Can I retire at age 59 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$79,358$78,652$77,962$77,289$76,631$75,084
2 years$39,286$38,555$37,846$37,158$36,491$34,939
3 years$25,931$25,196$24,489$23,808$23,152$21,643
4 years$19,254$18,522$17,821$17,152$16,512$15,059
5 years$15,249$14,521$13,830$13,174$12,552$11,158
6 years$12,580$11,858$11,177$10,536$9,932$8,599
7 years$10,675$9,958$9,288$8,662$8,077$6,806
8 years$9,246$8,536$7,877$7,266$6,701$5,490
9 years$8,135$7,432$6,784$6,189$5,643$4,492
10 years$7,248$6,551$5,915$5,335$4,808$3,716
11 years$6,522$5,832$5,207$4,643$4,135$3,101
12 years$5,917$5,234$4,621$4,073$3,584$2,605
13 years$5,406$4,730$4,129$3,596$3,125$2,201
14 years$4,968$4,300$3,710$3,192$2,739$1,868
15 years$4,589$3,928$3,349$2,847$2,412$1,591
16 years$4,258$3,604$3,037$2,549$2,132$1,360
17 years$3,966$3,319$2,763$2,290$1,890$1,165
18 years$3,706$3,067$2,523$2,064$1,681$1,000
19 years$3,474$2,842$2,309$1,865$1,498$861
20 years$3,266$2,641$2,119$1,689$1,338$742
21 years$3,078$2,460$1,949$1,533$1,197$640
22 years$2,907$2,297$1,797$1,394$1,073$553
23 years$2,751$2,148$1,659$1,269$963$478
24 years$2,609$2,012$1,534$1,158$866$414
25 years$2,478$1,889$1,421$1,057$779$358
26 years$2,357$1,775$1,318$967$702$311
27 years$2,245$1,670$1,224$885$633$269
28 years$2,142$1,574$1,138$811$571$234
29 years$2,046$1,485$1,059$743$516$203
30 years$1,956$1,402$986$682$466$176
31 years$1,873$1,326$919$627$421$153
32 years$1,794$1,254$858$576$381$133
33 years$1,721$1,188$801$530$345$116
34 years$1,652$1,126$748$487$312$100
35 years$1,587$1,068$700$449$283$87
36 years$1,526$1,014$654$413$256$76
37 years$1,469$963$613$381$232$66
38 years$1,414$915$574$351$211$57
39 years$1,363$870$537$323$191$50
40 years$1,314$828$504$298$173$43
41 years$1,268$788$472$275$157$38
42 years$1,223$750$443$254$143$33
43 years$1,182$715$416$235$129$29
44 years$1,142$681$390$217$117$25
45 years$1,104$650$366$200$107$22
46 years$1,068$620$344$185$97$19
47 years$1,033$592$323$171$88$16
48 years$1,000$565$304$158$80$14
49 years$968$539$286$146$72$12
50 years$938$515$269$135$66$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $961,000, adding $4,355 every year, while hoping to spend $50,059 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: 43/29/28 Blend
58$961,000$961,000$961,000$961,000
59$1,063,514$1,012,581$997,686$1,100,401
60$1,118,730$1,008,935$977,846$1,123,611
61$1,177,901$1,003,433$955,663$1,143,670
62$1,241,376$995,930$931,007$1,164,448
63$1,309,540$986,275$903,740$1,186,041
64$1,382,816$974,305$873,718$1,208,558
65$1,461,667$959,850$840,791$1,232,124
66$1,546,601$942,726$804,802$1,256,880
67$1,638,177$922,743$765,586$1,282,983
68$1,737,010$899,696$722,972$1,310,614
69$1,843,774$873,370$676,780$1,339,974
70$1,959,209$843,536$626,823$1,371,292
71$2,084,131$809,952$572,904$1,404,822
72$2,219,435$772,362$514,819$1,440,852
73$2,366,106$730,496$452,354$1,479,706
74$2,525,226$684,068$385,285$1,521,744
75$2,697,987$632,775$313,380$1,567,371
76$2,885,698$576,297$236,394$1,617,041
77$3,089,799$514,296$154,074$1,671,259
78$3,311,877$446,415$66,153$1,730,592
79$3,553,674$372,275$0$1,795,670
80$3,817,110$291,477$0$1,875,466
81$4,104,297$203,601$0$1,984,127
82$4,417,558$108,201$0$2,102,834
83$4,759,453$4,807$0$2,232,654
84$5,132,798$0$0$2,374,771
85$5,540,692$0$0$2,564,663
86$5,986,548$0$0$2,774,020
87$6,474,123$0$0$3,003,085
88$7,007,555$0$0$3,253,818
89$7,591,399$0$0$3,528,375
90$8,230,671$0$0$3,829,130
91$8,930,894$0$0$4,158,700
92$9,698,152$0$0$4,519,964
93$10,539,145$0$0$4,916,095
94$11,461,249$0$0$5,350,587
95$12,472,592$0$0$5,827,288
96$13,582,124$0$0$6,350,437
97$14,799,705$0$0$6,924,704
98$16,136,193$0$0$7,555,231
99$17,603,550$0$0$8,247,685
100$19,214,955$0$0$9,008,306