Can I retire at age 57 with 2,970,000?

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 $2,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$245,260$243,075$240,944$238,863$236,832$229,159
2 years$121,416$119,154$116,963$114,838$112,777$105,119
3 years$80,140$77,869$75,683$73,578$71,550$64,147
4 years$59,506$57,242$55,078$53,009$51,030$43,939
5 years$47,129$44,878$42,743$40,716$38,792$32,031
6 years$38,880$36,646$34,542$32,561$30,695$24,270
7 years$32,990$30,776$28,705$26,770$24,963$18,874
8 years$28,575$26,380$24,344$22,457$20,710$14,951
9 years$25,143$22,969$20,967$19,128$17,440$12,007
10 years$22,399$20,246$18,280$16,489$14,860$9,743
11 years$20,155$18,024$16,093$14,350$12,780$7,969
12 years$18,286$16,177$14,282$12,587$11,075$6,560
13 years$16,707$14,619$12,760$11,112$9,658$5,428
14 years$15,354$13,289$11,465$9,864$8,466$4,509
15 years$14,182$12,139$10,352$8,797$7,454$3,759
16 years$13,158$11,138$9,385$7,877$6,588$3,142
17 years$12,256$10,257$8,540$7,077$5,841$2,632
18 years$11,454$9,478$7,796$6,378$5,194$2,209
19 years$10,738$8,784$7,137$5,763$4,629$1,857
20 years$10,094$8,163$6,550$5,220$4,135$1,563
21 years$9,512$7,603$6,025$4,737$3,700$1,317
22 years$8,984$7,098$5,553$4,307$3,317$1,111
23 years$8,503$6,638$5,127$3,923$2,977$937
24 years$8,062$6,220$4,742$3,578$2,676$792
25 years$7,657$5,837$4,392$3,267$2,408$669
26 years$7,284$5,486$4,073$2,987$2,169$565
27 years$6,939$5,163$3,782$2,735$1,956$478
28 years$6,619$4,865$3,516$2,505$1,765$405
29 years$6,322$4,589$3,272$2,298$1,593$342
30 years$6,046$4,334$3,048$2,109$1,440$290
31 years$5,787$4,097$2,841$1,937$1,302$245
32 years$5,545$3,877$2,651$1,780$1,177$208
33 years$5,319$3,671$2,475$1,637$1,066$176
34 years$5,106$3,480$2,313$1,506$965$149
35 years$4,906$3,300$2,162$1,386$874$126
36 years$4,717$3,132$2,023$1,277$792$107
37 years$4,539$2,975$1,893$1,176$718$91
38 years$4,371$2,827$1,773$1,084$651$77
39 years$4,211$2,689$1,661$1,000$590$65
40 years$4,060$2,558$1,557$922$535$55
41 years$3,917$2,435$1,460$851$485$47
42 years$3,781$2,319$1,369$785$441$40
43 years$3,652$2,210$1,285$725$400$33
44 years$3,529$2,106$1,206$669$363$28
45 years$3,411$2,008$1,133$618$329$24
46 years$3,300$1,916$1,064$571$299$20
47 years$3,193$1,828$999$527$272$17
48 years$3,091$1,745$939$487$247$15
49 years$2,993$1,667$883$450$224$12
50 years$2,900$1,592$830$416$203$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,970,000, adding $2,332 every year, while hoping to spend $21,850 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: 77/17/6 Blend
56$2,970,000$2,970,000$2,970,000$2,970,000
57$3,275,345$3,117,935$3,071,900$3,525,558
58$3,586,182$3,247,466$3,151,561$3,819,634
59$3,927,993$3,382,611$3,233,158$4,138,899
60$4,303,912$3,523,623$3,316,732$4,488,278
61$4,717,396$3,670,766$3,402,328$4,870,753
62$5,172,251$3,824,314$3,489,987$5,289,605
63$5,672,673$3,984,558$3,579,754$5,748,450
64$6,223,283$4,151,798$3,671,672$6,251,264
65$6,829,172$4,326,351$3,765,788$6,802,428
66$7,495,953$4,508,547$3,862,147$7,406,765
67$8,229,806$4,698,733$3,960,796$8,069,585
68$9,037,545$4,897,269$4,061,781$8,796,737
69$9,926,674$5,104,535$4,165,150$9,594,659
70$10,905,465$5,320,927$4,270,952$10,470,444
71$11,983,029$5,546,859$4,379,236$11,431,900
72$13,169,409$5,782,767$4,490,052$12,487,629
73$14,475,670$6,029,103$4,603,449$13,647,105
74$15,914,003$6,286,343$4,719,479$14,920,760
75$17,497,843$6,554,986$4,838,194$16,320,087
76$19,241,994$6,835,551$4,959,644$17,857,744
77$21,162,768$7,128,584$5,083,883$19,547,672
78$23,278,142$7,434,656$5,210,964$21,405,231
79$25,607,922$7,754,364$5,340,941$23,447,336
80$28,173,934$8,088,332$5,473,867$25,692,625
81$31,000,232$8,437,216$5,609,798$28,161,626
82$34,113,317$8,801,701$5,748,787$30,876,953
83$37,542,395$9,182,505$5,890,892$33,863,521
84$41,319,649$9,580,377$6,036,166$37,148,774
85$45,480,542$9,996,105$6,184,667$40,762,950
86$50,064,155$10,430,512$6,336,451$44,739,359
87$55,113,552$10,884,459$6,491,575$49,114,701
88$60,676,186$11,358,850$6,650,095$53,929,406
89$66,804,353$11,854,629$6,812,069$59,228,022
90$73,555,677$12,372,786$6,977,553$65,059,625
91$80,993,660$12,914,357$7,146,605$71,478,289
92$89,188,280$13,480,427$7,319,283$78,543,588
93$98,216,649$14,072,133$7,495,644$86,321,162
94$108,163,743$14,690,663$7,675,744$94,883,332
95$119,123,204$15,337,265$7,859,641$104,309,784
96$131,198,224$16,013,243$8,047,391$114,688,316
97$144,502,515$16,719,965$8,239,051$126,115,665
98$159,161,390$17,458,861$8,434,677$138,698,423
99$175,312,937$18,231,431$8,634,325$152,554,035
100$193,109,331$19,039,246$8,838,049$167,811,909