Can I retire at age 59 with 966,000?

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 $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%14.8%
1 years$79,771$79,061$78,368$77,691$77,030$75,506
2 years$39,491$38,755$38,043$37,351$36,681$35,152
3 years$26,066$25,327$24,616$23,931$23,272$21,785
4 years$19,354$18,618$17,914$17,241$16,598$15,165
5 years$15,329$14,597$13,902$13,243$12,617$11,243
6 years$12,646$11,919$11,235$10,590$9,984$8,669
7 years$10,730$10,010$9,336$8,707$8,119$6,865
8 years$9,294$8,580$7,918$7,304$6,736$5,541
9 years$8,178$7,471$6,820$6,221$5,673$4,537
10 years$7,285$6,585$5,946$5,363$4,833$3,755
11 years$6,555$5,862$5,234$4,667$4,157$3,135
12 years$5,948$5,262$4,645$4,094$3,602$2,636
13 years$5,434$4,755$4,150$3,614$3,141$2,228
14 years$4,994$4,322$3,729$3,208$2,754$1,892
15 years$4,613$3,948$3,367$2,861$2,424$1,613
16 years$4,280$3,623$3,053$2,562$2,143$1,380
17 years$3,986$3,336$2,778$2,302$1,900$1,183
18 years$3,725$3,083$2,536$2,075$1,689$1,016
19 years$3,493$2,857$2,321$1,874$1,506$875
20 years$3,283$2,655$2,130$1,698$1,345$755
21 years$3,094$2,473$1,960$1,541$1,204$652
22 years$2,922$2,308$1,806$1,401$1,079$563
23 years$2,766$2,159$1,668$1,276$968$488
24 years$2,622$2,023$1,542$1,164$870$422
25 years$2,490$1,898$1,428$1,063$783$366
26 years$2,369$1,784$1,325$972$706$318
27 years$2,257$1,679$1,230$889$636$276
28 years$2,153$1,582$1,144$815$574$239
29 years$2,056$1,493$1,064$747$518$208
30 years$1,966$1,410$991$686$468$181
31 years$1,882$1,333$924$630$423$157
32 years$1,804$1,261$862$579$383$137
33 years$1,730$1,194$805$532$347$119
34 years$1,661$1,132$752$490$314$103
35 years$1,596$1,073$703$451$284$90
36 years$1,534$1,019$658$415$258$78
37 years$1,476$968$616$383$233$68
38 years$1,422$920$577$353$212$59
39 years$1,370$874$540$325$192$52
40 years$1,321$832$506$300$174$45
41 years$1,274$792$475$277$158$39
42 years$1,230$754$445$255$143$34
43 years$1,188$719$418$236$130$30
44 years$1,148$685$392$218$118$26
45 years$1,110$653$368$201$107$22
46 years$1,073$623$346$186$97$20
47 years$1,038$595$325$172$88$17
48 years$1,005$568$305$159$80$15
49 years$974$542$287$146$73$13
50 years$943$518$270$135$66$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $966,000, adding $4,154 every year, while hoping to spend $26,871 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: 35/44/21 Blend
58$966,000$966,000$966,000$966,000
59$1,068,817$1,017,619$1,002,646$1,099,269
60$1,149,246$1,038,892$1,007,644$1,143,307
61$1,236,978$1,060,306$1,011,909$1,188,013
62$1,332,729$1,081,841$1,015,388$1,235,699
63$1,437,289$1,103,473$1,018,025$1,286,646
64$1,551,526$1,125,176$1,019,762$1,341,165
65$1,676,395$1,146,924$1,020,538$1,399,599
66$1,812,950$1,168,685$1,020,288$1,462,325
67$1,962,348$1,190,428$1,018,945$1,529,762
68$2,125,865$1,212,117$1,016,437$1,602,369
69$2,304,908$1,233,715$1,012,692$1,680,656
70$2,501,022$1,255,180$1,007,631$1,765,183
71$2,715,911$1,276,469$1,001,172$1,856,569
72$2,951,453$1,297,535$993,230$1,955,498
73$3,209,713$1,318,326$983,715$2,062,725
74$3,492,968$1,338,788$972,533$2,179,080
75$3,803,725$1,358,863$959,587$2,305,484
76$4,144,744$1,378,487$944,773$2,442,950
77$4,519,069$1,397,593$927,984$2,592,597
78$4,930,048$1,416,110$909,106$2,755,660
79$5,381,374$1,433,960$888,022$2,933,500
80$5,877,112$1,451,062$864,608$3,127,622
81$6,421,740$1,467,326$838,735$3,339,685
82$7,020,193$1,482,661$810,268$3,571,518
83$7,677,906$1,496,965$779,065$3,825,143
84$8,400,868$1,510,132$744,979$4,102,787
85$9,195,676$1,522,048$707,856$4,406,910
86$10,069,599$1,532,592$667,533$4,740,223
87$11,030,646$1,541,637$623,843$5,105,720
88$12,087,638$1,549,043$576,608$5,506,703
89$13,250,297$1,554,667$525,645$5,946,814
90$14,529,334$1,558,352$470,760$6,430,069
91$15,936,549$1,559,934$411,754$6,960,903
92$17,484,944$1,559,238$348,415$7,544,202
93$19,188,846$1,556,079$280,525$8,185,361
94$21,064,040$1,550,258$207,854$8,890,326
95$23,127,919$1,541,567$130,163$9,665,657
96$25,399,646$1,529,784$47,204$10,518,590
97$27,900,340$1,514,672$0$11,457,104
98$30,653,266$1,495,983$0$12,499,260
99$33,684,065$1,473,452$0$13,657,392
100$37,020,986$1,446,798$0$14,931,679