Can I retire at age 59 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$76,303$75,623$74,960$74,313$73,681$72,164
2 years$37,774$37,070$36,388$35,727$35,086$33,565
3 years$24,932$24,226$23,546$22,891$22,260$20,782
4 years$18,513$17,809$17,135$16,492$15,876$14,452
5 years$14,662$13,962$13,298$12,667$12,069$10,703
6 years$12,096$11,401$10,747$10,130$9,550$8,244
7 years$10,264$9,575$8,930$8,328$7,766$6,521
8 years$8,890$8,207$7,574$6,987$6,443$5,257
9 years$7,822$7,146$6,523$5,951$5,426$4,299
10 years$6,968$6,299$5,687$5,130$4,623$3,554
11 years$6,270$5,607$5,007$4,464$3,976$2,964
12 years$5,689$5,033$4,443$3,916$3,446$2,488
13 years$5,198$4,548$3,970$3,457$3,005$2,101
14 years$4,777$4,134$3,567$3,069$2,634$1,782
15 years$4,412$3,777$3,221$2,737$2,319$1,517
16 years$4,094$3,465$2,920$2,451$2,050$1,295
17 years$3,813$3,191$2,657$2,202$1,817$1,109
18 years$3,564$2,949$2,425$1,984$1,616$952
19 years$3,341$2,733$2,220$1,793$1,440$818
20 years$3,140$2,540$2,038$1,624$1,286$704
21 years$2,959$2,366$1,874$1,474$1,151$607
22 years$2,795$2,208$1,728$1,340$1,032$524
23 years$2,645$2,065$1,595$1,220$926$453
24 years$2,508$1,935$1,475$1,113$833$392
25 years$2,382$1,816$1,366$1,017$749$339
26 years$2,266$1,707$1,267$929$675$294
27 years$2,159$1,606$1,177$851$608$254
28 years$2,059$1,513$1,094$779$549$221
29 years$1,967$1,428$1,018$715$496$191
30 years$1,881$1,348$948$656$448$166
31 years$1,800$1,275$884$602$405$144
32 years$1,725$1,206$825$554$366$125
33 years$1,655$1,142$770$509$332$109
34 years$1,589$1,083$720$468$300$94
35 years$1,526$1,027$673$431$272$82
36 years$1,468$975$629$397$246$71
37 years$1,412$926$589$366$223$62
38 years$1,360$880$552$337$202$54
39 years$1,310$836$517$311$184$47
40 years$1,263$796$484$287$166$41
41 years$1,219$758$454$265$151$35
42 years$1,176$721$426$244$137$31
43 years$1,136$687$400$225$124$27
44 years$1,098$655$375$208$113$23
45 years$1,061$625$352$192$102$20
46 years$1,027$596$331$178$93$17
47 years$993$569$311$164$84$15
48 years$962$543$292$152$77$13
49 years$931$519$275$140$70$11
50 years$902$495$258$130$63$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $924,000, adding $2,442 every year, while hoping to spend $29,744 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: 54/22/24 Blend
58$924,000$924,000$924,000$924,000
59$1,020,767$971,795$957,473$1,069,014
60$1,093,238$987,765$957,901$1,118,457
61$1,172,104$1,003,522$957,346$1,168,961
62$1,257,986$1,019,022$955,745$1,223,323
63$1,351,567$1,034,221$953,029$1,281,924
64$1,453,600$1,049,070$949,128$1,345,182
65$1,564,911$1,063,518$943,968$1,413,559
66$1,686,412$1,077,511$937,471$1,487,565
67$1,819,105$1,090,988$929,555$1,567,764
68$1,964,094$1,103,887$920,136$1,654,776
69$2,122,595$1,116,140$909,124$1,749,287
70$2,295,944$1,127,676$896,424$1,852,054
71$2,485,616$1,138,418$881,940$1,963,911
72$2,693,233$1,148,284$865,569$2,085,779
73$2,920,580$1,157,187$847,202$2,218,674
74$3,169,624$1,165,035$826,729$2,363,719
75$3,442,532$1,171,728$804,031$2,522,149
76$3,741,689$1,177,161$778,985$2,695,330
77$4,069,723$1,181,224$751,462$2,884,769
78$4,429,527$1,183,796$721,329$3,092,125
79$4,824,289$1,184,753$688,443$3,319,233
80$5,257,520$1,183,959$652,659$3,568,113
81$5,733,087$1,181,272$613,823$3,840,998
82$6,255,249$1,176,542$571,774$4,140,346
83$6,828,700$1,169,608$526,343$4,468,872
84$7,458,608$1,160,299$477,357$4,829,569
85$8,150,668$1,148,436$424,630$5,225,739
86$8,911,154$1,133,828$367,973$5,661,024
87$9,746,976$1,116,270$307,185$6,139,441
88$10,665,750$1,095,549$242,058$6,665,419
89$11,675,862$1,071,437$172,373$7,243,843
90$12,786,556$1,043,693$97,903$7,880,101
91$14,008,012$1,012,062$18,410$8,580,135
92$15,351,450$976,273$0$9,350,497
93$16,829,229$936,042$0$10,215,421
94$18,454,968$891,065$0$11,172,003
95$20,243,670$841,022$0$12,224,376
96$22,211,868$785,576$0$13,382,302
97$24,377,777$724,369$0$14,656,535
98$26,761,469$657,021$0$16,058,933
99$29,385,058$583,134$0$17,602,563
100$32,272,911$502,285$0$19,301,826