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%19.9%
1 years$80,927$80,207$79,503$78,817$78,147$75,046
2 years$40,063$39,317$38,594$37,893$37,213$34,127
3 years$26,443$25,694$24,973$24,278$23,609$20,636
4 years$19,635$18,888$18,174$17,491$16,838$14,000
5 years$15,551$14,808$14,104$13,435$12,800$10,105
6 years$12,829$12,092$11,398$10,744$10,128$7,577
7 years$10,886$10,155$9,472$8,833$8,237$5,828
8 years$9,429$8,705$8,033$7,410$6,833$4,565
9 years$8,296$7,579$6,919$6,312$5,755$3,624
10 years$7,391$6,680$6,032$5,441$4,903$2,905
11 years$6,650$5,947$5,310$4,735$4,217$2,347
12 years$6,034$5,338$4,713$4,153$3,654$1,908
13 years$5,513$4,824$4,211$3,667$3,187$1,558
14 years$5,066$4,385$3,783$3,255$2,793$1,277
15 years$4,680$4,006$3,416$2,903$2,460$1,051
16 years$4,342$3,675$3,097$2,599$2,174$866
17 years$4,044$3,385$2,818$2,335$1,927$715
18 years$3,779$3,128$2,572$2,105$1,714$592
19 years$3,543$2,899$2,355$1,902$1,528$491
20 years$3,331$2,693$2,161$1,722$1,364$407
21 years$3,139$2,509$1,988$1,563$1,221$338
22 years$2,964$2,342$1,832$1,421$1,094$281
23 years$2,806$2,190$1,692$1,294$982$233
24 years$2,660$2,052$1,565$1,181$883$194
25 years$2,527$1,926$1,449$1,078$795$162
26 years$2,403$1,810$1,344$986$716$135
27 years$2,290$1,703$1,248$902$645$112
28 years$2,184$1,605$1,160$827$582$93
29 years$2,086$1,514$1,080$758$526$78
30 years$1,995$1,430$1,006$696$475$65
31 years$1,910$1,352$938$639$430$54
32 years$1,830$1,279$875$587$389$45
33 years$1,755$1,211$817$540$352$38
34 years$1,685$1,148$763$497$318$31
35 years$1,619$1,089$713$457$288$26
36 years$1,556$1,034$667$421$261$22
37 years$1,498$982$625$388$237$18
38 years$1,442$933$585$358$215$15
39 years$1,390$887$548$330$195$13
40 years$1,340$844$514$304$177$11
41 years$1,293$803$482$281$160$9
42 years$1,248$765$452$259$145$7
43 years$1,205$729$424$239$132$6
44 years$1,164$695$398$221$120$5
45 years$1,126$663$374$204$109$4
46 years$1,089$632$351$188$99$4
47 years$1,054$603$330$174$90$3
48 years$1,020$576$310$161$81$2
49 years$988$550$291$149$74$2
50 years$957$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $980,000, adding $2,425 every year, while hoping to spend $44,765 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: 75/20/5 Blend
56$980,000$980,000$980,000$980,000
57$1,082,461$1,030,521$1,015,331$1,163,105
58$1,145,243$1,033,387$1,001,715$1,219,302
59$1,212,928$1,034,893$986,143$1,274,886
60$1,285,969$1,034,926$968,501$1,334,486
61$1,364,864$1,033,363$948,672$1,398,481
62$1,450,159$1,030,077$926,532$1,467,289
63$1,542,456$1,024,932$901,952$1,541,372
64$1,642,416$1,017,783$874,796$1,621,240
65$1,750,764$1,008,476$844,924$1,707,453
66$1,868,300$996,849$812,186$1,800,629
67$1,995,901$982,729$776,429$1,901,451
68$2,134,535$965,935$737,491$2,010,670
69$2,285,263$946,271$695,203$2,129,116
70$2,449,255$923,534$649,387$2,257,703
71$2,627,798$897,505$599,860$2,397,440
72$2,822,306$867,956$546,429$2,549,438
73$3,034,338$834,643$488,891$2,714,924
74$3,265,609$797,308$427,037$2,895,250
75$3,518,004$755,680$360,646$3,091,908
76$3,793,602$709,470$289,490$3,306,541
77$4,094,690$658,374$213,327$3,540,965
78$4,423,783$602,069$131,909$3,797,179
79$4,783,654$540,216$44,973$4,077,388
80$5,177,354$472,454$0$4,384,027
81$5,608,244$398,404$0$4,722,327
82$6,080,022$317,663$0$5,095,424
83$6,596,764$229,808$0$5,504,193
84$7,162,955$134,390$0$5,952,250
85$7,783,538$30,936$0$6,443,579
86$8,463,953$0$0$6,982,573
87$9,210,196$0$0$7,591,914
88$10,028,867$0$0$8,267,906
89$10,927,239$0$0$9,009,750
90$11,913,321$0$0$9,824,065
91$12,995,935$0$0$10,718,144
92$14,184,800$0$0$11,700,017
93$15,490,624$0$0$12,778,533
94$16,925,199$0$0$13,963,438
95$18,501,518$0$0$15,265,471
96$20,233,895$0$0$16,696,461
97$22,138,100$0$0$18,269,440
98$24,231,504$0$0$19,998,766
99$26,533,248$0$0$21,900,257
100$29,064,419$0$0$23,991,341