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%14.6%
1 years$77,624$76,933$76,258$75,600$74,957$73,534
2 years$38,428$37,712$37,019$36,346$35,694$34,265
3 years$25,364$24,645$23,953$23,287$22,646$21,257
4 years$18,834$18,117$17,432$16,777$16,151$14,812
5 years$14,916$14,204$13,528$12,886$12,278$10,993
6 years$12,305$11,599$10,933$10,305$9,715$8,486
7 years$10,441$9,740$9,085$8,473$7,901$6,727
8 years$9,044$8,349$7,705$7,108$6,555$5,436
9 years$7,958$7,270$6,636$6,054$5,520$4,456
10 years$7,089$6,408$5,786$5,219$4,703$3,693
11 years$6,379$5,704$5,094$4,542$4,045$3,087
12 years$5,788$5,120$4,520$3,984$3,505$2,599
13 years$5,288$4,627$4,039$3,517$3,057$2,200
14 years$4,859$4,206$3,629$3,122$2,679$1,871
15 years$4,489$3,842$3,276$2,784$2,359$1,597
16 years$4,165$3,525$2,970$2,493$2,085$1,368
17 years$3,879$3,246$2,703$2,240$1,849$1,174
18 years$3,625$3,000$2,467$2,019$1,644$1,011
19 years$3,399$2,780$2,259$1,824$1,465$871
20 years$3,195$2,584$2,073$1,652$1,309$753
21 years$3,011$2,406$1,907$1,499$1,171$651
22 years$2,843$2,246$1,757$1,363$1,050$564
23 years$2,691$2,101$1,623$1,242$942$489
24 years$2,552$1,968$1,501$1,132$847$424
25 years$2,423$1,847$1,390$1,034$762$368
26 years$2,305$1,736$1,289$946$687$320
27 years$2,196$1,634$1,197$865$619$278
28 years$2,095$1,540$1,113$793$559$242
29 years$2,001$1,452$1,036$727$504$210
30 years$1,913$1,372$965$667$456$183
31 years$1,832$1,297$899$613$412$159
32 years$1,755$1,227$839$563$373$139
33 years$1,683$1,162$783$518$337$121
34 years$1,616$1,101$732$477$305$105
35 years$1,553$1,045$684$439$277$92
36 years$1,493$991$640$404$251$80
37 years$1,437$942$599$372$227$70
38 years$1,383$895$561$343$206$61
39 years$1,333$851$526$316$187$53
40 years$1,285$810$493$292$169$46
41 years$1,240$771$462$269$154$40
42 years$1,197$734$433$248$139$35
43 years$1,156$699$407$229$127$31
44 years$1,117$667$382$212$115$27
45 years$1,080$636$358$196$104$23
46 years$1,044$606$337$181$95$20
47 years$1,011$579$316$167$86$18
48 years$978$552$297$154$78$16
49 years$947$528$279$143$71$14
50 years$918$504$263$132$64$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $940,000, adding $2,413 every year, while hoping to spend $24,390 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: 44/28/28 Blend
56$940,000$940,000$940,000$940,000
57$1,038,369$988,549$973,979$1,075,522
58$1,118,332$1,011,037$980,657$1,124,765
59$1,205,634$1,033,810$986,740$1,175,601
60$1,300,997$1,056,855$992,185$1,230,242
61$1,405,217$1,080,160$996,942$1,289,057
62$1,519,171$1,103,709$1,000,961$1,352,452
63$1,643,823$1,127,487$1,004,189$1,420,875
64$1,780,234$1,151,476$1,006,571$1,494,818
65$1,929,575$1,175,655$1,008,049$1,574,827
66$2,093,133$1,200,004$1,008,560$1,661,501
67$2,272,327$1,224,498$1,008,040$1,755,504
68$2,468,717$1,249,111$1,006,422$1,857,565
69$2,684,025$1,273,816$1,003,636$1,968,489
70$2,920,144$1,298,581$999,606$2,089,164
71$3,179,161$1,323,374$994,256$2,220,571
72$3,463,375$1,348,159$987,503$2,363,789
73$3,775,316$1,372,896$979,261$2,520,010
74$4,117,774$1,397,544$969,442$2,690,548
75$4,493,820$1,422,056$957,951$2,876,851
76$4,906,837$1,446,385$944,691$3,080,517
77$5,360,554$1,470,477$929,557$3,303,310
78$5,859,077$1,494,277$912,443$3,547,171
79$6,406,928$1,517,722$893,236$3,814,245
80$7,009,093$1,540,748$871,817$4,106,894
81$7,671,061$1,563,286$848,064$4,427,725
82$8,398,882$1,585,259$821,846$4,779,612
83$9,199,219$1,606,588$793,030$5,165,722
84$10,079,416$1,627,188$761,473$5,589,551
85$11,047,563$1,646,966$727,028$6,054,952
86$12,112,571$1,665,824$689,541$6,566,173
87$13,284,263$1,683,659$648,850$7,127,898
88$14,573,457$1,700,358$604,786$7,745,293
89$15,992,077$1,715,803$557,174$8,424,053
90$17,553,258$1,729,866$505,828$9,170,456
91$19,271,474$1,742,413$450,557$9,991,425
92$21,162,673$1,753,301$391,160$10,894,594
93$23,244,429$1,762,375$327,426$11,888,377
94$25,536,102$1,769,473$259,137$12,982,052
95$28,059,030$1,774,423$186,063$14,185,847
96$30,836,722$1,777,040$107,967$15,511,038
97$33,895,081$1,777,128$24,597$16,970,056
98$37,262,653$1,774,482$0$18,576,607
99$40,970,891$1,768,878$0$20,365,029
100$45,054,454$1,760,086$0$22,341,839