Can I retire at age 59 with 970,000?

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 $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%18.6%
1 years$80,102$79,388$78,692$78,013$77,349$74,664
2 years$39,654$38,916$38,200$37,506$36,833$34,156
3 years$26,174$25,432$24,718$24,030$23,368$20,783
4 years$19,435$18,695$17,988$17,313$16,666$14,192
5 years$15,392$14,657$13,960$13,298$12,670$10,314
6 years$12,698$11,969$11,282$10,634$10,025$7,789
7 years$10,775$10,051$9,375$8,743$8,153$6,036
8 years$9,333$8,616$7,951$7,334$6,764$4,765
9 years$8,212$7,502$6,848$6,247$5,696$3,813
10 years$7,315$6,612$5,970$5,385$4,853$3,082
11 years$6,583$5,887$5,256$4,687$4,174$2,511
12 years$5,972$5,283$4,665$4,111$3,617$2,059
13 years$5,456$4,775$4,168$3,629$3,154$1,697
14 years$5,015$4,340$3,745$3,222$2,765$1,404
15 years$4,632$3,965$3,381$2,873$2,434$1,165
16 years$4,297$3,638$3,065$2,573$2,152$970
17 years$4,003$3,350$2,789$2,311$1,908$809
18 years$3,741$3,096$2,546$2,083$1,696$676
19 years$3,507$2,869$2,331$1,882$1,512$565
20 years$3,297$2,666$2,139$1,705$1,350$474
21 years$3,107$2,483$1,968$1,547$1,209$397
22 years$2,934$2,318$1,814$1,407$1,083$333
23 years$2,777$2,168$1,674$1,281$972$280
24 years$2,633$2,031$1,549$1,168$874$235
25 years$2,501$1,906$1,434$1,067$786$198
26 years$2,379$1,792$1,330$976$708$167
27 years$2,266$1,686$1,235$893$639$140
28 years$2,162$1,589$1,148$818$576$118
29 years$2,065$1,499$1,069$750$520$99
30 years$1,975$1,415$995$689$470$84
31 years$1,890$1,338$928$632$425$71
32 years$1,811$1,266$866$581$385$59
33 years$1,737$1,199$808$535$348$50
34 years$1,668$1,136$755$492$315$42
35 years$1,602$1,078$706$453$285$36
36 years$1,541$1,023$661$417$259$30
37 years$1,482$972$618$384$234$25
38 years$1,427$923$579$354$212$21
39 years$1,375$878$542$326$193$18
40 years$1,326$835$508$301$175$15
41 years$1,279$795$477$278$159$13
42 years$1,235$757$447$256$144$11
43 years$1,193$722$420$237$131$9
44 years$1,152$688$394$219$119$8
45 years$1,114$656$370$202$108$6
46 years$1,078$626$347$186$98$5
47 years$1,043$597$326$172$89$5
48 years$1,009$570$307$159$81$4
49 years$978$544$288$147$73$3
50 years$947$520$271$136$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $970,000, adding $3,354 every year, while hoping to spend $58,855 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: 71/15/14 Blend
58$970,000$970,000$970,000$970,000
59$1,072,400$1,020,990$1,005,955$1,144,979
60$1,119,163$1,008,397$977,033$1,180,983
61$1,168,724$993,214$945,170$1,212,927
62$1,221,305$975,253$910,204$1,246,355
63$1,277,151$954,314$871,969$1,281,400
64$1,336,528$930,183$830,287$1,318,213
65$1,399,729$902,636$784,977$1,356,960
66$1,467,072$871,437$735,845$1,397,827
67$1,538,909$836,332$682,691$1,441,020
68$1,615,622$797,057$625,305$1,486,766
69$1,697,632$753,329$563,469$1,535,317
70$1,785,399$704,851$496,954$1,586,956
71$1,879,428$651,307$425,521$1,641,993
72$1,980,274$592,365$348,920$1,700,773
73$2,088,544$527,673$266,891$1,763,680
74$2,204,906$456,860$179,162$1,831,137
75$2,330,091$379,531$85,449$1,903,615
76$2,464,904$295,272$0$1,981,634
77$2,610,229$203,644$0$2,067,948
78$2,767,034$104,185$0$2,174,785
79$2,936,386$0$0$2,290,123
80$3,119,457$0$0$2,415,390
81$3,317,532$0$0$2,569,570
82$3,532,028$0$0$2,736,573
83$3,764,500$0$0$2,917,614
84$4,016,658$0$0$3,114,032
85$4,290,384$0$0$3,327,297
86$4,587,747$0$0$3,559,028
87$4,911,023$0$0$3,811,005
88$5,262,716$0$0$4,085,185
89$5,645,581$0$0$4,383,723
90$6,062,649$0$0$4,708,990
91$6,517,257$0$0$5,063,596
92$7,013,075$0$0$5,450,412
93$7,554,145$0$0$5,872,598
94$8,144,915$0$0$6,333,634
95$8,790,281$0$0$6,837,349
96$9,495,635$0$0$7,387,961
97$10,266,909$0$0$7,990,111
98$11,110,639$0$0$8,648,910
99$12,034,020$0$0$9,369,987
100$13,044,973$0$0$10,159,538