Can I retire at age 57 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$81,506$80,780$80,071$79,380$78,705$76,338
2 years$40,349$39,598$38,870$38,163$37,478$35,114
3 years$26,632$25,878$25,151$24,452$23,778$21,490
4 years$19,775$19,023$18,304$17,616$16,959$14,765
5 years$15,662$14,914$14,204$13,531$12,892$10,797
6 years$12,921$12,178$11,479$10,821$10,201$8,208
7 years$10,963$10,227$9,539$8,896$8,296$6,405
8 years$9,496$8,767$8,090$7,463$6,882$5,092
9 years$8,356$7,633$6,968$6,357$5,796$4,104
10 years$7,444$6,728$6,075$5,480$4,938$3,343
11 years$6,698$5,990$5,348$4,769$4,247$2,745
12 years$6,077$5,376$4,746$4,183$3,680$2,269
13 years$5,552$4,858$4,241$3,693$3,209$1,885
14 years$5,102$4,416$3,810$3,278$2,813$1,572
15 years$4,713$4,034$3,440$2,924$2,477$1,316
16 years$4,373$3,701$3,119$2,618$2,189$1,105
17 years$4,073$3,409$2,838$2,352$1,941$930
18 years$3,806$3,150$2,591$2,120$1,726$784
19 years$3,568$2,919$2,372$1,915$1,538$662
20 years$3,355$2,713$2,177$1,735$1,374$560
21 years$3,161$2,527$2,002$1,574$1,230$474
22 years$2,986$2,359$1,845$1,431$1,102$401
23 years$2,826$2,206$1,704$1,304$989$340
24 years$2,679$2,067$1,576$1,189$889$289
25 years$2,545$1,940$1,459$1,086$800$245
26 years$2,421$1,823$1,354$993$721$208
27 years$2,306$1,716$1,257$909$650$177
28 years$2,200$1,617$1,168$833$586$150
29 years$2,101$1,525$1,087$764$530$128
30 years$2,009$1,440$1,013$701$478$109
31 years$1,923$1,362$944$644$433$93
32 years$1,843$1,288$881$591$391$79
33 years$1,768$1,220$823$544$354$67
34 years$1,697$1,156$769$500$321$57
35 years$1,630$1,097$719$461$290$49
36 years$1,568$1,041$672$424$263$41
37 years$1,508$989$629$391$238$35
38 years$1,452$940$589$360$216$30
39 years$1,400$893$552$332$196$26
40 years$1,349$850$517$306$178$22
41 years$1,302$809$485$283$161$19
42 years$1,257$771$455$261$146$16
43 years$1,214$734$427$241$133$13
44 years$1,173$700$401$222$121$11
45 years$1,134$667$376$205$109$10
46 years$1,097$637$354$190$99$8
47 years$1,061$608$332$175$90$7
48 years$1,027$580$312$162$82$6
49 years$995$554$293$150$74$5
50 years$964$529$276$138$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $987,000, adding $5,699 every year, while hoping to spend $58,216 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: 70/20/10 Blend
56$987,000$987,000$987,000$987,000
57$1,093,553$1,041,242$1,025,943$1,167,553
58$1,143,154$1,030,321$998,371$1,206,409
59$1,195,863$1,016,914$967,924$1,241,274
60$1,251,935$1,000,838$934,444$1,277,866
61$1,311,652$981,898$897,767$1,316,342
62$1,375,318$959,888$857,719$1,356,879
63$1,443,269$934,591$814,121$1,399,670
64$1,515,872$905,776$766,785$1,444,931
65$1,593,531$873,199$715,512$1,492,902
66$1,676,687$836,602$660,097$1,543,848
67$1,765,824$795,710$600,326$1,598,064
68$1,861,474$750,236$535,972$1,655,875
69$1,964,219$699,873$466,802$1,717,642
70$2,074,700$644,297$392,571$1,783,768
71$2,193,619$583,167$313,022$1,854,695
72$2,321,748$516,122$227,888$1,930,916
73$2,459,934$442,780$136,890$2,012,975
74$2,609,108$362,737$39,736$2,101,477
75$2,770,293$275,567$0$2,197,090
76$2,944,614$180,820$0$2,307,376
77$3,133,305$78,020$0$2,431,301
78$3,337,725$0$0$2,565,562
79$3,559,368$0$0$2,718,537
80$3,799,876$0$0$2,903,210
81$4,061,055$0$0$3,103,801
82$4,344,894$0$0$3,321,844
83$4,653,576$0$0$3,559,023
84$4,989,508$0$0$3,817,192
85$5,355,334$0$0$4,098,391
86$5,753,967$0$0$4,404,866
87$6,188,610$0$0$4,739,087
88$6,662,792$0$0$5,103,774
89$7,180,392$0$0$5,501,920
90$7,745,684$0$0$5,936,820
91$8,363,372$0$0$6,412,101
92$9,038,635$0$0$6,931,758
93$9,777,174$0$0$7,500,186
94$10,585,267$0$0$8,122,228
95$11,469,826$0$0$8,803,215
96$12,438,463$0$0$9,549,016
97$13,499,560$0$0$10,366,098
98$14,662,350$0$0$11,261,578
99$15,936,997$0$0$12,243,299
100$17,334,700$0$0$13,319,896