Can I retire at age 59 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$78,202$77,506$76,826$76,163$75,515$74,051
2 years$38,714$37,993$37,294$36,617$35,960$34,490
3 years$25,553$24,829$24,132$23,461$22,814$21,386
4 years$18,974$18,252$17,562$16,902$16,271$14,895
5 years$15,027$14,310$13,629$12,982$12,369$11,048
6 years$12,397$11,685$11,014$10,382$9,787$8,524
7 years$10,519$9,813$9,153$8,536$7,960$6,754
8 years$9,111$8,412$7,762$7,160$6,603$5,454
9 years$8,017$7,324$6,686$6,099$5,561$4,468
10 years$7,142$6,456$5,829$5,257$4,738$3,701
11 years$6,427$5,747$5,131$4,576$4,075$3,092
12 years$5,831$5,158$4,554$4,013$3,531$2,601
13 years$5,327$4,661$4,069$3,543$3,079$2,200
14 years$4,896$4,237$3,656$3,145$2,699$1,870
15 years$4,522$3,871$3,301$2,805$2,377$1,595
16 years$4,196$3,551$2,993$2,512$2,101$1,365
17 years$3,908$3,271$2,723$2,257$1,863$1,171
18 years$3,652$3,022$2,486$2,034$1,656$1,007
19 years$3,424$2,801$2,276$1,838$1,476$868
20 years$3,219$2,603$2,088$1,664$1,318$749
21 years$3,033$2,424$1,921$1,510$1,180$647
22 years$2,865$2,263$1,771$1,373$1,058$560
23 years$2,711$2,117$1,635$1,251$949$485
24 years$2,571$1,983$1,512$1,141$853$421
25 years$2,442$1,861$1,400$1,042$768$365
26 years$2,323$1,749$1,299$953$692$317
27 years$2,213$1,646$1,206$872$624$275
28 years$2,111$1,551$1,121$799$563$239
29 years$2,016$1,463$1,043$733$508$208
30 years$1,928$1,382$972$672$459$181
31 years$1,845$1,306$906$617$415$157
32 years$1,768$1,236$845$567$375$137
33 years$1,696$1,171$789$522$340$119
34 years$1,628$1,109$737$480$308$104
35 years$1,564$1,052$689$442$279$90
36 years$1,504$999$645$407$252$79
37 years$1,447$949$604$375$229$69
38 years$1,394$902$565$346$207$60
39 years$1,343$857$530$319$188$52
40 years$1,295$816$496$294$171$45
41 years$1,249$776$465$271$155$39
42 years$1,206$739$437$250$140$34
43 years$1,164$705$410$231$127$30
44 years$1,125$672$385$213$116$26
45 years$1,088$640$361$197$105$23
46 years$1,052$611$339$182$95$20
47 years$1,018$583$319$168$87$17
48 years$985$557$299$155$79$15
49 years$954$531$281$144$71$13
50 years$925$508$265$133$65$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $947,000, adding $3,968 every year, while hoping to spend $57,337 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: 45/44/11 Blend
58$947,000$947,000$947,000$947,000
59$1,047,687$997,496$982,817$1,091,393
60$1,093,545$985,367$954,736$1,109,974
61$1,142,159$970,722$923,792$1,123,941
62$1,193,749$953,378$889,829$1,137,799
63$1,248,557$933,138$852,683$1,151,559
64$1,306,846$909,799$812,184$1,165,238
65$1,368,904$883,139$768,153$1,178,857
66$1,435,049$852,930$720,403$1,192,446
67$1,505,626$818,925$668,738$1,206,041
68$1,581,015$780,867$612,955$1,219,688
69$1,661,630$738,481$552,841$1,233,443
70$1,747,927$691,478$488,172$1,247,372
71$1,840,406$639,551$418,716$1,261,555
72$1,939,615$582,376$344,231$1,276,088
73$2,046,155$519,612$264,462$1,291,081
74$2,160,686$450,896$179,145$1,306,666
75$2,283,933$375,847$88,003$1,322,994
76$2,416,691$294,061$0$1,340,241
77$2,559,834$205,110$0$1,359,696
78$2,714,322$108,545$0$1,391,597
79$2,881,209$3,890$0$1,425,909
80$3,061,655$0$0$1,462,974
81$3,256,932$0$0$1,556,127
82$3,468,442$0$0$1,659,157
83$3,697,724$0$0$1,770,942
84$3,946,472$0$0$1,892,318
85$4,216,546$0$0$2,024,209
86$4,509,995$0$0$2,167,627
87$4,829,072$0$0$2,323,687
88$5,176,255$0$0$2,493,617
89$5,554,271$0$0$2,678,767
90$5,966,120$0$0$2,880,622
91$6,415,106$0$0$3,100,818
92$6,904,863$0$0$3,341,154
93$7,439,390$0$0$3,603,613
94$8,023,091$0$0$3,890,374
95$8,660,813$0$0$4,203,840
96$9,357,894$0$0$4,546,654
97$10,120,207$0$0$4,921,727
98$10,954,222$0$0$5,332,263
99$11,867,062$0$0$5,781,792
100$12,866,570$0$0$6,274,201