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%19.2%
1 years$75,642$74,969$74,311$73,670$73,043$70,340
2 years$37,447$36,749$36,073$35,418$34,782$32,089
3 years$24,717$24,016$23,342$22,693$22,067$19,469
4 years$18,353$17,654$16,987$16,349$15,739$13,255
5 years$14,535$13,841$13,183$12,557$11,964$9,602
6 years$11,991$11,302$10,653$10,042$9,467$7,228
7 years$10,175$9,492$8,853$8,256$7,699$5,582
8 years$8,813$8,136$7,508$6,926$6,387$4,391
9 years$7,755$7,084$6,467$5,899$5,379$3,500
10 years$6,908$6,244$5,638$5,085$4,583$2,819
11 years$6,216$5,559$4,963$4,426$3,942$2,288
12 years$5,640$4,989$4,405$3,882$3,416$1,868
13 years$5,153$4,509$3,936$3,427$2,979$1,533
14 years$4,735$4,098$3,536$3,042$2,611$1,263
15 years$4,374$3,744$3,193$2,713$2,299$1,044
16 years$4,058$3,435$2,895$2,429$2,032$865
17 years$3,780$3,164$2,634$2,183$1,802$718
18 years$3,533$2,923$2,404$1,967$1,602$597
19 years$3,312$2,709$2,201$1,777$1,428$498
20 years$3,113$2,518$2,020$1,610$1,275$415
21 years$2,934$2,345$1,858$1,461$1,141$346
22 years$2,771$2,189$1,713$1,328$1,023$289
23 years$2,622$2,047$1,581$1,210$918$242
24 years$2,486$1,918$1,462$1,103$825$202
25 years$2,362$1,800$1,354$1,008$743$169
26 years$2,247$1,692$1,256$921$669$142
27 years$2,140$1,592$1,166$843$603$119
28 years$2,042$1,500$1,084$773$544$100
29 years$1,950$1,415$1,009$709$491$83
30 years$1,865$1,337$940$650$444$70
31 years$1,785$1,264$876$597$401$59
32 years$1,710$1,196$818$549$363$49
33 years$1,640$1,132$763$505$329$41
34 years$1,575$1,073$713$464$298$35
35 years$1,513$1,018$667$428$270$29
36 years$1,455$966$624$394$244$24
37 years$1,400$918$584$363$221$20
38 years$1,348$872$547$334$201$17
39 years$1,299$829$512$308$182$14
40 years$1,252$789$480$284$165$12
41 years$1,208$751$450$262$150$10
42 years$1,166$715$422$242$136$8
43 years$1,126$681$396$224$123$7
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$2
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 $2,740 every year, while hoping to spend $28,715 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: 65/8/27 Blend
58$916,000$916,000$916,000$916,000
59$1,012,258$963,710$949,512$1,070,688
60$1,084,956$980,380$950,768$1,127,156
61$1,164,107$996,903$951,104$1,185,409
62$1,250,338$1,013,244$950,459$1,248,446
63$1,344,341$1,029,361$948,767$1,316,742
64$1,446,876$1,045,212$945,963$1,390,819
65$1,558,779$1,060,750$941,975$1,471,253
66$1,680,974$1,075,925$936,730$1,558,680
67$1,814,473$1,090,685$930,150$1,653,800
68$1,960,392$1,104,973$922,154$1,757,385
69$2,119,963$1,118,727$912,657$1,870,287
70$2,294,537$1,131,882$901,569$1,993,445
71$2,485,606$1,144,370$888,797$2,127,895
72$2,694,809$1,156,116$874,244$2,274,780
73$2,923,956$1,167,042$857,806$2,435,358
74$3,175,034$1,177,062$839,378$2,611,019
75$3,450,238$1,186,088$818,847$2,803,293
76$3,751,979$1,194,023$796,096$3,013,869
77$4,082,917$1,200,767$771,001$3,244,609
78$4,445,981$1,206,210$743,436$3,497,565
79$4,844,395$1,210,238$713,265$3,775,002
80$5,281,712$1,212,729$680,348$4,079,414
81$5,761,846$1,213,552$644,539$4,413,552
82$6,289,108$1,212,570$605,685$4,780,452
83$6,868,247$1,209,636$563,625$5,183,457
84$7,504,493$1,204,593$518,192$5,626,255
85$8,203,611$1,197,278$469,211$6,112,912
86$8,971,950$1,187,514$416,500$6,647,910
87$9,816,503$1,175,117$359,867$7,236,191
88$10,744,977$1,159,889$299,113$7,883,202
89$11,765,862$1,141,620$234,031$8,594,950
90$12,888,512$1,120,092$164,402$9,378,055
91$14,123,231$1,095,067$90,001$10,239,817
92$15,481,375$1,066,300$10,591$11,188,282
93$16,975,453$1,033,527$0$12,232,319
94$18,619,249$996,469$0$13,403,071
95$20,427,950$954,833$0$14,694,597
96$22,418,288$908,308$0$16,115,803
97$24,608,702$856,563$0$17,679,866
98$27,019,505$799,251$0$19,401,310
99$29,673,084$736,003$0$21,296,136
100$32,594,101$666,430$0$23,381,977