Can I retire at age 59 with 957,000?

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 $957,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$79,028$78,324$77,637$76,967$76,313$74,437
2 years$39,123$38,394$37,688$37,003$36,339$34,462
3 years$25,823$25,091$24,387$23,708$23,055$21,234
4 years$19,174$18,445$17,747$17,081$16,443$14,692
5 years$15,186$14,461$13,773$13,120$12,500$10,824
6 years$12,528$11,808$11,130$10,492$9,891$8,292
7 years$10,630$9,917$9,249$8,626$8,044$6,522
8 years$9,208$8,500$7,844$7,236$6,673$5,227
9 years$8,102$7,401$6,756$6,164$5,620$4,249
10 years$7,217$6,524$5,890$5,313$4,788$3,491
11 years$6,494$5,808$5,186$4,624$4,118$2,893
12 years$5,892$5,213$4,602$4,056$3,569$2,413
13 years$5,383$4,711$4,112$3,581$3,112$2,024
14 years$4,947$4,282$3,694$3,178$2,728$1,704
15 years$4,570$3,912$3,336$2,835$2,402$1,441
16 years$4,240$3,589$3,024$2,538$2,123$1,222
17 years$3,949$3,305$2,752$2,280$1,882$1,039
18 years$3,691$3,054$2,512$2,055$1,674$885
19 years$3,460$2,831$2,300$1,857$1,492$755
20 years$3,253$2,630$2,111$1,682$1,332$645
21 years$3,065$2,450$1,941$1,526$1,192$552
22 years$2,895$2,287$1,789$1,388$1,069$473
23 years$2,740$2,139$1,652$1,264$959$405
24 years$2,598$2,004$1,528$1,153$862$348
25 years$2,467$1,881$1,415$1,053$776$299
26 years$2,347$1,768$1,312$963$699$257
27 years$2,236$1,663$1,219$881$630$221
28 years$2,133$1,568$1,133$807$569$190
29 years$2,037$1,479$1,054$740$513$163
30 years$1,948$1,397$982$679$464$140
31 years$1,865$1,320$916$624$419$121
32 years$1,787$1,249$854$573$379$104
33 years$1,714$1,183$798$527$343$90
34 years$1,645$1,121$745$485$311$77
35 years$1,581$1,063$697$447$282$66
36 years$1,520$1,009$652$411$255$57
37 years$1,463$959$610$379$231$49
38 years$1,408$911$571$349$210$42
39 years$1,357$866$535$322$190$37
40 years$1,308$824$502$297$172$32
41 years$1,262$785$470$274$156$27
42 years$1,218$747$441$253$142$23
43 years$1,177$712$414$234$129$20
44 years$1,137$679$389$216$117$17
45 years$1,099$647$365$199$106$15
46 years$1,063$617$343$184$96$13
47 years$1,029$589$322$170$88$11
48 years$996$562$303$157$79$10
49 years$964$537$284$145$72$8
50 years$934$513$267$134$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $957,000, adding $6,676 every year, while hoping to spend $38,980 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: 55/31/14 Blend
58$957,000$957,000$957,000$957,000
59$1,061,500$1,010,779$995,946$1,115,651
60$1,128,299$1,018,833$987,836$1,161,257
61$1,200,605$1,025,975$978,147$1,206,102
62$1,278,938$1,032,119$966,787$1,254,036
63$1,363,871$1,037,175$953,656$1,305,364
64$1,456,033$1,041,044$938,651$1,360,420
65$1,556,117$1,043,624$921,664$1,419,574
66$1,664,884$1,044,804$902,583$1,483,237
67$1,783,172$1,044,469$881,289$1,551,861
68$1,911,902$1,042,494$857,658$1,625,946
69$2,052,088$1,038,749$831,562$1,706,046
70$2,204,846$1,033,092$802,864$1,792,771
71$2,371,403$1,025,377$771,423$1,886,799
72$2,553,112$1,015,446$737,091$1,988,876
73$2,751,460$1,003,133$699,714$2,099,826
74$2,968,083$988,262$659,130$2,220,562
75$3,204,786$970,645$615,169$2,352,091
76$3,463,552$950,084$567,655$2,495,527
77$3,746,567$926,370$516,403$2,652,098
78$4,056,235$899,281$461,221$2,823,162
79$4,395,206$868,581$401,908$3,010,221
80$4,766,398$834,022$338,252$3,214,931
81$5,173,021$795,340$270,035$3,439,120
82$5,618,615$752,257$197,026$3,684,811
83$6,107,074$704,478$118,987$3,954,234
84$6,642,690$651,692$35,667$4,249,853
85$7,230,189$593,569$0$4,574,386
86$7,874,776$529,762$0$4,938,792
87$8,582,185$459,902$0$5,344,634
88$9,358,730$383,600$0$5,790,278
89$10,211,371$300,446$0$6,279,809
90$11,147,769$210,007$0$6,817,729
91$12,176,367$111,823$0$7,409,007
92$13,306,466$5,411$0$8,059,120
93$14,548,309$0$0$8,774,114
94$15,913,186$0$0$9,598,087
95$17,413,529$0$0$10,505,968
96$19,063,039$0$0$11,504,213
97$20,876,810$0$0$12,601,967
98$22,871,469$0$0$13,809,309
99$25,065,337$0$0$15,137,341
100$27,478,602$0$0$16,598,295