Can I retire at age 59 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$77,707$77,015$76,339$75,680$75,037$73,104
2 years$38,469$37,752$37,058$36,385$35,732$33,798
3 years$25,391$24,672$23,979$23,312$22,670$20,794
4 years$18,854$18,136$17,451$16,795$16,168$14,366
5 years$14,932$14,219$13,542$12,900$12,291$10,567
6 years$12,319$11,611$10,944$10,316$9,725$8,082
7 years$10,453$9,751$9,095$8,482$7,909$6,346
8 years$9,054$8,358$7,713$7,115$6,562$5,077
9 years$7,966$7,277$6,643$6,060$5,526$4,120
10 years$7,097$6,415$5,792$5,224$4,708$3,379
11 years$6,386$5,711$5,099$4,547$4,049$2,794
12 years$5,794$5,125$4,525$3,988$3,509$2,326
13 years$5,293$4,632$4,043$3,521$3,060$1,947
14 years$4,865$4,210$3,633$3,125$2,682$1,636
15 years$4,493$3,846$3,280$2,787$2,362$1,381
16 years$4,169$3,529$2,974$2,496$2,087$1,168
17 years$3,883$3,250$2,706$2,242$1,851$991
18 years$3,629$3,003$2,470$2,021$1,646$842
19 years$3,402$2,783$2,261$1,826$1,467$717
20 years$3,198$2,586$2,075$1,654$1,310$611
21 years$3,014$2,409$1,909$1,501$1,172$522
22 years$2,847$2,249$1,759$1,365$1,051$446
23 years$2,694$2,103$1,624$1,243$943$381
24 years$2,554$1,971$1,502$1,134$848$327
25 years$2,426$1,849$1,391$1,035$763$280
26 years$2,308$1,738$1,290$947$687$240
27 years$2,199$1,636$1,198$866$620$206
28 years$2,097$1,541$1,114$794$559$176
29 years$2,003$1,454$1,037$728$505$151
30 years$1,915$1,373$966$668$456$130
31 years$1,834$1,298$900$614$412$111
32 years$1,757$1,228$840$564$373$96
33 years$1,685$1,163$784$519$338$82
34 years$1,618$1,102$733$477$306$71
35 years$1,554$1,046$685$439$277$61
36 years$1,495$992$641$404$251$52
37 years$1,438$943$600$373$227$45
38 years$1,385$896$562$344$206$39
39 years$1,334$852$526$317$187$33
40 years$1,286$810$493$292$170$28
41 years$1,241$771$463$270$154$24
42 years$1,198$735$434$249$140$21
43 years$1,157$700$407$230$127$18
44 years$1,118$667$382$212$115$16
45 years$1,081$636$359$196$104$13
46 years$1,045$607$337$181$95$11
47 years$1,012$579$317$167$86$10
48 years$979$553$298$154$78$8
49 years$948$528$280$143$71$7
50 years$919$504$263$132$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $941,000, adding $5,271 every year, while hoping to spend $49,325 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: 71/11/18 Blend
58$941,000$941,000$941,000$941,000
59$1,042,419$992,546$977,961$1,111,614
60$1,096,264$988,699$958,241$1,154,487
61$1,153,949$983,011$936,207$1,195,004
62$1,215,812$975,339$911,730$1,238,111
63$1,282,226$965,532$884,675$1,284,057
64$1,353,600$953,430$854,898$1,333,118
65$1,430,382$938,863$822,252$1,385,597
66$1,513,066$921,652$786,583$1,441,830
67$1,602,192$901,607$747,727$1,502,190
68$1,698,356$878,525$705,515$1,567,086
69$1,802,209$852,194$659,771$1,636,973
70$1,914,469$822,387$610,309$1,712,350
71$2,035,926$788,865$556,935$1,793,772
72$2,167,447$751,375$499,449$1,881,851
73$2,309,984$709,650$437,637$1,977,263
74$2,464,585$663,406$371,282$2,080,753
75$2,632,404$612,344$300,151$2,193,148
76$2,814,708$556,147$224,005$2,315,357
77$3,012,892$494,482$142,592$2,448,387
78$3,228,490$426,994$55,652$2,593,348
79$3,463,189$353,311$0$2,751,469
80$3,718,848$273,036$0$2,931,234
81$3,997,510$185,754$0$3,138,879
82$4,301,424$91,025$0$3,365,413
83$4,633,068$0$0$3,612,719
84$4,995,165$0$0$3,884,279
85$5,390,716$0$0$4,193,009
86$5,823,023$0$0$4,530,474
87$6,295,724$0$0$4,899,519
88$6,812,820$0$0$5,303,274
89$7,378,721$0$0$5,745,189
90$7,998,279$0$0$6,229,060
91$8,676,841$0$0$6,759,069
92$9,420,293$0$0$7,339,819
93$10,235,117$0$0$7,976,383
94$11,128,452$0$0$8,674,346
95$12,108,162$0$0$9,439,858
96$13,182,908$0$0$10,279,695
97$14,362,228$0$0$11,201,321
98$15,656,632$0$0$12,212,955
99$17,077,692$0$0$13,323,652
100$18,638,159$0$0$14,543,387