Can I retire at age 59 with 945,000?

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 $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 years$78,037$77,342$76,664$76,002$75,356$73,804
2 years$38,632$37,913$37,215$36,539$35,884$34,327
3 years$25,499$24,776$24,081$23,411$22,766$21,254
4 years$18,934$18,213$17,525$16,866$16,237$14,780
5 years$14,996$14,279$13,600$12,955$12,343$10,946
6 years$12,371$11,660$10,991$10,360$9,767$8,431
7 years$10,497$9,792$9,133$8,518$7,943$6,669
8 years$9,092$8,394$7,746$7,145$6,589$5,377
9 years$8,000$7,308$6,671$6,086$5,549$4,397
10 years$7,127$6,442$5,816$5,246$4,728$3,635
11 years$6,413$5,735$5,121$4,566$4,066$3,031
12 years$5,818$5,147$4,544$4,005$3,524$2,545
13 years$5,316$4,652$4,060$3,536$3,073$2,148
14 years$4,885$4,228$3,648$3,139$2,694$1,822
15 years$4,513$3,863$3,294$2,799$2,372$1,551
16 years$4,187$3,544$2,986$2,506$2,096$1,325
17 years$3,900$3,264$2,717$2,252$1,859$1,134
18 years$3,645$3,016$2,481$2,029$1,653$973
19 years$3,417$2,795$2,271$1,834$1,473$837
20 years$3,212$2,597$2,084$1,661$1,316$720
21 years$3,027$2,419$1,917$1,507$1,177$621
22 years$2,859$2,258$1,767$1,370$1,055$536
23 years$2,705$2,112$1,631$1,248$947$463
24 years$2,565$1,979$1,509$1,138$852$401
25 years$2,436$1,857$1,397$1,040$766$347
26 years$2,318$1,745$1,296$951$690$300
27 years$2,208$1,643$1,203$870$622$260
28 years$2,106$1,548$1,119$797$561$226
29 years$2,012$1,460$1,041$731$507$196
30 years$1,924$1,379$970$671$458$170
31 years$1,841$1,304$904$616$414$147
32 years$1,764$1,233$843$566$375$128
33 years$1,692$1,168$788$521$339$111
34 years$1,625$1,107$736$479$307$96
35 years$1,561$1,050$688$441$278$84
36 years$1,501$997$644$406$252$73
37 years$1,444$947$602$374$228$63
38 years$1,391$900$564$345$207$55
39 years$1,340$855$529$318$188$48
40 years$1,292$814$495$293$170$41
41 years$1,246$775$464$271$154$36
42 years$1,203$738$436$250$140$31
43 years$1,162$703$409$231$127$27
44 years$1,123$670$384$213$115$24
45 years$1,085$639$360$197$105$21
46 years$1,050$610$338$182$95$18
47 years$1,016$582$318$168$86$16
48 years$983$555$299$155$78$14
49 years$952$530$281$143$71$12
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 $2,140 every year, while hoping to spend $28,286 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: 52/36/12 Blend
58$945,000$945,000$945,000$945,000
59$1,043,597$993,512$978,865$1,094,447
60$1,119,948$1,012,098$981,561$1,147,965
61$1,203,139$1,030,647$983,399$1,202,940
62$1,293,837$1,049,127$984,321$1,262,080
63$1,392,778$1,067,503$984,265$1,325,785
64$1,500,770$1,085,740$983,167$1,394,497
65$1,618,704$1,103,797$980,958$1,468,704
66$1,747,560$1,121,631$977,569$1,548,941
67$1,888,418$1,139,198$972,924$1,635,801
68$2,042,466$1,156,447$966,946$1,729,937
69$2,211,011$1,173,327$959,552$1,832,069
70$2,395,494$1,189,780$950,658$1,942,989
71$2,597,503$1,205,747$940,172$2,063,574
72$2,818,782$1,221,163$928,003$2,194,788
73$3,061,257$1,235,959$914,049$2,337,695
74$3,327,045$1,250,061$898,210$2,493,469
75$3,618,480$1,263,391$880,377$2,663,405
76$3,938,132$1,275,864$860,436$2,848,928
77$4,288,831$1,287,391$838,271$3,051,613
78$4,673,695$1,297,877$813,756$3,273,195
79$5,096,159$1,307,219$786,764$3,515,588
80$5,560,005$1,315,311$757,158$3,780,902
81$6,069,400$1,322,036$724,798$4,071,464
82$6,628,936$1,327,272$689,535$4,389,841
83$7,243,668$1,330,890$651,216$4,738,861
84$7,919,169$1,332,750$609,678$5,121,645
85$8,661,575$1,332,705$564,753$5,541,634
86$9,477,648$1,330,600$516,264$6,002,622
87$10,374,837$1,326,268$464,028$6,508,791
88$11,361,349$1,319,534$407,852$7,064,756
89$12,446,226$1,310,211$347,534$7,675,601
90$13,639,430$1,298,100$282,866$8,346,935
91$14,951,937$1,282,992$213,627$9,084,941
92$16,395,840$1,264,665$139,589$9,896,437
93$17,984,464$1,242,881$60,513$10,788,940
94$19,732,489$1,217,392$0$11,770,737
95$21,656,092$1,187,933$0$12,854,023
96$23,773,095$1,154,224$0$14,054,282
97$26,103,137$1,115,967$0$15,374,899
98$28,667,856$1,072,849$0$16,828,155
99$31,491,096$1,024,537$0$18,427,589
100$34,599,129$970,680$0$20,188,121