Can I retire at age 59 with 968,000?

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 $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%13.6%
1 years$79,937$79,225$78,530$77,852$77,190$76,036
2 years$39,573$38,836$38,121$37,429$36,757$35,597
3 years$26,120$25,379$24,667$23,981$23,320$22,191
4 years$19,395$18,657$17,951$17,277$16,632$15,541
5 years$15,360$14,627$13,931$13,270$12,643$11,595
6 years$12,672$11,944$11,258$10,612$10,004$8,999
7 years$10,752$10,031$9,356$8,725$8,136$7,174
8 years$9,313$8,598$7,934$7,319$6,750$5,831
9 years$8,195$7,486$6,834$6,234$5,684$4,808
10 years$7,300$6,599$5,958$5,374$4,843$4,009
11 years$6,569$5,874$5,245$4,677$4,165$3,373
12 years$5,960$5,273$4,655$4,102$3,610$2,857
13 years$5,445$4,765$4,159$3,622$3,148$2,435
14 years$5,004$4,331$3,737$3,215$2,759$2,085
15 years$4,622$3,957$3,374$2,867$2,429$1,792
16 years$4,289$3,630$3,059$2,567$2,147$1,545
17 years$3,994$3,343$2,783$2,307$1,904$1,336
18 years$3,733$3,089$2,541$2,079$1,693$1,158
19 years$3,500$2,863$2,326$1,878$1,509$1,006
20 years$3,290$2,660$2,135$1,701$1,348$876
21 years$3,100$2,478$1,964$1,544$1,206$763
22 years$2,928$2,313$1,810$1,404$1,081$666
23 years$2,771$2,164$1,671$1,278$970$582
24 years$2,628$2,027$1,545$1,166$872$509
25 years$2,496$1,902$1,431$1,065$785$445
26 years$2,374$1,788$1,327$974$707$390
27 years$2,262$1,683$1,233$891$637$342
28 years$2,157$1,586$1,146$817$575$299
29 years$2,061$1,496$1,066$749$519$263
30 years$1,970$1,413$993$687$469$231
31 years$1,886$1,335$926$631$424$202
32 years$1,807$1,264$864$580$384$178
33 years$1,734$1,197$807$533$347$156
34 years$1,664$1,134$754$491$314$137
35 years$1,599$1,076$705$452$285$121
36 years$1,537$1,021$659$416$258$106
37 years$1,479$970$617$383$234$93
38 years$1,425$922$578$353$212$82
39 years$1,373$876$541$326$192$72
40 years$1,323$834$507$301$174$63
41 years$1,277$794$476$277$158$56
42 years$1,232$756$446$256$144$49
43 years$1,190$720$419$236$130$43
44 years$1,150$686$393$218$118$38
45 years$1,112$655$369$201$107$33
46 years$1,075$624$347$186$97$29
47 years$1,041$596$326$172$89$26
48 years$1,007$569$306$159$80$23
49 years$976$543$288$147$73$20
50 years$945$519$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 $968,000, adding $2,951 every year, while hoping to spend $27,031 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: 60/22/18 Blend
58$968,000$968,000$968,000$968,000
59$1,069,780$1,018,476$1,003,472$1,128,821
60$1,150,137$1,039,621$1,008,327$1,190,217
61$1,237,784$1,060,895$1,012,440$1,253,915
62$1,333,437$1,082,278$1,015,755$1,322,785
63$1,437,882$1,103,744$1,018,218$1,397,331
64$1,551,987$1,125,268$1,019,769$1,478,110
65$1,676,704$1,146,821$1,020,346$1,565,735
66$1,813,085$1,168,372$1,019,884$1,660,880
67$1,962,285$1,189,888$1,018,316$1,764,290
68$2,125,578$1,211,333$1,015,570$1,876,786
69$2,304,366$1,232,667$1,011,570$1,999,270
70$2,500,193$1,253,849$1,006,239$2,132,741
71$2,714,759$1,274,834$999,494$2,278,296
72$2,949,936$1,295,572$991,249$2,437,147
73$3,207,786$1,316,013$981,413$2,610,628
74$3,490,582$1,336,099$969,892$2,800,210
75$3,800,824$1,355,770$956,586$3,007,516
76$4,141,268$1,374,963$941,392$3,234,333
77$4,514,950$1,393,608$924,200$3,482,632
78$4,925,212$1,411,632$904,898$3,754,586
79$5,375,737$1,428,956$883,366$4,052,589
80$5,870,583$1,445,496$859,480$4,379,282
81$6,414,219$1,461,161$833,109$4,737,575
82$7,011,568$1,475,857$804,116$5,130,675
83$7,668,054$1,489,480$772,360$5,562,120
84$8,389,652$1,501,922$737,692$6,035,807
85$9,182,947$1,513,066$699,954$6,556,034
86$10,055,190$1,522,789$658,986$7,127,538
87$11,014,374$1,530,960$614,616$7,755,539
88$12,069,301$1,537,438$566,666$8,445,795
89$13,229,671$1,542,074$514,951$9,204,650
90$14,506,172$1,544,710$459,277$10,039,098
91$15,910,580$1,545,179$399,440$10,956,848
92$17,455,867$1,543,301$335,230$11,966,398
93$19,156,329$1,538,886$266,424$13,077,116
94$21,027,718$1,531,735$192,792$14,299,326
95$23,087,388$1,521,632$114,093$15,644,411
96$25,354,461$1,508,352$30,075$17,124,914
97$27,850,009$1,491,654$0$18,754,665
98$30,597,249$1,471,284$0$20,560,348
99$33,621,763$1,446,972$0$22,554,228
100$36,951,740$1,418,431$0$24,749,095