Can I retire at age 59 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$79,606$78,897$78,205$77,530$76,871$76,482
2 years$39,409$38,675$37,964$37,274$36,605$36,213
3 years$26,012$25,275$24,565$23,882$23,224$22,841
4 years$19,314$18,579$17,877$17,206$16,563$16,192
5 years$15,297$14,567$13,873$13,215$12,591$12,232
6 years$12,620$11,895$11,212$10,569$9,963$9,617
7 years$10,708$9,989$9,317$8,689$8,103$7,770
8 years$9,275$8,563$7,902$7,289$6,722$6,402
9 years$8,161$7,455$6,806$6,209$5,661$5,354
10 years$7,270$6,571$5,933$5,352$4,823$4,530
11 years$6,542$5,850$5,224$4,658$4,148$3,868
12 years$5,935$5,251$4,636$4,085$3,595$3,327
13 years$5,423$4,745$4,142$3,607$3,135$2,879
14 years$4,984$4,313$3,721$3,202$2,748$2,504
15 years$4,603$3,940$3,360$2,855$2,419$2,188
16 years$4,271$3,615$3,046$2,557$2,138$1,918
17 years$3,978$3,329$2,772$2,297$1,896$1,687
18 years$3,718$3,076$2,530$2,070$1,686$1,487
19 years$3,485$2,851$2,317$1,871$1,503$1,315
20 years$3,276$2,650$2,126$1,694$1,342$1,164
21 years$3,088$2,468$1,955$1,538$1,201$1,033
22 years$2,916$2,304$1,802$1,398$1,077$918
23 years$2,760$2,155$1,664$1,273$966$816
24 years$2,617$2,019$1,539$1,161$869$727
25 years$2,485$1,894$1,425$1,061$782$648
26 years$2,364$1,781$1,322$970$704$579
27 years$2,252$1,676$1,228$888$635$517
28 years$2,149$1,579$1,141$813$573$462
29 years$2,052$1,490$1,062$746$517$413
30 years$1,962$1,407$989$684$467$370
31 years$1,878$1,330$922$629$422$331
32 years$1,800$1,258$860$578$382$297
33 years$1,726$1,192$803$531$346$266
34 years$1,657$1,129$751$489$313$238
35 years$1,592$1,071$702$450$284$214
36 years$1,531$1,017$657$414$257$192
37 years$1,473$966$614$382$233$172
38 years$1,419$918$575$352$211$154
39 years$1,367$873$539$324$191$139
40 years$1,318$830$505$299$174$124
41 years$1,271$790$474$276$158$112
42 years$1,227$753$444$255$143$100
43 years$1,185$717$417$235$130$90
44 years$1,145$684$392$217$118$81
45 years$1,107$652$368$201$107$73
46 years$1,071$622$345$185$97$65
47 years$1,036$593$324$171$88$59
48 years$1,003$567$305$158$80$53
49 years$972$541$287$146$73$47
50 years$941$517$269$135$66$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $964,000, adding $4,362 every year, while hoping to spend $48,318 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: 45/34/21 Blend
58$964,000$964,000$964,000$964,000
59$1,066,827$1,015,735$1,000,793$1,108,206
60$1,124,234$1,014,096$982,910$1,136,099
61$1,185,876$1,010,758$962,808$1,161,227
62$1,252,136$1,005,585$940,362$1,187,485
63$1,323,431$998,436$915,442$1,215,001
64$1,400,221$989,159$887,909$1,243,921
65$1,483,010$977,594$857,620$1,274,405
66$1,572,352$963,572$824,426$1,306,636
67$1,668,857$946,912$788,169$1,340,817
68$1,773,193$927,423$748,685$1,377,178
69$1,886,096$904,904$705,804$1,415,972
70$2,008,374$879,141$659,345$1,457,487
71$2,140,917$849,907$609,121$1,502,042
72$2,284,701$816,963$554,937$1,549,993
73$2,440,801$780,055$496,588$1,601,739
74$2,610,400$738,915$433,861$1,657,725
75$2,794,798$693,259$366,533$1,718,446
76$2,995,426$642,788$294,370$1,784,454
77$3,213,858$587,183$217,130$1,856,364
78$3,451,827$526,110$134,559$1,934,860
79$3,711,238$459,214$46,392$2,020,705
80$3,994,190$386,122$0$2,114,745
81$4,302,992$306,436$0$2,228,609
82$4,640,185$219,740$0$2,364,444
83$5,008,569$125,592$0$2,513,074
84$5,411,222$23,525$0$2,675,860
85$5,851,538$0$0$2,854,307
86$6,333,249$0$0$3,082,613
87$6,860,468$0$0$3,342,233
88$7,437,721$0$0$3,626,607
89$8,069,996$0$0$3,938,206
90$8,762,781$0$0$4,279,752
91$9,522,125$0$0$4,654,240
92$10,354,686$0$0$5,064,972
93$11,267,799$0$0$5,515,583
94$12,269,544$0$0$6,010,076
95$13,368,818$0$0$6,552,863
96$14,575,422$0$0$7,148,801
97$15,900,155$0$0$7,803,243
98$17,354,909$0$0$8,522,083
99$18,952,785$0$0$9,311,817
100$20,708,216$0$0$10,179,599