Can I retire at age 59 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$73,826$73,168$72,527$71,900$71,289$69,257
2 years$36,547$35,867$35,207$34,567$33,947$31,916
3 years$24,123$23,439$22,781$22,148$21,537$19,570
4 years$17,912$17,230$16,579$15,956$15,361$13,473
5 years$14,186$13,509$12,866$12,256$11,677$9,873
6 years$11,703$11,031$10,398$9,801$9,240$7,522
7 years$9,930$9,264$8,640$8,058$7,514$5,883
8 years$8,601$7,941$7,328$6,760$6,234$4,688
9 years$7,568$6,914$6,311$5,758$5,250$3,788
10 years$6,742$6,094$5,502$4,963$4,473$3,093
11 years$6,067$5,425$4,844$4,320$3,847$2,546
12 years$5,504$4,869$4,299$3,789$3,334$2,110
13 years$5,029$4,401$3,841$3,345$2,907$1,758
14 years$4,622$4,000$3,451$2,969$2,548$1,470
15 years$4,269$3,654$3,116$2,648$2,244$1,234
16 years$3,961$3,353$2,825$2,371$1,983$1,039
17 years$3,689$3,088$2,571$2,130$1,758$877
18 years$3,448$2,853$2,347$1,920$1,563$741
19 years$3,232$2,644$2,148$1,735$1,393$628
20 years$3,038$2,457$1,972$1,571$1,245$533
21 years$2,863$2,289$1,813$1,426$1,114$452
22 years$2,704$2,136$1,671$1,297$998$384
23 years$2,559$1,998$1,543$1,181$896$327
24 years$2,427$1,872$1,427$1,077$806$278
25 years$2,305$1,757$1,322$984$725$237
26 years$2,193$1,651$1,226$899$653$202
27 years$2,089$1,554$1,138$823$589$172
28 years$1,993$1,464$1,058$754$531$147
29 years$1,903$1,381$985$692$480$125
30 years$1,820$1,305$917$635$433$107
31 years$1,742$1,233$855$583$392$91
32 years$1,669$1,167$798$536$354$78
33 years$1,601$1,105$745$493$321$67
34 years$1,537$1,047$696$453$290$57
35 years$1,477$993$651$417$263$49
36 years$1,420$943$609$384$238$41
37 years$1,366$896$570$354$216$35
38 years$1,316$851$534$326$196$30
39 years$1,268$809$500$301$178$26
40 years$1,222$770$469$278$161$22
41 years$1,179$733$439$256$146$19
42 years$1,138$698$412$236$133$16
43 years$1,099$665$387$218$120$14
44 years$1,062$634$363$201$109$12
45 years$1,027$605$341$186$99$10
46 years$993$577$320$172$90$9
47 years$961$550$301$159$82$7
48 years$930$525$283$147$74$6
49 years$901$502$266$136$67$5
50 years$873$479$250$125$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $894,000, adding $5,658 every year, while hoping to spend $50,659 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: 86/8/6 Blend
58$894,000$894,000$894,000$894,000
59$991,024$943,642$929,785$1,075,513
60$1,038,208$935,980$907,032$1,123,771
61$1,088,506$926,244$881,819$1,169,218
62$1,142,184$914,280$854,010$1,217,525
63$1,199,530$899,923$823,463$1,268,943
64$1,260,862$883,000$790,029$1,323,750
65$1,326,528$863,325$753,553$1,382,250
66$1,396,909$840,703$713,872$1,444,778
67$1,472,424$814,927$670,817$1,511,704
68$1,553,532$785,779$624,210$1,583,433
69$1,640,737$753,027$573,865$1,660,412
70$1,734,592$716,425$519,590$1,743,133
71$1,835,705$675,715$461,181$1,832,138
72$1,944,744$630,621$398,427$1,928,024
73$2,062,441$580,855$331,107$2,031,448
74$2,189,602$526,109$258,992$2,143,133
75$2,327,112$466,059$181,839$2,263,876
76$2,475,945$400,364$99,398$2,394,556
77$2,637,170$328,660$11,407$2,536,140
78$2,811,964$250,567$0$2,689,693
79$3,001,619$165,679$0$2,861,673
80$3,207,558$73,572$0$3,049,212
81$3,431,346$0$0$3,253,027
82$3,674,704$0$0$3,477,015
83$3,939,525$0$0$3,727,816
84$4,227,893$0$0$4,000,927
85$4,542,101$0$0$4,298,521
86$4,884,670$0$0$4,622,988
87$5,258,380$0$0$4,976,961
88$5,666,284$0$0$5,363,336
89$6,111,749$0$0$5,785,300
90$6,598,478$0$0$6,246,365
91$7,130,548$0$0$6,750,393
92$7,712,449$0$0$7,301,640
93$8,349,123$0$0$7,904,789
94$9,046,012$0$0$8,564,998
95$9,809,111$0$0$9,287,947
96$10,645,018$0$0$10,079,890
97$11,561,003$0$0$10,947,716
98$12,565,069$0$0$11,899,010
99$13,666,032$0$0$12,942,126
100$14,873,602$0$0$14,086,267