Can I retire at age 59 with 960,000?

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 $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%13.3%
1 years$79,276$78,570$77,881$77,208$76,552$75,501
2 years$39,245$38,515$37,806$37,119$36,453$35,397
3 years$25,904$25,170$24,463$23,783$23,127$22,098
4 years$19,234$18,502$17,803$17,134$16,495$15,500
5 years$15,234$14,506$13,816$13,161$12,539$11,582
6 years$12,567$11,845$11,165$10,525$9,922$9,003
7 years$10,664$9,948$9,278$8,653$8,069$7,190
8 years$9,236$8,527$7,869$7,259$6,694$5,854
9 years$8,127$7,424$6,777$6,183$5,637$4,836
10 years$7,240$6,544$5,909$5,330$4,803$4,040
11 years$6,515$5,826$5,202$4,638$4,131$3,405
12 years$5,911$5,229$4,617$4,068$3,580$2,890
13 years$5,400$4,725$4,125$3,592$3,122$2,467
14 years$4,963$4,295$3,706$3,188$2,736$2,117
15 years$4,584$3,924$3,346$2,844$2,409$1,823
16 years$4,253$3,600$3,034$2,546$2,129$1,576
17 years$3,961$3,316$2,760$2,288$1,888$1,365
18 years$3,702$3,064$2,520$2,062$1,679$1,186
19 years$3,471$2,839$2,307$1,863$1,496$1,033
20 years$3,263$2,639$2,117$1,687$1,337$901
21 years$3,075$2,458$1,947$1,531$1,196$787
22 years$2,904$2,294$1,795$1,392$1,072$688
23 years$2,748$2,146$1,657$1,268$962$602
24 years$2,606$2,010$1,533$1,156$865$528
25 years$2,475$1,887$1,420$1,056$778$463
26 years$2,354$1,773$1,317$966$701$407
27 years$2,243$1,669$1,223$884$632$357
28 years$2,140$1,572$1,136$810$570$314
29 years$2,044$1,483$1,058$743$515$276
30 years$1,954$1,401$985$682$465$243
31 years$1,871$1,324$918$626$421$214
32 years$1,792$1,253$857$575$381$188
33 years$1,719$1,187$800$529$344$166
34 years$1,650$1,125$748$487$312$146
35 years$1,586$1,067$699$448$282$129
36 years$1,525$1,013$654$413$256$113
37 years$1,467$962$612$380$232$100
38 years$1,413$914$573$350$210$88
39 years$1,361$869$537$323$191$78
40 years$1,312$827$503$298$173$68
41 years$1,266$787$472$275$157$60
42 years$1,222$750$443$254$142$53
43 years$1,180$714$415$234$129$47
44 years$1,141$681$390$216$117$41
45 years$1,103$649$366$200$106$37
46 years$1,067$619$344$185$97$32
47 years$1,032$591$323$170$88$28
48 years$999$564$304$158$80$25
49 years$967$539$285$146$72$22
50 years$937$515$268$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $960,000, adding $4,872 every year, while hoping to spend $39,039 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: 39/47/14 Blend
58$960,000$960,000$960,000$960,000
59$1,062,945$1,012,065$997,185$1,099,755
60$1,129,829$1,020,119$989,054$1,134,437
61$1,202,226$1,027,260$979,342$1,167,755
62$1,280,657$1,033,400$967,954$1,202,935
63$1,365,697$1,038,449$954,793$1,240,162
64$1,457,975$1,042,310$939,756$1,279,646
65$1,558,184$1,044,879$922,733$1,321,617
66$1,667,086$1,046,045$903,612$1,366,332
67$1,785,520$1,045,693$882,274$1,414,078
68$1,914,409$1,043,697$858,596$1,465,172
69$2,054,767$1,039,927$832,448$1,519,967
70$2,207,713$1,034,243$803,694$1,578,853
71$2,374,474$1,026,496$772,193$1,642,267
72$2,556,405$1,016,529$737,796$1,710,691
73$2,754,995$1,004,175$700,349$1,784,660
74$2,971,883$989,258$659,688$1,864,768
75$3,208,873$971,590$615,646$1,951,675
76$3,467,953$950,972$568,045$2,046,110
77$3,751,310$927,196$516,700$2,148,885
78$4,061,352$900,037$461,419$2,260,896
79$4,400,732$869,261$401,998$2,383,138
80$4,772,371$834,619$338,229$2,516,713
81$5,179,483$795,846$269,890$2,662,842
82$5,625,611$752,663$196,753$2,822,876
83$6,114,656$704,776$118,577$2,998,311
84$6,650,913$651,873$35,111$3,190,805
85$7,239,115$593,622$0$3,402,189
86$7,884,471$529,677$0$3,642,553
87$8,592,724$459,668$0$3,912,203
88$9,370,195$383,205$0$4,208,413
89$10,223,851$299,877$0$4,533,974
90$11,161,363$209,251$0$4,891,968
91$12,191,183$110,865$0$5,285,801
92$13,322,623$4,237$0$5,719,236
93$14,565,941$0$0$6,196,429
94$15,932,435$0$0$6,779,454
95$17,434,556$0$0$7,422,894
96$19,086,019$0$0$8,130,450
97$20,901,936$0$0$8,908,616
98$22,898,954$0$0$9,764,544
99$25,095,416$0$0$10,706,115
100$27,511,531$0$0$11,742,012