Can I retire at age 59 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$73,413$72,759$72,121$71,498$70,890$68,051
2 years$36,343$35,666$35,010$34,374$33,757$30,932
3 years$23,988$23,308$22,654$22,024$21,417$18,695
4 years$17,812$17,134$16,486$15,867$15,275$12,677
5 years$14,107$13,433$12,794$12,187$11,612$9,145
6 years$11,638$10,969$10,339$9,746$9,188$6,853
7 years$9,875$9,212$8,592$8,013$7,472$5,269
8 years$8,553$7,896$7,287$6,722$6,199$4,125
9 years$7,526$6,875$6,276$5,726$5,220$3,272
10 years$6,705$6,060$5,472$4,935$4,448$2,621
11 years$6,033$5,395$4,817$4,295$3,825$2,117
12 years$5,474$4,842$4,275$3,768$3,315$1,719
13 years$5,001$4,376$3,820$3,326$2,891$1,403
14 years$4,596$3,978$3,432$2,953$2,534$1,150
15 years$4,245$3,634$3,099$2,633$2,231$945
16 years$3,939$3,334$2,809$2,358$1,972$778
17 years$3,668$3,070$2,556$2,118$1,748$642
18 years$3,429$2,837$2,334$1,909$1,555$531
19 years$3,214$2,629$2,136$1,725$1,386$440
20 years$3,021$2,443$1,961$1,562$1,238$365
21 years$2,847$2,276$1,803$1,418$1,108$302
22 years$2,689$2,124$1,662$1,289$993$251
23 years$2,545$1,987$1,535$1,174$891$209
24 years$2,413$1,862$1,419$1,071$801$173
25 years$2,292$1,747$1,315$978$721$144
26 years$2,180$1,642$1,219$894$649$120
27 years$2,077$1,545$1,132$819$585$100
28 years$1,981$1,456$1,052$750$528$83
29 years$1,892$1,374$979$688$477$69
30 years$1,810$1,297$912$631$431$58
31 years$1,732$1,226$850$580$390$48
32 years$1,660$1,160$793$533$352$40
33 years$1,592$1,099$741$490$319$33
34 years$1,528$1,042$692$451$289$28
35 years$1,468$988$647$415$262$23
36 years$1,412$938$605$382$237$19
37 years$1,359$891$567$352$215$16
38 years$1,308$846$531$325$195$13
39 years$1,261$805$497$299$177$11
40 years$1,215$766$466$276$160$9
41 years$1,173$729$437$255$145$8
42 years$1,132$694$410$235$132$6
43 years$1,093$661$385$217$120$5
44 years$1,056$630$361$200$109$4
45 years$1,021$601$339$185$99$4
46 years$988$573$318$171$90$3
47 years$956$547$299$158$81$3
48 years$925$522$281$146$74$2
49 years$896$499$264$135$67$2
50 years$868$477$248$125$61$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $889,000, adding $2,987 every year, while hoping to spend $32,606 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: 52/22/26 Blend
58$889,000$889,000$889,000$889,000
59$982,759$935,642$921,863$1,026,578
60$1,048,308$946,796$918,052$1,068,430
61$1,119,450$957,404$913,022$1,110,373
62$1,196,721$967,404$906,696$1,155,342
63$1,280,712$976,731$898,994$1,203,639
64$1,372,070$985,316$889,836$1,255,598
65$1,471,509$993,085$879,134$1,311,588
66$1,579,815$999,958$866,797$1,372,015
67$1,697,851$1,005,852$852,730$1,437,331
68$1,826,570$1,010,677$836,835$1,508,032
69$1,967,018$1,014,337$819,006$1,584,670
70$2,120,346$1,016,732$799,135$1,667,852
71$2,287,824$1,017,755$777,109$1,758,248
72$2,470,847$1,017,290$752,807$1,856,602
73$2,670,954$1,015,217$726,106$1,963,733
74$2,889,835$1,011,407$696,875$2,080,545
75$3,129,356$1,005,723$664,978$2,208,040
76$3,391,567$998,021$630,272$2,347,320
77$3,678,730$988,146$592,608$2,499,606
78$3,993,331$975,936$551,831$2,666,245
79$4,338,111$961,218$507,778$2,848,722
80$4,716,090$943,809$460,280$3,048,681
81$5,130,590$923,514$409,158$3,267,933
82$5,585,273$900,129$354,228$3,508,479
83$6,084,172$873,437$295,295$3,772,529
84$6,631,728$843,206$232,158$4,062,520
85$7,232,834$809,193$164,606$4,381,144
86$7,892,880$771,141$92,418$4,731,369
87$8,617,804$728,776$15,363$5,116,475
88$9,414,145$681,811$0$5,540,077
89$10,289,108$629,941$0$6,024,718
90$11,250,632$572,842$0$6,562,005
91$12,307,460$510,175$0$7,152,604
92$13,469,226$441,579$0$7,801,951
93$14,746,544$366,673$0$8,516,040
94$16,151,107$285,056$0$9,301,479
95$17,695,799$196,303$0$10,165,552
96$19,394,814$99,965$0$11,116,288
97$21,263,791$0$0$12,162,539
98$23,319,960$0$0$13,315,136
99$25,582,308$0$0$14,610,035
100$28,071,752$0$0$16,035,022