Can I retire at age 59 with 953,000?

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 $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%11.1%
1 years$78,698$77,997$77,313$76,645$75,994$75,642
2 years$38,959$38,234$37,531$36,849$36,187$35,832
3 years$25,715$24,986$24,285$23,609$22,959$22,611
4 years$19,094$18,367$17,673$17,009$16,374$16,037
5 years$15,122$14,400$13,715$13,065$12,448$12,122
6 years$12,476$11,759$11,084$10,448$9,849$9,535
7 years$10,586$9,875$9,211$8,590$8,010$7,708
8 years$9,169$8,465$7,811$7,206$6,645$6,355
9 years$8,068$7,370$6,728$6,138$5,596$5,318
10 years$7,187$6,496$5,866$5,291$4,768$4,502
11 years$6,467$5,783$5,164$4,605$4,101$3,846
12 years$5,868$5,191$4,583$4,039$3,554$3,310
13 years$5,361$4,691$4,095$3,566$3,099$2,867
14 years$4,927$4,264$3,679$3,165$2,716$2,495
15 years$4,551$3,895$3,322$2,823$2,392$2,181
16 years$4,222$3,574$3,012$2,528$2,114$1,913
17 years$3,933$3,291$2,740$2,271$1,874$1,684
18 years$3,675$3,041$2,502$2,047$1,667$1,486
19 years$3,446$2,819$2,290$1,849$1,485$1,314
20 years$3,239$2,619$2,102$1,675$1,327$1,165
21 years$3,052$2,440$1,933$1,520$1,187$1,034
22 years$2,883$2,277$1,782$1,382$1,064$919
23 years$2,728$2,130$1,645$1,259$955$819
24 years$2,587$1,996$1,521$1,148$859$730
25 years$2,457$1,873$1,409$1,048$773$651
26 years$2,337$1,760$1,307$959$696$582
27 years$2,227$1,657$1,214$877$628$520
28 years$2,124$1,561$1,128$804$566$465
29 years$2,029$1,473$1,050$737$511$416
30 years$1,940$1,391$978$677$462$373
31 years$1,857$1,315$912$621$418$334
32 years$1,779$1,244$851$571$378$300
33 years$1,707$1,178$794$525$342$269
34 years$1,638$1,117$742$483$310$241
35 years$1,574$1,059$694$445$280$216
36 years$1,514$1,005$649$410$254$194
37 years$1,456$955$607$377$230$174
38 years$1,402$907$569$348$209$157
39 years$1,351$863$533$321$189$141
40 years$1,303$821$500$296$172$126
41 years$1,257$781$468$273$156$114
42 years$1,213$744$439$252$141$102
43 years$1,172$709$412$233$128$92
44 years$1,132$676$387$215$116$83
45 years$1,095$644$363$198$106$74
46 years$1,059$615$341$183$96$67
47 years$1,024$587$321$169$87$60
48 years$992$560$301$156$79$54
49 years$960$535$283$145$72$49
50 years$930$511$266$134$65$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $953,000, adding $6,294 every year, while hoping to spend $33,659 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: 77/10/13 Blend
58$953,000$953,000$953,000$953,000
59$1,056,698$1,006,189$991,418$1,134,832
60$1,128,669$1,019,680$988,817$1,200,682
61$1,206,852$1,032,703$985,002$1,267,976
62$1,291,846$1,045,201$979,895$1,340,824
63$1,384,309$1,057,111$973,416$1,419,767
64$1,484,966$1,068,366$965,482$1,505,401
65$1,594,612$1,078,896$956,006$1,598,384
66$1,714,125$1,088,624$944,895$1,699,439
67$1,844,469$1,097,470$932,052$1,809,363
68$1,986,707$1,105,348$917,378$1,929,036
69$2,142,008$1,112,167$900,766$2,059,425
70$2,311,657$1,117,828$882,107$2,201,597
71$2,497,073$1,122,228$861,284$2,356,728
72$2,699,814$1,125,257$838,177$2,526,115
73$2,921,599$1,126,798$812,659$2,711,185
74$3,164,316$1,126,725$784,598$2,913,511
75$3,430,050$1,124,908$753,855$3,134,828
76$3,721,092$1,121,206$720,286$3,377,048
77$4,039,967$1,115,469$683,740$3,642,278
78$4,389,457$1,107,540$644,058$3,932,838
79$4,772,623$1,097,250$601,075$4,251,288
80$5,192,838$1,084,423$554,619$4,600,449
81$5,653,817$1,068,870$504,509$4,983,429
82$6,159,653$1,050,391$450,556$5,403,653
83$6,714,852$1,028,774$392,564$5,864,898
84$7,324,379$1,003,797$330,327$6,371,327
85$7,993,703$975,220$263,631$6,927,525
86$8,728,849$942,794$192,250$7,538,548
87$9,536,453$906,252$115,952$8,209,970
88$10,423,826$865,313$34,491$8,947,931
89$11,399,023$819,680$0$9,759,202
90$12,470,917$769,038$0$10,658,516
91$13,649,283$713,054$0$11,652,401
92$14,944,893$651,376$0$12,745,170
93$16,369,611$583,633$0$13,946,853
94$17,936,511$509,431$0$15,268,500
95$19,659,997$428,355$0$16,722,291
96$21,555,938$339,966$0$18,321,646
97$23,641,820$243,800$0$20,081,351
98$25,936,908$139,368$0$22,017,705
99$28,462,429$26,153$0$24,148,663
100$31,241,771$0$0$26,494,016