Can I retire at age 57 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$81,671$80,943$80,233$79,541$78,864$77,750
2 years$40,431$39,678$38,948$38,241$37,554$36,434
3 years$26,686$25,930$25,202$24,501$23,826$22,734
4 years$19,815$19,061$18,341$17,652$16,993$15,938
5 years$15,694$14,944$14,233$13,558$12,918$11,903
6 years$12,947$12,203$11,502$10,843$10,221$9,248
7 years$10,986$10,248$9,559$8,914$8,313$7,381
8 years$9,515$8,785$8,106$7,478$6,896$6,006
9 years$8,373$7,649$6,982$6,370$5,808$4,959
10 years$7,459$6,742$6,087$5,491$4,948$4,140
11 years$6,712$6,002$5,359$4,779$4,256$3,487
12 years$6,089$5,387$4,756$4,191$3,688$2,958
13 years$5,563$4,868$4,249$3,700$3,216$2,524
14 years$5,113$4,425$3,818$3,285$2,819$2,164
15 years$4,723$4,042$3,447$2,929$2,482$1,862
16 years$4,382$3,709$3,125$2,623$2,194$1,608
17 years$4,081$3,416$2,844$2,357$1,945$1,393
18 years$3,814$3,156$2,596$2,124$1,730$1,209
19 years$3,576$2,925$2,377$1,919$1,542$1,052
20 years$3,361$2,718$2,181$1,738$1,377$917
21 years$3,168$2,532$2,006$1,577$1,232$800
22 years$2,992$2,363$1,849$1,434$1,104$699
23 years$2,831$2,210$1,707$1,306$991$612
24 years$2,685$2,071$1,579$1,191$891$536
25 years$2,550$1,944$1,462$1,088$802$469
26 years$2,426$1,827$1,356$995$722$412
27 years$2,311$1,719$1,259$911$651$361
28 years$2,204$1,620$1,171$834$588$317
29 years$2,105$1,528$1,090$765$531$279
30 years$2,013$1,443$1,015$702$479$245
31 years$1,927$1,364$946$645$433$216
32 years$1,847$1,291$883$593$392$190
33 years$1,771$1,223$824$545$355$167
34 years$1,700$1,159$770$501$321$147
35 years$1,634$1,099$720$462$291$129
36 years$1,571$1,043$674$425$264$114
37 years$1,511$991$630$392$239$100
38 years$1,455$942$590$361$217$88
39 years$1,402$895$553$333$196$78
40 years$1,352$852$518$307$178$69
41 years$1,304$811$486$283$162$60
42 years$1,259$772$456$261$147$53
43 years$1,216$736$428$241$133$47
44 years$1,175$701$402$223$121$41
45 years$1,136$669$377$206$110$36
46 years$1,099$638$354$190$100$32
47 years$1,063$609$333$176$90$28
48 years$1,029$581$313$162$82$25
49 years$997$555$294$150$75$22
50 years$966$530$276$139$68$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $989,000, adding $5,424 every year, while hoping to spend $27,428 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: 38/49/13 Blend
56$989,000$989,000$989,000$989,000
57$1,095,473$1,043,056$1,027,726$1,132,586
58$1,178,028$1,064,982$1,032,972$1,181,466
59$1,268,084$1,087,064$1,037,474$1,231,195
60$1,366,378$1,109,280$1,041,179$1,284,337
61$1,473,720$1,131,605$1,044,030$1,341,212
62$1,591,002$1,154,016$1,045,967$1,402,172
63$1,719,206$1,176,485$1,046,928$1,467,607
64$1,859,413$1,198,981$1,046,849$1,537,945
65$2,012,814$1,221,472$1,045,659$1,613,658
66$2,180,719$1,243,923$1,043,287$1,695,268
67$2,364,573$1,266,295$1,039,658$1,783,350
68$2,565,965$1,288,549$1,034,692$1,878,538
69$2,786,645$1,310,640$1,028,306$1,981,531
70$3,028,542$1,332,520$1,020,413$2,093,101
71$3,293,778$1,354,139$1,010,922$2,214,097
72$3,584,693$1,375,441$999,737$2,345,460
73$3,903,862$1,396,367$986,758$2,488,223
74$4,254,122$1,416,856$971,881$2,643,529
75$4,638,599$1,436,838$954,995$2,812,636
76$5,060,735$1,456,242$935,987$2,996,935
77$5,524,323$1,474,991$914,735$3,197,956
78$6,033,539$1,493,000$891,114$3,417,390
79$6,592,986$1,510,183$864,992$3,657,101
80$7,207,733$1,526,445$836,232$3,919,146
81$7,883,366$1,541,685$804,690$4,205,792
82$8,626,038$1,555,796$770,215$4,519,540
83$9,442,526$1,568,663$732,650$4,863,149
84$10,340,301$1,580,164$691,831$5,239,663
85$11,327,590$1,590,170$647,585$5,652,437
86$12,413,458$1,598,543$599,733$6,105,172
87$13,607,894$1,605,135$548,088$6,601,951
88$14,921,903$1,609,790$492,453$7,147,275
89$16,367,610$1,612,343$432,623$7,746,109
90$17,958,375$1,612,616$368,384$8,403,929
91$19,708,918$1,610,423$299,514$9,126,772
92$21,635,458$1,605,564$225,778$9,921,298
93$23,755,866$1,597,828$146,933$10,794,847
94$26,089,834$1,586,991$62,725$11,755,519
95$28,659,059$1,572,816$0$12,812,240
96$31,487,450$1,555,050$0$13,978,620
97$34,601,348$1,533,427$0$15,271,281
98$38,029,783$1,507,662$0$16,693,522
99$41,804,740$1,477,457$0$18,258,583
100$45,961,465$1,442,492$0$19,981,061