Can I retire at age 57 with 944,000?

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 $944,000?

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$77,955$77,260$76,583$75,922$75,276$74,120
2 years$38,591$37,873$37,176$36,501$35,846$34,684
3 years$25,472$24,750$24,055$23,386$22,742$21,611
4 years$18,914$18,194$17,506$16,849$16,220$15,128
5 years$14,980$14,264$13,586$12,941$12,330$11,280
6 years$12,358$11,648$10,979$10,349$9,756$8,750
7 years$10,486$9,782$9,124$8,509$7,934$6,972
8 years$9,082$8,385$7,738$7,138$6,582$5,663
9 years$7,992$7,301$6,664$6,080$5,543$4,667
10 years$7,119$6,435$5,810$5,241$4,723$3,889
11 years$6,406$5,729$5,115$4,561$4,062$3,270
12 years$5,812$5,142$4,540$4,001$3,520$2,768
13 years$5,310$4,647$4,056$3,532$3,070$2,357
14 years$4,880$4,224$3,644$3,135$2,691$2,017
15 years$4,508$3,858$3,290$2,796$2,369$1,732
16 years$4,182$3,540$2,983$2,504$2,094$1,493
17 years$3,895$3,260$2,714$2,250$1,857$1,290
18 years$3,641$3,013$2,478$2,027$1,651$1,118
19 years$3,413$2,792$2,268$1,832$1,471$970
20 years$3,208$2,595$2,082$1,659$1,314$844
21 years$3,023$2,417$1,915$1,506$1,176$735
22 years$2,856$2,256$1,765$1,369$1,054$640
23 years$2,703$2,110$1,630$1,247$946$559
24 years$2,562$1,977$1,507$1,137$851$488
25 years$2,434$1,855$1,396$1,039$765$427
26 years$2,315$1,744$1,295$950$689$374
27 years$2,206$1,641$1,202$869$622$327
28 years$2,104$1,546$1,118$796$561$287
29 years$2,010$1,459$1,040$730$506$251
30 years$1,922$1,378$969$670$458$220
31 years$1,839$1,302$903$616$414$193
32 years$1,763$1,232$843$566$374$170
33 years$1,691$1,167$787$520$339$149
34 years$1,623$1,106$735$479$307$131
35 years$1,559$1,049$687$441$278$115
36 years$1,499$996$643$406$252$101
37 years$1,443$946$602$374$228$89
38 years$1,389$899$564$345$207$78
39 years$1,339$855$528$318$188$68
40 years$1,291$813$495$293$170$60
41 years$1,245$774$464$270$154$53
42 years$1,202$737$435$250$140$46
43 years$1,161$702$408$230$127$41
44 years$1,122$669$383$213$115$36
45 years$1,084$638$360$196$105$32
46 years$1,049$609$338$181$95$28
47 years$1,015$581$318$168$86$24
48 years$982$555$298$155$78$21
49 years$951$530$281$143$71$19
50 years$922$506$264$132$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $944,000, adding $5,900 every year, while hoping to spend $48,379 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: 65/24/11 Blend
56$944,000$944,000$944,000$944,000
57$1,046,374$996,342$981,710$1,111,465
58$1,101,629$993,688$963,122$1,152,968
59$1,160,899$989,282$942,291$1,192,078
60$1,224,542$982,988$919,088$1,233,580
61$1,292,951$974,660$893,384$1,277,704
62$1,366,558$964,145$865,038$1,324,704
63$1,445,838$951,279$833,908$1,374,864
64$1,531,311$935,889$799,841$1,428,496
65$1,623,549$917,792$762,680$1,485,944
66$1,723,180$896,793$722,259$1,547,593
67$1,830,896$872,687$678,407$1,613,866
68$1,947,455$845,257$630,941$1,685,231
69$2,073,693$814,272$579,675$1,762,206
70$2,210,526$779,487$524,410$1,845,366
71$2,358,963$740,646$464,941$1,935,344
72$2,520,114$697,474$401,054$2,032,843
73$2,695,200$649,685$332,523$2,138,639
74$2,885,562$596,971$259,115$2,253,591
75$3,092,678$539,012$180,584$2,378,646
76$3,318,173$475,465$96,675$2,514,855
77$3,563,835$405,970$7,122$2,663,377
78$3,831,631$330,148$0$2,825,495
79$4,123,727$247,595$0$3,013,007
80$4,442,508$157,887$0$3,218,665
81$4,790,595$60,576$0$3,443,399
82$5,170,879$0$0$3,689,158
83$5,586,539$0$0$3,969,928
84$6,041,075$0$0$4,294,514
85$6,538,341$0$0$4,649,676
86$7,082,584$0$0$5,038,453
87$7,678,474$0$0$5,464,194
88$8,331,160$0$0$5,930,582
89$9,046,309$0$0$6,441,676
90$9,830,161$0$0$7,001,947
91$10,689,593$0$0$7,616,316
92$11,632,174$0$0$8,290,207
93$12,666,244$0$0$9,029,591
94$13,800,988$0$0$9,841,046
95$15,046,523$0$0$10,731,819
96$16,413,996$0$0$11,709,890
97$17,915,681$0$0$12,784,052
98$19,565,103$0$0$13,963,991
99$21,377,160$0$0$15,260,377
100$23,368,264$0$0$16,684,964