Can I retire at age 59 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$80,349$79,634$78,935$78,254$77,588$75,867
2 years$39,777$39,036$38,318$37,622$36,947$35,221
3 years$26,255$25,511$24,794$24,105$23,441$21,765
4 years$19,495$18,753$18,044$17,366$16,718$15,105
5 years$15,440$14,703$14,003$13,339$12,709$11,163
6 years$12,737$12,006$11,316$10,667$10,056$8,580
7 years$10,808$10,082$9,404$8,770$8,178$6,771
8 years$9,361$8,642$7,975$7,357$6,785$5,446
9 years$8,237$7,525$6,869$6,267$5,714$4,443
10 years$7,338$6,633$5,989$5,402$4,868$3,664
11 years$6,603$5,905$5,272$4,701$4,187$3,048
12 years$5,991$5,300$4,679$4,124$3,628$2,552
13 years$5,473$4,789$4,180$3,641$3,164$2,149
14 years$5,030$4,353$3,756$3,232$2,773$1,818
15 years$4,646$3,977$3,391$2,882$2,442$1,543
16 years$4,311$3,649$3,075$2,581$2,158$1,314
17 years$4,015$3,360$2,798$2,319$1,914$1,122
18 years$3,752$3,105$2,554$2,090$1,702$960
19 years$3,518$2,878$2,338$1,888$1,517$823
20 years$3,307$2,674$2,146$1,710$1,355$706
21 years$3,116$2,491$1,974$1,552$1,212$607
22 years$2,943$2,325$1,819$1,411$1,087$522
23 years$2,786$2,175$1,680$1,285$975$450
24 years$2,641$2,038$1,553$1,172$877$388
25 years$2,509$1,912$1,439$1,070$789$335
26 years$2,386$1,797$1,334$979$711$289
27 years$2,273$1,691$1,239$896$641$250
28 years$2,169$1,594$1,152$821$578$216
29 years$2,071$1,503$1,072$753$522$186
30 years$1,981$1,420$998$691$472$161
31 years$1,896$1,342$931$634$426$139
32 years$1,817$1,270$868$583$386$121
33 years$1,743$1,203$811$536$349$104
34 years$1,673$1,140$758$493$316$90
35 years$1,607$1,081$708$454$286$78
36 years$1,545$1,026$663$418$259$68
37 years$1,487$975$620$385$235$59
38 years$1,432$926$581$355$213$51
39 years$1,380$881$544$328$193$44
40 years$1,330$838$510$302$175$38
41 years$1,283$798$478$279$159$33
42 years$1,239$760$449$257$144$29
43 years$1,196$724$421$237$131$25
44 years$1,156$690$395$219$119$21
45 years$1,118$658$371$202$108$19
46 years$1,081$628$348$187$98$16
47 years$1,046$599$327$173$89$14
48 years$1,013$572$308$160$81$12
49 years$981$546$289$148$73$10
50 years$950$522$272$136$67$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $973,000, adding $2,685 every year, while hoping to spend $52,764 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: 46/39/15 Blend
58$973,000$973,000$973,000$973,000
59$1,075,016$1,023,447$1,008,365$1,119,774
60$1,128,527$1,017,455$986,005$1,145,168
61$1,185,727$1,009,401$961,127$1,167,139
62$1,246,939$999,129$933,592$1,189,826
63$1,312,512$986,472$903,252$1,213,319
64$1,382,832$971,253$869,956$1,237,716
65$1,458,324$953,287$833,542$1,263,131
66$1,539,450$932,376$793,843$1,289,693
67$1,626,722$908,309$750,684$1,317,547
68$1,720,697$880,867$703,882$1,346,859
69$1,821,992$849,813$653,246$1,377,814
70$1,931,281$814,900$598,576$1,410,622
71$2,049,306$775,864$539,662$1,445,520
72$2,176,883$732,429$476,288$1,482,773
73$2,314,906$684,299$408,225$1,522,681
74$2,464,361$631,164$335,235$1,565,577
75$2,626,331$572,696$257,070$1,611,839
76$2,802,005$508,547$173,471$1,661,888
77$2,992,694$438,350$84,166$1,716,196
78$3,199,836$361,717$0$1,775,289
79$3,425,017$278,238$0$1,841,542
80$3,669,978$187,481$0$1,928,320
81$3,936,637$88,989$0$2,022,925
82$4,227,104$0$0$2,126,227
83$4,543,699$0$0$2,246,800
84$4,888,978$0$0$2,420,049
85$5,265,753$0$0$2,609,209
86$5,677,119$0$0$2,815,845
87$6,126,483$0$0$3,041,684
88$6,617,597$0$0$3,288,625
89$7,154,591$0$0$3,558,759
90$7,742,011$0$0$3,854,391
91$8,384,863$0$0$4,178,055
92$9,088,661$0$0$4,532,543
93$9,859,476$0$0$4,920,932
94$10,703,993$0$0$5,346,608
95$11,629,574$0$0$5,813,301
96$12,644,328$0$0$6,325,118
97$13,757,186$0$0$6,886,585
98$14,977,985$0$0$7,502,685
99$16,317,558$0$0$8,178,908
100$17,787,840$0$0$8,921,301