Can I retire at age 57 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$234,525$232,436$230,397$228,408$226,466$220,099
2 years$116,101$113,939$111,843$109,812$107,841$101,475
3 years$76,632$74,460$72,370$70,357$68,419$62,253
4 years$56,901$54,736$52,667$50,689$48,797$42,879
5 years$45,066$42,914$40,872$38,934$37,094$31,440
6 years$37,178$35,042$33,030$31,136$29,352$23,966
7 years$31,546$29,429$27,448$25,598$23,871$18,755
8 years$27,324$25,226$23,278$21,474$19,803$14,953
9 years$24,042$21,964$20,050$18,291$16,677$12,089
10 years$21,418$19,360$17,480$15,767$14,210$9,877
11 years$19,273$17,235$15,389$13,722$12,221$8,137
12 years$17,486$15,469$13,657$12,036$10,590$6,747
13 years$15,975$13,980$12,202$10,626$9,235$5,624
14 years$14,682$12,707$10,963$9,433$8,095$4,708
15 years$13,561$11,608$9,899$8,412$7,128$3,955
16 years$12,582$10,650$8,974$7,532$6,300$3,332
17 years$11,719$9,808$8,166$6,768$5,586$2,814
18 years$10,953$9,063$7,455$6,099$4,966$2,381
19 years$10,268$8,400$6,825$5,511$4,427$2,018
20 years$9,652$7,806$6,263$4,991$3,954$1,713
21 years$9,096$7,271$5,761$4,530$3,538$1,456
22 years$8,591$6,787$5,310$4,119$3,172$1,238
23 years$8,131$6,348$4,903$3,751$2,847$1,054
24 years$7,709$5,947$4,534$3,421$2,559$898
25 years$7,322$5,581$4,199$3,124$2,303$766
26 years$6,965$5,245$3,895$2,857$2,074$653
27 years$6,635$4,937$3,617$2,615$1,870$557
28 years$6,330$4,652$3,362$2,396$1,687$476
29 years$6,046$4,388$3,129$2,197$1,524$406
30 years$5,781$4,144$2,914$2,016$1,377$347
31 years$5,534$3,918$2,717$1,852$1,245$296
32 years$5,303$3,707$2,535$1,702$1,126$253
33 years$5,086$3,511$2,367$1,565$1,019$216
34 years$4,882$3,327$2,211$1,440$923$185
35 years$4,691$3,156$2,068$1,326$836$158
36 years$4,511$2,995$1,934$1,221$757$135
37 years$4,340$2,845$1,810$1,125$686$116
38 years$4,179$2,704$1,695$1,037$622$99
39 years$4,027$2,571$1,588$956$564$84
40 years$3,883$2,446$1,489$882$512$72
41 years$3,746$2,328$1,396$813$464$62
42 years$3,616$2,217$1,309$751$421$53
43 years$3,492$2,113$1,229$693$382$45
44 years$3,374$2,014$1,153$640$347$39
45 years$3,262$1,920$1,083$591$315$33
46 years$3,155$1,832$1,017$546$286$28
47 years$3,053$1,748$956$504$260$24
48 years$2,955$1,669$898$466$236$21
49 years$2,862$1,594$844$431$214$18
50 years$2,773$1,522$794$398$195$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,840,000, adding $6,162 every year, while hoping to spend $41,754 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: 76/6/18 Blend
56$2,840,000$2,840,000$2,840,000$2,840,000
57$3,136,036$2,985,516$2,941,496$3,361,058
58$3,411,486$3,087,380$2,995,610$3,612,623
59$3,713,632$3,192,837$3,050,138$3,882,579
60$4,045,154$3,302,017$3,105,049$4,177,447
61$4,409,002$3,415,058$3,160,310$4,499,700
62$4,808,426$3,532,102$3,215,887$4,852,065
63$5,247,008$3,653,297$3,271,741$5,237,541
64$5,728,690$3,778,797$3,327,832$5,659,435
65$6,257,819$3,908,760$3,384,117$6,121,387
66$6,839,180$4,043,353$3,440,548$6,627,408
67$7,478,046$4,182,747$3,497,077$7,181,916
68$8,180,227$4,327,122$3,553,649$7,789,778
69$8,952,122$4,476,662$3,610,208$8,456,354
70$9,800,782$4,631,562$3,666,693$9,187,551
71$10,733,975$4,792,022$3,723,040$9,989,876
72$11,760,259$4,958,250$3,779,181$10,870,497
73$12,889,064$5,130,462$3,835,042$11,837,311
74$14,130,778$5,308,885$3,890,546$12,899,020
75$15,496,849$5,493,752$3,945,611$14,065,210
76$16,999,888$5,685,306$4,000,149$15,346,442
77$18,653,791$5,883,801$4,054,069$16,754,355
78$20,473,870$6,089,499$4,107,272$18,301,770
79$22,476,995$6,302,675$4,159,656$20,002,814
80$24,681,755$6,523,612$4,211,110$21,873,054
81$27,108,631$6,752,606$4,261,520$23,929,641
82$29,780,193$6,989,965$4,310,762$26,191,475
83$32,721,308$7,236,009$4,358,708$28,679,378
84$35,959,378$7,491,070$4,405,222$31,416,296
85$39,524,597$7,755,495$4,450,159$34,427,512
86$43,450,235$8,029,644$4,493,369$37,740,885
87$47,772,954$8,313,891$4,534,692$41,387,115
88$52,533,150$8,608,626$4,573,958$45,400,027
89$57,775,338$8,914,255$4,610,992$49,816,896
90$63,548,568$9,231,200$4,645,607$54,678,797
91$69,906,893$9,559,900$4,677,605$60,030,989
92$76,909,872$9,900,811$4,706,781$65,923,345
93$84,623,139$10,254,410$4,732,918$72,410,825
94$93,119,015$10,621,192$4,755,787$79,553,989
95$102,477,196$11,001,672$4,775,147$87,419,572
96$112,785,503$11,396,388$4,790,748$96,081,113
97$124,140,710$11,805,896$4,802,324$105,619,647
98$136,649,458$12,230,780$4,809,596$116,124,474
99$150,429,259$12,671,644$4,812,274$127,693,997
100$165,609,608$13,129,120$4,810,051$140,436,655