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%
1 years$79,276$78,570$77,881$77,208$76,552$74,641
2 years$39,245$38,515$37,806$37,119$36,453$34,540
3 years$25,904$25,170$24,463$23,783$23,127$21,272
4 years$19,234$18,502$17,803$17,134$16,495$14,711
5 years$15,234$14,506$13,816$13,161$12,539$10,832
6 years$12,567$11,845$11,165$10,525$9,922$8,293
7 years$10,664$9,948$9,278$8,653$8,069$6,519
8 years$9,236$8,527$7,869$7,259$6,694$5,222
9 years$8,127$7,424$6,777$6,183$5,637$4,242
10 years$7,240$6,544$5,909$5,330$4,803$3,484
11 years$6,515$5,826$5,202$4,638$4,131$2,885
12 years$5,911$5,229$4,617$4,068$3,580$2,405
13 years$5,400$4,725$4,125$3,592$3,122$2,015
14 years$4,963$4,295$3,706$3,188$2,736$1,696
15 years$4,584$3,924$3,346$2,844$2,409$1,433
16 years$4,253$3,600$3,034$2,546$2,129$1,214
17 years$3,961$3,316$2,760$2,288$1,888$1,031
18 years$3,702$3,064$2,520$2,062$1,679$878
19 years$3,471$2,839$2,307$1,863$1,496$749
20 years$3,263$2,639$2,117$1,687$1,337$639
21 years$3,075$2,458$1,947$1,531$1,196$547
22 years$2,904$2,294$1,795$1,392$1,072$468
23 years$2,748$2,146$1,657$1,268$962$401
24 years$2,606$2,010$1,533$1,156$865$344
25 years$2,475$1,887$1,420$1,056$778$295
26 years$2,354$1,773$1,317$966$701$253
27 years$2,243$1,669$1,223$884$632$217
28 years$2,140$1,572$1,136$810$570$187
29 years$2,044$1,483$1,058$743$515$160
30 years$1,954$1,401$985$682$465$138
31 years$1,871$1,324$918$626$421$119
32 years$1,792$1,253$857$575$381$102
33 years$1,719$1,187$800$529$344$88
34 years$1,650$1,125$748$487$312$76
35 years$1,586$1,067$699$448$282$65
36 years$1,525$1,013$654$413$256$56
37 years$1,467$962$612$380$232$48
38 years$1,413$914$573$350$210$41
39 years$1,361$869$537$323$191$36
40 years$1,312$827$503$298$173$31
41 years$1,266$787$472$275$157$26
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$9
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 $6,041 every year, while hoping to spend $24,314 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: 36/49/15 Blend
58$960,000$960,000$960,000$960,000
59$1,064,151$1,013,271$998,391$1,097,368
60$1,146,825$1,037,052$1,005,967$1,145,674
61$1,237,116$1,061,182$1,012,983$1,195,039
62$1,335,777$1,085,655$1,019,392$1,247,808
63$1,443,633$1,110,460$1,025,149$1,304,296
64$1,561,597$1,135,585$1,030,205$1,364,852
65$1,690,671$1,161,020$1,034,508$1,429,860
66$1,831,958$1,186,749$1,038,003$1,499,741
67$1,986,676$1,212,757$1,040,633$1,574,961
68$2,156,161$1,239,027$1,042,340$1,656,033
69$2,341,891$1,265,540$1,043,059$1,743,524
70$2,545,487$1,292,275$1,042,724$1,838,056
71$2,768,739$1,319,208$1,041,268$1,940,316
72$3,013,616$1,346,316$1,038,616$2,051,061
73$3,282,288$1,373,569$1,034,693$2,171,127
74$3,577,146$1,400,938$1,029,420$2,301,433
75$3,900,821$1,428,390$1,022,711$2,442,995
76$4,256,213$1,455,889$1,014,481$2,596,930
77$4,646,516$1,483,398$1,004,636$2,764,473
78$5,075,250$1,510,873$993,080$2,946,983
79$5,546,291$1,538,271$979,714$3,145,958
80$6,063,909$1,565,543$964,430$3,363,053
81$6,632,809$1,592,635$947,120$3,600,088
82$7,258,173$1,619,492$927,666$3,859,075
83$7,945,712$1,646,053$905,948$4,142,227
84$8,701,718$1,672,253$881,840$4,451,988
85$9,533,120$1,698,020$855,209$4,791,051
86$10,447,556$1,723,281$825,917$5,162,386
87$11,453,440$1,747,954$793,817$5,569,266
88$12,560,040$1,771,954$758,760$6,015,302
89$13,777,573$1,795,188$720,587$6,504,474
90$15,117,290$1,817,557$679,131$7,041,169
91$16,591,592$1,838,956$634,221$7,630,227
92$18,214,142$1,859,272$585,674$8,276,982
93$19,999,993$1,878,385$533,303$8,987,315
94$21,965,733$1,896,167$476,910$9,767,710
95$24,129,640$1,912,481$416,288$10,625,317
96$26,511,852$1,927,182$351,223$11,568,016
97$29,134,561$1,940,114$281,489$12,604,498
98$32,022,219$1,951,112$206,852$13,744,341
99$35,201,771$1,960,002$127,066$14,998,107
100$38,702,905$1,966,595$41,876$16,377,439