Can I retire at age 57 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$73,413$72,759$72,121$71,498$70,890$69,204
2 years$36,343$35,666$35,010$34,374$33,757$32,069
3 years$23,988$23,308$22,654$22,024$21,417$19,779
4 years$17,812$17,134$16,486$15,867$15,275$13,699
5 years$14,107$13,433$12,794$12,187$11,612$10,103
6 years$11,638$10,969$10,339$9,746$9,188$7,748
7 years$9,875$9,212$8,592$8,013$7,472$6,101
8 years$8,553$7,896$7,287$6,722$6,199$4,896
9 years$7,526$6,875$6,276$5,726$5,220$3,984
10 years$6,705$6,060$5,472$4,935$4,448$3,278
11 years$6,033$5,395$4,817$4,295$3,825$2,719
12 years$5,474$4,842$4,275$3,768$3,315$2,271
13 years$5,001$4,376$3,820$3,326$2,891$1,907
14 years$4,596$3,978$3,432$2,953$2,534$1,609
15 years$4,245$3,634$3,099$2,633$2,231$1,362
16 years$3,939$3,334$2,809$2,358$1,972$1,156
17 years$3,668$3,070$2,556$2,118$1,748$984
18 years$3,429$2,837$2,334$1,909$1,555$840
19 years$3,214$2,629$2,136$1,725$1,386$718
20 years$3,021$2,443$1,961$1,562$1,238$614
21 years$2,847$2,276$1,803$1,418$1,108$526
22 years$2,689$2,124$1,662$1,289$993$452
23 years$2,545$1,987$1,535$1,174$891$388
24 years$2,413$1,862$1,419$1,071$801$333
25 years$2,292$1,747$1,315$978$721$287
26 years$2,180$1,642$1,219$894$649$247
27 years$2,077$1,545$1,132$819$585$212
28 years$1,981$1,456$1,052$750$528$183
29 years$1,892$1,374$979$688$477$158
30 years$1,810$1,297$912$631$431$136
31 years$1,732$1,226$850$580$390$117
32 years$1,660$1,160$793$533$352$101
33 years$1,592$1,099$741$490$319$87
34 years$1,528$1,042$692$451$289$75
35 years$1,468$988$647$415$262$65
36 years$1,412$938$605$382$237$56
37 years$1,359$891$567$352$215$48
38 years$1,308$846$531$325$195$42
39 years$1,261$805$497$299$177$36
40 years$1,215$766$466$276$160$31
41 years$1,173$729$437$255$145$27
42 years$1,132$694$410$235$132$23
43 years$1,093$661$385$217$120$20
44 years$1,056$630$361$200$109$17
45 years$1,021$601$339$185$99$15
46 years$988$573$318$171$90$13
47 years$956$547$299$158$81$11
48 years$925$522$281$146$74$10
49 years$896$499$264$135$67$8
50 years$868$477$248$125$61$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $889,000, adding $4,529 every year, while hoping to spend $37,574 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: 80/5/15 Blend
56$889,000$889,000$889,000$889,000
57$984,350$937,233$923,453$1,059,703
58$1,044,775$943,179$914,410$1,115,861
59$1,110,104$948,157$903,805$1,172,184
60$1,180,798$952,080$891,546$1,232,929
61$1,257,363$954,855$877,536$1,298,522
62$1,340,355$956,384$861,675$1,369,432
63$1,430,387$956,562$843,857$1,446,178
64$1,528,131$955,279$823,971$1,529,330
65$1,634,329$952,416$801,902$1,619,518
66$1,749,794$947,847$777,529$1,717,433
67$1,875,422$941,441$750,726$1,823,840
68$2,012,200$933,057$721,360$1,939,579
69$2,161,212$922,544$689,293$2,065,578
70$2,323,652$909,745$654,380$2,202,859
71$2,500,833$894,491$616,471$2,352,549
72$2,694,203$876,606$575,407$2,515,887
73$2,905,352$855,900$531,024$2,694,242
74$3,136,032$832,174$483,148$2,889,123
75$3,388,174$805,217$431,600$3,102,190
76$3,663,901$774,806$376,192$3,335,276
77$3,965,551$740,704$316,727$3,590,400
78$4,295,700$702,660$252,999$3,869,786
79$4,657,181$660,411$184,795$4,175,888
80$5,053,119$613,676$111,890$4,511,408
81$5,486,950$562,160$34,052$4,879,327
82$5,962,463$505,549$0$5,282,929
83$6,483,827$443,513$0$5,733,679
84$7,055,635$375,704$0$6,234,048
85$7,682,948$301,751$0$6,783,022
86$8,371,336$221,265$0$7,385,492
87$9,126,940$133,834$0$8,046,849
88$9,956,519$39,023$0$8,773,029
89$10,867,523$0$0$9,570,575
90$11,868,155$0$0$10,450,195
91$12,967,454$0$0$11,418,935
92$14,175,377$0$0$12,483,425
93$15,502,894$0$0$13,653,336
94$16,962,088$0$0$14,939,320
95$18,566,274$0$0$16,353,115
96$20,330,120$0$0$17,907,652
97$22,269,785$0$0$19,617,176
98$24,403,076$0$0$21,497,385
99$26,749,608$0$0$23,565,572
100$29,330,994$0$0$25,840,791