Can I retire at age 59 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$80,762$80,043$79,341$78,656$77,987$77,013
2 years$39,981$39,237$38,515$37,815$37,137$36,156
3 years$26,389$25,642$24,922$24,229$23,561$22,605
4 years$19,595$18,849$18,137$17,455$16,804$15,880
5 years$15,519$14,778$14,075$13,407$12,774$11,884
6 years$12,803$12,067$11,375$10,722$10,108$9,253
7 years$10,863$10,134$9,452$8,815$8,220$7,402
8 years$9,410$8,687$8,016$7,395$6,820$6,037
9 years$8,279$7,563$6,904$6,299$5,743$4,996
10 years$7,376$6,667$6,019$5,430$4,893$4,181
11 years$6,637$5,935$5,299$4,725$4,208$3,530
12 years$6,022$5,327$4,703$4,145$3,647$3,002
13 years$5,501$4,814$4,202$3,659$3,180$2,568
14 years$5,056$4,376$3,775$3,248$2,788$2,208
15 years$4,670$3,997$3,409$2,897$2,455$1,905
16 years$4,333$3,668$3,091$2,594$2,169$1,650
17 years$4,036$3,378$2,812$2,331$1,923$1,433
18 years$3,772$3,121$2,567$2,100$1,710$1,248
19 years$3,536$2,893$2,350$1,898$1,524$1,089
20 years$3,324$2,688$2,157$1,719$1,362$951
21 years$3,132$2,504$1,984$1,560$1,219$833
22 years$2,958$2,337$1,828$1,418$1,092$730
23 years$2,800$2,186$1,688$1,292$980$641
24 years$2,655$2,048$1,561$1,178$881$563
25 years$2,521$1,922$1,446$1,076$793$495
26 years$2,399$1,806$1,341$984$714$435
27 years$2,285$1,700$1,245$900$644$383
28 years$2,180$1,602$1,158$825$581$338
29 years$2,082$1,511$1,077$757$525$298
30 years$1,991$1,427$1,004$694$474$263
31 years$1,906$1,349$936$638$429$232
32 years$1,826$1,277$873$586$388$205
33 years$1,751$1,209$815$539$351$181
34 years$1,681$1,146$762$496$318$159
35 years$1,615$1,087$712$456$288$141
36 years$1,553$1,032$666$420$261$124
37 years$1,495$980$623$387$236$110
38 years$1,439$931$584$357$214$97
39 years$1,387$885$547$329$194$86
40 years$1,337$842$513$304$176$76
41 years$1,290$802$481$280$160$67
42 years$1,245$764$451$259$145$59
43 years$1,203$728$423$239$132$53
44 years$1,162$694$397$220$119$46
45 years$1,123$661$373$204$108$41
46 years$1,087$631$350$188$98$36
47 years$1,051$602$329$174$89$32
48 years$1,018$575$309$160$81$28
49 years$986$549$291$148$74$25
50 years$955$524$273$137$67$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $978,000, adding $5,425 every year, while hoping to spend $49,021 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: 61/34/5 Blend
58$978,000$978,000$978,000$978,000
59$1,083,352$1,031,518$1,016,359$1,148,222
60$1,141,696$1,029,904$998,249$1,190,583
61$1,204,348$1,026,569$977,889$1,230,589
62$1,271,696$1,021,375$955,153$1,272,971
63$1,344,165$1,014,178$929,907$1,317,956
64$1,422,223$1,004,826$902,012$1,365,796
65$1,506,382$993,156$871,322$1,416,771
66$1,597,208$978,995$837,686$1,471,192
67$1,695,319$962,161$800,944$1,529,401
68$1,801,395$942,461$760,930$1,591,778
69$1,916,186$919,690$717,469$1,658,745
70$2,040,514$893,632$670,381$1,730,768
71$2,175,282$864,056$619,475$1,808,363
72$2,321,486$830,720$564,553$1,892,103
73$2,480,219$793,366$505,407$1,982,620
74$2,652,684$751,724$441,820$2,080,614
75$2,840,204$705,505$373,567$2,186,862
76$3,044,235$654,404$300,412$2,302,220
77$3,266,378$598,102$222,107$2,427,640
78$3,508,397$536,257$138,396$2,564,170
79$3,772,230$468,510$49,009$2,712,974
80$4,060,012$394,481$0$2,875,336
81$4,374,093$313,771$0$3,055,152
82$4,717,059$225,954$0$3,254,471
83$5,091,757$130,584$0$3,472,429
84$5,501,322$27,188$0$3,710,966
85$5,949,203$0$0$3,972,223
86$6,439,201$0$0$4,290,268
87$6,975,499$0$0$4,649,572
88$7,562,703$0$0$5,043,058
89$8,205,887$0$0$5,474,136
90$8,910,637$0$0$5,946,559
91$9,683,105$0$0$6,464,462
92$10,530,068$0$0$7,032,399
93$11,458,989$0$0$7,655,386
94$12,478,088$0$0$8,338,946
95$13,596,419$0$0$9,089,164
96$14,823,954$0$0$9,912,744
97$16,171,681$0$0$10,817,067
98$17,651,699$0$0$11,810,269
99$19,277,341$0$0$12,901,308
100$21,063,290$0$0$14,100,053