Can I retire at age 59 with 890,000?

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 $890,000?

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$73,495$72,841$72,202$71,579$70,970$69,310
2 years$36,384$35,706$35,050$34,413$33,795$32,133
3 years$24,015$23,334$22,679$22,049$21,441$19,828
4 years$17,832$17,153$16,505$15,885$15,292$13,740
5 years$14,123$13,448$12,808$12,201$11,625$10,138
6 years$11,651$10,982$10,351$9,757$9,198$7,779
7 years$9,886$9,222$8,602$8,022$7,481$6,129
8 years$8,563$7,905$7,295$6,729$6,206$4,921
9 years$7,534$6,883$6,283$5,732$5,226$4,007
10 years$6,712$6,067$5,478$4,941$4,453$3,299
11 years$6,040$5,401$4,823$4,300$3,830$2,739
12 years$5,480$4,848$4,280$3,772$3,319$2,289
13 years$5,006$4,381$3,824$3,330$2,894$1,923
14 years$4,601$3,982$3,436$2,956$2,537$1,623
15 years$4,250$3,638$3,102$2,636$2,234$1,375
16 years$3,943$3,338$2,812$2,360$1,974$1,169
17 years$3,673$3,074$2,559$2,121$1,750$996
18 years$3,432$2,840$2,336$1,911$1,556$850
19 years$3,218$2,632$2,139$1,727$1,387$727
20 years$3,025$2,446$1,963$1,564$1,239$623
21 years$2,851$2,278$1,805$1,420$1,109$534
22 years$2,692$2,127$1,664$1,291$994$458
23 years$2,548$1,989$1,536$1,175$892$394
24 years$2,416$1,864$1,421$1,072$802$339
25 years$2,295$1,749$1,316$979$722$292
26 years$2,183$1,644$1,221$895$650$251
27 years$2,079$1,547$1,133$819$586$216
28 years$1,984$1,458$1,054$751$529$187
29 years$1,895$1,375$980$688$477$161
30 years$1,812$1,299$913$632$431$139
31 years$1,734$1,228$851$580$390$120
32 years$1,662$1,162$794$533$353$103
33 years$1,594$1,100$742$490$319$89
34 years$1,530$1,043$693$451$289$77
35 years$1,470$989$648$415$262$66
36 years$1,414$939$606$383$237$57
37 years$1,360$892$567$352$215$50
38 years$1,310$847$531$325$195$43
39 years$1,262$806$498$300$177$37
40 years$1,217$767$467$276$160$32
41 years$1,174$730$437$255$145$28
42 years$1,133$695$410$235$132$24
43 years$1,094$662$385$217$120$21
44 years$1,057$631$361$201$109$18
45 years$1,022$602$339$185$99$15
46 years$989$574$319$171$90$13
47 years$957$548$299$158$81$11
48 years$926$523$281$146$74$10
49 years$897$499$265$135$67$9
50 years$869$477$249$125$61$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $890,000, adding $6,282 every year, while hoping to spend $56,586 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: 66/16/18 Blend
58$890,000$890,000$890,000$890,000
59$987,260$940,090$926,295$1,047,631
60$1,027,753$925,947$897,119$1,074,696
61$1,070,481$909,215$865,069$1,097,155
62$1,115,610$889,707$829,989$1,120,337
63$1,163,324$867,225$791,715$1,144,312
64$1,213,824$841,559$750,079$1,169,157
65$1,267,328$812,490$704,900$1,194,962
66$1,324,075$779,781$655,993$1,221,827
67$1,384,325$743,185$603,164$1,249,863
68$1,448,364$702,439$546,208$1,279,198
69$1,516,505$657,267$484,914$1,309,971
70$1,589,090$607,373$419,059$1,342,341
71$1,666,491$552,449$348,412$1,376,486
72$1,749,120$492,166$272,731$1,412,604
73$1,837,426$426,177$191,763$1,450,915
74$1,931,900$354,117$105,244$1,491,669
75$2,033,083$275,598$12,899$1,535,142
76$2,141,567$190,212$0$1,581,642
77$2,258,001$97,526$0$1,647,964
78$2,383,099$0$0$1,721,755
79$2,517,641$0$0$1,801,536
80$2,662,489$0$0$1,905,954
81$2,818,584$0$0$2,018,524
82$2,986,964$0$0$2,139,998
83$3,168,766$0$0$2,271,203
84$3,365,241$0$0$2,413,048
85$3,577,765$0$0$2,566,532
86$3,807,848$0$0$2,732,753
87$4,057,152$0$0$2,912,919
88$4,327,503$0$0$3,108,356
89$4,620,910$0$0$3,320,524
90$4,939,583$0$0$3,551,031
91$5,285,952$0$0$3,801,640
92$5,662,691$0$0$4,074,297
93$6,072,740$0$0$4,371,139
94$6,519,337$0$0$4,694,519
95$7,006,042$0$0$5,047,025
96$7,536,776$0$0$5,431,507
97$8,115,853$0$0$5,851,102
98$8,748,020$0$0$6,309,261
99$9,438,506$0$0$6,809,784
100$10,193,064$0$0$7,356,856