Can I retire at age 59 with 941,000?

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 $941,000?

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$77,707$77,015$76,339$75,680$75,037$74,161
2 years$38,469$37,752$37,058$36,385$35,732$34,850
3 years$25,391$24,672$23,979$23,312$22,670$21,809
4 years$18,854$18,136$17,451$16,795$16,168$15,336
5 years$14,932$14,219$13,542$12,900$12,291$11,490
6 years$12,319$11,611$10,944$10,316$9,725$8,956
7 years$10,453$9,751$9,095$8,482$7,909$7,172
8 years$9,054$8,358$7,713$7,115$6,562$5,856
9 years$7,966$7,277$6,643$6,060$5,526$4,852
10 years$7,097$6,415$5,792$5,224$4,708$4,065
11 years$6,386$5,711$5,099$4,547$4,049$3,437
12 years$5,794$5,125$4,525$3,988$3,509$2,927
13 years$5,293$4,632$4,043$3,521$3,060$2,507
14 years$4,865$4,210$3,633$3,125$2,682$2,158
15 years$4,493$3,846$3,280$2,787$2,362$1,865
16 years$4,169$3,529$2,974$2,496$2,087$1,617
17 years$3,883$3,250$2,706$2,242$1,851$1,406
18 years$3,629$3,003$2,470$2,021$1,646$1,226
19 years$3,402$2,783$2,261$1,826$1,467$1,071
20 years$3,198$2,586$2,075$1,654$1,310$938
21 years$3,014$2,409$1,909$1,501$1,172$822
22 years$2,847$2,249$1,759$1,365$1,051$722
23 years$2,694$2,103$1,624$1,243$943$634
24 years$2,554$1,971$1,502$1,134$848$558
25 years$2,426$1,849$1,391$1,035$763$492
26 years$2,308$1,738$1,290$947$687$433
27 years$2,199$1,636$1,198$866$620$382
28 years$2,097$1,541$1,114$794$559$337
29 years$2,003$1,454$1,037$728$505$298
30 years$1,915$1,373$966$668$456$263
31 years$1,834$1,298$900$614$412$232
32 years$1,757$1,228$840$564$373$205
33 years$1,685$1,163$784$519$338$182
34 years$1,618$1,102$733$477$306$161
35 years$1,554$1,046$685$439$277$142
36 years$1,495$992$641$404$251$126
37 years$1,438$943$600$373$227$111
38 years$1,385$896$562$344$206$99
39 years$1,334$852$526$317$187$87
40 years$1,286$810$493$292$170$77
41 years$1,241$771$463$270$154$69
42 years$1,198$735$434$249$140$61
43 years$1,157$700$407$230$127$54
44 years$1,118$667$382$212$115$48
45 years$1,081$636$359$196$104$42
46 years$1,045$607$337$181$95$37
47 years$1,012$579$317$167$86$33
48 years$979$553$298$154$78$29
49 years$948$528$280$143$71$26
50 years$919$504$263$132$64$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $941,000, adding $6,000 every year, while hoping to spend $53,474 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: 71/9/20 Blend
58$941,000$941,000$941,000$941,000
59$1,043,171$993,298$978,713$1,111,758
60$1,092,679$985,074$954,603$1,150,003
61$1,145,444$974,654$927,895$1,184,933
62$1,201,742$961,875$898,442$1,221,842
63$1,261,876$946,564$866,096$1,260,920
64$1,326,177$928,534$830,700$1,302,376
65$1,395,007$907,593$792,089$1,346,442
66$1,468,765$883,533$750,091$1,393,374
67$1,547,888$856,134$704,528$1,443,457
68$1,632,855$825,167$655,211$1,497,005
69$1,724,191$790,385$601,946$1,554,367
70$1,822,474$751,530$544,527$1,615,926
71$1,928,338$708,327$482,741$1,682,111
72$2,042,480$660,486$416,363$1,753,391
73$2,165,663$607,700$345,162$1,830,289
74$2,298,729$549,646$268,894$1,913,381
75$2,442,602$485,980$187,303$2,003,305
76$2,598,295$416,341$100,126$2,100,767
77$2,766,925$340,346$7,084$2,206,546
78$2,949,719$257,591$0$2,321,505
79$3,148,026$167,648$0$2,466,274
80$3,363,330$70,068$0$2,625,121
81$3,597,262$0$0$2,797,765
82$3,851,617$0$0$2,989,090
83$4,128,371$0$0$3,204,857
84$4,429,696$0$0$3,439,824
85$4,757,984$0$0$3,695,862
86$5,115,866$0$0$3,975,029
87$5,506,237$0$0$4,279,590
88$5,932,286$0$0$4,612,038
89$6,397,520$0$0$4,975,118
90$6,905,803$0$0$5,371,850
91$7,461,387$0$0$5,805,561
92$8,068,953$0$0$6,279,912
93$8,733,655$0$0$6,798,937
94$9,461,169$0$0$7,367,073
95$10,257,746$0$0$7,989,211
96$11,130,266$0$0$8,670,734
97$12,086,310$0$0$9,417,571
98$13,134,225$0$0$10,236,252
99$14,283,202$0$0$11,133,968
100$15,543,368$0$0$12,118,639