Can I retire at age 59 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$78,450$77,751$77,070$76,404$75,754$75,277
2 years$38,837$38,113$37,412$36,733$36,073$35,592
3 years$25,634$24,908$24,208$23,535$22,887$22,416
4 years$19,034$18,310$17,617$16,956$16,323$15,866
5 years$15,075$14,355$13,672$13,024$12,408$11,968
6 years$12,436$11,722$11,049$10,415$9,818$9,394
7 years$10,552$9,844$9,182$8,563$7,985$7,577
8 years$9,140$8,438$7,787$7,183$6,624$6,233
9 years$8,042$7,347$6,707$6,118$5,579$5,204
10 years$7,165$6,476$5,847$5,274$4,753$4,394
11 years$6,447$5,765$5,148$4,590$4,088$3,745
12 years$5,849$5,175$4,568$4,026$3,543$3,215
13 years$5,344$4,676$4,082$3,554$3,089$2,777
14 years$4,911$4,251$3,667$3,155$2,708$2,411
15 years$4,536$3,883$3,311$2,814$2,384$2,102
16 years$4,209$3,563$3,002$2,520$2,107$1,839
17 years$3,920$3,281$2,732$2,264$1,868$1,614
18 years$3,664$3,032$2,494$2,040$1,661$1,420
19 years$3,435$2,810$2,283$1,843$1,481$1,253
20 years$3,229$2,611$2,095$1,670$1,323$1,107
21 years$3,043$2,432$1,927$1,515$1,184$980
22 years$2,874$2,270$1,776$1,378$1,061$869
23 years$2,720$2,123$1,640$1,255$952$771
24 years$2,579$1,989$1,517$1,144$856$685
25 years$2,449$1,867$1,405$1,045$770$610
26 years$2,330$1,755$1,303$956$694$543
27 years$2,220$1,651$1,210$875$626$484
28 years$2,117$1,556$1,125$801$564$431
29 years$2,022$1,468$1,047$735$510$385
30 years$1,934$1,386$975$674$461$344
31 years$1,851$1,311$909$619$416$307
32 years$1,774$1,240$848$569$377$274
33 years$1,701$1,174$792$523$341$245
34 years$1,633$1,113$740$482$309$219
35 years$1,569$1,056$692$443$280$196
36 years$1,509$1,002$647$408$253$175
37 years$1,452$952$606$376$230$157
38 years$1,398$904$567$347$208$141
39 years$1,347$860$531$320$189$126
40 years$1,299$818$498$295$171$113
41 years$1,253$779$467$272$155$101
42 years$1,209$742$438$251$141$90
43 years$1,168$707$411$232$128$81
44 years$1,129$674$386$214$116$73
45 years$1,091$642$362$198$105$65
46 years$1,055$613$340$183$96$58
47 years$1,021$585$320$169$87$52
48 years$989$558$300$156$79$47
49 years$957$533$282$144$72$42
50 years$928$509$265$133$65$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $950,000, adding $4,319 every year, while hoping to spend $35,726 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: 59/15/26 Blend
58$950,000$950,000$950,000$950,000
59$1,051,355$1,001,005$986,280$1,105,762
60$1,120,581$1,012,042$981,308$1,154,410
61$1,195,671$1,022,423$974,972$1,203,254
62$1,277,185$1,032,077$967,189$1,255,774
63$1,365,739$1,040,930$957,872$1,312,337
64$1,462,011$1,048,902$946,927$1,373,345
65$1,566,748$1,055,910$934,261$1,439,245
66$1,680,770$1,061,863$919,772$1,510,530
67$1,804,979$1,066,666$903,356$1,587,743
68$1,940,371$1,070,216$884,902$1,671,485
69$2,088,037$1,072,405$864,295$1,762,419
70$2,249,183$1,073,119$841,415$1,861,277
71$2,425,133$1,072,235$816,135$1,968,869
72$2,617,345$1,069,624$788,325$2,086,086
73$2,827,426$1,065,147$757,845$2,213,915
74$3,057,144$1,058,659$724,553$2,353,442
75$3,308,444$1,050,004$688,297$2,505,869
76$3,583,469$1,039,019$648,919$2,672,521
77$3,884,581$1,025,529$606,256$2,854,861
78$4,214,378$1,009,349$560,135$3,054,504
79$4,575,721$990,284$510,376$3,273,231
80$4,971,763$968,126$456,792$3,513,009
81$5,405,974$942,656$399,186$3,776,007
82$5,882,179$913,641$337,354$4,064,621
83$6,404,587$880,836$271,081$4,381,491
84$6,977,838$843,980$200,145$4,729,532
85$7,607,039$802,797$124,312$5,111,961
86$8,297,819$756,996$43,339$5,532,326
87$9,056,377$706,269$0$5,994,540
88$9,889,542$650,290$0$6,514,870
89$10,804,835$588,715$0$7,099,738
90$11,810,546$521,179$0$7,742,437
91$12,915,803$447,298$0$8,448,844
92$14,130,664$366,665$0$9,225,432
93$15,466,210$278,850$0$10,079,338
94$16,934,651$183,401$0$11,018,428
95$18,549,435$79,837$0$12,051,372
96$20,325,382$0$0$13,187,722
97$22,278,819$0$0$14,443,350
98$24,427,733$0$0$15,839,212
99$26,791,947$0$0$17,375,015
100$29,393,296$0$0$19,064,956