Can I retire at age 57 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$161,855$160,413$159,007$157,634$156,293$154,276
2 years$80,126$78,634$77,188$75,785$74,425$72,396
3 years$52,887$51,388$49,946$48,556$47,218$45,240
4 years$39,270$37,776$36,348$34,982$33,677$31,764
5 years$31,102$29,617$28,207$26,870$25,600$23,760
6 years$25,658$24,184$22,796$21,488$20,257$18,490
7 years$21,771$20,310$18,943$17,666$16,474$14,782
8 years$18,858$17,409$16,065$14,820$13,667$12,049
9 years$16,593$15,158$13,837$12,623$11,510$9,965
10 years$14,782$13,361$12,064$10,881$9,807$8,335
11 years$13,301$11,894$10,621$9,470$8,434$7,034
12 years$12,068$10,676$9,425$8,307$7,309$5,978
13 years$11,025$9,648$8,421$7,333$6,373$5,110
14 years$10,132$8,770$7,566$6,510$5,587$4,390
15 years$9,359$8,011$6,831$5,806$4,919$3,786
16 years$8,684$7,350$6,194$5,198$4,348$3,277
17 years$8,088$6,769$5,636$4,671$3,855$2,844
18 years$7,559$6,255$5,145$4,209$3,428$2,474
19 years$7,086$5,797$4,710$3,803$3,055$2,157
20 years$6,661$5,387$4,323$3,445$2,729$1,884
21 years$6,278$5,018$3,976$3,126$2,442$1,648
22 years$5,929$4,684$3,664$2,842$2,189$1,443
23 years$5,611$4,381$3,383$2,589$1,965$1,266
24 years$5,320$4,104$3,129$2,361$1,766$1,111
25 years$5,053$3,852$2,898$2,156$1,589$976
26 years$4,807$3,620$2,688$1,972$1,431$858
27 years$4,579$3,407$2,496$1,805$1,291$755
28 years$4,368$3,210$2,320$1,653$1,165$665
29 years$4,172$3,029$2,159$1,516$1,052$586
30 years$3,990$2,860$2,011$1,392$950$516
31 years$3,819$2,704$1,875$1,278$859$455
32 years$3,660$2,558$1,749$1,174$777$401
33 years$3,510$2,423$1,633$1,080$703$354
34 years$3,370$2,296$1,526$994$637$312
35 years$3,237$2,178$1,427$915$577$276
36 years$3,113$2,067$1,335$843$522$243
37 years$2,995$1,963$1,249$776$474$215
38 years$2,884$1,866$1,170$715$429$190
39 years$2,779$1,774$1,096$660$389$168
40 years$2,680$1,688$1,027$608$353$148
41 years$2,585$1,607$963$561$320$131
42 years$2,495$1,530$904$518$291$116
43 years$2,410$1,458$848$478$264$102
44 years$2,329$1,390$796$442$239$90
45 years$2,251$1,325$747$408$217$80
46 years$2,178$1,264$702$377$197$70
47 years$2,107$1,207$660$348$179$62
48 years$2,040$1,152$620$322$163$55
49 years$1,975$1,100$583$297$148$49
50 years$1,914$1,051$548$275$134$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $1,960,000, adding $4,321 every year, while hoping to spend $38,655 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: 30/41/29 Blend
56$1,960,000$1,960,000$1,960,000$1,960,000
57$2,164,377$2,060,497$2,030,117$2,209,930
58$2,344,015$2,120,333$2,056,997$2,305,863
59$2,540,680$2,181,805$2,083,483$2,405,335
60$2,756,069$2,244,953$2,109,519$2,511,586
61$2,992,049$2,309,817$2,135,049$2,625,233
62$3,250,677$2,376,437$2,160,012$2,746,956
63$3,534,219$2,444,855$2,184,345$2,877,502
64$3,845,169$2,515,112$2,207,980$3,017,695
65$4,186,275$2,587,252$2,230,846$3,168,439
66$4,560,565$2,661,316$2,252,869$3,330,731
67$4,971,371$2,737,350$2,273,969$3,505,669
68$5,422,367$2,815,396$2,294,064$3,694,461
69$5,917,599$2,895,500$2,313,064$3,898,438
70$6,461,521$2,977,707$2,330,879$4,119,065
71$7,059,044$3,062,063$2,347,412$4,357,955
72$7,715,575$3,148,613$2,362,559$4,616,885
73$8,437,073$3,237,404$2,376,213$4,897,814
74$9,230,100$3,328,482$2,388,262$5,202,897
75$10,101,888$3,421,896$2,398,587$5,534,509
76$11,060,404$3,517,692$2,407,063$5,895,268
77$12,114,424$3,615,917$2,413,558$6,288,056
78$13,273,618$3,716,621$2,417,936$6,716,051
79$14,548,642$3,819,849$2,420,051$7,182,751
80$15,951,233$3,925,651$2,419,752$7,692,012
81$17,494,325$4,034,075$2,416,880$8,248,084
82$19,192,168$4,145,167$2,411,268$8,855,648
83$21,060,464$4,258,975$2,402,740$9,519,864
84$23,116,514$4,375,547$2,391,114$10,246,416
85$25,379,379$4,494,929$2,376,197$11,041,568
86$27,870,062$4,617,168$2,357,787$11,912,225
87$30,611,709$4,742,309$2,335,672$12,865,993
88$33,629,818$4,870,397$2,309,633$13,911,258
89$36,952,490$5,001,477$2,279,435$15,057,257
90$40,610,685$5,135,591$2,244,838$16,314,173
91$44,638,522$5,272,781$2,205,587$17,693,227
92$49,073,592$5,413,089$2,161,415$19,206,785
93$53,957,321$5,556,553$2,112,045$20,868,476
94$59,335,354$5,703,210$2,057,185$22,693,319
95$65,257,990$5,853,097$1,996,531$24,697,867
96$71,780,653$6,006,247$1,929,763$26,900,363
97$78,964,418$6,162,691$1,856,548$29,320,911
98$86,876,584$6,322,459$1,776,537$31,981,670
99$95,591,312$6,485,575$1,689,368$34,907,058
100$105,190,321$6,652,064$1,594,657$38,123,988