Can I retire at age 57 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$201,493$199,698$197,947$196,238$194,569$186,776
2 years$99,749$97,891$96,091$94,345$92,652$84,898
3 years$65,839$63,973$62,177$60,448$58,782$51,312
4 years$48,887$47,027$45,249$43,549$41,924$34,794
5 years$38,719$36,870$35,115$33,450$31,870$25,099
6 years$31,942$30,107$28,378$26,750$25,218$18,809
7 years$27,103$25,284$23,582$21,993$20,509$14,461
8 years$23,476$21,673$20,000$18,449$17,014$11,320
9 years$20,656$18,870$17,226$15,715$14,328$8,980
10 years$18,402$16,633$15,018$13,546$12,208$7,195
11 years$16,558$14,807$13,221$11,789$10,500$5,809
12 years$15,023$13,290$11,734$10,341$9,099$4,719
13 years$13,725$12,011$10,483$9,129$7,934$3,851
14 years$12,614$10,917$9,419$8,104$6,955$3,155
15 years$11,651$9,973$8,504$7,227$6,124$2,593
16 years$10,810$9,150$7,710$6,471$5,412$2,136
17 years$10,069$8,427$7,016$5,814$4,799$1,763
18 years$9,410$7,787$6,405$5,240$4,267$1,458
19 years$8,822$7,217$5,863$4,735$3,803$1,207
20 years$8,293$6,706$5,381$4,288$3,397$1,000
21 years$7,815$6,247$4,950$3,892$3,040$830
22 years$7,381$5,831$4,562$3,539$2,725$689
23 years$6,985$5,454$4,212$3,223$2,446$573
24 years$6,623$5,110$3,895$2,939$2,199$476
25 years$6,291$4,795$3,608$2,684$1,978$396
26 years$5,984$4,507$3,346$2,454$1,782$329
27 years$5,701$4,241$3,107$2,247$1,607$274
28 years$5,438$3,997$2,889$2,058$1,450$228
29 years$5,194$3,770$2,688$1,888$1,309$190
30 years$4,967$3,561$2,504$1,732$1,183$158
31 years$4,754$3,366$2,334$1,591$1,069$132
32 years$4,556$3,185$2,178$1,462$967$110
33 years$4,370$3,016$2,033$1,345$875$91
34 years$4,195$2,859$1,900$1,237$793$76
35 years$4,030$2,711$1,776$1,139$718$63
36 years$3,875$2,573$1,662$1,049$650$53
37 years$3,729$2,444$1,555$966$590$44
38 years$3,591$2,323$1,457$891$534$37
39 years$3,460$2,209$1,365$821$485$31
40 years$3,336$2,102$1,279$758$440$25
41 years$3,218$2,000$1,199$699$399$21
42 years$3,106$1,905$1,125$645$362$18
43 years$3,000$1,815$1,056$595$328$15
44 years$2,899$1,730$991$550$298$12
45 years$2,803$1,650$930$508$271$10
46 years$2,711$1,574$874$469$246$9
47 years$2,623$1,502$821$433$223$7
48 years$2,539$1,434$772$400$203$6
49 years$2,459$1,369$725$370$184$5
50 years$2,382$1,308$682$342$167$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,440,000, adding $6,318 every year, while hoping to spend $40,166 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: 38/49/13 Blend
56$2,440,000$2,440,000$2,440,000$2,440,000
57$2,695,397$2,566,077$2,528,257$2,786,960
58$2,927,591$2,649,078$2,570,217$2,935,801
59$3,182,123$2,734,801$2,612,237$3,092,187
60$3,461,228$2,823,335$2,654,276$3,260,314
61$3,767,370$2,914,775$2,696,291$3,441,256
62$4,103,261$3,009,218$2,738,236$3,636,193
63$4,471,889$3,106,765$2,780,062$3,846,421
64$4,876,545$3,207,519$2,821,717$4,073,366
65$5,320,854$3,311,589$2,863,146$4,318,593
66$5,808,810$3,419,086$2,904,290$4,583,824
67$6,344,812$3,530,125$2,945,088$4,870,953
68$6,933,707$3,644,825$2,985,472$5,182,061
69$7,580,833$3,763,310$3,025,374$5,519,438
70$8,292,073$3,885,707$3,064,719$5,885,603
71$9,073,906$4,012,148$3,103,428$6,283,328
72$9,933,472$4,142,771$3,141,420$6,715,660
73$10,878,635$4,277,715$3,178,607$7,185,955
74$11,918,061$4,417,129$3,214,895$7,697,905
75$13,061,297$4,561,162$3,250,188$8,255,571
76$14,318,863$4,709,972$3,284,383$8,863,426
77$15,702,348$4,863,722$3,317,370$9,526,393
78$17,224,521$5,022,578$3,349,036$10,249,890
79$18,899,453$5,186,715$3,379,260$11,039,881
80$20,742,646$5,356,313$3,407,914$11,902,934
81$22,771,181$5,531,557$3,434,864$12,846,281
82$25,003,879$5,712,642$3,459,970$13,877,883
83$27,461,479$5,899,765$3,483,083$15,006,506
84$30,166,832$6,093,135$3,504,048$16,241,806
85$33,145,115$6,292,965$3,522,700$17,594,415
86$36,424,072$6,499,476$3,538,866$19,076,041
87$40,034,275$6,712,898$3,552,366$20,699,580
88$44,009,410$6,933,469$3,563,009$22,479,235
89$48,386,596$7,161,435$3,570,595$24,430,650
90$53,206,733$7,397,049$3,574,914$26,571,056
91$58,514,892$7,640,577$3,575,747$28,919,432
92$64,360,738$7,892,292$3,572,861$31,496,686
93$70,798,995$8,152,477$3,566,014$34,325,847
94$77,889,969$8,421,424$3,554,951$37,432,287
95$85,700,110$8,699,439$3,539,407$40,843,951
96$94,302,645$8,986,835$3,519,101$44,591,630
97$103,778,264$9,283,939$3,493,740$48,709,241
98$114,215,884$9,591,089$3,463,017$53,234,152
99$125,713,487$9,908,635$3,426,611$58,207,530
100$138,379,043$10,236,939$3,384,183$63,674,732