Can I retire at age 59 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$75,642$74,969$74,311$73,670$73,043$72,280
2 years$37,447$36,749$36,073$35,418$34,782$34,014
3 years$24,717$24,016$23,342$22,693$22,067$21,318
4 years$18,353$17,654$16,987$16,349$15,739$15,013
5 years$14,535$13,841$13,183$12,557$11,964$11,265
6 years$11,991$11,302$10,653$10,042$9,467$8,795
7 years$10,175$9,492$8,853$8,256$7,699$7,055
8 years$8,813$8,136$7,508$6,926$6,387$5,770
9 years$7,755$7,084$6,467$5,899$5,379$4,789
10 years$6,908$6,244$5,638$5,085$4,583$4,020
11 years$6,216$5,559$4,963$4,426$3,942$3,405
12 years$5,640$4,989$4,405$3,882$3,416$2,905
13 years$5,153$4,509$3,936$3,427$2,979$2,493
14 years$4,735$4,098$3,536$3,042$2,611$2,150
15 years$4,374$3,744$3,193$2,713$2,299$1,862
16 years$4,058$3,435$2,895$2,429$2,032$1,618
17 years$3,780$3,164$2,634$2,183$1,802$1,410
18 years$3,533$2,923$2,404$1,967$1,602$1,232
19 years$3,312$2,709$2,201$1,777$1,428$1,079
20 years$3,113$2,518$2,020$1,610$1,275$947
21 years$2,934$2,345$1,858$1,461$1,141$832
22 years$2,771$2,189$1,713$1,328$1,023$732
23 years$2,622$2,047$1,581$1,210$918$645
24 years$2,486$1,918$1,462$1,103$825$569
25 years$2,362$1,800$1,354$1,008$743$502
26 years$2,247$1,692$1,256$921$669$443
27 years$2,140$1,592$1,166$843$603$392
28 years$2,042$1,500$1,084$773$544$347
29 years$1,950$1,415$1,009$709$491$307
30 years$1,865$1,337$940$650$444$272
31 years$1,785$1,264$876$597$401$241
32 years$1,710$1,196$818$549$363$213
33 years$1,640$1,132$763$505$329$189
34 years$1,575$1,073$713$464$298$168
35 years$1,513$1,018$667$428$270$149
36 years$1,455$966$624$394$244$132
37 years$1,400$918$584$363$221$117
38 years$1,348$872$547$334$201$104
39 years$1,299$829$512$308$182$92
40 years$1,252$789$480$284$165$82
41 years$1,208$751$450$262$150$73
42 years$1,166$715$422$242$136$65
43 years$1,126$681$396$224$123$57
44 years$1,088$650$372$206$112$51
45 years$1,052$619$349$191$102$45
46 years$1,018$591$328$176$92$40
47 years$985$564$308$163$84$36
48 years$953$538$290$150$76$32
49 years$923$514$272$139$69$28
50 years$894$491$256$128$63$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $916,000, adding $2,358 every year, while hoping to spend $50,604 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: 66/29/5 Blend
58$916,000$916,000$916,000$916,000
59$1,011,864$963,316$949,118$1,077,843
60$1,061,232$956,677$927,071$1,115,272
61$1,113,940$948,015$902,590$1,149,849
62$1,170,274$937,180$875,539$1,186,273
63$1,230,549$924,010$845,777$1,224,718
64$1,295,112$908,333$813,157$1,265,376
65$1,364,339$889,967$777,524$1,308,458
66$1,438,647$868,721$738,717$1,354,200
67$1,518,492$844,391$696,567$1,402,863
68$1,604,374$816,762$650,897$1,454,737
69$1,696,842$785,605$601,524$1,510,142
70$1,796,500$750,680$548,255$1,569,435
71$1,904,010$711,730$490,889$1,633,008
72$2,020,100$668,486$429,215$1,701,299
73$2,145,571$620,663$363,014$1,774,792
74$2,281,302$567,958$292,058$1,854,023
75$2,428,259$510,052$216,106$1,939,585
76$2,587,505$446,608$134,909$2,032,137
77$2,760,208$377,270$48,206$2,132,405
78$2,947,654$301,661$0$2,241,197
79$3,151,255$219,382$0$2,361,769
80$3,372,566$130,015$0$2,495,643
81$3,613,297$33,115$0$2,641,353
82$3,875,330$0$0$2,800,125
83$4,160,734$0$0$2,996,223
84$4,471,789$0$0$3,221,516
85$4,811,000$0$0$3,467,258
86$5,181,129$0$0$3,735,455
87$5,585,212$0$0$4,028,317
88$6,026,593$0$0$4,348,274
89$6,508,954$0$0$4,698,002
90$7,036,346$0$0$5,080,448
91$7,613,231$0$0$5,498,856
92$8,244,523$0$0$5,956,798
93$8,935,632$0$0$6,458,207
94$9,692,513$0$0$7,007,415
95$10,521,728$0$0$7,609,192
96$11,430,501$0$0$8,268,792
97$12,426,789$0$0$8,992,000
98$13,519,356$0$0$9,785,188
99$14,717,852$0$0$10,655,376
100$16,032,911$0$0$11,610,294