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%13.7%
1 years$77,955$77,260$76,583$75,922$75,276$74,120
2 years$38,591$37,873$37,176$36,501$35,846$34,684
3 years$25,472$24,750$24,055$23,386$22,742$21,611
4 years$18,914$18,194$17,506$16,849$16,220$15,128
5 years$14,980$14,264$13,586$12,941$12,330$11,280
6 years$12,358$11,648$10,979$10,349$9,756$8,750
7 years$10,486$9,782$9,124$8,509$7,934$6,972
8 years$9,082$8,385$7,738$7,138$6,582$5,663
9 years$7,992$7,301$6,664$6,080$5,543$4,667
10 years$7,119$6,435$5,810$5,241$4,723$3,889
11 years$6,406$5,729$5,115$4,561$4,062$3,270
12 years$5,812$5,142$4,540$4,001$3,520$2,768
13 years$5,310$4,647$4,056$3,532$3,070$2,357
14 years$4,880$4,224$3,644$3,135$2,691$2,017
15 years$4,508$3,858$3,290$2,796$2,369$1,732
16 years$4,182$3,540$2,983$2,504$2,094$1,493
17 years$3,895$3,260$2,714$2,250$1,857$1,290
18 years$3,641$3,013$2,478$2,027$1,651$1,118
19 years$3,413$2,792$2,268$1,832$1,471$970
20 years$3,208$2,595$2,082$1,659$1,314$844
21 years$3,023$2,417$1,915$1,506$1,176$735
22 years$2,856$2,256$1,765$1,369$1,054$640
23 years$2,703$2,110$1,630$1,247$946$559
24 years$2,562$1,977$1,507$1,137$851$488
25 years$2,434$1,855$1,396$1,039$765$427
26 years$2,315$1,744$1,295$950$689$374
27 years$2,206$1,641$1,202$869$622$327
28 years$2,104$1,546$1,118$796$561$287
29 years$2,010$1,459$1,040$730$506$251
30 years$1,922$1,378$969$670$458$220
31 years$1,839$1,302$903$616$414$193
32 years$1,763$1,232$843$566$374$170
33 years$1,691$1,167$787$520$339$149
34 years$1,623$1,106$735$479$307$131
35 years$1,559$1,049$687$441$278$115
36 years$1,499$996$643$406$252$101
37 years$1,443$946$602$374$228$89
38 years$1,389$899$564$345$207$78
39 years$1,339$855$528$318$188$68
40 years$1,291$813$495$293$170$60
41 years$1,245$774$464$270$154$53
42 years$1,202$737$435$250$140$46
43 years$1,161$702$408$230$127$41
44 years$1,122$669$383$213$115$36
45 years$1,084$638$360$196$105$32
46 years$1,049$609$338$181$95$28
47 years$1,015$581$318$168$86$24
48 years$982$555$298$155$78$21
49 years$951$530$281$143$71$19
50 years$922$506$264$132$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $944,000, adding $3,678 every year, while hoping to spend $41,991 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: 45/50/5 Blend
58$944,000$944,000$944,000$944,000
59$1,044,082$994,050$979,418$1,089,477
60$1,105,900$998,080$967,550$1,125,127
61$1,172,616$1,000,901$953,878$1,159,086
62$1,244,686$1,002,408$938,295$1,194,915
63$1,322,610$1,002,491$920,694$1,232,800
64$1,406,937$1,001,034$900,958$1,272,945
65$1,498,272$997,912$878,968$1,315,579
66$1,597,280$992,994$854,597$1,360,956
67$1,704,691$986,140$827,715$1,409,360
68$1,821,310$977,201$798,184$1,461,103
69$1,948,020$966,021$765,860$1,516,534
70$2,085,795$952,432$730,592$1,576,040
71$2,235,703$936,258$692,224$1,640,052
72$2,398,922$917,312$650,591$1,709,047
73$2,576,748$895,396$605,522$1,783,554
74$2,770,605$870,300$556,836$1,864,161
75$2,982,064$841,801$504,347$1,951,520
76$3,212,850$809,666$447,858$2,046,354
77$3,464,865$773,643$387,166$2,149,465
78$3,740,201$733,472$322,056$2,261,742
79$4,041,162$688,872$252,305$2,384,168
80$4,370,284$639,550$177,680$2,517,837
81$4,730,359$585,194$97,939$2,663,957
82$5,124,463$525,476$12,827$2,823,867
83$5,555,981$460,047$0$2,999,051
84$6,028,641$388,540$0$3,195,311
85$6,546,551$310,566$0$3,411,306
86$7,114,231$225,716$0$3,648,377
87$7,736,662$133,556$0$3,908,767
88$8,419,331$33,629$0$4,194,956
89$9,168,277$0$0$4,509,688
90$9,990,156$0$0$4,897,012
91$10,892,299$0$0$5,342,585
92$11,882,779$0$0$5,831,909
93$12,970,492$0$0$6,369,392
94$14,165,235$0$0$6,959,890
95$15,477,802$0$0$7,608,756
96$16,920,083$0$0$8,321,883
97$18,505,179$0$0$9,105,765
98$20,247,521$0$0$9,967,557
99$22,163,008$0$0$10,915,142
100$24,269,158$0$0$11,957,204