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%19.1%
1 years$80,927$80,207$79,503$78,817$78,147$75,284
2 years$40,063$39,317$38,594$37,893$37,213$34,361
3 years$26,443$25,694$24,973$24,278$23,609$20,857
4 years$19,635$18,888$18,174$17,491$16,838$14,208
5 years$15,551$14,808$14,104$13,435$12,800$10,297
6 years$12,829$12,092$11,398$10,744$10,128$7,755
7 years$10,886$10,155$9,472$8,833$8,237$5,993
8 years$9,429$8,705$8,033$7,410$6,833$4,717
9 years$8,296$7,579$6,919$6,312$5,755$3,762
10 years$7,391$6,680$6,032$5,441$4,903$3,032
11 years$6,650$5,947$5,310$4,735$4,217$2,462
12 years$6,034$5,338$4,713$4,153$3,654$2,012
13 years$5,513$4,824$4,211$3,667$3,187$1,652
14 years$5,066$4,385$3,783$3,255$2,793$1,362
15 years$4,680$4,006$3,416$2,903$2,460$1,127
16 years$4,342$3,675$3,097$2,599$2,174$934
17 years$4,044$3,385$2,818$2,335$1,927$776
18 years$3,779$3,128$2,572$2,105$1,714$646
19 years$3,543$2,899$2,355$1,902$1,528$539
20 years$3,331$2,693$2,161$1,722$1,364$450
21 years$3,139$2,509$1,988$1,563$1,221$376
22 years$2,964$2,342$1,832$1,421$1,094$314
23 years$2,806$2,190$1,692$1,294$982$263
24 years$2,660$2,052$1,565$1,181$883$220
25 years$2,527$1,926$1,449$1,078$795$184
26 years$2,403$1,810$1,344$986$716$154
27 years$2,290$1,703$1,248$902$645$129
28 years$2,184$1,605$1,160$827$582$109
29 years$2,086$1,514$1,080$758$526$91
30 years$1,995$1,430$1,006$696$475$76
31 years$1,910$1,352$938$639$430$64
32 years$1,830$1,279$875$587$389$54
33 years$1,755$1,211$817$540$352$45
34 years$1,685$1,148$763$497$318$38
35 years$1,619$1,089$713$457$288$32
36 years$1,556$1,034$667$421$261$27
37 years$1,498$982$625$388$237$22
38 years$1,442$933$585$358$215$19
39 years$1,390$887$548$330$195$16
40 years$1,340$844$514$304$177$13
41 years$1,293$803$482$281$160$11
42 years$1,248$765$452$259$145$9
43 years$1,205$729$424$239$132$8
44 years$1,164$695$398$221$120$7
45 years$1,126$663$374$204$109$6
46 years$1,089$632$351$188$99$5
47 years$1,054$603$330$174$90$4
48 years$1,020$576$310$161$81$3
49 years$988$550$291$149$74$3
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 $4,795 every year, while hoping to spend $48,745 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: 68/23/9 Blend
56$980,000$980,000$980,000$980,000
57$1,084,906$1,032,966$1,017,776$1,156,464
58$1,143,702$1,031,717$1,000,007$1,203,321
59$1,206,862$1,028,773$980,009$1,248,216
60$1,274,778$1,024,000$957,657$1,296,021
61$1,347,884$1,017,254$932,817$1,347,011
62$1,426,654$1,008,385$905,351$1,401,493
63$1,511,609$997,232$875,117$1,459,806
64$1,603,321$983,625$841,961$1,522,324
65$1,702,420$967,383$805,727$1,589,461
66$1,809,597$948,315$766,250$1,661,672
67$1,925,613$926,219$723,356$1,739,464
68$2,051,303$900,881$676,865$1,823,394
69$2,187,585$872,073$626,589$1,914,078
70$2,335,470$839,556$572,331$2,012,197
71$2,496,068$803,075$513,885$2,118,503
72$2,670,603$762,362$451,036$2,233,828
73$2,860,419$717,131$383,560$2,359,090
74$3,066,994$667,083$311,222$2,495,303
75$3,291,956$611,899$233,777$2,643,588
76$3,537,097$551,243$150,969$2,805,181
77$3,804,387$484,760$62,533$2,981,450
78$4,095,995$412,075$0$3,173,904
79$4,414,310$332,789$0$3,387,267
80$4,761,959$246,485$0$3,626,929
81$5,141,836$152,721$0$3,888,941
82$5,557,126$51,027$0$4,175,576
83$6,011,337$0$0$4,489,344
84$6,508,331$0$0$4,847,967
85$7,052,358$0$0$5,254,723
86$7,648,102$0$0$5,700,203
87$8,300,718$0$0$6,188,272
88$9,015,885$0$0$6,723,183
89$9,799,857$0$0$7,309,622
90$10,659,521$0$0$7,952,749
91$11,602,463$0$0$8,658,247
92$12,637,040$0$0$9,432,378
93$13,772,453$0$0$10,282,036
94$15,018,841$0$0$11,214,817
95$16,387,371$0$0$12,239,088
96$17,890,344$0$0$13,364,066
97$19,541,312$0$0$14,599,904
98$21,355,202$0$0$15,957,788
99$23,348,460$0$0$17,450,040
100$25,539,204$0$0$19,090,236