Can I retire at age 59 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$77,955$77,260$76,583$75,922$75,276$72,375
2 years$38,591$37,873$37,176$36,501$35,846$32,958
3 years$25,472$24,750$24,055$23,386$22,742$19,958
4 years$18,914$18,194$17,506$16,849$16,220$13,560
5 years$14,980$14,264$13,586$12,941$12,330$9,803
6 years$12,358$11,648$10,979$10,349$9,756$7,362
7 years$10,486$9,782$9,124$8,509$7,934$5,673
8 years$9,082$8,385$7,738$7,138$6,582$4,452
9 years$7,992$7,301$6,664$6,080$5,543$3,540
10 years$7,119$6,435$5,810$5,241$4,723$2,844
11 years$6,406$5,729$5,115$4,561$4,062$2,302
12 years$5,812$5,142$4,540$4,001$3,520$1,875
13 years$5,310$4,647$4,056$3,532$3,070$1,534
14 years$4,880$4,224$3,644$3,135$2,691$1,261
15 years$4,508$3,858$3,290$2,796$2,369$1,039
16 years$4,182$3,540$2,983$2,504$2,094$858
17 years$3,895$3,260$2,714$2,250$1,857$711
18 years$3,641$3,013$2,478$2,027$1,651$589
19 years$3,413$2,792$2,268$1,832$1,471$489
20 years$3,208$2,595$2,082$1,659$1,314$407
21 years$3,023$2,417$1,915$1,506$1,176$339
22 years$2,856$2,256$1,765$1,369$1,054$282
23 years$2,703$2,110$1,630$1,247$946$235
24 years$2,562$1,977$1,507$1,137$851$196
25 years$2,434$1,855$1,396$1,039$765$164
26 years$2,315$1,744$1,295$950$689$136
27 years$2,206$1,641$1,202$869$622$114
28 years$2,104$1,546$1,118$796$561$95
29 years$2,010$1,459$1,040$730$506$79
30 years$1,922$1,378$969$670$458$66
31 years$1,839$1,302$903$616$414$55
32 years$1,763$1,232$843$566$374$46
33 years$1,691$1,167$787$520$339$39
34 years$1,623$1,106$735$479$307$32
35 years$1,559$1,049$687$441$278$27
36 years$1,499$996$643$406$252$23
37 years$1,443$946$602$374$228$19
38 years$1,389$899$564$345$207$16
39 years$1,339$855$528$318$188$13
40 years$1,291$813$495$293$170$11
41 years$1,245$774$464$270$154$9
42 years$1,202$737$435$250$140$8
43 years$1,161$702$408$230$127$6
44 years$1,122$669$383$213$115$5
45 years$1,084$638$360$196$105$5
46 years$1,049$609$338$181$95$4
47 years$1,015$581$318$168$86$3
48 years$982$555$298$155$78$3
49 years$951$530$281$143$71$2
50 years$922$506$264$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $944,000, adding $3,381 every year, while hoping to spend $52,487 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: 35/36/29 Blend
58$944,000$944,000$944,000$944,000
59$1,043,776$993,744$979,112$1,071,096
60$1,094,395$986,591$956,066$1,084,753
61$1,148,418$977,329$930,489$1,094,537
62$1,206,137$965,799$902,241$1,104,093
63$1,267,872$951,832$871,175$1,113,437
64$1,333,973$935,250$837,138$1,122,590
65$1,404,825$915,864$799,968$1,131,582
66$1,480,850$893,473$759,500$1,140,450
67$1,562,510$867,867$715,557$1,149,240
68$1,650,314$838,821$667,956$1,158,008
69$1,744,819$806,096$616,505$1,166,822
70$1,846,639$769,443$561,006$1,175,765
71$1,956,445$728,594$501,249$1,184,932
72$2,074,977$683,270$437,015$1,194,438
73$2,203,047$633,173$368,078$1,204,415
74$2,341,547$577,988$294,198$1,215,018
75$2,491,459$517,383$215,128$1,226,425
76$2,653,861$451,008$130,607$1,238,841
77$2,829,938$378,491$40,366$1,252,505
78$3,020,995$299,440$0$1,267,684
79$3,228,465$213,441$0$1,301,998
80$3,453,926$120,057$0$1,352,942
81$3,699,113$18,826$0$1,408,508
82$3,965,935$0$0$1,469,247
83$4,256,493$0$0$1,571,719
84$4,573,097$0$0$1,691,628
85$4,918,292$0$0$1,822,495
86$5,294,877$0$0$1,965,397
87$5,705,934$0$0$2,121,521
88$6,154,854$0$0$2,292,173
89$6,645,372$0$0$2,478,791
90$7,181,599$0$0$2,682,957
91$7,768,060$0$0$2,906,415
92$8,409,739$0$0$3,151,084
93$9,112,124$0$0$3,419,079
94$9,881,257$0$0$3,712,726
95$10,723,792$0$0$4,034,590
96$11,647,057$0$0$4,387,493
97$12,659,122$0$0$4,774,546
98$13,768,875$0$0$5,199,174
99$14,986,107$0$0$5,665,149
100$16,321,600$0$0$6,176,626