Can I retire at age 57 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$81,010$80,288$79,584$78,897$78,226$77,766
2 years$40,104$39,357$38,633$37,931$37,251$36,786
3 years$26,470$25,720$24,998$24,303$23,633$23,179
4 years$19,655$18,907$18,192$17,509$16,855$16,415
5 years$15,567$14,823$14,118$13,449$12,813$12,388
6 years$12,842$12,104$11,409$10,755$10,139$9,729
7 years$10,897$10,165$9,481$8,842$8,245$7,852
8 years$9,438$8,714$8,041$7,418$6,840$6,462
9 years$8,305$7,587$6,926$6,318$5,761$5,398
10 years$7,398$6,687$6,038$5,446$4,908$4,562
11 years$6,657$5,953$5,316$4,740$4,221$3,890
12 years$6,040$5,343$4,718$4,157$3,658$3,342
13 years$5,518$4,829$4,215$3,670$3,190$2,888
14 years$5,071$4,389$3,787$3,258$2,796$2,509
15 years$4,684$4,010$3,419$2,906$2,462$2,189
16 years$4,346$3,679$3,100$2,602$2,176$1,917
17 years$4,048$3,388$2,821$2,338$1,929$1,683
18 years$3,783$3,131$2,575$2,107$1,716$1,482
19 years$3,547$2,902$2,357$1,904$1,529$1,308
20 years$3,334$2,696$2,163$1,724$1,366$1,157
21 years$3,142$2,511$1,990$1,565$1,222$1,025
22 years$2,968$2,344$1,834$1,423$1,096$909
23 years$2,808$2,193$1,693$1,296$983$808
24 years$2,663$2,054$1,566$1,182$884$718
25 years$2,529$1,928$1,451$1,079$795$639
26 years$2,406$1,812$1,345$987$716$570
27 years$2,292$1,705$1,249$903$646$508
28 years$2,186$1,607$1,161$828$583$453
29 years$2,088$1,516$1,081$759$526$405
30 years$1,997$1,432$1,007$696$476$362
31 years$1,912$1,353$938$640$430$323
32 years$1,832$1,280$876$588$389$289
33 years$1,757$1,213$818$541$352$259
34 years$1,687$1,149$764$497$319$232
35 years$1,620$1,090$714$458$289$207
36 years$1,558$1,035$668$422$262$186
37 years$1,499$983$625$389$237$166
38 years$1,444$934$586$358$215$149
39 years$1,391$888$549$330$195$134
40 years$1,341$845$514$305$177$120
41 years$1,294$804$482$281$160$107
42 years$1,249$766$452$259$146$96
43 years$1,206$730$424$239$132$86
44 years$1,166$696$398$221$120$77
45 years$1,127$663$374$204$109$69
46 years$1,090$633$351$189$99$62
47 years$1,055$604$330$174$90$56
48 years$1,021$577$310$161$81$50
49 years$989$551$292$149$74$45
50 years$958$526$274$138$67$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $981,000, adding $5,421 every year, while hoping to spend $29,934 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: 56/38/6 Blend
56$981,000$981,000$981,000$981,000
57$1,086,654$1,034,661$1,019,455$1,145,814
58$1,165,643$1,053,510$1,021,757$1,205,127
59$1,251,686$1,072,279$1,023,134$1,265,871
60$1,345,470$1,090,933$1,023,521$1,331,287
61$1,447,753$1,109,433$1,022,854$1,401,824
62$1,559,367$1,127,739$1,021,063$1,477,976
63$1,681,231$1,145,807$1,018,077$1,560,285
64$1,814,353$1,163,588$1,013,819$1,649,352
65$1,959,845$1,181,031$1,008,210$1,745,838
66$2,118,930$1,198,083$1,001,166$1,850,470
67$2,292,957$1,214,685$992,601$1,964,052
68$2,483,408$1,230,774$982,423$2,087,469
69$2,691,917$1,246,284$970,535$2,221,695
70$2,920,283$1,261,142$956,838$2,367,808
71$3,170,486$1,275,272$941,227$2,526,991
72$3,444,709$1,288,594$923,591$2,700,553
73$3,745,354$1,301,019$903,816$2,889,934
74$4,075,067$1,312,456$881,780$3,096,723
75$4,436,763$1,322,805$857,359$3,322,672
76$4,833,651$1,331,962$830,420$3,569,712
77$5,269,270$1,339,814$800,825$3,839,972
78$5,747,513$1,346,242$768,430$4,135,799
79$6,272,671$1,351,120$733,084$4,459,782
80$6,849,471$1,354,312$694,630$4,814,775
81$7,483,120$1,355,676$652,903$5,203,922
82$8,179,353$1,355,060$607,730$5,630,694
83$8,944,490$1,352,301$558,932$6,098,914
84$9,785,493$1,347,228$506,321$6,612,799
85$10,710,031$1,339,661$449,701$7,176,997
86$11,726,555$1,329,404$388,866$7,796,633
87$12,844,372$1,316,254$323,602$8,477,358
88$14,073,741$1,299,993$253,686$9,225,400
89$15,425,962$1,280,392$178,884$10,047,629
90$16,913,485$1,257,206$98,951$10,951,614
91$18,550,029$1,230,178$13,635$11,945,704
92$20,350,709$1,199,034$0$13,039,101
93$22,332,178$1,163,483$0$14,246,906
94$24,512,787$1,123,220$0$15,576,600
95$26,912,753$1,077,920$0$17,039,658
96$29,554,355$1,027,239$0$18,649,691
97$32,462,141$970,815$0$20,421,703
98$35,663,158$908,264$0$22,372,233
99$39,187,209$839,178$0$24,519,512
100$43,067,136$763,130$0$26,883,634