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%17.2%
1 years$77,789$77,097$76,421$75,761$75,116$72,916
2 years$38,510$37,792$37,097$36,423$35,770$33,571
3 years$25,418$24,698$24,004$23,337$22,694$20,565
4 years$18,874$18,155$17,469$16,813$16,185$14,144
5 years$14,948$14,234$13,557$12,914$12,304$10,354
6 years$12,332$11,623$10,956$10,327$9,736$7,880
7 years$10,464$9,761$9,104$8,491$7,918$6,156
8 years$9,063$8,367$7,721$7,123$6,568$4,900
9 years$7,975$7,285$6,650$6,067$5,532$3,954
10 years$7,104$6,421$5,798$5,230$4,713$3,224
11 years$6,393$5,717$5,104$4,551$4,054$2,651
12 years$5,800$5,131$4,530$3,992$3,513$2,194
13 years$5,299$4,637$4,047$3,525$3,063$1,825
14 years$4,870$4,215$3,636$3,129$2,685$1,525
15 years$4,498$3,850$3,283$2,790$2,364$1,278
16 years$4,173$3,533$2,977$2,498$2,089$1,075
17 years$3,887$3,253$2,709$2,245$1,853$905
18 years$3,633$3,006$2,473$2,023$1,647$764
19 years$3,406$2,786$2,264$1,828$1,468$646
20 years$3,202$2,589$2,077$1,656$1,312$547
21 years$3,017$2,412$1,911$1,503$1,174$464
22 years$2,850$2,251$1,761$1,366$1,052$394
23 years$2,697$2,105$1,626$1,244$944$335
24 years$2,557$1,973$1,504$1,135$849$284
25 years$2,429$1,851$1,393$1,036$764$242
26 years$2,310$1,740$1,292$948$688$206
27 years$2,201$1,637$1,200$867$620$175
28 years$2,100$1,543$1,115$795$560$149
29 years$2,005$1,456$1,038$729$505$127
30 years$1,918$1,375$967$669$457$108
31 years$1,836$1,299$901$614$413$92
32 years$1,759$1,230$841$564$373$79
33 years$1,687$1,164$785$519$338$67
34 years$1,619$1,104$734$478$306$57
35 years$1,556$1,047$686$440$277$49
36 years$1,496$994$642$405$251$42
37 years$1,440$944$600$373$228$35
38 years$1,386$897$562$344$206$30
39 years$1,336$853$527$317$187$26
40 years$1,288$811$494$292$170$22
41 years$1,242$772$463$270$154$19
42 years$1,199$736$434$249$140$16
43 years$1,158$701$408$230$127$14
44 years$1,119$668$383$212$115$12
45 years$1,082$637$359$196$104$10
46 years$1,047$608$337$181$95$8
47 years$1,013$580$317$167$86$7
48 years$980$554$298$155$78$6
49 years$949$529$280$143$71$5
50 years$920$505$263$132$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $942,000, adding $6,576 every year, while hoping to spend $21,903 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: 27/46/27 Blend
58$942,000$942,000$942,000$942,000
59$1,044,867$994,941$980,340$1,064,147
60$1,128,139$1,020,389$989,877$1,105,643
61$1,219,170$1,046,349$998,999$1,147,844
62$1,318,730$1,072,824$1,007,670$1,192,707
63$1,427,663$1,099,815$1,015,850$1,240,472
64$1,546,902$1,127,324$1,023,498$1,291,406
65$1,677,473$1,155,349$1,030,571$1,345,802
66$1,820,504$1,183,890$1,037,024$1,403,983
67$1,977,240$1,212,945$1,042,810$1,466,305
68$2,149,051$1,242,512$1,047,876$1,533,161
69$2,337,446$1,272,587$1,052,172$1,604,983
70$2,544,087$1,303,166$1,055,641$1,682,248
71$2,770,805$1,334,241$1,058,226$1,765,481
72$3,019,614$1,365,807$1,059,864$1,855,261
73$3,292,738$1,397,854$1,060,492$1,952,229
74$3,592,621$1,430,373$1,060,043$2,057,088
75$3,921,959$1,463,352$1,058,445$2,170,614
76$4,283,721$1,496,779$1,055,625$2,293,664
77$4,681,177$1,530,637$1,051,505$2,427,183
78$5,117,930$1,564,910$1,046,003$2,572,210
79$5,597,948$1,599,581$1,039,033$2,729,896
80$6,125,605$1,634,626$1,030,507$2,901,505
81$6,705,718$1,670,024$1,020,330$3,088,434
82$7,343,594$1,705,749$1,008,404$3,292,221
83$8,045,082$1,741,771$994,627$3,514,565
84$8,816,623$1,778,061$978,889$3,757,338
85$9,665,315$1,814,583$961,080$4,022,603
86$10,598,981$1,851,301$941,079$4,312,637
87$11,626,236$1,888,174$918,765$4,629,950
88$12,756,576$1,925,158$894,006$4,977,309
89$14,000,460$1,962,204$866,670$5,357,766
90$15,369,416$1,999,261$836,612$5,774,686
91$16,876,145$2,036,273$803,687$6,231,780
92$18,534,640$2,073,179$767,738$6,733,139
93$20,360,320$2,109,912$728,605$7,283,275
94$22,370,178$2,146,402$686,118$7,887,161
95$24,582,933$2,182,573$640,100$8,550,281
96$27,019,216$2,218,343$590,367$9,278,684
97$29,701,758$2,253,624$536,727$10,079,037
98$32,655,607$2,288,321$478,976$10,958,689
99$35,908,362$2,322,332$416,905$11,925,746
100$39,490,438$2,355,549$350,295$12,989,144