Can I retire at age 57 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$81,258$80,534$79,828$79,139$78,466$76,260
2 years$40,227$39,477$38,751$38,047$37,365$35,159
3 years$26,551$25,799$25,075$24,377$23,706$21,569
4 years$19,715$18,965$18,248$17,562$16,907$14,857
5 years$15,614$14,869$14,161$13,490$12,852$10,893
6 years$12,881$12,141$11,444$10,788$10,170$8,304
7 years$10,930$10,196$9,510$8,869$8,271$6,498
8 years$9,467$8,740$8,065$7,440$6,861$5,181
9 years$8,330$7,610$6,947$6,337$5,778$4,189
10 years$7,421$6,708$6,056$5,463$4,923$3,422
11 years$6,678$5,972$5,332$4,754$4,234$2,819
12 years$6,059$5,360$4,732$4,170$3,669$2,338
13 years$5,535$4,844$4,228$3,682$3,200$1,949
14 years$5,087$4,403$3,799$3,268$2,805$1,631
15 years$4,699$4,022$3,430$2,915$2,470$1,370
16 years$4,359$3,690$3,109$2,610$2,183$1,155
17 years$4,060$3,398$2,829$2,345$1,935$975
18 years$3,795$3,140$2,583$2,113$1,721$825
19 years$3,558$2,910$2,365$1,909$1,534$699
20 years$3,344$2,704$2,170$1,729$1,370$594
21 years$3,152$2,519$1,996$1,569$1,226$504
22 years$2,977$2,351$1,840$1,427$1,099$429
23 years$2,817$2,199$1,699$1,300$986$365
24 years$2,671$2,061$1,571$1,185$887$311
25 years$2,537$1,934$1,455$1,083$798$265
26 years$2,413$1,817$1,349$990$719$226
27 years$2,299$1,710$1,253$906$648$193
28 years$2,193$1,612$1,165$830$585$165
29 years$2,095$1,520$1,084$761$528$141
30 years$2,003$1,436$1,010$699$477$120
31 years$1,917$1,357$941$642$431$103
32 years$1,837$1,284$878$590$390$88
33 years$1,762$1,216$820$542$353$75
34 years$1,692$1,153$766$499$320$64
35 years$1,625$1,093$716$459$290$55
36 years$1,563$1,038$670$423$262$47
37 years$1,504$986$627$390$238$40
38 years$1,448$937$587$359$216$34
39 years$1,395$891$550$331$195$29
40 years$1,345$847$516$305$177$25
41 years$1,298$807$484$282$161$21
42 years$1,253$768$454$260$146$18
43 years$1,210$732$426$240$132$16
44 years$1,169$698$400$222$120$13
45 years$1,130$665$375$205$109$11
46 years$1,093$635$352$189$99$10
47 years$1,058$606$331$175$90$8
48 years$1,024$578$311$161$82$7
49 years$992$552$292$149$74$6
50 years$961$528$275$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $984,000, adding $6,782 every year, while hoping to spend $24,188 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: 52/27/21 Blend
56$984,000$984,000$984,000$984,000
57$1,091,364$1,039,212$1,023,960$1,141,453
58$1,176,947$1,064,397$1,032,526$1,201,888
59$1,270,449$1,090,006$1,040,570$1,264,526
60$1,372,652$1,116,034$1,048,046$1,332,149
61$1,484,417$1,142,474$1,054,910$1,405,236
62$1,606,693$1,169,320$1,061,115$1,484,321
63$1,740,523$1,196,564$1,066,609$1,569,986
64$1,887,056$1,224,196$1,071,341$1,662,879
65$2,047,560$1,252,206$1,075,255$1,763,708
66$2,223,428$1,280,581$1,078,293$1,873,257
67$2,416,196$1,309,307$1,080,394$1,992,389
68$2,627,554$1,338,370$1,081,493$2,122,054
69$2,859,365$1,367,750$1,081,524$2,263,301
70$3,113,681$1,397,431$1,080,415$2,417,283
71$3,392,761$1,427,389$1,078,093$2,585,274
72$3,699,093$1,457,602$1,074,481$2,768,677
73$4,035,420$1,488,044$1,069,495$2,969,038
74$4,404,762$1,518,687$1,063,052$3,188,061
75$4,810,445$1,549,500$1,055,061$3,427,623
76$5,256,134$1,580,449$1,045,429$3,689,797
77$5,745,866$1,611,497$1,034,058$3,976,863
78$6,284,090$1,642,606$1,020,845$4,291,337
79$6,875,705$1,673,732$1,005,681$4,635,992
80$7,526,110$1,704,828$988,454$5,013,882
81$8,241,253$1,735,844$969,047$5,428,378
82$9,027,685$1,766,725$947,335$5,883,190
83$9,892,627$1,797,413$923,189$6,382,413
84$10,844,034$1,827,844$896,474$6,930,557
85$11,890,667$1,857,951$867,048$7,532,594
86$13,042,185$1,887,660$834,764$8,194,004
87$14,309,225$1,916,893$799,466$8,920,829
88$15,703,511$1,945,565$760,993$9,719,728
89$17,237,958$1,973,587$719,175$10,598,039
90$18,926,799$2,000,862$673,836$11,563,853
91$20,785,714$2,027,286$624,792$12,626,086
92$22,831,983$2,052,749$571,848$13,794,566
93$25,084,644$2,077,133$514,804$15,080,127
94$27,564,676$2,100,311$453,448$16,494,709
95$30,295,196$2,122,148$387,561$18,051,473
96$33,301,674$2,142,502$316,913$19,764,924
97$36,612,179$2,161,219$241,264$21,651,052
98$40,257,639$2,178,136$160,363$23,727,478
99$44,272,132$2,193,078$73,949$26,013,626
100$48,693,212$2,205,862$0$28,530,904