Can I retire at age 57 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$80,102$79,388$78,692$78,013$77,349$76,573
2 years$39,654$38,916$38,200$37,506$36,833$36,051
3 years$26,174$25,432$24,718$24,030$23,368$22,605
4 years$19,435$18,695$17,988$17,313$16,666$15,928
5 years$15,392$14,657$13,960$13,298$12,670$11,958
6 years$12,698$11,969$11,282$10,634$10,025$9,341
7 years$10,775$10,051$9,375$8,743$8,153$7,497
8 years$9,333$8,616$7,951$7,334$6,764$6,135
9 years$8,212$7,502$6,848$6,247$5,696$5,095
10 years$7,315$6,612$5,970$5,385$4,853$4,280
11 years$6,583$5,887$5,256$4,687$4,174$3,627
12 years$5,972$5,283$4,665$4,111$3,617$3,097
13 years$5,456$4,775$4,168$3,629$3,154$2,659
14 years$5,015$4,340$3,745$3,222$2,765$2,295
15 years$4,632$3,965$3,381$2,873$2,434$1,989
16 years$4,297$3,638$3,065$2,573$2,152$1,729
17 years$4,003$3,350$2,789$2,311$1,908$1,508
18 years$3,741$3,096$2,546$2,083$1,696$1,319
19 years$3,507$2,869$2,331$1,882$1,512$1,156
20 years$3,297$2,666$2,139$1,705$1,350$1,015
21 years$3,107$2,483$1,968$1,547$1,209$892
22 years$2,934$2,318$1,814$1,407$1,083$786
23 years$2,777$2,168$1,674$1,281$972$693
24 years$2,633$2,031$1,549$1,168$874$611
25 years$2,501$1,906$1,434$1,067$786$540
26 years$2,379$1,792$1,330$976$708$477
27 years$2,266$1,686$1,235$893$639$422
28 years$2,162$1,589$1,148$818$576$374
29 years$2,065$1,499$1,069$750$520$331
30 years$1,975$1,415$995$689$470$294
31 years$1,890$1,338$928$632$425$260
32 years$1,811$1,266$866$581$385$231
33 years$1,737$1,199$808$535$348$205
34 years$1,668$1,136$755$492$315$182
35 years$1,602$1,078$706$453$285$161
36 years$1,541$1,023$661$417$259$143
37 years$1,482$972$618$384$234$127
38 years$1,427$923$579$354$212$113
39 years$1,375$878$542$326$193$101
40 years$1,326$835$508$301$175$89
41 years$1,279$795$477$278$159$79
42 years$1,235$757$447$256$144$71
43 years$1,193$722$420$237$131$63
44 years$1,152$688$394$219$119$56
45 years$1,114$656$370$202$108$50
46 years$1,078$626$347$186$98$44
47 years$1,043$597$326$172$89$39
48 years$1,009$570$307$159$81$35
49 years$978$544$288$147$73$31
50 years$947$520$271$136$66$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $970,000, adding $6,317 every year, while hoping to spend $51,522 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: 78/6/16 Blend
56$970,000$970,000$970,000$970,000
57$1,075,456$1,024,046$1,009,011$1,155,150
58$1,130,333$1,019,405$987,994$1,203,942
59$1,189,082$1,012,810$964,546$1,250,299
60$1,252,041$1,004,111$938,531$1,299,723
61$1,319,585$993,148$909,808$1,352,503
62$1,392,123$979,753$878,227$1,408,955
63$1,470,105$963,746$843,633$1,469,429
64$1,554,025$944,939$805,864$1,534,312
65$1,644,425$923,130$764,749$1,604,027
66$1,741,900$898,108$720,112$1,679,045
67$1,847,105$869,646$671,767$1,759,883
68$1,960,757$837,506$619,519$1,847,112
69$2,083,648$801,437$563,166$1,941,362
70$2,216,644$761,172$502,496$2,043,327
71$2,360,701$716,428$437,289$2,153,774
72$2,516,867$666,908$367,313$2,273,547
73$2,686,296$612,295$292,327$2,403,579
74$2,870,258$552,257$212,079$2,544,898
75$3,070,147$486,441$126,307$2,698,638
76$3,287,499$414,474$34,735$2,866,051
77$3,524,004$335,962$0$3,048,516
78$3,781,519$250,491$0$3,258,308
79$4,062,090$157,621$0$3,493,382
80$4,367,967$56,888$0$3,749,705
81$4,701,627$0$0$4,029,375
82$5,065,796$0$0$4,338,149
83$5,463,476$0$0$4,679,468
84$5,897,969$0$0$5,052,415
85$6,372,914$0$0$5,460,115
86$6,892,313$0$0$5,906,010
87$7,460,575$0$0$6,393,888
88$8,082,556$0$0$6,927,921
89$8,763,601$0$0$7,512,705
90$9,509,595$0$0$8,153,298
91$10,327,023$0$0$8,855,271
92$11,223,023$0$0$9,624,762
93$12,205,457$0$0$10,468,528
94$13,282,988$0$0$11,394,012
95$14,465,152$0$0$12,409,412
96$15,762,458$0$0$13,523,760
97$17,186,477$0$0$14,747,002
98$18,749,958$0$0$16,090,095
99$20,466,943$0$0$17,565,108
100$22,352,902$0$0$19,185,338