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%18.4%
1 years$246,086$243,894$241,755$239,668$237,629$229,564
2 years$121,825$119,556$117,357$115,225$113,157$105,112
3 years$80,410$78,131$75,938$73,826$71,791$64,019
4 years$59,706$57,435$55,263$53,187$51,202$43,763
5 years$47,287$45,029$42,886$40,853$38,923$31,836
6 years$39,011$36,770$34,659$32,670$30,799$24,069
7 years$33,101$30,879$28,801$26,860$25,047$18,675
8 years$28,671$26,469$24,426$22,532$20,779$14,759
9 years$25,228$23,046$21,038$19,193$17,499$11,823
10 years$22,474$20,314$18,341$16,544$14,910$9,570
11 years$20,223$18,084$16,148$14,398$12,823$7,807
12 years$18,348$16,232$14,331$12,629$11,112$6,410
13 years$16,763$14,669$12,803$11,150$9,690$5,289
14 years$15,405$13,333$11,504$9,898$8,494$4,382
15 years$14,230$12,180$10,386$8,827$7,479$3,642
16 years$13,203$11,175$9,417$7,903$6,610$3,036
17 years$12,297$10,292$8,569$7,101$5,861$2,535
18 years$11,493$9,510$7,822$6,400$5,211$2,122
19 years$10,774$8,814$7,161$5,783$4,645$1,778
20 years$10,128$8,190$6,572$5,237$4,149$1,492
21 years$9,544$7,629$6,045$4,753$3,713$1,253
22 years$9,014$7,121$5,571$4,322$3,328$1,054
23 years$8,531$6,661$5,144$3,936$2,987$886
24 years$8,089$6,240$4,757$3,590$2,685$746
25 years$7,683$5,856$4,406$3,278$2,416$629
26 years$7,309$5,504$4,087$2,998$2,176$530
27 years$6,963$5,180$3,795$2,744$1,962$446
28 years$6,642$4,881$3,528$2,514$1,771$376
29 years$6,344$4,605$3,283$2,305$1,599$318
30 years$6,066$4,349$3,058$2,116$1,445$268
31 years$5,807$4,111$2,851$1,943$1,306$226
32 years$5,564$3,890$2,660$1,786$1,181$191
33 years$5,337$3,684$2,484$1,642$1,069$161
34 years$5,123$3,491$2,320$1,511$968$136
35 years$4,922$3,311$2,169$1,391$877$115
36 years$4,733$3,143$2,029$1,281$794$97
37 years$4,554$2,985$1,900$1,180$720$82
38 years$4,385$2,837$1,779$1,088$653$69
39 years$4,226$2,698$1,667$1,003$592$58
40 years$4,074$2,567$1,562$925$537$49
41 years$3,930$2,443$1,465$854$487$42
42 years$3,794$2,327$1,374$788$442$35
43 years$3,664$2,217$1,289$727$401$30
44 years$3,541$2,113$1,210$671$364$25
45 years$3,423$2,015$1,136$620$331$21
46 years$3,311$1,922$1,067$573$300$18
47 years$3,204$1,835$1,003$529$273$15
48 years$3,101$1,751$942$489$247$13
49 years$3,003$1,672$886$452$225$11
50 years$2,910$1,598$833$418$204$9

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 $2,666 every year, while hoping to spend $36,041 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: 31/42/27 Blend
56$2,980,000$2,980,000$2,980,000$2,980,000
57$3,286,710$3,128,770$3,082,580$3,361,289
58$3,583,607$3,243,732$3,147,499$3,533,998
59$3,909,580$3,363,120$3,213,385$3,716,416
60$4,267,556$3,487,112$3,280,232$3,912,065
61$4,660,760$3,615,894$3,348,033$4,122,129
62$5,092,745$3,749,660$3,416,780$4,347,903
63$5,567,425$3,888,614$3,486,463$4,590,812
64$6,089,112$4,032,965$3,557,069$4,852,418
65$6,662,556$4,182,935$3,628,585$5,134,437
66$7,292,991$4,338,753$3,700,997$5,438,754
67$7,986,182$4,500,658$3,774,286$5,767,440
68$8,748,481$4,668,899$3,848,434$6,122,768
69$9,586,888$4,843,737$3,923,418$6,507,240
70$10,509,114$5,025,443$3,999,215$6,923,601
71$11,523,653$5,214,299$4,075,799$7,374,873
72$12,639,868$5,410,602$4,153,140$7,864,374
73$13,868,072$5,614,660$4,231,208$8,395,755
74$15,219,630$5,826,792$4,309,968$8,973,031
75$16,707,062$6,047,335$4,389,382$9,600,616
76$18,344,166$6,276,638$4,469,410$10,283,366
77$20,146,144$6,515,066$4,550,008$11,026,624
78$22,129,745$6,762,999$4,631,128$11,836,266
79$24,313,428$7,020,835$4,712,719$12,718,758
80$26,717,530$7,288,988$4,794,728$13,681,216
81$29,364,460$7,567,890$4,877,093$14,731,469
82$32,278,912$7,857,994$4,959,753$15,878,135
83$35,488,096$8,159,770$5,042,639$17,130,697
84$39,021,993$8,473,710$5,125,679$18,499,596
85$42,913,642$8,800,328$5,208,795$19,996,321
86$47,199,449$9,140,159$5,291,905$21,633,523
87$51,919,529$9,493,764$5,374,920$23,425,130
88$57,118,088$9,861,725$5,457,747$25,386,472
89$62,843,838$10,244,654$5,540,286$27,534,434
90$69,150,455$10,643,188$5,622,431$29,887,601
91$76,097,087$11,057,990$5,704,069$32,466,444
92$83,748,915$11,489,757$5,785,080$35,293,501
93$92,177,762$11,939,212$5,865,338$38,393,592
94$101,462,775$12,407,115$5,944,708$41,794,053
95$111,691,169$12,894,255$6,023,047$45,524,988
96$122,959,055$13,401,460$6,100,205$49,619,551
97$135,372,339$13,929,592$6,176,023$54,114,259
98$149,047,730$14,479,554$6,250,332$59,049,331
99$164,113,833$15,052,287$6,322,953$64,469,069
100$180,712,372$15,648,777$6,393,699$70,422,268