Can I retire at age 59 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$79,771$79,061$78,368$77,691$77,030$76,068
2 years$39,491$38,755$38,043$37,351$36,681$35,713
3 years$26,066$25,327$24,616$23,931$23,272$22,328
4 years$19,354$18,618$17,914$17,241$16,598$15,685
5 years$15,329$14,597$13,902$13,243$12,617$11,738
6 years$12,646$11,919$11,235$10,590$9,984$9,140
7 years$10,730$10,010$9,336$8,707$8,119$7,311
8 years$9,294$8,580$7,918$7,304$6,736$5,963
9 years$8,178$7,471$6,820$6,221$5,673$4,934
10 years$7,285$6,585$5,946$5,363$4,833$4,130
11 years$6,555$5,862$5,234$4,667$4,157$3,487
12 years$5,948$5,262$4,645$4,094$3,602$2,966
13 years$5,434$4,755$4,150$3,614$3,141$2,537
14 years$4,994$4,322$3,729$3,208$2,754$2,181
15 years$4,613$3,948$3,367$2,861$2,424$1,882
16 years$4,280$3,623$3,053$2,562$2,143$1,630
17 years$3,986$3,336$2,778$2,302$1,900$1,415
18 years$3,725$3,083$2,536$2,075$1,689$1,232
19 years$3,493$2,857$2,321$1,874$1,506$1,075
20 years$3,283$2,655$2,130$1,698$1,345$940
21 years$3,094$2,473$1,960$1,541$1,204$823
22 years$2,922$2,308$1,806$1,401$1,079$721
23 years$2,766$2,159$1,668$1,276$968$633
24 years$2,622$2,023$1,542$1,164$870$556
25 years$2,490$1,898$1,428$1,063$783$489
26 years$2,369$1,784$1,325$972$706$430
27 years$2,257$1,679$1,230$889$636$379
28 years$2,153$1,582$1,144$815$574$334
29 years$2,056$1,493$1,064$747$518$294
30 years$1,966$1,410$991$686$468$259
31 years$1,882$1,333$924$630$423$229
32 years$1,804$1,261$862$579$383$202
33 years$1,730$1,194$805$532$347$178
34 years$1,661$1,132$752$490$314$158
35 years$1,596$1,073$703$451$284$139
36 years$1,534$1,019$658$415$258$123
37 years$1,476$968$616$383$233$109
38 years$1,422$920$577$353$212$96
39 years$1,370$874$540$325$192$85
40 years$1,321$832$506$300$174$75
41 years$1,274$792$475$277$158$66
42 years$1,230$754$445$255$143$59
43 years$1,188$719$418$236$130$52
44 years$1,148$685$392$218$118$46
45 years$1,110$653$368$201$107$41
46 years$1,073$623$346$186$97$36
47 years$1,038$595$325$172$88$32
48 years$1,005$568$305$159$80$28
49 years$974$542$287$146$73$25
50 years$943$518$270$135$66$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $966,000, adding $2,691 every year, while hoping to spend $55,306 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: 58/18/24 Blend
58$966,000$966,000$966,000$966,000
59$1,067,308$1,016,110$1,001,137$1,122,153
60$1,117,328$1,007,054$975,830$1,150,822
61$1,170,597$995,701$947,821$1,175,919
62$1,227,387$981,879$916,962$1,202,098
63$1,287,997$965,408$883,098$1,229,478
64$1,352,755$946,096$846,064$1,258,191
65$1,422,021$923,739$805,691$1,288,387
66$1,496,186$898,122$761,802$1,320,231
67$1,575,684$869,017$714,209$1,353,913
68$1,660,988$836,182$662,719$1,389,639
69$1,752,617$799,363$607,128$1,427,644
70$1,851,142$758,290$547,224$1,468,190
71$1,957,188$712,676$482,787$1,511,566
72$2,071,444$662,220$413,583$1,558,100
73$2,194,665$606,603$339,371$1,608,153
74$2,327,680$545,486$259,900$1,662,130
75$2,471,402$478,512$174,904$1,720,480
76$2,626,831$405,306$84,110$1,783,705
77$2,795,069$325,467$0$1,852,363
78$2,977,328$238,576$0$1,930,346
79$3,174,937$144,189$0$2,038,271
80$3,389,361$41,834$0$2,155,421
81$3,622,209$0$0$2,282,731
82$3,875,253$0$0$2,434,897
83$4,150,440$0$0$2,609,462
84$4,449,913$0$0$2,799,508
85$4,776,030$0$0$3,006,542
86$5,131,387$0$0$3,232,219
87$5,518,838$0$0$3,478,364
88$5,941,527$0$0$3,746,985
89$6,402,912$0$0$4,040,290
90$6,906,803$0$0$4,360,713
91$7,457,390$0$0$4,710,930
92$8,059,290$0$0$5,093,891
93$8,717,582$0$0$5,512,840
94$9,437,862$0$0$5,971,353
95$10,226,289$0$0$6,473,364
96$11,089,648$0$0$7,023,208
97$12,035,408$0$0$7,625,657
98$13,071,796$0$0$8,285,968
99$14,207,872$0$0$9,009,929
100$15,453,615$0$0$9,803,916