Can I retire at age 59 with 953,000?

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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$78,698$77,997$77,313$76,645$75,994$75,137
2 years$38,959$38,234$37,531$36,849$36,187$35,326
3 years$25,715$24,986$24,285$23,609$22,959$22,118
4 years$19,094$18,367$17,673$17,009$16,374$15,561
5 years$15,122$14,400$13,715$13,065$12,448$11,664
6 years$12,476$11,759$11,084$10,448$9,849$9,097
7 years$10,586$9,875$9,211$8,590$8,010$7,289
8 years$9,169$8,465$7,811$7,206$6,645$5,955
9 years$8,068$7,370$6,728$6,138$5,596$4,937
10 years$7,187$6,496$5,866$5,291$4,768$4,139
11 years$6,467$5,783$5,164$4,605$4,101$3,501
12 years$5,868$5,191$4,583$4,039$3,554$2,983
13 years$5,361$4,691$4,095$3,566$3,099$2,557
14 years$4,927$4,264$3,679$3,165$2,716$2,203
15 years$4,551$3,895$3,322$2,823$2,392$1,905
16 years$4,222$3,574$3,012$2,528$2,114$1,653
17 years$3,933$3,291$2,740$2,271$1,874$1,439
18 years$3,675$3,041$2,502$2,047$1,667$1,255
19 years$3,446$2,819$2,290$1,849$1,485$1,097
20 years$3,239$2,619$2,102$1,675$1,327$961
21 years$3,052$2,440$1,933$1,520$1,187$843
22 years$2,883$2,277$1,782$1,382$1,064$741
23 years$2,728$2,130$1,645$1,259$955$652
24 years$2,587$1,996$1,521$1,148$859$574
25 years$2,457$1,873$1,409$1,048$773$506
26 years$2,337$1,760$1,307$959$696$446
27 years$2,227$1,657$1,214$877$628$394
28 years$2,124$1,561$1,128$804$566$348
29 years$2,029$1,473$1,050$737$511$307
30 years$1,940$1,391$978$677$462$272
31 years$1,857$1,315$912$621$418$240
32 years$1,779$1,244$851$571$378$213
33 years$1,707$1,178$794$525$342$188
34 years$1,638$1,117$742$483$310$167
35 years$1,574$1,059$694$445$280$148
36 years$1,514$1,005$649$410$254$131
37 years$1,456$955$607$377$230$116
38 years$1,402$907$569$348$209$103
39 years$1,351$863$533$321$189$91
40 years$1,303$821$500$296$172$81
41 years$1,257$781$468$273$156$71
42 years$1,213$744$439$252$141$63
43 years$1,172$709$412$233$128$56
44 years$1,132$676$387$215$116$50
45 years$1,095$644$363$198$106$44
46 years$1,059$615$341$183$96$39
47 years$1,024$587$321$169$87$35
48 years$992$560$301$156$79$31
49 years$960$535$283$145$72$27
50 years$930$511$266$134$65$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $953,000, adding $5,856 every year, while hoping to spend $36,582 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: 45/28/27 Blend
58$953,000$953,000$953,000$953,000
59$1,056,246$1,005,737$990,966$1,095,307
60$1,125,061$1,016,096$985,240$1,133,964
61$1,199,668$1,025,735$978,097$1,171,884
62$1,280,620$1,034,583$969,449$1,212,301
63$1,368,525$1,042,559$959,208$1,255,467
64$1,464,051$1,049,580$947,277$1,301,664
65$1,567,932$1,055,558$933,559$1,351,202
66$1,680,978$1,060,397$917,950$1,404,425
67$1,804,077$1,063,996$900,341$1,461,715
68$1,938,209$1,066,248$880,618$1,523,493
69$2,084,451$1,067,038$858,664$1,590,229
70$2,243,989$1,066,247$834,353$1,662,439
71$2,418,128$1,063,746$807,556$1,740,697
72$2,608,304$1,059,397$778,136$1,825,637
73$2,816,100$1,053,056$745,953$1,917,962
74$3,043,256$1,044,569$710,856$2,018,448
75$3,291,689$1,033,774$672,691$2,127,956
76$3,563,510$1,020,498$631,294$2,247,435
77$3,861,043$1,004,557$586,498$2,377,937
78$4,186,847$985,758$538,123$2,520,626
79$4,543,740$963,895$485,985$2,676,786
80$4,934,827$938,750$429,890$2,847,839
81$5,363,524$910,094$369,636$3,035,356
82$5,833,596$877,682$305,012$3,241,073
83$6,349,191$841,256$235,798$3,466,910
84$6,914,874$800,543$161,762$3,714,986
85$7,535,675$755,254$82,666$3,987,645
86$8,217,136$705,083$0$4,287,475
87$8,965,360$649,708$0$4,617,836
88$9,787,070$588,788$0$5,006,833
89$10,689,673$521,960$0$5,434,190
90$11,681,328$448,844$0$5,903,842
91$12,771,022$369,036$0$6,420,126
92$13,968,659$282,111$0$6,987,828
93$15,285,146$187,619$0$7,612,224
94$16,732,504$85,085$0$8,299,135
95$18,323,972$0$0$9,054,978
96$20,074,141$0$0$9,894,840
97$21,999,081$0$0$10,847,531
98$24,116,503$0$0$11,895,613
99$26,445,918$0$0$13,048,761
100$29,008,823$0$0$14,317,634