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%19.3%
1 years$74,073$73,414$72,770$72,142$71,528$68,853
2 years$36,670$35,987$35,325$34,683$34,061$31,397
3 years$24,204$23,518$22,858$22,222$21,610$19,040
4 years$17,972$17,288$16,635$16,010$15,412$12,957
5 years$14,234$13,554$12,909$12,297$11,716$9,381
6 years$11,743$11,068$10,432$9,834$9,271$7,057
7 years$9,964$9,295$8,669$8,085$7,539$5,448
8 years$8,630$7,967$7,352$6,782$6,255$4,282
9 years$7,594$6,937$6,333$5,777$5,267$3,412
10 years$6,765$6,115$5,521$4,980$4,488$2,746
11 years$6,087$5,444$4,861$4,334$3,860$2,227
12 years$5,523$4,886$4,314$3,802$3,345$1,817
13 years$5,046$4,415$3,854$3,356$2,917$1,490
14 years$4,637$4,013$3,463$2,979$2,557$1,227
15 years$4,283$3,666$3,126$2,657$2,251$1,013
16 years$3,974$3,364$2,835$2,379$1,990$839
17 years$3,701$3,098$2,579$2,138$1,764$696
18 years$3,459$2,863$2,355$1,926$1,569$579
19 years$3,243$2,653$2,156$1,741$1,398$482
20 years$3,049$2,465$1,978$1,576$1,249$401
21 years$2,873$2,296$1,820$1,431$1,118$335
22 years$2,713$2,144$1,677$1,301$1,002$280
23 years$2,568$2,005$1,548$1,185$899$234
24 years$2,435$1,878$1,432$1,081$808$195
25 years$2,313$1,763$1,326$987$727$163
26 years$2,200$1,657$1,230$902$655$137
27 years$2,096$1,559$1,142$826$591$114
28 years$1,999$1,469$1,062$757$533$96
29 years$1,909$1,386$988$694$481$80
30 years$1,826$1,309$920$637$435$67
31 years$1,748$1,237$858$585$393$56
32 years$1,675$1,171$801$538$356$47
33 years$1,606$1,109$748$494$322$39
34 years$1,542$1,051$698$455$291$33
35 years$1,482$997$653$419$264$28
36 years$1,425$946$611$386$239$23
37 years$1,371$899$572$355$217$19
38 years$1,320$854$535$327$196$16
39 years$1,272$812$502$302$178$14
40 years$1,226$773$470$278$162$11
41 years$1,183$735$441$257$147$10
42 years$1,142$700$414$237$133$8
43 years$1,103$667$388$219$121$7
44 years$1,066$636$364$202$110$6
45 years$1,030$607$342$187$99$5
46 years$997$579$321$172$90$4
47 years$964$552$302$159$82$3
48 years$933$527$284$147$74$3
49 years$904$503$267$136$68$2
50 years$876$481$251$126$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $897,000, adding $4,685 every year, while hoping to spend $41,240 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: 43/49/8 Blend
58$897,000$897,000$897,000$897,000
59$993,327$945,786$931,882$1,033,548
60$1,050,767$948,250$919,221$1,064,423
61$1,112,684$949,453$904,754$1,093,283
62$1,179,491$949,289$888,376$1,123,602
63$1,251,641$947,647$869,979$1,155,530
64$1,329,634$944,407$849,449$1,189,232
65$1,414,017$939,444$826,666$1,224,893
66$1,505,394$932,623$801,506$1,262,721
67$1,604,426$923,803$773,838$1,302,944
68$1,711,841$912,834$743,526$1,345,821
69$1,828,442$899,556$710,427$1,391,637
70$1,955,109$883,800$674,392$1,440,710
71$2,092,811$865,387$635,266$1,493,395
72$2,242,615$844,128$592,884$1,550,087
73$2,405,693$819,822$547,077$1,611,224
74$2,583,337$792,256$497,667$1,677,294
75$2,776,966$761,206$444,468$1,748,839
76$2,988,145$726,433$387,286$1,826,462
77$3,218,594$687,687$325,918$1,910,833
78$3,470,207$644,699$260,153$2,002,694
79$3,745,069$597,190$189,769$2,102,871
80$4,045,475$544,862$114,535$2,212,279
81$4,373,952$487,399$34,211$2,331,935
82$4,733,284$424,470$0$2,462,966
83$5,126,532$355,722$0$2,611,017
84$5,557,071$280,785$0$2,776,479
85$6,028,615$199,266$0$2,957,989
86$6,545,255$110,752$0$3,157,270
87$7,111,497$14,805$0$3,376,234
88$7,732,303$0$0$3,616,995
89$8,413,137$0$0$3,929,899
90$9,160,018$0$0$4,282,028
91$9,979,576$0$0$4,668,540
92$10,879,115$0$0$5,092,894
93$11,866,677$0$0$5,558,898
94$12,951,124$0$0$6,070,751
95$14,142,218$0$0$6,633,075
96$15,450,710$0$0$7,250,964
97$16,888,448$0$0$7,930,029
98$18,468,480$0$0$8,676,452
99$20,205,183$0$0$9,497,043
100$22,114,398$0$0$10,399,306