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%11.6%
1 years$82,414$81,680$80,964$80,265$79,582$79,047
2 years$40,799$40,039$39,303$38,589$37,896$37,357
3 years$26,929$26,166$25,431$24,724$24,043$23,516
4 years$19,996$19,235$18,508$17,812$17,148$16,637
5 years$15,837$15,080$14,363$13,682$13,035$12,542
6 years$13,065$12,314$11,607$10,941$10,314$9,840
7 years$11,086$10,341$9,646$8,995$8,388$7,932
8 years$9,602$8,865$8,180$7,546$6,959$6,521
9 years$8,449$7,718$7,046$6,428$5,860$5,441
10 years$7,527$6,803$6,143$5,541$4,993$4,592
11 years$6,773$6,056$5,408$4,822$4,294$3,911
12 years$6,145$5,436$4,799$4,230$3,722$3,356
13 years$5,614$4,913$4,288$3,734$3,245$2,897
14 years$5,159$4,465$3,853$3,315$2,845$2,513
15 years$4,766$4,079$3,478$2,956$2,505$2,190
16 years$4,422$3,743$3,154$2,647$2,214$1,915
17 years$4,118$3,447$2,870$2,378$1,963$1,679
18 years$3,849$3,185$2,620$2,143$1,745$1,476
19 years$3,608$2,952$2,398$1,937$1,556$1,301
20 years$3,392$2,743$2,201$1,754$1,389$1,149
21 years$3,196$2,555$2,024$1,592$1,243$1,016
22 years$3,019$2,385$1,866$1,447$1,115$900
23 years$2,857$2,231$1,723$1,318$1,000$799
24 years$2,709$2,090$1,593$1,202$899$709
25 years$2,573$1,961$1,476$1,098$809$630
26 years$2,448$1,843$1,369$1,004$729$561
27 years$2,332$1,735$1,271$919$657$499
28 years$2,224$1,635$1,181$842$593$445
29 years$2,124$1,542$1,099$772$535$397
30 years$2,031$1,456$1,024$709$484$354
31 years$1,945$1,377$955$651$437$316
32 years$1,863$1,303$891$598$396$282
33 years$1,787$1,234$832$550$358$252
34 years$1,716$1,169$777$506$324$225
35 years$1,648$1,109$727$466$294$201
36 years$1,585$1,053$680$429$266$180
37 years$1,525$1,000$636$395$241$161
38 years$1,469$950$596$364$219$144
39 years$1,415$903$558$336$198$129
40 years$1,364$860$523$310$180$115
41 years$1,316$818$491$286$163$103
42 years$1,271$779$460$264$148$92
43 years$1,227$742$432$244$134$83
44 years$1,186$708$405$225$122$74
45 years$1,146$675$381$208$111$66
46 years$1,109$644$357$192$101$59
47 years$1,073$614$336$177$91$53
48 years$1,039$587$316$164$83$48
49 years$1,006$560$297$151$75$43
50 years$974$535$279$140$68$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $998,000, adding $2,034 every year, while hoping to spend $28,393 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: 55/24/21 Blend
56$998,000$998,000$998,000$998,000
57$1,101,894$1,049,000$1,033,531$1,156,110
58$1,184,077$1,070,191$1,037,944$1,214,633
59$1,273,692$1,091,469$1,041,554$1,275,160
60$1,371,465$1,112,808$1,044,303$1,340,463
61$1,478,199$1,134,180$1,046,131$1,411,008
62$1,594,775$1,155,555$1,046,977$1,487,308
63$1,722,165$1,176,899$1,046,773$1,569,929
64$1,861,437$1,198,179$1,045,452$1,659,495
65$2,013,769$1,219,355$1,042,939$1,756,696
66$2,180,456$1,240,386$1,039,161$1,862,288
67$2,362,926$1,261,228$1,034,036$1,977,109
68$2,562,750$1,281,834$1,027,481$2,102,082
69$2,781,658$1,302,151$1,019,409$2,238,222
70$3,021,556$1,322,125$1,009,729$2,386,652
71$3,284,543$1,341,698$998,343$2,548,609
72$3,572,930$1,360,805$985,152$2,725,455
73$3,889,265$1,379,380$970,050$2,918,694
74$4,236,349$1,397,350$952,926$3,129,983
75$4,617,274$1,414,637$933,666$3,361,150
76$5,035,441$1,431,159$912,148$3,614,211
77$5,494,597$1,446,827$888,247$3,891,388
78$5,998,872$1,461,548$861,829$4,195,130
79$6,552,814$1,475,220$832,757$4,528,139
80$7,161,432$1,487,737$800,886$4,893,393
81$7,830,247$1,498,985$766,065$5,294,177
82$8,565,339$1,508,842$728,134$5,734,111
83$9,373,407$1,517,179$686,930$6,217,188
84$10,261,832$1,523,858$642,280$6,747,807
85$11,238,744$1,528,733$594,002$7,330,823
86$12,313,104$1,531,648$541,908$7,971,585
87$13,494,780$1,532,438$485,802$8,675,990
88$14,794,648$1,530,928$425,477$9,450,543
89$16,224,689$1,526,931$360,718$10,302,410
90$17,798,106$1,520,249$291,300$11,239,496
91$19,529,444$1,510,673$216,990$12,270,514
92$21,434,730$1,497,979$137,542$13,405,067
93$23,531,625$1,481,931$52,702$14,653,746
94$25,839,584$1,462,280$0$16,028,222
95$28,380,049$1,438,759$0$17,549,842
96$31,176,644$1,411,088$0$19,237,465
97$34,255,399$1,378,968$0$21,094,973
98$37,644,997$1,342,085$0$23,139,669
99$41,377,044$1,300,105$0$25,390,626
100$45,486,366$1,252,673$0$27,868,862