Can I retire at age 59 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$80,019$79,306$78,611$77,932$77,269$76,272
2 years$39,613$38,876$38,161$37,467$36,795$35,792
3 years$26,147$25,406$24,692$24,006$23,344$22,366
4 years$19,415$18,676$17,970$17,295$16,649$15,704
5 years$15,376$14,642$13,945$13,284$12,657$11,747
6 years$12,685$11,956$11,270$10,623$10,015$9,141
7 years$10,764$10,041$9,365$8,734$8,145$7,308
8 years$9,323$8,607$7,943$7,327$6,757$5,957
9 years$8,203$7,494$6,841$6,241$5,690$4,927
10 years$7,308$6,606$5,964$5,380$4,848$4,121
11 years$6,576$5,880$5,251$4,682$4,170$3,477
12 years$5,966$5,278$4,660$4,107$3,613$2,955
13 years$5,451$4,770$4,163$3,626$3,151$2,527
14 years$5,009$4,336$3,741$3,218$2,762$2,170
15 years$4,627$3,961$3,377$2,870$2,432$1,872
16 years$4,293$3,634$3,062$2,570$2,149$1,620
17 years$3,999$3,347$2,786$2,309$1,906$1,406
18 years$3,737$3,092$2,544$2,081$1,695$1,223
19 years$3,503$2,866$2,329$1,880$1,510$1,066
20 years$3,293$2,663$2,137$1,703$1,349$931
21 years$3,104$2,481$1,966$1,546$1,207$815
22 years$2,931$2,316$1,812$1,405$1,082$714
23 years$2,774$2,166$1,673$1,280$971$626
24 years$2,630$2,029$1,547$1,167$873$549
25 years$2,498$1,904$1,433$1,066$786$483
26 years$2,377$1,790$1,329$975$708$424
27 years$2,264$1,684$1,234$892$638$373
28 years$2,160$1,587$1,147$817$576$329
29 years$2,063$1,497$1,068$750$520$289
30 years$1,972$1,414$994$688$470$255
31 years$1,888$1,337$927$632$425$225
32 years$1,809$1,265$865$581$384$198
33 years$1,735$1,198$808$534$348$175
34 years$1,666$1,135$755$491$315$154
35 years$1,601$1,077$705$452$285$136
36 years$1,539$1,022$660$417$258$120
37 years$1,481$971$618$384$234$106
38 years$1,426$922$578$354$212$94
39 years$1,374$877$542$326$192$83
40 years$1,325$835$508$301$175$73
41 years$1,278$794$476$278$158$65
42 years$1,234$757$447$256$144$57
43 years$1,191$721$419$236$130$50
44 years$1,151$687$394$218$118$45
45 years$1,113$655$370$202$107$39
46 years$1,077$625$347$186$98$35
47 years$1,042$597$326$172$89$31
48 years$1,008$569$306$159$80$27
49 years$977$544$288$147$73$24
50 years$946$519$271$136$66$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $969,000, adding $6,216 every year, while hoping to spend $32,791 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: 51/25/24 Blend
58$969,000$969,000$969,000$969,000
59$1,074,250$1,022,893$1,007,873$1,121,533
60$1,148,934$1,038,125$1,006,748$1,170,209
61$1,230,137$1,053,005$1,004,485$1,219,267
62$1,318,489$1,067,480$1,001,014$1,271,939
63$1,414,683$1,081,495$996,256$1,328,583
64$1,519,483$1,094,991$990,133$1,389,590
65$1,633,729$1,107,904$982,561$1,455,397
66$1,758,344$1,120,166$973,452$1,526,482
67$1,894,346$1,131,705$962,713$1,603,376
68$2,042,855$1,142,445$950,250$1,686,665
69$2,205,104$1,152,302$935,961$1,776,994
70$2,382,449$1,161,189$919,739$1,875,078
71$2,576,384$1,169,012$901,476$1,981,704
72$2,788,555$1,175,674$881,056$2,097,742
73$3,020,773$1,181,067$858,356$2,224,152
74$3,275,032$1,185,080$833,252$2,361,995
75$3,553,530$1,187,593$805,610$2,512,441
76$3,858,683$1,188,479$775,291$2,676,783
77$4,193,158$1,187,603$742,152$2,856,445
78$4,559,887$1,184,822$706,041$3,053,003
79$4,962,101$1,179,985$666,800$3,268,192
80$5,403,361$1,172,929$624,262$3,503,930
81$5,887,585$1,163,484$578,257$3,762,334
82$6,419,092$1,151,468$528,602$4,045,736
83$7,002,638$1,136,689$475,109$4,356,714
84$7,643,464$1,118,943$417,581$4,698,110
85$8,347,340$1,098,014$355,813$5,073,060
86$9,120,625$1,073,673$289,589$5,485,025
87$9,970,323$1,045,678$218,685$5,937,821
88$10,904,152$1,013,772$142,867$6,435,662
89$11,930,613$977,684$61,890$6,983,193
90$13,059,070$937,125$0$7,585,539
91$14,299,844$891,793$0$8,254,636
92$15,664,303$841,365$0$9,007,759
93$17,164,971$785,501$0$9,835,993
94$18,815,649$723,842$0$10,746,999
95$20,631,541$656,006$0$11,749,223
96$22,629,400$581,593$0$12,851,973
97$24,827,685$500,176$0$14,065,511
98$27,246,732$411,308$0$15,401,150
99$29,908,950$314,514$0$16,871,358
100$32,839,031$209,294$0$18,489,881