Can I retire at age 57 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$81,918$81,189$80,477$79,782$79,103$77,254
2 years$40,554$39,798$39,066$38,357$37,668$35,815
3 years$26,767$26,009$25,279$24,576$23,898$22,100
4 years$19,875$19,119$18,396$17,705$17,044$15,315
5 years$15,741$14,990$14,276$13,599$12,957$11,300
6 years$12,986$12,240$11,537$10,876$10,252$8,671
7 years$11,019$10,279$9,588$8,941$8,338$6,831
8 years$9,544$8,811$8,131$7,501$6,917$5,485
9 years$8,398$7,672$7,003$6,389$5,825$4,467
10 years$7,481$6,762$6,106$5,507$4,963$3,677
11 years$6,732$6,020$5,375$4,793$4,269$3,052
12 years$6,108$5,403$4,770$4,204$3,699$2,551
13 years$5,580$4,883$4,262$3,712$3,226$2,144
14 years$5,128$4,439$3,829$3,295$2,828$1,809
15 years$4,737$4,055$3,458$2,938$2,490$1,533
16 years$4,395$3,720$3,135$2,631$2,200$1,303
17 years$4,093$3,426$2,852$2,364$1,951$1,110
18 years$3,826$3,166$2,604$2,130$1,735$947
19 years$3,587$2,934$2,384$1,925$1,546$810
20 years$3,371$2,726$2,188$1,743$1,381$694
21 years$3,177$2,540$2,012$1,582$1,236$595
22 years$3,001$2,371$1,855$1,439$1,108$511
23 years$2,840$2,217$1,712$1,310$994$439
24 years$2,693$2,077$1,584$1,195$894$378
25 years$2,558$1,950$1,467$1,091$804$325
26 years$2,433$1,832$1,360$998$725$280
27 years$2,318$1,724$1,263$913$653$241
28 years$2,211$1,625$1,174$837$589$208
29 years$2,112$1,533$1,093$767$532$179
30 years$2,019$1,448$1,018$704$481$155
31 years$1,933$1,368$949$647$435$133
32 years$1,852$1,295$885$594$393$115
33 years$1,777$1,226$827$547$356$99
34 years$1,705$1,162$772$503$322$86
35 years$1,639$1,102$722$463$292$74
36 years$1,576$1,046$676$426$264$64
37 years$1,516$994$632$393$240$55
38 years$1,460$944$592$362$217$48
39 years$1,407$898$555$334$197$41
40 years$1,356$854$520$308$179$36
41 years$1,308$813$488$284$162$31
42 years$1,263$775$457$262$147$27
43 years$1,220$738$429$242$134$23
44 years$1,179$703$403$224$121$20
45 years$1,139$671$378$206$110$17
46 years$1,102$640$355$191$100$15
47 years$1,066$611$334$176$91$13
48 years$1,032$583$314$163$82$11
49 years$1,000$557$295$150$75$10
50 years$969$532$277$139$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $992,000, adding $6,783 every year, while hoping to spend $43,122 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: 42/33/25 Blend
56$992,000$992,000$992,000$992,000
57$1,100,181$1,047,605$1,032,229$1,138,088
58$1,166,518$1,053,056$1,020,927$1,171,321
59$1,238,176$1,057,329$1,007,801$1,202,672
60$1,315,652$1,060,320$992,745$1,235,778
61$1,399,493$1,061,921$975,647$1,270,822
62$1,490,300$1,062,013$956,389$1,308,015
63$1,588,733$1,060,474$934,851$1,347,586
64$1,695,519$1,057,172$910,903$1,389,794
65$1,811,455$1,051,968$884,412$1,434,925
66$1,937,422$1,044,712$855,238$1,483,299
67$2,074,385$1,035,249$823,234$1,535,271
68$2,223,407$1,023,411$788,248$1,591,236
69$2,385,659$1,009,023$750,119$1,651,633
70$2,562,428$991,897$708,679$1,716,950
71$2,755,130$971,834$663,755$1,787,729
72$2,965,325$948,626$615,162$1,864,572
73$3,194,729$922,049$562,711$1,948,148
74$3,445,231$891,869$506,201$2,039,197
75$3,718,910$857,836$445,424$2,138,542
76$4,018,055$819,687$380,162$2,247,095
77$4,345,188$777,142$310,189$2,365,869
78$4,703,083$729,908$235,266$2,495,983
79$5,094,796$677,672$155,145$2,638,681
80$5,523,691$620,104$69,569$2,795,338
81$5,993,474$556,856$0$2,967,481
82$6,508,226$487,559$0$3,162,599
83$7,072,440$411,825$0$3,396,942
84$7,691,066$329,241$0$3,654,080
85$8,369,555$239,373$0$3,936,384
86$9,113,910$141,764$0$4,246,474
87$9,930,745$35,927$0$4,587,242
88$10,827,345$0$0$4,961,884
89$11,811,734$0$0$5,402,483
90$12,892,750$0$0$5,900,790
91$14,080,131$0$0$6,448,263
92$15,384,603$0$0$7,049,865
93$16,817,982$0$0$7,711,061
94$18,393,286$0$0$8,437,877
95$20,124,858$0$0$9,236,946
96$22,028,497$0$0$10,115,581
97$24,121,610$0$0$11,081,834
98$26,423,376$0$0$12,144,582
99$28,954,926$0$0$13,313,600
100$31,739,539$0$0$14,599,661