Can I retire at age 59 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$77,459$76,769$76,096$75,439$74,797$73,741
2 years$38,346$37,632$36,940$36,269$35,618$34,555
3 years$25,310$24,593$23,903$23,238$22,597$21,562
4 years$18,793$18,078$17,395$16,741$16,117$15,116
5 years$14,884$14,174$13,499$12,859$12,252$11,289
6 years$12,279$11,574$10,909$10,283$9,694$8,771
7 years$10,419$9,720$9,066$8,455$7,884$7,000
8 years$9,025$8,332$7,688$7,092$6,541$5,696
9 years$7,941$7,254$6,622$6,041$5,508$4,703
10 years$7,074$6,394$5,773$5,208$4,693$3,926
11 years$6,365$5,692$5,083$4,532$4,036$3,307
12 years$5,775$5,109$4,511$3,975$3,498$2,805
13 years$5,276$4,617$4,030$3,510$3,050$2,394
14 years$4,849$4,197$3,621$3,115$2,674$2,052
15 years$4,479$3,834$3,269$2,778$2,354$1,766
16 years$4,156$3,518$2,964$2,488$2,081$1,525
17 years$3,871$3,240$2,697$2,235$1,845$1,321
18 years$3,618$2,993$2,462$2,014$1,640$1,147
19 years$3,391$2,774$2,254$1,820$1,462$998
20 years$3,188$2,578$2,069$1,649$1,306$869
21 years$3,004$2,401$1,903$1,496$1,169$759
22 years$2,837$2,242$1,754$1,360$1,048$663
23 years$2,685$2,096$1,619$1,239$940$580
24 years$2,546$1,964$1,497$1,130$845$508
25 years$2,418$1,843$1,387$1,032$761$445
26 years$2,300$1,732$1,286$944$685$391
27 years$2,192$1,630$1,194$864$618$343
28 years$2,091$1,536$1,110$791$557$301
29 years$1,997$1,449$1,033$726$503$265
30 years$1,909$1,369$963$666$455$233
31 years$1,828$1,294$897$612$411$205
32 years$1,751$1,224$837$562$372$180
33 years$1,680$1,159$782$517$337$158
34 years$1,613$1,099$730$476$305$139
35 years$1,549$1,042$683$438$276$123
36 years$1,490$989$639$403$250$108
37 years$1,434$940$598$371$227$95
38 years$1,380$893$560$342$205$84
39 years$1,330$849$525$316$186$74
40 years$1,282$808$492$291$169$65
41 years$1,237$769$461$269$153$57
42 years$1,194$732$432$248$139$50
43 years$1,153$698$406$229$126$45
44 years$1,114$665$381$211$115$39
45 years$1,077$634$358$195$104$35
46 years$1,042$605$336$180$94$30
47 years$1,008$577$316$167$86$27
48 years$976$551$297$154$78$24
49 years$945$526$279$142$71$21
50 years$916$503$262$131$64$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $938,000, adding $6,712 every year, while hoping to spend $21,791 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: 79/16/5 Blend
58$938,000$938,000$938,000$938,000
59$1,040,599$990,885$976,346$1,122,064
60$1,123,555$1,016,253$985,869$1,201,746
61$1,214,242$1,042,134$994,979$1,285,577
62$1,313,425$1,068,529$1,003,642$1,376,870
63$1,421,949$1,095,441$1,011,818$1,476,357
64$1,540,740$1,122,870$1,019,466$1,584,845
65$1,670,820$1,150,816$1,026,543$1,703,222
66$1,813,317$1,179,279$1,033,005$1,832,464
67$1,969,468$1,208,256$1,038,804$1,973,649
68$2,140,639$1,237,746$1,043,889$2,127,961
69$2,328,334$1,267,745$1,048,209$2,296,707
70$2,534,208$1,298,248$1,051,708$2,481,324
71$2,760,085$1,329,251$1,054,328$2,683,397
72$3,007,974$1,360,745$1,056,009$2,904,670
73$3,280,089$1,392,722$1,056,686$3,147,065
74$3,578,866$1,425,174$1,056,293$3,412,699
75$3,906,991$1,458,088$1,054,760$3,703,904
76$4,267,422$1,491,452$1,052,012$4,023,251
77$4,663,417$1,525,251$1,047,972$4,373,568
78$5,098,566$1,559,469$1,042,560$4,757,976
79$5,576,824$1,594,087$1,035,690$5,179,908
80$6,102,548$1,629,086$1,027,274$5,643,150
81$6,680,537$1,664,440$1,017,217$6,151,873
82$7,316,081$1,700,127$1,005,423$6,710,671
83$8,015,005$1,736,117$991,788$7,324,607
84$8,783,729$1,772,381$976,207$7,999,258
85$9,629,326$1,808,883$958,566$8,740,771
86$10,559,588$1,845,589$938,748$9,555,918
87$11,583,100$1,882,457$916,631$10,452,160
88$12,709,324$1,919,445$892,085$11,437,719
89$13,948,681$1,956,504$864,977$12,521,655
90$15,312,658$1,993,585$835,165$13,713,951
91$16,813,909$2,030,630$802,503$15,025,607
92$18,466,377$2,067,580$766,836$16,468,743
93$20,285,427$2,104,371$728,004$18,056,717
94$22,287,987$2,140,932$685,839$19,804,247
95$24,492,712$2,177,188$640,165$21,727,550
96$26,920,156$2,213,058$590,798$23,844,499
97$29,592,970$2,248,455$537,547$26,174,787
98$32,536,109$2,283,285$480,211$28,740,115
99$35,777,075$2,317,449$418,581$31,564,399
100$39,346,172$2,350,839$352,439$34,673,990