Can I retire at age 59 with 955,000?

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 $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$78,863$78,161$77,475$76,806$76,153$74,768
2 years$39,041$38,314$37,609$36,926$36,263$34,873
3 years$25,769$25,039$24,336$23,659$23,007$21,655
4 years$19,134$18,406$17,710$17,045$16,409$15,105
5 years$15,154$14,431$13,744$13,092$12,474$11,222
6 years$12,502$11,784$11,107$10,470$9,870$8,672
7 years$10,608$9,896$9,230$8,608$8,027$6,882
8 years$9,188$8,483$7,828$7,221$6,659$5,568
9 years$8,085$7,386$6,742$6,151$5,608$4,570
10 years$7,202$6,510$5,878$5,302$4,778$3,792
11 years$6,481$5,796$5,175$4,614$4,109$3,174
12 years$5,880$5,202$4,592$4,047$3,561$2,675
13 years$5,372$4,701$4,103$3,573$3,105$2,267
14 years$4,937$4,273$3,687$3,172$2,722$1,931
15 years$4,560$3,903$3,329$2,829$2,397$1,651
16 years$4,231$3,581$3,018$2,533$2,118$1,415
17 years$3,941$3,298$2,746$2,276$1,878$1,217
18 years$3,683$3,048$2,507$2,051$1,670$1,049
19 years$3,453$2,825$2,295$1,853$1,489$906
20 years$3,246$2,625$2,106$1,678$1,330$784
21 years$3,059$2,445$1,937$1,523$1,190$679
22 years$2,889$2,282$1,785$1,385$1,067$589
23 years$2,734$2,134$1,649$1,261$957$511
24 years$2,592$2,000$1,525$1,150$861$444
25 years$2,462$1,877$1,412$1,051$774$386
26 years$2,342$1,764$1,310$961$697$336
27 years$2,231$1,660$1,216$879$629$293
28 years$2,128$1,564$1,131$806$567$255
29 years$2,033$1,476$1,052$739$512$222
30 years$1,944$1,394$980$678$463$194
31 years$1,861$1,317$914$623$419$169
32 years$1,783$1,247$852$572$379$147
33 years$1,710$1,181$796$526$343$129
34 years$1,642$1,119$744$484$310$112
35 years$1,577$1,061$695$446$281$98
36 years$1,517$1,007$650$411$255$86
37 years$1,460$957$609$378$231$75
38 years$1,405$909$570$349$209$65
39 years$1,354$865$534$321$190$57
40 years$1,306$823$501$296$172$50
41 years$1,260$783$469$274$156$43
42 years$1,216$746$440$252$142$38
43 years$1,174$710$413$233$129$33
44 years$1,135$677$388$215$117$29
45 years$1,097$646$364$199$106$25
46 years$1,061$616$342$184$96$22
47 years$1,027$588$321$170$87$19
48 years$994$561$302$157$79$17
49 years$962$536$284$145$72$15
50 years$932$512$267$134$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $955,000, adding $3,698 every year, while hoping to spend $42,983 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: 75/5/20 Blend
58$955,000$955,000$955,000$955,000
59$1,056,224$1,005,609$990,807$1,130,187
60$1,118,226$1,009,151$978,265$1,183,268
61$1,185,111$1,011,425$963,863$1,235,814
62$1,257,332$1,012,325$947,492$1,292,296
63$1,335,387$1,011,736$929,040$1,353,094
64$1,419,822$1,009,537$908,389$1,418,632
65$1,511,239$1,005,599$885,415$1,489,372
66$1,610,298$999,786$859,990$1,565,828
67$1,717,726$991,953$831,977$1,648,565
68$1,834,322$981,947$801,236$1,738,206
69$1,960,964$969,603$767,618$1,835,437
70$2,098,619$954,751$730,971$1,941,019
71$2,248,351$937,206$691,131$2,055,785
72$2,411,329$916,775$647,930$2,180,658
73$2,588,840$893,253$601,191$2,316,656
74$2,782,302$866,423$550,731$2,464,900
75$2,993,273$836,054$496,357$2,626,626
76$3,223,469$801,902$437,867$2,803,198
77$3,474,779$763,712$375,052$2,996,121
78$3,749,282$721,209$307,691$3,207,054
79$4,049,266$674,106$235,556$3,437,826
80$4,377,252$622,097$158,408$3,690,454
81$4,736,014$564,862$75,997$3,967,164
82$5,128,606$502,059$0$4,270,408
83$5,558,392$433,329$0$4,605,442
84$6,029,077$358,291$0$4,990,171
85$6,544,739$276,543$0$5,411,711
86$7,109,871$187,662$0$5,873,752
87$7,729,419$91,199$0$6,380,358
88$8,408,833$0$0$6,936,009
89$9,154,114$0$0$7,546,370
90$9,971,873$0$0$8,221,633
91$10,869,390$0$0$8,962,798
92$11,854,686$0$0$9,776,491
93$12,936,596$0$0$10,670,015
94$14,124,851$0$0$11,651,413
95$15,430,174$0$0$12,729,544
96$16,864,373$0$0$13,914,171
97$18,440,462$0$0$15,216,044
98$20,172,773$0$0$16,647,012
99$22,077,098$0$0$18,220,124
100$24,170,836$0$0$19,949,761