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%20%
1 years$77,872$77,178$76,502$75,841$75,196$72,184
2 years$38,551$37,833$37,137$36,462$35,808$32,811
3 years$25,445$24,724$24,030$23,362$22,718$19,831
4 years$18,894$18,175$17,488$16,831$16,203$13,447
5 years$14,964$14,249$13,571$12,928$12,317$9,700
6 years$12,345$11,636$10,967$10,338$9,746$7,269
7 years$10,475$9,772$9,114$8,500$7,926$5,589
8 years$9,073$8,376$7,729$7,130$6,575$4,375
9 years$7,983$7,293$6,657$6,073$5,537$3,471
10 years$7,112$6,428$5,804$5,235$4,718$2,781
11 years$6,399$5,723$5,110$4,556$4,058$2,245
12 years$5,806$5,136$4,535$3,996$3,516$1,824
13 years$5,305$4,642$4,052$3,528$3,066$1,488
14 years$4,875$4,219$3,640$3,132$2,688$1,219
15 years$4,503$3,854$3,287$2,793$2,367$1,002
16 years$4,178$3,536$2,980$2,501$2,092$826
17 years$3,891$3,257$2,712$2,247$1,855$681
18 years$3,637$3,009$2,475$2,025$1,649$563
19 years$3,409$2,789$2,266$1,830$1,470$466
20 years$3,205$2,592$2,080$1,657$1,313$387
21 years$3,020$2,414$1,913$1,504$1,175$321
22 years$2,853$2,254$1,763$1,368$1,053$266
23 years$2,700$2,108$1,628$1,245$945$221
24 years$2,560$1,975$1,505$1,136$850$184
25 years$2,431$1,853$1,394$1,037$765$153
26 years$2,313$1,742$1,293$949$689$127
27 years$2,203$1,639$1,201$868$621$106
28 years$2,102$1,545$1,116$795$560$88
29 years$2,007$1,457$1,039$729$506$73
30 years$1,920$1,376$968$669$457$61
31 years$1,837$1,301$902$615$413$51
32 years$1,761$1,231$842$565$374$42
33 years$1,689$1,166$786$520$338$35
34 years$1,621$1,105$734$478$306$29
35 years$1,558$1,048$687$440$277$24
36 years$1,498$995$642$405$251$20
37 years$1,441$945$601$373$228$17
38 years$1,388$898$563$344$207$14
39 years$1,337$854$527$317$187$12
40 years$1,289$812$494$293$170$10
41 years$1,244$773$464$270$154$8
42 years$1,201$736$435$249$140$7
43 years$1,160$702$408$230$127$6
44 years$1,120$669$383$212$115$5
45 years$1,083$638$360$196$105$4
46 years$1,048$608$338$181$95$3
47 years$1,014$581$317$167$86$3
48 years$981$554$298$155$78$2
49 years$950$529$280$143$71$2
50 years$921$506$263$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $943,000, adding $6,027 every year, while hoping to spend $52,268 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: 72/6/22 Blend
58$943,000$943,000$943,000$943,000
59$1,045,403$995,424$980,807$1,114,602
60$1,096,421$988,587$958,052$1,154,656
61$1,150,892$979,663$932,782$1,191,714
62$1,209,111$968,495$904,858$1,231,007
63$1,271,405$954,916$874,136$1,272,750
64$1,338,130$938,749$840,461$1,317,179
65$1,409,678$919,806$803,676$1,364,558
66$1,486,479$897,890$763,612$1,415,177
67$1,569,002$872,789$720,096$1,469,358
68$1,657,767$844,283$672,946$1,527,455
69$1,753,341$812,134$621,971$1,589,861
70$1,856,347$776,094$566,972$1,657,011
71$1,967,471$735,899$507,742$1,729,384
72$2,087,466$691,271$444,064$1,807,512
73$2,217,158$641,914$375,712$1,891,980
74$2,357,458$587,517$302,447$1,983,437
75$2,509,364$527,751$224,024$2,082,599
76$2,673,974$462,266$140,185$2,190,257
77$2,852,498$390,695$50,659$2,307,286
78$3,046,263$312,650$0$2,434,651
79$3,256,731$227,718$0$2,583,955
80$3,485,508$135,467$0$2,759,216
81$3,734,363$35,439$0$2,949,904
82$4,005,242$0$0$3,157,532
83$4,300,284$0$0$3,388,574
84$4,621,846$0$0$3,642,976
85$4,972,519$0$0$3,920,452
86$5,355,157$0$0$4,223,267
87$5,772,900$0$0$4,553,911
88$6,229,207$0$0$4,915,126
89$6,727,882$0$0$5,309,933
90$7,273,115$0$0$5,741,653
91$7,869,520$0$0$6,213,948
92$8,522,178$0$0$6,730,846
93$9,236,680$0$0$7,296,784
94$10,019,186$0$0$7,916,649
95$10,876,479$0$0$8,595,821
96$11,816,030$0$0$9,340,226
97$12,846,064$0$0$10,156,392
98$13,975,643$0$0$11,051,505
99$15,214,746$0$0$12,033,483
100$16,574,366$0$0$13,111,047