Can I retire at age 59 with 970,000?

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 $970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$80,102$79,388$78,692$78,013$77,349$76,991
2 years$39,654$38,916$38,200$37,506$36,833$36,471
3 years$26,174$25,432$24,718$24,030$23,368$23,014
4 years$19,435$18,695$17,988$17,313$16,666$16,323
5 years$15,392$14,657$13,960$13,298$12,670$12,338
6 years$12,698$11,969$11,282$10,634$10,025$9,705
7 years$10,775$10,051$9,375$8,743$8,153$7,845
8 years$9,333$8,616$7,951$7,334$6,764$6,468
9 years$8,212$7,502$6,848$6,247$5,696$5,413
10 years$7,315$6,612$5,970$5,385$4,853$4,582
11 years$6,583$5,887$5,256$4,687$4,174$3,915
12 years$5,972$5,283$4,665$4,111$3,617$3,369
13 years$5,456$4,775$4,168$3,629$3,154$2,918
14 years$5,015$4,340$3,745$3,222$2,765$2,540
15 years$4,632$3,965$3,381$2,873$2,434$2,220
16 years$4,297$3,638$3,065$2,573$2,152$1,948
17 years$4,003$3,350$2,789$2,311$1,908$1,714
18 years$3,741$3,096$2,546$2,083$1,696$1,512
19 years$3,507$2,869$2,331$1,882$1,512$1,338
20 years$3,297$2,666$2,139$1,705$1,350$1,185
21 years$3,107$2,483$1,968$1,547$1,209$1,052
22 years$2,934$2,318$1,814$1,407$1,083$936
23 years$2,777$2,168$1,674$1,281$972$833
24 years$2,633$2,031$1,549$1,168$874$743
25 years$2,501$1,906$1,434$1,067$786$663
26 years$2,379$1,792$1,330$976$708$592
27 years$2,266$1,686$1,235$893$639$529
28 years$2,162$1,589$1,148$818$576$473
29 years$2,065$1,499$1,069$750$520$424
30 years$1,975$1,415$995$689$470$379
31 years$1,890$1,338$928$632$425$340
32 years$1,811$1,266$866$581$385$305
33 years$1,737$1,199$808$535$348$273
34 years$1,668$1,136$755$492$315$245
35 years$1,602$1,078$706$453$285$220
36 years$1,541$1,023$661$417$259$198
37 years$1,482$972$618$384$234$178
38 years$1,427$923$579$354$212$159
39 years$1,375$878$542$326$193$143
40 years$1,326$835$508$301$175$129
41 years$1,279$795$477$278$159$116
42 years$1,235$757$447$256$144$104
43 years$1,193$722$420$237$131$93
44 years$1,152$688$394$219$119$84
45 years$1,114$656$370$202$108$76
46 years$1,078$626$347$186$98$68
47 years$1,043$597$326$172$89$61
48 years$1,009$570$307$159$81$55
49 years$978$544$288$147$73$49
50 years$947$520$271$136$66$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $970,000, adding $6,979 every year, while hoping to spend $21,694 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: 50/43/7 Blend
58$970,000$970,000$970,000$970,000
59$1,076,139$1,024,729$1,009,694$1,127,688
60$1,162,823$1,051,858$1,020,436$1,190,718
61$1,257,621$1,079,590$1,030,812$1,256,266
62$1,361,339$1,107,931$1,040,784$1,326,975
63$1,474,863$1,136,886$1,050,318$1,403,335
64$1,599,168$1,166,463$1,059,373$1,485,883
65$1,735,329$1,196,665$1,067,907$1,575,210
66$1,884,530$1,227,499$1,075,879$1,671,967
67$2,048,073$1,258,967$1,083,242$1,776,872
68$2,227,394$1,291,074$1,089,949$1,890,713
69$2,424,074$1,323,823$1,095,948$2,014,359
70$2,639,854$1,357,215$1,101,187$2,148,766
71$2,876,652$1,391,252$1,105,610$2,294,989
72$3,136,581$1,425,933$1,109,158$2,454,186
73$3,421,968$1,461,260$1,111,770$2,627,637
74$3,735,377$1,497,229$1,113,382$2,816,747
75$4,079,630$1,533,838$1,113,925$3,023,067
76$4,457,839$1,571,083$1,113,329$3,248,303
77$4,873,432$1,608,959$1,111,518$3,494,337
78$5,330,183$1,647,460$1,108,415$3,763,241
79$5,832,252$1,686,575$1,103,938$4,057,295
80$6,384,222$1,726,297$1,097,999$4,379,016
81$6,991,140$1,766,614$1,090,510$4,731,172
82$7,658,569$1,807,511$1,081,375$5,116,816
83$8,392,638$1,848,973$1,070,496$5,539,310
84$9,200,098$1,890,984$1,057,768$6,002,360
85$10,088,388$1,933,522$1,043,084$6,510,047
86$11,065,705$1,976,567$1,026,329$7,066,870
87$12,141,080$2,020,091$1,007,384$7,677,785
88$13,324,464$2,064,069$986,124$8,348,253
89$14,626,819$2,108,469$962,420$9,084,293
90$16,060,228$2,153,257$936,134$9,892,535
91$17,638,001$2,198,396$907,124$10,780,287
92$19,374,805$2,243,845$875,241$11,755,602
93$21,286,801$2,289,560$840,327$12,827,353
94$23,391,798$2,335,491$802,221$14,005,318
95$25,709,417$2,381,586$760,752$15,300,273
96$28,261,281$2,427,787$715,740$16,724,094
97$31,071,214$2,474,031$667,000$18,289,865
98$34,165,469$2,520,250$614,336$20,012,009
99$37,572,976$2,566,372$557,545$21,906,416
100$41,325,612$2,612,316$496,415$23,990,601