Can I retire at age 57 with 998,000?

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 $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%12.7%
1 years$82,414$81,680$80,964$80,265$79,582$78,685
2 years$40,799$40,039$39,303$38,589$37,896$36,994
3 years$26,929$26,166$25,431$24,724$24,043$23,162
4 years$19,996$19,235$18,508$17,812$17,148$16,296
5 years$15,837$15,080$14,363$13,682$13,035$12,215
6 years$13,065$12,314$11,607$10,941$10,314$9,526
7 years$11,086$10,341$9,646$8,995$8,388$7,633
8 years$9,602$8,865$8,180$7,546$6,959$6,236
9 years$8,449$7,718$7,046$6,428$5,860$5,170
10 years$7,527$6,803$6,143$5,541$4,993$4,334
11 years$6,773$6,056$5,408$4,822$4,294$3,667
12 years$6,145$5,436$4,799$4,230$3,722$3,124
13 years$5,614$4,913$4,288$3,734$3,245$2,678
14 years$5,159$4,465$3,853$3,315$2,845$2,307
15 years$4,766$4,079$3,478$2,956$2,505$1,995
16 years$4,422$3,743$3,154$2,647$2,214$1,731
17 years$4,118$3,447$2,870$2,378$1,963$1,507
18 years$3,849$3,185$2,620$2,143$1,745$1,314
19 years$3,608$2,952$2,398$1,937$1,556$1,149
20 years$3,392$2,743$2,201$1,754$1,389$1,007
21 years$3,196$2,555$2,024$1,592$1,243$883
22 years$3,019$2,385$1,866$1,447$1,115$776
23 years$2,857$2,231$1,723$1,318$1,000$683
24 years$2,709$2,090$1,593$1,202$899$601
25 years$2,573$1,961$1,476$1,098$809$530
26 years$2,448$1,843$1,369$1,004$729$467
27 years$2,332$1,735$1,271$919$657$412
28 years$2,224$1,635$1,181$842$593$364
29 years$2,124$1,542$1,099$772$535$322
30 years$2,031$1,456$1,024$709$484$285
31 years$1,945$1,377$955$651$437$252
32 years$1,863$1,303$891$598$396$223
33 years$1,787$1,234$832$550$358$197
34 years$1,716$1,169$777$506$324$175
35 years$1,648$1,109$727$466$294$155
36 years$1,585$1,053$680$429$266$137
37 years$1,525$1,000$636$395$241$121
38 years$1,469$950$596$364$219$107
39 years$1,415$903$558$336$198$95
40 years$1,364$860$523$310$180$84
41 years$1,316$818$491$286$163$75
42 years$1,271$779$460$264$148$66
43 years$1,227$742$432$244$134$59
44 years$1,186$708$405$225$122$52
45 years$1,146$675$381$208$111$46
46 years$1,109$644$357$192$101$41
47 years$1,073$614$336$177$91$36
48 years$1,039$587$316$164$83$32
49 years$1,006$560$297$151$75$29
50 years$974$535$279$140$68$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $998,000, adding $5,787 every year, while hoping to spend $26,082 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: 57/30/13 Blend
56$998,000$998,000$998,000$998,000
57$1,105,765$1,052,871$1,037,402$1,164,833
58$1,190,802$1,076,711$1,044,404$1,229,295
59$1,283,639$1,100,845$1,050,767$1,296,126
60$1,385,043$1,125,259$1,056,440$1,368,337
61$1,495,861$1,149,940$1,061,374$1,446,448
62$1,617,022$1,174,870$1,065,514$1,531,030
63$1,749,552$1,200,033$1,068,802$1,622,715
64$1,894,580$1,225,408$1,071,181$1,722,196
65$2,053,347$1,250,973$1,072,585$1,830,240
66$2,227,223$1,276,705$1,072,951$1,947,689
67$2,417,713$1,302,577$1,072,209$2,075,472
68$2,626,478$1,328,562$1,070,286$2,214,614
69$2,855,345$1,354,628$1,067,107$2,366,242
70$3,106,327$1,380,741$1,062,591$2,531,600
71$3,381,641$1,406,866$1,056,657$2,712,058
72$3,683,728$1,432,962$1,049,215$2,909,124
73$4,015,279$1,458,988$1,040,174$3,124,465
74$4,379,256$1,484,897$1,029,438$3,359,912
75$4,778,923$1,510,640$1,016,908$3,617,487
76$5,217,875$1,536,163$1,002,476$3,899,418
77$5,700,073$1,561,409$986,033$4,208,159
78$6,229,878$1,586,316$967,463$4,546,416
79$6,812,099$1,610,819$946,646$4,917,172
80$7,452,029$1,634,845$923,455$5,323,712
81$8,155,503$1,658,319$897,757$5,769,660
82$8,928,947$1,681,159$869,415$6,259,009
83$9,779,442$1,703,279$838,283$6,796,160
84$10,714,790$1,724,584$804,210$7,385,962
85$11,743,585$1,744,975$767,038$8,033,764
86$12,875,297$1,764,346$726,601$8,745,457
87$14,120,362$1,782,583$682,726$9,527,536
88$15,490,274$1,799,565$635,232$10,387,162
89$16,997,700$1,815,162$583,931$11,332,224
90$18,656,598$1,829,237$528,625$12,371,419
91$20,482,345$1,841,644$469,107$13,514,334
92$22,491,885$1,852,225$405,164$14,771,533
93$24,703,889$1,860,817$336,569$16,154,663
94$27,138,930$1,867,240$263,088$17,676,558
95$29,819,674$1,871,309$184,475$19,351,365
96$32,771,101$1,872,823$100,475$21,194,678
97$36,020,733$1,871,571$10,820$23,223,681
98$39,598,897$1,867,327$0$25,457,317
99$43,539,011$1,859,853$0$27,928,233
100$47,877,899$1,848,895$0$30,650,035