Can I retire at age 59 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$80,680$79,961$79,260$78,576$77,907$76,024
2 years$39,940$39,197$38,476$37,777$37,099$35,213
3 years$26,362$25,615$24,896$24,204$23,537$21,707
4 years$19,575$18,830$18,118$17,438$16,787$15,027
5 years$15,503$14,763$14,060$13,394$12,761$11,076
6 years$12,790$12,055$11,363$10,711$10,097$8,490
7 years$10,852$10,124$9,443$8,806$8,212$6,681
8 years$9,400$8,678$8,008$7,387$6,813$5,358
9 years$8,271$7,556$6,897$6,292$5,737$4,358
10 years$7,368$6,660$6,013$5,424$4,888$3,583
11 years$6,630$5,929$5,294$4,721$4,204$2,971
12 years$6,015$5,322$4,698$4,141$3,643$2,480
13 years$5,496$4,809$4,198$3,655$3,177$2,081
14 years$5,051$4,371$3,772$3,245$2,785$1,754
15 years$4,665$3,993$3,405$2,894$2,452$1,484
16 years$4,328$3,664$3,087$2,591$2,167$1,259
17 years$4,032$3,374$2,809$2,328$1,922$1,071
18 years$3,768$3,118$2,565$2,098$1,709$913
19 years$3,532$2,890$2,348$1,896$1,523$780
20 years$3,321$2,685$2,155$1,717$1,360$667
21 years$3,129$2,501$1,982$1,558$1,217$571
22 years$2,955$2,335$1,827$1,417$1,091$489
23 years$2,797$2,184$1,687$1,290$979$420
24 years$2,652$2,046$1,560$1,177$880$361
25 years$2,519$1,920$1,445$1,075$792$310
26 years$2,396$1,805$1,340$983$714$266
27 years$2,283$1,698$1,244$900$643$229
28 years$2,178$1,600$1,157$824$580$197
29 years$2,080$1,510$1,076$756$524$170
30 years$1,989$1,426$1,003$694$474$146
31 years$1,904$1,348$935$637$428$126
32 years$1,824$1,275$872$585$387$109
33 years$1,750$1,208$814$538$351$94
34 years$1,680$1,145$761$495$317$81
35 years$1,614$1,086$711$456$287$69
36 years$1,552$1,030$665$420$260$60
37 years$1,493$979$623$387$236$52
38 years$1,438$930$583$357$214$45
39 years$1,385$884$546$329$194$38
40 years$1,336$841$512$303$176$33
41 years$1,289$801$480$280$160$29
42 years$1,244$763$450$258$145$25
43 years$1,201$727$423$238$132$21
44 years$1,161$693$397$220$119$18
45 years$1,122$661$373$203$108$16
46 years$1,085$630$350$188$98$14
47 years$1,050$601$329$173$89$12
48 years$1,017$574$309$160$81$10
49 years$985$548$290$148$74$9
50 years$954$524$273$137$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $977,000, adding $6,081 every year, while hoping to spend $33,010 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: 38/43/19 Blend
58$977,000$977,000$977,000$977,000
59$1,082,927$1,031,146$1,016,002$1,117,697
60$1,158,263$1,046,549$1,014,916$1,158,720
61$1,240,177$1,061,601$1,012,687$1,199,447
62$1,329,305$1,076,250$1,009,242$1,242,777
63$1,426,347$1,090,439$1,004,504$1,288,962
64$1,532,073$1,104,109$998,394$1,338,283
65$1,647,330$1,117,197$990,826$1,391,049
66$1,773,052$1,129,634$981,713$1,447,602
67$1,910,265$1,141,347$970,962$1,508,322
68$2,060,099$1,152,260$958,476$1,573,628
69$2,223,799$1,162,290$944,154$1,643,985
70$2,402,733$1,171,349$927,890$1,719,904
71$2,598,409$1,179,343$909,572$1,801,955
72$2,812,489$1,186,173$889,085$1,890,763
73$3,046,799$1,191,732$866,306$1,987,024
74$3,303,354$1,195,907$841,108$2,091,503
75$3,584,368$1,198,580$813,358$2,205,050
76$3,892,285$1,199,621$782,916$2,328,603
77$4,229,792$1,198,897$749,638$2,463,196
78$4,599,851$1,196,262$713,370$2,609,975
79$5,005,721$1,191,565$673,954$2,770,207
80$5,450,997$1,184,643$631,223$2,945,290
81$5,939,633$1,175,325$585,004$3,136,768
82$6,475,988$1,163,429$535,114$3,346,350
83$7,064,862$1,148,760$481,364$3,575,921
84$7,711,544$1,131,115$423,555$3,827,564
85$8,421,858$1,110,277$361,481$4,103,580
86$9,202,222$1,086,015$294,925$4,406,512
87$10,059,705$1,058,086$223,662$4,739,164
88$11,002,096$1,026,233$147,455$5,104,636
89$12,037,974$990,182$66,059$5,506,350
90$13,176,792$949,646$0$5,948,084
91$14,428,963$904,318$0$6,438,226
92$15,805,963$853,875$0$6,991,728
93$17,320,432$797,975$0$7,600,324
94$18,986,299$736,258$0$8,269,683
95$20,818,907$668,341$0$9,006,057
96$22,835,166$593,820$0$9,816,346
97$25,053,705$512,269$0$10,708,156
98$27,495,049$423,236$0$11,689,879
99$30,181,815$326,246$0$12,770,772
100$33,138,922$220,794$0$13,961,041