Can I retire at age 59 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$78,285$77,588$76,907$76,243$75,595$74,404
2 years$38,755$38,033$37,334$36,655$35,998$34,801
3 years$25,580$24,855$24,157$23,485$22,838$21,673
4 years$18,994$18,271$17,580$16,920$16,288$15,163
5 years$15,043$14,325$13,643$12,996$12,382$11,301
6 years$12,410$11,697$11,026$10,393$9,798$8,761
7 years$10,530$9,823$9,162$8,545$7,968$6,977
8 years$9,121$8,420$7,770$7,168$6,610$5,664
9 years$8,025$7,331$6,693$6,106$5,567$4,665
10 years$7,149$6,462$5,835$5,263$4,743$3,885
11 years$6,433$5,753$5,137$4,580$4,079$3,264
12 years$5,837$5,164$4,559$4,018$3,535$2,762
13 years$5,333$4,666$4,073$3,547$3,083$2,350
14 years$4,901$4,242$3,660$3,149$2,702$2,010
15 years$4,527$3,875$3,304$2,808$2,379$1,725
16 years$4,200$3,555$2,996$2,514$2,103$1,486
17 years$3,912$3,274$2,726$2,259$1,864$1,283
18 years$3,656$3,025$2,488$2,036$1,658$1,110
19 years$3,427$2,804$2,278$1,840$1,478$963
20 years$3,222$2,606$2,091$1,666$1,320$837
21 years$3,036$2,427$1,923$1,512$1,181$728
22 years$2,868$2,265$1,772$1,375$1,059$634
23 years$2,714$2,119$1,636$1,252$950$553
24 years$2,573$1,985$1,513$1,142$854$483
25 years$2,444$1,863$1,402$1,043$769$422
26 years$2,325$1,751$1,300$954$692$369
27 years$2,215$1,648$1,207$873$624$323
28 years$2,113$1,553$1,122$800$563$283
29 years$2,018$1,465$1,044$733$509$248
30 years$1,930$1,383$973$673$460$217
31 years$1,847$1,308$907$618$415$190
32 years$1,770$1,237$846$568$376$167
33 years$1,698$1,172$790$522$340$146
34 years$1,630$1,111$738$481$308$128
35 years$1,566$1,053$690$442$279$113
36 years$1,506$1,000$646$407$253$99
37 years$1,449$950$604$375$229$87
38 years$1,395$902$566$346$208$76
39 years$1,344$858$530$319$188$67
40 years$1,296$816$497$294$171$59
41 years$1,250$777$466$272$155$52
42 years$1,207$740$437$251$141$45
43 years$1,166$705$410$231$128$40
44 years$1,126$672$385$214$116$35
45 years$1,089$641$362$197$105$31
46 years$1,053$612$340$182$95$27
47 years$1,019$584$319$168$87$24
48 years$987$557$300$156$79$21
49 years$955$532$282$144$72$18
50 years$926$508$265$133$65$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $948,000, adding $3,534 every year, while hoping to spend $39,280 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: 40/36/24 Blend
58$948,000$948,000$948,000$948,000
59$1,048,341$998,097$983,403$1,082,711
60$1,113,479$1,005,210$974,554$1,114,936
61$1,183,943$1,011,356$964,091$1,145,810
62$1,260,237$1,016,444$951,920$1,178,433
63$1,342,913$1,020,381$937,941$1,212,989
64$1,432,576$1,023,066$922,048$1,249,680
65$1,529,895$1,024,392$904,132$1,288,735
66$1,635,603$1,024,246$884,079$1,330,404
67$1,750,507$1,022,507$861,769$1,374,968
68$1,875,496$1,019,047$837,075$1,422,740
69$2,011,546$1,013,730$809,867$1,474,067
70$2,159,734$1,006,412$780,007$1,529,334
71$2,321,241$996,941$747,352$1,588,969
72$2,497,370$985,153$711,751$1,653,448
73$2,689,554$970,878$673,047$1,723,299
74$2,899,371$953,934$631,076$1,799,108
75$3,128,557$934,126$585,667$1,881,524
76$3,379,023$911,252$536,641$1,971,271
77$3,652,875$885,095$483,810$2,069,146
78$3,952,429$855,425$426,978$2,176,037
79$4,280,236$822,001$365,942$2,292,925
80$4,639,107$784,566$300,488$2,420,901
81$5,032,135$742,849$230,393$2,561,170
82$5,462,727$696,562$155,425$2,715,068
83$5,934,634$645,403$75,341$2,884,074
84$6,451,989$589,050$0$3,069,826
85$7,019,343$527,165$0$3,276,729
86$7,641,709$459,388$0$3,524,953
87$8,324,607$385,342$0$3,797,477
88$9,074,120$304,627$0$4,096,828
89$9,896,945$216,819$0$4,425,800
90$10,800,463$121,472$0$4,787,476
91$11,792,801$18,115$0$5,185,261
92$12,882,914$0$0$5,622,914
93$14,080,667$0$0$6,141,721
94$15,396,928$0$0$6,719,880
95$16,843,668$0$0$7,355,490
96$18,434,077$0$0$8,054,362
97$20,182,688$0$0$8,822,902
98$22,105,509$0$0$9,668,162
99$24,220,180$0$0$10,597,917
100$26,546,135$0$0$11,620,730