Can I retire at age 57 with 940,000?

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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$77,624$76,933$76,258$75,600$74,957$74,516
2 years$38,428$37,712$37,019$36,346$35,694$35,249
3 years$25,364$24,645$23,953$23,287$22,646$22,210
4 years$18,834$18,117$17,432$16,777$16,151$15,729
5 years$14,916$14,204$13,528$12,886$12,278$11,870
6 years$12,305$11,599$10,933$10,305$9,715$9,322
7 years$10,441$9,740$9,085$8,473$7,901$7,524
8 years$9,044$8,349$7,705$7,108$6,555$6,192
9 years$7,958$7,270$6,636$6,054$5,520$5,173
10 years$7,089$6,408$5,786$5,219$4,703$4,371
11 years$6,379$5,704$5,094$4,542$4,045$3,727
12 years$5,788$5,120$4,520$3,984$3,505$3,202
13 years$5,288$4,627$4,039$3,517$3,057$2,768
14 years$4,859$4,206$3,629$3,122$2,679$2,404
15 years$4,489$3,842$3,276$2,784$2,359$2,098
16 years$4,165$3,525$2,970$2,493$2,085$1,837
17 years$3,879$3,246$2,703$2,240$1,849$1,613
18 years$3,625$3,000$2,467$2,019$1,644$1,420
19 years$3,399$2,780$2,259$1,824$1,465$1,253
20 years$3,195$2,584$2,073$1,652$1,309$1,108
21 years$3,011$2,406$1,907$1,499$1,171$982
22 years$2,843$2,246$1,757$1,363$1,050$871
23 years$2,691$2,101$1,623$1,242$942$774
24 years$2,552$1,968$1,501$1,132$847$688
25 years$2,423$1,847$1,390$1,034$762$613
26 years$2,305$1,736$1,289$946$687$546
27 years$2,196$1,634$1,197$865$619$487
28 years$2,095$1,540$1,113$793$559$435
29 years$2,001$1,452$1,036$727$504$388
30 years$1,913$1,372$965$667$456$347
31 years$1,832$1,297$899$613$412$310
32 years$1,755$1,227$839$563$373$277
33 years$1,683$1,162$783$518$337$248
34 years$1,616$1,101$732$477$305$222
35 years$1,553$1,045$684$439$277$199
36 years$1,493$991$640$404$251$178
37 years$1,437$942$599$372$227$159
38 years$1,383$895$561$343$206$143
39 years$1,333$851$526$316$187$128
40 years$1,285$810$493$292$169$115
41 years$1,240$771$462$269$154$103
42 years$1,197$734$433$248$139$92
43 years$1,156$699$407$229$127$83
44 years$1,117$667$382$212$115$74
45 years$1,080$636$358$196$104$66
46 years$1,044$606$337$181$95$60
47 years$1,011$579$316$167$86$53
48 years$978$552$297$154$78$48
49 years$947$528$279$143$71$43
50 years$918$504$263$132$64$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $940,000, adding $2,340 every year, while hoping to spend $51,492 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: 64/18/18 Blend
56$940,000$940,000$940,000$940,000
57$1,038,294$988,474$973,904$1,099,913
58$1,089,413$982,122$951,742$1,135,228
59$1,144,020$973,733$927,113$1,167,714
60$1,202,417$963,153$899,878$1,201,978
61$1,264,934$950,218$869,895$1,238,198
62$1,331,934$934,755$837,013$1,276,566
63$1,403,814$916,581$801,076$1,317,302
64$1,481,011$895,501$761,919$1,360,644
65$1,564,003$871,310$719,373$1,406,860
66$1,653,316$843,789$673,256$1,456,247
67$1,749,527$812,707$623,383$1,509,133
68$1,853,270$777,821$569,558$1,565,884
69$1,965,242$738,873$511,576$1,626,903
70$2,086,207$695,588$449,225$1,692,640
71$2,217,007$647,679$382,280$1,763,591
72$2,358,565$594,839$310,511$1,840,308
73$2,511,899$536,746$233,673$1,923,401
74$2,678,124$473,058$151,512$2,013,547
75$2,858,470$403,415$63,765$2,111,495
76$3,054,287$327,435$0$2,218,074
77$3,267,061$244,717$0$2,339,941
78$3,498,428$154,834$0$2,485,818
79$3,750,184$57,338$0$2,644,628
80$4,024,310$0$0$2,817,677
81$4,322,982$0$0$3,015,961
82$4,648,597$0$0$3,244,573
83$5,003,792$0$0$3,494,014
84$5,391,469$0$0$3,766,331
85$5,814,824$0$0$4,063,775
86$6,277,374$0$0$4,388,827
87$6,782,992$0$0$4,744,217
88$7,335,940$0$0$5,132,950
89$7,940,913$0$0$5,558,336
90$8,603,080$0$0$6,024,019
91$9,328,131$0$0$6,534,011
92$10,122,336$0$0$7,092,732
93$10,992,595$0$0$7,705,048
94$11,946,511$0$0$8,376,320
95$12,992,456$0$0$9,112,451
96$14,139,650$0$0$9,919,941
97$15,398,249$0$0$10,805,954
98$16,779,441$0$0$11,778,376
99$18,295,548$0$0$12,845,897
100$19,960,142$0$0$14,018,088