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%15.7%
1 years$78,037$77,342$76,664$76,002$75,356$73,594
2 years$38,632$37,913$37,215$36,539$35,884$34,119
3 years$25,499$24,776$24,081$23,411$22,766$21,053
4 years$18,934$18,213$17,525$16,866$16,237$14,589
5 years$14,996$14,279$13,600$12,955$12,343$10,765
6 years$12,371$11,660$10,991$10,360$9,767$8,260
7 years$10,497$9,792$9,133$8,518$7,943$6,508
8 years$9,092$8,394$7,746$7,145$6,589$5,225
9 years$8,000$7,308$6,671$6,086$5,549$4,255
10 years$7,127$6,442$5,816$5,246$4,728$3,503
11 years$6,413$5,735$5,121$4,566$4,066$2,908
12 years$5,818$5,147$4,544$4,005$3,524$2,430
13 years$5,316$4,652$4,060$3,536$3,073$2,042
14 years$4,885$4,228$3,648$3,139$2,694$1,724
15 years$4,513$3,863$3,294$2,799$2,372$1,460
16 years$4,187$3,544$2,986$2,506$2,096$1,241
17 years$3,900$3,264$2,717$2,252$1,859$1,057
18 years$3,645$3,016$2,481$2,029$1,653$902
19 years$3,417$2,795$2,271$1,834$1,473$772
20 years$3,212$2,597$2,084$1,661$1,316$661
21 years$3,027$2,419$1,917$1,507$1,177$567
22 years$2,859$2,258$1,767$1,370$1,055$487
23 years$2,705$2,112$1,631$1,248$947$418
24 years$2,565$1,979$1,509$1,138$852$360
25 years$2,436$1,857$1,397$1,040$766$310
26 years$2,318$1,745$1,296$951$690$267
27 years$2,208$1,643$1,203$870$622$230
28 years$2,106$1,548$1,119$797$561$198
29 years$2,012$1,460$1,041$731$507$171
30 years$1,924$1,379$970$671$458$147
31 years$1,841$1,304$904$616$414$127
32 years$1,764$1,233$843$566$375$110
33 years$1,692$1,168$788$521$339$95
34 years$1,625$1,107$736$479$307$82
35 years$1,561$1,050$688$441$278$71
36 years$1,501$997$644$406$252$61
37 years$1,444$947$602$374$228$53
38 years$1,391$900$564$345$207$45
39 years$1,340$855$529$318$188$39
40 years$1,292$814$495$293$170$34
41 years$1,246$775$464$271$154$29
42 years$1,203$738$436$250$140$25
43 years$1,162$703$409$231$127$22
44 years$1,123$670$384$213$115$19
45 years$1,085$639$360$197$105$16
46 years$1,050$610$338$182$95$14
47 years$1,016$582$318$168$86$12
48 years$983$555$299$155$78$11
49 years$952$530$281$143$71$9
50 years$923$507$264$132$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $945,000, adding $3,241 every year, while hoping to spend $38,019 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: 62/32/6 Blend
58$945,000$945,000$945,000$945,000
59$1,044,733$994,648$980,001$1,108,186
60$1,110,844$1,002,934$972,379$1,159,209
61$1,182,424$1,010,352$963,227$1,210,141
62$1,259,991$1,016,818$952,455$1,264,746
63$1,344,113$1,022,246$939,966$1,323,380
64$1,435,418$1,026,541$925,660$1,386,431
65$1,534,593$1,029,604$909,432$1,454,330
66$1,642,397$1,031,330$891,173$1,527,553
67$1,759,661$1,031,605$870,767$1,606,624
68$1,887,303$1,030,310$848,094$1,692,121
69$2,026,331$1,027,319$823,029$1,784,685
70$2,177,856$1,022,497$795,440$1,885,020
71$2,343,099$1,015,700$765,188$1,993,904
72$2,523,405$1,006,779$732,131$2,112,196
73$2,720,252$995,572$696,118$2,240,844
74$2,935,271$981,908$656,992$2,380,896
75$3,170,256$965,608$614,587$2,533,504
76$3,427,179$946,480$568,733$2,699,945
77$3,708,216$924,322$519,250$2,881,623
78$4,015,759$898,919$465,951$3,080,091
79$4,352,445$870,045$408,639$3,297,063
80$4,721,176$837,459$347,110$3,534,426
81$5,125,149$800,907$281,150$3,794,268
82$5,567,882$760,119$210,537$4,078,889
83$6,053,253$714,812$135,037$4,390,828
84$6,585,532$664,685$54,408$4,732,886
85$7,169,421$609,419$0$5,108,154
86$7,810,099$548,678$0$5,522,067
87$8,513,273$482,107$0$5,980,211
88$9,285,227$409,331$0$6,483,266
89$10,132,883$329,951$0$7,035,831
90$11,063,869$243,550$0$7,642,973
91$12,086,583$149,684$0$8,310,285
92$13,210,282$47,886$0$9,043,932
93$14,445,161$0$0$9,850,716
94$15,802,451$0$0$10,760,085
95$17,294,527$0$0$11,778,373
96$18,935,022$0$0$12,898,029
97$20,738,955$0$0$14,129,316
98$22,722,876$0$0$15,483,539
99$24,905,016$0$0$16,973,152
100$27,305,462$0$0$18,611,881