Can I retire at age 59 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$78,946$78,242$77,556$76,887$76,233$74,000
2 years$39,082$38,354$37,649$36,965$36,301$34,070
3 years$25,796$25,065$24,361$23,684$23,031$20,871
4 years$19,154$18,425$17,729$17,063$16,426$14,354
5 years$15,170$14,446$13,758$13,106$12,487$10,508
6 years$12,515$11,796$11,119$10,481$9,880$7,997
7 years$10,619$9,906$9,240$8,617$8,035$6,247
8 years$9,198$8,491$7,836$7,228$6,666$4,972
9 years$8,093$7,393$6,749$6,157$5,614$4,013
10 years$7,210$6,517$5,884$5,307$4,783$3,272
11 years$6,488$5,802$5,180$4,619$4,114$2,691
12 years$5,886$5,207$4,597$4,052$3,565$2,227
13 years$5,378$4,706$4,107$3,577$3,109$1,852
14 years$4,942$4,277$3,691$3,175$2,725$1,547
15 years$4,565$3,908$3,332$2,832$2,399$1,297
16 years$4,235$3,585$3,021$2,535$2,121$1,090
17 years$3,945$3,302$2,749$2,278$1,880$919
18 years$3,687$3,051$2,509$2,053$1,672$776
19 years$3,456$2,828$2,297$1,855$1,490$656
20 years$3,249$2,628$2,108$1,680$1,331$556
21 years$3,062$2,447$1,939$1,525$1,191$471
22 years$2,892$2,285$1,787$1,386$1,068$400
23 years$2,737$2,137$1,650$1,263$958$340
24 years$2,595$2,002$1,526$1,152$861$289
25 years$2,465$1,879$1,414$1,052$775$245
26 years$2,345$1,766$1,311$962$698$209
27 years$2,234$1,662$1,217$880$630$178
28 years$2,131$1,566$1,132$806$568$151
29 years$2,035$1,477$1,053$740$513$129
30 years$1,946$1,395$981$679$463$110
31 years$1,863$1,319$915$623$419$94
32 years$1,785$1,248$853$573$379$80
33 years$1,712$1,182$797$527$343$68
34 years$1,644$1,120$744$485$311$58
35 years$1,579$1,062$696$446$281$49
36 years$1,518$1,008$651$411$255$42
37 years$1,461$958$609$379$231$36
38 years$1,407$910$571$349$209$31
39 years$1,356$865$535$322$190$26
40 years$1,307$823$501$297$172$22
41 years$1,261$784$470$274$156$19
42 years$1,217$746$441$253$142$16
43 years$1,175$711$414$233$129$14
44 years$1,136$678$388$215$117$12
45 years$1,098$646$365$199$106$10
46 years$1,062$617$342$184$96$9
47 years$1,028$589$322$170$87$7
48 years$995$562$302$157$79$6
49 years$963$537$284$145$72$5
50 years$933$513$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 $956,000, adding $5,933 every year, while hoping to spend $56,117 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: 53/29/18 Blend
58$956,000$956,000$956,000$956,000
59$1,059,632$1,008,964$994,146$1,110,312
60$1,108,006$998,695$967,742$1,135,420
61$1,159,434$986,042$938,572$1,156,322
62$1,214,167$970,829$906,485$1,177,836
63$1,272,482$952,870$871,323$1,200,040
64$1,334,681$931,966$832,918$1,223,017
65$1,401,095$907,909$791,097$1,246,867
66$1,472,087$880,477$745,679$1,271,700
67$1,548,055$849,435$696,474$1,297,641
68$1,629,435$814,535$643,284$1,324,833
69$1,716,704$775,515$585,901$1,353,438
70$1,810,389$732,096$524,110$1,383,637
71$1,911,065$683,986$457,684$1,415,635
72$2,019,365$630,872$386,387$1,449,664
73$2,135,982$572,427$309,974$1,485,983
74$2,261,680$508,303$228,185$1,524,885
75$2,397,295$438,134$140,753$1,566,697
76$2,543,748$361,531$47,397$1,611,787
77$2,702,050$278,086$0$1,660,566
78$2,873,313$187,365$0$1,723,527
79$3,058,757$88,913$0$1,801,520
80$3,259,726$0$0$1,886,070
81$3,477,697$0$0$1,983,549
82$3,714,293$0$0$2,120,235
83$3,971,301$0$0$2,268,796
84$4,250,685$0$0$2,430,376
85$4,554,608$0$0$2,606,239
86$4,885,446$0$0$2,797,770
87$5,245,818$0$0$3,006,496
88$5,638,602$0$0$3,234,098
89$6,066,969$0$0$3,482,426
90$6,534,405$0$0$3,753,514
91$7,044,751$0$0$4,049,603
92$7,602,233$0$0$4,373,160
93$8,211,504$0$0$4,726,900
94$8,877,687$0$0$5,113,814
95$9,606,422$0$0$5,537,193
96$10,403,919$0$0$6,000,663
97$11,277,016$0$0$6,508,215
98$12,233,244$0$0$7,064,245
99$13,280,896$0$0$7,673,594
100$14,429,103$0$0$8,341,594