Can I retire at age 59 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$80,102$79,388$78,692$78,013$77,349$75,054
2 years$39,654$38,916$38,200$37,506$36,833$34,539
3 years$26,174$25,432$24,718$24,030$23,368$21,148
4 years$19,435$18,695$17,988$17,313$16,666$14,537
5 years$15,392$14,657$13,960$13,298$12,670$10,637
6 years$12,698$11,969$11,282$10,634$10,025$8,090
7 years$10,775$10,051$9,375$8,743$8,153$6,317
8 years$9,333$8,616$7,951$7,334$6,764$5,025
9 years$8,212$7,502$6,848$6,247$5,696$4,052
10 years$7,315$6,612$5,970$5,385$4,853$3,303
11 years$6,583$5,887$5,256$4,687$4,174$2,714
12 years$5,972$5,283$4,665$4,111$3,617$2,244
13 years$5,456$4,775$4,168$3,629$3,154$1,866
14 years$5,015$4,340$3,745$3,222$2,765$1,558
15 years$4,632$3,965$3,381$2,873$2,434$1,305
16 years$4,297$3,638$3,065$2,573$2,152$1,096
17 years$4,003$3,350$2,789$2,311$1,908$923
18 years$3,741$3,096$2,546$2,083$1,696$779
19 years$3,507$2,869$2,331$1,882$1,512$658
20 years$3,297$2,666$2,139$1,705$1,350$557
21 years$3,107$2,483$1,968$1,547$1,209$472
22 years$2,934$2,318$1,814$1,407$1,083$400
23 years$2,777$2,168$1,674$1,281$972$339
24 years$2,633$2,031$1,549$1,168$874$288
25 years$2,501$1,906$1,434$1,067$786$245
26 years$2,379$1,792$1,330$976$708$208
27 years$2,266$1,686$1,235$893$639$177
28 years$2,162$1,589$1,148$818$576$151
29 years$2,065$1,499$1,069$750$520$128
30 years$1,975$1,415$995$689$470$109
31 years$1,890$1,338$928$632$425$93
32 years$1,811$1,266$866$581$385$79
33 years$1,737$1,199$808$535$348$67
34 years$1,668$1,136$755$492$315$57
35 years$1,602$1,078$706$453$285$49
36 years$1,541$1,023$661$417$259$42
37 years$1,482$972$618$384$234$36
38 years$1,427$923$579$354$212$30
39 years$1,375$878$542$326$193$26
40 years$1,326$835$508$301$175$22
41 years$1,279$795$477$278$159$19
42 years$1,235$757$447$256$144$16
43 years$1,193$722$420$237$131$14
44 years$1,152$688$394$219$119$12
45 years$1,114$656$370$202$108$10
46 years$1,078$626$347$186$98$8
47 years$1,043$597$326$172$89$7
48 years$1,009$570$307$159$81$6
49 years$978$544$288$147$73$5
50 years$947$520$271$136$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $970,000, adding $4,147 every year, while hoping to spend $44,520 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: 62/8/30 Blend
58$970,000$970,000$970,000$970,000
59$1,073,218$1,021,808$1,006,773$1,130,835
60$1,135,317$1,024,507$993,131$1,173,248
61$1,202,258$1,025,847$977,539$1,214,379
62$1,274,488$1,025,713$959,887$1,258,364
63$1,352,498$1,023,986$940,055$1,305,492
64$1,436,828$1,020,535$917,922$1,356,084
65$1,528,070$1,015,227$893,357$1,410,492
66$1,626,876$1,007,916$866,228$1,469,110
67$1,733,963$998,450$836,392$1,532,370
68$1,850,119$986,666$803,703$1,600,752
69$1,976,210$972,392$768,007$1,674,784
70$2,113,191$955,446$729,142$1,755,055
71$2,262,108$935,635$686,940$1,842,212
72$2,424,117$912,755$641,226$1,936,971
73$2,600,485$886,588$591,816$2,040,124
74$2,792,610$856,906$538,517$2,152,548
75$3,002,029$823,467$481,130$2,275,209
76$3,230,432$786,013$419,444$2,409,178
77$3,479,681$744,273$353,240$2,555,635
78$3,751,826$697,959$282,291$2,715,886
79$4,049,122$646,769$206,357$2,891,373
80$4,374,052$590,381$125,190$3,083,688
81$4,729,350$528,454$38,529$3,294,590
82$5,118,027$460,632$0$3,526,023
83$5,543,398$386,534$0$3,797,401
84$6,009,110$305,761$0$4,108,107
85$6,519,185$217,888$0$4,448,504
86$7,078,047$122,470$0$4,821,579
87$7,690,571$19,034$0$5,230,622
88$8,362,125$0$0$5,679,257
89$9,098,622$0$0$6,179,659
90$9,906,574$0$0$6,730,523
91$10,793,154$0$0$7,335,071
92$11,766,262$0$0$7,998,701
93$12,834,602$0$0$8,727,358
94$14,007,760$0$0$9,527,591
95$15,296,297$0$0$10,406,615
96$16,711,846$0$0$11,372,375
97$18,267,225$0$0$12,433,629
98$19,976,551$0$0$13,600,020
99$21,855,380$0$0$14,882,175
100$23,920,848$0$0$16,291,801