Can I retire at age 59 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$80,515$79,797$79,098$78,415$77,748$75,838
2 years$39,859$39,116$38,397$37,699$37,023$35,110
3 years$26,309$25,563$24,845$24,154$23,489$21,633
4 years$19,535$18,791$18,081$17,402$16,752$14,968
5 years$15,472$14,733$14,032$13,366$12,735$11,027
6 years$12,764$12,030$11,340$10,689$10,077$8,448
7 years$10,830$10,103$9,423$8,788$8,195$6,644
8 years$9,381$8,660$7,992$7,372$6,799$5,326
9 years$8,254$7,540$6,883$6,279$5,725$4,329
10 years$7,353$6,646$6,001$5,413$4,878$3,557
11 years$6,617$5,917$5,283$4,711$4,196$2,947
12 years$6,003$5,311$4,689$4,132$3,636$2,458
13 years$5,485$4,799$4,189$3,648$3,170$2,062
14 years$5,040$4,362$3,764$3,238$2,779$1,737
15 years$4,656$3,985$3,398$2,888$2,447$1,468
16 years$4,320$3,656$3,081$2,586$2,163$1,245
17 years$4,023$3,367$2,804$2,323$1,918$1,058
18 years$3,760$3,112$2,559$2,094$1,705$901
19 years$3,525$2,884$2,343$1,892$1,520$769
20 years$3,314$2,680$2,150$1,714$1,357$657
21 years$3,123$2,496$1,978$1,555$1,215$562
22 years$2,949$2,330$1,823$1,414$1,089$482
23 years$2,791$2,179$1,683$1,288$977$413
24 years$2,647$2,042$1,557$1,174$879$354
25 years$2,514$1,916$1,442$1,073$791$304
26 years$2,391$1,801$1,337$981$712$261
27 years$2,278$1,695$1,242$898$642$225
28 years$2,173$1,597$1,154$822$579$193
29 years$2,076$1,507$1,074$754$523$166
30 years$1,985$1,423$1,000$692$473$143
31 years$1,900$1,345$933$636$427$123
32 years$1,820$1,273$870$584$387$106
33 years$1,746$1,205$813$537$350$91
34 years$1,676$1,142$759$494$317$79
35 years$1,610$1,083$710$455$287$68
36 years$1,549$1,028$664$419$260$58
37 years$1,490$977$622$386$236$50
38 years$1,435$928$582$356$214$43
39 years$1,383$883$545$328$194$37
40 years$1,333$840$511$303$176$32
41 years$1,286$799$479$279$159$28
42 years$1,241$761$450$258$145$24
43 years$1,199$725$422$238$131$21
44 years$1,158$691$396$220$119$18
45 years$1,120$659$372$203$108$15
46 years$1,083$629$349$187$98$13
47 years$1,048$600$328$173$89$11
48 years$1,015$573$308$160$81$10
49 years$983$547$290$148$74$8
50 years$952$523$272$137$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $975,000, adding $2,870 every year, while hoping to spend $55,615 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: 41/48/11 Blend
58$975,000$975,000$975,000$975,000
59$1,077,410$1,025,735$1,010,623$1,117,962
60$1,128,132$1,016,823$985,305$1,137,802
61$1,182,164$1,005,609$957,275$1,153,510
62$1,239,784$991,923$926,383$1,169,274
63$1,301,298$975,584$892,473$1,185,122
64$1,367,041$956,398$855,381$1,201,090
65$1,437,379$934,161$814,936$1,217,221
66$1,512,716$908,659$770,960$1,233,570
67$1,593,491$879,661$723,266$1,250,198
68$1,680,190$846,927$671,658$1,267,180
69$1,773,343$810,200$615,932$1,284,605
70$1,873,533$769,210$555,875$1,302,576
71$1,981,401$723,668$491,265$1,321,213
72$2,097,650$673,274$421,868$1,340,653
73$2,223,051$617,706$347,442$1,361,058
74$2,358,455$556,625$267,733$1,382,612
75$2,504,791$489,674$182,477$1,405,524
76$2,663,086$416,475$91,396$1,430,038
77$2,834,466$336,627$0$1,456,428
78$3,020,168$249,708$0$1,485,687
79$3,221,554$155,273$0$1,528,982
80$3,440,122$52,850$0$1,576,013
81$3,677,517$0$0$1,627,274
82$3,935,552$0$0$1,713,984
83$4,216,218$0$0$1,838,774
84$4,521,709$0$0$1,974,715
85$4,854,435$0$0$2,122,897
86$5,217,053$0$0$2,284,516
87$5,612,483$0$0$2,460,890
88$6,043,940$0$0$2,653,471
89$6,514,963$0$0$2,863,853
90$7,029,449$0$0$3,093,797
91$7,591,687$0$0$3,345,236
92$8,206,397$0$0$3,620,302
93$8,878,780$0$0$3,921,341
94$9,614,558$0$0$4,250,937
95$10,420,035$0$0$4,611,935
96$11,302,152$0$0$5,007,467
97$12,268,551$0$0$5,440,985
98$13,327,651$0$0$5,916,289
99$14,488,723$0$0$6,437,564
100$15,761,975$0$0$7,009,420