Can I retire at age 59 with 975,000?

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 $975,000?

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$80,515$79,797$79,098$78,415$77,748$75,049
2 years$39,859$39,116$38,397$37,699$37,023$34,332
3 years$26,309$25,563$24,845$24,154$23,489$20,890
4 years$19,535$18,791$18,081$17,402$16,752$14,266
5 years$15,472$14,733$14,032$13,366$12,735$10,367
6 years$12,764$12,030$11,340$10,689$10,077$7,829
7 years$10,830$10,103$9,423$8,788$8,195$6,068
8 years$9,381$8,660$7,992$7,372$6,799$4,790
9 years$8,254$7,540$6,883$6,279$5,725$3,832
10 years$7,353$6,646$6,001$5,413$4,878$3,098
11 years$6,617$5,917$5,283$4,711$4,196$2,524
12 years$6,003$5,311$4,689$4,132$3,636$2,070
13 years$5,485$4,799$4,189$3,648$3,170$1,705
14 years$5,040$4,362$3,764$3,238$2,779$1,411
15 years$4,656$3,985$3,398$2,888$2,447$1,171
16 years$4,320$3,656$3,081$2,586$2,163$975
17 years$4,023$3,367$2,804$2,323$1,918$813
18 years$3,760$3,112$2,559$2,094$1,705$679
19 years$3,525$2,884$2,343$1,892$1,520$568
20 years$3,314$2,680$2,150$1,714$1,357$476
21 years$3,123$2,496$1,978$1,555$1,215$399
22 years$2,949$2,330$1,823$1,414$1,089$335
23 years$2,791$2,179$1,683$1,288$977$282
24 years$2,647$2,042$1,557$1,174$879$237
25 years$2,514$1,916$1,442$1,073$791$199
26 years$2,391$1,801$1,337$981$712$167
27 years$2,278$1,695$1,242$898$642$141
28 years$2,173$1,597$1,154$822$579$119
29 years$2,076$1,507$1,074$754$523$100
30 years$1,985$1,423$1,000$692$473$84
31 years$1,900$1,345$933$636$427$71
32 years$1,820$1,273$870$584$387$60
33 years$1,746$1,205$813$537$350$50
34 years$1,676$1,142$759$494$317$42
35 years$1,610$1,083$710$455$287$36
36 years$1,549$1,028$664$419$260$30
37 years$1,490$977$622$386$236$25
38 years$1,435$928$582$356$214$21
39 years$1,383$883$545$328$194$18
40 years$1,333$840$511$303$176$15
41 years$1,286$799$479$279$159$13
42 years$1,241$761$450$258$145$11
43 years$1,199$725$422$238$131$9
44 years$1,158$691$396$220$119$8
45 years$1,120$659$372$203$108$6
46 years$1,083$629$349$187$98$5
47 years$1,048$600$328$173$89$5
48 years$1,015$573$308$160$81$4
49 years$983$547$290$148$74$3
50 years$952$523$272$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $975,000, adding $4,426 every year, while hoping to spend $41,560 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: 46/44/10 Blend
58$975,000$975,000$975,000$975,000
59$1,079,015$1,027,340$1,012,228$1,125,440
60$1,144,855$1,033,461$1,001,918$1,164,079
61$1,216,018$1,038,488$989,870$1,201,328
62$1,293,003$1,042,324$975,981$1,240,792
63$1,376,358$1,044,867$960,145$1,282,689
64$1,466,686$1,046,005$942,250$1,327,264
65$1,564,652$1,045,623$922,179$1,374,787
66$1,670,983$1,043,595$899,808$1,425,557
67$1,786,482$1,039,790$875,011$1,479,907
68$1,912,031$1,034,068$847,651$1,538,206
69$2,048,601$1,026,280$817,591$1,600,863
70$2,197,260$1,016,269$784,682$1,668,332
71$2,359,182$1,003,868$748,771$1,741,115
72$2,535,662$988,901$709,697$1,819,770
73$2,728,121$971,179$667,294$1,904,915
74$2,938,127$950,504$621,386$1,997,233
75$3,167,403$926,666$571,789$2,097,484
76$3,417,847$899,441$518,313$2,206,506
77$3,691,549$868,595$460,758$2,325,229
78$3,990,808$833,878$398,914$2,454,684
79$4,318,157$795,025$332,565$2,596,008
80$4,676,385$751,757$261,482$2,750,464
81$5,068,562$703,779$185,428$2,919,448
82$5,498,070$650,778$104,154$3,104,503
83$5,968,632$592,425$17,401$3,307,339
84$6,484,348$528,370$0$3,529,845
85$7,049,735$458,243$0$3,782,132
86$7,669,767$381,657$0$4,060,994
87$8,349,923$298,197$0$4,367,159
88$9,096,236$207,430$0$4,703,484
89$9,915,355$108,896$0$5,073,128
90$10,814,599$2,110$0$5,479,576
91$11,802,034$0$0$5,926,682
92$12,886,544$0$0$6,473,624
93$14,077,917$0$0$7,075,702
94$15,386,934$0$0$7,737,357
95$16,825,471$0$0$8,464,609
96$18,406,616$0$0$9,264,089
97$20,144,783$0$0$10,143,103
98$22,055,855$0$0$11,109,700
99$24,157,329$0$0$12,172,748
100$26,468,485$0$0$13,342,017