Can I retire at age 59 with 955,000?

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 $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$78,863$78,161$77,475$76,806$76,153$75,578
2 years$39,041$38,314$37,609$36,926$36,263$35,684
3 years$25,769$25,039$24,336$23,659$23,007$22,441
4 years$19,134$18,406$17,710$17,045$16,409$15,860
5 years$15,154$14,431$13,744$13,092$12,474$11,944
6 years$12,502$11,784$11,107$10,470$9,870$9,360
7 years$10,608$9,896$9,230$8,608$8,027$7,537
8 years$9,188$8,483$7,828$7,221$6,659$6,190
9 years$8,085$7,386$6,742$6,151$5,608$5,159
10 years$7,202$6,510$5,878$5,302$4,778$4,349
11 years$6,481$5,796$5,175$4,614$4,109$3,699
12 years$5,880$5,202$4,592$4,047$3,561$3,170
13 years$5,372$4,701$4,103$3,573$3,105$2,733
14 years$4,937$4,273$3,687$3,172$2,722$2,368
15 years$4,560$3,903$3,329$2,829$2,397$2,060
16 years$4,231$3,581$3,018$2,533$2,118$1,799
17 years$3,941$3,298$2,746$2,276$1,878$1,576
18 years$3,683$3,048$2,507$2,051$1,670$1,383
19 years$3,453$2,825$2,295$1,853$1,489$1,217
20 years$3,246$2,625$2,106$1,678$1,330$1,074
21 years$3,059$2,445$1,937$1,523$1,190$948
22 years$2,889$2,282$1,785$1,385$1,067$839
23 years$2,734$2,134$1,649$1,261$957$743
24 years$2,592$2,000$1,525$1,150$861$659
25 years$2,462$1,877$1,412$1,051$774$585
26 years$2,342$1,764$1,310$961$697$519
27 years$2,231$1,660$1,216$879$629$462
28 years$2,128$1,564$1,131$806$567$411
29 years$2,033$1,476$1,052$739$512$366
30 years$1,944$1,394$980$678$463$326
31 years$1,861$1,317$914$623$419$290
32 years$1,783$1,247$852$572$379$259
33 years$1,710$1,181$796$526$343$231
34 years$1,642$1,119$744$484$310$206
35 years$1,577$1,061$695$446$281$184
36 years$1,517$1,007$650$411$255$164
37 years$1,460$957$609$378$231$146
38 years$1,405$909$570$349$209$131
39 years$1,354$865$534$321$190$117
40 years$1,306$823$501$296$172$104
41 years$1,260$783$469$274$156$93
42 years$1,216$746$440$252$142$83
43 years$1,174$710$413$233$129$74
44 years$1,135$677$388$215$117$66
45 years$1,097$646$364$199$106$59
46 years$1,061$616$342$184$96$53
47 years$1,027$588$321$170$87$47
48 years$994$561$302$157$79$42
49 years$962$536$284$145$72$38
50 years$932$512$267$134$65$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $955,000, adding $6,114 every year, while hoping to spend $29,265 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: 62/9/29 Blend
58$955,000$955,000$955,000$955,000
59$1,058,717$1,008,102$993,299$1,115,751
60$1,135,568$1,026,361$995,437$1,173,521
61$1,219,277$1,044,534$996,665$1,232,874
62$1,310,513$1,062,586$996,923$1,297,070
63$1,410,012$1,080,479$996,146$1,366,588
64$1,518,583$1,098,172$994,267$1,441,959
65$1,637,117$1,115,621$991,214$1,523,765
66$1,766,597$1,132,781$986,914$1,612,650
67$1,908,102$1,149,599$981,288$1,709,325
68$2,062,822$1,166,023$974,255$1,814,573
69$2,232,067$1,181,995$965,729$1,929,258
70$2,417,278$1,197,453$955,621$2,054,331
71$2,620,043$1,212,331$943,837$2,190,845
72$2,842,110$1,226,558$930,278$2,339,956
73$3,085,405$1,240,059$914,842$2,502,944
74$3,352,049$1,252,754$897,422$2,681,216
75$3,644,376$1,264,557$877,903$2,876,327
76$3,964,958$1,275,376$856,169$3,089,989
77$4,316,629$1,285,115$832,095$3,324,094
78$4,702,508$1,293,668$805,554$3,580,723
79$5,126,033$1,300,927$776,409$3,862,175
80$5,590,989$1,306,774$744,519$4,170,983
81$6,101,547$1,311,083$709,738$4,509,940
82$6,662,300$1,313,721$671,910$4,882,126
83$7,278,310$1,314,549$630,874$5,290,938
84$7,955,152$1,313,416$586,462$5,740,120
85$8,698,966$1,310,162$538,498$6,233,801
86$9,516,520$1,304,619$486,797$6,776,532
87$10,415,267$1,296,608$431,167$7,373,332
88$11,403,421$1,285,938$371,407$8,029,736
89$12,490,029$1,272,408$307,308$8,751,842
90$13,685,059$1,255,803$238,651$9,546,376
91$14,999,496$1,235,899$165,206$10,420,752
92$16,445,440$1,212,453$86,736$11,383,146
93$18,036,225$1,185,213$2,991$12,442,566
94$19,786,540$1,153,908$0$13,608,949
95$21,712,571$1,118,254$0$14,919,972
96$23,832,154$1,077,949$0$16,363,704
97$26,164,938$1,032,673$0$17,952,615
98$28,732,576$982,088$0$19,701,466
99$31,558,926$925,838$0$21,626,522
100$34,670,276$863,544$0$23,745,708