Can I retire at age 57 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$57,971$57,454$56,950$56,459$55,978$55,096
2 years$28,698$28,164$27,646$27,144$26,656$25,770
3 years$18,942$18,405$17,889$17,391$16,912$16,049
4 years$14,065$13,530$13,018$12,529$12,062$11,229
5 years$11,140$10,608$10,103$9,624$9,169$8,368
6 years$9,190$8,662$8,165$7,696$7,255$6,488
7 years$7,798$7,274$6,785$6,327$5,900$5,166
8 years$6,754$6,235$5,754$5,308$4,895$4,194
9 years$5,943$5,429$4,956$4,521$4,122$3,455
10 years$5,294$4,785$4,321$3,897$3,512$2,877
11 years$4,764$4,260$3,804$3,392$3,021$2,417
12 years$4,322$3,824$3,376$2,975$2,618$2,045
13 years$3,949$3,456$3,016$2,627$2,283$1,741
14 years$3,629$3,141$2,710$2,332$2,001$1,488
15 years$3,352$2,869$2,447$2,079$1,762$1,277
16 years$3,110$2,633$2,218$1,862$1,557$1,100
17 years$2,897$2,424$2,019$1,673$1,381$950
18 years$2,707$2,240$1,843$1,508$1,228$822
19 years$2,538$2,076$1,687$1,362$1,094$713
20 years$2,386$1,929$1,548$1,234$977$620
21 years$2,248$1,797$1,424$1,120$875$539
22 years$2,124$1,678$1,312$1,018$784$470
23 years$2,010$1,569$1,212$927$704$410
24 years$1,906$1,470$1,121$846$633$358
25 years$1,810$1,380$1,038$772$569$313
26 years$1,722$1,297$963$706$513$273
27 years$1,640$1,220$894$646$462$239
28 years$1,565$1,150$831$592$417$209
29 years$1,494$1,085$773$543$377$183
30 years$1,429$1,024$720$498$340$161
31 years$1,368$968$672$458$308$141
32 years$1,311$916$627$421$278$123
33 years$1,257$868$585$387$252$108
34 years$1,207$822$547$356$228$95
35 years$1,160$780$511$328$207$83
36 years$1,115$740$478$302$187$73
37 years$1,073$703$447$278$170$64
38 years$1,033$668$419$256$154$56
39 years$995$635$393$236$139$49
40 years$960$605$368$218$126$43
41 years$926$576$345$201$115$38
42 years$894$548$324$186$104$33
43 years$863$522$304$171$94$29
44 years$834$498$285$158$86$26
45 years$806$475$268$146$78$23
46 years$780$453$251$135$71$20
47 years$755$432$236$125$64$18
48 years$731$413$222$115$58$15
49 years$707$394$209$106$53$14
50 years$685$376$196$98$48$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $702,000, adding $6,716 every year, while hoping to spend $34,821 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: 55/32/13 Blend
56$702,000$702,000$702,000$702,000
57$780,532$743,326$732,445$820,480
58$823,096$742,699$719,932$847,735
59$868,836$740,875$705,834$873,040
60$918,037$737,758$690,059$899,787
61$971,015$733,246$672,514$928,120
62$1,028,116$727,233$653,100$958,199
63$1,089,720$719,603$631,715$990,204
64$1,156,244$710,237$608,251$1,024,331
65$1,228,149$699,006$582,595$1,060,803
66$1,305,938$685,775$554,629$1,099,862
67$1,390,165$670,399$524,231$1,141,781
68$1,481,441$652,728$491,272$1,186,860
69$1,580,435$632,599$455,617$1,235,435
70$1,687,886$609,843$417,127$1,287,875
71$1,804,603$584,278$375,653$1,344,593
72$1,931,479$555,714$331,044$1,406,043
73$2,069,494$523,948$283,138$1,472,732
74$2,219,729$488,768$231,770$1,545,220
75$2,383,370$449,947$176,763$1,624,127
76$2,561,726$407,246$117,937$1,710,142
77$2,756,235$360,414$55,100$1,804,026
78$2,968,480$309,183$0$1,906,622
79$3,200,203$253,271$0$2,020,524
80$3,453,324$192,382$0$2,153,371
81$3,729,954$126,200$0$2,298,686
82$4,032,419$54,393$0$2,457,767
83$4,363,279$0$0$2,632,049
84$4,725,352$0$0$2,831,350
85$5,121,743$0$0$3,070,572
86$5,555,869$0$0$3,332,634
87$6,031,496$0$0$3,619,816
88$6,552,767$0$0$3,934,628
89$7,124,248$0$0$4,279,838
90$7,750,969$0$0$4,658,491
91$8,438,466$0$0$5,073,943
92$9,192,841$0$0$5,529,890
93$10,020,812$0$0$6,030,404
94$10,929,780$0$0$6,579,968
95$11,927,899$0$0$7,183,524
96$13,024,149$0$0$7,846,513
97$14,228,424$0$0$8,574,930
98$15,551,623$0$0$9,375,380
99$17,005,754$0$0$10,255,139
100$18,604,043$0$0$11,222,223