Can I retire at age 59 with 945,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$78,037$77,342$76,664$76,002$75,356$73,774
2 years$38,632$37,913$37,215$36,539$35,884$34,297
3 years$25,499$24,776$24,081$23,411$22,766$21,225
4 years$18,934$18,213$17,525$16,866$16,237$14,753
5 years$14,996$14,279$13,600$12,955$12,343$10,920
6 years$12,371$11,660$10,991$10,360$9,767$8,406
7 years$10,497$9,792$9,133$8,518$7,943$6,646
8 years$9,092$8,394$7,746$7,145$6,589$5,355
9 years$8,000$7,308$6,671$6,086$5,549$4,376
10 years$7,127$6,442$5,816$5,246$4,728$3,616
11 years$6,413$5,735$5,121$4,566$4,066$3,013
12 years$5,818$5,147$4,544$4,005$3,524$2,528
13 years$5,316$4,652$4,060$3,536$3,073$2,133
14 years$4,885$4,228$3,648$3,139$2,694$1,808
15 years$4,513$3,863$3,294$2,799$2,372$1,538
16 years$4,187$3,544$2,986$2,506$2,096$1,312
17 years$3,900$3,264$2,717$2,252$1,859$1,123
18 years$3,645$3,016$2,481$2,029$1,653$963
19 years$3,417$2,795$2,271$1,834$1,473$827
20 years$3,212$2,597$2,084$1,661$1,316$712
21 years$3,027$2,419$1,917$1,507$1,177$613
22 years$2,859$2,258$1,767$1,370$1,055$529
23 years$2,705$2,112$1,631$1,248$947$457
24 years$2,565$1,979$1,509$1,138$852$395
25 years$2,436$1,857$1,397$1,040$766$341
26 years$2,318$1,745$1,296$951$690$295
27 years$2,208$1,643$1,203$870$622$256
28 years$2,106$1,548$1,119$797$561$221
29 years$2,012$1,460$1,041$731$507$192
30 years$1,924$1,379$970$671$458$166
31 years$1,841$1,304$904$616$414$144
32 years$1,764$1,233$843$566$375$125
33 years$1,692$1,168$788$521$339$109
34 years$1,625$1,107$736$479$307$94
35 years$1,561$1,050$688$441$278$82
36 years$1,501$997$644$406$252$71
37 years$1,444$947$602$374$228$62
38 years$1,391$900$564$345$207$53
39 years$1,340$855$529$318$188$46
40 years$1,292$814$495$293$170$40
41 years$1,246$775$464$271$154$35
42 years$1,203$738$436$250$140$30
43 years$1,162$703$409$231$127$26
44 years$1,123$670$384$213$115$23
45 years$1,085$639$360$197$105$20
46 years$1,050$610$338$182$95$17
47 years$1,016$582$318$168$86$15
48 years$983$555$299$155$78$13
49 years$952$530$281$143$71$11
50 years$923$507$264$132$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $945,000, adding $6,828 every year, while hoping to spend $25,912 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: 47/25/28 Blend
58$945,000$945,000$945,000$945,000
59$1,048,433$998,348$983,701$1,089,016
60$1,127,803$1,019,697$989,084$1,139,689
61$1,214,400$1,041,223$993,780$1,191,606
62$1,308,935$1,062,909$997,737$1,247,464
63$1,412,188$1,084,733$1,000,903$1,307,646
64$1,525,019$1,106,673$1,003,222$1,372,577
65$1,648,376$1,128,706$1,004,635$1,442,724
66$1,783,302$1,150,803$1,005,081$1,518,602
67$1,930,944$1,172,938$1,004,496$1,600,780
68$2,092,566$1,195,077$1,002,813$1,689,885
69$2,269,560$1,217,189$999,960$1,786,608
70$2,463,460$1,239,236$995,864$1,891,713
71$2,675,954$1,261,180$990,446$2,006,041
72$2,908,900$1,282,976$983,625$2,130,521
73$3,164,347$1,304,581$975,315$2,266,176
74$3,444,550$1,325,945$965,427$2,414,136
75$3,751,993$1,347,015$953,868$2,575,646
76$4,089,412$1,367,735$940,538$2,752,082
77$4,459,821$1,388,043$925,336$2,944,957
78$4,866,541$1,407,875$908,152$3,155,944
79$5,313,228$1,427,161$888,876$3,386,887
80$5,803,912$1,445,826$867,387$3,639,817
81$6,343,031$1,463,792$843,565$3,916,978
82$6,935,474$1,480,971$817,278$4,220,843
83$7,586,628$1,497,275$788,393$4,554,138
84$8,302,428$1,512,605$756,768$4,919,871
85$9,089,411$1,526,858$722,255$5,321,359
86$9,954,780$1,539,924$684,700$5,762,258
87$10,906,472$1,551,684$643,942$6,246,603
88$11,953,231$1,562,015$599,812$6,778,839
89$13,104,689$1,570,782$552,134$7,363,872
90$14,371,461$1,577,844$500,724$8,007,107
91$15,765,241$1,583,050$445,390$8,714,508
92$17,298,916$1,586,240$385,931$9,492,647
93$18,986,683$1,587,243$322,137$10,348,775
94$20,844,185$1,585,878$253,789$11,290,881
95$22,888,659$1,581,954$180,659$12,327,778
96$25,139,099$1,575,266$102,507$13,469,180
97$27,616,431$1,565,598$19,085$14,725,797
98$30,343,714$1,552,720$0$16,109,439
99$33,346,359$1,536,389$0$17,654,018
100$36,652,362$1,516,347$0$19,360,433