Can I retire at age 59 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$73,743$73,086$72,445$71,820$71,209$70,879
2 years$36,506$35,827$35,168$34,529$33,909$33,576
3 years$24,096$23,413$22,756$22,123$21,513$21,188
4 years$17,892$17,211$16,560$15,938$15,343$15,027
5 years$14,170$13,494$12,852$12,242$11,664$11,358
6 years$11,690$11,019$10,386$9,790$9,229$8,935
7 years$9,919$9,253$8,631$8,049$7,506$7,223
8 years$8,592$7,932$7,320$6,752$6,227$5,955
9 years$7,560$6,906$6,304$5,751$5,244$4,983
10 years$6,735$6,087$5,496$4,958$4,468$4,218
11 years$6,060$5,419$4,839$4,315$3,843$3,604
12 years$5,498$4,864$4,294$3,785$3,330$3,102
13 years$5,023$4,396$3,837$3,341$2,904$2,686
14 years$4,616$3,996$3,447$2,966$2,545$2,338
15 years$4,264$3,650$3,112$2,645$2,241$2,044
16 years$3,956$3,349$2,822$2,368$1,981$1,793
17 years$3,685$3,084$2,568$2,128$1,756$1,578
18 years$3,444$2,850$2,344$1,918$1,562$1,392
19 years$3,229$2,641$2,146$1,733$1,392$1,231
20 years$3,035$2,454$1,969$1,569$1,243$1,091
21 years$2,860$2,286$1,811$1,424$1,113$969
22 years$2,701$2,134$1,670$1,295$997$862
23 years$2,557$1,996$1,542$1,179$895$767
24 years$2,424$1,870$1,426$1,076$805$684
25 years$2,302$1,755$1,320$982$724$610
26 years$2,190$1,649$1,225$898$652$545
27 years$2,086$1,552$1,137$822$588$487
28 years$1,990$1,463$1,057$753$531$436
29 years$1,901$1,380$984$691$479$390
30 years$1,818$1,303$916$634$433$349
31 years$1,740$1,232$854$582$391$313
32 years$1,667$1,166$797$535$354$281
33 years$1,599$1,104$744$492$320$252
34 years$1,535$1,046$695$453$290$226
35 years$1,475$992$650$417$263$203
36 years$1,418$942$608$384$238$182
37 years$1,365$895$569$354$216$163
38 years$1,314$850$533$326$196$147
39 years$1,266$808$499$301$177$132
40 years$1,221$769$468$277$161$119
41 years$1,178$732$439$256$146$107
42 years$1,137$697$412$236$132$96
43 years$1,098$664$386$218$120$86
44 years$1,061$633$363$201$109$77
45 years$1,026$604$341$186$99$70
46 years$992$576$320$172$90$63
47 years$960$550$300$159$82$56
48 years$929$525$282$147$74$51
49 years$900$501$265$135$67$46
50 years$872$479$250$125$61$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $893,000, adding $5,056 every year, while hoping to spend $29,907 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: 69/8/23 Blend
58$893,000$893,000$893,000$893,000
59$989,301$941,972$928,131$1,051,489
60$1,058,389$956,308$927,402$1,108,089
61$1,133,522$970,344$925,647$1,166,061
62$1,215,284$984,034$922,799$1,228,788
63$1,304,319$997,328$918,789$1,296,739
64$1,401,336$1,010,173$913,545$1,370,430
65$1,507,114$1,022,513$906,990$1,450,432
66$1,622,511$1,034,287$899,046$1,537,373
67$1,748,470$1,045,431$889,627$1,631,946
68$1,886,033$1,055,876$878,648$1,734,914
69$2,036,342$1,065,547$866,017$1,847,120
70$2,200,657$1,074,368$851,637$1,969,493
71$2,380,366$1,082,254$835,408$2,103,056
72$2,576,995$1,089,116$817,227$2,248,939
73$2,792,226$1,094,860$796,981$2,408,385
74$3,027,911$1,099,386$774,558$2,582,768
75$3,286,088$1,102,586$749,835$2,773,599
76$3,569,003$1,104,346$722,689$2,982,548
77$3,879,129$1,104,547$692,987$3,211,453
78$4,219,189$1,103,059$660,591$3,462,342
79$4,592,184$1,099,747$625,359$3,737,451
80$5,001,418$1,094,465$587,139$4,039,244
81$5,450,529$1,087,061$545,775$4,370,438
82$5,943,528$1,077,371$501,103$4,734,030
83$6,484,829$1,065,224$452,951$5,133,322
84$7,079,297$1,050,436$401,141$5,571,955
85$7,732,291$1,032,813$345,485$6,053,943
86$8,449,714$1,012,150$285,787$6,583,711
87$9,238,069$988,229$221,846$7,166,138
88$10,104,520$960,821$153,446$7,806,601
89$11,056,961$929,681$80,366$8,511,029
90$12,104,087$894,551$2,374$9,285,957
91$13,255,478$855,158$0$10,138,591
92$14,521,690$811,214$0$11,096,713
93$15,914,351$762,412$0$12,151,148
94$17,446,274$708,429$0$13,311,027
95$19,131,575$648,924$0$14,587,055
96$20,985,810$583,535$0$15,991,029
97$23,026,115$511,881$0$17,535,946
98$25,271,374$433,558$0$19,236,131
99$27,742,392$348,140$0$21,107,368
100$30,462,093$255,177$0$23,167,051