Can I retire at age 57 with 2,960,000?

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 $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$244,434$242,257$240,132$238,059$236,035$234,351
2 years$121,007$118,753$116,569$114,451$112,397$110,699
3 years$79,870$77,607$75,428$73,330$71,310$69,650
4 years$59,306$57,049$54,892$52,830$50,859$49,250
5 years$46,970$44,727$42,599$40,579$38,662$37,110
6 years$38,749$36,523$34,426$32,451$30,592$29,098
7 years$32,879$30,672$28,608$26,680$24,879$23,444
8 years$28,479$26,292$24,262$22,381$20,640$19,263
9 years$25,058$22,892$20,897$19,064$17,382$16,063
10 years$22,323$20,178$18,218$16,433$14,810$13,549
11 years$20,087$17,963$16,039$14,302$12,737$11,533
12 years$18,225$16,123$14,234$12,545$11,038$9,889
13 years$16,650$14,570$12,717$11,075$9,625$8,531
14 years$15,302$13,244$11,427$9,831$8,437$7,397
15 years$14,135$12,099$10,317$8,768$7,429$6,440
16 years$13,114$11,100$9,354$7,850$6,566$5,627
17 years$12,214$10,223$8,511$7,054$5,822$4,931
18 years$11,416$9,446$7,770$6,357$5,176$4,333
19 years$10,702$8,755$7,113$5,744$4,614$3,816
20 years$10,060$8,135$6,528$5,202$4,121$3,367
21 years$9,480$7,578$6,004$4,721$3,688$2,976
22 years$8,954$7,074$5,534$4,293$3,306$2,635
23 years$8,474$6,616$5,110$3,909$2,967$2,335
24 years$8,035$6,199$4,726$3,566$2,667$2,072
25 years$7,631$5,817$4,377$3,256$2,400$1,841
26 years$7,260$5,467$4,059$2,977$2,162$1,636
27 years$6,916$5,145$3,769$2,725$1,949$1,456
28 years$6,597$4,848$3,504$2,497$1,759$1,296
29 years$6,301$4,574$3,261$2,290$1,588$1,155
30 years$6,025$4,319$3,037$2,101$1,435$1,029
31 years$5,768$4,083$2,832$1,930$1,297$918
32 years$5,527$3,864$2,642$1,774$1,173$819
33 years$5,301$3,659$2,467$1,631$1,062$731
34 years$5,089$3,468$2,305$1,501$962$652
35 years$4,889$3,289$2,155$1,382$871$583
36 years$4,701$3,122$2,016$1,272$789$520
37 years$4,524$2,965$1,887$1,172$715$465
38 years$4,356$2,818$1,767$1,081$648$415
39 years$4,197$2,680$1,655$996$588$371
40 years$4,047$2,549$1,552$919$533$332
41 years$3,904$2,427$1,455$848$484$297
42 years$3,769$2,311$1,365$782$439$265
43 years$3,640$2,202$1,281$722$398$237
44 years$3,517$2,099$1,202$667$362$212
45 years$3,400$2,002$1,129$616$328$190
46 years$3,288$1,909$1,060$569$298$170
47 years$3,182$1,822$996$526$271$152
48 years$3,080$1,740$936$486$246$136
49 years$2,983$1,661$880$449$223$122
50 years$2,890$1,587$827$415$203$109

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,960,000, adding $5,808 every year, while hoping to spend $49,343 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: 68/10/22 Blend
56$2,960,000$2,960,000$2,960,000$2,960,000
57$3,267,911$3,111,031$3,065,151$3,471,623
58$3,548,737$3,210,971$3,115,333$3,708,732
59$3,856,554$3,314,154$3,165,542$3,961,772
60$4,194,062$3,420,687$3,215,728$4,237,413
61$4,564,237$3,530,681$3,265,835$4,537,882
62$4,970,354$3,644,250$3,315,805$4,865,633
63$5,416,024$3,761,511$3,365,578$5,223,370
64$5,905,220$3,882,587$3,415,087$5,614,069
65$6,442,322$4,007,604$3,464,262$6,041,010
66$7,032,154$4,136,691$3,513,030$6,507,804
67$7,680,029$4,269,985$3,561,312$7,018,429
68$8,391,802$4,407,623$3,609,025$7,577,268
69$9,173,920$4,549,751$3,656,082$8,189,149
70$10,033,487$4,696,517$3,702,388$8,859,389
71$10,978,332$4,848,075$3,747,847$9,593,848
72$12,017,075$5,004,584$3,792,354$10,398,980
73$13,159,218$5,166,210$3,835,798$11,281,896
74$14,415,225$5,333,121$3,878,065$12,250,432
75$15,796,629$5,505,495$3,919,031$13,313,220
76$17,316,135$5,683,514$3,958,568$14,479,768
77$18,987,739$5,867,365$3,996,539$15,760,557
78$20,826,867$6,057,244$4,032,801$17,167,132
79$22,850,510$6,253,351$4,067,202$18,712,214
80$25,077,392$6,455,896$4,099,584$20,409,819
81$27,528,145$6,665,094$4,129,779$22,275,393
82$30,225,500$6,881,167$4,157,610$24,325,952
83$33,194,503$7,104,347$4,182,893$26,580,249
84$36,462,755$7,334,872$4,205,432$29,058,946
85$40,060,663$7,572,988$4,225,021$31,784,809
86$44,021,738$7,818,952$4,241,446$34,782,928
87$48,382,901$8,073,026$4,254,481$38,080,947
88$53,184,838$8,335,485$4,263,887$41,709,329
89$58,472,379$8,606,611$4,269,414$45,701,641
90$64,294,923$8,886,698$4,270,802$50,094,872
91$70,706,906$9,176,046$4,267,774$54,929,784
92$77,768,309$9,474,971$4,260,043$60,251,292
93$85,545,227$9,783,796$4,247,306$66,108,891
94$94,110,495$10,102,856$4,229,245$72,557,123
95$103,544,370$10,432,500$4,205,529$79,656,090
96$113,935,289$10,773,086$4,175,808$87,472,025
97$125,380,708$11,124,987$4,139,717$96,077,911
98$137,988,017$11,488,588$4,096,874$105,554,177
99$151,875,553$11,864,287$4,046,877$115,989,451
100$167,173,719$12,252,497$3,989,308$127,481,400