Can I retire at age 57 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$81,836$81,107$80,396$79,702$79,024$76,069
2 years$40,513$39,758$39,027$38,318$37,630$34,687
3 years$26,740$25,982$25,253$24,551$23,874$21,035
4 years$19,855$19,100$18,378$17,687$17,027$14,314
5 years$15,725$14,975$14,262$13,586$12,944$10,364
6 years$12,973$12,228$11,526$10,865$10,242$7,797
7 years$11,008$10,269$9,578$8,932$8,330$6,018
8 years$9,535$8,802$8,123$7,493$6,910$4,731
9 years$8,389$7,664$6,996$6,382$5,819$3,769
10 years$7,474$6,755$6,099$5,502$4,958$3,033
11 years$6,725$6,014$5,370$4,788$4,264$2,460
12 years$6,102$5,398$4,766$4,200$3,695$2,008
13 years$5,575$4,878$4,258$3,708$3,222$1,647
14 years$5,123$4,434$3,826$3,291$2,825$1,356
15 years$4,732$4,051$3,454$2,935$2,487$1,120
16 years$4,391$3,716$3,132$2,628$2,198$927
17 years$4,089$3,423$2,850$2,362$1,949$769
18 years$3,822$3,163$2,601$2,128$1,733$639
19 years$3,583$2,931$2,381$1,923$1,545$532
20 years$3,368$2,724$2,186$1,742$1,380$443
21 years$3,174$2,537$2,010$1,581$1,235$370
22 years$2,998$2,368$1,853$1,437$1,107$309
23 years$2,837$2,215$1,711$1,309$993$258
24 years$2,690$2,075$1,582$1,194$893$216
25 years$2,555$1,948$1,465$1,090$804$180
26 years$2,430$1,830$1,359$997$724$151
27 years$2,315$1,723$1,262$912$653$126
28 years$2,209$1,623$1,173$836$589$106
29 years$2,110$1,531$1,092$767$532$88
30 years$2,017$1,446$1,017$704$480$74
31 years$1,931$1,367$948$646$434$62
32 years$1,850$1,294$885$594$393$52
33 years$1,775$1,225$826$546$356$44
34 years$1,704$1,161$772$502$322$36
35 years$1,637$1,101$721$463$292$31
36 years$1,574$1,045$675$426$264$26
37 years$1,515$993$632$392$239$21
38 years$1,458$943$592$362$217$18
39 years$1,405$897$554$334$197$15
40 years$1,355$854$519$308$179$13
41 years$1,307$812$487$284$162$11
42 years$1,262$774$457$262$147$9
43 years$1,219$737$429$242$133$7
44 years$1,177$703$402$223$121$6
45 years$1,138$670$378$206$110$5
46 years$1,101$639$355$190$100$4
47 years$1,065$610$333$176$91$4
48 years$1,031$582$313$163$82$3
49 years$999$556$295$150$75$3
50 years$968$531$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $991,000, adding $6,250 every year, while hoping to spend $46,597 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: 63/22/15 Blend
56$991,000$991,000$991,000$991,000
57$1,098,529$1,046,006$1,030,645$1,163,322
58$1,161,000$1,047,681$1,015,593$1,209,232
59$1,228,281$1,047,877$998,475$1,253,459
60$1,300,815$1,046,472$979,172$1,300,628
61$1,379,084$1,043,336$957,561$1,351,027
62$1,463,624$1,038,332$933,513$1,404,973
63$1,555,018$1,031,315$906,890$1,462,820
64$1,653,911$1,022,130$877,552$1,524,956
65$1,761,010$1,010,615$845,350$1,591,811
66$1,877,093$996,594$810,129$1,663,862
67$2,003,014$979,885$771,726$1,741,635
68$2,139,715$960,293$729,972$1,825,712
69$2,288,230$937,612$684,690$1,916,736
70$2,449,697$911,622$635,694$2,015,418
71$2,625,367$882,092$582,791$2,122,545
72$2,816,618$848,779$525,779$2,238,983
73$3,024,967$811,422$464,446$2,365,695
74$3,252,080$769,748$398,571$2,503,740
75$3,499,793$723,467$327,924$2,654,290
76$3,770,127$672,272$252,265$2,818,640
77$4,065,306$615,839$171,342$2,998,220
78$4,387,777$553,826$84,892$3,194,612
79$4,740,237$485,870$0$3,409,559
80$5,125,653$411,589$0$3,646,169
81$5,547,291$330,578$0$3,919,968
82$6,008,749$242,411$0$4,219,754
83$6,513,988$146,636$0$4,548,172
84$7,067,370$42,776$0$4,908,140
85$7,673,700$0$0$5,302,878
86$8,338,267$0$0$5,752,802
87$9,066,898$0$0$6,257,523
88$9,866,010$0$0$6,811,141
89$10,742,672$0$0$7,418,562
90$11,704,669$0$0$8,085,189
91$12,760,577$0$0$8,816,975
92$13,919,841$0$0$9,620,477
93$15,192,867$0$0$10,502,918
94$16,591,117$0$0$11,472,253
95$18,127,219$0$0$12,537,249
96$19,815,084$0$0$13,707,562
97$21,670,036$0$0$14,993,829
98$23,708,958$0$0$16,407,770
99$25,950,450$0$0$17,962,298
100$28,415,004$0$0$19,671,637