Can I retire at age 59 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$73,826$73,168$72,527$71,900$71,289$70,282
2 years$36,547$35,867$35,207$34,567$33,947$32,934
3 years$24,123$23,439$22,781$22,148$21,537$20,550
4 years$17,912$17,230$16,579$15,956$15,361$14,407
5 years$14,186$13,509$12,866$12,256$11,677$10,760
6 years$11,703$11,031$10,398$9,801$9,240$8,360
7 years$9,930$9,264$8,640$8,058$7,514$6,672
8 years$8,601$7,941$7,328$6,760$6,234$5,429
9 years$7,568$6,914$6,311$5,758$5,250$4,482
10 years$6,742$6,094$5,502$4,963$4,473$3,742
11 years$6,067$5,425$4,844$4,320$3,847$3,152
12 years$5,504$4,869$4,299$3,789$3,334$2,674
13 years$5,029$4,401$3,841$3,345$2,907$2,281
14 years$4,622$4,000$3,451$2,969$2,548$1,956
15 years$4,269$3,654$3,116$2,648$2,244$1,683
16 years$3,961$3,353$2,825$2,371$1,983$1,454
17 years$3,689$3,088$2,571$2,130$1,758$1,259
18 years$3,448$2,853$2,347$1,920$1,563$1,093
19 years$3,232$2,644$2,148$1,735$1,393$951
20 years$3,038$2,457$1,972$1,571$1,245$829
21 years$2,863$2,289$1,813$1,426$1,114$723
22 years$2,704$2,136$1,671$1,297$998$632
23 years$2,559$1,998$1,543$1,181$896$553
24 years$2,427$1,872$1,427$1,077$806$484
25 years$2,305$1,757$1,322$984$725$424
26 years$2,193$1,651$1,226$899$653$372
27 years$2,089$1,554$1,138$823$589$327
28 years$1,993$1,464$1,058$754$531$287
29 years$1,903$1,381$985$692$480$252
30 years$1,820$1,305$917$635$433$222
31 years$1,742$1,233$855$583$392$195
32 years$1,669$1,167$798$536$354$171
33 years$1,601$1,105$745$493$321$151
34 years$1,537$1,047$696$453$290$133
35 years$1,477$993$651$417$263$117
36 years$1,420$943$609$384$238$103
37 years$1,366$896$570$354$216$91
38 years$1,316$851$534$326$196$80
39 years$1,268$809$500$301$178$70
40 years$1,222$770$469$278$161$62
41 years$1,179$733$439$256$146$55
42 years$1,138$698$412$236$133$48
43 years$1,099$665$387$218$120$42
44 years$1,062$634$363$201$109$37
45 years$1,027$605$341$186$99$33
46 years$993$577$320$172$90$29
47 years$961$550$301$159$82$26
48 years$930$525$283$147$74$23
49 years$901$502$266$136$67$20
50 years$873$479$250$125$61$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $894,000, adding $6,194 every year, while hoping to spend $40,121 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: 38/34/28 Blend
58$894,000$894,000$894,000$894,000
59$991,577$944,195$930,338$1,020,797
60$1,050,030$947,772$918,816$1,046,396
61$1,113,099$950,180$905,563$1,069,918
62$1,181,215$951,319$890,479$1,094,573
63$1,254,848$951,082$873,460$1,120,491
64$1,334,516$949,359$854,394$1,147,816
65$1,420,788$946,028$833,167$1,176,712
66$1,514,289$940,964$809,659$1,207,359
67$1,615,708$934,033$783,743$1,239,962
68$1,725,800$925,091$755,289$1,274,750
69$1,845,399$913,987$724,158$1,311,976
70$1,975,419$900,562$690,207$1,351,925
71$2,116,867$884,645$653,285$1,394,915
72$2,270,852$866,057$613,234$1,441,301
73$2,438,592$844,607$569,891$1,491,477
74$2,621,430$820,094$523,083$1,545,884
75$2,820,841$792,303$472,631$1,605,013
76$3,038,450$761,010$418,348$1,669,408
77$3,276,047$725,975$360,038$1,739,678
78$3,535,601$686,945$297,496$1,816,498
79$3,819,279$643,652$230,510$1,900,618
80$4,129,469$595,814$158,855$1,992,872
81$4,468,797$543,131$82,299$2,094,188
82$4,840,158$485,288$599$2,205,594
83$5,246,737$421,950$0$2,328,231
84$5,692,043$352,765$0$2,489,236
85$6,179,940$277,358$0$2,666,018
86$6,714,682$195,337$0$2,860,037
87$7,300,957$106,286$0$3,073,108
88$7,943,924$9,764$0$3,307,234
89$8,649,270$0$0$3,564,629
90$9,423,256$0$0$3,883,169
91$10,272,778$0$0$4,236,934
92$11,205,435$0$0$4,625,449
93$12,229,596$0$0$5,052,218
94$13,354,478$0$0$5,521,098
95$14,590,239$0$0$6,036,342
96$15,948,066$0$0$6,602,632
97$17,440,284$0$0$7,225,126
98$19,080,473$0$0$7,909,509
99$20,883,591$0$0$8,662,043
100$22,866,119$0$0$9,489,626