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%17%
1 years$74,073$73,414$72,770$72,142$71,528$69,489
2 years$36,670$35,987$35,325$34,683$34,061$32,023
3 years$24,204$23,518$22,858$22,222$21,610$19,636
4 years$17,972$17,288$16,635$16,010$15,412$13,518
5 years$14,234$13,554$12,909$12,297$11,716$9,907
6 years$11,743$11,068$10,432$9,834$9,271$7,548
7 years$9,964$9,295$8,669$8,085$7,539$5,903
8 years$8,630$7,967$7,352$6,782$6,255$4,704
9 years$7,594$6,937$6,333$5,777$5,267$3,800
10 years$6,765$6,115$5,521$4,980$4,488$3,103
11 years$6,087$5,444$4,861$4,334$3,860$2,555
12 years$5,523$4,886$4,314$3,802$3,345$2,117
13 years$5,046$4,415$3,854$3,356$2,917$1,764
14 years$4,637$4,013$3,463$2,979$2,557$1,475
15 years$4,283$3,666$3,126$2,657$2,251$1,238
16 years$3,974$3,364$2,835$2,379$1,990$1,043
17 years$3,701$3,098$2,579$2,138$1,764$880
18 years$3,459$2,863$2,355$1,926$1,569$744
19 years$3,243$2,653$2,156$1,741$1,398$630
20 years$3,049$2,465$1,978$1,576$1,249$534
21 years$2,873$2,296$1,820$1,431$1,118$454
22 years$2,713$2,144$1,677$1,301$1,002$386
23 years$2,568$2,005$1,548$1,185$899$328
24 years$2,435$1,878$1,432$1,081$808$279
25 years$2,313$1,763$1,326$987$727$238
26 years$2,200$1,657$1,230$902$655$203
27 years$2,096$1,559$1,142$826$591$173
28 years$1,999$1,469$1,062$757$533$147
29 years$1,909$1,386$988$694$481$126
30 years$1,826$1,309$920$637$435$107
31 years$1,748$1,237$858$585$393$92
32 years$1,675$1,171$801$538$356$78
33 years$1,606$1,109$748$494$322$67
34 years$1,542$1,051$698$455$291$57
35 years$1,482$997$653$419$264$49
36 years$1,425$946$611$386$239$42
37 years$1,371$899$572$355$217$36
38 years$1,320$854$535$327$196$30
39 years$1,272$812$502$302$178$26
40 years$1,226$773$470$278$162$22
41 years$1,183$735$441$257$147$19
42 years$1,142$700$414$237$133$16
43 years$1,103$667$388$219$121$14
44 years$1,066$636$364$202$110$12
45 years$1,030$607$342$187$99$10
46 years$997$579$321$172$90$9
47 years$964$552$302$159$82$7
48 years$933$527$284$147$74$6
49 years$904$503$267$136$68$5
50 years$876$481$251$126$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $897,000, adding $4,695 every year, while hoping to spend $55,653 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: 49/44/7 Blend
58$897,000$897,000$897,000$897,000
59$993,337$945,796$931,892$1,039,984
60$1,035,443$932,926$903,896$1,059,487
61$1,079,978$917,559$873,097$1,074,353
62$1,127,133$899,516$839,342$1,089,187
63$1,177,112$878,604$802,472$1,104,002
64$1,230,142$854,620$762,320$1,118,814
65$1,286,469$827,350$718,710$1,133,643
66$1,346,364$796,565$671,462$1,148,519
67$1,410,122$762,025$620,384$1,163,475
68$1,478,065$723,474$565,278$1,178,554
69$1,550,547$680,645$505,935$1,193,809
70$1,627,957$633,251$442,138$1,209,300
71$1,710,720$580,991$373,660$1,225,103
72$1,799,301$523,547$300,265$1,241,305
73$1,894,210$460,581$221,705$1,258,008
74$1,996,009$391,739$137,721$1,275,333
75$2,105,312$316,645$48,045$1,293,419
76$2,222,794$234,900$0$1,312,427
77$2,349,195$146,086$0$1,336,100
78$2,485,329$49,761$0$1,365,155
79$2,632,089$0$0$1,396,264
80$2,790,455$0$0$1,456,139
81$2,961,507$0$0$1,546,908
82$3,146,429$0$0$1,645,116
83$3,346,522$0$0$1,751,465
84$3,563,219$0$0$1,866,726
85$3,798,092$0$0$1,991,746
86$4,052,871$0$0$2,127,459
87$4,329,461$0$0$2,274,890
88$4,629,954$0$0$2,435,168
89$4,956,651$0$0$2,609,533
90$5,312,087$0$0$2,799,352
91$5,699,048$0$0$3,006,128
92$6,120,600$0$0$3,231,513
93$6,580,119$0$0$3,477,329
94$7,081,317$0$0$3,745,579
95$7,628,284$0$0$4,038,467
96$8,225,519$0$0$4,358,421
97$8,877,975$0$0$4,708,113
98$9,591,105$0$0$5,090,486
99$10,370,912$0$0$5,508,778
100$11,224,009$0$0$5,966,557