Can I retire at age 59 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$79,441$78,733$78,043$77,369$76,711$76,292
2 years$39,327$38,595$37,885$37,197$36,529$36,106
3 years$25,958$25,222$24,514$23,832$23,176$22,762
4 years$19,274$18,541$17,840$17,170$16,529$16,128
5 years$15,265$14,536$13,845$13,188$12,565$12,177
6 years$12,593$11,870$11,188$10,547$9,942$9,569
7 years$10,686$9,968$9,298$8,671$8,086$7,727
8 years$9,256$8,545$7,885$7,274$6,708$6,363
9 years$8,144$7,440$6,791$6,196$5,649$5,319
10 years$7,255$6,558$5,921$5,341$4,813$4,497
11 years$6,528$5,838$5,213$4,648$4,140$3,837
12 years$5,923$5,240$4,626$4,077$3,587$3,298
13 years$5,411$4,735$4,133$3,599$3,128$2,853
14 years$4,973$4,304$3,714$3,195$2,742$2,480
15 years$4,594$3,932$3,353$2,849$2,414$2,165
16 years$4,262$3,608$3,040$2,551$2,134$1,897
17 years$3,970$3,322$2,766$2,292$1,892$1,667
18 years$3,710$3,070$2,525$2,066$1,682$1,469
19 years$3,478$2,845$2,312$1,867$1,499$1,297
20 years$3,270$2,644$2,122$1,691$1,339$1,148
21 years$3,081$2,463$1,951$1,534$1,199$1,018
22 years$2,910$2,299$1,799$1,395$1,074$904
23 years$2,754$2,150$1,661$1,271$964$803
24 years$2,611$2,015$1,536$1,159$867$715
25 years$2,480$1,891$1,422$1,058$780$637
26 years$2,359$1,777$1,319$968$703$568
27 years$2,248$1,672$1,225$886$633$507
28 years$2,144$1,576$1,139$812$572$453
29 years$2,048$1,486$1,060$744$516$405
30 years$1,958$1,404$987$683$466$362
31 years$1,875$1,327$920$627$422$324
32 years$1,796$1,256$859$576$381$290
33 years$1,723$1,189$802$530$345$259
34 years$1,654$1,127$749$488$312$232
35 years$1,589$1,069$700$449$283$208
36 years$1,528$1,015$655$414$256$187
37 years$1,470$964$613$381$232$167
38 years$1,416$916$574$351$211$150
39 years$1,364$871$538$324$191$135
40 years$1,315$829$504$299$173$121
41 years$1,269$789$473$276$157$108
42 years$1,225$751$444$254$143$97
43 years$1,183$716$416$235$129$87
44 years$1,143$682$391$217$118$78
45 years$1,105$651$367$200$107$70
46 years$1,069$621$345$185$97$63
47 years$1,034$592$324$171$88$57
48 years$1,001$565$304$158$80$51
49 years$969$540$286$146$73$46
50 years$939$516$269$135$66$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $962,000, adding $3,053 every year, while hoping to spend $44,843 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: 71/5/24 Blend
58$962,000$962,000$962,000$962,000
59$1,063,273$1,012,287$997,376$1,132,149
60$1,124,014$1,014,177$983,076$1,180,443
61$1,189,448$1,014,656$966,793$1,227,751
62$1,260,006$1,013,608$948,415$1,278,472
63$1,336,162$1,010,910$927,822$1,332,941
64$1,418,436$1,006,430$904,889$1,391,527
65$1,507,401$1,000,029$879,487$1,454,639
66$1,603,684$991,560$851,479$1,522,728
67$1,707,979$980,865$820,722$1,596,290
68$1,821,044$967,778$787,068$1,675,875
69$1,943,716$952,125$750,360$1,762,090
70$2,076,913$933,717$710,435$1,855,602
71$2,221,647$912,358$667,124$1,957,152
72$2,379,030$887,838$620,247$2,067,553
73$2,550,285$859,937$569,620$2,187,706
74$2,736,759$828,419$515,047$2,318,605
75$2,939,934$793,036$456,326$2,461,344
76$3,161,438$753,526$393,244$2,617,133
77$3,403,068$709,612$325,581$2,787,307
78$3,666,798$661,000$253,105$2,973,339
79$3,954,801$607,379$175,574$3,176,853
80$4,269,472$548,421$92,736$3,399,643
81$4,613,444$483,780$4,329$3,643,686
82$4,989,619$413,089$0$3,911,166
83$5,401,190$335,960$0$4,227,541
84$5,851,674$251,985$0$4,575,098
85$6,344,943$160,731$0$4,955,733
86$6,885,263$61,743$0$5,372,759
87$7,477,329$0$0$5,829,825
88$8,126,314$0$0$6,333,451
89$8,837,913$0$0$6,889,441
90$9,618,402$0$0$7,499,307
91$10,474,689$0$0$8,168,454
92$11,414,386$0$0$8,902,837
93$12,445,878$0$0$9,709,015
94$13,578,400$0$0$10,594,212
95$14,822,125$0$0$11,566,389
96$16,188,259$0$0$12,634,312
97$17,689,149$0$0$13,807,639
98$19,338,395$0$0$15,097,012
99$21,150,980$0$0$16,514,152
100$23,143,411$0$0$18,071,974