Can I retire at age 59 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$77,789$77,097$76,421$75,761$75,116$73,933
2 years$38,510$37,792$37,097$36,423$35,770$34,580
3 years$25,418$24,698$24,004$23,337$22,694$21,536
4 years$18,874$18,155$17,469$16,813$16,185$15,067
5 years$14,948$14,234$13,557$12,914$12,304$11,229
6 years$12,332$11,623$10,956$10,327$9,736$8,706
7 years$10,464$9,761$9,104$8,491$7,918$6,933
8 years$9,063$8,367$7,721$7,123$6,568$5,628
9 years$7,975$7,285$6,650$6,067$5,532$4,636
10 years$7,104$6,421$5,798$5,230$4,713$3,861
11 years$6,393$5,717$5,104$4,551$4,054$3,244
12 years$5,800$5,131$4,530$3,992$3,513$2,745
13 years$5,299$4,637$4,047$3,525$3,063$2,336
14 years$4,870$4,215$3,636$3,129$2,685$1,997
15 years$4,498$3,850$3,283$2,790$2,364$1,714
16 years$4,173$3,533$2,977$2,498$2,089$1,476
17 years$3,887$3,253$2,709$2,245$1,853$1,275
18 years$3,633$3,006$2,473$2,023$1,647$1,103
19 years$3,406$2,786$2,264$1,828$1,468$957
20 years$3,202$2,589$2,077$1,656$1,312$832
21 years$3,017$2,412$1,911$1,503$1,174$724
22 years$2,850$2,251$1,761$1,366$1,052$630
23 years$2,697$2,105$1,626$1,244$944$550
24 years$2,557$1,973$1,504$1,135$849$480
25 years$2,429$1,851$1,393$1,036$764$419
26 years$2,310$1,740$1,292$948$688$367
27 years$2,201$1,637$1,200$867$620$321
28 years$2,100$1,543$1,115$795$560$281
29 years$2,005$1,456$1,038$729$505$246
30 years$1,918$1,375$967$669$457$216
31 years$1,836$1,299$901$614$413$189
32 years$1,759$1,230$841$564$373$166
33 years$1,687$1,164$785$519$338$145
34 years$1,619$1,104$734$478$306$127
35 years$1,556$1,047$686$440$277$112
36 years$1,496$994$642$405$251$98
37 years$1,440$944$600$373$228$86
38 years$1,386$897$562$344$206$76
39 years$1,336$853$527$317$187$66
40 years$1,288$811$494$292$170$58
41 years$1,242$772$463$270$154$51
42 years$1,199$736$434$249$140$45
43 years$1,158$701$408$230$127$39
44 years$1,119$668$383$212$115$35
45 years$1,082$637$359$196$104$30
46 years$1,047$608$337$181$95$27
47 years$1,013$580$317$167$86$23
48 years$980$554$298$155$78$21
49 years$949$529$280$143$71$18
50 years$920$505$263$132$65$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $942,000, adding $6,295 every year, while hoping to spend $23,311 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: 60/29/11 Blend
58$942,000$942,000$942,000$942,000
59$1,044,577$994,651$980,050$1,104,161
60$1,126,321$1,018,586$988,079$1,168,879
61$1,215,622$1,042,913$995,596$1,236,242
62$1,313,226$1,067,626$1,002,558$1,309,151
63$1,419,954$1,092,719$1,008,923$1,388,142
64$1,536,710$1,118,183$1,014,643$1,473,806
65$1,664,492$1,144,011$1,019,671$1,566,793
66$1,804,394$1,170,192$1,023,954$1,667,821
67$1,957,626$1,196,715$1,027,440$1,777,677
68$2,125,516$1,223,567$1,030,072$1,897,231
69$2,309,531$1,250,733$1,031,791$2,027,440
70$2,511,281$1,278,197$1,032,534$2,169,358
71$2,732,545$1,305,942$1,032,238$2,324,149
72$2,975,279$1,333,948$1,030,832$2,493,091
73$3,241,638$1,362,192$1,028,245$2,677,596
74$3,533,997$1,390,651$1,024,403$2,879,216
75$3,854,970$1,419,298$1,019,226$3,099,665
76$4,207,438$1,448,105$1,012,631$3,340,829
77$4,594,575$1,477,040$1,004,533$3,604,787
78$5,019,876$1,506,069$994,839$3,893,830
79$5,487,192$1,535,156$983,455$4,210,482
80$6,000,766$1,564,259$970,281$4,557,524
81$6,565,272$1,593,335$955,213$4,938,023
82$7,185,859$1,622,338$938,142$5,355,356
83$7,868,201$1,651,216$918,954$5,813,245
84$8,618,546$1,679,915$897,528$6,315,795
85$9,443,782$1,708,375$873,739$6,867,525
86$10,351,496$1,736,534$847,458$7,473,417
87$11,350,047$1,764,322$818,546$8,138,964
88$12,448,645$1,791,667$786,860$8,870,216
89$13,657,438$1,818,490$752,251$9,673,843
90$14,987,607$1,844,707$714,562$10,557,193
91$16,451,473$1,870,227$673,630$11,528,368
92$18,062,610$1,894,954$629,283$12,596,294
93$19,835,975$1,918,786$581,342$13,770,809
94$21,788,048$1,941,611$529,622$15,062,756
95$23,936,991$1,963,311$473,926$16,484,084
96$26,302,812$1,983,762$414,051$18,047,963
97$28,907,562$2,002,829$349,784$19,768,906
98$31,775,534$2,020,368$280,902$21,662,908
99$34,933,500$2,036,228$207,175$23,747,600
100$38,410,960$2,050,246$128,358$26,042,408