Can I retire at age 57 with 2,930,000?

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 $2,930,000?

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$241,957$239,801$237,699$235,646$233,642$224,284
2 years$119,781$117,550$115,388$113,292$111,258$101,947
3 years$79,060$76,820$74,664$72,587$70,587$61,616
4 years$58,704$56,471$54,336$52,295$50,343$41,782
5 years$46,494$44,274$42,167$40,167$38,270$30,139
6 years$38,356$36,153$34,077$32,122$30,282$22,587
7 years$32,546$30,361$28,318$26,409$24,627$17,365
8 years$28,190$26,025$24,016$22,154$20,431$13,594
9 years$24,804$22,660$20,685$18,870$17,206$10,783
10 years$22,097$19,973$18,034$16,267$14,660$8,640
11 years$19,884$17,781$15,877$14,157$12,608$6,976
12 years$18,040$15,959$14,090$12,417$10,926$5,667
13 years$16,482$14,423$12,589$10,963$9,528$4,625
14 years$15,147$13,110$11,311$9,731$8,352$3,789
15 years$13,991$11,976$10,212$8,679$7,354$3,114
16 years$12,981$10,988$9,259$7,771$6,499$2,565
17 years$12,091$10,119$8,425$6,982$5,763$2,117
18 years$11,300$9,351$7,691$6,292$5,124$1,751
19 years$10,593$8,666$7,041$5,686$4,567$1,449
20 years$9,958$8,053$6,462$5,149$4,079$1,201
21 years$9,384$7,501$5,944$4,673$3,651$997
22 years$8,863$7,002$5,478$4,249$3,272$828
23 years$8,388$6,549$5,058$3,870$2,937$687
24 years$7,953$6,136$4,678$3,530$2,640$571
25 years$7,554$5,758$4,332$3,223$2,376$475
26 years$7,186$5,412$4,018$2,947$2,140$395
27 years$6,846$5,093$3,731$2,698$1,929$329
28 years$6,530$4,799$3,469$2,472$1,741$274
29 years$6,237$4,527$3,228$2,267$1,572$228
30 years$5,964$4,276$3,007$2,080$1,420$190
31 years$5,709$4,042$2,803$1,910$1,284$158
32 years$5,471$3,824$2,615$1,756$1,162$132
33 years$5,247$3,622$2,442$1,615$1,051$110
34 years$5,037$3,433$2,282$1,486$952$91
35 years$4,840$3,256$2,133$1,368$862$76
36 years$4,654$3,090$1,995$1,259$781$63
37 years$4,478$2,935$1,868$1,160$708$53
38 years$4,312$2,789$1,749$1,070$642$44
39 years$4,155$2,652$1,639$986$582$37
40 years$4,006$2,524$1,536$910$528$31
41 years$3,865$2,402$1,440$839$479$25
42 years$3,730$2,288$1,351$775$435$21
43 years$3,603$2,180$1,268$715$394$18
44 years$3,481$2,078$1,190$660$358$15
45 years$3,366$1,981$1,117$610$325$12
46 years$3,255$1,890$1,049$563$295$10
47 years$3,150$1,804$986$520$268$9
48 years$3,049$1,722$926$481$243$7
49 years$2,953$1,644$871$444$221$6
50 years$2,861$1,571$819$411$201$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,930,000, adding $4,785 every year, while hoping to spend $46,868 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: 60/33/7 Blend
56$2,930,000$2,930,000$2,930,000$2,930,000
57$3,233,796$3,078,506$3,033,091$3,422,908
58$3,513,776$3,179,485$3,084,832$3,651,098
59$3,820,743$3,283,842$3,136,736$3,894,070
60$4,157,400$3,391,692$3,188,758$4,157,895
61$4,526,725$3,503,155$3,240,852$4,444,580
62$4,931,998$3,618,356$3,292,967$4,756,333
63$5,376,830$3,737,424$3,345,049$5,095,583
64$5,865,200$3,860,491$3,397,042$5,465,004
65$6,401,492$3,987,697$3,448,885$5,867,536
66$6,990,534$4,119,184$3,500,513$6,306,419
67$7,637,646$4,255,101$3,551,857$6,785,214
68$8,348,686$4,395,601$3,602,844$7,307,845
69$9,130,110$4,540,844$3,653,398$7,878,629
70$9,989,030$4,690,994$3,703,435$8,502,321
71$10,933,281$4,846,223$3,752,870$9,184,153
72$11,971,495$5,006,707$3,801,610$9,929,888
73$13,113,181$5,172,629$3,849,558$10,745,871
74$14,368,818$5,344,181$3,896,611$11,639,087
75$15,749,950$5,521,558$3,942,660$12,617,232
76$17,269,297$5,704,966$3,987,591$13,688,776
77$18,940,871$5,894,615$4,031,281$14,863,052
78$20,780,114$6,090,726$4,073,603$16,150,335
79$22,804,039$6,293,525$4,114,423$17,561,943
80$25,031,392$6,503,249$4,153,596$19,110,343
81$27,482,827$6,720,141$4,190,975$20,809,265
82$30,181,103$6,944,455$4,226,400$22,673,834
83$33,151,296$7,176,454$4,259,705$24,720,710
84$36,421,038$7,416,410$4,290,715$26,968,244
85$40,020,775$7,664,605$4,319,245$29,436,653
86$43,984,057$7,921,334$4,345,103$32,148,206
87$48,347,850$8,186,898$4,368,083$35,127,437
88$53,152,888$8,461,614$4,387,971$38,401,374
89$58,444,058$8,745,808$4,404,543$41,999,791
90$64,270,818$9,039,819$4,417,562$45,955,492
91$70,687,671$9,343,999$4,426,779$50,304,617
92$77,754,670$9,658,712$4,431,934$55,086,983
93$85,537,995$9,984,338$4,432,752$60,346,458
94$94,110,568$10,321,268$4,428,946$66,131,374
95$103,552,746$10,669,910$4,420,216$72,494,982
96$113,953,077$11,030,687$4,406,244$79,495,955
97$125,409,138$11,404,037$4,386,700$87,198,938
98$138,028,451$11,790,416$4,361,236$95,675,158
99$151,929,504$12,190,297$4,329,488$105,003,097
100$167,242,861$12,604,169$4,291,073$115,269,226