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%14.8%
1 years$77,459$76,769$76,096$75,439$74,797$73,317
2 years$38,346$37,632$36,940$36,269$35,618$34,133
3 years$25,310$24,593$23,903$23,238$22,597$21,154
4 years$18,793$18,078$17,395$16,741$16,117$14,726
5 years$14,884$14,174$13,499$12,859$12,252$10,917
6 years$12,279$11,574$10,909$10,283$9,694$8,418
7 years$10,419$9,720$9,066$8,455$7,884$6,666
8 years$9,025$8,332$7,688$7,092$6,541$5,380
9 years$7,941$7,254$6,622$6,041$5,508$4,405
10 years$7,074$6,394$5,773$5,208$4,693$3,646
11 years$6,365$5,692$5,083$4,532$4,036$3,044
12 years$5,775$5,109$4,511$3,975$3,498$2,559
13 years$5,276$4,617$4,030$3,510$3,050$2,164
14 years$4,849$4,197$3,621$3,115$2,674$1,837
15 years$4,479$3,834$3,269$2,778$2,354$1,566
16 years$4,156$3,518$2,964$2,488$2,081$1,340
17 years$3,871$3,240$2,697$2,235$1,845$1,149
18 years$3,618$2,993$2,462$2,014$1,640$987
19 years$3,391$2,774$2,254$1,820$1,462$850
20 years$3,188$2,578$2,069$1,649$1,306$733
21 years$3,004$2,401$1,903$1,496$1,169$633
22 years$2,837$2,242$1,754$1,360$1,048$547
23 years$2,685$2,096$1,619$1,239$940$474
24 years$2,546$1,964$1,497$1,130$845$410
25 years$2,418$1,843$1,387$1,032$761$356
26 years$2,300$1,732$1,286$944$685$308
27 years$2,192$1,630$1,194$864$618$268
28 years$2,091$1,536$1,110$791$557$232
29 years$1,997$1,449$1,033$726$503$202
30 years$1,909$1,369$963$666$455$175
31 years$1,828$1,294$897$612$411$153
32 years$1,751$1,224$837$562$372$133
33 years$1,680$1,159$782$517$337$115
34 years$1,613$1,099$730$476$305$100
35 years$1,549$1,042$683$438$276$87
36 years$1,490$989$639$403$250$76
37 years$1,434$940$598$371$227$66
38 years$1,380$893$560$342$205$58
39 years$1,330$849$525$316$186$50
40 years$1,282$808$492$291$169$44
41 years$1,237$769$461$269$153$38
42 years$1,194$732$432$248$139$33
43 years$1,153$698$406$229$126$29
44 years$1,114$665$381$211$115$25
45 years$1,077$634$358$195$104$22
46 years$1,042$605$336$180$94$19
47 years$1,008$577$316$167$86$17
48 years$976$551$297$154$78$14
49 years$945$526$279$142$71$13
50 years$916$503$262$131$64$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $938,000, adding $5,574 every year, while hoping to spend $56,217 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: 35/42/23 Blend
58$938,000$938,000$938,000$938,000
59$1,039,426$989,712$975,173$1,068,389
60$1,085,633$978,393$948,026$1,078,967
61$1,134,668$964,636$918,087$1,084,822
62$1,186,763$948,261$885,200$1,090,008
63$1,242,165$929,079$849,208$1,094,498
64$1,301,152$906,889$809,942$1,098,271
65$1,364,021$881,479$767,227$1,101,308
66$1,431,104$852,623$720,881$1,103,592
67$1,502,759$820,084$670,713$1,105,114
68$1,579,382$783,610$616,524$1,105,866
69$1,661,405$742,934$558,104$1,105,849
70$1,749,305$697,773$495,236$1,105,071
71$1,843,601$647,831$427,694$1,103,546
72$1,944,864$592,791$355,238$1,101,301
73$2,053,723$532,321$277,621$1,098,371
74$2,170,866$466,068$194,585$1,094,805
75$2,297,049$393,659$105,858$1,090,668
76$2,433,102$314,703$11,158$1,086,038
77$2,579,938$228,783$0$1,081,016
78$2,738,559$135,461$0$1,097,784
79$2,910,067$34,273$0$1,118,781
80$3,095,672$0$0$1,141,517
81$3,296,705$0$0$1,201,063
82$3,514,629$0$0$1,282,897
83$3,751,054$0$0$1,371,796
84$4,007,750$0$0$1,468,441
85$4,286,662$0$0$1,573,581
86$4,589,932$0$0$1,688,039
87$4,919,915$0$0$1,812,721
88$5,279,204$0$0$1,948,625
89$5,670,650$0$0$2,096,848
90$6,097,392$0$0$2,258,597
91$6,562,884$0$0$2,435,202
92$7,070,929$0$0$2,628,128
93$7,625,711$0$0$2,838,985
94$8,231,838$0$0$3,069,547
95$8,894,381$0$0$3,321,767
96$9,618,924$0$0$3,597,797
97$10,411,617$0$0$3,900,003
98$11,279,229$0$0$4,230,995
99$12,229,214$0$0$4,593,643
100$13,269,782$0$0$4,991,110