Can I retire at age 59 with 948,000?

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 $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%17.4%
1 years$78,285$77,588$76,907$76,243$75,595$73,322
2 years$38,755$38,033$37,334$36,655$35,998$33,727
3 years$25,580$24,855$24,157$23,485$22,838$20,641
4 years$18,994$18,271$17,580$16,920$16,288$14,181
5 years$15,043$14,325$13,643$12,996$12,382$10,371
6 years$12,410$11,697$11,026$10,393$9,798$7,884
7 years$10,530$9,823$9,162$8,545$7,968$6,152
8 years$9,121$8,420$7,770$7,168$6,610$4,891
9 years$8,025$7,331$6,693$6,106$5,567$3,942
10 years$7,149$6,462$5,835$5,263$4,743$3,211
11 years$6,433$5,753$5,137$4,580$4,079$2,636
12 years$5,837$5,164$4,559$4,018$3,535$2,179
13 years$5,333$4,666$4,073$3,547$3,083$1,810
14 years$4,901$4,242$3,660$3,149$2,702$1,510
15 years$4,527$3,875$3,304$2,808$2,379$1,264
16 years$4,200$3,555$2,996$2,514$2,103$1,061
17 years$3,912$3,274$2,726$2,259$1,864$893
18 years$3,656$3,025$2,488$2,036$1,658$753
19 years$3,427$2,804$2,278$1,840$1,478$636
20 years$3,222$2,606$2,091$1,666$1,320$537
21 years$3,036$2,427$1,923$1,512$1,181$455
22 years$2,868$2,265$1,772$1,375$1,059$385
23 years$2,714$2,119$1,636$1,252$950$327
24 years$2,573$1,985$1,513$1,142$854$277
25 years$2,444$1,863$1,402$1,043$769$236
26 years$2,325$1,751$1,300$954$692$200
27 years$2,215$1,648$1,207$873$624$170
28 years$2,113$1,553$1,122$800$563$145
29 years$2,018$1,465$1,044$733$509$123
30 years$1,930$1,383$973$673$460$105
31 years$1,847$1,308$907$618$415$89
32 years$1,770$1,237$846$568$376$76
33 years$1,698$1,172$790$522$340$64
34 years$1,630$1,111$738$481$308$55
35 years$1,566$1,053$690$442$279$47
36 years$1,506$1,000$646$407$253$40
37 years$1,449$950$604$375$229$34
38 years$1,395$902$566$346$208$29
39 years$1,344$858$530$319$188$25
40 years$1,296$816$497$294$171$21
41 years$1,250$777$466$272$155$18
42 years$1,207$740$437$251$141$15
43 years$1,166$705$410$231$128$13
44 years$1,126$672$385$214$116$11
45 years$1,089$641$362$197$105$9
46 years$1,053$612$340$182$95$8
47 years$1,019$584$319$168$87$7
48 years$987$557$300$156$79$6
49 years$955$532$282$144$72$5
50 years$926$508$265$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $948,000, adding $2,305 every year, while hoping to spend $55,510 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: 79/13/8 Blend
58$948,000$948,000$948,000$948,000
59$1,047,074$996,830$982,136$1,128,489
60$1,094,813$986,612$955,975$1,172,000
61$1,145,561$974,033$927,077$1,212,243
62$1,199,567$958,919$895,293$1,254,742
63$1,257,101$941,085$860,464$1,299,696
64$1,318,462$920,335$822,426$1,347,324
65$1,383,976$896,462$781,008$1,397,868
66$1,454,000$869,247$736,030$1,451,594
67$1,528,925$838,457$687,304$1,508,796
68$1,609,181$803,847$634,635$1,569,798
69$1,695,239$765,157$577,816$1,634,958
70$1,787,615$722,112$516,635$1,704,670
71$1,886,877$674,420$450,867$1,779,371
72$1,993,646$621,774$380,279$1,859,542
73$2,108,607$563,850$304,627$1,945,712
74$2,232,509$500,303$223,656$2,038,468
75$2,366,177$430,770$137,101$2,138,456
76$2,510,517$354,868$44,684$2,246,389
77$2,666,524$272,190$0$2,363,054
78$2,835,291$182,310$0$2,493,926
79$3,018,021$84,773$0$2,639,729
80$3,216,036$0$0$2,797,730
81$3,430,789$0$0$2,972,115
82$3,663,878$0$0$3,174,576
83$3,917,062$0$0$3,394,517
84$4,192,274$0$0$3,633,619
85$4,491,641$0$0$3,893,735
86$4,817,503$0$0$4,176,902
87$5,172,437$0$0$4,485,360
88$5,559,275$0$0$4,821,578
89$5,981,138$0$0$5,188,269
90$6,441,457$0$0$5,588,422
91$6,944,012$0$0$6,025,326
92$7,492,961$0$0$6,502,600
93$8,092,883$0$0$7,024,231
94$8,748,821$0$0$7,594,607
95$9,466,324$0$0$8,218,559
96$10,251,503$0$0$8,901,408
97$11,111,088$0$0$9,649,010
98$12,052,490$0$0$10,467,818
99$13,083,870$0$0$11,364,933
100$14,214,213$0$0$12,348,181