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%12.1%
1 years$79,937$79,225$78,530$77,852$77,190$76,511
2 years$39,573$38,836$38,121$37,429$36,757$36,073
3 years$26,120$25,379$24,667$23,981$23,320$22,652
4 years$19,395$18,657$17,951$17,277$16,632$15,985
5 years$15,360$14,627$13,931$13,270$12,643$12,020
6 years$12,672$11,944$11,258$10,612$10,004$9,404
7 years$10,752$10,031$9,356$8,725$8,136$7,560
8 years$9,313$8,598$7,934$7,319$6,750$6,198
9 years$8,195$7,486$6,834$6,234$5,684$5,156
10 years$7,300$6,599$5,958$5,374$4,843$4,339
11 years$6,569$5,874$5,245$4,677$4,165$3,684
12 years$5,960$5,273$4,655$4,102$3,610$3,151
13 years$5,445$4,765$4,159$3,622$3,148$2,711
14 years$5,004$4,331$3,737$3,215$2,759$2,345
15 years$4,622$3,957$3,374$2,867$2,429$2,036
16 years$4,289$3,630$3,059$2,567$2,147$1,774
17 years$3,994$3,343$2,783$2,307$1,904$1,550
18 years$3,733$3,089$2,541$2,079$1,693$1,359
19 years$3,500$2,863$2,326$1,878$1,509$1,193
20 years$3,290$2,660$2,135$1,701$1,348$1,050
21 years$3,100$2,478$1,964$1,544$1,206$925
22 years$2,928$2,313$1,810$1,404$1,081$816
23 years$2,771$2,164$1,671$1,278$970$721
24 years$2,628$2,027$1,545$1,166$872$638
25 years$2,496$1,902$1,431$1,065$785$565
26 years$2,374$1,788$1,327$974$707$501
27 years$2,262$1,683$1,233$891$637$444
28 years$2,157$1,586$1,146$817$575$394
29 years$2,061$1,496$1,066$749$519$350
30 years$1,970$1,413$993$687$469$311
31 years$1,886$1,335$926$631$424$276
32 years$1,807$1,264$864$580$384$246
33 years$1,734$1,197$807$533$347$219
34 years$1,664$1,134$754$491$314$195
35 years$1,599$1,076$705$452$285$173
36 years$1,537$1,021$659$416$258$154
37 years$1,479$970$617$383$234$137
38 years$1,425$922$578$353$212$122
39 years$1,373$876$541$326$192$109
40 years$1,323$834$507$301$174$97
41 years$1,277$794$476$277$158$86
42 years$1,232$756$446$256$144$77
43 years$1,190$720$419$236$130$69
44 years$1,150$686$393$218$118$61
45 years$1,112$655$369$201$107$55
46 years$1,075$624$347$186$97$49
47 years$1,041$596$326$172$89$43
48 years$1,007$569$306$159$80$39
49 years$976$543$288$147$73$34
50 years$945$519$270$136$66$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $968,000, adding $4,939 every year, while hoping to spend $42,626 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: 69/11/20 Blend
58$968,000$968,000$968,000$968,000
59$1,071,831$1,020,527$1,005,523$1,140,178
60$1,135,804$1,025,179$993,854$1,191,108
61$1,204,873$1,028,630$980,366$1,241,355
62$1,279,514$1,030,777$964,952$1,295,294
63$1,360,249$1,031,509$947,502$1,353,285
64$1,447,650$1,030,709$927,899$1,415,729
65$1,542,349$1,028,252$906,022$1,483,064
66$1,645,039$1,024,007$881,744$1,555,777
67$1,756,482$1,017,833$854,932$1,634,403
68$1,877,518$1,009,581$825,447$1,719,536
69$2,009,068$999,094$793,143$1,811,828
70$2,152,148$986,204$757,868$1,912,000
71$2,307,874$970,735$719,463$2,020,848
72$2,477,474$952,499$677,763$2,139,251
73$2,662,301$931,295$632,592$2,268,177
74$2,863,842$906,915$583,770$2,408,697
75$3,083,735$879,135$531,108$2,561,990
76$3,323,782$847,719$474,406$2,729,359
77$3,585,968$812,417$413,458$2,912,242
78$3,872,475$772,964$348,048$3,112,223
79$4,185,710$729,082$277,950$3,331,054
80$4,528,320$680,474$202,928$3,570,664
81$4,903,219$626,827$122,737$3,833,183
82$5,313,617$567,812$37,119$4,120,961
83$5,763,050$503,079$0$4,436,590
84$6,255,410$432,258$0$4,794,506
85$6,794,982$354,960$0$5,195,493
86$7,386,489$270,771$0$5,635,164
87$8,035,130$179,258$0$6,117,420
88$8,746,632$79,960$0$6,646,564
89$9,527,302$0$0$7,227,335
90$10,384,089$0$0$7,868,298
91$11,324,646$0$0$8,582,611
92$12,357,403$0$0$9,367,003
93$13,491,647$0$0$10,228,536
94$14,737,608$0$0$11,174,987
95$16,106,557$0$0$12,214,925
96$17,610,908$0$0$13,357,790
97$19,264,339$0$0$14,613,981
98$21,081,920$0$0$15,994,955
99$23,080,251$0$0$17,513,333
100$25,277,624$0$0$19,183,024