Can I retire at age 57 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$82,331$81,598$80,882$80,184$79,502$77,897
2 years$40,758$39,999$39,263$38,550$37,858$36,248
3 years$26,902$26,140$25,406$24,699$24,019$22,454
4 years$19,976$19,216$18,489$17,795$17,130$15,623
5 years$15,821$15,065$14,348$13,668$13,022$11,576
6 years$13,052$12,302$11,596$10,930$10,304$8,921
7 years$11,075$10,331$9,636$8,986$8,380$7,061
8 years$9,592$8,856$8,172$7,538$6,952$5,696
9 years$8,440$7,710$7,039$6,421$5,855$4,660
10 years$7,519$6,796$6,136$5,535$4,988$3,855
11 years$6,766$6,050$5,402$4,817$4,290$3,217
12 years$6,139$5,431$4,794$4,225$3,718$2,703
13 years$5,608$4,908$4,284$3,730$3,242$2,283
14 years$5,154$4,461$3,849$3,311$2,842$1,938
15 years$4,761$4,075$3,475$2,953$2,502$1,651
16 years$4,417$3,739$3,151$2,644$2,211$1,411
17 years$4,114$3,443$2,867$2,376$1,961$1,209
18 years$3,845$3,182$2,617$2,141$1,744$1,038
19 years$3,605$2,949$2,396$1,935$1,554$893
20 years$3,388$2,740$2,199$1,752$1,388$769
21 years$3,193$2,552$2,022$1,590$1,242$664
22 years$3,016$2,383$1,864$1,446$1,113$574
23 years$2,854$2,228$1,721$1,317$999$496
24 years$2,706$2,088$1,592$1,201$898$429
25 years$2,570$1,959$1,474$1,097$808$372
26 years$2,445$1,841$1,367$1,003$728$322
27 years$2,329$1,733$1,270$918$657$280
28 years$2,222$1,633$1,180$841$592$243
29 years$2,122$1,541$1,098$771$535$210
30 years$2,029$1,455$1,023$708$483$183
31 years$1,943$1,375$954$650$437$159
32 years$1,862$1,301$890$597$395$138
33 years$1,785$1,232$831$549$358$120
34 years$1,714$1,168$776$505$324$104
35 years$1,647$1,108$726$465$293$91
36 years$1,583$1,052$679$429$266$79
37 years$1,524$999$636$395$241$68
38 years$1,467$949$595$364$218$60
39 years$1,414$903$558$336$198$52
40 years$1,363$859$523$310$180$45
41 years$1,315$817$490$286$163$39
42 years$1,269$778$460$264$148$34
43 years$1,226$742$431$243$134$30
44 years$1,185$707$405$225$122$26
45 years$1,145$674$380$207$111$22
46 years$1,108$643$357$192$100$20
47 years$1,072$614$335$177$91$17
48 years$1,038$586$315$164$83$15
49 years$1,005$560$296$151$75$13
50 years$973$534$279$140$68$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $997,000, adding $3,757 every year, while hoping to spend $47,560 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: 72/19/9 Blend
56$997,000$997,000$997,000$997,000
57$1,102,569$1,049,728$1,034,275$1,179,915
58$1,164,428$1,050,562$1,018,320$1,232,350
59$1,231,002$1,049,842$1,000,236$1,283,484
60$1,302,723$1,047,442$979,902$1,338,161
61$1,380,063$1,043,229$957,191$1,396,719
62$1,463,542$1,037,060$931,970$1,459,530
63$1,553,731$1,028,784$904,099$1,527,002
64$1,651,259$1,018,242$873,433$1,599,591
65$1,756,814$1,005,262$839,820$1,677,794
66$1,871,156$989,667$803,101$1,762,163
67$1,995,117$971,264$763,108$1,853,306
68$2,129,615$949,852$719,668$1,951,895
69$2,275,659$925,217$672,600$2,058,670
70$2,434,356$897,134$621,712$2,174,449
71$2,606,929$865,361$566,808$2,300,133
72$2,794,718$829,646$507,678$2,436,719
73$2,999,200$789,720$444,107$2,585,304
74$3,222,002$745,300$375,868$2,747,101
75$3,464,912$696,085$302,724$2,923,447
76$3,729,897$641,758$224,430$3,115,818
77$4,019,125$581,982$140,727$3,325,843
78$4,334,982$516,405$51,347$3,555,318
79$4,680,091$444,650$0$3,806,227
80$5,057,344$366,322$0$4,084,985
81$5,469,924$281,002$0$4,395,314
82$5,921,333$188,249$0$4,734,970
83$6,415,431$87,595$0$5,106,922
84$6,956,466$0$0$5,514,441
85$7,549,116$0$0$5,965,622
86$8,198,534$0$0$6,480,135
87$8,910,394$0$0$7,044,169
88$9,690,945$0$0$7,662,680
89$10,547,070$0$0$8,341,129
90$11,486,352$0$0$9,085,531
91$12,517,139$0$0$9,902,511
92$13,648,631$0$0$10,799,366
93$14,890,960$0$0$11,784,134
94$16,255,287$0$0$12,865,671
95$17,753,906$0$0$14,053,730
96$19,400,364$0$0$15,359,057
97$21,209,579$0$0$16,793,492
98$23,197,992$0$0$18,370,074
99$25,383,711$0$0$20,103,173
100$27,786,689$0$0$22,008,617