Can I retire at age 59 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$78,120$77,424$76,745$76,082$75,435$73,612
2 years$38,673$37,953$37,255$36,578$35,922$34,095
3 years$25,526$24,803$24,106$23,436$22,790$21,018
4 years$18,954$18,233$17,543$16,884$16,254$14,550
5 years$15,011$14,295$13,614$12,969$12,356$10,725
6 years$12,384$11,673$11,002$10,371$9,777$8,220
7 years$10,508$9,803$9,143$8,527$7,951$6,469
8 years$9,102$8,403$7,754$7,153$6,596$5,188
9 years$8,008$7,316$6,679$6,093$5,555$4,220
10 years$7,134$6,449$5,822$5,252$4,733$3,469
11 years$6,420$5,741$5,126$4,571$4,071$2,876
12 years$5,825$5,153$4,549$4,009$3,528$2,401
13 years$5,321$4,657$4,064$3,539$3,076$2,015
14 years$4,890$4,233$3,652$3,142$2,697$1,698
15 years$4,517$3,867$3,297$2,802$2,374$1,437
16 years$4,191$3,548$2,989$2,509$2,098$1,219
17 years$3,904$3,267$2,720$2,254$1,861$1,037
18 years$3,648$3,019$2,483$2,032$1,654$884
19 years$3,420$2,798$2,273$1,836$1,475$755
20 years$3,215$2,600$2,086$1,663$1,317$646
21 years$3,030$2,422$1,919$1,509$1,179$553
22 years$2,862$2,261$1,769$1,372$1,056$474
23 years$2,708$2,114$1,633$1,249$948$407
24 years$2,568$1,981$1,510$1,140$852$349
25 years$2,439$1,859$1,399$1,041$767$300
26 years$2,320$1,747$1,297$952$691$258
27 years$2,210$1,644$1,205$871$623$222
28 years$2,108$1,549$1,120$798$562$191
29 years$2,014$1,462$1,042$732$508$164
30 years$1,926$1,380$971$672$459$142
31 years$1,843$1,305$905$617$415$122
32 years$1,766$1,235$844$567$375$105
33 years$1,694$1,169$788$521$339$91
34 years$1,626$1,108$737$480$307$78
35 years$1,563$1,051$689$442$278$67
36 years$1,502$998$644$407$252$58
37 years$1,446$948$603$375$229$50
38 years$1,392$901$565$345$207$43
39 years$1,341$856$529$318$188$37
40 years$1,293$815$496$294$170$32
41 years$1,248$776$465$271$155$28
42 years$1,204$739$436$250$140$24
43 years$1,163$704$409$231$127$21
44 years$1,124$671$384$213$116$18
45 years$1,087$640$361$197$105$15
46 years$1,051$610$339$182$95$13
47 years$1,017$582$318$168$87$11
48 years$984$556$299$155$79$10
49 years$953$531$281$143$71$8
50 years$924$507$264$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $946,000, adding $3,319 every year, while hoping to spend $57,979 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: 31/48/21 Blend
58$946,000$946,000$946,000$946,000
59$1,045,916$995,778$981,115$1,071,423
60$1,090,910$982,881$952,293$1,078,093
61$1,138,550$967,410$920,562$1,079,812
62$1,189,045$949,176$885,764$1,080,454
63$1,242,624$927,982$847,733$1,079,960
64$1,299,534$903,616$806,295$1,078,272
65$1,360,050$875,856$761,269$1,075,332
66$1,424,469$844,467$712,465$1,071,083
67$1,493,118$809,199$659,686$1,065,467
68$1,566,354$769,789$602,724$1,058,430
69$1,644,571$725,957$541,364$1,049,917
70$1,728,197$677,408$475,379$1,039,879
71$1,817,703$623,831$404,534$1,028,268
72$1,913,605$564,895$328,583$1,015,040
73$2,016,470$500,252$247,267$1,000,159
74$2,126,919$429,533$160,320$983,593
75$2,245,634$352,350$67,460$965,317
76$2,373,363$268,290$0$945,318
77$2,510,929$176,919$0$930,681
78$2,659,235$77,779$0$930,916
79$2,819,272$0$0$930,987
80$2,992,130$0$0$946,650
81$3,179,006$0$0$1,008,112
82$3,381,216$0$0$1,074,737
83$3,600,207$0$0$1,147,017
84$3,837,569$0$0$1,225,494
85$4,095,052$0$0$1,310,762
86$4,374,579$0$0$1,403,476
87$4,678,265$0$0$1,504,356
88$5,008,438$0$0$1,614,194
89$5,367,658$0$0$1,733,862
90$5,758,741$0$0$1,864,319
91$6,184,787$0$0$2,006,621
92$6,649,208$0$0$2,161,930
93$7,155,758$0$0$2,331,526
94$7,708,568$0$0$2,516,817
95$8,312,186$0$0$2,719,353
96$8,971,620$0$0$2,940,840
97$9,692,382$0$0$3,183,159
98$10,480,539$0$0$3,448,379
99$11,342,774$0$0$3,738,778
100$12,286,443$0$0$4,056,866