Can I retire at age 57 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$78,202$77,506$76,826$76,163$75,515$73,481
2 years$38,714$37,993$37,294$36,617$35,960$33,925
3 years$25,553$24,829$24,132$23,461$22,814$20,842
4 years$18,974$18,252$17,562$16,902$16,271$14,378
5 years$15,027$14,310$13,629$12,982$12,369$10,559
6 years$12,397$11,685$11,014$10,382$9,787$8,062
7 years$10,519$9,813$9,153$8,536$7,960$6,320
8 years$9,111$8,412$7,762$7,160$6,603$5,048
9 years$8,017$7,324$6,686$6,099$5,561$4,088
10 years$7,142$6,456$5,829$5,257$4,738$3,346
11 years$6,427$5,747$5,131$4,576$4,075$2,762
12 years$5,831$5,158$4,554$4,013$3,531$2,295
13 years$5,327$4,661$4,069$3,543$3,079$1,917
14 years$4,896$4,237$3,656$3,145$2,699$1,608
15 years$4,522$3,871$3,301$2,805$2,377$1,354
16 years$4,196$3,551$2,993$2,512$2,101$1,143
17 years$3,908$3,271$2,723$2,257$1,863$967
18 years$3,652$3,022$2,486$2,034$1,656$820
19 years$3,424$2,801$2,276$1,838$1,476$697
20 years$3,219$2,603$2,088$1,664$1,318$593
21 years$3,033$2,424$1,921$1,510$1,180$505
22 years$2,865$2,263$1,771$1,373$1,058$431
23 years$2,711$2,117$1,635$1,251$949$367
24 years$2,571$1,983$1,512$1,141$853$314
25 years$2,442$1,861$1,400$1,042$768$268
26 years$2,323$1,749$1,299$953$692$229
27 years$2,213$1,646$1,206$872$624$196
28 years$2,111$1,551$1,121$799$563$168
29 years$2,016$1,463$1,043$733$508$144
30 years$1,928$1,382$972$672$459$123
31 years$1,845$1,306$906$617$415$105
32 years$1,768$1,236$845$567$375$90
33 years$1,696$1,171$789$522$340$77
34 years$1,628$1,109$737$480$308$66
35 years$1,564$1,052$689$442$279$57
36 years$1,504$999$645$407$252$49
37 years$1,447$949$604$375$229$42
38 years$1,394$902$565$346$207$36
39 years$1,343$857$530$319$188$31
40 years$1,295$816$496$294$171$26
41 years$1,249$776$465$271$155$23
42 years$1,206$739$437$250$140$19
43 years$1,164$705$410$231$127$17
44 years$1,125$672$385$213$116$14
45 years$1,088$640$361$197$105$12
46 years$1,052$611$339$182$95$10
47 years$1,018$583$319$168$87$9
48 years$985$557$299$155$79$8
49 years$954$531$281$144$71$7
50 years$925$508$265$133$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $947,000, adding $2,517 every year, while hoping to spend $56,764 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: 39/35/26 Blend
56$947,000$947,000$947,000$947,000
57$1,046,190$995,999$981,321$1,078,833
58$1,092,505$984,407$953,799$1,091,221
59$1,141,642$970,344$923,452$1,099,147
60$1,193,828$953,629$890,126$1,106,612
61$1,249,313$934,072$853,660$1,113,612
62$1,308,369$911,467$813,884$1,120,143
63$1,371,295$885,602$770,622$1,126,207
64$1,438,419$856,247$723,688$1,131,812
65$1,510,097$823,163$672,891$1,136,972
66$1,586,722$786,094$618,029$1,141,707
67$1,668,725$744,770$558,890$1,146,047
68$1,756,578$698,906$495,256$1,150,031
69$1,850,797$648,200$426,895$1,153,709
70$1,951,950$592,334$353,568$1,157,144
71$2,060,661$530,971$275,024$1,160,411
72$2,177,613$463,753$191,002$1,163,605
73$2,303,557$390,304$101,228$1,166,837
74$2,439,318$310,227$5,418$1,170,238
75$2,585,802$223,102$0$1,173,963
76$2,744,004$128,484$0$1,205,057
77$2,915,018$25,905$0$1,240,218
78$3,100,045$0$0$1,278,277
79$3,300,408$0$0$1,352,394
80$3,517,559$0$0$1,443,640
81$3,753,095$0$0$1,542,723
82$4,008,774$0$0$1,650,395
83$4,286,526$0$0$1,767,483
84$4,588,479$0$0$1,894,901
85$4,916,970$0$0$2,033,650
86$5,274,571$0$0$2,184,834
87$5,664,114$0$0$2,349,666
88$6,088,714$0$0$2,529,484
89$6,551,799$0$0$2,725,758
90$7,057,142$0$0$2,940,107
91$7,608,899$0$0$3,174,314
92$8,211,640$0$0$3,430,341
93$8,870,399$0$0$3,710,349
94$9,590,719$0$0$4,016,716
95$10,378,702$0$0$4,352,062
96$11,241,064$0$0$4,719,271
97$12,185,206$0$0$5,121,518
98$13,219,273$0$0$5,562,303
99$14,352,236$0$0$6,045,478
100$15,593,977$0$0$6,575,284