Can I retire at age 57 with 1,060,000?

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 $1,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$87,534$86,754$85,993$85,251$84,526$81,592
2 years$43,334$42,527$41,744$40,986$40,250$37,325
3 years$28,602$27,792$27,011$26,260$25,537$22,711
4 years$21,238$20,430$19,657$18,919$18,213$15,509
5 years$16,820$16,017$15,255$14,532$13,845$11,271
6 years$13,876$13,079$12,328$11,621$10,955$8,512
7 years$11,774$10,984$10,245$9,554$8,909$6,597
8 years$10,199$9,415$8,688$8,015$7,391$5,207
9 years$8,974$8,198$7,483$6,827$6,225$4,166
10 years$7,994$7,226$6,524$5,885$5,304$3,368
11 years$7,193$6,433$5,744$5,122$4,561$2,744
12 years$6,526$5,774$5,097$4,492$3,953$2,250
13 years$5,963$5,218$4,554$3,966$3,447$1,854
14 years$5,480$4,743$4,092$3,521$3,021$1,534
15 years$5,062$4,333$3,695$3,140$2,660$1,273
16 years$4,696$3,975$3,350$2,811$2,351$1,060
17 years$4,374$3,661$3,048$2,526$2,085$884
18 years$4,088$3,383$2,782$2,276$1,854$738
19 years$3,832$3,135$2,547$2,057$1,652$618
20 years$3,603$2,913$2,338$1,863$1,476$518
21 years$3,395$2,714$2,150$1,691$1,321$434
22 years$3,206$2,533$1,982$1,537$1,184$364
23 years$3,035$2,369$1,830$1,400$1,063$306
24 years$2,877$2,220$1,692$1,277$955$257
25 years$2,733$2,083$1,567$1,166$859$216
26 years$2,600$1,958$1,454$1,066$774$182
27 years$2,477$1,843$1,350$976$698$153
28 years$2,363$1,736$1,255$894$630$129
29 years$2,256$1,638$1,168$820$569$109
30 years$2,158$1,547$1,088$753$514$91
31 years$2,065$1,462$1,014$691$465$77
32 years$1,979$1,384$946$635$420$65
33 years$1,898$1,310$883$584$380$55
34 years$1,822$1,242$825$537$344$46
35 years$1,751$1,178$772$495$312$39
36 years$1,684$1,118$722$456$283$33
37 years$1,620$1,062$676$420$256$28
38 years$1,560$1,009$633$387$232$23
39 years$1,503$960$593$357$211$20
40 years$1,449$913$556$329$191$17
41 years$1,398$869$521$304$173$14
42 years$1,350$828$489$280$157$12
43 years$1,303$789$459$259$143$10
44 years$1,259$752$430$239$130$8
45 years$1,218$717$404$221$118$7
46 years$1,178$684$380$204$107$6
47 years$1,140$653$357$188$97$5
48 years$1,103$623$335$174$88$4
49 years$1,068$595$315$161$80$4
50 years$1,035$568$296$149$73$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,060,000, adding $6,278 every year, while hoping to spend $41,580 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: 43/38/19 Blend
56$1,060,000$1,060,000$1,060,000$1,060,000
57$1,174,596$1,118,416$1,101,986$1,218,362
58$1,250,164$1,128,977$1,094,661$1,260,434
59$1,332,046$1,138,663$1,085,698$1,301,432
60$1,420,843$1,147,385$1,074,997$1,344,984
61$1,517,214$1,155,053$1,062,455$1,391,346
62$1,621,886$1,161,566$1,047,963$1,440,802
63$1,735,657$1,166,821$1,031,408$1,493,666
64$1,859,404$1,170,706$1,012,671$1,550,286
65$1,994,096$1,173,103$991,628$1,611,050
66$2,140,795$1,173,886$968,148$1,676,385
67$2,300,670$1,172,921$942,096$1,746,767
68$2,475,011$1,170,067$913,329$1,822,720
69$2,665,235$1,165,172$881,698$1,904,828
70$2,872,901$1,158,078$847,047$1,993,735
71$3,099,727$1,148,614$809,213$2,090,156
72$3,347,603$1,136,600$768,026$2,194,882
73$3,618,612$1,121,847$723,308$2,308,788
74$3,915,044$1,104,152$674,873$2,432,844
75$4,239,424$1,083,300$622,526$2,568,121
76$4,594,529$1,059,066$566,065$2,715,807
77$4,983,420$1,031,209$505,277$2,877,213
78$5,409,465$999,474$439,940$3,053,792
79$5,876,376$963,594$369,823$3,247,149
80$6,388,238$923,282$294,684$3,459,061
81$6,949,554$878,238$214,271$3,691,490
82$7,565,279$828,143$128,320$3,946,607
83$8,240,875$772,659$36,556$4,226,810
84$8,982,356$711,431$0$4,534,753
85$9,796,347$644,081$0$4,885,807
86$10,690,145$570,212$0$5,279,486
87$11,671,789$489,402$0$5,712,012
88$12,750,136$401,207$0$6,187,404
89$13,934,940$305,156$0$6,710,097
90$15,236,950$200,755$0$7,284,986
91$16,668,004$87,478$0$7,917,471
92$18,241,149$0$0$8,613,514
93$19,970,753$0$0$9,394,421
94$21,872,652$0$0$10,293,483
95$23,964,287$0$0$11,282,386
96$26,264,879$0$0$12,370,235
97$28,795,603$0$0$13,567,061
98$31,579,790$0$0$14,883,918
99$34,643,145$0$0$16,332,984
100$38,013,992$0$0$17,927,679