Can I retire at age 57 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$79,441$78,733$78,043$77,369$76,711$75,627
2 years$39,327$38,595$37,885$37,197$36,529$35,439
3 years$25,958$25,222$24,514$23,832$23,176$22,114
4 years$19,274$18,541$17,840$17,170$16,529$15,503
5 years$15,265$14,536$13,845$13,188$12,565$11,578
6 years$12,593$11,870$11,188$10,547$9,942$8,996
7 years$10,686$9,968$9,298$8,671$8,086$7,180
8 years$9,256$8,545$7,885$7,274$6,708$5,842
9 years$8,144$7,440$6,791$6,196$5,649$4,823
10 years$7,255$6,558$5,921$5,341$4,813$4,027
11 years$6,528$5,838$5,213$4,648$4,140$3,392
12 years$5,923$5,240$4,626$4,077$3,587$2,877
13 years$5,411$4,735$4,133$3,599$3,128$2,455
14 years$4,973$4,304$3,714$3,195$2,742$2,104
15 years$4,594$3,932$3,353$2,849$2,414$1,811
16 years$4,262$3,608$3,040$2,551$2,134$1,564
17 years$3,970$3,322$2,766$2,292$1,892$1,355
18 years$3,710$3,070$2,525$2,066$1,682$1,176
19 years$3,478$2,845$2,312$1,867$1,499$1,023
20 years$3,270$2,644$2,122$1,691$1,339$892
21 years$3,081$2,463$1,951$1,534$1,199$778
22 years$2,910$2,299$1,799$1,395$1,074$680
23 years$2,754$2,150$1,661$1,271$964$595
24 years$2,611$2,015$1,536$1,159$867$521
25 years$2,480$1,891$1,422$1,058$780$457
26 years$2,359$1,777$1,319$968$703$401
27 years$2,248$1,672$1,225$886$633$352
28 years$2,144$1,576$1,139$812$572$309
29 years$2,048$1,486$1,060$744$516$271
30 years$1,958$1,404$987$683$466$239
31 years$1,875$1,327$920$627$422$210
32 years$1,796$1,256$859$576$381$185
33 years$1,723$1,189$802$530$345$162
34 years$1,654$1,127$749$488$312$143
35 years$1,589$1,069$700$449$283$126
36 years$1,528$1,015$655$414$256$111
37 years$1,470$964$613$381$232$98
38 years$1,416$916$574$351$211$86
39 years$1,364$871$538$324$191$76
40 years$1,315$829$504$299$173$67
41 years$1,269$789$473$276$157$59
42 years$1,225$751$444$254$143$52
43 years$1,183$716$416$235$129$46
44 years$1,143$682$391$217$118$40
45 years$1,105$651$367$200$107$35
46 years$1,069$621$345$185$97$31
47 years$1,034$592$324$171$88$28
48 years$1,001$565$304$158$80$24
49 years$969$540$286$146$73$21
50 years$939$516$269$135$66$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $962,000, adding $4,349 every year, while hoping to spend $48,419 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: 47/32/21 Blend
56$962,000$962,000$962,000$962,000
57$1,064,610$1,013,624$998,713$1,108,096
58$1,121,683$1,011,774$980,652$1,137,073
59$1,182,954$1,008,211$960,364$1,163,323
60$1,248,801$1,002,799$937,722$1,190,815
61$1,319,638$995,395$912,595$1,219,688
62$1,395,920$985,848$884,845$1,250,095
63$1,478,144$973,995$854,328$1,282,211
64$1,566,861$959,667$820,894$1,316,228
65$1,662,672$942,682$784,386$1,352,366
66$1,766,240$922,849$744,638$1,390,866
67$1,878,292$899,964$701,478$1,431,999
68$1,999,627$873,812$654,728$1,476,070
69$2,131,126$844,166$604,198$1,523,417
70$2,273,756$810,784$549,693$1,574,417
71$2,428,579$773,413$491,008$1,629,491
72$2,596,765$731,781$427,928$1,689,107
73$2,779,601$685,605$360,230$1,753,789
74$2,978,503$634,581$287,680$1,824,117
75$3,195,027$578,393$210,034$1,900,739
76$3,430,887$516,701$127,037$1,984,373
77$3,687,969$449,151$38,424$2,075,818
78$3,968,347$375,365$0$2,175,965
79$4,274,307$294,946$0$2,298,378
80$4,608,362$207,474$0$2,441,580
81$4,973,280$112,506$0$2,598,237
82$5,372,108$9,572$0$2,769,769
83$5,808,201$0$0$2,957,746
84$6,285,251$0$0$3,199,760
85$6,807,326$0$0$3,468,411
86$7,378,903$0$0$3,762,646
87$8,004,913$0$0$4,085,018
88$8,690,788$0$0$4,438,337
89$9,442,507$0$0$4,825,699
90$10,266,657$0$0$5,250,513
91$11,170,493$0$0$5,716,535
92$12,162,003$0$0$6,227,901
93$13,249,990$0$0$6,789,167
94$14,444,146$0$0$7,405,352
95$15,755,150$0$0$8,081,985
96$17,194,764$0$0$8,825,154
97$18,775,945$0$0$9,641,568
98$20,512,967$0$0$10,538,619
99$22,421,554$0$0$11,524,448
100$24,519,030$0$0$12,608,025