Can I retire at age 59 with 954,000?

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 $954,000?

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$78,780$78,079$77,394$76,726$76,073$73,905
2 years$39,000$38,274$37,570$36,887$36,225$34,057
3 years$25,742$25,012$24,310$23,634$22,983$20,884
4 years$19,114$18,387$17,692$17,027$16,392$14,377
5 years$15,138$14,415$13,729$13,078$12,461$10,536
6 years$12,489$11,771$11,095$10,459$9,860$8,027
7 years$10,597$9,886$9,220$8,599$8,019$6,278
8 years$9,179$8,474$7,820$7,213$6,652$5,003
9 years$8,076$7,378$6,735$6,144$5,602$4,042
10 years$7,195$6,503$5,872$5,296$4,773$3,300
11 years$6,474$5,789$5,169$4,609$4,105$2,717
12 years$5,874$5,196$4,588$4,043$3,557$2,252
13 years$5,366$4,696$4,099$3,569$3,102$1,876
14 years$4,932$4,268$3,683$3,169$2,719$1,569
15 years$4,556$3,899$3,325$2,826$2,394$1,317
16 years$4,227$3,578$3,015$2,530$2,116$1,109
17 years$3,937$3,295$2,743$2,273$1,876$936
18 years$3,679$3,045$2,504$2,049$1,668$791
19 years$3,449$2,822$2,292$1,851$1,487$670
20 years$3,242$2,622$2,104$1,677$1,328$568
21 years$3,055$2,442$1,935$1,522$1,189$483
22 years$2,886$2,280$1,784$1,384$1,065$410
23 years$2,731$2,132$1,647$1,260$956$349
24 years$2,590$1,998$1,523$1,149$860$297
25 years$2,460$1,875$1,411$1,050$774$253
26 years$2,340$1,762$1,308$960$697$216
27 years$2,229$1,658$1,215$878$628$184
28 years$2,126$1,563$1,129$805$567$157
29 years$2,031$1,474$1,051$738$512$134
30 years$1,942$1,392$979$677$462$114
31 years$1,859$1,316$913$622$418$97
32 years$1,781$1,245$852$572$378$83
33 years$1,708$1,179$795$526$342$71
34 years$1,640$1,118$743$484$310$61
35 years$1,576$1,060$695$445$281$52
36 years$1,515$1,006$650$410$254$44
37 years$1,458$956$608$378$230$38
38 years$1,404$908$569$348$209$32
39 years$1,353$864$534$321$189$28
40 years$1,304$822$500$296$172$24
41 years$1,258$782$469$273$156$20
42 years$1,215$745$440$252$141$17
43 years$1,173$710$413$233$128$15
44 years$1,133$677$387$215$117$13
45 years$1,096$645$364$199$106$11
46 years$1,060$615$342$183$96$9
47 years$1,026$587$321$169$87$8
48 years$993$561$302$157$79$7
49 years$961$535$284$145$72$6
50 years$931$511$267$134$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $954,000, adding $5,049 every year, while hoping to spend $42,870 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: 59/20/21 Blend
58$954,000$954,000$954,000$954,000
59$1,056,516$1,005,954$991,167$1,112,692
60$1,118,667$1,009,632$978,758$1,155,094
61$1,185,721$1,012,054$964,496$1,196,214
62$1,258,133$1,013,113$948,274$1,240,110
63$1,336,401$1,012,694$929,981$1,287,058
64$1,421,076$1,010,678$909,497$1,337,365
65$1,512,761$1,006,937$886,701$1,391,370
66$1,612,121$1,001,335$861,463$1,449,447
67$1,719,884$993,727$833,649$1,512,014
68$1,836,854$983,961$803,118$1,579,527
69$1,963,913$971,876$769,722$1,652,497
70$2,102,033$957,298$733,309$1,731,485
71$2,252,282$940,048$693,716$1,817,113
72$2,415,835$919,931$650,777$1,910,067
73$2,593,987$896,743$604,313$2,011,109
74$2,788,159$870,269$554,144$2,121,079
75$2,999,919$840,280$500,075$2,240,905
76$3,230,990$806,533$441,907$2,371,615
77$3,483,271$768,773$379,431$2,514,343
78$3,758,850$726,728$312,427$2,670,343
79$4,060,027$680,112$240,668$2,841,002
80$4,389,334$628,622$163,914$3,027,849
81$4,749,558$571,937$81,918$3,232,577
82$5,143,770$509,719$0$3,457,054
83$5,575,348$441,609$0$3,704,596
84$6,048,016$367,230$0$3,995,899
85$6,565,871$286,181$0$4,315,171
86$7,133,427$198,042$0$4,665,256
87$7,755,656$102,365$0$5,049,293
88$8,438,032$0$0$5,470,743
89$9,186,587$0$0$5,933,712
90$10,007,963$0$0$6,466,518
91$10,909,476$0$0$7,051,390
92$11,899,185$0$0$7,693,564
93$12,985,968$0$0$8,398,813
94$14,179,605$0$0$9,173,493
95$15,490,868$0$0$10,024,607
96$16,931,626$0$0$10,959,871
97$18,514,953$0$0$11,987,784
98$20,255,253$0$0$13,117,708
99$22,168,394$0$0$14,359,961
100$24,271,860$0$0$15,725,907