Can I retire at age 57 with 2,420,000?

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 $2,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$199,841$198,061$196,325$194,629$192,974$191,437
2 years$98,931$97,089$95,303$93,572$91,892$90,343
3 years$65,299$63,449$61,667$59,952$58,300$56,787
4 years$48,486$46,641$44,878$43,192$41,580$40,114
5 years$38,401$36,567$34,827$33,176$31,609$30,194
6 years$31,680$29,860$28,146$26,531$25,011$23,650
7 years$26,881$25,076$23,389$21,813$20,341$19,033
8 years$23,283$21,495$19,836$18,298$16,874$15,621
9 years$20,487$18,715$17,085$15,586$14,211$13,011
10 years$18,251$16,497$14,895$13,435$12,108$10,962
11 years$16,423$14,686$13,113$11,693$10,413$9,319
12 years$14,900$13,181$11,638$10,256$9,024$7,981
13 years$13,613$11,912$10,397$9,055$7,869$6,876
14 years$12,510$10,828$9,342$8,038$6,898$5,954
15 years$11,556$9,891$8,435$7,168$6,074$5,177
16 years$10,722$9,075$7,647$6,418$5,368$4,517
17 years$9,986$8,358$6,959$5,767$4,760$3,953
18 years$9,333$7,723$6,352$5,197$4,232$3,469
19 years$8,749$7,158$5,815$4,696$3,772$3,051
20 years$8,225$6,651$5,337$4,253$3,369$2,688
21 years$7,751$6,195$4,909$3,860$3,015$2,372
22 years$7,320$5,783$4,524$3,510$2,703$2,097
23 years$6,928$5,409$4,177$3,196$2,426$1,856
24 years$6,569$5,068$3,863$2,915$2,181$1,644
25 years$6,239$4,756$3,578$2,662$1,962$1,458
26 years$5,935$4,470$3,319$2,434$1,767$1,294
27 years$5,654$4,207$3,082$2,228$1,594$1,150
28 years$5,394$3,964$2,865$2,041$1,438$1,022
29 years$5,152$3,739$2,666$1,872$1,298$909
30 years$4,926$3,531$2,483$1,718$1,173$809
31 years$4,716$3,338$2,315$1,578$1,061$720
32 years$4,519$3,159$2,160$1,450$959$641
33 years$4,334$2,991$2,017$1,334$868$571
34 years$4,160$2,835$1,884$1,227$786$509
35 years$3,997$2,689$1,762$1,129$712$454
36 years$3,844$2,552$1,648$1,040$645$405
37 years$3,698$2,424$1,543$958$585$361
38 years$3,561$2,304$1,445$883$530$322
39 years$3,432$2,191$1,353$815$481$288
40 years$3,309$2,084$1,269$751$436$257
41 years$3,192$1,984$1,190$693$396$229
42 years$3,081$1,890$1,116$640$359$204
43 years$2,976$1,800$1,047$591$326$183
44 years$2,875$1,716$983$545$296$163
45 years$2,780$1,636$923$504$268$146
46 years$2,689$1,561$867$465$244$130
47 years$2,602$1,490$814$430$221$116
48 years$2,518$1,422$765$397$201$104
49 years$2,439$1,358$719$367$183$93
50 years$2,363$1,297$676$339$166$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,420,000, adding $2,225 every year, while hoping to spend $22,746 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: 25/47/28 Blend
56$2,420,000$2,420,000$2,420,000$2,420,000
57$2,669,135$2,540,875$2,503,365$2,712,365
58$2,917,185$2,641,176$2,563,026$2,848,954
59$3,189,774$2,745,630$2,623,924$2,993,218
60$3,489,381$2,854,416$2,686,075$3,147,425
61$3,818,736$2,967,721$2,749,497$3,312,425
62$4,180,849$3,085,741$2,814,207$3,489,149
63$4,579,035$3,208,681$2,880,222$3,678,615
64$5,016,945$3,336,755$2,947,558$3,881,941
65$5,498,604$3,470,186$3,016,231$4,100,350
66$6,028,445$3,609,209$3,086,258$4,335,182
67$6,611,352$3,754,066$3,157,654$4,587,909
68$7,252,708$3,905,014$3,230,434$4,860,144
69$7,958,443$4,062,318$3,304,612$5,153,656
70$8,735,091$4,226,258$3,380,203$5,470,386
71$9,589,851$4,397,125$3,457,220$5,812,467
72$10,530,655$4,575,224$3,535,677$6,182,236
73$11,566,245$4,760,873$3,615,585$6,582,263
74$12,706,250$4,954,404$3,696,955$7,015,369
75$13,961,284$5,156,166$3,779,800$7,484,652
76$15,343,040$5,366,523$3,864,128$7,993,515
77$16,864,403$5,585,856$3,949,949$8,545,700
78$18,539,571$5,814,561$4,037,271$9,145,316
79$20,384,188$6,053,055$4,126,100$9,796,881
80$22,415,493$6,301,774$4,216,443$10,505,359
81$24,652,484$6,561,171$4,308,304$11,276,211
82$27,116,092$6,831,723$4,401,687$12,115,438
83$29,829,383$7,113,927$4,496,594$13,029,642
84$32,817,775$7,408,304$4,593,024$14,026,081
85$36,109,275$7,715,398$4,690,977$15,112,741
86$39,734,747$8,035,778$4,790,451$16,298,403
87$43,728,200$8,370,040$4,891,440$17,592,730
88$48,127,111$8,718,807$4,993,938$19,006,352
89$52,972,779$9,082,731$5,097,937$20,550,966
90$58,310,710$9,462,493$5,203,426$22,239,442
91$64,191,054$9,858,807$5,310,392$24,085,944
92$70,669,072$10,272,418$5,418,820$26,106,061
93$77,805,659$10,704,108$5,528,693$28,316,948
94$85,667,920$11,154,694$5,639,988$30,737,491
95$94,329,804$11,625,030$5,752,684$33,388,477
96$103,872,799$12,116,011$5,866,753$36,292,788
97$114,386,701$12,628,573$5,982,167$39,475,619
98$125,970,467$13,163,694$6,098,891$42,964,703
99$138,733,140$13,722,401$6,216,890$46,790,578
100$152,794,887$14,305,766$6,336,122$50,986,866