Can I retire at age 59 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$79,854$79,143$78,449$77,771$77,110$75,989
2 years$39,532$38,795$38,082$37,390$36,719$35,592
3 years$26,093$25,353$24,642$23,956$23,296$22,198
4 years$19,374$18,637$17,933$17,259$16,615$15,554
5 years$15,345$14,612$13,917$13,257$12,630$11,610
6 years$12,659$11,932$11,247$10,601$9,994$9,016
7 years$10,741$10,020$9,346$8,716$8,128$7,192
8 years$9,304$8,589$7,926$7,312$6,743$5,849
9 years$8,186$7,478$6,827$6,228$5,678$4,826
10 years$7,293$6,592$5,952$5,369$4,838$4,026
11 years$6,562$5,868$5,240$4,672$4,161$3,389
12 years$5,954$5,267$4,650$4,098$3,606$2,873
13 years$5,440$4,760$4,155$3,618$3,144$2,450
14 years$4,999$4,327$3,733$3,212$2,756$2,099
15 years$4,618$3,952$3,370$2,864$2,427$1,805
16 years$4,284$3,626$3,056$2,565$2,145$1,558
17 years$3,990$3,340$2,781$2,304$1,902$1,348
18 years$3,729$3,086$2,538$2,077$1,691$1,170
19 years$3,496$2,860$2,324$1,876$1,507$1,017
20 years$3,287$2,658$2,133$1,699$1,346$885
21 years$3,097$2,476$1,962$1,542$1,205$772
22 years$2,925$2,311$1,808$1,402$1,080$674
23 years$2,768$2,161$1,669$1,277$969$589
24 years$2,625$2,025$1,544$1,165$871$516
25 years$2,493$1,900$1,430$1,064$784$452
26 years$2,372$1,786$1,326$973$706$396
27 years$2,259$1,681$1,231$890$637$347
28 years$2,155$1,584$1,145$816$575$305
29 years$2,059$1,494$1,065$748$519$268
30 years$1,968$1,411$992$687$469$235
31 years$1,884$1,334$925$631$424$206
32 years$1,806$1,262$863$579$383$181
33 years$1,732$1,195$806$533$347$160
34 years$1,662$1,133$753$490$314$140
35 years$1,597$1,075$704$451$285$123
36 years$1,536$1,020$659$416$258$109
37 years$1,478$969$616$383$234$96
38 years$1,423$921$577$353$212$84
39 years$1,371$875$541$325$192$74
40 years$1,322$833$507$300$174$65
41 years$1,275$793$475$277$158$57
42 years$1,231$755$446$256$143$51
43 years$1,189$719$418$236$130$44
44 years$1,149$686$393$218$118$39
45 years$1,111$654$369$201$107$34
46 years$1,074$624$346$186$97$30
47 years$1,040$595$325$172$88$27
48 years$1,006$568$306$159$80$24
49 years$975$543$287$147$73$21
50 years$944$518$270$136$66$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $967,000, adding $2,780 every year, while hoping to spend $56,629 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: 61/24/15 Blend
58$967,000$967,000$967,000$967,000
59$1,068,502$1,017,251$1,002,262$1,129,520
60$1,117,236$1,006,843$975,585$1,160,511
61$1,169,043$994,028$946,116$1,187,693
62$1,224,177$978,626$913,703$1,216,007
63$1,282,915$960,451$878,184$1,245,569
64$1,345,562$939,302$839,392$1,276,508
65$1,412,449$914,968$797,152$1,308,966
66$1,483,943$887,226$751,281$1,343,105
67$1,560,443$855,838$701,586$1,379,105
68$1,642,388$820,554$647,869$1,417,165
69$1,730,259$781,108$589,920$1,457,512
70$1,824,584$737,221$527,521$1,500,394
71$1,925,941$688,595$460,443$1,546,093
72$2,034,968$634,916$388,448$1,594,918
73$2,152,361$575,854$311,288$1,647,219
74$2,278,889$511,057$228,703$1,703,382
75$2,415,392$440,156$140,421$1,763,837
76$2,562,796$362,757$46,159$1,829,065
77$2,722,118$278,449$0$1,899,600
78$2,894,475$186,794$0$1,984,747
79$3,081,096$87,332$0$2,084,904
80$3,283,331$0$0$2,193,461
81$3,502,664$0$0$2,316,680
82$3,740,729$0$0$2,475,519
83$3,999,322$0$0$2,648,120
84$4,280,418$0$0$2,835,808
85$4,586,190$0$0$3,040,045
86$4,919,030$0$0$3,262,436
87$5,281,569$0$0$3,504,748
88$5,676,701$0$0$3,768,927
89$6,107,615$0$0$4,057,113
90$6,577,816$0$0$4,371,662
91$7,091,165$0$0$4,715,168
92$7,651,911$0$0$5,090,486
93$8,264,734$0$0$5,500,760
94$8,934,782$0$0$5,949,448
95$9,667,728$0$0$6,440,363
96$10,469,814$0$0$6,977,700
97$11,347,916$0$0$7,566,078
98$12,309,606$0$0$8,210,585
99$13,363,220$0$0$8,916,823
100$14,517,941$0$0$9,690,965