Can I retire at age 59 with 977,000?

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 $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%18.4%
1 years$80,680$79,961$79,260$78,576$77,907$75,263
2 years$39,940$39,197$38,476$37,777$37,099$34,461
3 years$26,362$25,615$24,896$24,204$23,537$20,989
4 years$19,575$18,830$18,118$17,438$16,787$14,348
5 years$15,503$14,763$14,060$13,394$12,761$10,437
6 years$12,790$12,055$11,363$10,711$10,097$7,891
7 years$10,852$10,124$9,443$8,806$8,212$6,123
8 years$9,400$8,678$8,008$7,387$6,813$4,839
9 years$8,271$7,556$6,897$6,292$5,737$3,876
10 years$7,368$6,660$6,013$5,424$4,888$3,137
11 years$6,630$5,929$5,294$4,721$4,204$2,560
12 years$6,015$5,322$4,698$4,141$3,643$2,102
13 years$5,496$4,809$4,198$3,655$3,177$1,734
14 years$5,051$4,371$3,772$3,245$2,785$1,437
15 years$4,665$3,993$3,405$2,894$2,452$1,194
16 years$4,328$3,664$3,087$2,591$2,167$995
17 years$4,032$3,374$2,809$2,328$1,922$831
18 years$3,768$3,118$2,565$2,098$1,709$696
19 years$3,532$2,890$2,348$1,896$1,523$583
20 years$3,321$2,685$2,155$1,717$1,360$489
21 years$3,129$2,501$1,982$1,558$1,217$411
22 years$2,955$2,335$1,827$1,417$1,091$345
23 years$2,797$2,184$1,687$1,290$979$291
24 years$2,652$2,046$1,560$1,177$880$245
25 years$2,519$1,920$1,445$1,075$792$206
26 years$2,396$1,805$1,340$983$714$174
27 years$2,283$1,698$1,244$900$643$146
28 years$2,178$1,600$1,157$824$580$123
29 years$2,080$1,510$1,076$756$524$104
30 years$1,989$1,426$1,003$694$474$88
31 years$1,904$1,348$935$637$428$74
32 years$1,824$1,275$872$585$387$63
33 years$1,750$1,208$814$538$351$53
34 years$1,680$1,145$761$495$317$45
35 years$1,614$1,086$711$456$287$38
36 years$1,552$1,030$665$420$260$32
37 years$1,493$979$623$387$236$27
38 years$1,438$930$583$357$214$23
39 years$1,385$884$546$329$194$19
40 years$1,336$841$512$303$176$16
41 years$1,289$801$480$280$160$14
42 years$1,244$763$450$258$145$12
43 years$1,201$727$423$238$132$10
44 years$1,161$693$397$220$119$8
45 years$1,122$661$373$203$108$7
46 years$1,085$630$350$188$98$6
47 years$1,050$601$329$173$89$5
48 years$1,017$574$309$160$81$4
49 years$985$548$290$148$74$4
50 years$954$524$273$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $977,000, adding $4,988 every year, while hoping to spend $27,665 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: 49/24/27 Blend
58$977,000$977,000$977,000$977,000
59$1,081,799$1,030,018$1,014,875$1,126,299
60$1,162,707$1,051,054$1,019,438$1,179,004
61$1,250,941$1,072,193$1,023,226$1,233,094
62$1,347,218$1,093,411$1,026,185$1,291,317
63$1,452,329$1,114,683$1,028,257$1,354,078
64$1,567,143$1,135,979$1,029,380$1,421,822
65$1,692,619$1,157,269$1,029,492$1,495,042
66$1,829,810$1,178,520$1,028,524$1,574,279
67$1,979,878$1,199,695$1,026,407$1,660,133
68$2,144,102$1,220,756$1,023,068$1,753,262
69$2,323,887$1,241,660$1,018,428$1,854,394
70$2,520,785$1,262,363$1,012,406$1,964,334
71$2,736,502$1,282,815$1,004,919$2,083,966
72$2,972,918$1,302,966$995,877$2,214,269
73$3,232,104$1,322,759$985,186$2,356,319
74$3,516,338$1,342,135$972,750$2,511,306
75$3,828,133$1,361,028$958,466$2,680,541
76$4,170,255$1,379,370$942,227$2,865,471
77$4,545,751$1,397,089$923,920$3,067,691
78$4,957,975$1,414,104$903,430$3,288,961
79$5,410,627$1,430,333$880,633$3,531,223
80$5,907,777$1,445,686$855,400$3,796,617
81$6,453,913$1,460,067$827,599$4,087,504
82$7,053,976$1,473,374$797,087$4,406,488
83$7,713,411$1,485,499$763,719$4,756,441
84$8,438,216$1,496,326$727,341$5,140,530
85$9,234,999$1,505,731$687,792$5,562,247
86$10,111,041$1,513,584$644,905$6,025,444
87$11,074,363$1,519,745$598,505$6,534,369
88$12,133,801$1,524,066$548,408$7,093,705
89$13,299,092$1,526,389$494,423$7,708,616
90$14,580,964$1,526,546$436,351$8,384,797
91$15,991,236$1,524,360$373,982$9,128,528
92$17,542,930$1,519,642$307,099$9,946,732
93$19,250,396$1,512,191$235,473$10,847,044
94$21,129,443$1,501,795$158,868$11,837,881
95$23,197,491$1,488,228$77,035$12,928,523
96$25,473,735$1,471,251$0$14,129,203
97$27,979,324$1,450,610$0$15,454,168
98$30,737,561$1,426,037$0$16,936,767
99$33,774,126$1,397,246$0$18,568,575
100$37,117,313$1,363,937$0$20,364,796