Can I retire at age 59 with 954,000?

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 $954,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$78,780$78,079$77,394$76,726$76,073$74,813
2 years$39,000$38,274$37,570$36,887$36,225$34,959
3 years$25,742$25,012$24,310$23,634$22,983$21,751
4 years$19,114$18,387$17,692$17,027$16,392$15,202
5 years$15,138$14,415$13,729$13,078$12,461$11,318
6 years$12,489$11,771$11,095$10,459$9,860$8,765
7 years$10,597$9,886$9,220$8,599$8,019$6,972
8 years$9,179$8,474$7,820$7,213$6,652$5,654
9 years$8,076$7,378$6,735$6,144$5,602$4,651
10 years$7,195$6,503$5,872$5,296$4,773$3,869
11 years$6,474$5,789$5,169$4,609$4,105$3,246
12 years$5,874$5,196$4,588$4,043$3,557$2,743
13 years$5,366$4,696$4,099$3,569$3,102$2,331
14 years$4,932$4,268$3,683$3,169$2,719$1,991
15 years$4,556$3,899$3,325$2,826$2,394$1,706
16 years$4,227$3,578$3,015$2,530$2,116$1,467
17 years$3,937$3,295$2,743$2,273$1,876$1,265
18 years$3,679$3,045$2,504$2,049$1,668$1,094
19 years$3,449$2,822$2,292$1,851$1,487$947
20 years$3,242$2,622$2,104$1,677$1,328$822
21 years$3,055$2,442$1,935$1,522$1,189$714
22 years$2,886$2,280$1,784$1,384$1,065$621
23 years$2,731$2,132$1,647$1,260$956$541
24 years$2,590$1,998$1,523$1,149$860$472
25 years$2,460$1,875$1,411$1,050$774$411
26 years$2,340$1,762$1,308$960$697$359
27 years$2,229$1,658$1,215$878$628$314
28 years$2,126$1,563$1,129$805$567$274
29 years$2,031$1,474$1,051$738$512$240
30 years$1,942$1,392$979$677$462$210
31 years$1,859$1,316$913$622$418$183
32 years$1,781$1,245$852$572$378$161
33 years$1,708$1,179$795$526$342$141
34 years$1,640$1,118$743$484$310$123
35 years$1,576$1,060$695$445$281$108
36 years$1,515$1,006$650$410$254$94
37 years$1,458$956$608$378$230$83
38 years$1,404$908$569$348$209$73
39 years$1,353$864$534$321$189$64
40 years$1,304$822$500$296$172$56
41 years$1,258$782$469$273$156$49
42 years$1,215$745$440$252$141$43
43 years$1,173$710$413$233$128$38
44 years$1,133$677$387$215$117$33
45 years$1,096$645$364$199$106$29
46 years$1,060$615$342$183$96$25
47 years$1,026$587$321$169$87$22
48 years$993$561$302$157$79$19
49 years$961$535$284$145$72$17
50 years$931$511$267$134$65$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $954,000, adding $3,772 every year, while hoping to spend $52,771 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: 58/23/19 Blend
58$954,000$954,000$954,000$954,000
59$1,055,199$1,004,637$989,850$1,110,903
60$1,106,681$997,716$966,862$1,142,235
61$1,161,646$988,688$941,335$1,170,311
62$1,220,393$977,392$913,129$1,199,736
63$1,283,250$963,662$882,096$1,230,650
64$1,350,578$947,317$848,082$1,263,210
65$1,422,771$928,170$810,927$1,297,590
66$1,500,262$906,018$770,461$1,333,988
67$1,583,526$880,651$726,510$1,372,620
68$1,673,087$851,844$678,888$1,413,731
69$1,769,515$819,358$627,405$1,457,591
70$1,873,442$782,942$571,859$1,504,502
71$1,985,557$742,330$512,040$1,554,802
72$2,106,620$697,241$447,730$1,608,865
73$2,237,465$647,376$378,699$1,667,107
74$2,379,010$592,420$304,708$1,729,991
75$2,532,262$532,042$225,509$1,798,034
76$2,698,329$465,888$140,840$1,871,807
77$2,878,430$393,588$50,430$1,951,946
78$3,073,905$314,749$0$2,039,158
79$3,286,227$228,956$0$2,143,562
80$3,517,018$135,770$0$2,268,211
81$3,768,060$34,730$0$2,403,896
82$4,041,317$0$0$2,551,754
83$4,338,947$0$0$2,731,935
84$4,663,325$0$0$2,937,962
85$5,017,068$0$0$3,162,716
86$5,403,051$0$0$3,408,036
87$5,824,443$0$0$3,675,943
88$6,284,732$0$0$3,968,667
89$6,787,754$0$0$4,288,658
90$7,337,738$0$0$4,638,617
91$7,939,335$0$0$5,021,515
92$8,597,669$0$0$5,440,627
93$9,318,382$0$0$5,899,556
94$10,107,686$0$0$6,402,271
95$10,972,422$0$0$6,953,144
96$11,920,124$0$0$7,556,988
97$12,959,089$0$0$8,219,104
98$14,098,458$0$0$8,945,332
99$15,348,294$0$0$9,742,104
100$16,719,686$0$0$10,616,503