Can I retire at age 57 with 966,000?

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 $966,000?

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$79,771$79,061$78,368$77,691$77,030$75,942
2 years$39,491$38,755$38,043$37,351$36,681$35,587
3 years$26,066$25,327$24,616$23,931$23,272$22,205
4 years$19,354$18,618$17,914$17,241$16,598$15,567
5 years$15,329$14,597$13,902$13,243$12,617$11,626
6 years$12,646$11,919$11,235$10,590$9,984$9,033
7 years$10,730$10,010$9,336$8,707$8,119$7,209
8 years$9,294$8,580$7,918$7,304$6,736$5,866
9 years$8,178$7,471$6,820$6,221$5,673$4,843
10 years$7,285$6,585$5,946$5,363$4,833$4,044
11 years$6,555$5,862$5,234$4,667$4,157$3,406
12 years$5,948$5,262$4,645$4,094$3,602$2,889
13 years$5,434$4,755$4,150$3,614$3,141$2,465
14 years$4,994$4,322$3,729$3,208$2,754$2,113
15 years$4,613$3,948$3,367$2,861$2,424$1,819
16 years$4,280$3,623$3,053$2,562$2,143$1,571
17 years$3,986$3,336$2,778$2,302$1,900$1,360
18 years$3,725$3,083$2,536$2,075$1,689$1,181
19 years$3,493$2,857$2,321$1,874$1,506$1,027
20 years$3,283$2,655$2,130$1,698$1,345$895
21 years$3,094$2,473$1,960$1,541$1,204$781
22 years$2,922$2,308$1,806$1,401$1,079$683
23 years$2,766$2,159$1,668$1,276$968$597
24 years$2,622$2,023$1,542$1,164$870$523
25 years$2,490$1,898$1,428$1,063$783$459
26 years$2,369$1,784$1,325$972$706$402
27 years$2,257$1,679$1,230$889$636$353
28 years$2,153$1,582$1,144$815$574$310
29 years$2,056$1,493$1,064$747$518$272
30 years$1,966$1,410$991$686$468$239
31 years$1,882$1,333$924$630$423$211
32 years$1,804$1,261$862$579$383$185
33 years$1,730$1,194$805$532$347$163
34 years$1,661$1,132$752$490$314$143
35 years$1,596$1,073$703$451$284$126
36 years$1,534$1,019$658$415$258$111
37 years$1,476$968$616$383$233$98
38 years$1,422$920$577$353$212$86
39 years$1,370$874$540$325$192$76
40 years$1,321$832$506$300$174$67
41 years$1,274$792$475$277$158$59
42 years$1,230$754$445$255$143$52
43 years$1,188$719$418$236$130$46
44 years$1,148$685$392$218$118$40
45 years$1,110$653$368$201$107$36
46 years$1,073$623$346$186$97$31
47 years$1,038$595$325$172$88$28
48 years$1,005$568$305$159$80$24
49 years$974$542$287$146$73$22
50 years$943$518$270$135$66$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $966,000, adding $6,837 every year, while hoping to spend $30,762 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: 32/41/27 Blend
56$966,000$966,000$966,000$966,000
57$1,071,584$1,020,386$1,005,413$1,096,861
58$1,148,155$1,037,655$1,006,364$1,134,013
59$1,231,506$1,054,738$1,006,316$1,170,804
60$1,322,294$1,071,595$1,005,202$1,209,824
61$1,421,246$1,088,182$1,002,955$1,251,293
62$1,529,160$1,104,449$999,500$1,295,450
63$1,646,913$1,120,346$994,763$1,342,562
64$1,775,474$1,135,818$988,662$1,392,924
65$1,915,906$1,150,807$981,116$1,446,863
66$2,069,380$1,165,249$972,036$1,504,741
67$2,237,188$1,179,077$961,330$1,566,959
68$2,420,750$1,192,220$948,903$1,633,959
69$2,621,628$1,204,601$934,653$1,706,232
70$2,841,546$1,216,139$918,476$1,784,322
71$3,082,400$1,226,745$900,261$1,868,828
72$3,346,278$1,236,329$879,893$1,960,415
73$3,635,480$1,244,791$857,251$2,059,819
74$3,952,539$1,252,025$832,209$2,167,852
75$4,300,244$1,257,921$804,634$2,285,412
76$4,681,669$1,262,359$774,389$2,413,494
77$5,100,197$1,265,212$741,329$2,553,197
78$5,559,556$1,266,347$705,302$2,705,736
79$6,063,853$1,265,620$666,152$2,872,452
80$6,617,610$1,262,880$623,713$3,054,830
81$7,225,811$1,257,966$577,812$3,254,510
82$7,893,945$1,250,707$528,269$3,473,304
83$8,628,058$1,240,922$474,897$3,713,214
84$9,434,811$1,228,418$417,498$3,976,452
85$10,321,545$1,212,993$355,866$4,265,460
86$11,296,343$1,194,431$289,788$4,582,937
87$12,368,113$1,172,501$219,040$4,931,865
88$13,546,670$1,146,963$143,387$5,315,533
89$14,842,825$1,117,559$62,585$5,737,577
90$16,268,492$1,084,018$0$6,202,010
91$17,836,795$1,046,052$0$6,720,074
92$19,562,196$1,003,356$0$7,309,533
93$21,460,628$955,609$0$7,957,818
94$23,549,648$902,470$0$8,670,972
95$25,848,599$843,577$0$9,455,661
96$28,378,794$778,551$0$10,319,236
97$31,163,720$706,988$0$11,269,806
98$34,229,252$628,463$0$12,316,311
99$37,603,903$542,525$0$13,468,613
100$41,319,091$448,700$0$14,737,584