Can I retire at age 57 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$83,405$82,662$81,937$81,230$80,539$77,466
2 years$41,290$40,521$39,775$39,053$38,352$35,292
3 years$27,253$26,481$25,737$25,021$24,332$21,382
4 years$20,236$19,466$18,730$18,027$17,354$14,535
5 years$16,027$15,262$14,535$13,846$13,192$10,513
6 years$13,222$12,462$11,747$11,073$10,438$7,900
7 years$11,219$10,466$9,762$9,104$8,489$6,091
8 years$9,717$8,971$8,279$7,637$7,043$4,782
9 years$8,550$7,811$7,130$6,505$5,931$3,805
10 years$7,617$6,885$6,216$5,607$5,053$3,059
11 years$6,854$6,129$5,473$4,880$4,346$2,478
12 years$6,219$5,501$4,857$4,280$3,766$2,019
13 years$5,681$4,972$4,339$3,779$3,284$1,654
14 years$5,221$4,519$3,899$3,355$2,879$1,360
15 years$4,823$4,128$3,520$2,992$2,535$1,121
16 years$4,475$3,788$3,192$2,679$2,240$927
17 years$4,168$3,488$2,904$2,407$1,986$768
18 years$3,895$3,223$2,651$2,169$1,766$637
19 years$3,652$2,987$2,427$1,960$1,574$530
20 years$3,433$2,776$2,227$1,775$1,406$441
21 years$3,235$2,586$2,049$1,611$1,258$367
22 years$3,055$2,414$1,888$1,465$1,128$306
23 years$2,891$2,257$1,743$1,334$1,013$255
24 years$2,742$2,115$1,612$1,217$910$213
25 years$2,604$1,985$1,493$1,111$819$178
26 years$2,477$1,865$1,385$1,016$738$149
27 years$2,360$1,756$1,286$930$665$124
28 years$2,251$1,654$1,196$852$600$104
29 years$2,150$1,561$1,113$781$542$87
30 years$2,056$1,474$1,036$717$490$72
31 years$1,968$1,393$966$659$443$61
32 years$1,886$1,318$901$605$400$51
33 years$1,809$1,248$842$557$362$42
34 years$1,736$1,183$786$512$328$35
35 years$1,668$1,122$735$471$297$30
36 years$1,604$1,065$688$434$269$25
37 years$1,544$1,012$644$400$244$21
38 years$1,486$962$603$369$221$17
39 years$1,432$914$565$340$201$15
40 years$1,381$870$529$314$182$12
41 years$1,332$828$496$289$165$10
42 years$1,286$789$466$267$150$9
43 years$1,242$751$437$246$136$7
44 years$1,200$716$410$228$123$6
45 years$1,160$683$385$210$112$5
46 years$1,122$652$362$194$102$4
47 years$1,086$622$340$179$92$3
48 years$1,051$594$319$166$84$3
49 years$1,018$567$300$153$76$2
50 years$986$541$282$142$69$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,010,000, adding $6,966 every year, while hoping to spend $41,501 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: 29/47/24 Blend
56$1,010,000$1,010,000$1,010,000$1,010,000
57$1,120,205$1,066,675$1,051,020$1,144,158
58$1,190,310$1,074,786$1,042,073$1,171,455
59$1,266,174$1,081,903$1,031,435$1,196,654
60$1,348,341$1,087,933$1,019,005$1,222,890
61$1,437,409$1,092,780$1,004,680$1,250,280
62$1,534,036$1,096,337$988,347$1,278,956
63$1,638,944$1,098,494$969,893$1,309,064
64$1,752,929$1,099,132$949,197$1,340,771
65$1,876,864$1,098,127$926,132$1,374,263
66$2,011,713$1,095,343$900,566$1,409,749
67$2,158,533$1,090,641$872,361$1,447,464
68$2,318,491$1,083,870$841,372$1,487,669
69$2,492,867$1,074,870$807,448$1,530,660
70$2,683,074$1,063,472$770,432$1,576,764
71$2,890,663$1,049,498$730,157$1,626,348
72$3,117,345$1,032,758$686,452$1,679,823
73$3,365,001$1,013,050$639,135$1,737,647
74$3,635,703$990,162$588,018$1,800,328
75$3,931,733$963,867$532,904$1,868,437
76$4,255,600$933,927$473,587$1,942,608
77$4,610,072$900,090$409,853$2,023,546
78$4,998,192$862,087$341,475$2,112,036
79$5,423,314$819,636$268,221$2,208,954
80$5,889,130$772,436$189,845$2,315,270
81$6,399,708$720,172$106,091$2,432,066
82$6,959,526$662,509$16,694$2,560,540
83$7,573,518$599,092$0$2,702,028
84$8,247,117$529,547$0$2,878,163
85$8,986,307$453,479$0$3,076,306
86$9,797,681$370,471$0$3,294,077
87$10,688,501$280,080$0$3,533,579
88$11,666,765$181,841$0$3,797,137
89$12,741,286$75,262$0$4,087,325
90$13,921,769$0$0$4,406,987
91$15,218,909$0$0$4,780,049
92$16,644,487$0$0$5,233,001
93$18,211,481$0$0$5,731,065
94$19,934,191$0$0$6,278,806
95$21,828,368$0$0$6,881,257
96$23,911,369$0$0$7,543,961
97$26,202,317$0$0$8,273,026
98$28,722,279$0$0$9,075,183
99$31,494,468$0$0$9,957,847
100$34,544,459$0$0$10,929,188