Can I retire at age 57 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$77,707$77,015$76,339$75,680$75,037$72,664
2 years$38,469$37,752$37,058$36,385$35,732$33,363
3 years$25,391$24,672$23,979$23,312$22,670$20,379
4 years$18,854$18,136$17,451$16,795$16,168$13,973
5 years$14,932$14,219$13,542$12,900$12,291$10,197
6 years$12,319$11,611$10,944$10,316$9,725$7,735
7 years$10,453$9,751$9,095$8,482$7,909$6,022
8 years$9,054$8,358$7,713$7,115$6,562$4,776
9 years$7,966$7,277$6,643$6,060$5,526$3,840
10 years$7,097$6,415$5,792$5,224$4,708$3,120
11 years$6,386$5,711$5,099$4,547$4,049$2,555
12 years$5,794$5,125$4,525$3,988$3,509$2,106
13 years$5,293$4,632$4,043$3,521$3,060$1,745
14 years$4,865$4,210$3,633$3,125$2,682$1,452
15 years$4,493$3,846$3,280$2,787$2,362$1,212
16 years$4,169$3,529$2,974$2,496$2,087$1,014
17 years$3,883$3,250$2,706$2,242$1,851$851
18 years$3,629$3,003$2,470$2,021$1,646$715
19 years$3,402$2,783$2,261$1,826$1,467$602
20 years$3,198$2,586$2,075$1,654$1,310$508
21 years$3,014$2,409$1,909$1,501$1,172$428
22 years$2,847$2,249$1,759$1,365$1,051$362
23 years$2,694$2,103$1,624$1,243$943$306
24 years$2,554$1,971$1,502$1,134$848$259
25 years$2,426$1,849$1,391$1,035$763$219
26 years$2,308$1,738$1,290$947$687$185
27 years$2,199$1,636$1,198$866$620$157
28 years$2,097$1,541$1,114$794$559$133
29 years$2,003$1,454$1,037$728$505$113
30 years$1,915$1,373$966$668$456$96
31 years$1,834$1,298$900$614$412$81
32 years$1,757$1,228$840$564$373$69
33 years$1,685$1,163$784$519$338$58
34 years$1,618$1,102$733$477$306$49
35 years$1,554$1,046$685$439$277$42
36 years$1,495$992$641$404$251$36
37 years$1,438$943$600$373$227$30
38 years$1,385$896$562$344$206$26
39 years$1,334$852$526$317$187$22
40 years$1,286$810$493$292$170$18
41 years$1,241$771$463$270$154$16
42 years$1,198$735$434$249$140$13
43 years$1,157$700$407$230$127$11
44 years$1,118$667$382$212$115$10
45 years$1,081$636$359$196$104$8
46 years$1,045$607$337$181$95$7
47 years$1,012$579$317$167$86$6
48 years$979$553$298$154$78$5
49 years$948$528$280$143$71$4
50 years$919$504$263$132$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $941,000, adding $4,944 every year, while hoping to spend $42,770 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: 71/17/12 Blend
56$941,000$941,000$941,000$941,000
57$1,042,082$992,209$977,623$1,113,099
58$1,102,867$995,320$964,867$1,163,921
59$1,168,419$997,150$950,249$1,213,845
60$1,239,179$997,592$933,664$1,267,356
61$1,315,631$996,529$914,997$1,324,799
62$1,398,308$993,842$894,132$1,386,553
63$1,487,795$989,400$870,945$1,453,039
64$1,584,736$983,066$845,308$1,524,721
65$1,689,838$974,696$817,085$1,602,108
66$1,803,879$964,134$786,135$1,685,766
67$1,927,716$951,217$752,311$1,776,316
68$2,062,289$935,773$715,460$1,874,444
69$2,208,634$917,617$675,419$1,980,909
70$2,367,890$896,555$632,021$2,096,547
71$2,541,310$872,382$585,088$2,222,279
72$2,730,273$844,878$534,439$2,359,124
73$2,936,298$813,814$479,880$2,508,203
74$3,161,055$778,946$421,210$2,670,756
75$3,406,382$740,014$358,220$2,848,150
76$3,674,304$696,746$290,692$3,041,893
77$3,967,050$648,853$218,396$3,253,648
78$4,287,071$596,028$141,095$3,485,251
79$4,637,069$537,950$58,538$3,738,727
80$5,020,017$474,277$0$4,016,309
81$5,439,190$404,648$0$4,324,247
82$5,898,193$328,681$0$4,669,718
83$6,400,997$245,975$0$5,048,254
84$6,951,974$156,104$0$5,463,201
85$7,555,941$58,618$0$5,918,246
86$8,218,200$0$0$6,417,454
87$8,944,593$0$0$6,974,090
88$9,741,556$0$0$7,596,882
89$10,616,173$0$0$8,280,410
90$11,576,253$0$0$9,030,779
91$12,630,393$0$0$9,854,718
92$13,788,066$0$0$10,759,637
93$15,059,708$0$0$11,753,699
94$16,456,812$0$0$12,845,898
95$17,992,043$0$0$14,046,141
96$19,679,352$0$0$15,365,343
97$21,534,108$0$0$16,815,528
98$23,573,244$0$0$18,409,943
99$25,815,416$0$0$20,163,185
100$28,281,177$0$0$22,091,333