Can I retire at age 57 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$58,136$57,618$57,113$56,619$56,138$54,406
2 years$28,780$28,244$27,725$27,221$26,732$25,003
3 years$18,996$18,458$17,940$17,441$16,960$15,287
4 years$14,105$13,568$13,055$12,565$12,096$10,492
5 years$11,171$10,638$10,132$9,651$9,195$7,665
6 years$9,216$8,687$8,188$7,718$7,276$5,821
7 years$7,820$7,295$6,804$6,345$5,917$4,537
8 years$6,773$6,253$5,770$5,323$4,909$3,602
9 years$5,960$5,444$4,970$4,534$4,134$2,900
10 years$5,309$4,799$4,333$3,908$3,522$2,359
11 years$4,777$4,272$3,815$3,401$3,029$1,935
12 years$4,335$3,835$3,385$2,984$2,625$1,597
13 years$3,960$3,465$3,025$2,634$2,289$1,325
14 years$3,639$3,150$2,718$2,338$2,007$1,104
15 years$3,362$2,877$2,454$2,085$1,767$923
16 years$3,119$2,640$2,225$1,867$1,562$773
17 years$2,905$2,431$2,024$1,678$1,385$650
18 years$2,715$2,247$1,848$1,512$1,231$547
19 years$2,545$2,082$1,692$1,366$1,097$461
20 years$2,393$1,935$1,553$1,237$980$389
21 years$2,255$1,802$1,428$1,123$877$329
22 years$2,130$1,682$1,316$1,021$786$278
23 years$2,015$1,573$1,215$930$706$236
24 years$1,911$1,474$1,124$848$634$200
25 years$1,815$1,384$1,041$774$571$169
26 years$1,727$1,300$965$708$514$144
27 years$1,645$1,224$897$648$464$122
28 years$1,569$1,153$833$594$418$103
29 years$1,499$1,088$776$545$378$88
30 years$1,433$1,027$722$500$341$75
31 years$1,372$971$673$459$309$63
32 years$1,314$919$628$422$279$54
33 years$1,261$870$587$388$253$46
34 years$1,210$825$548$357$229$39
35 years$1,163$782$513$329$207$33
36 years$1,118$743$479$303$188$28
37 years$1,076$705$449$279$170$24
38 years$1,036$670$420$257$154$20
39 years$998$637$394$237$140$17
40 years$962$606$369$219$127$15
41 years$929$577$346$202$115$12
42 years$896$550$325$186$104$11
43 years$866$524$305$172$95$9
44 years$836$499$286$159$86$8
45 years$809$476$268$146$78$7
46 years$782$454$252$135$71$6
47 years$757$433$237$125$64$5
48 years$733$414$223$116$58$4
49 years$709$395$209$107$53$3
50 years$687$377$197$99$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $704,000, adding $3,779 every year, while hoping to spend $31,988 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: 79/6/15 Blend
56$704,000$704,000$704,000$704,000
57$779,706$742,394$731,482$838,576
58$825,201$744,736$721,952$880,211
59$874,264$746,121$711,030$921,414
60$927,227$746,468$698,637$965,720
61$984,450$745,692$684,687$1,013,427
62$1,046,334$743,700$669,094$1,064,863
63$1,113,316$740,398$651,765$1,120,390
64$1,185,878$735,681$632,603$1,180,404
65$1,264,550$729,442$611,508$1,245,346
66$1,349,915$721,565$588,374$1,315,699
67$1,442,613$711,929$563,091$1,391,996
68$1,543,348$700,403$535,544$1,474,824
69$1,652,897$686,850$505,612$1,564,831
70$1,772,112$671,125$473,169$1,662,732
71$1,901,932$653,074$438,084$1,769,312
72$2,043,388$632,534$400,220$1,885,441
73$2,197,618$609,332$359,431$2,012,073
74$2,365,872$583,287$315,569$2,150,264
75$2,549,528$554,204$268,477$2,301,176
76$2,750,099$521,880$217,991$2,466,089
77$2,969,256$486,098$163,940$2,646,417
78$3,208,834$446,631$106,146$2,843,716
79$3,470,855$403,236$44,422$3,059,703
80$3,757,546$355,658$0$3,296,270
81$4,071,358$303,628$0$3,558,936
82$4,414,991$246,861$0$3,854,378
83$4,791,418$185,055$0$4,178,047
84$5,203,913$117,893$0$4,532,775
85$5,656,081$45,038$0$4,921,678
86$6,151,893$0$0$5,348,192
87$6,695,724$0$0$5,818,335
88$7,292,389$0$0$6,337,439
89$7,947,196$0$0$6,907,149
90$8,665,989$0$0$7,532,553
91$9,455,207$0$0$8,219,256
92$10,321,941$0$0$8,973,432
93$11,274,005$0$0$9,801,881
94$12,320,005$0$0$10,712,097
95$13,469,423$0$0$11,712,334
96$14,732,704$0$0$12,811,684
97$16,121,356$0$0$14,020,165
98$17,648,056$0$0$15,348,815
99$19,326,773$0$0$16,809,792
100$21,172,895$0$0$18,416,495