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%19.8%
1 years$78,120$77,424$76,745$76,082$75,435$72,471
2 years$38,673$37,953$37,255$36,578$35,922$32,971
3 years$25,526$24,803$24,106$23,436$22,790$19,947
4 years$18,954$18,233$17,543$16,884$16,254$13,539
5 years$15,011$14,295$13,614$12,969$12,356$9,777
6 years$12,384$11,673$11,002$10,371$9,777$7,335
7 years$10,508$9,803$9,143$8,527$7,951$5,646
8 years$9,102$8,403$7,754$7,153$6,596$4,425
9 years$8,008$7,316$6,679$6,093$5,555$3,514
10 years$7,134$6,449$5,822$5,252$4,733$2,819
11 years$6,420$5,741$5,126$4,571$4,071$2,279
12 years$5,825$5,153$4,549$4,009$3,528$1,854
13 years$5,321$4,657$4,064$3,539$3,076$1,515
14 years$4,890$4,233$3,652$3,142$2,697$1,243
15 years$4,517$3,867$3,297$2,802$2,374$1,023
16 years$4,191$3,548$2,989$2,509$2,098$844
17 years$3,904$3,267$2,720$2,254$1,861$698
18 years$3,648$3,019$2,483$2,032$1,654$578
19 years$3,420$2,798$2,273$1,836$1,475$479
20 years$3,215$2,600$2,086$1,663$1,317$398
21 years$3,030$2,422$1,919$1,509$1,179$330
22 years$2,862$2,261$1,769$1,372$1,056$275
23 years$2,708$2,114$1,633$1,249$948$229
24 years$2,568$1,981$1,510$1,140$852$190
25 years$2,439$1,859$1,399$1,041$767$159
26 years$2,320$1,747$1,297$952$691$132
27 years$2,210$1,644$1,205$871$623$110
28 years$2,108$1,549$1,120$798$562$92
29 years$2,014$1,462$1,042$732$508$77
30 years$1,926$1,380$971$672$459$64
31 years$1,843$1,305$905$617$415$53
32 years$1,766$1,235$844$567$375$44
33 years$1,694$1,169$788$521$339$37
34 years$1,626$1,108$737$480$307$31
35 years$1,563$1,051$689$442$278$26
36 years$1,502$998$644$407$252$22
37 years$1,446$948$603$375$229$18
38 years$1,392$901$565$345$207$15
39 years$1,341$856$529$318$188$13
40 years$1,293$815$496$294$170$10
41 years$1,248$776$465$271$155$9
42 years$1,204$739$436$250$140$7
43 years$1,163$704$409$231$127$6
44 years$1,124$671$384$213$116$5
45 years$1,087$640$361$197$105$4
46 years$1,051$610$339$182$95$4
47 years$1,017$582$318$168$87$3
48 years$984$556$299$155$79$2
49 years$953$531$281$143$71$2
50 years$924$507$264$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $946,000, adding $4,553 every year, while hoping to spend $58,980 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: 50/32/18 Blend
58$946,000$946,000$946,000$946,000
59$1,047,188$997,050$982,387$1,094,103
60$1,091,247$983,152$952,543$1,113,066
61$1,137,824$966,595$919,722$1,127,210
62$1,187,112$947,188$883,763$1,141,312
63$1,239,324$924,727$844,496$1,155,389
64$1,294,692$898,996$801,744$1,169,464
65$1,353,470$869,766$755,321$1,183,566
66$1,415,935$836,796$705,036$1,197,729
67$1,482,390$799,828$650,684$1,211,999
68$1,553,168$758,594$592,056$1,226,428
69$1,628,631$712,805$528,930$1,241,079
70$1,709,179$662,160$461,077$1,256,027
71$1,795,247$606,338$388,254$1,271,361
72$1,887,313$545,000$310,212$1,287,184
73$1,985,902$477,788$226,688$1,303,615
74$2,091,589$404,324$137,406$1,320,795
75$2,205,004$324,209$42,083$1,338,882
76$2,326,840$237,021$0$1,358,063
77$2,457,857$142,314$0$1,390,003
78$2,598,888$39,617$0$1,432,858
79$2,750,849$0$0$1,478,875
80$2,914,748$0$0$1,553,633
81$3,091,688$0$0$1,649,476
82$3,282,884$0$0$1,753,123
83$3,489,672$0$0$1,865,307
84$3,713,518$0$0$1,986,835
85$3,956,035$0$0$2,118,594
86$4,218,996$0$0$2,261,558
87$4,504,352$0$0$2,416,802
88$4,814,248$0$0$2,585,503
89$5,151,042$0$0$2,768,962
90$5,517,330$0$0$2,968,605
91$5,915,967$0$0$3,186,003
92$6,350,095$0$0$3,422,886
93$6,823,171$0$0$3,681,157
94$7,339,000$0$0$3,962,909
95$7,901,769$0$0$4,270,447
96$8,516,088$0$0$4,606,308
97$9,187,030$0$0$4,973,286
98$9,920,180$0$0$5,374,456
99$10,721,688$0$0$5,813,203
100$11,598,324$0$0$6,293,254