Can I retire at age 59 with 960,000?

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 $960,000?

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$79,276$78,570$77,881$77,208$76,552$74,671
2 years$39,245$38,515$37,806$37,119$36,453$34,570
3 years$25,904$25,170$24,463$23,783$23,127$21,300
4 years$19,234$18,502$17,803$17,134$16,495$14,738
5 years$15,234$14,506$13,816$13,161$12,539$10,858
6 years$12,567$11,845$11,165$10,525$9,922$8,318
7 years$10,664$9,948$9,278$8,653$8,069$6,542
8 years$9,236$8,527$7,869$7,259$6,694$5,244
9 years$8,127$7,424$6,777$6,183$5,637$4,262
10 years$7,240$6,544$5,909$5,330$4,803$3,502
11 years$6,515$5,826$5,202$4,638$4,131$2,902
12 years$5,911$5,229$4,617$4,068$3,580$2,420
13 years$5,400$4,725$4,125$3,592$3,122$2,030
14 years$4,963$4,295$3,706$3,188$2,736$1,710
15 years$4,584$3,924$3,346$2,844$2,409$1,445
16 years$4,253$3,600$3,034$2,546$2,129$1,226
17 years$3,961$3,316$2,760$2,288$1,888$1,042
18 years$3,702$3,064$2,520$2,062$1,679$887
19 years$3,471$2,839$2,307$1,863$1,496$757
20 years$3,263$2,639$2,117$1,687$1,337$647
21 years$3,075$2,458$1,947$1,531$1,196$554
22 years$2,904$2,294$1,795$1,392$1,072$474
23 years$2,748$2,146$1,657$1,268$962$407
24 years$2,606$2,010$1,533$1,156$865$349
25 years$2,475$1,887$1,420$1,056$778$300
26 years$2,354$1,773$1,317$966$701$257
27 years$2,243$1,669$1,223$884$632$221
28 years$2,140$1,572$1,136$810$570$190
29 years$2,044$1,483$1,058$743$515$164
30 years$1,954$1,401$985$682$465$141
31 years$1,871$1,324$918$626$421$121
32 years$1,792$1,253$857$575$381$104
33 years$1,719$1,187$800$529$344$90
34 years$1,650$1,125$748$487$312$77
35 years$1,586$1,067$699$448$282$67
36 years$1,525$1,013$654$413$256$57
37 years$1,467$962$612$380$232$49
38 years$1,413$914$573$350$210$43
39 years$1,361$869$537$323$191$37
40 years$1,312$827$503$298$173$32
41 years$1,266$787$472$275$157$27
42 years$1,222$750$443$254$142$23
43 years$1,180$714$415$234$129$20
44 years$1,141$681$390$216$117$17
45 years$1,103$649$366$200$106$15
46 years$1,067$619$344$185$97$13
47 years$1,032$591$323$170$88$11
48 years$999$564$304$158$80$10
49 years$967$539$285$146$72$8
50 years$937$515$268$135$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $960,000, adding $5,758 every year, while hoping to spend $24,094 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: 66/14/20 Blend
58$960,000$960,000$960,000$960,000
59$1,063,859$1,012,979$998,099$1,128,359
60$1,146,737$1,036,980$1,005,900$1,196,329
61$1,237,261$1,061,348$1,013,154$1,267,312
62$1,336,185$1,086,078$1,019,819$1,344,338
63$1,444,341$1,111,160$1,025,847$1,428,001
64$1,562,642$1,136,585$1,031,191$1,518,954
65$1,692,095$1,162,342$1,035,800$1,617,917
66$1,833,810$1,188,418$1,039,620$1,725,685
67$1,989,007$1,214,799$1,042,596$1,843,130
68$2,159,031$1,241,469$1,044,668$1,971,218
69$2,345,362$1,268,411$1,045,774$2,111,010
70$2,549,631$1,295,605$1,045,850$2,263,675
71$2,773,635$1,323,031$1,044,828$2,430,503
72$3,019,351$1,350,666$1,042,635$2,612,914
73$3,288,959$1,378,482$1,039,197$2,812,475
74$3,584,858$1,406,453$1,034,436$3,030,909
75$3,909,693$1,434,548$1,028,268$3,270,120
76$4,266,374$1,462,734$1,020,608$3,532,202
77$4,658,111$1,490,974$1,011,365$3,819,464
78$5,088,437$1,519,231$1,000,444$4,134,451
79$5,561,244$1,547,460$987,746$4,479,969
80$6,080,823$1,575,617$973,167$4,859,108
81$6,651,896$1,603,652$956,598$5,275,275
82$7,279,671$1,631,512$937,925$5,732,225
83$7,969,881$1,659,140$917,029$6,234,096
84$8,728,844$1,686,473$893,785$6,785,448
85$9,563,522$1,713,445$868,062$7,391,308
86$10,481,583$1,739,986$839,724$8,057,214
87$11,491,478$1,766,019$808,628$8,789,273
88$12,602,516$1,791,462$774,625$9,594,212
89$13,824,956$1,816,227$737,558$10,479,448
90$15,170,100$1,840,220$697,265$11,453,154
91$16,650,401$1,863,342$653,574$12,524,337
92$18,279,581$1,885,484$606,308$13,702,925
93$20,072,758$1,906,533$555,279$14,999,858
94$22,046,593$1,926,367$500,294$16,427,196
95$24,219,440$1,944,853$441,149$17,998,229
96$26,611,527$1,961,855$377,631$19,727,603
97$29,245,140$1,977,224$309,520$21,631,460
98$32,144,838$1,990,801$236,582$23,727,592
99$35,337,681$2,002,420$158,577$26,035,606
100$38,853,487$2,011,901$75,252$28,577,110