Can I retire at age 59 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$79,771$79,061$78,368$77,691$77,030$74,744
2 years$39,491$38,755$38,043$37,351$36,681$34,397
3 years$26,066$25,327$24,616$23,931$23,272$21,061
4 years$19,354$18,618$17,914$17,241$16,598$14,477
5 years$15,329$14,597$13,902$13,243$12,617$10,593
6 years$12,646$11,919$11,235$10,590$9,984$8,057
7 years$10,730$10,010$9,336$8,707$8,119$6,291
8 years$9,294$8,580$7,918$7,304$6,736$5,004
9 years$8,178$7,471$6,820$6,221$5,673$4,036
10 years$7,285$6,585$5,946$5,363$4,833$3,289
11 years$6,555$5,862$5,234$4,667$4,157$2,703
12 years$5,948$5,262$4,645$4,094$3,602$2,235
13 years$5,434$4,755$4,150$3,614$3,141$1,858
14 years$4,994$4,322$3,729$3,208$2,754$1,551
15 years$4,613$3,948$3,367$2,861$2,424$1,299
16 years$4,280$3,623$3,053$2,562$2,143$1,092
17 years$3,986$3,336$2,778$2,302$1,900$919
18 years$3,725$3,083$2,536$2,075$1,689$775
19 years$3,493$2,857$2,321$1,874$1,506$655
20 years$3,283$2,655$2,130$1,698$1,345$554
21 years$3,094$2,473$1,960$1,541$1,204$470
22 years$2,922$2,308$1,806$1,401$1,079$398
23 years$2,766$2,159$1,668$1,276$968$338
24 years$2,622$2,023$1,542$1,164$870$287
25 years$2,490$1,898$1,428$1,063$783$244
26 years$2,369$1,784$1,325$972$706$207
27 years$2,257$1,679$1,230$889$636$176
28 years$2,153$1,582$1,144$815$574$150
29 years$2,056$1,493$1,064$747$518$128
30 years$1,966$1,410$991$686$468$109
31 years$1,882$1,333$924$630$423$93
32 years$1,804$1,261$862$579$383$79
33 years$1,730$1,194$805$532$347$67
34 years$1,661$1,132$752$490$314$57
35 years$1,596$1,073$703$451$284$49
36 years$1,534$1,019$658$415$258$42
37 years$1,476$968$616$383$233$35
38 years$1,422$920$577$353$212$30
39 years$1,370$874$540$325$192$26
40 years$1,321$832$506$300$174$22
41 years$1,274$792$475$277$158$19
42 years$1,230$754$445$255$143$16
43 years$1,188$719$418$236$130$14
44 years$1,148$685$392$218$118$12
45 years$1,110$653$368$201$107$10
46 years$1,073$623$346$186$97$8
47 years$1,038$595$325$172$88$7
48 years$1,005$568$305$159$80$6
49 years$974$542$287$146$73$5
50 years$943$518$270$135$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $966,000, adding $2,069 every year, while hoping to spend $28,784 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: 35/43/22 Blend
58$966,000$966,000$966,000$966,000
59$1,066,666$1,015,468$1,000,495$1,096,806
60$1,144,840$1,034,600$1,003,386$1,138,346
61$1,230,023$1,053,705$1,005,409$1,180,341
62$1,322,900$1,072,751$1,006,504$1,225,067
63$1,424,223$1,091,703$1,006,610$1,272,786
64$1,534,823$1,110,526$1,005,660$1,323,787
65$1,655,612$1,129,178$1,003,586$1,378,387
66$1,787,595$1,147,618$1,000,317$1,436,940
67$1,931,878$1,165,800$995,776$1,499,833
68$2,089,679$1,183,674$989,884$1,567,496
69$2,262,339$1,201,187$982,558$1,640,405
70$2,451,336$1,218,283$973,712$1,719,083
71$2,658,294$1,234,901$963,254$1,804,109
72$2,885,006$1,250,977$951,088$1,896,124
73$3,133,442$1,266,441$937,116$1,995,834
74$3,405,776$1,281,218$921,231$2,104,020
75$3,704,397$1,295,231$903,325$2,221,543
76$4,031,943$1,308,394$883,283$2,349,356
77$4,391,313$1,320,617$860,985$2,488,510
78$4,785,704$1,331,805$836,306$2,640,167
79$5,218,638$1,341,855$809,113$2,805,608
80$5,693,991$1,350,658$779,271$2,986,249
81$6,216,037$1,358,099$746,636$3,183,654
82$6,789,481$1,364,055$711,056$3,399,546
83$7,419,508$1,368,393$672,376$3,635,832
84$8,111,829$1,370,975$630,432$3,894,615
85$8,872,736$1,371,653$585,052$4,178,214
86$9,709,160$1,370,270$536,056$4,489,193
87$10,628,739$1,366,658$483,259$4,830,380
88$11,639,886$1,360,640$426,464$5,204,894
89$12,751,872$1,352,028$365,467$5,616,181
90$13,974,908$1,340,623$300,056$6,068,041
91$15,320,248$1,326,213$230,007$6,564,669
92$16,800,290$1,308,574$155,089$7,110,692
93$18,428,693$1,287,467$75,058$7,711,217
94$20,220,508$1,262,642$0$8,371,878
95$22,192,320$1,233,831$0$9,101,320
96$24,362,400$1,200,752$0$9,922,933
97$26,750,882$1,163,106$0$10,826,708
98$29,379,949$1,120,576$0$11,821,060
99$32,274,047$1,072,827$0$12,915,263
100$35,460,109$1,019,504$0$14,119,547