,890,573$1,222,441$1,068,463$1,431,118
65$2,048,767$1,247,696$1,069,611$1,487,039
66$2,222,005$1,273,097$1,069,707$1,546,849
67$2,411,787$1,298,617$1,068,680$1,610,927
68$2,619,767$1,324,226$1,066,458$1,679,692
69$2,847,762$1,349,892$1,062,963$1,753,606
70$3,097,777$1,375,580$1,058,116$1,833,179
71$3,372,020$1,401,253$1,051,832$1,918,977
72$3,672,921$1,426,869$1,044,023$2,011,622
73$4,003,157$1,452,385$1,034,597$2,111,802
74$4,365,680$1,477,752$1,023,456$2,220,278
75$4,763,736$1,502,919$1,010,499$2,337,889
76$5,200,907$1,527,831$995,620$2,465,562
77$5,681,134$1,552,429$978,708$2,604,320
78$6,208,760$1,576,650$959,646$2,755,296
79$6,788,572$1,600,423$938,312$2,919,735
80$7,425,839$1,623,677$914,578$3,099,018
81$8,126,370$1,646,332$888,312$3,294,665
82$8,896,563$1,668,305$859,373$3,508,356
83$9,743,466$1,689,506$827,616$3,741,946
84$10,674,846$1,709,839$792,888$3,997,482
85$11,699,260$1,729,200$755,029$4,277,222
86$12,826,134$1,747,481$713,872$4,583,662
87$14,065,857$1,764,565$669,244$4,919,554
88$15,429,872$1,780,326$620,962$5,287,934
89$16,930,790$1,794,633$568,835$5,692,157
90$18,582,504$1,807,343$512,664$6,135,921
91$20,400,323$1,818,307$452,242$6,623,308
92$22,401,116$1,827,363$387,352$7,158,823
93$24,603,468$1,834,342$317,766$7,747,436
94$27,027,859$1,839,063$243,249$8,394,629
95$29,696,855$1,841,332$163,553$9,106,454
96$32,635,322$1,840,945$78,419$9,889,583
97$35,870,659$1,837,685$0$10,751,378
98$39,433,055$1,831,321$0$11,703,943
99$43,355,779$1,821,608$0$12,779,302
100$47,675,489$1,808,286$0$13,962,302