Can I retire at age 57 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$82,414$81,680$80,964$80,265$79,582$79,080
2 years$40,799$40,039$39,303$38,589$37,896$37,390
3 years$26,929$26,166$25,431$24,724$24,043$23,548
4 years$19,996$19,235$18,508$17,812$17,148$16,668
5 years$15,837$15,080$14,363$13,682$13,035$12,572
6 years$13,065$12,314$11,607$10,941$10,314$9,869
7 years$11,086$10,341$9,646$8,995$8,388$7,960
8 years$9,602$8,865$8,180$7,546$6,959$6,548
9 years$8,449$7,718$7,046$6,428$5,860$5,467
10 years$7,527$6,803$6,143$5,541$4,993$4,616
11 years$6,773$6,056$5,408$4,822$4,294$3,934
12 years$6,145$5,436$4,799$4,230$3,722$3,378
13 years$5,614$4,913$4,288$3,734$3,245$2,918
14 years$5,159$4,465$3,853$3,315$2,845$2,533
15 years$4,766$4,079$3,478$2,956$2,505$2,208
16 years$4,422$3,743$3,154$2,647$2,214$1,932
17 years$4,118$3,447$2,870$2,378$1,963$1,696
18 years$3,849$3,185$2,620$2,143$1,745$1,492
19 years$3,608$2,952$2,398$1,937$1,556$1,316
20 years$3,392$2,743$2,201$1,754$1,389$1,163
21 years$3,196$2,555$2,024$1,592$1,243$1,029
22 years$3,019$2,385$1,866$1,447$1,115$913
23 years$2,857$2,231$1,723$1,318$1,000$810
24 years$2,709$2,090$1,593$1,202$899$720
25 years$2,573$1,961$1,476$1,098$809$640
26 years$2,448$1,843$1,369$1,004$729$570
27 years$2,332$1,735$1,271$919$657$508
28 years$2,224$1,635$1,181$842$593$453
29 years$2,124$1,542$1,099$772$535$404
30 years$2,031$1,456$1,024$709$484$361
31 years$1,945$1,377$955$651$437$322
32 years$1,863$1,303$891$598$396$288
33 years$1,787$1,234$832$550$358$258
34 years$1,716$1,169$777$506$324$230
35 years$1,648$1,109$727$466$294$206
36 years$1,585$1,053$680$429$266$184
37 years$1,525$1,000$636$395$241$165
38 years$1,469$950$596$364$219$148
39 years$1,415$903$558$336$198$132
40 years$1,364$860$523$310$180$118
41 years$1,316$818$491$286$163$106
42 years$1,271$779$460$264$148$95
43 years$1,227$742$432$244$134$85
44 years$1,186$708$405$225$122$76
45 years$1,146$675$381$208$111$68
46 years$1,109$644$357$192$101$61
47 years$1,073$614$336$177$91$55
48 years$1,039$587$316$164$83$49
49 years$1,006$560$297$151$75$44
50 years$974$535$279$140$68$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $998,000, adding $2,583 every year, while hoping to spend $39,877 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: 48/44/8 Blend
56$998,000$998,000$998,000$998,000
57$1,102,460$1,049,566$1,034,097$1,152,899
58$1,172,483$1,058,566$1,026,311$1,196,749
59$1,248,310$1,066,671$1,016,927$1,239,922
60$1,330,494$1,073,794$1,005,850$1,285,867
61$1,419,639$1,079,844$992,980$1,334,853
62$1,516,409$1,084,723$978,212$1,387,179
63$1,621,537$1,088,329$961,436$1,443,175
64$1,735,827$1,090,550$942,538$1,503,207
65$1,860,165$1,091,271$921,397$1,567,680
66$1,995,525$1,090,366$897,886$1,637,040
67$2,142,979$1,087,704$871,876$1,711,783
68$2,303,706$1,083,145$843,227$1,792,458
69$2,479,005$1,076,540$811,796$1,879,670
70$2,670,304$1,067,732$777,432$1,974,090
71$2,879,177$1,056,552$739,978$2,076,461
72$3,107,355$1,042,825$699,269$2,187,603
73$3,356,743$1,026,362$655,133$2,308,422
74$3,629,441$1,006,964$607,390$2,439,924
75$3,927,759$984,420$555,853$2,583,217
76$4,254,242$958,508$500,324$2,739,527
77$4,611,689$928,989$440,600$2,910,211
78$5,003,187$895,616$376,466$3,096,768
79$5,432,133$858,121$307,698$3,300,853
80$5,902,267$816,226$234,063$3,524,298
81$6,417,712$769,634$155,317$3,769,125
82$6,983,004$718,032$71,206$4,037,569
83$7,603,142$661,087$0$4,332,101
84$8,283,632$598,451$0$4,657,030
85$9,030,539$529,751$0$5,020,377
86$9,850,543$454,598$0$5,419,409
87$10,751,002$372,577$0$5,857,828
88$11,740,023$283,251$0$6,339,720
89$12,826,535$186,160$0$6,869,596
90$14,020,376$80,816$0$7,452,434
91$15,332,382$0$0$8,093,730
92$16,774,494$0$0$8,815,668
93$18,359,865$0$0$9,652,459
94$20,102,987$0$0$10,572,637
95$22,019,825$0$0$11,584,645
96$24,127,971$0$0$12,697,786
97$26,446,803$0$0$13,922,310
98$28,997,677$0$0$15,269,510
99$31,804,119$0$0$16,751,829
100$34,892,052$0$0$18,382,976