Can I retire at age 59 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$78,450$77,751$77,070$76,404$75,754$74,164
2 years$38,837$38,113$37,412$36,733$36,073$34,479
3 years$25,634$24,908$24,208$23,535$22,887$21,337
4 years$19,034$18,310$17,617$16,956$16,323$14,831
5 years$15,075$14,355$13,672$13,024$12,408$10,978
6 years$12,436$11,722$11,049$10,415$9,818$8,451
7 years$10,552$9,844$9,182$8,563$7,985$6,681
8 years$9,140$8,438$7,787$7,183$6,624$5,383
9 years$8,042$7,347$6,707$6,118$5,579$4,399
10 years$7,165$6,476$5,847$5,274$4,753$3,635
11 years$6,447$5,765$5,148$4,590$4,088$3,029
12 years$5,849$5,175$4,568$4,026$3,543$2,542
13 years$5,344$4,676$4,082$3,554$3,089$2,144
14 years$4,911$4,251$3,667$3,155$2,708$1,817
15 years$4,536$3,883$3,311$2,814$2,384$1,546
16 years$4,209$3,563$3,002$2,520$2,107$1,319
17 years$3,920$3,281$2,732$2,264$1,868$1,129
18 years$3,664$3,032$2,494$2,040$1,661$968
19 years$3,435$2,810$2,283$1,843$1,481$831
20 years$3,229$2,611$2,095$1,670$1,323$715
21 years$3,043$2,432$1,927$1,515$1,184$616
22 years$2,874$2,270$1,776$1,378$1,061$532
23 years$2,720$2,123$1,640$1,255$952$459
24 years$2,579$1,989$1,517$1,144$856$397
25 years$2,449$1,867$1,405$1,045$770$343
26 years$2,330$1,755$1,303$956$694$297
27 years$2,220$1,651$1,210$875$626$257
28 years$2,117$1,556$1,125$801$564$223
29 years$2,022$1,468$1,047$735$510$193
30 years$1,934$1,386$975$674$461$167
31 years$1,851$1,311$909$619$416$145
32 years$1,774$1,240$848$569$377$126
33 years$1,701$1,174$792$523$341$109
34 years$1,633$1,113$740$482$309$95
35 years$1,569$1,056$692$443$280$82
36 years$1,509$1,002$647$408$253$71
37 years$1,452$952$606$376$230$62
38 years$1,398$904$567$347$208$54
39 years$1,347$860$531$320$189$47
40 years$1,299$818$498$295$171$41
41 years$1,253$779$467$272$155$35
42 years$1,209$742$438$251$141$31
43 years$1,168$707$411$232$128$27
44 years$1,129$674$386$214$116$23
45 years$1,091$642$362$198$105$20
46 years$1,055$613$340$183$96$17
47 years$1,021$585$320$169$87$15
48 years$989$558$300$156$79$13
49 years$957$533$282$144$72$11
50 years$928$509$265$133$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $950,000, adding $4,192 every year, while hoping to spend $46,279 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: 69/23/8 Blend
58$950,000$950,000$950,000$950,000
59$1,051,224$1,000,874$986,149$1,121,981
60$1,109,208$1,000,676$969,945$1,169,201
61$1,171,556$998,918$951,646$1,214,802
62$1,238,663$995,473$931,135$1,263,437
63$1,310,965$990,210$908,286$1,315,394
64$1,388,939$982,986$882,969$1,370,992
65$1,473,111$973,652$855,049$1,430,582
66$1,564,057$962,050$824,381$1,494,553
67$1,662,411$948,010$790,819$1,563,335
68$1,768,870$931,356$754,204$1,637,401
69$1,884,200$911,898$714,375$1,717,276
70$2,009,244$889,436$671,162$1,803,537
71$2,144,926$863,758$624,385$1,896,823
72$2,292,267$834,640$573,860$1,997,839
73$2,452,386$801,845$519,392$2,107,364
74$2,626,516$765,122$460,778$2,226,258
75$2,816,012$724,205$397,806$2,355,471
76$3,022,367$678,813$330,255$2,496,051
77$3,247,223$628,649$257,893$2,649,156
78$3,492,386$573,399$180,479$2,816,064
79$3,759,846$512,732$97,761$2,998,186
80$4,051,790$446,295$9,475$3,197,082
81$4,370,628$373,719$0$3,414,471
82$4,719,012$294,612$0$3,659,484
83$5,099,863$208,560$0$3,928,319
84$5,516,396$115,126$0$4,222,505
85$5,972,150$13,848$0$4,544,621
86$6,471,023$0$0$4,897,514
87$7,017,306$0$0$5,308,560
88$7,615,727$0$0$5,762,729
89$8,271,491$0$0$6,260,473
90$8,990,330$0$0$6,806,150
91$9,778,558$0$0$7,404,560
92$10,643,128$0$0$8,060,990
93$11,591,700$0$0$8,781,262
94$12,632,710$0$0$9,571,791
95$13,775,450$0$0$10,439,641
96$15,030,157$0$0$11,392,595
97$16,408,108$0$0$12,439,226
98$17,921,722$0$0$13,588,977
99$19,584,686$0$0$14,852,253
100$21,412,072$0$0$16,240,515