Can I retire at age 59 with 923,000?

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 $923,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$76,220$75,542$74,879$74,233$73,601$72,742
2 years$37,733$37,030$36,349$35,689$35,048$34,183
3 years$24,905$24,200$23,520$22,866$22,236$21,392
4 years$18,493$17,789$17,117$16,474$15,859$15,043
5 years$14,646$13,947$13,283$12,653$12,056$11,270
6 years$12,083$11,389$10,735$10,119$9,539$8,784
7 years$10,253$9,564$8,921$8,319$7,758$7,035
8 years$8,880$8,198$7,565$6,979$6,436$5,744
9 years$7,814$7,138$6,516$5,945$5,420$4,759
10 years$6,961$6,292$5,681$5,124$4,618$3,988
11 years$6,264$5,601$5,001$4,460$3,972$3,371
12 years$5,683$5,027$4,439$3,912$3,442$2,871
13 years$5,192$4,543$3,966$3,453$3,001$2,459
14 years$4,772$4,130$3,563$3,066$2,631$2,117
15 years$4,407$3,773$3,217$2,734$2,317$1,829
16 years$4,089$3,461$2,917$2,448$2,047$1,586
17 years$3,809$3,188$2,654$2,199$1,815$1,380
18 years$3,560$2,946$2,423$1,982$1,614$1,203
19 years$3,337$2,730$2,218$1,791$1,439$1,051
20 years$3,137$2,537$2,036$1,622$1,285$920
21 years$2,956$2,363$1,872$1,472$1,150$806
22 years$2,792$2,206$1,726$1,339$1,031$708
23 years$2,642$2,063$1,593$1,219$925$622
24 years$2,505$1,933$1,474$1,112$832$548
25 years$2,380$1,814$1,365$1,015$748$482
26 years$2,264$1,705$1,266$928$674$425
27 years$2,157$1,604$1,175$850$608$375
28 years$2,057$1,512$1,093$779$548$331
29 years$1,965$1,426$1,017$714$495$292
30 years$1,879$1,347$947$655$447$258
31 years$1,799$1,273$883$602$405$228
32 years$1,723$1,205$824$553$366$202
33 years$1,653$1,141$769$509$331$178
34 years$1,587$1,081$719$468$300$158
35 years$1,525$1,026$672$431$272$140
36 years$1,466$973$629$397$246$123
37 years$1,411$925$588$366$223$109
38 years$1,358$879$551$337$202$97
39 years$1,309$836$516$311$183$86
40 years$1,262$795$484$287$166$76
41 years$1,217$757$454$264$151$67
42 years$1,175$721$426$244$137$60
43 years$1,135$687$399$225$124$53
44 years$1,097$655$375$208$113$47
45 years$1,060$624$352$192$102$41
46 years$1,025$595$331$177$93$37
47 years$992$568$311$164$84$33
48 years$961$542$292$151$77$29
49 years$930$518$274$140$70$26
50 years$901$495$258$129$63$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $923,000, adding $6,890 every year, while hoping to spend $27,594 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: 71/17/12 Blend
58$923,000$923,000$923,000$923,000
59$1,024,253$975,334$961,028$1,093,912
60$1,099,367$993,766$963,862$1,159,412
61$1,181,218$1,012,175$965,867$1,227,064
62$1,270,463$1,030,533$966,985$1,300,385
63$1,367,828$1,048,807$967,156$1,379,928
64$1,474,109$1,066,961$966,318$1,466,304
65$1,590,183$1,084,957$964,405$1,560,184
66$1,717,018$1,102,756$961,348$1,662,308
67$1,855,675$1,120,312$957,075$1,773,491
68$2,007,326$1,137,580$951,509$1,894,633
69$2,173,260$1,154,508$944,572$2,026,722
70$2,354,897$1,171,044$936,180$2,170,850
71$2,553,800$1,187,128$926,245$2,328,219
72$2,771,690$1,202,700$914,677$2,500,153
73$3,010,464$1,217,693$901,379$2,688,112
74$3,272,207$1,232,037$886,252$2,893,705
75$3,559,222$1,245,655$869,190$3,118,704
76$3,874,038$1,258,469$850,084$3,365,063
77$4,219,448$1,270,391$828,819$3,634,936
78$4,598,521$1,281,330$805,275$3,930,695
79$5,014,645$1,291,190$779,326$4,254,955
80$5,471,545$1,299,865$750,840$4,610,599
81$5,973,330$1,307,245$719,681$5,000,803
82$6,524,523$1,313,214$685,703$5,429,068
83$7,130,108$1,317,645$648,758$5,899,253
84$7,795,576$1,320,406$608,688$6,415,611
85$8,526,974$1,321,355$565,328$6,982,828
86$9,330,966$1,320,343$518,508$7,606,071
87$10,214,895$1,317,209$468,048$8,291,033
88$11,186,847$1,311,786$413,761$9,043,990
89$12,255,735$1,303,893$355,451$9,871,857
90$13,431,376$1,293,340$292,915$10,782,256
91$14,724,587$1,279,924$225,938$11,783,591
92$16,147,287$1,263,432$154,299$12,885,119
93$17,712,608$1,243,638$77,765$14,097,047
94$19,435,017$1,220,299$0$15,430,622
95$21,330,458$1,193,163$0$16,898,741
96$23,416,495$1,161,958$0$18,525,226
97$25,712,483$1,126,400$0$20,315,201
98$28,239,748$1,086,185$0$22,285,299
99$31,021,789$1,040,995$0$24,453,847
100$34,084,499$990,491$0$26,841,043