Can I retire at age 57 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$184,977$183,329$181,722$180,153$178,621$176,682
2 years$91,573$89,867$88,215$86,612$85,057$83,105
3 years$60,442$58,729$57,081$55,493$53,964$52,059
4 years$44,880$43,172$41,540$39,980$38,488$36,645
5 years$35,545$33,848$32,237$30,708$29,258$27,482
6 years$29,324$27,639$26,052$24,558$23,151$21,444
7 years$24,882$23,211$21,649$20,190$18,828$17,192
8 years$21,552$19,896$18,360$16,937$15,619$14,053
9 years$18,963$17,323$15,814$14,427$13,154$11,657
10 years$16,893$15,270$13,787$12,436$11,208$9,780
11 years$15,201$13,594$12,138$10,823$9,639$8,279
12 years$13,792$12,201$10,772$9,493$8,353$7,058
13 years$12,600$11,026$9,624$8,381$7,284$6,054
14 years$11,580$10,022$8,647$7,440$6,385$5,218
15 years$10,696$9,156$7,807$6,635$5,622$4,515
16 years$9,924$8,400$7,078$5,941$4,969$3,921
17 years$9,243$7,736$6,441$5,338$4,406$3,415
18 years$8,639$7,149$5,880$4,810$3,917$2,982
19 years$8,099$6,625$5,383$4,347$3,491$2,609
20 years$7,613$6,157$4,940$3,937$3,119$2,287
21 years$7,174$5,735$4,544$3,573$2,791$2,008
22 years$6,776$5,353$4,188$3,249$2,502$1,765
23 years$6,413$5,007$3,867$2,959$2,246$1,554
24 years$6,080$4,691$3,576$2,698$2,018$1,370
25 years$5,775$4,402$3,312$2,464$1,816$1,208
26 years$5,494$4,137$3,072$2,253$1,636$1,066
27 years$5,234$3,894$2,853$2,062$1,475$942
28 years$4,992$3,669$2,652$1,890$1,331$833
29 years$4,768$3,461$2,468$1,733$1,202$736
30 years$4,560$3,269$2,299$1,590$1,086$652
31 years$4,365$3,090$2,143$1,461$982$577
32 years$4,182$2,924$1,999$1,342$888$511
33 years$4,012$2,769$1,867$1,234$804$452
34 years$3,851$2,624$1,744$1,136$728$401
35 years$3,700$2,489$1,631$1,045$659$355
36 years$3,558$2,363$1,526$963$597$315
37 years$3,423$2,244$1,428$887$541$279
38 years$3,296$2,132$1,337$818$491$248
39 years$3,176$2,028$1,253$754$445$220
40 years$3,062$1,929$1,174$695$404$195
41 years$2,954$1,836$1,101$642$366$173
42 years$2,852$1,749$1,033$592$332$153
43 years$2,754$1,666$969$547$302$136
44 years$2,661$1,588$910$505$274$121
45 years$2,573$1,515$854$466$248$107
46 years$2,489$1,445$802$431$226$95
47 years$2,408$1,379$754$398$205$85
48 years$2,331$1,316$708$368$186$75
49 years$2,257$1,257$666$340$169$67
50 years$2,187$1,201$626$314$153$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,240,000, adding $3,574 every year, while hoping to spend $35,008 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: 73/5/22 Blend
56$2,240,000$2,240,000$2,240,000$2,240,000
57$2,472,167$2,353,447$2,318,727$2,639,096
58$2,687,079$2,431,517$2,359,156$2,828,721
59$2,922,740$2,512,240$2,399,766$3,031,867
60$3,181,227$2,595,708$2,440,526$3,253,558
61$3,464,832$2,682,017$2,481,404$3,495,633
62$3,776,077$2,771,268$2,522,363$3,760,120
63$4,117,741$2,863,564$2,563,365$4,049,250
64$4,492,884$2,959,012$2,604,372$4,365,483
65$4,904,879$3,057,724$2,645,339$4,711,527
66$5,357,439$3,159,815$2,686,220$5,090,367
67$5,854,656$3,265,405$2,726,967$5,505,288
68$6,401,039$3,374,618$2,767,528$5,959,912
69$7,001,553$3,487,582$2,807,848$6,458,229
70$7,661,668$3,604,430$2,847,868$7,004,633
71$8,387,414$3,725,302$2,887,527$7,603,966
72$9,185,429$3,850,341$2,926,758$8,261,564
73$10,063,030$3,979,696$2,965,492$8,983,303
74$11,028,279$4,113,520$3,003,656$9,775,661
75$12,090,056$4,251,975$3,041,170$10,645,772
76$13,258,146$4,395,226$3,077,954$11,601,498
77$14,543,330$4,543,446$3,113,919$12,651,502
78$15,957,489$4,696,814$3,148,974$13,805,329
79$17,513,710$4,855,515$3,183,022$15,073,496
80$19,226,415$5,019,741$3,215,960$16,467,591
81$21,111,494$5,189,694$3,247,680$18,000,383
82$23,186,457$5,365,580$3,278,068$19,685,945
83$25,470,597$5,547,614$3,307,004$21,539,779
84$27,985,171$5,736,020$3,334,362$23,578,970
85$30,753,603$5,931,030$3,360,008$25,822,344
86$33,801,705$6,132,885$3,383,803$28,290,646
87$37,157,918$6,341,835$3,405,598$31,006,736
88$40,853,580$6,558,139$3,425,240$33,995,802
89$44,923,224$6,782,067$3,442,565$37,285,603
90$49,404,903$7,013,899$3,457,401$40,906,726
91$54,340,548$7,253,925$3,469,569$44,892,878
92$59,776,364$7,502,447$3,478,879$49,281,201
93$65,763,265$7,759,779$3,485,134$54,112,626
94$72,357,356$8,026,246$3,488,123$59,432,257
95$79,620,460$8,302,186$3,487,630$65,289,797
96$87,620,705$8,587,951$3,483,423$71,740,018
97$96,433,162$8,883,906$3,475,263$78,843,276
98$106,140,556$9,190,429$3,462,896$86,666,083
99$116,834,048$9,507,915$3,446,059$95,281,735
100$128,614,092$9,836,774$3,424,472$104,771,002