Can I retire at age 57 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$77,789$77,097$76,421$75,761$75,116$73,963
2 years$38,510$37,792$37,097$36,423$35,770$34,611
3 years$25,418$24,698$24,004$23,337$22,694$21,565
4 years$18,874$18,155$17,469$16,813$16,185$15,096
5 years$14,948$14,234$13,557$12,914$12,304$11,256
6 years$12,332$11,623$10,956$10,327$9,736$8,731
7 years$10,464$9,761$9,104$8,491$7,918$6,957
8 years$9,063$8,367$7,721$7,123$6,568$5,651
9 years$7,975$7,285$6,650$6,067$5,532$4,657
10 years$7,104$6,421$5,798$5,230$4,713$3,881
11 years$6,393$5,717$5,104$4,551$4,054$3,263
12 years$5,800$5,131$4,530$3,992$3,513$2,763
13 years$5,299$4,637$4,047$3,525$3,063$2,352
14 years$4,870$4,215$3,636$3,129$2,685$2,013
15 years$4,498$3,850$3,283$2,790$2,364$1,729
16 years$4,173$3,533$2,977$2,498$2,089$1,490
17 years$3,887$3,253$2,709$2,245$1,853$1,288
18 years$3,633$3,006$2,473$2,023$1,647$1,115
19 years$3,406$2,786$2,264$1,828$1,468$968
20 years$3,202$2,589$2,077$1,656$1,312$842
21 years$3,017$2,412$1,911$1,503$1,174$733
22 years$2,850$2,251$1,761$1,366$1,052$639
23 years$2,697$2,105$1,626$1,244$944$558
24 years$2,557$1,973$1,504$1,135$849$487
25 years$2,429$1,851$1,393$1,036$764$426
26 years$2,310$1,740$1,292$948$688$373
27 years$2,201$1,637$1,200$867$620$327
28 years$2,100$1,543$1,115$795$560$286
29 years$2,005$1,456$1,038$729$505$251
30 years$1,918$1,375$967$669$457$220
31 years$1,836$1,299$901$614$413$193
32 years$1,759$1,230$841$564$373$169
33 years$1,687$1,164$785$519$338$149
34 years$1,619$1,104$734$478$306$130
35 years$1,556$1,047$686$440$277$115
36 years$1,496$994$642$405$251$101
37 years$1,440$944$600$373$228$88
38 years$1,386$897$562$344$206$78
39 years$1,336$853$527$317$187$68
40 years$1,288$811$494$292$170$60
41 years$1,242$772$463$270$154$53
42 years$1,199$736$434$249$140$46
43 years$1,158$701$408$230$127$41
44 years$1,119$668$383$212$115$36
45 years$1,082$637$359$196$104$31
46 years$1,047$608$337$181$95$28
47 years$1,013$580$317$167$86$24
48 years$980$554$298$155$78$21
49 years$949$529$280$143$71$19
50 years$920$505$263$132$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $942,000, adding $3,706 every year, while hoping to spend $45,570 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: 60/31/9 Blend
56$942,000$942,000$942,000$942,000
57$1,041,907$991,981$977,380$1,102,098
58$1,099,695$992,102$961,636$1,143,037
59$1,161,851$990,701$943,837$1,182,144
60$1,228,770$987,657$923,867$1,223,669
61$1,300,891$982,838$901,603$1,267,846
62$1,378,692$976,107$876,916$1,314,936
63$1,462,699$967,317$849,674$1,365,227
64$1,553,492$956,313$819,735$1,419,037
65$1,651,706$942,930$786,954$1,476,721
66$1,758,040$926,993$751,177$1,538,670
67$1,873,262$908,318$712,244$1,605,316
68$1,998,219$886,710$669,987$1,677,140
69$2,133,838$861,959$624,233$1,754,672
70$2,281,142$833,848$574,797$1,838,500
71$2,441,255$802,143$521,489$1,929,275
72$2,615,414$766,599$464,110$2,027,714
73$2,804,979$726,955$402,451$2,134,615
74$3,011,448$682,937$336,294$2,250,858
75$3,236,468$634,254$265,412$2,377,416
76$3,481,853$580,597$189,569$2,515,366
77$3,749,597$521,642$108,515$2,665,900
78$4,041,899$457,045$21,993$2,830,334
79$4,361,175$386,442$0$3,010,124
80$4,710,088$309,451$0$3,213,635
81$5,091,568$225,666$0$3,438,582
82$5,508,842$134,658$0$3,684,847
83$5,965,464$35,975$0$3,954,630
84$6,465,344$0$0$4,250,365
85$7,012,791$0$0$4,598,906
86$7,612,550$0$0$4,994,271
87$8,269,844$0$0$5,427,640
88$8,990,427$0$0$5,902,818
89$9,780,638$0$0$6,423,994
90$10,647,456$0$0$6,995,780
91$11,598,568$0$0$7,623,260
92$12,642,444$0$0$8,312,030
93$13,788,411$0$0$9,068,258
94$15,046,744$0$0$9,898,736
95$16,428,762$0$0$10,810,946
96$17,946,935$0$0$11,813,132
97$19,614,999$0$0$12,914,374
98$21,448,085$0$0$14,124,676
99$23,462,866$0$0$15,455,060
100$25,677,706$0$0$16,917,667