Can I retire at age 59 with 938,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.8%
1 years$77,459$76,769$76,096$75,439$74,797$72,144
2 years$38,346$37,632$36,940$36,269$35,618$32,972
3 years$25,310$24,593$23,903$23,238$22,597$20,044
4 years$18,793$18,078$17,395$16,741$16,117$13,674
5 years$14,884$14,174$13,499$12,859$12,252$9,926
6 years$12,279$11,574$10,909$10,283$9,694$7,488
7 years$10,419$9,720$9,066$8,455$7,884$5,797
8 years$9,025$8,332$7,688$7,092$6,541$4,570
9 years$7,941$7,254$6,622$6,041$5,508$3,652
10 years$7,074$6,394$5,773$5,208$4,693$2,949
11 years$6,365$5,692$5,083$4,532$4,036$2,399
12 years$5,775$5,109$4,511$3,975$3,498$1,965
13 years$5,276$4,617$4,030$3,510$3,050$1,617
14 years$4,849$4,197$3,621$3,115$2,674$1,336
15 years$4,479$3,834$3,269$2,778$2,354$1,107
16 years$4,156$3,518$2,964$2,488$2,081$920
17 years$3,871$3,240$2,697$2,235$1,845$766
18 years$3,618$2,993$2,462$2,014$1,640$639
19 years$3,391$2,774$2,254$1,820$1,462$534
20 years$3,188$2,578$2,069$1,649$1,306$447
21 years$3,004$2,401$1,903$1,496$1,169$374
22 years$2,837$2,242$1,754$1,360$1,048$314
23 years$2,685$2,096$1,619$1,239$940$263
24 years$2,546$1,964$1,497$1,130$845$221
25 years$2,418$1,843$1,387$1,032$761$185
26 years$2,300$1,732$1,286$944$685$156
27 years$2,192$1,630$1,194$864$618$131
28 years$2,091$1,536$1,110$791$557$110
29 years$1,997$1,449$1,033$726$503$92
30 years$1,909$1,369$963$666$455$78
31 years$1,828$1,294$897$612$411$65
32 years$1,751$1,224$837$562$372$55
33 years$1,680$1,159$782$517$337$46
34 years$1,613$1,099$730$476$305$39
35 years$1,549$1,042$683$438$276$33
36 years$1,490$989$639$403$250$28
37 years$1,434$940$598$371$227$23
38 years$1,380$893$560$342$205$19
39 years$1,330$849$525$316$186$16
40 years$1,282$808$492$291$169$14
41 years$1,237$769$461$269$153$12
42 years$1,194$732$432$248$139$10
43 years$1,153$698$406$229$126$8
44 years$1,114$665$381$211$115$7
45 years$1,077$634$358$195$104$6
46 years$1,042$605$336$180$94$5
47 years$1,008$577$316$167$86$4
48 years$976$551$297$154$78$3
49 years$945$526$279$142$71$3
50 years$916$503$262$131$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $938,000, adding $4,163 every year, while hoping to spend $50,608 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: 54/29/17 Blend
58$938,000$938,000$938,000$938,000
59$1,037,970$988,256$973,717$1,089,068
60$1,089,997$982,834$952,490$1,119,009
61$1,145,634$975,450$928,856$1,145,846
62$1,205,196$965,955$902,680$1,173,934
63$1,269,029$954,190$873,823$1,203,406
64$1,337,511$939,987$842,138$1,234,410
65$1,411,059$923,167$807,470$1,267,113
66$1,490,127$903,543$769,661$1,301,701
67$1,575,218$880,914$728,542$1,338,381
68$1,666,880$855,069$683,939$1,377,387
69$1,765,718$825,784$635,667$1,418,976
70$1,872,395$792,821$583,536$1,463,439
71$1,987,641$755,930$527,345$1,511,098
72$2,112,255$714,846$466,887$1,562,312
73$2,247,120$669,288$401,942$1,617,482
74$2,393,202$618,959$332,283$1,677,054
75$2,551,566$563,546$257,672$1,741,523
76$2,723,382$502,716$177,860$1,811,443
77$2,909,938$436,120$92,589$1,887,426
78$3,112,649$363,387$1,588$1,970,156
79$3,333,071$284,125$0$2,060,391
80$3,572,920$197,922$0$2,176,299
81$3,834,079$104,342$0$2,302,924
82$4,118,622$2,922$0$2,441,070
83$4,428,834$0$0$2,591,947
84$4,767,226$0$0$2,790,983
85$5,136,563$0$0$3,009,323
86$5,539,889$0$0$3,247,843
87$5,980,556$0$0$3,508,537
88$6,462,252$0$0$3,793,598
89$6,989,040$0$0$4,105,441
90$7,565,390$0$0$4,446,727
91$8,196,226$0$0$4,820,384
92$8,886,972$0$0$5,229,637
93$9,643,599$0$0$5,678,037
94$10,472,681$0$0$6,169,496
95$11,381,460$0$0$6,708,321
96$12,377,913$0$0$7,299,257
97$13,470,824$0$0$7,947,528
98$14,669,867$0$0$8,658,892
99$15,985,702$0$0$9,439,687
100$17,430,066$0$0$10,296,897