Can I retire at age 57 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$51,447$50,988$50,541$50,105$49,679$49,242
2 years$25,469$24,994$24,535$24,089$23,657$23,216
3 years$16,810$16,334$15,876$15,434$15,009$14,579
4 years$12,482$12,007$11,553$11,119$10,704$10,288
5 years$9,886$9,414$8,966$8,541$8,137$7,736
6 years$8,156$7,687$7,246$6,830$6,439$6,053
7 years$6,920$6,456$6,021$5,615$5,236$4,866
8 years$5,994$5,534$5,106$4,711$4,344$3,989
9 years$5,274$4,818$4,398$4,012$3,658$3,319
10 years$4,698$4,247$3,834$3,459$3,117$2,792
11 years$4,228$3,781$3,376$3,010$2,681$2,371
12 years$3,836$3,393$2,996$2,640$2,323$2,028
13 years$3,504$3,067$2,677$2,331$2,026$1,745
14 years$3,221$2,787$2,405$2,069$1,776$1,509
15 years$2,975$2,546$2,171$1,845$1,564$1,310
16 years$2,760$2,336$1,969$1,652$1,382$1,142
17 years$2,571$2,152$1,791$1,485$1,225$998
18 years$2,403$1,988$1,635$1,338$1,089$874
19 years$2,252$1,843$1,497$1,209$971$768
20 years$2,117$1,712$1,374$1,095$867$676
21 years$1,995$1,595$1,264$994$776$595
22 years$1,885$1,489$1,165$903$696$525
23 years$1,784$1,392$1,075$823$625$464
24 years$1,691$1,305$995$750$561$411
25 years$1,606$1,224$921$685$505$364
26 years$1,528$1,151$854$627$455$322
27 years$1,456$1,083$793$574$410$286
28 years$1,389$1,020$738$526$370$254
29 years$1,326$963$686$482$334$225
30 years$1,268$909$639$442$302$200
31 years$1,214$859$596$406$273$178
32 years$1,163$813$556$373$247$158
33 years$1,116$770$519$343$224$141
34 years$1,071$730$485$316$202$125
35 years$1,029$692$454$291$183$111
36 years$989$657$424$268$166$99
37 years$952$624$397$247$151$88
38 years$917$593$372$227$136$79
39 years$883$564$348$210$124$70
40 years$852$537$327$193$112$62
41 years$822$511$306$178$102$56
42 years$793$486$287$165$92$50
43 years$766$463$270$152$84$44
44 years$740$442$253$140$76$39
45 years$716$421$238$130$69$35
46 years$692$402$223$120$63$31
47 years$670$384$210$111$57$28
48 years$648$366$197$102$52$25
49 years$628$350$185$94$47$22
50 years$608$334$174$87$43$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $623,000, adding $6,408 every year, while hoping to spend $20,544 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: 79/14/7 Blend
56$623,000$623,000$623,000$623,000
57$693,156$660,137$650,480$746,861
58$741,999$670,625$650,413$793,474
59$795,136$680,938$649,654$841,256
60$852,982$691,047$648,160$893,056
61$915,996$700,918$645,884$949,265
62$984,682$710,517$642,775$1,010,315
63$1,059,595$719,807$638,783$1,076,677
64$1,141,344$728,749$633,853$1,148,875
65$1,230,602$737,299$627,928$1,227,483
66$1,328,110$745,412$620,950$1,313,135
67$1,434,680$753,041$612,855$1,406,527
68$1,551,211$760,133$603,579$1,508,428
69$1,678,689$766,634$593,053$1,619,686
70$1,818,201$772,485$581,206$1,741,231
71$1,970,944$777,623$567,963$1,874,092
72$2,138,236$781,983$553,246$2,019,402
73$2,321,530$785,494$536,973$2,178,408
74$2,522,423$788,080$519,059$2,352,483
75$2,742,676$789,662$499,413$2,543,144
76$2,984,229$790,155$477,943$2,752,058
77$3,249,216$789,468$454,550$2,981,066
78$3,539,991$787,507$429,133$3,232,193
79$3,859,145$784,170$401,583$3,507,674
80$4,209,531$779,348$371,790$3,809,969
81$4,594,295$772,927$339,637$4,141,790
82$5,016,900$764,787$305,001$4,506,126
83$5,481,161$754,799$267,756$4,906,271
84$5,991,281$742,826$227,768$5,345,854
85$6,551,891$728,725$184,898$5,828,877
86$7,168,093$712,341$139,001$6,359,746
87$7,845,507$693,514$89,926$6,943,321
88$8,590,325$672,072$37,514$7,584,956
89$9,409,368$647,833$0$8,290,550
90$10,310,152$620,606$0$9,067,983
91$11,300,959$590,187$0$9,926,125
92$12,390,912$556,362$0$10,870,082
93$13,590,064$518,902$0$11,908,572
94$14,909,490$477,568$0$13,051,204
95$16,361,395$432,106$0$14,308,564
96$17,959,226$382,248$0$15,692,318
97$19,717,797$327,708$0$17,215,325
98$21,653,435$268,188$0$18,891,752
99$23,784,127$203,371$0$20,737,212
100$26,129,694$132,923$0$22,768,913