Can I retire at age 59 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$78,202$77,506$76,826$76,163$75,515$72,634
2 years$38,714$37,993$37,294$36,617$35,960$33,091
3 years$25,553$24,829$24,132$23,461$22,814$20,048
4 years$18,974$18,252$17,562$16,902$16,271$13,629
5 years$15,027$14,310$13,629$12,982$12,369$9,857
6 years$12,397$11,685$11,014$10,382$9,787$7,407
7 years$10,519$9,813$9,153$8,536$7,960$5,711
8 years$9,111$8,412$7,762$7,160$6,603$4,484
9 years$8,017$7,324$6,686$6,099$5,561$3,568
10 years$7,142$6,456$5,829$5,257$4,738$2,868
11 years$6,427$5,747$5,131$4,576$4,075$2,323
12 years$5,831$5,158$4,554$4,013$3,531$1,893
13 years$5,327$4,661$4,069$3,543$3,079$1,551
14 years$4,896$4,237$3,656$3,145$2,699$1,275
15 years$4,522$3,871$3,301$2,805$2,377$1,051
16 years$4,196$3,551$2,993$2,512$2,101$869
17 years$3,908$3,271$2,723$2,257$1,863$720
18 years$3,652$3,022$2,486$2,034$1,656$598
19 years$3,424$2,801$2,276$1,838$1,476$497
20 years$3,219$2,603$2,088$1,664$1,318$413
21 years$3,033$2,424$1,921$1,510$1,180$344
22 years$2,865$2,263$1,771$1,373$1,058$287
23 years$2,711$2,117$1,635$1,251$949$239
24 years$2,571$1,983$1,512$1,141$853$200
25 years$2,442$1,861$1,400$1,042$768$167
26 years$2,323$1,749$1,299$953$692$139
27 years$2,213$1,646$1,206$872$624$116
28 years$2,111$1,551$1,121$799$563$97
29 years$2,016$1,463$1,043$733$508$81
30 years$1,928$1,382$972$672$459$68
31 years$1,845$1,306$906$617$415$57
32 years$1,768$1,236$845$567$375$48
33 years$1,696$1,171$789$522$340$40
34 years$1,628$1,109$737$480$308$33
35 years$1,564$1,052$689$442$279$28
36 years$1,504$999$645$407$252$23
37 years$1,447$949$604$375$229$19
38 years$1,394$902$565$346$207$16
39 years$1,343$857$530$319$188$14
40 years$1,295$816$496$294$171$11
41 years$1,249$776$465$271$155$10
42 years$1,206$739$437$250$140$8
43 years$1,164$705$410$231$127$7
44 years$1,125$672$385$213$116$6
45 years$1,088$640$361$197$105$5
46 years$1,052$611$339$182$95$4
47 years$1,018$583$319$168$87$3
48 years$985$557$299$155$79$3
49 years$954$531$281$144$71$2
50 years$925$508$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $947,000, adding $3,798 every year, while hoping to spend $21,628 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: 41/29/30 Blend
58$947,000$947,000$947,000$947,000
59$1,047,512$997,321$982,642$1,081,091
60$1,131,346$1,023,177$992,549$1,131,686
61$1,223,006$1,049,576$1,002,062$1,184,128
62$1,323,268$1,076,521$1,011,147$1,240,491
63$1,432,986$1,104,014$1,019,764$1,301,151
64$1,553,099$1,132,060$1,027,875$1,366,519
65$1,684,643$1,160,658$1,035,436$1,437,052
66$1,828,758$1,189,812$1,042,405$1,513,251
67$1,986,699$1,219,521$1,048,734$1,595,670
68$2,159,850$1,249,786$1,054,374$1,684,919
69$2,349,734$1,280,604$1,059,275$1,781,668
70$2,558,027$1,311,974$1,063,381$1,886,658
71$2,786,578$1,343,892$1,066,636$2,000,706
72$3,037,421$1,376,356$1,068,980$2,124,712
73$3,312,799$1,409,358$1,070,352$2,259,668
74$3,615,180$1,442,892$1,070,685$2,406,666
75$3,947,285$1,476,950$1,069,909$2,566,912
76$4,312,111$1,511,524$1,067,954$2,741,735
77$4,712,958$1,546,600$1,064,742$2,932,600
78$5,153,464$1,582,167$1,060,195$3,141,120
79$5,637,634$1,618,211$1,054,228$3,369,076
80$6,169,883$1,654,713$1,046,755$3,618,431
81$6,755,073$1,691,657$1,037,684$3,891,347
82$7,398,563$1,729,020$1,026,919$4,190,208
83$8,106,254$1,766,780$1,014,358$4,517,645
84$8,884,651$1,804,911$999,898$4,876,554
85$9,740,918$1,843,384$983,427$5,270,131
86$10,682,951$1,882,168$964,831$5,701,897
87$11,719,447$1,921,230$943,988$6,175,734
88$12,859,991$1,960,531$920,772$6,695,923
89$14,115,143$2,000,030$895,051$7,267,181
90$15,496,539$2,039,682$866,686$7,894,710
91$17,016,999$2,079,440$835,534$8,584,241
92$18,690,650$2,119,250$801,441$9,342,096
93$20,533,058$2,159,055$764,251$10,175,240
94$22,561,375$2,198,793$723,798$11,091,354
95$24,794,499$2,238,398$679,909$12,098,902
96$27,253,255$2,277,797$632,404$13,207,215
97$29,960,591$2,316,913$581,093$14,426,580
98$32,941,791$2,355,661$525,779$15,768,335
99$36,224,718$2,393,953$466,257$17,244,977
100$39,840,074$2,431,691$402,312$18,870,281