Can I retire at age 59 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$79,606$78,897$78,205$77,530$76,871$75,165
2 years$39,409$38,675$37,964$37,274$36,605$34,896
3 years$26,012$25,275$24,565$23,882$23,224$21,564
4 years$19,314$18,579$17,877$17,206$16,563$14,966
5 years$15,297$14,567$13,873$13,215$12,591$11,060
6 years$12,620$11,895$11,212$10,569$9,963$8,500
7 years$10,708$9,989$9,317$8,689$8,103$6,709
8 years$9,275$8,563$7,902$7,289$6,722$5,396
9 years$8,161$7,455$6,806$6,209$5,661$4,402
10 years$7,270$6,571$5,933$5,352$4,823$3,630
11 years$6,542$5,850$5,224$4,658$4,148$3,020
12 years$5,935$5,251$4,636$4,085$3,595$2,529
13 years$5,423$4,745$4,142$3,607$3,135$2,129
14 years$4,984$4,313$3,721$3,202$2,748$1,801
15 years$4,603$3,940$3,360$2,855$2,419$1,529
16 years$4,271$3,615$3,046$2,557$2,138$1,302
17 years$3,978$3,329$2,772$2,297$1,896$1,111
18 years$3,718$3,076$2,530$2,070$1,686$951
19 years$3,485$2,851$2,317$1,871$1,503$815
20 years$3,276$2,650$2,126$1,694$1,342$700
21 years$3,088$2,468$1,955$1,538$1,201$601
22 years$2,916$2,304$1,802$1,398$1,077$518
23 years$2,760$2,155$1,664$1,273$966$446
24 years$2,617$2,019$1,539$1,161$869$384
25 years$2,485$1,894$1,425$1,061$782$332
26 years$2,364$1,781$1,322$970$704$286
27 years$2,252$1,676$1,228$888$635$247
28 years$2,149$1,579$1,141$813$573$214
29 years$2,052$1,490$1,062$746$517$185
30 years$1,962$1,407$989$684$467$160
31 years$1,878$1,330$922$629$422$138
32 years$1,800$1,258$860$578$382$120
33 years$1,726$1,192$803$531$346$103
34 years$1,657$1,129$751$489$313$90
35 years$1,592$1,071$702$450$284$77
36 years$1,531$1,017$657$414$257$67
37 years$1,473$966$614$382$233$58
38 years$1,419$918$575$352$211$50
39 years$1,367$873$539$324$191$44
40 years$1,318$830$505$299$174$38
41 years$1,271$790$474$276$158$33
42 years$1,227$753$444$255$143$28
43 years$1,185$717$417$235$130$25
44 years$1,145$684$392$217$118$21
45 years$1,107$652$368$201$107$18
46 years$1,071$622$345$185$97$16
47 years$1,036$593$324$171$88$14
48 years$1,003$567$305$158$80$12
49 years$972$541$287$146$73$10
50 years$941$517$269$135$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $964,000, adding $2,338 every year, while hoping to spend $33,619 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: 40/38/22 Blend
58$964,000$964,000$964,000$964,000
59$1,064,740$1,013,648$998,706$1,100,312
60$1,137,573$1,027,546$996,392$1,139,981
61$1,216,708$1,040,999$992,874$1,179,502
62$1,302,753$1,053,948$988,076$1,221,579
63$1,396,375$1,066,333$981,918$1,266,465
64$1,498,311$1,078,089$974,317$1,314,438
65$1,609,368$1,089,145$965,187$1,365,809
66$1,730,437$1,099,427$954,434$1,420,918
67$1,862,498$1,108,855$941,964$1,480,144
68$2,006,630$1,117,346$927,677$1,543,906
69$2,164,019$1,124,808$911,466$1,612,669
70$2,335,972$1,131,146$893,223$1,686,944
71$2,523,927$1,136,259$872,833$1,767,299
72$2,729,469$1,140,037$850,174$1,854,362
73$2,954,342$1,142,366$825,122$1,948,827
74$3,200,465$1,143,122$797,544$2,051,462
75$3,469,954$1,142,177$767,303$2,163,116
76$3,765,136$1,139,390$734,254$2,284,727
77$4,088,576$1,134,616$698,248$2,417,333
78$4,443,098$1,127,700$659,126$2,562,082
79$4,831,812$1,118,475$616,725$2,720,241
80$5,258,143$1,106,767$570,872$2,893,211
81$5,725,866$1,092,390$521,388$3,082,540
82$6,239,134$1,075,148$468,085$3,289,941
83$6,802,527$1,054,831$410,767$3,517,303
84$7,421,087$1,031,220$349,230$3,766,713
85$8,100,368$1,004,079$283,259$4,040,480
86$8,846,488$973,162$212,631$4,341,151
87$9,666,190$938,207$137,114$4,671,540
88$10,566,897$898,936$56,463$5,034,754
89$11,556,792$855,055$0$5,434,224
90$12,644,886$806,254$0$5,880,690
91$13,841,109$752,205$0$6,385,982
92$15,156,400$692,560$0$6,941,513
93$16,602,810$626,953$0$7,552,450
94$18,193,619$554,996$0$8,224,492
95$19,943,456$476,279$0$8,963,922
96$21,868,440$390,368$0$9,777,674
97$23,986,331$296,806$0$10,673,392
98$26,316,697$195,110$0$11,659,509
99$28,881,099$84,769$0$12,745,325
100$31,703,293$0$0$13,941,097