Can I retire at age 59 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$74,073$73,414$72,770$72,142$71,528$69,827
2 years$36,670$35,987$35,325$34,683$34,061$32,357
3 years$24,204$23,518$22,858$22,222$21,610$19,957
4 years$17,972$17,288$16,635$16,010$15,412$13,822
5 years$14,234$13,554$12,909$12,297$11,716$10,194
6 years$11,743$11,068$10,432$9,834$9,271$7,817
7 years$9,964$9,295$8,669$8,085$7,539$6,156
8 years$8,630$7,967$7,352$6,782$6,255$4,940
9 years$7,594$6,937$6,333$5,777$5,267$4,020
10 years$6,765$6,115$5,521$4,980$4,488$3,307
11 years$6,087$5,444$4,861$4,334$3,860$2,744
12 years$5,523$4,886$4,314$3,802$3,345$2,292
13 years$5,046$4,415$3,854$3,356$2,917$1,924
14 years$4,637$4,013$3,463$2,979$2,557$1,623
15 years$4,283$3,666$3,126$2,657$2,251$1,374
16 years$3,974$3,364$2,835$2,379$1,990$1,167
17 years$3,701$3,098$2,579$2,138$1,764$993
18 years$3,459$2,863$2,355$1,926$1,569$847
19 years$3,243$2,653$2,156$1,741$1,398$724
20 years$3,049$2,465$1,978$1,576$1,249$620
21 years$2,873$2,296$1,820$1,431$1,118$531
22 years$2,713$2,144$1,677$1,301$1,002$456
23 years$2,568$2,005$1,548$1,185$899$391
24 years$2,435$1,878$1,432$1,081$808$336
25 years$2,313$1,763$1,326$987$727$289
26 years$2,200$1,657$1,230$902$655$249
27 years$2,096$1,559$1,142$826$591$214
28 years$1,999$1,469$1,062$757$533$185
29 years$1,909$1,386$988$694$481$159
30 years$1,826$1,309$920$637$435$137
31 years$1,748$1,237$858$585$393$118
32 years$1,675$1,171$801$538$356$102
33 years$1,606$1,109$748$494$322$88
34 years$1,542$1,051$698$455$291$76
35 years$1,482$997$653$419$264$65
36 years$1,425$946$611$386$239$56
37 years$1,371$899$572$355$217$49
38 years$1,320$854$535$327$196$42
39 years$1,272$812$502$302$178$36
40 years$1,226$773$470$278$162$31
41 years$1,183$735$441$257$147$27
42 years$1,142$700$414$237$133$23
43 years$1,103$667$388$219$121$20
44 years$1,066$636$364$202$110$17
45 years$1,030$607$342$187$99$15
46 years$997$579$321$172$90$13
47 years$964$552$302$159$82$11
48 years$933$527$284$147$74$10
49 years$904$503$267$136$68$8
50 years$876$481$251$126$61$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $897,000, adding $3,057 every year, while hoping to spend $42,670 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: 65/22/13 Blend
58$897,000$897,000$897,000$897,000
59$991,647$944,106$930,203$1,052,918
60$1,047,395$944,967$915,964$1,095,090
61$1,107,398$944,440$899,818$1,135,896
62$1,172,047$942,411$881,656$1,179,416
63$1,241,769$938,762$861,364$1,225,913
64$1,317,032$933,364$838,823$1,275,677
65$1,398,353$926,083$813,907$1,329,032
66$1,486,299$916,775$786,487$1,386,331
67$1,581,493$905,289$756,426$1,447,969
68$1,684,620$891,462$723,581$1,514,380
69$1,796,432$875,125$687,802$1,586,043
70$1,917,760$856,098$648,935$1,663,491
71$2,049,512$834,187$606,815$1,747,308
72$2,192,692$809,192$561,273$1,838,144
73$2,348,401$780,897$512,130$1,936,715
74$2,517,852$749,075$459,200$2,043,812
75$2,702,379$713,486$402,290$2,160,309
76$2,903,451$673,876$341,196$2,287,173
77$3,122,683$629,976$275,706$2,425,470
78$3,361,854$581,502$205,599$2,576,380
79$3,622,921$528,154$130,645$2,741,203
80$3,908,039$469,613$50,601$2,921,379
81$4,219,579$405,545$0$3,118,494
82$4,560,154$335,594$0$3,339,134
83$4,932,638$259,387$0$3,588,207
84$5,340,197$176,526$0$3,860,864
85$5,786,317$86,595$0$4,159,506
86$6,274,835$0$0$4,486,780
87$6,809,979$0$0$4,848,231
88$7,396,404$0$0$5,267,350
89$8,039,236$0$0$5,726,843
90$8,744,121$0$0$6,230,755
91$9,517,279$0$0$6,783,539
92$10,365,558$0$0$7,390,101
93$11,296,503$0$0$8,055,842
94$12,318,425$0$0$8,786,716
95$13,440,478$0$0$9,589,278
96$14,672,747$0$0$10,470,750
97$16,026,338$0$0$11,439,089
98$17,513,491$0$0$12,503,058
99$19,147,685$0$0$13,672,313
100$20,943,774$0$0$14,957,492