Can I retire at age 57 with 1,030,000?

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 $1,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$85,056$84,299$83,560$82,838$82,134$79,441
2 years$42,107$41,323$40,563$39,826$39,111$36,424
3 years$27,793$27,005$26,247$25,517$24,814$22,217
4 years$20,637$19,852$19,101$18,384$17,697$15,210
5 years$16,344$15,564$14,823$14,120$13,453$11,082
6 years$13,484$12,709$11,979$11,292$10,645$8,392
7 years$11,441$10,673$9,955$9,284$8,657$6,523
8 years$9,910$9,149$8,443$7,788$7,182$5,164
9 years$8,720$7,966$7,272$6,634$6,048$4,144
10 years$7,768$7,021$6,339$5,718$5,154$3,361
11 years$6,990$6,251$5,581$4,977$4,432$2,747
12 years$6,342$5,610$4,953$4,365$3,841$2,260
13 years$5,794$5,070$4,425$3,854$3,349$1,869
14 years$5,325$4,609$3,976$3,421$2,936$1,551
15 years$4,918$4,210$3,590$3,051$2,585$1,292
16 years$4,563$3,863$3,255$2,732$2,285$1,079
17 years$4,250$3,557$2,962$2,454$2,026$904
18 years$3,972$3,287$2,704$2,212$1,801$758
19 years$3,724$3,046$2,475$1,999$1,605$636
20 years$3,501$2,831$2,272$1,810$1,434$535
21 years$3,299$2,637$2,089$1,643$1,283$451
22 years$3,116$2,461$1,926$1,494$1,150$380
23 years$2,949$2,302$1,778$1,360$1,033$320
24 years$2,796$2,157$1,644$1,241$928$270
25 years$2,655$2,024$1,523$1,133$835$228
26 years$2,526$1,902$1,413$1,036$752$193
27 years$2,407$1,790$1,312$948$678$163
28 years$2,296$1,687$1,219$869$612$138
29 years$2,193$1,592$1,135$797$553$116
30 years$2,097$1,503$1,057$731$499$98
31 years$2,007$1,421$985$672$451$83
32 years$1,923$1,344$919$617$408$70
33 years$1,845$1,273$858$568$370$60
34 years$1,771$1,207$802$522$335$50
35 years$1,701$1,145$750$481$303$43
36 years$1,636$1,086$701$443$275$36
37 years$1,574$1,032$657$408$249$31
38 years$1,516$981$615$376$226$26
39 years$1,461$932$576$347$205$22
40 years$1,408$887$540$320$186$19
41 years$1,359$844$506$295$168$16
42 years$1,311$804$475$272$153$13
43 years$1,266$766$446$251$139$11
44 years$1,224$730$418$232$126$10
45 years$1,183$697$393$214$114$8
46 years$1,144$664$369$198$104$7
47 years$1,107$634$347$183$94$6
48 years$1,072$605$326$169$86$5
49 years$1,038$578$306$156$78$4
50 years$1,006$552$288$144$71$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,030,000, adding $2,511 every year, while hoping to spend $32,901 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: 25/47/28 Blend
56$1,030,000$1,030,000$1,030,000$1,030,000
57$1,137,650$1,083,060$1,067,095$1,156,050
58$1,218,684$1,101,124$1,067,836$1,189,672
59$1,306,881$1,118,970$1,067,500$1,222,735
60$1,402,936$1,136,553$1,066,014$1,257,504
61$1,507,616$1,153,824$1,063,306$1,294,142
62$1,621,762$1,170,731$1,059,297$1,332,835
63$1,746,304$1,187,219$1,053,905$1,373,787
64$1,882,261$1,203,226$1,047,045$1,417,225
65$2,030,757$1,218,690$1,038,626$1,463,401
66$2,193,030$1,233,541$1,028,556$1,512,594
67$2,370,441$1,247,707$1,016,735$1,565,116
68$2,564,491$1,261,110$1,003,060$1,621,312
69$2,776,830$1,273,665$987,424$1,681,564
70$3,009,277$1,285,285$969,713$1,746,296
71$3,263,833$1,295,874$949,808$1,815,980
72$3,542,704$1,305,331$927,586$1,891,137
73$3,848,317$1,313,550$902,918$1,972,346
74$4,183,347$1,320,416$875,668$2,060,247
75$4,550,739$1,325,807$845,693$2,155,552
76$4,953,737$1,329,593$812,846$2,259,048
77$5,395,913$1,331,639$776,971$2,371,606
78$5,881,203$1,331,796$737,907$2,494,192
79$6,413,943$1,329,911$695,484$2,627,875
80$6,998,907$1,325,819$649,525$2,773,837
81$7,641,356$1,319,344$599,844$2,933,390
82$8,347,084$1,310,302$546,248$3,107,980
83$9,122,475$1,298,495$488,536$3,299,213
84$9,974,562$1,283,716$426,497$3,508,862
85$10,911,092$1,265,742$359,909$3,738,889
86$11,940,600$1,244,341$288,543$3,991,462
87$13,072,490$1,219,263$212,158$4,268,982
88$14,317,123$1,190,245$130,504$4,574,099
89$15,685,912$1,157,009$43,318$4,909,747
90$17,191,433$1,119,261$0$5,279,164
91$18,847,543$1,076,689$0$5,700,789
92$20,669,507$1,028,961$0$6,178,499
93$22,674,147$975,730$0$6,703,800
94$24,879,994$916,626$0$7,281,615
95$27,307,471$851,257$0$7,917,376
96$29,979,076$779,212$0$8,617,079
97$32,919,601$700,053$0$9,387,336
98$36,156,364$613,319$0$10,235,446
99$39,719,463$518,522$0$11,169,460
100$43,642,067$415,148$0$12,198,260