Can I retire at age 59 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$79,358$78,652$77,962$77,289$76,631$73,913
2 years$39,286$38,555$37,846$37,158$36,491$33,781
3 years$25,931$25,196$24,489$23,808$23,152$20,535
4 years$19,254$18,522$17,821$17,152$16,512$14,009
5 years$15,249$14,521$13,830$13,174$12,552$10,170
6 years$12,580$11,858$11,177$10,536$9,932$7,672
7 years$10,675$9,958$9,288$8,662$8,077$5,939
8 years$9,246$8,536$7,877$7,266$6,701$4,682
9 years$8,135$7,432$6,784$6,189$5,643$3,742
10 years$7,248$6,551$5,915$5,335$4,808$3,021
11 years$6,522$5,832$5,207$4,643$4,135$2,458
12 years$5,917$5,234$4,621$4,073$3,584$2,013
13 years$5,406$4,730$4,129$3,596$3,125$1,656
14 years$4,968$4,300$3,710$3,192$2,739$1,368
15 years$4,589$3,928$3,349$2,847$2,412$1,134
16 years$4,258$3,604$3,037$2,549$2,132$943
17 years$3,966$3,319$2,763$2,290$1,890$785
18 years$3,706$3,067$2,523$2,064$1,681$655
19 years$3,474$2,842$2,309$1,865$1,498$547
20 years$3,266$2,641$2,119$1,689$1,338$458
21 years$3,078$2,460$1,949$1,533$1,197$383
22 years$2,907$2,297$1,797$1,394$1,073$321
23 years$2,751$2,148$1,659$1,269$963$269
24 years$2,609$2,012$1,534$1,158$866$226
25 years$2,478$1,889$1,421$1,057$779$190
26 years$2,357$1,775$1,318$967$702$159
27 years$2,245$1,670$1,224$885$633$134
28 years$2,142$1,574$1,138$811$571$113
29 years$2,046$1,485$1,059$743$516$95
30 years$1,956$1,402$986$682$466$80
31 years$1,873$1,326$919$627$421$67
32 years$1,794$1,254$858$576$381$56
33 years$1,721$1,188$801$530$345$47
34 years$1,652$1,126$748$487$312$40
35 years$1,587$1,068$700$449$283$34
36 years$1,526$1,014$654$413$256$28
37 years$1,469$963$613$381$232$24
38 years$1,414$915$574$351$211$20
39 years$1,363$870$537$323$191$17
40 years$1,314$828$504$298$173$14
41 years$1,268$788$472$275$157$12
42 years$1,223$750$443$254$143$10
43 years$1,182$715$416$235$129$8
44 years$1,142$681$390$217$117$7
45 years$1,104$650$366$200$107$6
46 years$1,068$620$344$185$97$5
47 years$1,033$592$323$171$88$4
48 years$1,000$565$304$158$80$4
49 years$968$539$286$146$72$3
50 years$938$515$269$135$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $961,000, adding $4,383 every year, while hoping to spend $23,301 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: 45/44/11 Blend
58$961,000$961,000$961,000$961,000
59$1,063,543$1,012,610$997,715$1,107,895
60$1,147,232$1,037,436$1,006,346$1,163,922
61$1,238,677$1,062,697$1,014,485$1,221,910
62$1,338,644$1,088,391$1,022,092$1,284,264
63$1,447,976$1,114,512$1,029,123$1,351,397
64$1,567,603$1,141,057$1,035,532$1,423,762
65$1,698,547$1,168,018$1,041,271$1,501,857
66$1,841,936$1,195,388$1,046,291$1,586,232
67$1,999,011$1,223,159$1,050,539$1,677,493
68$2,171,136$1,251,320$1,053,958$1,776,305
69$2,359,817$1,279,860$1,056,491$1,883,405
70$2,566,712$1,308,767$1,058,077$1,999,599
71$2,793,645$1,338,024$1,058,651$2,125,781
72$3,042,626$1,367,617$1,058,145$2,262,930
73$3,315,871$1,397,527$1,056,490$2,412,130
74$3,615,818$1,427,734$1,053,610$2,574,571
75$3,945,153$1,458,215$1,049,428$2,751,568
76$4,306,838$1,488,946$1,043,863$2,944,568
77$4,704,131$1,519,901$1,036,828$3,155,164
78$5,140,626$1,551,049$1,028,235$3,385,116
79$5,620,277$1,582,358$1,017,989$3,636,359
80$6,147,446$1,613,794$1,005,992$3,911,027
81$6,726,934$1,645,318$992,141$4,211,474
82$7,364,031$1,676,889$976,328$4,540,292
83$8,064,568$1,708,462$958,440$4,900,337
84$8,834,965$1,739,988$938,359$5,294,759
85$9,682,299$1,771,415$915,962$5,727,028
86$10,614,366$1,802,687$891,119$6,200,969
87$11,639,754$1,833,741$863,694$6,720,799
88$12,767,927$1,864,513$833,546$7,291,165
89$14,009,313$1,894,931$800,527$7,917,187
90$15,375,401$1,924,921$764,483$8,604,510
91$16,878,849$1,954,399$725,250$9,359,357
92$18,533,607$1,983,280$682,661$10,188,585
93$20,355,043$2,011,469$636,539$11,099,753
94$22,360,092$2,038,866$586,698$12,101,190
95$24,567,415$2,065,364$532,945$13,202,081
96$26,997,572$2,090,847$475,080$14,412,544
97$29,673,220$2,115,195$412,891$15,743,735
98$32,619,324$2,138,275$346,158$17,207,950
99$35,863,393$2,159,948$274,652$18,818,738
100$39,435,739$2,180,065$198,133$20,591,037