Can I retire at age 57 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$80,845$80,125$79,422$78,736$78,067$77,705
2 years$40,022$39,277$38,554$37,854$37,175$36,810
3 years$26,416$25,668$24,947$24,253$23,585$23,228
4 years$19,615$18,869$18,155$17,473$16,821$16,475
5 years$15,535$14,793$14,089$13,421$12,787$12,452
6 years$12,816$12,080$11,386$10,733$10,118$9,795
7 years$10,875$10,145$9,462$8,824$8,229$7,918
8 years$9,419$8,696$8,024$7,402$6,826$6,528
9 years$8,288$7,571$6,911$6,305$5,749$5,463
10 years$7,383$6,674$6,026$5,435$4,898$4,625
11 years$6,644$5,941$5,305$4,730$4,213$3,951
12 years$6,028$5,332$4,708$4,149$3,651$3,401
13 years$5,507$4,819$4,206$3,663$3,183$2,945
14 years$5,061$4,380$3,779$3,252$2,791$2,563
15 years$4,675$4,002$3,412$2,900$2,457$2,241
16 years$4,337$3,671$3,094$2,596$2,172$1,966
17 years$4,040$3,381$2,815$2,333$1,925$1,730
18 years$3,776$3,124$2,570$2,102$1,712$1,526
19 years$3,540$2,896$2,353$1,900$1,526$1,350
20 years$3,327$2,691$2,159$1,721$1,363$1,196
21 years$3,136$2,506$1,986$1,562$1,220$1,062
22 years$2,961$2,340$1,830$1,420$1,093$944
23 years$2,803$2,188$1,690$1,293$981$841
24 years$2,657$2,050$1,563$1,179$882$750
25 years$2,524$1,924$1,448$1,077$794$669
26 years$2,401$1,808$1,343$985$715$597
27 years$2,287$1,702$1,247$901$645$534
28 years$2,182$1,604$1,159$826$582$478
29 years$2,084$1,513$1,079$757$525$428
30 years$1,993$1,429$1,005$695$475$383
31 years$1,908$1,351$937$638$429$343
32 years$1,828$1,278$874$587$388$308
33 years$1,753$1,210$816$539$351$276
34 years$1,683$1,147$762$496$318$248
35 years$1,617$1,088$713$457$288$222
36 years$1,555$1,033$667$421$261$200
37 years$1,496$981$624$388$237$179
38 years$1,441$932$584$357$214$161
39 years$1,388$886$548$330$194$145
40 years$1,338$843$513$304$176$130
41 years$1,291$803$481$280$160$117
42 years$1,246$764$451$259$145$105
43 years$1,204$728$424$239$132$94
44 years$1,163$694$398$221$120$85
45 years$1,125$662$373$204$109$76
46 years$1,088$632$351$188$99$69
47 years$1,052$603$329$174$90$62
48 years$1,019$575$310$161$81$55
49 years$987$549$291$148$74$50
50 years$956$525$274$137$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $979,000, adding $4,671 every year, while hoping to spend $59,595 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: 54/18/28 Blend
56$979,000$979,000$979,000$979,000
57$1,083,676$1,031,789$1,016,615$1,133,531
58$1,130,802$1,018,938$987,263$1,155,654
59$1,180,738$1,003,460$954,930$1,173,238
60$1,233,707$985,163$919,454$1,191,189
61$1,289,954$963,845$880,664$1,209,565
62$1,349,746$939,290$838,383$1,228,435
63$1,413,375$911,270$792,424$1,247,875
64$1,481,162$879,545$742,593$1,267,974
65$1,553,458$843,860$688,686$1,288,835
66$1,630,646$803,944$630,493$1,310,572
67$1,713,147$759,513$567,790$1,333,320
68$1,801,423$710,264$500,346$1,357,229
69$1,895,979$655,878$427,918$1,382,469
70$1,997,371$596,018$350,256$1,409,234
71$2,106,207$530,327$267,093$1,437,743
72$2,223,154$458,428$178,155$1,468,243
73$2,348,947$379,922$83,155$1,501,011
74$2,484,391$294,389$0$1,536,361
75$2,630,369$201,384$0$1,580,090
76$2,787,852$100,438$0$1,654,013
77$2,957,909$0$0$1,733,802
78$3,141,710$0$0$1,821,827
79$3,340,546$0$0$1,938,646
80$3,555,831$0$0$2,065,207
81$3,789,124$0$0$2,202,434
82$4,042,136$0$0$2,351,347
83$4,316,752$0$0$2,513,062
84$4,615,041$0$0$2,688,812
85$4,939,282$0$0$2,879,950
86$5,291,981$0$0$3,087,965
87$5,675,895$0$0$3,314,498
88$6,094,059$0$0$3,561,351
89$6,549,811$0$0$3,830,509
90$7,046,826$0$0$4,124,157
91$7,589,147$0$0$4,444,700
92$8,181,227$0$0$4,794,784
93$8,827,966$0$0$5,177,324
94$9,534,758$0$0$5,595,527
95$10,307,543$0$0$6,052,926
96$11,152,859$0$0$6,553,409
97$12,077,907$0$0$7,101,258
98$13,090,615$0$0$7,701,189
99$14,199,713$0$0$8,358,395
100$15,414,815$0$0$9,078,593