Can I retire at age 57 with 2,220,000?

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 $2,220,000?

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$183,326$181,693$180,099$178,544$177,026$172,676
2 years$90,755$89,065$87,427$85,839$84,298$79,943
3 years$59,902$58,205$56,571$54,998$53,482$49,257
4 years$44,479$42,787$41,169$39,623$38,144$34,082
5 years$35,228$33,545$31,949$30,434$28,996$25,109
6 years$29,062$27,392$25,820$24,338$22,944$19,234
7 years$24,659$23,004$21,456$20,010$18,660$15,129
8 years$21,359$19,719$18,197$16,786$15,480$12,126
9 years$18,794$17,169$15,673$14,298$13,036$9,857
10 years$16,742$15,133$13,664$12,325$11,108$8,099
11 years$15,065$13,472$12,029$10,726$9,553$6,710
12 years$13,669$12,092$10,676$9,408$8,278$5,597
13 years$12,488$10,928$9,538$8,306$7,219$4,694
14 years$11,477$9,933$8,570$7,373$6,328$3,954
15 years$10,601$9,074$7,738$6,576$5,572$3,343
16 years$9,835$8,325$7,015$5,888$4,924$2,834
17 years$9,161$7,667$6,384$5,290$4,366$2,409
18 years$8,562$7,085$5,827$4,768$3,882$2,052
19 years$8,026$6,566$5,335$4,308$3,460$1,751
20 years$7,545$6,102$4,896$3,902$3,091$1,497
21 years$7,110$5,683$4,503$3,541$2,766$1,281
22 years$6,715$5,305$4,150$3,220$2,479$1,097
23 years$6,356$4,962$3,832$2,932$2,226$940
24 years$6,026$4,649$3,544$2,674$2,000$807
25 years$5,724$4,363$3,283$2,442$1,800$693
26 years$5,445$4,100$3,044$2,233$1,621$595
27 years$5,187$3,859$2,827$2,044$1,462$512
28 years$4,948$3,636$2,628$1,873$1,319$440
29 years$4,726$3,430$2,446$1,717$1,191$378
30 years$4,519$3,240$2,278$1,576$1,076$326
31 years$4,326$3,062$2,124$1,448$973$280
32 years$4,145$2,898$1,982$1,330$880$241
33 years$3,976$2,744$1,850$1,223$797$208
34 years$3,817$2,601$1,729$1,126$721$179
35 years$3,667$2,467$1,616$1,036$653$154
36 years$3,526$2,341$1,512$954$592$133
37 years$3,393$2,224$1,415$879$536$114
38 years$3,267$2,113$1,325$810$486$99
39 years$3,148$2,010$1,242$747$441$85
40 years$3,035$1,912$1,164$689$400$73
41 years$2,928$1,820$1,091$636$363$63
42 years$2,826$1,733$1,024$587$329$54
43 years$2,730$1,652$960$542$299$47
44 years$2,638$1,574$902$500$271$40
45 years$2,550$1,501$847$462$246$35
46 years$2,466$1,432$795$427$224$30
47 years$2,387$1,367$747$394$203$26
48 years$2,310$1,305$702$364$184$22
49 years$2,237$1,246$660$337$167$19
50 years$2,167$1,190$620$311$152$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,220,000, adding $3,197 every year, while hoping to spend $38,022 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: 40/48/12 Blend
56$2,220,000$2,220,000$2,220,000$2,220,000
57$2,449,738$2,332,078$2,297,668$2,538,824
58$2,659,156$2,405,894$2,334,184$2,675,822
59$2,888,660$2,482,054$2,370,650$2,819,945
60$3,140,260$2,560,630$2,407,023$2,975,016
61$3,416,166$2,641,702$2,443,259$3,142,043
62$3,718,817$2,725,347$2,479,309$3,322,135
63$4,050,895$2,811,647$2,515,125$3,516,510
64$4,415,357$2,900,689$2,550,653$3,726,507
65$4,815,460$2,992,559$2,585,835$3,953,598
66$5,254,789$3,087,347$2,620,613$4,199,404
67$5,737,297$3,185,146$2,654,923$4,465,704
68$6,267,336$3,286,053$2,688,698$4,754,457
69$6,849,701$3,390,166$2,721,866$5,067,820
70$7,489,676$3,497,589$2,754,353$5,408,161
71$8,193,078$3,608,427$2,786,080$5,778,091
72$8,966,321$3,722,788$2,816,962$6,180,480
73$9,816,467$3,840,786$2,846,912$6,618,487
74$10,751,298$3,962,537$2,875,835$7,095,591
75$11,779,390$4,088,160$2,903,635$7,615,618
76$12,910,187$4,217,780$2,930,207$8,182,783
77$14,154,099$4,351,524$2,955,442$8,801,724
78$15,522,593$4,489,524$2,979,225$9,477,549
79$17,028,304$4,631,917$3,001,435$10,215,880
80$18,685,153$4,778,843$3,021,945$11,022,910
81$20,508,479$4,930,447$3,040,621$11,905,456
82$22,515,184$5,086,879$3,057,321$12,871,028
83$24,723,891$5,248,294$3,071,899$13,927,892
84$27,155,118$5,414,851$3,084,199$15,085,156
85$29,831,477$5,586,715$3,094,056$16,352,850
86$32,777,879$5,764,056$3,101,299$17,742,018
87$36,021,779$5,947,050$3,105,748$19,264,830
88$39,593,423$6,135,879$3,107,213$20,934,685
89$43,526,144$6,330,729$3,105,496$22,766,347
90$47,856,669$6,531,793$3,100,389$24,776,077
91$52,625,470$6,739,272$3,091,673$26,981,788
92$57,877,143$6,953,371$3,079,119$29,403,214
93$63,660,828$7,174,302$3,062,486$32,062,093
94$70,030,676$7,402,287$3,041,523$34,982,375
95$77,046,356$7,637,550$3,015,965$38,190,443
96$84,773,621$7,880,327$2,985,537$41,715,365
97$93,284,926$8,130,859$2,949,948$45,589,165
98$102,660,113$8,389,395$2,908,895$49,847,126
99$112,987,163$8,656,193$2,862,061$54,528,121
100$124,363,026$8,931,520$2,809,114$59,674,978