Can I retire at age 57 with 980,000?

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 $980,000?

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$80,927$80,207$79,503$78,817$78,147$75,888
2 years$40,063$39,317$38,594$37,893$37,213$34,955
3 years$26,443$25,694$24,973$24,278$23,609$21,424
4 years$19,635$18,888$18,174$17,491$16,838$14,741
5 years$15,551$14,808$14,104$13,435$12,800$10,798
6 years$12,829$12,092$11,398$10,744$10,128$8,222
7 years$10,886$10,155$9,472$8,833$8,237$6,427
8 years$9,429$8,705$8,033$7,410$6,833$5,118
9 years$8,296$7,579$6,919$6,312$5,755$4,133
10 years$7,391$6,680$6,032$5,441$4,903$3,372
11 years$6,650$5,947$5,310$4,735$4,217$2,775
12 years$6,034$5,338$4,713$4,153$3,654$2,298
13 years$5,513$4,824$4,211$3,667$3,187$1,913
14 years$5,066$4,385$3,783$3,255$2,793$1,599
15 years$4,680$4,006$3,416$2,903$2,460$1,341
16 years$4,342$3,675$3,097$2,599$2,174$1,128
17 years$4,044$3,385$2,818$2,335$1,927$952
18 years$3,779$3,128$2,572$2,105$1,714$804
19 years$3,543$2,899$2,355$1,902$1,528$680
20 years$3,331$2,693$2,161$1,722$1,364$577
21 years$3,139$2,509$1,988$1,563$1,221$489
22 years$2,964$2,342$1,832$1,421$1,094$416
23 years$2,806$2,190$1,692$1,294$982$353
24 years$2,660$2,052$1,565$1,181$883$300
25 years$2,527$1,926$1,449$1,078$795$256
26 years$2,403$1,810$1,344$986$716$218
27 years$2,290$1,703$1,248$902$645$185
28 years$2,184$1,605$1,160$827$582$158
29 years$2,086$1,514$1,080$758$526$135
30 years$1,995$1,430$1,006$696$475$115
31 years$1,910$1,352$938$639$430$98
32 years$1,830$1,279$875$587$389$84
33 years$1,755$1,211$817$540$352$71
34 years$1,685$1,148$763$497$318$61
35 years$1,619$1,089$713$457$288$52
36 years$1,556$1,034$667$421$261$44
37 years$1,498$982$625$388$237$38
38 years$1,442$933$585$358$215$32
39 years$1,390$887$548$330$195$28
40 years$1,340$844$514$304$177$24
41 years$1,293$803$482$281$160$20
42 years$1,248$765$452$259$145$17
43 years$1,205$729$424$239$132$15
44 years$1,164$695$398$221$120$13
45 years$1,126$663$374$204$109$11
46 years$1,089$632$351$188$99$9
47 years$1,054$603$330$174$90$8
48 years$1,020$576$310$161$81$7
49 years$988$550$291$149$74$6
50 years$957$525$274$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $980,000, adding $2,833 every year, while hoping to spend $22,937 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: 72/22/6 Blend
56$980,000$980,000$980,000$980,000
57$1,082,882$1,030,942$1,015,752$1,159,858
58$1,168,931$1,057,054$1,025,375$1,237,112
59$1,262,989$1,083,676$1,034,552$1,318,520
60$1,365,847$1,110,809$1,043,243$1,407,001
61$1,478,379$1,138,455$1,051,407$1,503,245
62$1,601,546$1,166,611$1,059,001$1,608,012
63$1,736,405$1,195,276$1,065,979$1,722,138
64$1,884,122$1,224,448$1,072,293$1,846,544
65$2,045,980$1,254,124$1,077,893$1,982,244
66$2,223,393$1,284,299$1,082,725$2,130,356
67$2,417,917$1,314,967$1,086,734$2,292,110
68$2,631,266$1,346,122$1,089,860$2,468,861
69$2,865,328$1,377,755$1,092,044$2,662,101
70$3,122,183$1,409,856$1,093,219$2,873,475
71$3,404,121$1,442,416$1,093,318$3,104,793
72$3,713,668$1,475,420$1,092,270$3,358,050
73$4,053,601$1,508,854$1,090,000$3,635,444
74$4,426,983$1,542,703$1,086,430$3,939,396
75$4,837,187$1,576,948$1,081,477$4,272,574
76$5,287,930$1,611,568$1,075,057$4,637,915
77$5,783,306$1,646,541$1,067,077$5,038,658
78$6,327,823$1,681,842$1,057,445$5,478,369
79$6,926,452$1,717,444$1,046,060$5,960,978
80$7,584,667$1,753,315$1,032,820$6,490,817
81$8,308,499$1,789,423$1,017,615$7,072,655
82$9,104,592$1,825,731$1,000,332$7,711,750
83$9,980,269$1,862,201$980,852$8,413,896
84$10,943,596$1,898,788$959,049$9,185,473
85$12,003,460$1,935,446$934,795$10,033,516
86$13,169,655$1,972,124$907,952$10,965,775
87$14,452,969$2,008,768$878,378$11,990,788
88$15,865,291$2,045,317$845,923$13,117,967
89$17,419,722$2,081,708$810,432$14,357,680
90$19,130,693$2,117,872$771,742$15,721,353
91$21,014,110$2,153,734$729,681$17,221,578
92$23,087,496$2,189,213$684,072$18,872,229
93$25,370,160$2,224,225$634,728$20,688,597
94$27,883,380$2,258,675$581,456$22,687,530
95$30,650,601$2,292,466$524,050$24,887,594
96$33,697,656$2,325,491$462,300$27,309,251
97$37,053,013$2,357,636$395,983$29,975,047
98$40,748,039$2,388,779$324,867$32,909,828
99$44,817,300$2,418,791$248,712$36,140,975
100$49,298,884$2,447,531$167,263$39,698,662