Can I retire at age 57 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$80,515$79,797$79,098$78,415$77,748$75,593
2 years$39,859$39,116$38,397$37,699$37,023$34,867
3 years$26,309$25,563$24,845$24,154$23,489$21,401
4 years$19,535$18,791$18,081$17,402$16,752$14,748
5 years$15,472$14,733$14,032$13,366$12,735$10,819
6 years$12,764$12,030$11,340$10,689$10,077$8,252
7 years$10,830$10,103$9,423$8,788$8,195$6,461
8 years$9,381$8,660$7,992$7,372$6,799$5,155
9 years$8,254$7,540$6,883$6,279$5,725$4,170
10 years$7,353$6,646$6,001$5,413$4,878$3,409
11 years$6,617$5,917$5,283$4,711$4,196$2,810
12 years$6,003$5,311$4,689$4,132$3,636$2,332
13 years$5,485$4,799$4,189$3,648$3,170$1,945
14 years$5,040$4,362$3,764$3,238$2,779$1,629
15 years$4,656$3,985$3,398$2,888$2,447$1,370
16 years$4,320$3,656$3,081$2,586$2,163$1,155
17 years$4,023$3,367$2,804$2,323$1,918$976
18 years$3,760$3,112$2,559$2,094$1,705$826
19 years$3,525$2,884$2,343$1,892$1,520$701
20 years$3,314$2,680$2,150$1,714$1,357$595
21 years$3,123$2,496$1,978$1,555$1,215$506
22 years$2,949$2,330$1,823$1,414$1,089$431
23 years$2,791$2,179$1,683$1,288$977$367
24 years$2,647$2,042$1,557$1,174$879$313
25 years$2,514$1,916$1,442$1,073$791$267
26 years$2,391$1,801$1,337$981$712$228
27 years$2,278$1,695$1,242$898$642$195
28 years$2,173$1,597$1,154$822$579$166
29 years$2,076$1,507$1,074$754$523$142
30 years$1,985$1,423$1,000$692$473$122
31 years$1,900$1,345$933$636$427$104
32 years$1,820$1,273$870$584$387$89
33 years$1,746$1,205$813$537$350$76
34 years$1,676$1,142$759$494$317$65
35 years$1,610$1,083$710$455$287$56
36 years$1,549$1,028$664$419$260$48
37 years$1,490$977$622$386$236$41
38 years$1,435$928$582$356$214$35
39 years$1,383$883$545$328$194$30
40 years$1,333$840$511$303$176$26
41 years$1,286$799$479$279$159$22
42 years$1,241$761$450$258$145$19
43 years$1,199$725$422$238$131$16
44 years$1,158$691$396$220$119$14
45 years$1,120$659$372$203$108$12
46 years$1,083$629$349$187$98$10
47 years$1,048$600$328$173$89$9
48 years$1,015$573$308$160$81$7
49 years$983$547$290$148$74$6
50 years$952$523$272$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $975,000, adding $3,116 every year, while hoping to spend $56,145 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: 37/35/28 Blend
56$975,000$975,000$975,000$975,000
57$1,077,664$1,025,989$1,010,877$1,108,420
58$1,127,848$1,016,525$985,003$1,121,965
59$1,181,269$1,004,715$956,381$1,131,250
60$1,238,198$990,385$924,859$1,140,204
61$1,298,931$973,351$890,279$1,148,835
62$1,363,794$953,418$852,476$1,157,157
63$1,433,143$930,377$811,275$1,165,188
64$1,507,368$904,010$766,497$1,172,955
65$1,586,897$874,084$717,953$1,180,493
66$1,672,200$840,354$665,444$1,187,846
67$1,763,793$802,559$608,765$1,195,068
68$1,862,240$760,425$547,699$1,202,228
69$1,968,163$713,660$482,021$1,209,407
70$2,082,244$661,957$411,496$1,216,701
71$2,205,230$604,991$335,879$1,224,225
72$2,337,945$542,417$254,912$1,232,115
73$2,481,292$473,872$168,328$1,240,528
74$2,636,263$398,971$75,847$1,249,647
75$2,803,952$317,310$0$1,259,684
76$2,985,556$228,460$0$1,277,708
77$3,182,395$131,967$0$1,321,800
78$3,395,920$27,354$0$1,369,690
79$3,627,725$0$0$1,421,843
80$3,879,565$0$0$1,511,856
81$4,153,370$0$0$1,621,292
82$4,451,263$0$0$1,740,481
83$4,775,580$0$0$1,870,372
84$5,128,891$0$0$2,012,011
85$5,514,025$0$0$2,166,549
86$5,934,095$0$0$2,335,254
87$6,392,529$0$0$2,519,520
88$6,893,097$0$0$2,720,882
89$7,439,951$0$0$2,941,030
90$8,037,664$0$0$3,181,827
91$8,691,266$0$0$3,445,320
92$9,406,299$0$0$3,733,766
93$10,188,864$0$0$4,049,650
94$11,045,679$0$0$4,395,708
95$11,984,142$0$0$4,774,953
96$13,012,400$0$0$5,190,704
97$14,139,425$0$0$5,646,615
98$15,375,099$0$0$6,146,713
99$16,730,306$0$0$6,695,432
100$18,217,033$0$0$7,297,655