Can I retire at age 59 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$77,872$77,178$76,502$75,841$75,196$74,691
2 years$38,551$37,833$37,137$36,462$35,808$35,298
3 years$25,445$24,724$24,030$23,362$22,718$22,220
4 years$18,894$18,175$17,488$16,831$16,203$15,720
5 years$14,964$14,249$13,571$12,928$12,317$11,851
6 years$12,345$11,636$10,967$10,338$9,746$9,297
7 years$10,475$9,772$9,114$8,500$7,926$7,495
8 years$9,073$8,376$7,729$7,130$6,575$6,162
9 years$7,983$7,293$6,657$6,073$5,537$5,141
10 years$7,112$6,428$5,804$5,235$4,718$4,339
11 years$6,399$5,723$5,110$4,556$4,058$3,696
12 years$5,806$5,136$4,535$3,996$3,516$3,171
13 years$5,305$4,642$4,052$3,528$3,066$2,737
14 years$4,875$4,219$3,640$3,132$2,688$2,375
15 years$4,503$3,854$3,287$2,793$2,367$2,069
16 years$4,178$3,536$2,980$2,501$2,092$1,809
17 years$3,891$3,257$2,712$2,247$1,855$1,587
18 years$3,637$3,009$2,475$2,025$1,649$1,395
19 years$3,409$2,789$2,266$1,830$1,470$1,230
20 years$3,205$2,592$2,080$1,657$1,313$1,086
21 years$3,020$2,414$1,913$1,504$1,175$960
22 years$2,853$2,254$1,763$1,368$1,053$851
23 years$2,700$2,108$1,628$1,245$945$755
24 years$2,560$1,975$1,505$1,136$850$670
25 years$2,431$1,853$1,394$1,037$765$596
26 years$2,313$1,742$1,293$949$689$530
27 years$2,203$1,639$1,201$868$621$472
28 years$2,102$1,545$1,116$795$560$420
29 years$2,007$1,457$1,039$729$506$375
30 years$1,920$1,376$968$669$457$334
31 years$1,837$1,301$902$615$413$298
32 years$1,761$1,231$842$565$374$266
33 years$1,689$1,166$786$520$338$238
34 years$1,621$1,105$734$478$306$213
35 years$1,558$1,048$687$440$277$190
36 years$1,498$995$642$405$251$170
37 years$1,441$945$601$373$228$152
38 years$1,388$898$563$344$207$136
39 years$1,337$854$527$317$187$122
40 years$1,289$812$494$293$170$109
41 years$1,244$773$464$270$154$97
42 years$1,201$736$435$249$140$87
43 years$1,160$702$408$230$127$78
44 years$1,120$669$383$212$115$70
45 years$1,083$638$360$196$105$63
46 years$1,048$608$338$181$95$56
47 years$1,014$581$317$167$86$50
48 years$981$554$298$155$78$45
49 years$950$529$280$143$71$40
50 years$921$506$263$132$65$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $943,000, adding $6,149 every year, while hoping to spend $42,015 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: 80/12/8 Blend
58$943,000$943,000$943,000$943,000
59$1,045,529$995,550$980,933$1,127,590
60$1,107,469$999,628$969,091$1,186,333
61$1,174,319$1,002,498$955,444$1,244,628
62$1,246,535$1,004,056$939,887$1,307,334
63$1,324,619$1,004,192$922,310$1,374,872
64$1,409,122$1,002,790$902,600$1,447,703
65$1,500,651$999,724$880,634$1,526,336
66$1,599,870$994,864$856,289$1,611,332
67$1,707,514$988,069$829,432$1,703,308
68$1,824,388$979,193$799,926$1,802,945
69$1,951,379$968,076$767,626$1,910,993
70$2,089,461$954,553$732,383$2,028,277
71$2,239,707$938,447$694,039$2,155,710
72$2,403,298$919,572$652,430$2,294,294
73$2,581,532$897,728$607,384$2,445,135
74$2,775,838$872,707$558,721$2,609,452
75$2,987,790$844,286$506,254$2,788,589
76$3,219,118$812,229$449,788$2,984,026
77$3,471,729$776,290$389,116$3,197,396
78$3,747,721$736,203$324,027$3,430,498
79$4,049,402$691,691$254,296$3,685,314
80$4,379,317$642,460$179,691$3,964,030
81$4,740,265$588,198$99,968$4,269,056
82$5,135,328$528,576$14,873$4,603,046
83$5,567,902$463,247$0$4,968,930
84$6,041,725$391,843$0$5,376,414
85$6,560,914$313,975$0$5,824,351
86$7,130,002$229,235$0$6,315,415
87$7,753,983$137,189$0$6,853,953
88$8,438,357$37,379$0$7,444,758
89$9,189,181$0$0$8,093,107
90$10,013,128$0$0$8,814,153
91$10,917,547$0$0$9,611,067
92$11,910,534$0$0$10,486,048
93$13,001,007$0$0$11,446,958
94$14,198,789$0$0$12,502,459
95$15,514,702$0$0$13,662,090
96$16,960,670$0$0$14,936,361
97$18,549,825$0$0$16,336,851
98$20,296,638$0$0$17,876,316
99$22,217,050$0$0$19,568,810
100$24,328,624$0$0$21,429,814