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%14.2%
1 years$80,515$79,797$79,098$78,415$77,748$76,397
2 years$39,859$39,116$38,397$37,699$37,023$35,666
3 years$26,309$25,563$24,845$24,154$23,489$22,169
4 years$19,535$18,791$18,081$17,402$16,752$15,479
5 years$15,472$14,733$14,032$13,366$12,735$11,512
6 years$12,764$12,030$11,340$10,689$10,077$8,905
7 years$10,830$10,103$9,423$8,788$8,195$7,076
8 years$9,381$8,660$7,992$7,372$6,799$5,731
9 years$8,254$7,540$6,883$6,279$5,725$4,709
10 years$7,353$6,646$6,001$5,413$4,878$3,912
11 years$6,617$5,917$5,283$4,711$4,196$3,279
12 years$6,003$5,311$4,689$4,132$3,636$2,767
13 years$5,485$4,799$4,189$3,648$3,170$2,349
14 years$5,040$4,362$3,764$3,238$2,779$2,003
15 years$4,656$3,985$3,398$2,888$2,447$1,714
16 years$4,320$3,656$3,081$2,586$2,163$1,472
17 years$4,023$3,367$2,804$2,323$1,918$1,268
18 years$3,760$3,112$2,559$2,094$1,705$1,094
19 years$3,525$2,884$2,343$1,892$1,520$946
20 years$3,314$2,680$2,150$1,714$1,357$820
21 years$3,123$2,496$1,978$1,555$1,215$711
22 years$2,949$2,330$1,823$1,414$1,089$618
23 years$2,791$2,179$1,683$1,288$977$537
24 years$2,647$2,042$1,557$1,174$879$467
25 years$2,514$1,916$1,442$1,073$791$407
26 years$2,391$1,801$1,337$981$712$355
27 years$2,278$1,695$1,242$898$642$309
28 years$2,173$1,597$1,154$822$579$270
29 years$2,076$1,507$1,074$754$523$236
30 years$1,985$1,423$1,000$692$473$206
31 years$1,900$1,345$933$636$427$180
32 years$1,820$1,273$870$584$387$157
33 years$1,746$1,205$813$537$350$137
34 years$1,676$1,142$759$494$317$120
35 years$1,610$1,083$710$455$287$105
36 years$1,549$1,028$664$419$260$92
37 years$1,490$977$622$386$236$80
38 years$1,435$928$582$356$214$70
39 years$1,383$883$545$328$194$61
40 years$1,333$840$511$303$176$54
41 years$1,286$799$479$279$159$47
42 years$1,241$761$450$258$145$41
43 years$1,199$725$422$238$131$36
44 years$1,158$691$396$220$119$32
45 years$1,120$659$372$203$108$28
46 years$1,083$629$349$187$98$24
47 years$1,048$600$328$173$89$21
48 years$1,015$573$308$160$81$19
49 years$983$547$290$148$74$16
50 years$952$523$272$137$67$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $975,000, adding $2,944 every year, while hoping to spend $45,740 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: 53/42/5 Blend
58$975,000$975,000$975,000$975,000
59$1,077,487$1,025,812$1,010,699$1,133,265
60$1,138,723$1,027,410$995,891$1,172,916
61$1,204,673$1,027,553$979,053$1,210,744
62$1,275,768$1,026,121$960,070$1,250,777
63$1,352,484$1,022,989$938,820$1,293,230
64$1,435,343$1,018,020$915,175$1,338,342
65$1,524,918$1,011,073$889,003$1,386,378
66$1,621,839$1,001,995$860,164$1,437,633
67$1,726,799$990,626$828,513$1,492,432
68$1,840,561$976,794$793,896$1,551,138
69$1,963,961$960,321$756,155$1,614,154
70$2,097,922$941,013$715,123$1,681,923
71$2,243,457$918,669$670,626$1,754,939
72$2,401,679$893,074$622,482$1,833,751
73$2,573,817$864,001$570,501$1,918,964
74$2,761,217$831,209$514,485$2,011,250
75$2,965,367$794,443$454,225$2,111,354
76$3,187,898$753,435$389,506$2,220,100
77$3,430,610$707,899$320,100$2,338,402
78$3,695,481$657,535$245,772$2,467,270
79$3,984,689$602,024$166,275$2,607,825
80$4,300,634$541,029$81,352$2,761,305
81$4,645,954$474,195$0$2,929,081
82$5,023,557$401,146$0$3,113,168
83$5,436,642$321,484$0$3,319,411
84$5,888,733$234,790$0$3,545,341
85$6,383,710$140,622$0$3,793,029
86$6,925,846$38,510$0$4,064,763
87$7,519,847$0$0$4,363,074
88$8,170,894$0$0$4,724,053
89$8,884,695$0$0$5,139,436
90$9,667,535$0$0$5,595,094
91$10,526,337$0$0$6,095,069
92$11,468,728$0$0$6,643,814
93$12,503,107$0$0$7,246,233
94$13,638,726$0$0$7,907,729
95$14,885,779$0$0$8,634,252
96$16,255,491$0$0$9,432,358
97$17,760,232$0$0$10,309,270
98$19,413,627$0$0$11,272,943
99$21,230,687$0$0$12,332,142
100$23,227,948$0$0$13,496,525