Can I retire at age 57 with 2,980,000?

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 $2,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$246,086$243,894$241,755$239,668$237,629$232,641
2 years$121,825$119,556$117,357$115,225$113,157$108,155
3 years$80,410$78,131$75,938$73,826$71,791$66,932
4 years$59,706$57,435$55,263$53,187$51,202$46,522
5 years$47,287$45,029$42,886$40,853$38,923$34,436
6 years$39,011$36,770$34,659$32,670$30,799$26,509
7 years$33,101$30,879$28,801$26,860$25,047$20,957
8 years$28,671$26,469$24,426$22,532$20,779$16,886
9 years$25,228$23,046$21,038$19,193$17,499$13,800
10 years$22,474$20,314$18,341$16,544$14,910$11,402
11 years$20,223$18,084$16,148$14,398$12,823$9,502
12 years$18,348$16,232$14,331$12,629$11,112$7,972
13 years$16,763$14,669$12,803$11,150$9,690$6,726
14 years$15,405$13,333$11,504$9,898$8,494$5,701
15 years$14,230$12,180$10,386$8,827$7,479$4,849
16 years$13,203$11,175$9,417$7,903$6,610$4,138
17 years$12,297$10,292$8,569$7,101$5,861$3,541
18 years$11,493$9,510$7,822$6,400$5,211$3,036
19 years$10,774$8,814$7,161$5,783$4,645$2,608
20 years$10,128$8,190$6,572$5,237$4,149$2,244
21 years$9,544$7,629$6,045$4,753$3,713$1,934
22 years$9,014$7,121$5,571$4,322$3,328$1,668
23 years$8,531$6,661$5,144$3,936$2,987$1,440
24 years$8,089$6,240$4,757$3,590$2,685$1,244
25 years$7,683$5,856$4,406$3,278$2,416$1,076
26 years$7,309$5,504$4,087$2,998$2,176$931
27 years$6,963$5,180$3,795$2,744$1,962$806
28 years$6,642$4,881$3,528$2,514$1,771$698
29 years$6,344$4,605$3,283$2,305$1,599$605
30 years$6,066$4,349$3,058$2,116$1,445$525
31 years$5,807$4,111$2,851$1,943$1,306$455
32 years$5,564$3,890$2,660$1,786$1,181$395
33 years$5,337$3,684$2,484$1,642$1,069$342
34 years$5,123$3,491$2,320$1,511$968$297
35 years$4,922$3,311$2,169$1,391$877$258
36 years$4,733$3,143$2,029$1,281$794$224
37 years$4,554$2,985$1,900$1,180$720$194
38 years$4,385$2,837$1,779$1,088$653$169
39 years$4,226$2,698$1,667$1,003$592$146
40 years$4,074$2,567$1,562$925$537$127
41 years$3,930$2,443$1,465$854$487$110
42 years$3,794$2,327$1,374$788$442$96
43 years$3,664$2,217$1,289$727$401$83
44 years$3,541$2,113$1,210$671$364$72
45 years$3,423$2,015$1,136$620$331$63
46 years$3,311$1,922$1,067$573$300$55
47 years$3,204$1,835$1,003$529$273$47
48 years$3,101$1,751$942$489$247$41
49 years$3,003$1,672$886$452$225$36
50 years$2,910$1,598$833$418$204$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $2,980,000, adding $5,467 every year, while hoping to spend $40,989 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: 44/29/27 Blend
56$2,980,000$2,980,000$2,980,000$2,980,000
57$3,289,599$3,131,659$3,085,469$3,408,343
58$3,581,526$3,241,499$3,145,220$3,603,336
59$3,901,856$3,355,346$3,205,600$3,810,234
60$4,253,443$3,473,355$3,266,584$4,033,724
61$4,639,429$3,595,685$3,328,150$4,275,375
62$5,063,279$3,722,502$3,390,271$4,536,907
63$5,528,806$3,853,977$3,452,918$4,820,215
64$6,040,213$3,990,290$3,516,059$5,127,382
65$6,602,128$4,131,628$3,579,661$5,460,701
66$7,219,652$4,278,184$3,643,686$5,822,692
67$7,898,402$4,430,161$3,708,095$6,216,130
68$8,644,569$4,587,769$3,772,847$6,644,070
69$9,464,972$4,751,227$3,837,894$7,109,871
70$10,367,123$4,920,761$3,903,187$7,617,232
71$11,359,301$5,096,609$3,968,675$8,170,224
72$12,450,625$5,279,019$4,034,301$8,773,328
73$13,651,143$5,468,245$4,100,005$9,431,479
74$14,971,927$5,664,556$4,165,722$10,150,107
75$16,425,174$5,868,230$4,231,384$10,935,194
76$18,024,325$6,079,556$4,296,918$11,793,323
77$19,784,188$6,298,836$4,362,247$12,731,746
78$21,721,081$6,526,385$4,427,288$13,758,447
79$23,852,982$6,762,529$4,491,954$14,882,220
80$26,199,703$7,007,609$4,556,150$16,112,747
81$28,783,071$7,261,980$4,619,780$17,460,693
82$31,627,139$7,526,012$4,682,737$18,937,805
83$34,758,410$7,800,090$4,744,912$20,557,019
84$38,206,088$8,084,614$4,806,186$22,332,586
85$42,002,352$8,380,003$4,866,437$24,280,201
86$46,182,661$8,686,692$4,925,531$26,417,153
87$50,786,087$9,005,136$4,983,332$28,762,489
88$55,855,687$9,335,806$5,039,692$31,337,186
89$61,438,902$9,679,195$5,094,457$34,164,357
90$67,588,012$10,035,818$5,147,463$37,269,462
91$74,360,625$10,406,209$5,198,539$40,680,548
92$81,820,222$10,790,926$5,247,503$44,428,516
93$90,036,754$11,190,551$5,294,164$48,547,407
94$99,087,304$11,605,690$5,338,320$53,074,726
95$109,056,816$12,036,975$5,379,760$58,051,793
96$120,038,889$12,485,065$5,418,260$63,524,133
97$132,136,670$12,950,647$5,453,586$69,541,901
98$145,463,819$13,434,438$5,485,490$76,160,360
99$160,145,588$13,937,184$5,513,713$83,440,395
100$176,319,998$14,459,666$5,537,982$91,449,093