Can I retire at age 57 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$82,414$81,680$80,964$80,265$79,582$77,034
2 years$40,799$40,039$39,303$38,589$37,896$35,353
3 years$26,929$26,166$25,431$24,724$24,043$21,584
4 years$19,996$19,235$18,508$17,812$17,148$14,792
5 years$15,837$15,080$14,363$13,682$13,035$10,789
6 years$13,065$12,314$11,607$10,941$10,314$8,179
7 years$11,086$10,341$9,646$8,995$8,388$6,364
8 years$9,602$8,865$8,180$7,546$6,959$5,045
9 years$8,449$7,718$7,046$6,428$5,860$4,054
10 years$7,527$6,803$6,143$5,541$4,993$3,291
11 years$6,773$6,056$5,408$4,822$4,294$2,694
12 years$6,145$5,436$4,799$4,230$3,722$2,219
13 years$5,614$4,913$4,288$3,734$3,245$1,837
14 years$5,159$4,465$3,853$3,315$2,845$1,527
15 years$4,766$4,079$3,478$2,956$2,505$1,274
16 years$4,422$3,743$3,154$2,647$2,214$1,066
17 years$4,118$3,447$2,870$2,378$1,963$893
18 years$3,849$3,185$2,620$2,143$1,745$750
19 years$3,608$2,952$2,398$1,937$1,556$631
20 years$3,392$2,743$2,201$1,754$1,389$532
21 years$3,196$2,555$2,024$1,592$1,243$448
22 years$3,019$2,385$1,866$1,447$1,115$378
23 years$2,857$2,231$1,723$1,318$1,000$320
24 years$2,709$2,090$1,593$1,202$899$270
25 years$2,573$1,961$1,476$1,098$809$228
26 years$2,448$1,843$1,369$1,004$729$193
27 years$2,332$1,735$1,271$919$657$164
28 years$2,224$1,635$1,181$842$593$139
29 years$2,124$1,542$1,099$772$535$117
30 years$2,031$1,456$1,024$709$484$99
31 years$1,945$1,377$955$651$437$84
32 years$1,863$1,303$891$598$396$71
33 years$1,787$1,234$832$550$358$60
34 years$1,716$1,169$777$506$324$51
35 years$1,648$1,109$727$466$294$43
36 years$1,585$1,053$680$429$266$37
37 years$1,525$1,000$636$395$241$31
38 years$1,469$950$596$364$219$26
39 years$1,415$903$558$336$198$22
40 years$1,364$860$523$310$180$19
41 years$1,316$818$491$286$163$16
42 years$1,271$779$460$264$148$14
43 years$1,227$742$432$244$134$12
44 years$1,186$708$405$225$122$10
45 years$1,146$675$381$208$111$8
46 years$1,109$644$357$192$101$7
47 years$1,073$614$336$177$91$6
48 years$1,039$587$316$164$83$5
49 years$1,006$560$297$151$75$4
50 years$974$535$279$140$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $998,000, adding $4,638 every year, while hoping to spend $58,416 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: 73/14/13 Blend
56$998,000$998,000$998,000$998,000
57$1,104,580$1,051,686$1,036,217$1,181,852
58$1,155,093$1,041,065$1,008,776$1,222,976
59$1,208,801$1,027,965$978,458$1,260,352
60$1,265,967$1,012,203$945,105$1,299,717
61$1,326,881$993,587$908,551$1,341,253
62$1,391,859$971,909$868,624$1,385,162
63$1,461,249$946,953$825,143$1,431,666
64$1,535,430$918,487$777,919$1,481,012
65$1,614,819$886,268$726,755$1,533,474
66$1,699,874$850,039$671,445$1,589,354
67$1,791,095$809,524$611,772$1,648,985
68$1,889,032$764,436$547,512$1,712,738
69$1,994,289$714,470$478,429$1,781,022
70$2,107,528$659,301$404,278$1,854,290
71$2,229,477$598,588$324,803$1,933,042
72$2,360,935$531,970$239,735$2,017,833
73$2,502,779$459,065$148,795$2,109,275
74$2,655,974$379,470$51,691$2,208,045
75$2,821,579$292,760$0$2,314,893
76$3,000,758$198,483$0$2,437,852
77$3,194,792$96,166$0$2,578,751
78$3,405,089$0$0$2,731,473
79$3,633,194$0$0$2,899,449
80$3,880,812$0$0$3,097,913
81$4,149,813$0$0$3,313,556
82$4,442,256$0$0$3,548,034
83$4,760,408$0$0$3,803,168
84$5,106,759$0$0$4,080,963
85$5,484,054$0$0$4,383,623
86$5,895,309$0$0$4,713,577
87$6,343,846$0$0$5,073,495
88$6,833,322$0$0$5,466,318
89$7,367,760$0$0$5,895,281
90$7,951,589$0$0$6,363,947
91$8,589,688$0$0$6,876,239
92$9,287,424$0$0$7,436,474
93$10,050,709$0$0$8,049,408
94$10,886,053$0$0$8,720,275
95$11,800,621$0$0$9,454,839
96$12,802,308$0$0$10,259,450
97$13,899,805$0$0$11,141,098
98$15,102,683$0$0$12,107,483
99$16,421,486$0$0$13,167,083
100$17,867,824$0$0$14,329,239