Can I retire at age 59 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$80,184$79,470$78,773$78,093$77,429$75,928
2 years$39,695$38,956$38,239$37,545$36,871$35,365
3 years$26,201$25,458$24,743$24,055$23,392$21,928
4 years$19,455$18,714$18,007$17,330$16,684$15,272
5 years$15,408$14,672$13,974$13,311$12,683$11,328
6 years$12,711$11,981$11,293$10,645$10,035$8,740
7 years$10,786$10,062$9,385$8,752$8,161$6,925
8 years$9,342$8,625$7,959$7,342$6,771$5,593
9 years$8,220$7,509$6,855$6,254$5,702$4,582
10 years$7,323$6,619$5,976$5,391$4,858$3,795
11 years$6,589$5,893$5,261$4,692$4,178$3,170
12 years$5,979$5,289$4,669$4,115$3,621$2,667
13 years$5,462$4,780$4,172$3,633$3,157$2,256
14 years$5,020$4,345$3,748$3,225$2,768$1,917
15 years$4,637$3,969$3,384$2,876$2,437$1,636
16 years$4,302$3,641$3,068$2,575$2,154$1,400
17 years$4,007$3,354$2,792$2,314$1,910$1,201
18 years$3,745$3,099$2,549$2,085$1,698$1,033
19 years$3,511$2,872$2,333$1,884$1,513$890
20 years$3,300$2,669$2,141$1,707$1,352$768
21 years$3,110$2,486$1,970$1,549$1,210$664
22 years$2,937$2,320$1,815$1,408$1,084$574
23 years$2,780$2,170$1,676$1,282$973$497
24 years$2,636$2,033$1,550$1,170$875$431
25 years$2,503$1,908$1,436$1,068$787$374
26 years$2,381$1,793$1,332$977$709$325
27 years$2,269$1,688$1,237$894$639$282
28 years$2,164$1,590$1,150$819$577$245
29 years$2,067$1,500$1,070$751$521$213
30 years$1,977$1,417$996$689$471$185
31 years$1,892$1,339$929$633$426$161
32 years$1,813$1,267$867$582$385$140
33 years$1,739$1,200$809$535$348$122
34 years$1,669$1,138$756$492$315$106
35 years$1,604$1,079$707$453$286$93
36 years$1,542$1,024$661$417$259$81
37 years$1,484$973$619$385$235$70
38 years$1,429$924$580$354$213$61
39 years$1,377$879$543$327$193$53
40 years$1,328$836$509$301$175$46
41 years$1,281$796$477$278$159$40
42 years$1,236$758$448$257$144$35
43 years$1,194$722$420$237$131$31
44 years$1,154$689$394$219$119$27
45 years$1,115$657$370$202$108$23
46 years$1,079$626$348$187$98$20
47 years$1,044$598$327$172$89$18
48 years$1,010$571$307$159$81$15
49 years$979$545$289$147$73$13
50 years$948$521$271$136$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $971,000, adding $6,299 every year, while hoping to spend $58,923 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: 74/12/14 Blend
58$971,000$971,000$971,000$971,000
59$1,076,539$1,025,076$1,010,026$1,152,515
60$1,123,653$1,012,612$981,168$1,191,144
61$1,173,597$997,561$949,369$1,225,547
62$1,226,598$979,736$914,467$1,261,650
63$1,282,905$958,936$876,295$1,299,606
64$1,342,787$934,950$834,677$1,339,584
65$1,406,541$907,553$789,429$1,381,771
66$1,474,492$876,507$740,359$1,426,374
67$1,546,996$841,561$687,266$1,473,623
68$1,624,441$802,449$629,941$1,523,772
69$1,707,255$758,890$568,165$1,577,101
70$1,795,905$710,585$501,708$1,633,921
71$1,890,904$657,221$430,332$1,694,578
72$1,992,815$598,464$353,788$1,759,452
73$2,102,256$533,963$271,813$1,828,966
74$2,219,905$463,345$184,138$1,903,585
75$2,346,505$386,219$90,476$1,983,827
76$2,482,874$302,169$0$2,070,262
77$2,629,908$210,757$0$2,164,939
78$2,788,595$111,520$0$2,281,656
79$2,960,016$3,968$0$2,407,706
80$3,145,362$0$0$2,543,993
81$3,345,941$0$0$2,706,360
82$3,563,191$0$0$2,882,824
83$3,798,694$0$0$3,074,151
84$4,054,188$0$0$3,281,757
85$4,331,585$0$0$3,507,202
86$4,632,988$0$0$3,752,199
87$4,960,712$0$0$4,018,635
88$5,317,300$0$0$4,308,584
89$5,705,555$0$0$4,624,329
90$6,128,557$0$0$4,968,383
91$6,589,698$0$0$5,343,511
92$7,092,710$0$0$5,752,754
93$7,641,701$0$0$6,199,462
94$8,241,194$0$0$6,687,323
95$8,896,167$0$0$7,220,394
96$9,612,099$0$0$7,803,144
97$10,395,026$0$0$8,440,491
98$11,251,589$0$0$9,137,853
99$12,189,103$0$0$9,901,194
100$13,215,625$0$0$10,737,080