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%14%
1 years$246,086$243,894$241,755$239,668$237,629$233,693
2 years$121,825$119,556$117,357$115,225$113,157$109,202
3 years$80,410$78,131$75,938$73,826$71,791$67,942
4 years$59,706$57,435$55,263$53,187$51,202$47,487
5 years$47,287$45,029$42,886$40,853$38,923$35,354
6 years$39,011$36,770$34,659$32,670$30,799$27,379
7 years$33,101$30,879$28,801$26,860$25,047$21,778
8 years$28,671$26,469$24,426$22,532$20,779$17,660
9 years$25,228$23,046$21,038$19,193$17,499$14,528
10 years$22,474$20,314$18,341$16,544$14,910$12,085
11 years$20,223$18,084$16,148$14,398$12,823$10,141
12 years$18,348$16,232$14,331$12,629$11,112$8,569
13 years$16,763$14,669$12,803$11,150$9,690$7,283
14 years$15,405$13,333$11,504$9,898$8,494$6,218
15 years$14,230$12,180$10,386$8,827$7,479$5,330
16 years$13,203$11,175$9,417$7,903$6,610$4,584
17 years$12,297$10,292$8,569$7,101$5,861$3,953
18 years$11,493$9,510$7,822$6,400$5,211$3,417
19 years$10,774$8,814$7,161$5,783$4,645$2,959
20 years$10,128$8,190$6,572$5,237$4,149$2,567
21 years$9,544$7,629$6,045$4,753$3,713$2,231
22 years$9,014$7,121$5,571$4,322$3,328$1,940
23 years$8,531$6,661$5,144$3,936$2,987$1,690
24 years$8,089$6,240$4,757$3,590$2,685$1,473
25 years$7,683$5,856$4,406$3,278$2,416$1,285
26 years$7,309$5,504$4,087$2,998$2,176$1,122
27 years$6,963$5,180$3,795$2,744$1,962$980
28 years$6,642$4,881$3,528$2,514$1,771$856
29 years$6,344$4,605$3,283$2,305$1,599$749
30 years$6,066$4,349$3,058$2,116$1,445$655
31 years$5,807$4,111$2,851$1,943$1,306$573
32 years$5,564$3,890$2,660$1,786$1,181$502
33 years$5,337$3,684$2,484$1,642$1,069$439
34 years$5,123$3,491$2,320$1,511$968$385
35 years$4,922$3,311$2,169$1,391$877$337
36 years$4,733$3,143$2,029$1,281$794$295
37 years$4,554$2,985$1,900$1,180$720$259
38 years$4,385$2,837$1,779$1,088$653$227
39 years$4,226$2,698$1,667$1,003$592$199
40 years$4,074$2,567$1,562$925$537$174
41 years$3,930$2,443$1,465$854$487$153
42 years$3,794$2,327$1,374$788$442$134
43 years$3,664$2,217$1,289$727$401$117
44 years$3,541$2,113$1,210$671$364$103
45 years$3,423$2,015$1,136$620$331$90
46 years$3,311$1,922$1,067$573$300$79
47 years$3,204$1,835$1,003$529$273$69
48 years$3,101$1,751$942$489$247$61
49 years$3,003$1,672$886$452$225$53
50 years$2,910$1,598$833$418$204$47

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 $5,647 every year, while hoping to spend $56,469 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: 64/17/19 Blend
56$2,980,000$2,980,000$2,980,000$2,980,000
57$3,289,785$3,131,845$3,085,655$3,484,170
58$3,565,260$3,225,223$3,128,942$3,708,881
59$3,866,942$3,321,283$3,171,786$3,947,345
60$4,197,442$3,420,099$3,214,114$4,206,530
61$4,559,640$3,521,743$3,255,845$4,488,463
62$4,956,705$3,626,290$3,296,898$4,795,377
63$5,392,129$3,733,817$3,337,183$5,129,729
64$5,869,755$3,844,403$3,376,608$5,494,229
65$6,393,819$3,958,128$3,415,074$5,891,857
66$6,968,987$4,075,075$3,452,476$6,325,899
67$7,600,396$4,195,326$3,488,707$6,799,972
68$8,293,706$4,318,967$3,523,649$7,318,060
69$9,055,154$4,446,086$3,557,181$7,884,554
70$9,891,607$4,576,772$3,589,174$8,504,288
71$10,810,633$4,711,115$3,619,493$9,182,589
72$11,820,567$4,849,209$3,647,995$9,925,325
73$12,930,592$4,991,148$3,674,530$10,738,960
74$14,150,826$5,137,028$3,698,941$11,630,616
75$15,492,416$5,286,947$3,721,061$12,608,139
76$16,967,641$5,441,007$3,740,715$13,680,175
77$18,590,031$5,599,307$3,757,720$14,856,248
78$20,374,494$5,761,953$3,771,883$16,146,853
79$22,337,453$5,929,048$3,783,001$17,563,551
80$24,497,003$6,100,702$3,790,862$19,119,084
81$26,873,083$6,277,022$3,795,241$20,827,488
82$29,487,661$6,458,120$3,795,905$22,704,232
83$32,364,942$6,644,107$3,792,608$24,766,359
84$35,531,595$6,835,098$3,785,090$27,032,648
85$39,017,009$7,031,209$3,773,081$29,523,794
86$42,853,563$7,232,556$3,756,298$32,262,599
87$47,076,934$7,439,260$3,734,442$35,274,189
88$51,726,437$7,651,440$3,707,202$38,586,251
89$56,845,391$7,869,217$3,674,250$42,229,297
90$62,481,528$8,092,716$3,635,245$46,236,944
91$68,687,445$8,322,060$3,589,827$50,646,242
92$75,521,099$8,557,376$3,537,620$55,498,015
93$83,046,353$8,798,789$3,478,232$60,837,250
94$91,333,579$9,046,427$3,411,251$66,713,522
95$100,460,321$9,300,420$3,336,246$73,181,459
96$110,512,029$9,560,896$3,252,765$80,301,263
97$121,582,861$9,827,985$3,160,338$88,139,271
98$133,776,574$10,101,817$3,058,470$96,768,590
99$147,207,502$10,382,523$2,946,646$106,269,778
100$162,001,635$10,670,234$2,824,326$116,731,612