Can I retire at age 57 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$73,991$73,332$72,689$72,061$71,448$69,468
2 years$36,629$35,947$35,286$34,645$34,023$32,042
3 years$24,177$23,492$22,832$22,197$21,586$19,667
4 years$17,952$17,269$16,616$15,992$15,395$13,553
5 years$14,218$13,539$12,895$12,283$11,703$9,943
6 years$11,729$11,056$10,421$9,823$9,260$7,583
7 years$9,953$9,285$8,660$8,076$7,531$5,938
8 years$8,621$7,959$7,344$6,775$6,248$4,737
9 years$7,585$6,929$6,326$5,771$5,261$3,832
10 years$6,757$6,108$5,515$4,974$4,483$3,133
11 years$6,080$5,437$4,855$4,329$3,856$2,582
12 years$5,517$4,880$4,309$3,797$3,341$2,143
13 years$5,040$4,410$3,850$3,352$2,914$1,787
14 years$4,632$4,009$3,459$2,976$2,554$1,497
15 years$4,279$3,662$3,123$2,654$2,249$1,259
16 years$3,970$3,360$2,831$2,376$1,987$1,061
17 years$3,697$3,094$2,576$2,135$1,762$897
18 years$3,456$2,859$2,352$1,924$1,567$759
19 years$3,239$2,650$2,153$1,739$1,397$644
20 years$3,045$2,463$1,976$1,575$1,247$547
21 years$2,870$2,294$1,818$1,429$1,116$465
22 years$2,710$2,141$1,675$1,299$1,001$396
23 years$2,565$2,003$1,547$1,183$898$338
24 years$2,432$1,876$1,430$1,079$807$288
25 years$2,310$1,761$1,325$986$726$246
26 years$2,197$1,655$1,229$901$654$210
27 years$2,093$1,557$1,141$825$590$179
28 years$1,997$1,468$1,061$756$532$153
29 years$1,907$1,384$987$693$481$131
30 years$1,824$1,308$919$636$434$112
31 years$1,746$1,236$857$584$393$95
32 years$1,673$1,170$800$537$355$82
33 years$1,605$1,108$747$494$321$70
34 years$1,540$1,050$698$454$291$60
35 years$1,480$996$652$418$264$51
36 years$1,423$945$610$385$239$44
37 years$1,369$898$571$355$216$37
38 years$1,319$853$535$327$196$32
39 years$1,271$811$501$302$178$27
40 years$1,225$772$470$278$161$23
41 years$1,182$735$440$257$146$20
42 years$1,141$700$413$237$133$17
43 years$1,102$667$388$219$121$15
44 years$1,065$635$364$202$109$13
45 years$1,029$606$342$186$99$11
46 years$995$578$321$172$90$9
47 years$963$552$301$159$82$8
48 years$932$527$283$147$74$7
49 years$903$503$266$136$68$6
50 years$875$480$250$126$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $896,000, adding $6,969 every year, while hoping to spend $56,451 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: 39/31/30 Blend
56$896,000$896,000$896,000$896,000
57$994,581$947,093$933,205$1,024,308
58$1,035,964$933,437$904,403$1,033,097
59$1,079,677$917,220$872,746$1,036,917
60$1,125,897$898,256$838,075$1,039,993
61$1,174,819$876,351$800,231$1,042,292
62$1,226,654$851,295$759,042$1,043,786
63$1,281,634$822,870$714,332$1,044,449
64$1,340,013$790,843$665,914$1,044,256
65$1,402,067$754,968$613,595$1,043,186
66$1,468,101$714,984$557,173$1,041,222
67$1,538,444$670,616$496,436$1,038,353
68$1,613,462$621,572$431,163$1,034,570
69$1,693,552$567,546$361,124$1,029,875
70$1,779,150$508,211$286,077$1,024,272
71$1,870,733$443,223$205,770$1,017,779
72$1,968,827$372,220$119,942$1,010,422
73$2,074,005$294,817$28,319$1,002,236
74$2,186,899$210,608$0$993,274
75$2,308,200$119,166$0$1,005,835
76$2,438,669$20,037$0$1,028,887
77$2,579,139$0$0$1,053,557
78$2,730,526$0$0$1,109,840
79$2,893,836$0$0$1,178,022
80$3,070,176$0$0$1,251,740
81$3,260,759$0$0$1,331,514
82$3,466,920$0$0$1,417,916
83$3,690,126$0$0$1,511,575
84$3,931,992$0$0$1,613,181
85$4,194,290$0$0$1,723,496
86$4,478,972$0$0$1,843,354
87$4,788,183$0$0$1,973,675
88$5,124,282$0$0$2,115,472
89$5,489,866$0$0$2,269,857
90$5,887,791$0$0$2,438,056
91$6,321,200$0$0$2,621,416
92$6,793,552$0$0$2,821,421
93$7,308,652$0$0$3,039,704
94$7,870,691$0$0$3,278,063
95$8,484,280$0$0$3,538,476
96$9,154,494$0$0$3,823,121
97$9,886,922$0$0$4,134,398
98$10,687,715$0$0$4,474,947
99$11,563,647$0$0$4,847,675
100$12,522,177$0$0$5,255,784