Can I retire at age 59 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$75,642$74,969$74,311$73,670$73,043$70,396
2 years$37,447$36,749$36,073$35,418$34,782$32,144
3 years$24,717$24,016$23,342$22,693$22,067$19,521
4 years$18,353$17,654$16,987$16,349$15,739$13,304
5 years$14,535$13,841$13,183$12,557$11,964$9,648
6 years$11,991$11,302$10,653$10,042$9,467$7,270
7 years$10,175$9,492$8,853$8,256$7,699$5,621
8 years$8,813$8,136$7,508$6,926$6,387$4,427
9 years$7,755$7,084$6,467$5,899$5,379$3,533
10 years$6,908$6,244$5,638$5,085$4,583$2,849
11 years$6,216$5,559$4,963$4,426$3,942$2,315
12 years$5,640$4,989$4,405$3,882$3,416$1,893
13 years$5,153$4,509$3,936$3,427$2,979$1,556
14 years$4,735$4,098$3,536$3,042$2,611$1,284
15 years$4,374$3,744$3,193$2,713$2,299$1,062
16 years$4,058$3,435$2,895$2,429$2,032$882
17 years$3,780$3,164$2,634$2,183$1,802$733
18 years$3,533$2,923$2,404$1,967$1,602$611
19 years$3,312$2,709$2,201$1,777$1,428$509
20 years$3,113$2,518$2,020$1,610$1,275$426
21 years$2,934$2,345$1,858$1,461$1,141$356
22 years$2,771$2,189$1,713$1,328$1,023$298
23 years$2,622$2,047$1,581$1,210$918$249
24 years$2,486$1,918$1,462$1,103$825$209
25 years$2,362$1,800$1,354$1,008$743$175
26 years$2,247$1,692$1,256$921$669$147
27 years$2,140$1,592$1,166$843$603$123
28 years$2,042$1,500$1,084$773$544$103
29 years$1,950$1,415$1,009$709$491$87
30 years$1,865$1,337$940$650$444$73
31 years$1,785$1,264$876$597$401$61
32 years$1,710$1,196$818$549$363$51
33 years$1,640$1,132$763$505$329$43
34 years$1,575$1,073$713$464$298$36
35 years$1,513$1,018$667$428$270$30
36 years$1,455$966$624$394$244$26
37 years$1,400$918$584$363$221$21
38 years$1,348$872$547$334$201$18
39 years$1,299$829$512$308$182$15
40 years$1,252$789$480$284$165$13
41 years$1,208$751$450$262$150$11
42 years$1,166$715$422$242$136$9
43 years$1,126$681$396$224$123$8
44 years$1,088$650$372$206$112$6
45 years$1,052$619$349$191$102$5
46 years$1,018$591$328$176$92$4
47 years$985$564$308$163$84$4
48 years$953$538$290$150$76$3
49 years$923$514$272$139$69$3
50 years$894$491$256$128$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $916,000, adding $4,719 every year, while hoping to spend $20,286 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: 64/23/13 Blend
58$916,000$916,000$916,000$916,000
59$1,014,300$965,752$951,554$1,075,824
60$1,096,174$991,489$961,847$1,143,301
61$1,185,720$1,017,808$971,804$1,214,199
62$1,283,698$1,044,716$981,394$1,291,138
63$1,390,946$1,072,218$990,582$1,374,707
64$1,508,388$1,100,321$999,332$1,465,552
65$1,637,039$1,129,033$1,007,605$1,564,388
66$1,778,018$1,158,357$1,015,361$1,671,999
67$1,932,558$1,188,298$1,022,558$1,789,251
68$2,102,017$1,218,863$1,029,151$1,917,095
69$2,287,889$1,250,053$1,035,094$2,056,581
70$2,491,821$1,281,873$1,040,337$2,208,865
71$2,715,627$1,314,326$1,044,829$2,375,219
72$2,961,305$1,347,412$1,048,515$2,557,046
73$3,231,056$1,381,132$1,051,338$2,755,891
74$3,527,304$1,415,488$1,053,238$2,973,455
75$3,852,719$1,450,477$1,054,152$3,211,614
76$4,210,244$1,486,099$1,054,014$3,472,432
77$4,603,120$1,522,348$1,052,754$3,758,187
78$5,034,918$1,559,223$1,050,301$4,071,385
79$5,509,570$1,596,716$1,046,577$4,414,790
80$6,031,412$1,634,820$1,041,502$4,791,445
81$6,605,217$1,673,527$1,034,994$5,204,705
82$7,236,246$1,712,827$1,026,963$5,658,266
83$7,930,295$1,752,708$1,017,318$6,156,200
84$8,693,750$1,793,155$1,005,963$6,702,994
85$9,533,645$1,834,152$992,796$7,303,594
86$10,457,734$1,875,683$977,711$7,963,448
87$11,474,557$1,917,725$960,598$8,688,561
88$12,593,525$1,960,257$941,342$9,485,548
89$13,825,008$2,003,253$919,820$10,361,701
90$15,180,430$2,046,684$895,905$11,325,054
91$16,672,382$2,090,519$869,466$12,384,461
92$18,314,734$2,134,724$840,363$13,549,679
93$20,122,772$2,179,261$808,450$14,831,458
94$22,113,338$2,224,088$773,576$16,241,647
95$24,304,990$2,269,160$735,583$17,793,303
96$26,718,178$2,314,427$694,303$19,500,815
97$29,375,434$2,359,836$649,564$21,380,037
98$32,301,588$2,405,328$601,185$23,448,444
99$35,524,001$2,450,839$548,975$25,725,292
100$39,072,821$2,496,302$492,737$28,231,801