Can I retire at age 57 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$100,746$99,849$98,974$98,119$97,285$94,894
2 years$49,874$48,946$48,045$47,173$46,326$43,932
3 years$32,919$31,987$31,089$30,224$29,391$27,069
4 years$24,443$23,513$22,625$21,775$20,962$18,730
5 years$19,359$18,435$17,558$16,725$15,935$13,799
6 years$15,971$15,053$14,189$13,375$12,609$10,570
7 years$13,552$12,642$11,791$10,996$10,254$8,314
8 years$11,738$10,836$10,000$9,225$8,507$6,664
9 years$10,328$9,435$8,613$7,857$7,164$5,417
10 years$9,201$8,317$7,509$6,773$6,104$4,451
11 years$8,279$7,404$6,611$5,895$5,250$3,688
12 years$7,512$6,645$5,867$5,170$4,549$3,076
13 years$6,863$6,005$5,242$4,565$3,967$2,580
14 years$6,307$5,459$4,710$4,052$3,478$2,173
15 years$5,826$4,987$4,252$3,614$3,062$1,837
16 years$5,405$4,575$3,855$3,236$2,706$1,558
17 years$5,034$4,213$3,508$2,907$2,399$1,324
18 years$4,705$3,893$3,202$2,620$2,133$1,128
19 years$4,411$3,608$2,932$2,367$1,902$962
20 years$4,146$3,353$2,691$2,144$1,699$822
21 years$3,907$3,123$2,475$1,946$1,520$704
22 years$3,690$2,915$2,281$1,769$1,362$603
23 years$3,493$2,727$2,106$1,611$1,223$517
24 years$3,312$2,555$1,948$1,470$1,099$443
25 years$3,145$2,398$1,804$1,342$989$381
26 years$2,992$2,253$1,673$1,227$891$327
27 years$2,850$2,121$1,554$1,123$803$281
28 years$2,719$1,998$1,444$1,029$725$242
29 years$2,597$1,885$1,344$944$655$208
30 years$2,483$1,780$1,252$866$591$179
31 years$2,377$1,683$1,167$795$535$154
32 years$2,278$1,592$1,089$731$484$133
33 years$2,185$1,508$1,017$672$438$114
34 years$2,097$1,429$950$619$396$98
35 years$2,015$1,356$888$569$359$85
36 years$1,938$1,287$831$524$325$73
37 years$1,864$1,222$778$483$295$63
38 years$1,795$1,161$728$445$267$54
39 years$1,730$1,104$682$411$242$47
40 years$1,668$1,051$640$379$220$40
41 years$1,609$1,000$600$349$199$35
42 years$1,553$953$563$323$181$30
43 years$1,500$908$528$298$164$26
44 years$1,450$865$495$275$149$22
45 years$1,401$825$465$254$135$19
46 years$1,355$787$437$234$123$16
47 years$1,312$751$411$217$112$14
48 years$1,270$717$386$200$101$12
49 years$1,230$685$363$185$92$11
50 years$1,191$654$341$171$84$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,220,000, adding $5,384 every year, while hoping to spend $57,699 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: 47/32/21 Blend
56$1,220,000$1,220,000$1,220,000$1,220,000
57$1,349,994$1,285,334$1,266,424$1,405,142
58$1,426,302$1,286,924$1,247,457$1,445,813
59$1,508,459$1,286,658$1,225,922$1,483,739
60$1,597,002$1,284,384$1,201,671$1,523,713
61$1,692,519$1,279,942$1,174,549$1,565,953
62$1,795,656$1,273,159$1,144,397$1,610,701
63$1,907,124$1,263,855$1,111,045$1,658,227
64$2,027,703$1,251,836$1,074,318$1,708,834
65$2,158,253$1,236,900$1,034,031$1,762,858
66$2,299,715$1,218,828$989,992$1,820,673
67$2,453,128$1,197,393$941,999$1,882,695
68$2,619,633$1,172,351$889,841$1,949,389
69$2,800,485$1,143,445$833,300$2,021,271
70$2,997,063$1,110,403$772,144$2,098,914
71$3,210,886$1,072,936$706,134$2,182,957
72$3,443,625$1,030,738$635,018$2,274,107
73$3,697,119$983,488$558,535$2,373,152
74$3,973,389$930,843$476,410$2,480,965
75$4,274,663$872,443$388,358$2,598,517
76$4,603,390$807,904$294,079$2,726,883
77$4,962,268$736,823$193,263$2,867,258
78$5,354,265$658,773$85,583$3,020,965
79$5,782,650$573,303$0$3,189,473
80$6,251,021$479,936$0$3,380,980
81$6,763,341$378,168$0$3,611,609
82$7,323,970$267,467$0$3,864,243
83$7,937,713$147,270$0$4,141,182
84$8,609,858$16,985$0$4,444,964
85$9,346,231$0$0$4,778,396
86$10,153,246$0$0$5,188,247
87$11,037,968$0$0$5,644,258
88$12,008,179$0$0$6,144,478
89$13,072,447$0$0$6,693,341
90$14,240,213$0$0$7,295,736
91$15,521,874$0$0$7,957,044
92$16,928,883$0$0$8,683,196
93$18,473,856$0$0$9,480,724
94$20,170,691$0$0$10,356,822
95$22,034,696$0$0$11,319,417
96$24,082,737$0$0$12,377,243
97$26,333,395$0$0$13,539,919
98$28,807,137$0$0$14,818,045
99$31,526,515$0$0$16,223,296
100$34,516,372$0$0$17,768,538