Can I retire at age 59 with 908,000?

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 $908,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$74,982$74,314$73,662$73,026$72,405$70,512
2 years$37,120$36,428$35,758$35,109$34,479$32,584
3 years$24,501$23,806$23,138$22,495$21,875$20,038
4 years$18,192$17,500$16,839$16,206$15,601$13,837
5 years$14,408$13,720$13,067$12,448$11,860$10,172
6 years$11,887$11,204$10,560$9,955$9,384$7,775
7 years$10,086$9,409$8,776$8,184$7,632$6,102
8 years$8,736$8,065$7,443$6,866$6,331$4,879
9 years$7,687$7,022$6,410$5,848$5,332$3,957
10 years$6,848$6,190$5,589$5,041$4,543$3,243
11 years$6,162$5,510$4,920$4,387$3,907$2,680
12 years$5,591$4,946$4,366$3,848$3,386$2,230
13 years$5,108$4,470$3,901$3,397$2,953$1,865
14 years$4,694$4,063$3,505$3,016$2,588$1,567
15 years$4,336$3,711$3,165$2,690$2,279$1,321
16 years$4,023$3,405$2,869$2,408$2,014$1,117
17 years$3,747$3,136$2,611$2,164$1,786$946
18 years$3,502$2,898$2,383$1,950$1,588$804
19 years$3,283$2,686$2,182$1,762$1,415$684
20 years$3,086$2,496$2,002$1,596$1,264$583
21 years$2,908$2,325$1,842$1,448$1,131$497
22 years$2,747$2,170$1,698$1,317$1,014$424
23 years$2,599$2,029$1,567$1,199$910$363
24 years$2,465$1,901$1,450$1,094$818$310
25 years$2,341$1,784$1,343$999$736$266
26 years$2,227$1,677$1,245$913$663$227
27 years$2,121$1,578$1,156$836$598$195
28 years$2,024$1,487$1,075$766$539$167
29 years$1,933$1,403$1,000$702$487$143
30 years$1,848$1,325$932$645$440$123
31 years$1,769$1,253$869$592$398$105
32 years$1,695$1,185$810$544$360$90
33 years$1,626$1,122$757$500$326$78
34 years$1,561$1,064$707$460$295$67
35 years$1,500$1,009$661$424$267$57
36 years$1,442$958$618$390$242$49
37 years$1,388$910$579$360$219$42
38 years$1,336$864$542$331$199$36
39 years$1,288$822$508$306$180$31
40 years$1,241$782$476$282$164$27
41 years$1,198$744$446$260$148$23
42 years$1,156$709$419$240$135$20
43 years$1,116$676$393$222$122$17
44 years$1,079$644$369$205$111$15
45 years$1,043$614$346$189$101$12
46 years$1,009$586$325$175$91$11
47 years$976$559$306$161$83$9
48 years$945$534$287$149$75$8
49 years$915$510$270$138$68$7
50 years$887$487$254$127$62$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $908,000, adding $5,720 every year, while hoping to spend $36,143 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: 78/6/16 Blend
58$908,000$908,000$908,000$908,000
59$1,006,516$958,392$944,318$1,081,116
60$1,070,725$966,898$937,497$1,139,612
61$1,140,272$974,608$929,236$1,198,617
62$1,215,663$981,447$919,449$1,262,342
63$1,297,455$987,333$908,044$1,331,245
64$1,386,260$992,177$894,929$1,405,832
65$1,482,752$995,887$880,002$1,486,658
66$1,587,672$998,364$863,162$1,574,338
67$1,701,834$999,504$844,297$1,669,548
68$1,826,136$999,195$823,296$1,773,033
69$1,961,564$997,318$800,039$1,885,614
70$2,109,204$993,747$774,401$2,008,196
71$2,270,252$988,350$746,253$2,141,778
72$2,446,023$980,984$715,457$2,287,457
73$2,637,965$971,500$681,873$2,446,447
74$2,847,673$959,738$645,350$2,620,082
75$3,076,900$945,530$605,734$2,809,836
76$3,327,580$928,697$562,862$3,017,331
77$3,601,839$909,050$516,564$3,244,356
78$3,902,021$886,387$466,663$3,492,882
79$4,230,704$860,497$412,973$3,765,083
80$4,590,729$831,154$355,301$4,063,355
81$4,985,224$798,122$293,445$4,390,337
82$5,417,634$761,147$227,192$4,748,941
83$5,891,753$719,964$156,324$5,142,375
84$6,411,761$674,291$80,609$5,574,175
85$6,982,259$623,830$0$6,048,239
86$7,608,318$568,266$0$6,568,897
87$8,295,521$507,266$0$7,155,540
88$9,050,021$440,478$0$7,799,658
89$9,878,593$367,532$0$8,507,050
90$10,788,702$288,033$0$9,284,109
91$11,788,570$201,567$0$10,137,875
92$12,887,257$107,696$0$11,076,108
93$14,094,741$5,958$0$12,107,357
94$15,422,018$0$0$13,241,041
95$16,881,200$0$0$14,494,413
96$18,485,632$0$0$15,873,015
97$20,250,016$0$0$17,389,090
98$22,190,551$0$0$19,056,560
99$24,325,085$0$0$20,890,767
100$26,673,280$0$0$22,908,611