Can I retire at age 57 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$80,680$79,961$79,260$78,576$77,907$75,656
2 years$39,940$39,197$38,476$37,777$37,099$34,848
3 years$26,362$25,615$24,896$24,204$23,537$21,358
4 years$19,575$18,830$18,118$17,438$16,787$14,696
5 years$15,503$14,763$14,060$13,394$12,761$10,765
6 years$12,790$12,055$11,363$10,711$10,097$8,197
7 years$10,852$10,124$9,443$8,806$8,212$6,407
8 years$9,400$8,678$8,008$7,387$6,813$5,102
9 years$8,271$7,556$6,897$6,292$5,737$4,120
10 years$7,368$6,660$6,013$5,424$4,888$3,362
11 years$6,630$5,929$5,294$4,721$4,204$2,766
12 years$6,015$5,322$4,698$4,141$3,643$2,291
13 years$5,496$4,809$4,198$3,655$3,177$1,907
14 years$5,051$4,371$3,772$3,245$2,785$1,594
15 years$4,665$3,993$3,405$2,894$2,452$1,337
16 years$4,328$3,664$3,087$2,591$2,167$1,125
17 years$4,032$3,374$2,809$2,328$1,922$949
18 years$3,768$3,118$2,565$2,098$1,709$802
19 years$3,532$2,890$2,348$1,896$1,523$678
20 years$3,321$2,685$2,155$1,717$1,360$575
21 years$3,129$2,501$1,982$1,558$1,217$488
22 years$2,955$2,335$1,827$1,417$1,091$414
23 years$2,797$2,184$1,687$1,290$979$352
24 years$2,652$2,046$1,560$1,177$880$300
25 years$2,519$1,920$1,445$1,075$792$255
26 years$2,396$1,805$1,340$983$714$217
27 years$2,283$1,698$1,244$900$643$185
28 years$2,178$1,600$1,157$824$580$158
29 years$2,080$1,510$1,076$756$524$134
30 years$1,989$1,426$1,003$694$474$115
31 years$1,904$1,348$935$637$428$98
32 years$1,824$1,275$872$585$387$83
33 years$1,750$1,208$814$538$351$71
34 years$1,680$1,145$761$495$317$61
35 years$1,614$1,086$711$456$287$52
36 years$1,552$1,030$665$420$260$44
37 years$1,493$979$623$387$236$38
38 years$1,438$930$583$357$214$32
39 years$1,385$884$546$329$194$27
40 years$1,336$841$512$303$176$23
41 years$1,289$801$480$280$160$20
42 years$1,244$763$450$258$145$17
43 years$1,201$727$423$238$132$15
44 years$1,161$693$397$220$119$12
45 years$1,122$661$373$203$108$11
46 years$1,085$630$350$188$98$9
47 years$1,050$601$329$173$89$8
48 years$1,017$574$309$160$81$7
49 years$985$548$290$148$74$6
50 years$954$524$273$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $977,000, adding $3,808 every year, while hoping to spend $58,802 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: 68/26/6 Blend
56$977,000$977,000$977,000$977,000
57$1,080,582$1,028,801$1,013,657$1,152,867
58$1,128,236$1,016,647$985,050$1,189,081
59$1,178,781$1,001,927$953,514$1,221,152
60$1,232,448$984,453$918,888$1,254,626
61$1,289,492$964,026$881,005$1,289,629
62$1,350,192$940,435$839,690$1,326,301
63$1,414,852$913,457$794,760$1,364,798
64$1,483,806$882,855$746,024$1,405,294
65$1,557,420$848,380$693,281$1,447,984
66$1,636,093$809,768$636,323$1,493,081
67$1,720,265$766,737$574,930$1,540,826
68$1,810,418$718,993$508,876$1,591,484
69$1,907,079$666,221$437,921$1,645,351
70$2,010,827$608,092$361,818$1,702,756
71$2,122,298$544,255$280,305$1,764,062
72$2,242,189$474,341$193,113$1,829,677
73$2,371,267$397,959$99,957$1,900,050
74$2,510,373$314,695$542$1,975,680
75$2,660,431$224,115$0$2,057,123
76$2,822,456$125,757$0$2,151,751
77$2,997,562$19,136$0$2,253,965
78$3,186,977$0$0$2,364,510
79$3,392,048$0$0$2,511,788
80$3,614,256$0$0$2,677,355
81$3,855,230$0$0$2,856,954
82$4,116,762$0$0$3,051,927
83$4,400,821$0$0$3,263,750
84$4,709,575$0$0$3,494,045
85$5,045,408$0$0$3,744,598
86$5,410,942$0$0$4,017,374
87$5,809,065$0$0$4,314,534
88$6,242,951$0$0$4,638,457
89$6,716,097$0$0$4,991,761
90$7,232,349$0$0$5,377,328
91$7,795,943$0$0$5,798,329
92$8,411,538$0$0$6,258,257
93$9,084,266$0$0$6,760,955
94$9,819,778$0$0$7,310,656
95$10,624,293$0$0$7,912,019
96$11,504,660$0$0$8,570,174
97$12,468,420$0$0$9,290,772
98$13,523,877$0$0$10,080,033
99$14,680,176$0$0$10,944,810
100$15,947,390$0$0$11,892,648