Can I retire at age 59 with 9,700,000?

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 $9,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$801,017$793,882$786,921$780,126$773,492$763,194
2 years$396,543$389,158$382,000$375,061$368,329$357,971
3 years$261,736$254,319$247,180$240,305$233,683$223,586
4 years$194,346$186,951$179,883$173,126$166,665$156,907
5 years$153,922$146,572$139,597$132,978$126,696$117,305
6 years$126,982$119,687$112,815$106,343$100,250$91,238
7 years$107,746$100,513$93,750$87,431$81,530$72,900
8 years$93,326$86,158$79,507$73,343$67,637$59,388
9 years$82,117$75,016$68,480$62,472$56,960$49,089
10 years$73,154$66,123$59,702$53,852$48,533$41,033
11 years$65,826$58,866$52,561$46,867$41,740$34,605
12 years$59,723$52,835$46,646$41,109$36,171$29,392
13 years$54,564$47,747$41,675$36,293$31,542$25,111
14 years$50,145$43,401$37,446$32,217$27,649$21,556
15 years$46,319$39,647$33,808$28,732$24,345$18,579
16 years$42,975$36,376$30,652$25,726$21,516$16,067
17 years$40,027$33,501$27,892$23,115$19,078$13,934
18 years$37,409$30,956$25,462$20,831$16,963$12,114
19 years$35,070$28,690$23,309$18,823$15,119$10,553
20 years$32,967$26,660$21,392$17,047$13,505$9,210
21 years$31,067$24,833$19,677$15,472$12,085$8,050
22 years$29,342$23,180$18,135$14,067$10,833$7,046
23 years$27,770$21,680$16,744$12,811$9,724$6,174
24 years$26,330$20,313$15,486$11,685$8,740$5,415
25 years$25,008$19,063$14,343$10,671$7,865$4,754
26 years$23,790$17,916$13,302$9,757$7,084$4,177
27 years$22,663$16,861$12,352$8,931$6,387$3,672
28 years$21,619$15,888$11,483$8,183$5,763$3,230
29 years$20,649$14,988$10,686$7,504$5,204$2,843
30 years$19,745$14,155$9,954$6,887$4,702$2,503
31 years$18,901$13,381$9,280$6,325$4,251$2,205
32 years$18,111$12,661$8,658$5,813$3,846$1,943
33 years$17,371$11,990$8,084$5,345$3,480$1,712
34 years$16,676$11,364$7,553$4,918$3,151$1,510
35 years$16,022$10,779$7,062$4,527$2,854$1,331
36 years$15,406$10,231$6,606$4,170$2,586$1,174
37 years$14,824$9,717$6,183$3,842$2,344$1,036
38 years$14,275$9,234$5,790$3,541$2,125$914
39 years$13,754$8,781$5,425$3,265$1,927$807
40 years$13,261$8,354$5,085$3,011$1,748$712
41 years$12,794$7,953$4,768$2,778$1,586$628
42 years$12,350$7,574$4,472$2,564$1,439$555
43 years$11,927$7,216$4,197$2,367$1,306$490
44 years$11,525$6,879$3,939$2,186$1,185$432
45 years$11,142$6,559$3,699$2,018$1,076$382
46 years$10,776$6,257$3,474$1,864$977$337
47 years$10,428$5,971$3,264$1,723$887$298
48 years$10,094$5,701$3,067$1,592$806$263
49 years$9,776$5,444$2,883$1,471$732$232
50 years$9,471$5,200$2,710$1,360$665$205

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $9,700,000, adding $6,580 every year, while hoping to spend $30,461 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: 46/28/26 Blend
58$9,700,000$9,700,000$9,700,000$9,700,000
59$10,696,187$10,182,087$10,031,737$11,107,951
60$11,754,788$10,648,599$10,335,390$11,865,914
61$12,920,345$11,136,949$10,648,195$12,684,321
62$14,203,736$11,648,176$10,970,425$13,571,714
63$15,616,947$12,183,366$11,302,364$14,534,566
64$17,173,184$12,743,660$11,644,302$15,579,983
65$18,887,002$13,330,252$11,996,539$16,715,776
66$20,774,438$13,944,396$12,359,384$17,950,523
67$22,853,162$14,587,402$12,733,155$19,293,655
68$25,142,647$15,260,648$13,118,178$20,755,535
69$27,664,352$15,965,574$13,514,792$22,347,553
70$30,441,920$16,703,692$13,923,342$24,082,233
71$33,501,409$17,476,586$14,344,187$25,973,345
72$36,871,529$18,285,915$14,777,694$28,036,030
73$40,583,921$19,133,420$15,224,242$30,286,939
74$44,673,448$20,020,926$15,684,222$32,744,387
75$49,178,531$20,950,342$16,158,035$35,428,520
76$54,141,507$21,923,675$16,646,095$38,361,498
77$59,609,030$22,943,024$17,148,828$41,567,704
78$65,632,510$24,010,592$17,666,673$45,073,963
79$72,268,601$25,128,686$18,200,081$48,909,793
80$79,579,733$26,299,726$18,749,519$53,107,676
81$87,634,703$27,526,249$19,315,464$57,703,363
82$96,509,320$28,810,913$19,898,410$62,736,195
83$106,287,129$30,156,506$20,498,865$68,249,478
84$117,060,191$31,565,950$21,117,352$74,290,878
85$128,929,957$33,042,307$21,754,409$80,912,868
86$142,008,221$34,588,789$22,410,591$88,173,211
87$156,418,182$36,208,763$23,086,468$96,135,500
88$172,295,601$37,905,756$23,782,629$104,869,751
89$189,790,083$39,683,468$24,499,678$114,453,051
90$209,066,493$41,545,780$25,238,238$124,970,279
91$230,306,507$43,496,755$25,998,952$136,514,899
92$253,710,334$45,540,659$26,782,479$149,189,828
93$279,498,596$47,681,959$27,589,500$163,108,403
94$307,914,420$49,925,343$28,420,715$178,395,432
95$339,225,727$52,275,721$29,276,846$195,188,367
96$373,727,765$54,738,245$30,158,634$213,638,587
97$411,745,893$57,318,315$31,066,844$233,912,816
98$453,638,653$60,021,591$32,002,263$256,194,680
99$499,801,158$62,854,011$32,965,700$280,686,430
100$550,668,815$65,821,797$33,957,991$307,610,837