Can I retire at age 59 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$79,937$79,225$78,530$77,852$77,190$75,141
2 years$39,573$38,836$38,121$37,429$36,757$34,707
3 years$26,120$25,379$24,667$23,981$23,320$21,333
4 years$19,395$18,657$17,951$17,277$16,632$14,724
5 years$15,360$14,627$13,931$13,270$12,643$10,819
6 years$12,672$11,944$11,258$10,612$10,004$8,265
7 years$10,752$10,031$9,356$8,725$8,136$6,482
8 years$9,313$8,598$7,934$7,319$6,750$5,181
9 years$8,195$7,486$6,834$6,234$5,684$4,198
10 years$7,300$6,599$5,958$5,374$4,843$3,439
11 years$6,569$5,874$5,245$4,677$4,165$2,840
12 years$5,960$5,273$4,655$4,102$3,610$2,361
13 years$5,445$4,765$4,159$3,622$3,148$1,974
14 years$5,004$4,331$3,737$3,215$2,759$1,657
15 years$4,622$3,957$3,374$2,867$2,429$1,396
16 years$4,289$3,630$3,059$2,567$2,147$1,179
17 years$3,994$3,343$2,783$2,307$1,904$999
18 years$3,733$3,089$2,541$2,079$1,693$848
19 years$3,500$2,863$2,326$1,878$1,509$721
20 years$3,290$2,660$2,135$1,701$1,348$614
21 years$3,100$2,478$1,964$1,544$1,206$523
22 years$2,928$2,313$1,810$1,404$1,081$446
23 years$2,771$2,164$1,671$1,278$970$381
24 years$2,628$2,027$1,545$1,166$872$326
25 years$2,496$1,902$1,431$1,065$785$279
26 years$2,374$1,788$1,327$974$707$238
27 years$2,262$1,683$1,233$891$637$204
28 years$2,157$1,586$1,146$817$575$175
29 years$2,061$1,496$1,066$749$519$150
30 years$1,970$1,413$993$687$469$128
31 years$1,886$1,335$926$631$424$110
32 years$1,807$1,264$864$580$384$94
33 years$1,734$1,197$807$533$347$81
34 years$1,664$1,134$754$491$314$69
35 years$1,599$1,076$705$452$285$59
36 years$1,537$1,021$659$416$258$51
37 years$1,479$970$617$383$234$44
38 years$1,425$922$578$353$212$38
39 years$1,373$876$541$326$192$32
40 years$1,323$834$507$301$174$28
41 years$1,277$794$476$277$158$24
42 years$1,232$756$446$256$144$20
43 years$1,190$720$419$236$130$17
44 years$1,150$686$393$218$118$15
45 years$1,112$655$369$201$107$13
46 years$1,075$624$347$186$97$11
47 years$1,041$596$326$172$89$9
48 years$1,007$569$306$159$80$8
49 years$976$543$288$147$73$7
50 years$945$519$270$136$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $968,000, adding $6,690 every year, while hoping to spend $37,552 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: 58/27/15 Blend
58$968,000$968,000$968,000$968,000
59$1,073,637$1,022,333$1,007,329$1,131,408
60$1,143,193$1,032,472$1,001,119$1,181,402
61$1,218,585$1,041,850$993,443$1,231,153
62$1,300,368$1,050,388$984,212$1,284,513
63$1,389,155$1,058,006$973,332$1,341,837
64$1,485,617$1,064,616$960,706$1,403,513
65$1,590,492$1,070,125$946,233$1,469,972
66$1,704,596$1,074,435$929,805$1,541,690
67$1,828,822$1,077,439$911,310$1,619,192
68$1,964,155$1,079,027$890,633$1,703,057
69$2,111,679$1,079,080$867,649$1,793,925
70$2,272,587$1,077,472$842,232$1,892,504
71$2,448,192$1,074,068$814,247$1,999,574
72$2,639,937$1,068,728$783,555$2,115,996
73$2,849,415$1,061,299$750,008$2,242,723
74$3,078,376$1,051,624$713,454$2,380,804
75$3,328,748$1,039,531$673,732$2,531,399
76$3,602,654$1,024,841$630,676$2,695,789
77$3,902,431$1,007,365$584,109$2,875,385
78$4,230,652$986,900$533,851$3,071,749
79$4,590,153$963,232$479,709$3,286,601
80$4,984,054$936,136$421,485$3,521,842
81$5,415,793$905,372$358,970$3,779,569
82$5,889,156$870,687$291,947$4,062,096
83$6,408,311$831,811$220,189$4,371,977
84$6,977,851$788,463$143,458$4,712,030
85$7,602,836$740,341$61,507$5,085,367
86$8,288,835$687,128$0$5,495,417
87$9,041,988$628,489$0$5,950,120
88$9,869,055$564,069$0$6,460,277
89$10,777,483$493,493$0$7,020,686
90$11,775,478$416,366$0$7,636,479
91$12,872,076$332,267$0$8,313,314
92$14,077,235$240,756$0$9,057,429
93$15,401,926$141,366$0$9,875,705
94$16,858,232$33,602$0$10,775,724
95$18,459,469$0$0$11,765,850
96$20,220,306$0$0$12,879,978
97$22,156,904$0$0$14,116,387
98$24,287,070$0$0$15,476,473
99$26,630,423$0$0$16,972,775
100$29,208,580$0$0$18,619,107