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%
1 years$78,285$77,588$76,907$76,243$75,595$73,440
2 years$38,755$38,033$37,334$36,655$35,998$33,843
3 years$25,580$24,855$24,157$23,485$22,838$20,752
4 years$18,994$18,271$17,580$16,920$16,288$14,287
5 years$15,043$14,325$13,643$12,996$12,382$10,470
6 years$12,410$11,697$11,026$10,393$9,798$7,977
7 years$10,530$9,823$9,162$8,545$7,968$6,239
8 years$9,121$8,420$7,770$7,168$6,610$4,971
9 years$8,025$7,331$6,693$6,106$5,567$4,016
10 years$7,149$6,462$5,835$5,263$4,743$3,280
11 years$6,433$5,753$5,137$4,580$4,079$2,700
12 years$5,837$5,164$4,559$4,018$3,535$2,237
13 years$5,333$4,666$4,073$3,547$3,083$1,864
14 years$4,901$4,242$3,660$3,149$2,702$1,559
15 years$4,527$3,875$3,304$2,808$2,379$1,309
16 years$4,200$3,555$2,996$2,514$2,103$1,102
17 years$3,912$3,274$2,726$2,259$1,864$930
18 years$3,656$3,025$2,488$2,036$1,658$786
19 years$3,427$2,804$2,278$1,840$1,478$666
20 years$3,222$2,606$2,091$1,666$1,320$565
21 years$3,036$2,427$1,923$1,512$1,181$480
22 years$2,868$2,265$1,772$1,375$1,059$408
23 years$2,714$2,119$1,636$1,252$950$347
24 years$2,573$1,985$1,513$1,142$854$295
25 years$2,444$1,863$1,402$1,043$769$251
26 years$2,325$1,751$1,300$954$692$214
27 years$2,215$1,648$1,207$873$624$183
28 years$2,113$1,553$1,122$800$563$156
29 years$2,018$1,465$1,044$733$509$133
30 years$1,930$1,383$973$673$460$113
31 years$1,847$1,308$907$618$415$97
32 years$1,770$1,237$846$568$376$83
33 years$1,698$1,172$790$522$340$71
34 years$1,630$1,111$738$481$308$60
35 years$1,566$1,053$690$442$279$51
36 years$1,506$1,000$646$407$253$44
37 years$1,449$950$604$375$229$38
38 years$1,395$902$566$346$208$32
39 years$1,344$858$530$319$188$27
40 years$1,296$816$497$294$171$23
41 years$1,250$777$466$272$155$20
42 years$1,207$740$437$251$141$17
43 years$1,166$705$410$231$128$15
44 years$1,126$672$385$214$116$12
45 years$1,089$641$362$197$105$11
46 years$1,053$612$340$182$95$9
47 years$1,019$584$319$168$87$8
48 years$987$557$300$156$79$7
49 years$955$532$282$144$72$6
50 years$926$508$265$133$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $948,000, adding $3,882 every year, while hoping to spend $51,168 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: 43/39/18 Blend
58$948,000$948,000$948,000$948,000
59$1,048,700$998,456$983,762$1,088,149
60$1,101,225$992,938$962,276$1,110,816
61$1,157,393$985,435$938,355$1,130,031
62$1,217,521$975,795$911,864$1,149,773
63$1,281,957$963,858$882,660$1,170,116
64$1,351,084$949,454$850,596$1,191,145
65$1,425,320$932,403$815,517$1,212,954
66$1,505,125$912,513$777,259$1,235,655
67$1,591,005$889,584$735,655$1,259,372
68$1,683,514$863,400$690,526$1,284,248
69$1,783,261$833,735$641,687$1,310,444
70$1,890,915$800,350$588,945$1,338,144
71$2,007,212$762,990$532,097$1,367,554
72$2,132,958$721,387$470,933$1,398,908
73$2,269,042$675,258$405,232$1,432,470
74$2,416,441$624,301$334,764$1,468,538
75$2,576,227$568,201$259,287$1,507,444
76$2,749,580$506,621$178,551$1,549,565
77$2,937,798$439,206$92,294$1,595,322
78$3,142,309$365,583$241$1,645,188
79$3,364,683$285,355$0$1,699,691
80$3,606,648$198,104$0$1,778,245
81$3,870,104$103,390$0$1,863,965
82$4,157,144$745$0$1,957,603
83$4,470,068$0$0$2,060,050
84$4,811,412$0$0$2,219,638
85$5,183,962$0$0$2,394,275
86$5,590,789$0$0$2,585,095
87$6,035,271$0$0$2,793,696
88$6,521,128$0$0$3,021,840
89$7,052,456$0$0$3,271,465
90$7,633,764$0$0$3,544,705
91$8,270,016$0$0$3,843,912
92$8,966,681$0$0$4,171,674
93$9,729,780$0$0$4,530,842
94$10,565,942$0$0$4,924,554
95$11,482,470$0$0$5,356,270
96$12,487,406$0$0$5,829,798
97$13,589,608$0$0$6,349,331
98$14,798,831$0$0$6,919,491
99$16,125,823$0$0$7,545,368
100$17,582,419$0$0$8,232,566