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%14.5%
1 years$80,102$79,388$78,692$78,013$77,349$75,912
2 years$39,654$38,916$38,200$37,506$36,833$35,390
3 years$26,174$25,432$24,718$24,030$23,368$21,965
4 years$19,435$18,695$17,988$17,313$16,666$15,314
5 years$15,392$14,657$13,960$13,298$12,670$11,371
6 years$12,698$11,969$11,282$10,634$10,025$8,782
7 years$10,775$10,051$9,375$8,743$8,153$6,966
8 years$9,333$8,616$7,951$7,334$6,764$5,633
9 years$8,212$7,502$6,848$6,247$5,696$4,620
10 years$7,315$6,612$5,970$5,385$4,853$3,831
11 years$6,583$5,887$5,256$4,687$4,174$3,205
12 years$5,972$5,283$4,665$4,111$3,617$2,699
13 years$5,456$4,775$4,168$3,629$3,154$2,287
14 years$5,015$4,340$3,745$3,222$2,765$1,946
15 years$4,632$3,965$3,381$2,873$2,434$1,662
16 years$4,297$3,638$3,065$2,573$2,152$1,424
17 years$4,003$3,350$2,789$2,311$1,908$1,224
18 years$3,741$3,096$2,546$2,083$1,696$1,054
19 years$3,507$2,869$2,331$1,882$1,512$910
20 years$3,297$2,666$2,139$1,705$1,350$786
21 years$3,107$2,483$1,968$1,547$1,209$680
22 years$2,934$2,318$1,814$1,407$1,083$590
23 years$2,777$2,168$1,674$1,281$972$512
24 years$2,633$2,031$1,549$1,168$874$444
25 years$2,501$1,906$1,434$1,067$786$386
26 years$2,379$1,792$1,330$976$708$336
27 years$2,266$1,686$1,235$893$639$292
28 years$2,162$1,589$1,148$818$576$254
29 years$2,065$1,499$1,069$750$520$221
30 years$1,975$1,415$995$689$470$193
31 years$1,890$1,338$928$632$425$168
32 years$1,811$1,266$866$581$385$146
33 years$1,737$1,199$808$535$348$128
34 years$1,668$1,136$755$492$315$111
35 years$1,602$1,078$706$453$285$97
36 years$1,541$1,023$661$417$259$85
37 years$1,482$972$618$384$234$74
38 years$1,427$923$579$354$212$65
39 years$1,375$878$542$326$193$56
40 years$1,326$835$508$301$175$49
41 years$1,279$795$477$278$159$43
42 years$1,235$757$447$256$144$37
43 years$1,193$722$420$237$131$33
44 years$1,152$688$394$219$119$29
45 years$1,114$656$370$202$108$25
46 years$1,078$626$347$186$98$22
47 years$1,043$597$326$172$89$19
48 years$1,009$570$307$159$81$17
49 years$978$544$288$147$73$14
50 years$947$520$271$136$66$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $970,000, adding $6,327 every year, while hoping to spend $36,505 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: 75/9/16 Blend
58$970,000$970,000$970,000$970,000
59$1,075,466$1,024,056$1,009,021$1,151,843
60$1,146,323$1,035,394$1,003,982$1,214,557
61$1,223,183$1,046,064$997,551$1,278,131
62$1,306,621$1,055,994$989,643$1,346,832
63$1,397,268$1,065,110$980,167$1,421,157
64$1,495,819$1,073,329$969,032$1,501,660
65$1,603,036$1,080,566$956,138$1,588,945
66$1,719,761$1,086,729$941,384$1,683,684
67$1,846,917$1,091,720$924,662$1,786,612
68$1,985,524$1,095,435$905,859$1,898,543
69$2,136,701$1,097,765$884,858$2,020,373
70$2,301,680$1,098,591$861,537$2,153,089
71$2,481,819$1,097,789$835,766$2,297,781
72$2,678,611$1,095,227$807,410$2,455,647
73$2,893,700$1,090,764$776,330$2,628,011
74$3,128,898$1,084,252$742,377$2,816,331
75$3,386,197$1,075,532$705,398$3,022,213
76$3,667,792$1,064,436$665,232$3,247,430
77$3,976,101$1,050,787$621,711$3,493,935
78$4,313,784$1,034,397$574,659$3,763,881
79$4,683,772$1,015,065$523,893$4,059,641
80$5,089,294$992,580$469,220$4,383,832
81$5,533,904$966,718$410,441$4,739,337
82$6,021,518$937,243$347,346$5,129,336
83$6,556,447$903,902$279,717$5,557,333
84$7,143,442$866,431$207,325$6,027,192
85$7,787,736$824,549$129,933$6,543,171
86$8,495,091$777,957$47,291$7,109,964
87$9,271,855$726,343$0$7,732,747
88$10,125,023$669,372$0$8,424,206
89$11,062,299$606,694$0$9,192,717
90$12,092,169$537,938$0$10,037,175
91$13,223,983$462,710$0$10,965,272
92$14,468,043$380,596$0$11,985,482
93$15,835,695$291,158$0$13,107,142
94$17,339,444$193,933$0$14,340,542
95$18,993,063$88,431$0$15,697,020
96$20,811,729$0$0$17,189,070
97$22,812,161$0$0$18,833,021
98$25,012,784$0$0$20,651,167
99$27,433,894$0$0$22,651,525
100$30,097,856$0$0$24,852,578