Can I retire at age 59 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$78,533$77,833$77,151$76,485$75,834$72,854
2 years$38,878$38,154$37,452$36,771$36,111$33,146
3 years$25,661$24,934$24,234$23,560$22,911$20,052
4 years$19,054$18,329$17,636$16,974$16,340$13,611
5 years$15,091$14,370$13,686$13,037$12,421$9,829
6 years$12,449$11,734$11,061$10,426$9,829$7,374
7 years$10,564$9,854$9,191$8,572$7,993$5,676
8 years$9,150$8,447$7,795$7,191$6,631$4,448
9 years$8,051$7,355$6,714$6,125$5,584$3,533
10 years$7,172$6,483$5,853$5,280$4,758$2,834
11 years$6,454$5,771$5,153$4,595$4,092$2,292
12 years$5,855$5,180$4,573$4,030$3,546$1,864
13 years$5,350$4,681$4,086$3,558$3,092$1,523
14 years$4,916$4,255$3,671$3,159$2,711$1,250
15 years$4,541$3,887$3,315$2,817$2,387$1,028
16 years$4,213$3,566$3,005$2,522$2,109$848
17 years$3,924$3,284$2,735$2,266$1,870$701
18 years$3,668$3,035$2,496$2,042$1,663$581
19 years$3,438$2,813$2,285$1,845$1,482$482
20 years$3,232$2,614$2,097$1,671$1,324$400
21 years$3,046$2,435$1,929$1,517$1,185$332
22 years$2,877$2,273$1,778$1,379$1,062$276
23 years$2,723$2,126$1,642$1,256$953$230
24 years$2,581$1,992$1,518$1,146$857$191
25 years$2,452$1,869$1,406$1,046$771$159
26 years$2,332$1,756$1,304$957$695$133
27 years$2,222$1,653$1,211$876$626$111
28 years$2,120$1,558$1,126$802$565$92
29 years$2,024$1,469$1,048$736$510$77
30 years$1,936$1,388$976$675$461$64
31 years$1,853$1,312$910$620$417$54
32 years$1,776$1,241$849$570$377$45
33 years$1,703$1,176$793$524$341$37
34 years$1,635$1,114$741$482$309$31
35 years$1,571$1,057$692$444$280$26
36 years$1,510$1,003$648$409$254$22
37 years$1,453$953$606$377$230$18
38 years$1,399$905$568$347$208$15
39 years$1,348$861$532$320$189$13
40 years$1,300$819$499$295$171$10
41 years$1,254$780$467$272$155$9
42 years$1,211$743$438$251$141$7
43 years$1,169$707$411$232$128$6
44 years$1,130$674$386$214$116$5
45 years$1,092$643$363$198$105$4
46 years$1,057$613$341$183$96$4
47 years$1,022$585$320$169$87$3
48 years$990$559$301$156$79$2
49 years$958$534$283$144$72$2
50 years$929$510$266$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $951,000, adding $2,359 every year, while hoping to spend $59,140 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: 59/27/14 Blend
58$951,000$951,000$951,000$951,000
59$1,050,435$1,000,032$985,292$1,108,583
60$1,094,655$986,109$955,375$1,134,166
61$1,141,403$969,522$922,473$1,155,257
62$1,190,875$950,078$886,425$1,176,859
63$1,243,285$927,571$847,060$1,199,029
64$1,298,864$901,787$804,201$1,221,832
65$1,357,869$872,495$757,662$1,245,341
66$1,420,577$839,453$707,250$1,269,641
67$1,487,295$802,405$652,761$1,294,828
68$1,558,354$761,078$593,984$1,321,013
69$1,634,122$715,186$530,698$1,348,319
70$1,714,997$664,426$462,671$1,376,888
71$1,801,419$608,475$389,663$1,406,878
72$1,893,868$546,994$311,421$1,438,470
73$1,992,871$479,625$227,682$1,471,867
74$2,099,006$405,989$138,172$1,507,299
75$2,212,907$325,685$42,602$1,545,021
76$2,335,270$238,289$0$1,585,324
77$2,466,857$143,355$0$1,637,405
78$2,608,509$40,412$0$1,700,123
79$2,761,145$0$0$1,767,567
80$2,925,777$0$0$1,861,351
81$3,103,515$0$0$1,975,623
82$3,295,581$0$0$2,099,171
83$3,503,317$0$0$2,232,865
84$3,728,196$0$0$2,377,662
85$3,971,841$0$0$2,534,615
86$4,236,033$0$0$2,704,882
87$4,522,734$0$0$2,889,736
88$4,834,098$0$0$3,090,577
89$5,172,499$0$0$3,308,946
90$5,540,544$0$0$3,546,537
91$5,941,103$0$0$3,805,215
92$6,377,336$0$0$4,087,031
93$6,852,717$0$0$4,394,243
94$7,371,071$0$0$4,729,337
95$7,936,607$0$0$5,095,047
96$8,553,959$0$0$5,494,384
97$9,228,227$0$0$5,930,662
98$9,965,027$0$0$6,407,530
99$10,770,538$0$0$6,929,004
100$11,651,568$0$0$7,499,508