Can I retire at age 59 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$79,111$78,406$77,719$77,048$76,392$75,879
2 years$39,164$38,434$37,727$37,042$36,377$35,860
3 years$25,850$25,117$24,412$23,733$23,079$22,573
4 years$19,194$18,464$17,766$17,098$16,460$15,970
5 years$15,202$14,476$13,787$13,133$12,513$12,039
6 years$12,541$11,821$11,142$10,503$9,901$9,445
7 years$10,641$9,927$9,259$8,635$8,052$7,614
8 years$9,217$8,509$7,852$7,244$6,680$6,260
9 years$8,110$7,409$6,763$6,170$5,626$5,223
10 years$7,225$6,531$5,896$5,319$4,793$4,408
11 years$6,501$5,814$5,191$4,629$4,122$3,755
12 years$5,898$5,218$4,607$4,060$3,572$3,222
13 years$5,389$4,716$4,116$3,584$3,115$2,781
14 years$4,952$4,286$3,698$3,182$2,731$2,413
15 years$4,575$3,916$3,339$2,838$2,404$2,102
16 years$4,244$3,593$3,027$2,541$2,125$1,838
17 years$3,953$3,309$2,755$2,283$1,884$1,612
18 years$3,695$3,057$2,515$2,057$1,675$1,417
19 years$3,464$2,833$2,302$1,859$1,493$1,249
20 years$3,256$2,633$2,113$1,684$1,334$1,103
21 years$3,068$2,453$1,943$1,528$1,194$976
22 years$2,898$2,289$1,791$1,389$1,070$864
23 years$2,743$2,141$1,654$1,265$960$767
24 years$2,600$2,006$1,529$1,154$863$681
25 years$2,470$1,883$1,417$1,054$777$605
26 years$2,350$1,769$1,314$964$700$538
27 years$2,238$1,665$1,220$882$631$479
28 years$2,135$1,569$1,134$808$569$427
29 years$2,039$1,480$1,055$741$514$381
30 years$1,950$1,398$983$680$464$340
31 years$1,867$1,322$916$625$420$303
32 years$1,789$1,250$855$574$380$271
33 years$1,716$1,184$798$528$344$242
34 years$1,647$1,122$746$486$311$216
35 years$1,582$1,065$697$447$282$193
36 years$1,522$1,010$652$412$255$173
37 years$1,464$960$611$379$231$154
38 years$1,410$912$572$350$210$138
39 years$1,358$867$536$322$190$124
40 years$1,310$825$502$297$173$111
41 years$1,264$785$471$274$157$99
42 years$1,220$748$442$253$142$89
43 years$1,178$713$414$234$129$79
44 years$1,138$679$389$216$117$71
45 years$1,100$648$365$199$106$64
46 years$1,064$618$343$184$96$57
47 years$1,030$590$322$170$88$51
48 years$997$563$303$157$80$46
49 years$965$538$285$145$72$41
50 years$935$514$268$134$66$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $958,000, adding $6,102 every year, while hoping to spend $47,189 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: 51/39/10 Blend
58$958,000$958,000$958,000$958,000
59$1,062,010$1,011,236$996,387$1,113,086
60$1,120,127$1,010,578$979,557$1,147,948
61$1,182,589$1,008,306$960,582$1,180,280
62$1,249,792$1,004,291$939,340$1,214,333
63$1,322,166$998,397$915,704$1,250,280
64$1,400,186$990,478$889,539$1,288,315
65$1,484,375$980,381$860,708$1,328,653
66$1,575,303$967,942$829,064$1,371,535
67$1,673,602$952,989$794,455$1,417,228
68$1,779,961$935,337$756,722$1,466,029
69$1,895,143$914,794$715,697$1,518,270
70$2,019,982$891,154$671,208$1,574,319
71$2,155,398$864,198$623,071$1,634,583
72$2,302,401$833,697$571,097$1,699,518
73$2,462,105$799,407$515,088$1,769,628
74$2,635,731$761,069$454,835$1,845,475
75$2,824,626$718,412$390,122$1,927,680
76$3,030,270$671,146$320,723$2,016,934
77$3,254,291$618,966$246,401$2,114,003
78$3,498,483$561,550$166,910$2,219,739
79$3,764,819$498,556$81,991$2,335,083
80$4,055,470$429,625$0$2,461,081
81$4,372,826$354,375$0$2,599,814
82$4,719,520$272,404$0$2,761,040
83$5,098,447$183,288$0$2,937,456
84$5,512,796$86,577$0$3,130,670
85$5,966,081$0$0$3,342,463
86$6,462,166$0$0$3,582,613
87$7,005,309$0$0$3,886,319
88$7,600,199$0$0$4,219,059
89$8,251,999$0$0$4,583,733
90$8,966,395$0$0$4,983,535
91$9,749,649$0$0$5,421,983
92$10,608,658$0$0$5,902,952
93$11,551,020$0$0$6,430,709
94$12,585,101$0$0$7,009,955
95$13,720,118$0$0$7,645,869
96$14,966,225$0$0$8,344,155
97$16,334,603$0$0$9,111,096
98$17,837,574$0$0$9,953,613
99$19,488,709$0$0$10,879,333
100$21,302,957$0$0$11,896,655