Can I retire at age 59 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$78,285$77,588$76,907$76,243$75,595$73,708
2 years$38,755$38,033$37,334$36,655$35,998$34,108
3 years$25,580$24,855$24,157$23,485$22,838$21,006
4 years$18,994$18,271$17,580$16,920$16,288$14,527
5 years$15,043$14,325$13,643$12,996$12,382$10,697
6 years$12,410$11,697$11,026$10,393$9,798$8,190
7 years$10,530$9,823$9,162$8,545$7,968$6,438
8 years$9,121$8,420$7,770$7,168$6,610$5,157
9 years$8,025$7,331$6,693$6,106$5,567$4,189
10 years$7,149$6,462$5,835$5,263$4,743$3,440
11 years$6,433$5,753$5,137$4,580$4,079$2,849
12 years$5,837$5,164$4,559$4,018$3,535$2,374
13 years$5,333$4,666$4,073$3,547$3,083$1,990
14 years$4,901$4,242$3,660$3,149$2,702$1,675
15 years$4,527$3,875$3,304$2,808$2,379$1,415
16 years$4,200$3,555$2,996$2,514$2,103$1,199
17 years$3,912$3,274$2,726$2,259$1,864$1,018
18 years$3,656$3,025$2,488$2,036$1,658$867
19 years$3,427$2,804$2,278$1,840$1,478$739
20 years$3,222$2,606$2,091$1,666$1,320$631
21 years$3,036$2,427$1,923$1,512$1,181$540
22 years$2,868$2,265$1,772$1,375$1,059$462
23 years$2,714$2,119$1,636$1,252$950$396
24 years$2,573$1,985$1,513$1,142$854$339
25 years$2,444$1,863$1,402$1,043$769$291
26 years$2,325$1,751$1,300$954$692$250
27 years$2,215$1,648$1,207$873$624$215
28 years$2,113$1,553$1,122$800$563$184
29 years$2,018$1,465$1,044$733$509$158
30 years$1,930$1,383$973$673$460$136
31 years$1,847$1,308$907$618$415$117
32 years$1,770$1,237$846$568$376$101
33 years$1,698$1,172$790$522$340$87
34 years$1,630$1,111$738$481$308$75
35 years$1,566$1,053$690$442$279$64
36 years$1,506$1,000$646$407$253$55
37 years$1,449$950$604$375$229$48
38 years$1,395$902$566$346$208$41
39 years$1,344$858$530$319$188$35
40 years$1,296$816$497$294$171$30
41 years$1,250$777$466$272$155$26
42 years$1,207$740$437$251$141$23
43 years$1,166$705$410$231$128$19
44 years$1,126$672$385$214$116$17
45 years$1,089$641$362$197$105$14
46 years$1,053$612$340$182$95$12
47 years$1,019$584$319$168$87$11
48 years$987$557$300$156$79$9
49 years$955$532$282$144$72$8
50 years$926$508$265$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $948,000, adding $4,839 every year, while hoping to spend $34,619 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: 60/12/28 Blend
58$948,000$948,000$948,000$948,000
59$1,049,687$999,443$984,749$1,104,448
60$1,119,921$1,011,582$980,904$1,154,500
61$1,196,159$1,023,155$975,770$1,204,968
62$1,278,975$1,034,098$969,267$1,259,314
63$1,369,005$1,044,343$961,311$1,317,923
64$1,466,944$1,053,816$951,816$1,381,222
65$1,573,559$1,062,440$940,689$1,449,682
66$1,689,694$1,070,132$927,834$1,523,823
67$1,816,278$1,076,803$913,151$1,604,218
68$1,954,331$1,082,359$896,534$1,691,500
69$2,104,979$1,086,701$877,874$1,786,368
70$2,269,459$1,089,721$857,055$1,889,595
71$2,449,133$1,091,307$833,956$2,002,032
72$2,645,503$1,091,339$808,452$2,124,620
73$2,860,218$1,089,689$780,409$2,258,396
74$3,095,099$1,086,222$749,691$2,404,506
75$3,352,146$1,080,794$716,152$2,564,214
76$3,633,564$1,073,252$679,643$2,738,914
77$3,941,781$1,063,435$640,004$2,930,146
78$4,279,470$1,051,171$597,072$3,139,609
79$4,649,576$1,036,278$550,674$3,369,177
80$5,055,341$1,018,564$500,630$3,620,917
81$5,500,336$997,824$446,752$3,897,111
82$5,988,496$973,843$388,843$4,200,277
83$6,524,153$946,391$326,699$4,533,189
84$7,112,078$915,226$260,106$4,898,913
85$7,757,530$880,092$188,839$5,300,826
86$8,466,298$840,717$112,665$5,742,657
87$9,244,762$796,813$31,341$6,228,515
88$10,099,948$748,078$0$6,762,937
89$11,039,599$694,190$0$7,367,489
90$12,072,242$634,809$0$8,042,190
91$13,207,272$569,576$0$8,783,834
92$14,455,041$498,112$0$9,599,217
93$15,826,952$420,016$0$10,495,827
94$17,335,569$334,865$0$11,481,918
95$18,994,734$242,211$0$12,566,586
96$20,819,699$141,581$0$13,759,854
97$22,827,266$32,477$0$15,072,769
98$25,035,950$0$0$16,517,505
99$27,466,149$0$0$18,118,787
100$30,140,340$0$0$19,885,644